I have very similar thoughts. Right now it's not as sexy as something like AUT, but back when AUT was just fuddling around at the stage PYM is at now they were sitting at a similar price. I'm not sure we're going to scream from 15c to $3.65 in a year or two like AUT has, but I think it'll be a similar sort of story.
In hind sight, a company like AUT seems like an obvious buy in 2009/2010. PYM is sitting on great land with a bung first well due to mechanical issues to spook everyone. It's exactly what I remember happening when I was holding ADI in late 2009 (early 2010?). The results showed the land was great but the well was crap. That was going to scare the price down because traders are all scared little girlies, but it showed the inevitable increase in value. That was an easy, quick three bagger for anyone with balls (and would have been a 20 bagger if not for the take over).
At an apparently dead time like this without news, but while action is being carried out quietly in Louisiana, it just seems like such a great time to be buying.
I'm still holding my EKA and AUT, but I'm topping up my PYM where possible.
PYM Price at posting:
14.3¢ Sentiment: LT Buy Disclosure: Held
