Yes, I remember those two posters fondly. I held EXT to the end,...

Yes, I remember those two posters fondly.

I held EXT to the end, but alas, I was relatively late into the stock. I made good money but nowhere near the likes of LE or Harlee7.

I miss the eloquence of his posts. These forums are largely frequented by the bogunesque, bouncing off each other in order to bolster their respective insecurities. There are surprising similarities in many ways, between PEN and EXT, from a strategic perspective, but they are playing out in a different commodity environment. The EXT problem in the end was that the size and quality of its asset was like a magnet to the Chinese, who in conjunction with a stacked BoD sat on the SP. It peaked from memory at circa $11.45 and was taken over at about $8.70. Far under its value potential.

PEN SH need to watch for control-creep. It'll be one of the few mid-tier western U-producers left with a quality balance sheet, and a revenue stream that is not immediatley destroyed by bond coverage and corporate debt (no names no pack drill).

In my view, the anchor on the SP right now is commodity price and global market sentiment. I can't see much wrong in Simpson's underlying strategy. From an investment pespective, you only make money when what you are selling is profitable (at term prices we are), and when investor liquidity flows through the register. The program over the next 3 months would appear to have this in focus.