Ann: Corporate Update, page-7

Looks like the old board have decided rather then go to a vote and get booted off they step down to non exec's while also taking a 5% cut of the sale of the capitola project. Gives them some incentive to get a good price. On its sale PYM will have some decent cash and by the looks of Dan Lanskey coming on board they will be moving to tech via an acquisition just as RYG did with him going on board there. Big move on RYG and with PYM having a decent cash balance now plus what they get for the capitola sale they will be chasing a big tech target. With Geoff Barnes a sub holder and being one of the nominees in the board overthrow you would think at some point he will also join the board as well and he and Dan will work hand in hand on a decent tech acquisition.

PYM has just become a decent shell proposition with a 6 mill market cap and 3.5 mill cash plus potentially cash from the sale of capitola to take its cash balance well over its current market cap. To think after the raven project sale PYM had 9 mill cash and this board with an oil price getting hammered focused on spending that cash on drilling and buying more oil assets when they should have pulled up stumps back then and looked at a tech move. I guess better late then never and the sale of capoitola will bump that cash balance up again. But it took them being threatened to be overthrown to push this move or they probably would have withered all that cash away before asking holders for more. If there is 1 thing ive learnt in my 15 years playing the market it is there are some companies that have decent boards trying to drive a company to success and value for holders and others that really are there for a gig to get a big salary and not much more. I think everyone out there can decide which this 1 is. Knowing which is which out there is the battle but i think the changes at PYM will see a big turnaround here in 2016.