I am also slowly getting put off this stock, as you could probably tell from my previous posts. Notwithstanding the difference in SP between PTR and GDY I actually saw them in the same light up until recently.
IMO this company hasn't made a wrong step right up to drilling completing the drilling the Paralana 2 well, but since then there has been a bit of negativity around the company (1) missing out on round 2 of the Heliotherm project and (2) endless delays around the Paralana program. Since I have been involved with the stock, this is probably the worst 5-6 months IMO.
There are still some positives with Beach and Tru Energy still involved and with a long term buy perspective, 10 cents could prove to be a good buy. The successful completion of fracture stimulation could bring some positive sentiment back to this company along with some positive announcements from its Spanish projects where they are doing conventional projects.
I am happy to sit on the paper loss until at least Feb and depending on what happens could accumulate to bring down my average cost.
PTR Price at posting:
11.4¢ Sentiment: Hold Disclosure: Held
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