News: PGY Pilot Energy seeks trading halt, page-36

PGY getting some money from PSL is hardly a "corner stone investor". PSL just tapped a few clients and tries to control the shell (which I have no problem with btw - just market forces at work when directors could not get farm in partner or other cash). No major JV partner. No Farm out. PSL already moved on a couple of the directors and appointed their own (clearly very little faith in existing directors to turn this around - and they possibly have no desire to, given the current oil price and the massive amount of cash required in order to do so). Let's see if this is still an oil & gas play in 6 months time. I know the usuals on this thread won't agree and that's ok - but imo current board simply committed suicide when they started acquisitions in this market while having expensive performance obligations waiting in the wings (and already low on cash at that time). Just for fun, let's regroup in 6 months time and see where PGY sits at that stage.