Hi Cougar, hope you had a good break. certainly seemed like...

Hi Cougar,
hope you had a good break. certainly seemed like nothing has been happening in the markets other than the dramatic slide of global oil prices. I was thinking on this the other day and what it means for the small explorers. Obviously the capital raising side will be hard hit. Not a single new IPO on AIM slotted for 2015 in the Oil space says it all. So it will be tough yet again for the juniors. But what about the jrs who have cash at bank and low cost development plays? This in my mind is where PYM sits. Its also what probably giving them a level of support. I note that WEL is now -50% from IPO price in only a few months or so. Tough for WEL, solid group of proven guys there. But PYM has that differentiated itself by being both in a low cost play that is more development than exploration and backed by a solid level of cash. I'm scanning all the usual sites like Energy Net, PLS , Burkes and the number of new production assets coming onto the mkt is amazing. Also, it appears its a daily event where the US majors are announcing scale backs in exploration expenditure. This is all good news for a player like PYM. While I cant say I know what they are thinking Id have a bet that they may be starting to look at what production assets are now on the market. Its a possibility after all they are running now at a 35-45% discount to 7 months ago. So, in a way this fall may have placed PYM in quite an interesting position. I'm a firm believer that every Junior should buy production and lock in revenue as a first step. Then, either further refine and develop that asset or use the revenue to support the companies aspirations. Now, in my mind, would seem like a perfect time to acquire. Forget oil price for now. You simply acquire your asset, hedge ( buy puts that may cost you $2-$3 per BBL) , protect your downside and ride any upside. Oil wont stay low forever we know that. So, after a few weeks away from my screens and no reading of logs or SWCs or reserve reports or looking at seismic I'm finding I'm quite relaxed about where we are. That old saying of buy the dips is probably where we are in the oil world right now. Now, back to work.