PMI Resourses

PMI-X

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This company is not ACTIVE.

Analysis and Opinions about PMI-X

Signal
Opinion
Expert
SELL
SELL
April 22, 2016

He likes the Albanian play. Had a very big discovery with deep light oil, but the problem was that the spend was getting out of hand. They tried to find partners, but didn’t get the bids they needed. Shell came in with an offer and offered them cash. That cash is now going to be distributed in the next 30-60 days to shareholders. The play that he wanted is now gone. If you own, wait for the dividend and then sell.

PMI Resourses (PMI-X)
April 22, 2016

He likes the Albanian play. Had a very big discovery with deep light oil, but the problem was that the spend was getting out of hand. They tried to find partners, but didn’t get the bids they needed. Shell came in with an offer and offered them cash. That cash is now going to be distributed in the next 30-60 days to shareholders. The play that he wanted is now gone. If you own, wait for the dividend and then sell.

Josef Schachter
President, Schachter Asset Management
Price
$0.080
Owned
No
COMMENT
COMMENT
April 6, 2015

They had the discovery where Shell is 70% and this company is a 30% partner. There was a successful well they had drilled in Albania. Very deep and very expensive. Now in the process of sourcing a new rig from China. They are going to bring the rig in some time in Q3 or Q4. The drill time on these wells is very, very long. It takes a year to drill and costs $80-$100 million. The company is well financed. Sitting on $24.6 million of cash in Dec/14, which is 3.5 cents and the stock is at 5.5 cents, so you are paying $.02 for the discovery. The problem is that there is no action going on in the drilling fields in terms of new wealth creation at this time. They also have some great assets in France which they are trying to get some partners on. They also have a long-term potential in northwest Australia. If you have a long-term, 2-3 year time horizon, then he thinks the stock is attractive.

PMI Resourses (PMI-X)
April 6, 2015

They had the discovery where Shell is 70% and this company is a 30% partner. There was a successful well they had drilled in Albania. Very deep and very expensive. Now in the process of sourcing a new rig from China. They are going to bring the rig in some time in Q3 or Q4. The drill time on these wells is very, very long. It takes a year to drill and costs $80-$100 million. The company is well financed. Sitting on $24.6 million of cash in Dec/14, which is 3.5 cents and the stock is at 5.5 cents, so you are paying $.02 for the discovery. The problem is that there is no action going on in the drilling fields in terms of new wealth creation at this time. They also have some great assets in France which they are trying to get some partners on. They also have a long-term potential in northwest Australia. If you have a long-term, 2-3 year time horizon, then he thinks the stock is attractive.

Josef Schachter
President, Schachter Asset Management
Price
$0.055
Owned
Unknown
SPECULATIVE BUY
SPECULATIVE BUY
April 14, 2014

$60 Million of cash, 8 cents per share. They are drilling deep wells and spending a lot to drill them. Has potentially 100s of millions of barrels of production to come. We should know in July on one well and end of year on another. Buy it on weakness.

PMI Resourses (PMI-X)
April 14, 2014

$60 Million of cash, 8 cents per share. They are drilling deep wells and spending a lot to drill them. Has potentially 100s of millions of barrels of production to come. We should know in July on one well and end of year on another. Buy it on weakness.

Josef Schachter
President, Schachter Asset Management
Price
$0.210
Owned
No
PAST TOP PICK
PAST TOP PICK
November 15, 2013

(A Top Pick Dec 5/12. Down 28.13%.) They had a discovery of light oil in Albania but was not very big. There is more drilling going on and Shell has 75% of the play and are putting a lot of money into drilling 2 more wells. Stock is cheap and he thinks it is a Buy.

PMI Resourses (PMI-X)
November 15, 2013

(A Top Pick Dec 5/12. Down 28.13%.) They had a discovery of light oil in Albania but was not very big. There is more drilling going on and Shell has 75% of the play and are putting a lot of money into drilling 2 more wells. Stock is cheap and he thinks it is a Buy.

Josef Schachter
President, Schachter Asset Management
Price
$0.110
Owned
No
TOP PICK
TOP PICK
August 21, 2013

With Shell as their partner, they are drilling in Albania for a very deep prize. Shell has 75% of the play and will spend $200 million drilling 3 wells and doing seismic. Market Cap is $60 million and they have over $40 million in cash at the end of Q1 so they have $20 million of land value that Shell is willing to spend $200 million on. They think the fields are very similar to some big producing fields in Italy. Once the 1st well gets out, they will drill the 2nd well. This is a very big prize. Also, have other assets in France and Australia.

PMI Resourses (PMI-X)
August 21, 2013

With Shell as their partner, they are drilling in Albania for a very deep prize. Shell has 75% of the play and will spend $200 million drilling 3 wells and doing seismic. Market Cap is $60 million and they have over $40 million in cash at the end of Q1 so they have $20 million of land value that Shell is willing to spend $200 million on. They think the fields are very similar to some big producing fields in Italy. Once the 1st well gets out, they will drill the 2nd well. This is a very big prize. Also, have other assets in France and Australia.

Josef Schachter
President, Schachter Asset Management
Price
$0.085
Owned
No
HOLD
HOLD
May 21, 2013

Albania. Well is taking a lot more time and cost than anyone would have liked. Looking forward to what they say in the AGM in the next little while. Be patient. It is speculative. But the pay could be significant.

Albania. Well is taking a lot more time and cost than anyone would have liked. Looking forward to what they say in the AGM in the next little while. Be patient. It is speculative. But the pay could be significant.

Josef Schachter
President, Schachter Asset Management
Price
$0.105
Owned
Unknown
TOP PICK
TOP PICK
February 12, 2013

Core focus is in Albania and as well is partnered with Shell in Chile. Shell is paying $25 million for the 1st well and will then pay $23 million for the 2nd, which will be drilling in Q2. Also, paying $20 million for seismic. Also, have operations in Australia and France. Have about $50 million in cash on their balance sheet. $0.60 risk target for the next 12 months.

PMI Resourses (PMI-X)
February 12, 2013

Core focus is in Albania and as well is partnered with Shell in Chile. Shell is paying $25 million for the 1st well and will then pay $23 million for the 2nd, which will be drilling in Q2. Also, paying $20 million for seismic. Also, have operations in Australia and France. Have about $50 million in cash on their balance sheet. $0.60 risk target for the next 12 months.

Josef Schachter
President, Schachter Asset Management
Price
$0.140
Owned
No
COMMENT
COMMENT
December 10, 2012

There is not much a technical analyst can value in a penny stock. He does not know the company or the story.

PMI Resourses (PMI-X)
December 10, 2012

There is not much a technical analyst can value in a penny stock. He does not know the company or the story.

Larry Berman CFA, CMT, CTA
Chief Investment Officer, Partner, ETF Capital Management Inc.
Price
$0.195
Owned
Unknown
TOP PICK
TOP PICK
December 5, 2012

(A Top Pick Sept 25/12. Down 20%.) Involved in 2 high exploration wells. Will be reaching total depth in December. Announced the spudding of the 2nd well. These are light oil targets and are very large. Have a very large light oil focused land spread in Albania. Also, have conventional natural gas land in France. $55 million in cash on the balance sheet. His target is $0.60. Buy on weakness.

PMI Resourses (PMI-X)
December 5, 2012

(A Top Pick Sept 25/12. Down 20%.) Involved in 2 high exploration wells. Will be reaching total depth in December. Announced the spudding of the 2nd well. These are light oil targets and are very large. Have a very large light oil focused land spread in Albania. Also, have conventional natural gas land in France. $55 million in cash on the balance sheet. His target is $0.60. Buy on weakness.

Josef Schachter
President, Schachter Asset Management
Price
$0.160
Owned
No
TOP PICK
TOP PICK
September 25, 2012

(Buy a half weighted position now and take advantage of any market malaise in Nov/Dec to go to full position status on any weakness.)

PMI Resourses (PMI-X)
September 25, 2012

(Buy a half weighted position now and take advantage of any market malaise in Nov/Dec to go to full position status on any weakness.)

Josef Schachter
President, Schachter Asset Management
Price
$0.200
Owned
Unknown
DON'T BUY
DON'T BUY
November 8, 2011
In Albania where Bankers Petroleum (BNK-T) are located, but there is a big difference between these 2 companies. Bankers is a well established field, producing for decades and decades. Petromanas is very much an exploration story. There is a lot of risk and the wells are very expensive.
PMI Resourses (PMI-X)
November 8, 2011
In Albania where Bankers Petroleum (BNK-T) are located, but there is a big difference between these 2 companies. Bankers is a well established field, producing for decades and decades. Petromanas is very much an exploration story. There is a lot of risk and the wells are very expensive.
Laura Lau
Senior Portfolio Manager, Sentry Select Capital
Price
$0.165
Owned
No
DON'T BUY
DON'T BUY
August 11, 2011
He prefers equities that have dividends. In this sort of turmoil, it will be difficult for juniors to do well. Access to equity financing will become a lot more difficult to come by.
PMI Resourses (PMI-X)
August 11, 2011
He prefers equities that have dividends. In this sort of turmoil, it will be difficult for juniors to do well. Access to equity financing will become a lot more difficult to come by.
Charles Lannon
Director of Research, Toron Investment Management
Price
$0.195
Owned
No
DON'T BUY
DON'T BUY
June 8, 2011
Albania. Very deep, very expensive wells. Pursuing a joint venture partner. Gas prices are higher in that part of the world. Chance of success on these plays is about 3% on these plays.
Albania. Very deep, very expensive wells. Pursuing a joint venture partner. Gas prices are higher in that part of the world. Chance of success on these plays is about 3% on these plays.
Eric Nuttall
Partner & Senior Portfolio Manager, Ninepoint Partners
Price
$0.325
Owned
Unknown
DON'T BUY
DON'T BUY
February 9, 2011
High risk, high impact explorer onshore Albania. Thinks they are looking for a partner and will be drilling in Q3 or Q4. Very deep and complex wells. High risk.
PMI Resourses (PMI-X)
February 9, 2011
High risk, high impact explorer onshore Albania. Thinks they are looking for a partner and will be drilling in Q3 or Q4. Very deep and complex wells. High risk.
Eric Nuttall
Partner & Senior Portfolio Manager, Ninepoint Partners
Price
$0.440
Owned
No
DON'T BUY
DON'T BUY
December 14, 2010
Pure exploration company with large Albanian exposure. Going after very deep, very expensive, technically sophisticated light oil targets. He predicts one in 10 success rate. He doesn’t buy exploration unless you get it for free.
PMI Resourses (PMI-X)
December 14, 2010
Pure exploration company with large Albanian exposure. Going after very deep, very expensive, technically sophisticated light oil targets. He predicts one in 10 success rate. He doesn’t buy exploration unless you get it for free.
Eric Nuttall
Partner & Senior Portfolio Manager, Ninepoint Partners
Price
$0.365
Owned
No
DON'T BUY
DON'T BUY
October 27, 2010
Pure exploration and extremely high risk. Going after a new play concept in Albania. Drilling expensive, deep and technically complicated wells.
PMI Resourses (PMI-X)
October 27, 2010
Pure exploration and extremely high risk. Going after a new play concept in Albania. Drilling expensive, deep and technically complicated wells.
Eric Nuttall
Partner & Senior Portfolio Manager, Ninepoint Partners
Price
$0.320
Owned
Unknown
DON'T BUY
DON'T BUY
March 24, 2010
Land position in eastern Albania. Target they are prospecting is very deep, very expensive and too risky for him. Better buys available.
PMI Resourses (PMI-X)
March 24, 2010
Land position in eastern Albania. Target they are prospecting is very deep, very expensive and too risky for him. Better buys available.
Eric Nuttall
Partner & Senior Portfolio Manager, Ninepoint Partners
Price
$0.485
Owned
No
COMMENT
COMMENT
March 22, 2010
Not a lot of volume up to November making it tough for a technical analysis. Volume in March is bigger and looks exceptionally overbought. Natural gas still has a lot of overhead resistance. Has to be a “show me” before it's of interest to him.
PMI Resourses (PMI-X)
March 22, 2010
Not a lot of volume up to November making it tough for a technical analysis. Volume in March is bigger and looks exceptionally overbought. Natural gas still has a lot of overhead resistance. Has to be a “show me” before it's of interest to him.
Hap (Robert) Sneddon FCSI
Chief Portfolio Manager & Founder, Castlemoore Inc.
Price
$0.470
Owned
No
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