What a shame that PGS cannot pull out of the royalty deal.
While they say the oil price drop does not really affect the deal. I find that rather ridiculous.
But hey... maybe it really does not matter the POO has dropped over 50%.
Cash by the end of the quarter will go to $1.5 million. With $3.2 million debt. Nice.
Sure the cash inflow will be nice, as it will pay the interest, directors fees and a bit of tax to boot?
I wonder if they will make even more royalty purchases. I guess they will be cheaper due to the low POO.
PGS Price at posting:
0.9¢ Sentiment: Sell Disclosure: Not Held
