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Omne
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  • Update On Petron Energy II (PEII) 4 comments
    Jan 5, 2014 4:07 PM | about stocks: PEII

    I'm finally back home! Arghhh!!! That was a long drive and a lot of work (doing a real estate deal in South Florida)! Just wanted to check in with my PEII brethren. I can't go into details about my conversation with "my guy" for obvious reasons, but I will say this: If you're in, my advice is to hold. If you're not in, my advice is to buy in. If you're in and have the extra money, my advice is to buy as much more as you can, like I am, because I believe the news is REALLY REALLY REALLY good! I'm walking a thin line, here, but I'm not technically breaking any rules or laws. "My guy" is not technically an insider, but he does know Floyd Smith very well, and used to be his partner in other ventures, a long time ago. They're still on good terms and speak frequently, and since I also know him, I trust his assessment of Floyd's demeanor at the moment. A direct quote from "my guy" from our conversation on Friday: "Floyd is walking on air right now, and I'm pretty sure I know why." To my knowledge, he doesn't have any insider information anymore than I do, but we both had a nice long conversation about the possibilities, and we both came to the conclusion that the cold weather in N. Dakota, coupled with the bad press of the extra volatility of the light sweet crude that Bakken produces (which is silly, because that's the best kind DUE to the fact that its flashpoint is lower) is resulting in a higher demand for traditional oil producers, including the reworked wells that PEII operates. He also thinks that the production numbers for the Edwards leases in OK are going to be blowout numbers. I didn't ask him to go into details about why he thought that (if you want to keep your friends/contacts, I suggest you don't push them on things that could result in bad things happening to them), but my guess is that it's because Floyd seems to be "walking on air" lately, as he put it. You guys do your own DD, and DO NOT take my word for it. I'm just sharing the information I have, and the recent price action would seem to indicate that it's probably good info. Either way, I guess we'll find out soon enough. GLTA and happy trading!

    BTW, if you want to try to connect the dots as to who "my guy" is, the company he used to be partners with Floyd Smith in shares his name. I think I can get away with saying that without breaking any laws or incurring his wrath. ;)

    Disclosure: I am long PEII.

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Comments (4)
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  • Omne,
    Thanks for the article, I have watched this company for some time however the price just keeps decreasing more and more. Do you know of any information on the company that I can further research?
    5 Jan, 08:03 PM Reply Like
  • Author’s reply » I would google the secondary recovery process they use (water/CO2) as well as Floyd Smith and all of his information online. I would also learn all you can about those well leases they have in TX and OK, but you can get a lot of that from either their website or my previous article on them. I seldom do this, but I'm going to be blunt with you and anyone else who reads this: If you buy at these prices and are willing to hold for at least 6 months (not saying it will be that long ... just being conservative), barring EXTRAORDINARY circumstances that no one is currently aware of, including insiders (I think), it would be ALMOST impossible for you to not AT LEAST triple to quintuple your money on this stock. My personal opinion is that we will see this stock increase by a factor of 100 to 1,000 within the next few years, so if you've got some extra cash laying around and don't know what to do with it, I recommend buying as many shares as you can of PEII at any price below .005 or even .01, and then forgetting about them, because, while there is a certain lotto ticket aspect to buying this stock, your odds are MUCH better, by a factor of several thousand, according to my due diligence. Good luck to you and, as always, happy trading!
    5 Jan, 08:29 PM Reply Like
  • Thanks for sharing Omne! I will be purchasing some shares soon =). No worse then spending a few hundred at the casino or $50.00 on the Powerball...At least we have a real shot here right??? Good luck to all of us!!!
    18 Jan, 03:39 AM Reply Like
  • Author’s reply » LOL ... you've got a lot better odds in this case, but yeah. Think of it like a lottery ticket that you're going to win on if you hold onto it through the ups and downs. Should be mostly up for the next month or so. GL!
    18 Jan, 04:29 AM Reply Like
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  • Also, I'm very busy doing other things now, so I'm no longer actively trading. Just longs & the occasional scalp. Got tips? I'm all ears. :)
    Jan 23, 2014
  • In short, buy $PEII today and triple your money in a week and a half, 2 weeks max. No brainer to me. GLTA.
    Jan 23, 2014
  • I've confirmed from 3 SEPARATE sources that the Bakken Deal is real & is supposed to close end of month. That alone is worth .01pps 4 $PEII.
    Jan 23, 2014
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