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Apathy among share holders. SHAME. Who will read their proxy and vote nay for this board. Recall the offer ayear ago for $84/share. Management refused and promised to unlock value. What happened? Review action since then. Review PZE movement since first of '99 and compare to peers.
PZE field in Venezuela is a re activation of an old producing field which will require many dollars for no significant production. The good news is that production must be taken by Venezuelan oil company and no facilities need to be built for storage, etc. Review Venezuela's recent political status for the cons.
This is a perfect example for case study of entrenched management. Observe what they did with money from settlement and the Chevron stock purchase.
Please show me one correct move in the past 5 years.
Yes and old saying from my work days; "there is a lot of money in the oil business". PZE management confirms this as they can bleed money from apoorly run operation. Imagine if it were well managed.
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