PAN ANDEAN RESOURCES......Discussion thread

Im surprised (nay delighted!)To hear that someone out there thinks there is even a glimmer on the horizon that PRE's shares could be worth 30p.

My own reading of the situation is that it's likely that one of PRE's big gun partners has to eventually to buy the company, but all they will do is to buy the company with their paper, with one of those 1 for 10 type deals, plus of course some well paid minor directorships for the 'deserving few'.

We are just being used by Pan American as a "free banking", fixed costs subsidy, just to leave the gas in the ground at El.Dorado, there are few risks for them with this stategy, particularly with the current fiscal meltdown in SA ( which could get much worse!). 'Eventually' the gas will make it's money, but "eventually" is no good for PRE, who can't afford this dead money situation.

As I see it, the only thing that could upset Pan American's applecart is if one of them gets too greedy and tries to snatch PRE up, while it's share price is on the floor. And of course we don't know what the total reserves / value is at El Dorado (I bet they do), the bigger the reserves are in the ground the bigger the motivation to move in.

There is no doubt about it, PRE is between a rock and a hard place on this one! I would be interested to hear if you agree that the time is now ripe for the disposal of PRE's El.Dorado assets, perhaps retaining an interest in any future exploitation of the field?..or perhaps you think the potential at El.D, justifies the means (ie.loss of exploration / aquisitions etc)..However long it takes?

OT ( With JT, in deep depression!)