Posted: 3/14/2006 7:19:17 PM EDT
I've bought into Pheonix Associates Land Syndicate (PBLS). It is a pink sheet stock that I think could easily be a 10 bagger if you have the patience. They have an established mining (sand & gravel) operation in New Orleans (think they are going to build anything there soon?), a couple of construction companies, and more importantly, a relatively new energy division including Pro Gas and an oil exploration company. They have one well in KY in operation with others being drilled and permits for about 20 more on leases in KY, TN, NV, and WY. They are, according to their PR, getting ready to file a form 10 to become transparent and get listed on a better exchange. Once that happens it will at least jump from its current .025 cent price to .40 IMHO using a 16X multiplier. THey are using their cash cow NO mining and construction to fund their energy exploration of leases that were not profitable at $20 per BBL but is very profitable at $60+ per BBL. Give it a look. When this hits I've promised myself an Ed Brown Kobra Carry in Stainless. 
|