PPP 0.00% 3.7¢ pan pacific petroleum nl

PPP ...money in the bank

  1. 1,317 Posts.
    Good thing about PPP is that it has more than $7million in cash at the end of the quarter, up $2million from the previous quarter. OK so there were some abnormals but PPP one of the few junior oilers to be cash flow positive. Nice. Now the bad news, no mention of Tui in its quarterly, Chervil loooks like being shut in for the duration, and the company is still administratively attached to NZO. Also it does not appear to have a website or a PR person as press releases are few and far between. Current price weakness probably reflects NZO holders selling their free PPP shares but actually volume over recent months has been small at least on the ASX don't know about NZX. All in all a good stock to hold if you are into this end of the market. JBC
 
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