PGB - PetroGlobe Inc

PetroGlobe Inc. is an emerging oil and gas company headquartered in Calgary, Alberta, Canada. PetroGlobe creates long-term value for its shareholders by exploring for, acquiring and developing high-quality oil and gas prospects in Western Canada and the United States of America.

The are cashed up and are drilling in the Cardium basin and expect to hit 600 bod by Q1 ... current price .155.

Read more in this presentation.

http://www.petroglobe.com/Site_Files...esentation.pdf

Decent move up today with good volume, got as high as .19 with a close at .195.

Today's take over of BEN and their Cardium assets is drawing a lot of attention to other Cardium plays.

Even at .19, PGB is way undervalued with current production of 340 bod expected to hit 600 bod in Q1 combinded with the planned drilling of two Cardium horizontal.

blackmont on the buy taking out the .20 cent paper.

Closed at .24 ... JS was on BNN talking about the cardium and bakken areas.

Double now ... not bad for a weeks work.

Nice day to grant stock options when the stock is down.

I added 60k today, getting some as cheap at .22.

PetroGlobe Announces Stock Option Grant
CALGARY, ALBERTA--(Marketwire - Jan. 21, 2010) - PetroGlobe Inc. ("PetroGlobe" or the "Company") (TSX VENTURE:PGB) announces that on November 19, 2009 it granted, in accordance with the Company's stock option plan, options to acquire up to 875,000 common shares of PetroGlobe at an exercise price of $0.14 per share to officers and directors.

anon blowing out shares at .205 cents ... I am backing up the truck here.

another good volume day so far with close to 2 million traded ... anon berg seller holding strong at .20, but a few more days like this and he should be out.

looking like the berg is down, price starting to firm up a bit with .215 getting hit now.

PGB halted ... pending news

May 05, 2010 17:35 ETPetroGlobe Inc. Announces Executed Letter of Intent Regarding Business Combination

CALGARY, ALBERTA--(Marketwire - May 5, 2010) - PetroGlobe Inc. ("PetroGlobe" or the "Corporation") (TSX VENTURE:PGB) is pleased to announce that it has entered into a letter of intent dated as of May 4, 2010 which contemplates a business combination with ArPetrol Inc., a private Alberta corporation with international oil and gas operations. The potential transaction is subject to a number of conditions precedent, including completion of satisfactory due diligence, receipt of all required corporate and regulatory approvals, and negotiation and execution of typical transaction documents, and accordingly there can be no assurance that the transaction will be completed. It is anticipated that trading in the common shares of the Corporation will remain halted pending the dissemination of a comprehensive news release and satisfaction of all applicable requirements of the TSX Venture Exchange. Further details of the proposed transaction will be released as they become available

Link to company they want to merge with

http://www.arpetrol.com/en/operations.php

From a poster on stockhouse:

Spoke to Jason James today. Not surprisingly, he didn't tell me the result but he did tell me to look for a news release no later than Monday on the pending deal and financing.

The "financing" angle was news to me. Maybe I missed that in the news release 5 weeks ago.

Regards,
Naamkat