: "I'm telling you to buy it. They have a great yield and great management."
: "I think it's a good speculative situation and I think it should be bought."
: "Nah, I'm not that interested. Why don't you try
Bank of America
: "It's a decent spec. It's not my cup of tea but I don't think it's all that bad."
In the "Executive Decision" segment, Cramer spoke with Tony O'Reilly, CEO of Providence Resources, an Ireland-based oil exploration and drilling company that has potentially made game-changing oil discoveries off the coast of Ireland.
O'Reilly explained that there are currently only 150 oil wells off the coasts of Ireland, leaving the bulk of the seas "massively unexplored." He said after a long history of unsuccessful attempts to drill in the area, the game-changing factor has been technology.
"Technology has impacted every area of our lives," noted O'Reilly, and the oil business is no different. He said that areas deemed impossible decades ago are now well within reach and Ireland now has the infrastructure, financing and technology to make it happen.
O'Reilly described Providence Resources as an early-stage player in the oil market, one that's focused on discovery and development of offshore properties. After the oil begins flowing, he said, Providence licenses its properties to partners and moves on to newer discoveries.
While the exact amounts of oil recoverable in the Irish seas has yet to be determined, estimates could be in the billions of barrels, said O'Reilly. And with Providence making money on anything over $40 a barrel for oil, the outlook is great for both his company, for Ireland and for Europe overall.
Cramer said while Providence Resource shares do not trade in the U.S., the company offers hope for Europe at a time when it seems all hope for growth and prosperity has been lost.
No Huddle Offense
In his "No Huddle Offense" segment, Cramer once again opined on the botched
IPO and how it tarnished an asset class already under siege.
Cramer said that stocks have once again become a laughingstock for many Americans, pieces of paper that can go up or down in value by 10%, 20% or even 30% in an instant, based on the whims of ETFs and high-frequency traders. The Facebook IPO could have been a win for everyone, said Cramer, and instead it dragged us all through the mud.