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Porto Energy Corp V.PEC

Sector: Energy | Sub-Sector: Oil & Gas E&P
Alternate Symbol(s): PNRXF

Porto Energy Corp is an international oil and gas company engaged in the exploration of crude oil and natural gas in Portugal.
Price: $0.01 | Change: $0.00 | % Change: 0.00%
Volume: 1.9m | Day High/Low: 0.01/0.01 | 52 Week High/Low: 0.05/0.005

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0 stars

Volume.

Big volume after a long time. Something is worth hoping for whiich may reward all of us or atleast our money back.  rate and reply
3 stars

RE:Liquidate

Hi all,  as of  latest financials dd Nov013,  total  assets 5mll.  and  liabilities abt 1mll .  shares out  200mll  .  calc yourself .  http://www.portoenergy.com/files/ascfiling/January%2029,%202014...read more
1 star

RE:Liquidate

would definitely be worth more than $0.01 per share!!  rate and reply
2 stars

Liquidate

If we sold all our assets at a reasonable price what could we end up with per share?  Would this be a better option?  Could somebody shed some light on this?  rate and reply
2 stars

As Bloomfield suggested, they probably

have enough shares to ensure the vote for Porto investors to lose 90% of the company through its Mojave holdings, thus ensuring a "wallowing" outcome for Porto stock. ............ Since GALP is a huge...read more
2 stars

Bloomfield, you are right...

Those data licenses may be sold before the vote (and likely will be if there is actually anyone interested). That money may accrue to Porto. ............ However, the "potential" new holders of 90...read more
5 stars

RE:It's the same deal that Sorgenia and Rag. had for about 2/3

Tooez, It's for 90% of Mohave voting stock. And unless I'm mistaken, Mohave covers all Portuguese concessions. Integrity Growth Capital wouldn't cough up $15 million for a single well. Management...read more
2.5 stars

It's the same deal that Sorgenia and Rag. had for about 2/3

of the Lias unconventional oil drilling. (Apr.30, 2012 release) Porto is attempting to sell that deal by now giving up 90%...Porto is giving up more since money is far harder to come by....it is not...read more
3.5 stars

RE:RE:Unconditional Surrender?

I would agree this deal seems insane at first look.  Obviously we will need to see the terms and conditions.  If it was for 90% of the particular concession they are drilling.  I could be okay with...read more
1.5 stars

RE:Unconditional Surrender?

A better joint venture earn in agreement would be more fair. An operator could progressively earn in up to let's say 80%, with PEC retaining 20%, or even 10% after the operator drills multiple wells...read more
3 stars

Unconditional Surrender?

Basically, PEC shareholders get exactly one drill hole. After $70 million invested the Company loses 90% of it's assets in Portugal in exchange for one drill hole. This begs the question, what's the...read more
1 star

Ref. Jan. 2014 release

Each set of survey data that includes four areas has the "potential" to bring in $1.5 Million. How many will be interested? As strictly a guess I would hope for one...perhaps the offshore data might...read more
0 stars

RE:RE:RE:The Lias unconventional drilling

You seem to be right to me but it is better than 0% and the management is not in a hurry. Let's see !  rate and reply
0 stars

RE:RE:The Lias unconventional drilling

so if the deal goes through, then shareholders are 90% diluted for a chance at a well that has what 50-50 odds or less?  Am I correct in my #'s in others opinion?  Or would an unconventional well have...read more
0 stars

RE:The Lias unconventional drilling

looks like the market is slow to react or doesn't really care until financing is confirmed by May 31st.  I'd bet on the latter  rate and reply
1 star

The Lias unconventional drilling

was originally to be done in a partnership with Sorgenia and Rag. who withdrew rather than commit funds. Galp seemingly has no investment interest in Lias so Porto will retain 10% if the deal develops...read more
0 stars

RE:Mojave is a 100% owned subsidiary of Porto...

Well, I am glad you guys at least have a shot. I agree, better than bankruptcy. You never know. If there is a hit at Lias,  you will probably be okay, even in these conditions. I wish you well.  rate and reply
1 star

Mojave is a 100% owned subsidiary of Porto...

Mojave holds the drilling rights to the Lias and is 50% partners with Galp. ........................................................ Porto, if the deal goes through, will give up 90% of Mojave. .........read more
0 stars

RE:RE:RE:Surprise!!!!! $ News

PEC will sell 90% of their interest in Mohave which holds all the interests in Portugal in exchange for 10-15 M so then they can have one last shot... Since PEC basically has no money, you can assume...read more
0 stars

RE:RE:Surprise!!!!! $ News

From what I read, it looks like Porto shareholders just lost 90% of their value in exchange for $10-15mil dollars into Porto's bank. Not sure of the current financials and outstanding shares as I am...read more