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implies share price of about $40m+$10m cash/80m shrs = 62cts. Might be a little thin on the offer at 17cts......... |
6/11/2013 8:10:57 AM |
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The obvious strategy in my opinion is a merger of PFC and Baraka, simplifying negoiations with Statoil & future capital raising, and allowing some serious cost cutting - if that's what they're working on I'm not surprised it's... |
5/17/2013 4:31:38 AM |
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if statoil are serious about checking out the basin they can bring some of their gear over from the us. not sure how easy it would be to bring in more crew though.......... |
4/27/2013 9:16:58 AM |
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thanks for the reading material, I will go through the stuff I haven't already seen. I can see there is little doubt that the oil was generated, question is how much was expulsed, how much energy remains in the reservoir. Statoil have what it... |
1/29/2013 12:25:02 PM |
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there were some interesting comments by Amstocks82 on investor village concerning the geology of the region;http://www.investorvillage.com/smbd.asp?mb=17535&mn=57&pt=msg&mid=12264406 (and after).This was prior to the owen result - his... |
1/28/2013 3:07:58 PM |
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you mentioned the danger of the local sand being crushed by the pressure and blocking the fractures. Are you speculating wildly, as I was when I said I thought the 'reservoir' drive might be the problem with Owen, or as others have done, ... |
1/24/2013 3:01:43 PM |
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....in my opinion, as it would put the current management out of work, and they don't own enough stock to compensate. But if PFC stays the course, which is the best scenario, PFC's work program might be financed for 5 years but their G&am... |
1/15/2013 11:50:47 AM |
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After their sub 10 purchase heritage "controlled" 19.91% of PFC assuming warrant exercise. Now they have sold the warrants, to buy stock giving them 19.98%. Looks like they need to stay under 20% - is there a reason for this regarding t... |
12/18/2012 3:49:17 PM |
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Fernando The financial problem could relate to the fine print of the farm-in. If PFC & Statoil agreed on a budget of $35m for 2012, for fracking & testing the three wells, but PFC as operator is solely responsible for the cost over-runs, ... |
12/6/2012 7:09:55 AM |
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Fernando you're correct, I missed the receivables - that could give them the $10m they need. I agree that the tone of the announcement is odd, there doesn't appear to be any immediate problem that could justify a 'strategic review'... |
12/6/2012 6:52:11 AM |
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