Re: Info on our partner PRPL /SP
posted on
May 16, 2008 04:08AM
What information do you have that makes you think Alberta is close to delivering revenues? Their partner in the project (Pennine Petroleum) stalled for so long that they had a shareholder revolt. A private placement would be as bad as diluting by any other means, in my opinion. Again, in my opinion, if they get production going and use the proceeds to finance future drilling plans, they?re doing their job properly. If they dilute any further, I stand by my statement to BC of 6 months ago that they are incompetent fools. At best. I know, I know, that?s pretty harsh, but if you look at only the figures we have to work with, our share price is a couple of cents lower than it was a year and a half ago. We spent 9 million dollars on a well, finished 6 months ago, which has yet to be put into production. As a result of knowledge gleaned from that well, we have one completed well producing 15 barrels per day. Anything else is hype, hope, or conjecture. Listen, this is my biggest holding, and I?m way underwater on it. I want it to be successful as much as anyone. AND, as I said before, I?ll wait, but I?ll bitch.