Making the best of 16MIn looking at the start Petro One has made in the few months it wasbeen advancing from
an explorer to producer and considering the 100% ownership they have in18 oil & gas
properties (some multi-zone) from surface to basement, which is huge compared to
Alberta where I reside wheremany companies do not have that luxury,it made me
wonder why they would target theViking first with numerous other historic locations,
ie, the Red River formation.
With 16M cash in the bank andthe objective of becoming a producer, which as I have
come to understand it, isunheard of, Petro One acquired theservices of Chapman whose
staff all comprised ofindividuals who each possessed 25 to 40 years of specialized
experience to tap into, thuscreating a cost- effective move for the company to increase
its success by utilizing minimumpersonel.
With only 16 M cash on hand, itsobvious that the Viking sands would be the logical target as
it is an extremely shallow light oil formation which would result inthe least amount of
expenditure to explore and yield a premium light oil revenue flow.
Now, when you consider that each one of these parcels have multi-zonepotential and
on the J5 alone they estimated a minimum of 18 targets, this is why,as I stated before,
this stock is a long hold andnot a short. In three to fouryears, if not taken out before
by a major, I see a $20 plus stock.
I also have a feeling that we should be giving more focus to HairuoQing's involvement
as being brought on as an advisor to this company. I've been digging around through
his credentials and a lot of thepapers he was written and Mr. Qing is world respected as
the leading expert on numerous formations but in partcular, the RedRiver caught my
attention which comprises of ourJ11, 12 and 13.
Hairuo Qing, Ph.D. (McGill), P. Geol., Advisory Board
Dr. Qing is Head of the Department ofGeology at University of Regina, Saskatchewan.