Petro One Energy Corp CUDBF

POP is an OIL Company

[longshortman]

There is no way POP is going to become a gold company.  Look right on the website:

“Petro One Energy’s focus is to acquire, discover & develop undervalued oil assets in Canada with close proximity to infrastructure and existing production. The company now holds thirteen oil prospects with 100% interest in all properties which approximate 5000 Acres (2000 hectares). All of the projects have surface to basement rights, some with multi-zone potential.”

The company has divested all gold assets to GSR for shares.  IR says:

POP’s holdings of GSR securities are set out below.  None of the shares have been sold and no warrants have been exercised.

• 4,000,000 shares issued on closing on June 15, 2011
• 1,000,000 shares issued on June 20, 2012
• 1,000,000 shares issued on June 20, 2013
• 3,000,000 warrants at $0.25 until June 15, 2016
• 4,000,000 warrants at $0.70 until June 15, 2016

There may be additional shares and warrants issued to POP as follows, assuming maintenance/exercise of the options by GSR and no re-negotiation of exercise terms by GSR.
 
Lucky Strike:

• Not later than June 22, 2014, 1,000,000 shares
• Not later than June 22, 2015, 1,000,000 shares
• Not later than June 23, 2016, 1,000,000 shares

 
BRC: Not later than Nov. 1, 2013, 1,000,000 shares and 3,000,000 warrants exercisable at the higher of $0.70 and the volume weighted average price of GSR shares over the 30 days preceding the date of issue of the warrants.

So POP is an oil company.  And if GSR keeps ripping away at the VG Zone, POP could be an oil company with a lot of CASH. 

CAN'T WAIT FOR THE NEXT NEWS FROM GSR!!!