EXPM:PREGF - Post by User
Comment by
GoldfingerU3O8on Sep 19, 2013 6:58am
696 Views
Post# 21750624
RE:PRD prospect
RE:PRD prospect
Hi henrik,
I think your summary is excellent and I respect your integrety (to Casey Subscribers). I guess the comparasion people make between the Africa Oil (from 2 years ago) and PRD is the following:
Africa Oil was two years ago a company with a small market capitalization of under 300 Mio $ (if I rememer right 150 Mio shares @ 1.70 Dollar) and a huge upside potential because of the huge acreage.
PRD also has a small market cap. of around 100 Mio and also a huge acreage (by far not as huge as Africa Oil). The big difference is - and you said it - the drilling success of Africa was not a given whereas the chance that the PRD acreage contain a lot of oil is very high. It seems to be more a technical problem (to unlock it with new technologies).
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There is oil in Germany - definetely.
In another part of Germany (Baltic Sea, Mecklenburg), Central European Petroleum GmbH (CEP) is drilling on 3.6 Mio acres. All of their wells encountered oil .... says the rumour and it says also that they think they've found 40 million barrels of conventionally extractable reserves. Unfortunately I don't know how to invest into CEP.
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I would be happy if PRD would find 4 Billion and I also would be very satisfied if PRD would have the same market cap. as Africa Oil today in the next 12 month :-)