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Pieridae Energy Ltd T.PEA

Alternate Symbol(s):  PTOAF

Pieridae Energy Limited is a Canadian energy company. The Company is an upstream producer and midstream operator with core assets concentrated in the foothills of the Rocky Mountains. Its business is focused on developing and producing conventional raw natural gas and processing it into sales products that include natural gas liquids and sulfur. The Company processes these commodities by using its ownership in gas processing facilities in southern and central Alberta. It owns and operates three sour gas processing complexes at Waterton, Caroline and Jumping Pound. Its upstream assets include conventional gas reservoirs in North America. Across Alberta and British Columbia, its footprint stretches over one million gross acres of land, with ownership of three deep cut gas plants and more than 3,800 kilometers of pipelines. Its foothills include southern foothills, central foothills and northern foothills. Its southern foothills have three main fields: Waterton, Carbondale and Burmis.


TSX:PEA - Post by User

Bullboard Posts
Comment by Tbonepickenson Oct 22, 2009 11:04pm
653 Views
Post# 16415664

RE: RE: RE: The news...

RE: RE: RE: The news...

Welland:

The news is not three years old so therefore no "suckers" (as you say) bought stock today on old news.

If you read the "Correction" it points out the mistakes on the depths of the drill stem tests as well as typographical errors. However, it continues to also say the following:

"These changes do not in any way alter Junex's opinion about the Haldimand #2 well or the Haldimand Project. The complete and corrected version follows: Junex (JNX) announces that the Haldimand Project Operator, Petrolia has completed the the drilling of the Haldimand #2 well at a total depth of 1,200 meters. According to the Operator of the project, light oil shows were observed in drill cutting samples (fluorescence sometimes accompanied by oil shows) over the interval from 746 meters to the total depth of the well. (The article continues)

I would suggest 474 meters (over 1400 feet) of sandstone saturated with light crude oil is about the best news possible for a junior oil exploration company. It is probably the equivalent of winning the lottery as these results are excellent. Perhaps this is why the stock traded six times its normal volume and had a significant jump in its share price.

Good luck to all the longs. 

Bullboard Posts