Private PlacementHello all:
I think Petrolia is a real winner, just need to be patient. Did anybody notice that their private placement to raise money was oversubscribed and the money raised was by employees, insiders and family members ??
If a company was a real dog it would have difficulty raising money, and the money raised wouldn't be via their own inner circle. Did you also know that you cannot pick up a single acre of property in the Gaspe where Petrolia is drilling ? The Quebec Government has permits that were available (before), however the remaining permits are now going to be AUCTIONED off like in Alberta. Not surprisingly, it is almost impossible to find out when these permits are going to be auctioned off. My guess is that they want to wait for Petrolia and others to continue their drilling programs and continue to have success. The more success their is in the area, the higher the bids will be. The Quebec Government is probably hoping the Petrolia permits contain tremendous amounts of oil. The revenue that they will receive from royalties and taxes is a stream of money they have never enjoyed before. Good luck to all those who are long on Petrolia....just be patient.
Tbonepickens