News coming soonPetrolia shareholders and followers of this company:
I believe we are going to have a significant announcement in the next couple of weeks. After their latest announcement about picking up additional land in the Gaspe from Junex I am convinced more than ever they are going to have very positive results. They not only swapped the same size parcels of property but they added an additional parcel of property from the lower St. Lawrence. If you look at the news releases from Junex then you realize they have large amounts of gas on their property. These estimates are important because it means that Petrolia had to pay a premium for the additional acreage they got from Junex. Why elso would they give up their valuable St. Lawrence property ?
Why would they give up a comparable size property PLUS the land in the lower St. Lawrence to Junex ? I believe Junex wanted the extra property because they (and Petrolia) knows the potential of the Gaspe. They knew Petrolia would pay a premium - and they did. Petrolia then says they can now move forward aggressively to begin production. They wouldn't begin production if they weren't convinced the area was economically feasible. It seems to me the deal with Junex was more of a housekeeping matter - get the deal done so there is nothing in the way of their plans. Now they have the acreage (and extension) they want and nobody to consult with or answer to regarding further drilling/production issues. It is now their project and they want to run with it.
These are only my humble thoughts and I may be very wrong, but I don't think I am. Does anybody else have an opinion on their latest acquisition from Junex ? If so, please post.
Good luck to all the Petrolia shareholders who are long on this play.
Tbonepickens