Share price upYesterday I e-mailed Isabelle Proulx at Petrolia. I asked her to give an update on what is going on with bringing the Haldimand well into production. When I get a response from her I will post it.
I also mentioned to her that I do not like the Petrolia website. Specifically, I do not appreciate the company's objective: To produce 5% of Quebec's oil within 4 years
Four years........as of when ??
When was this objective originally posted??....has it been 4 years already??
In a year fom now, or two years from now, or three years from now are they still going to be 4 years away from their objective?? If they are always 4 years away from meeting their objective, then that means it is never going to happen and that is unfair to the shareholders.
I hope that the reason why the share price is up significantly (today) is because they are getting close to production on the Haldimand well, but we will only know when they come out with an update on their activities. It seems very strange that the share price is up the way it is without an announcement (although I'm not complaining). I own a lot of shares of this company so I hope they have great success. Petrolia owns a huge amount of land in the Gaspe and the only other company that I know of that owns land in the area is Junex. All the other permits that were once available are now being held by the Quebec government and are scheduled to be auctioned off. I checked it out. Now,..... why would the government be auctioning these permits off? Probably because they will earn MUCH more than they did under their old system where prospectors could stake property for about 10 cents per acre (plus work commitments). It also makes sense why they will NOT be auctioning them off any time soon. In my opinion, they also want to see what happens in the area. The Government of Quebec will make a lot more money if Petrolia puts the Haldimand well into production and they have hundreds (or thousands) of barrells of production per day. Could you imagine the interest in those Gaspe permits then?.......it would be phenominal.
I will look forward to more news from Petrolia. I believe this story is slowly starting to emerge and is only going to get much more exposure as more information is made available. Good luck to all those long on Petrolia and good luck to those living in the Gaspe. Great opportunities for that area await.
Tbonepickens