Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

PMI RESOURCES LTD V.PMI

"Petromanas Energy Inc is an international oil and gas company. The Company is engaged in the acquisition, exploration and evaluation of oil and gas properties in Albania, France and Australia."


TSXV:PMI - Post by User

Comment by Oilpro2001on Feb 14, 2018 1:54pm
118 Views
Post# 27559352

RE:RE:RE:I see the pumpers have..............

RE:RE:RE:I see the pumpers have..............With a good production test they could book reserves to the "discovery" well, but only probable and possible reserves and not proven reserves as the latter requires that the well is connected and and making commercial sales. Banks only lend against proven reserves, so I would say they will not be able to raise debt with a bank against the well results. The oil reserves that they have in Argentina have a negative netback as per the companies last quarterly report, so a bank will obviously not lend against those either as they are losing money on every barrel they produce. Their only option for financing is an equity raise, hopefully on the back of a good well result in Columbia.
<< Previous
Bullboard Posts
Next >>