OTCPK:WSRLF - Post by User
Post by
Coffiniteon Mar 31, 2010 10:03am
392 Views
Post# 16943585
WZR vs. PMI
WZR vs. PMIThis is more relevant to PMI, so it might be best to respond on the PMI board. It seems PMI is targeting depths even greater than WZR.
A few points for possible discussion on PMI:
PMI's outstanding shares is at 500 to 600 million? That is alot, but how many are actually trading on the open market? I understand PMI has about $25 million in cash from the last financing, so how much cash do they have on hand?
PMI reminds me a little bit of WZR - minus the pill boxes for security. I find it interesting that PMI projects drilling to ~4900 meters on their block 2 with costs of about $22 million. WZR has had many problems drilling their current well (Kurdamir-1), and they reached about 4100 meters with costs at $90 million thus far. Lots of sidetracking by WZR.
I noticed PMI started work on their block 2 in July 2009, and work including drilling will continue til July 2012. Does anyone know when they will actually start drilling on block 2 or any other block?
Thanks!