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Paramax Resources Ltd V.PXM



TSXV:PXM - Post by User

Comment by TheJesuson May 28, 2010 11:09am
335 Views
Post# 17140006

RE: Thejesus...Why do you think BUK over PXM

RE: Thejesus...Why do you think BUK over PXMIf they sold Durango alone the debt would be wiped out now.If they kept it and let it flow at the current rate the debt would be wiped out later.150 million dollars is worth the same over 6 years as it is over 2.The waveny platform situation slowed them down by not being able to finance drilling on their other prospects.But that is even less important than coming up dry on the north piper, but that's the way the ball bounces.If you found product everywhere seismic tells you it should be I'd have my own oil company.BUK has a larger market cap for good reason.Bold moves are BUK's style,it may have cost them an eyball in the north sea but if you decide to swing a big sword around you may end up with an eyepatch or peg leg.I would say jumping out of the north sea into an unproven area of Idaho would be a bold move,even a baffling move at the time.It turned out to be a smart and cheap move.This is moving ahead very quickly and that is due to experience,of which PXM has none.BUK is not interested in 100000 acres, they want the whole basin.Read everything in the news release they have already added more acreage and if they like seismic as it comes in they will keep adding more.Pick your company and make money either way just don't be suprised if one ends up way out in front.By the way BUK will be keeping the Steamboat and farming out 50% this is a 180 million barrel prospect.That would be over 6 BILLION to BUK. 50% chance of a hit? 10% chance?I'll tell you I'm taking the company that's running the show in Idaho AND has other cards to play.
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