RE: Dont Bail Out Just YetDon´t worry. I´m too deep in the red with this one. But I´m prepared losing it all rather than selling for a penny. I wonder if friend Buffet would agree in doing so. Too much time and nerves invested along with cash.
The decline in share price over the last couple of weeks doesn´t worry me at all. At these tiny volumes a few hundred bucks destroy a million in market cap.
As to Four Sands. There´s simply nothing to be found about them. Seems to be more like a secret society than a company. By the way: PEP never stated Four Sands would be the partner for their Bakken leases.
Quote: "Negotiations continue as Four Sands continues to acquire suitable properties to introduce to Petrostar for possible JV projects."
The Bakken leases, according to the last Financials, have been or will be renewed: "The company has however paid the lease renewals for Moosomin and Rocanville Saskatchewan which will keep the properties in good standing for 3 years. The company’s land manager is currently negotiating new lease amounts for the Kirkella, Manitoba properties."
You can ask why Four Sands "continues to acquire suitable properties" somewhere in the world, when PEP´s holding properties right on the doorstep. Maybe Four Sands thinks in bigger terms.
The main goal is still to secure a financing deal to drill the Bakken leases. The JV with Four Sands is just a side track, which, as stated in the news, will necessitate further payments to participate in any project.
Glta.