Questions? Can someone answer some questions? I doubt anyone going to the AGM, but if so, please report here.
1. The unconventional play, I assume is shale, does anyone know if it is gas or oil they are hoping to be able to find and extract economically?
2. On the shale play, I know some countries are anti fracking, I know Spain has already had some debates and I had heard that the unconventional partners that are no longer in the unconventional play may have been the ones who pulled out of because of problems in Poland, which has the largest known shale reserves in Europe. I am not sure if it was environmental concerns or what.
3. Has anything ever been published on the odds of finding conventional oil and gas in relation to the unconventional shale plays. Obviously it would seem conventional finds would be far more beneficial to all concerned.
Does anyone have access to insider trades? I have heard that the executives of PEC, who are probably the largest shareholders, are no longer taking a salary and was wondering if any of them are showing up as selling, which could be more out of necessity than a telling sign. If they are not getting a salary, obviously it is to their benefit to try and enhance shareholder value as much as possible. It also would mean that they probably want to make a move sooner than later, I think an obvious downside is that someone in a very weak financial position is not in a great bargaining position.
Lastly, if anyone is interested, there is a large article in the Dec/12 issue of National Geographic on Shale oil and gas in the States, they show a map of the shale reserves and they are spread throughout the Continental US and Alaska. Being National Geographic, they obviously show the environmental concerns including a picture of a woman holding a match to her kitchen sink tap water and it is burning like a blow torch.
Thanks for any input.