MORRO BAY RESOURCES LTD V.MRB

RE:Penoles project

[Sophia123]

Hiya picasso1 !!!!! I hope you are having the BEST day!!!!!
What 51% ownership??? Morro Bay Resources Ltd doez not even own ANY percent of Penoles project. They gotta spend $750k on Penoles project just to get the option to earn 51%!!!! And to geto only 65% TOTAL they gotta spend ANOTHER like $1.35MILLION cash and ANOTHER $1.5 MILLION in Morro Bay Shares by JULY 2014. That is like 4 months away huh??? I do noth think that they will get a lot of those drill results or maybe not even ANY drill results by the time they need to pay for that option stuff. Soooo I think MAYBE that they will need to raise more money pretty close to July 2014 with not very many drill results stuff. I dunno. Thingz look and look quiet risky for these first couple of months and STILL the most they could have of the project is like 65%. Then it is made more WIERD with mostly oil and gas and energy people running the company. Quiet interesting huh???? I dunno.

The current drilling campaign underway on the Property is being conducted pursuant to a commitment by Morro Bay to perform $750,000 of exploration work on the Property whereby giving Morro Bay an option to earn an initial 51% interest and up to 65% interest in the Property and pay to Riverside $1.35 million cash ($100,000 and USD$1,250,000) and $1.5 million worth of Morro Bay Shares (or cash at Morro Bay's option, provided that if the market value of the Morro Bay Shares is less than $0.05 based on a 30 day VWAP, such payment must be made in cash) by June 30, 2014.
Read more at https://www.stockhouse.com/news/press-releases/2014/03/03/morro-bay-resources-ltd-announces-commencement-of-3-000-metre-drilling-program#JfLtPbRQkxlabo9m.99