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Petrichor Energy Inc V.PTP.H

Alternate Symbol(s):  ODEFF

Petrichor Energy Inc. is a Canada-based oil and gas exploration company. The Company is focused on acquiring, exploring and developing new oil and natural gas reserves in North and South America. Its property consists of Marble Falls Property. The Marble Falls Property covers approximately 11,695 acres of oil-rich Pennsylvanian Limestone, located in the Forth Worth Basin, North Texas in various counties, namely Young, Jack, Archer and Clay Counties. The Company has acquired a 66.67% working interest in Marble Falls Property. Its additional formation targets include the Atoka Conglomerates, the Caddo Limestone and the Mississippi Limestone (Chester Lime and Chappel Lime).


TSXV:PTP.H - Post by User

Post by realfacts99on Mar 08, 2014 10:27am
215 Views
Post# 22298019

I think the only pumping going on here is in the stock?

I think the only pumping going on here is in the stock? Last year there were more than 15,000 oil wells drilled in Texas  and they certainly didn't produce 100,000,000 barrels of oil each. An average for the previous 5 years was about 6500 wells per year.
In North America, 47 % of all the land based oil drilling rigs are presently based in Texas. Fracking is not some new technology, it is now used in over 90% of all North American oil wells  This process has been used since 1949.
I think the likelyhood of hitting it big with your first well is remote, but with modern methods of information distribution, it is easy to distribute misleading and  wishful statements as "looking ahead statements".  Value comes from production, not from hype. I think that all efforts I am seeing here, are efforts to start  a feeding frenzy based on speculation and supposition,
What do you think?
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