TSXV:PTP.H - Post by User
Post by
realfacts99on Mar 08, 2014 10:27am
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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?