POP Drilling Multiple Wells 100% POP'sHi Constructive Individuals/Investors,
With $100,000,000 COMMITTED BY Chairman Lee in a one on one interview with the Korean Securities Daily news it`s a no brainer that Petro One’s MCAP of $46MillCDN is an easy double based on just cash alone.
The money from this current equity financing does not form part of the JV and that allows POP to get 100% of the cash flow from the first wells drilled. This is a very investment positive point in my eye’s that has been overlooked by most investors. As the President of Petro One below states ``Petro One is now in a strong position to drill the first wells`` looks like 51-101 P1 reserve news from the drill bit is coming quickly.
PETRO ONE INCREASES FUNDING BY $2,000,000 ON INSTITUTIONAL DEMAND August 18, 2014 - Petro One Energy Corp. (TSX-V: POP) is pleased to announce that its $4,000,000 private placement announced on July 28, 2014 has been fully subscribed and that, due to high demand, it has placed an additional $2,000,000 on the same terms, principally with institutional investors and fund managers. Based on the overwhelmingly positive response to its agreement with Korea Myanmar Development Company Ltd. (“KMDC”) for funding of up to $100,000,000 to drill up to 97 oil wells (July 28, 2014 news release), the Company filed a price reservation with the TSX Venture Exchange for an additional $2,000,000. Both financings have been fully subscribed and the Company is now in a position to make its final filings with the Exchange. “Petro One is now in a strong position to drill the first wells,” said Peter Bryant, President. “With these financings firmly committed, the Company immediately commenced the permitting process for the initial planned wells. We look forward to reporting the commencement of drilling.”
If $100,000,000 is coming into the company & POP`s current MCAP is half that ($46Mill MCAP) right now ask your financial advisor if you should by it.
Always do your due-diligence.
We seek safe harbour.