GREY:CUDBF - Post by User
Post by
Flashstocktradeon Sep 17, 2014 10:18pm
234 Views
Post# 22946572
Booooooooyyyyaaaa
Booooooooyyyyaaaa
Written By: James West
|
September 2, 2014
|
Posted In:
Petro One Energy Corp. (TSX.V:POP) recently announced that Korean Myanmar Development Corporation, a Korean sovereign-wealth backed investment firm, would invest ‘up to $100 million’ in Petro One’s drill program of up to 97 wells in the Western Canadian Sedimentary Basin. In an interview published in the Korean daily Korean Securities Daily News earlier today and translated from Korean here, the Chairman of KDMC stated that his company was going definitely to be investing $100 million in the company.
The world’s oil reserves are gradually being depleted, and as such, there is worldwide competition for oil development. Representatives of OPEC are just one of many who are competing to get into developing resources, in order to grow the future of energy. Oil development can play a significant role in a nation’s economy. KMDC was the first Korean company to invest in equity and developing oil fields. The following is a Q&A session with Chairman Lee Young-Soo of KMDC.