GREY:CUDBF - Post by User
Comment by
CruelCanuckon Feb 04, 2015 9:51pm
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Post# 23397647
RE:Petro One NEWS!
RE:Petro One NEWS!Great point BrusselSprout, however I do have to add that POP's horizontal well produces at a very low cost... Ontop of that, KMDC is legally liable to give POP $14M.
Also, with the Free trade agreement between South Korea and Canada, they can be held accountable.
Remember, KMDC had given written intent on several occasions towards providing the funds and having the chance to opt out of phase 2 funding if they so choose to.. There is also the contract that was signed by KMDC stating that if they do not provide phase two funding, they will be obligated to pay $18M instead of $14M.
On a side note, the phase one production of the wells has been more of less paid for if I'm not mistaken, therefore even without KMDC ( good riddence) POP will have no issue selling this oil and making profit.
In the end, all we need for this puppy to bounce is profit.
P.S. Im no stock pumper I just tell it as it is, so please do let me know if I have said anything that would be considered not entirely true.