GREY:CUDBF - Post by User
Post by
houstockon Jul 05, 2015 9:43am
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Post# 23892692
POP has $1.4M in cash and is debt free.......@May 7, 2015
POP has $1.4M in cash and is debt free.......@May 7, 2015 The Company also continues to receive royalty revenue from its farm-out well at Bromhead, which has produced more than 21,700 barrels of oil during 2.3 years of continuous production to date.
The Company has $1.4M in cash and is debt free, and will continue to explore creative ways to unlock value in its assets. Even in these difficult markets the Company continues to receive expressions of interest for its assets.
Petro One is also one of the largest shareholders of Goldstrike Resources Ltd. (GSR.V), which recently announced a drill program to follow up on its high grade discovery holes on the Plateau Gold property in the Yukon (Goldstrike Resources News Release May 4 2015). With 6 million free trading shares and 7 million warrants in good standing, Petro One is well positioned to benefit from Goldstrike's ongoing exploration success, which could provide the Company a source of non-dilutive capital going forward.