Petromin Resources Ltd. V.PTR.H

Energy

"Petromin Resources Ltd is a petroleum and natural gas exploration and production company in Canada. It is focused on its core operations, which include oil and gas producing properties in Alberta, Canada along the Western Canada Sedimentary Basin. The company owns an interest in Frog Lake area which consists of oil deposits, Gilby Property, Morningside Property, and Redwater North property."

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Petromin Resources Ltd. > How is this not at half a cent already?

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Comment by easyoasyon Apr 07, 2017 9:27am

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Post# 26090559

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:How is this not at half a cent already?

Decoitis was attempting to recover assets that belonged to the company.
Gorrel et al were not prepared to do a PP for TerraWest via PTR but were prepared to do it via other companies in which..
1 they were shareholder
or
2 they were board members

For IMHO their own best interests

At the time these PP`s were carried out there were very strong indications from the ongoing exploration program that it could be huge .
The judgement does not say that the Decoitis claims were wrong what he said was that the Company PTR had no cash (big surprise) to pursue the claims see judgement below ...

Petromin Resources Ltd. dissidents Ivano DeCotiis and Tyrone Daum have lost their legal effort in the Supreme Court of British Columbia to begin a lawsuit on the company's behalf. A judge has ruled that the proposed lawsuit, which would have revolved around a potential $1.8-billion (U.S.) arbitration award, would not be in the company's best interest. The company has no money to pursue the matter and the prospects of success would be poor.

The mess this company is in is entirely down to the BoD no one else.

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