ProAm Explorations Corp V.PMX

Energy Oil & Gas E&P

ProAm Explorations Corporation is a Canada-based junior mineral exploration and development company. The Company operates in Canada and the United States. Its mineral properties include the Samuel Lake Project, Jet Property, and others. It owns an undivided 100% interest in certain claims comprising the Samuel Lake Property. Its Nevada property, which is the Jet Property, consists of about 57 claims. Its Utah property consists of about 10 claims and a school reserve has significant potential for rare earth mineralization. The Company has a 10.1 % working interest in a well in Logan County, Arkansas. The Company also has a 10.2 % working interest in a well in Oklahoma. Two wells, which are in production, are referred to as Okotoks 5-15-22-28 W4 and Okotoks 6-15-22-28 W4.

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ProAm Explorations Corp > PMX.V MD&A shows 42 wells will be back online this fall

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Comment by Profitic1on Jul 21, 2017 10:15am

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Post# 26494536

RE:RE:RE:PMX.V MD&A shows 42 wells will be back online this fall

I would love to see how your $3M number is calculated.
Look at the annual revenues reported by the company back in 2013-2014 when presumably the 42 wells were last on production :

2013 = $166,017
2014 = $172,512

How do you get a $3M aftertax NPV10 from that ???? And that was when natural gas prices were higher than they are now..Moreover, how is the company going to tie in the 42 wells when it has negative working capital and no line of credit ?

It looks like the President of the company agrees with my assessment as he is planning to sell 500,000 shares according to SEDAR.

Prof

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