Some more interesting info for PetroshaleHere are a few more interesting bits of info for Petroshale that I was able to put together....
** Drilling has finished at 4H so I would assume completion operations are in the works or could already be started.
** Drilling has begun on the Horse camp, 100% operated Petroshale DSU
** This is an Exerpt from Deans Knight Capital Managements First Asset Resource Fund Inc
https://www.firstasset.com/documents/2/20170630_2003_MRFP_e.pdf?21704 During the period, the Portfolio Manager initiated a position in PetroShale, a small oil and gas producer with assets in the North Dakota Bakken. The company is run by founder Bruce Chernoff, who has an ownership stake of more than 40%, and who has had numerous successes in his career, the largest of which was the $4.1 billion sale of Harvest Energy Trust to Korea National Oil Corporation in 2009. In April, the Fund was a small part of $70 million in new capital into PetroShale, which will be used to pay down debt and execute an extensive drill program. The company is partnered with EOG Resources Inc. and Enerplus Corp., some of the largest, most efficient operators in the basin. Furthermore, PetroShale’s land base is stacked with four productive oil zones, which multiplies the number of potential drilling locations. The present value of the company’s proved and probable reserves is estimated at $300 million, while its management believes potential drilling locations will eventually prove to double this number. ** Deans Knight Capital Managements First Asset Resource Fund Inc Portfolio holdings listed below...
Summary of Investment Portfolio The following is a summary of the Fund’s investment portfolio as at June 30, 2017. This is a summary only and will change due to ongoing portfolio transactions of the Fund. A quarterly update is available on www.firstasset.com.
TOP HOLDINGS AS AT JUNE 30, 2017 Description % of Net Asset Value
Petroshale Inc. 16.21 % NexGen Energy Ltd. 9.95
Paramount Resources Ltd., Class ‘A’ 9.48
West Fraser Timber Co., Ltd. 8.27
Pengrowth Energy Corp. 7.87
Lundin Mining Corp. 7.06
Parex Resources Inc. 7.02
Tourmaline Oil Corp. 6.76
Maxim Power Corp. 5.91
Lucara Diamond Corp. 5.09
Pine Cliff Energy Ltd. 4.92
Nevsun Resource Ltd. 3.86
Lundin Gold Inc. 3.47
Pure Gold Mining Inc. 3.00
Asanko Gold Inc. 2.93 Cash and Cash Equivalents 1.27
RTG Mining Inc., Warrants, 2017/06/04 0.00
Virgin Resources Ltd. 0.00
Total Net Asset Value $7,206,882