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Renaissance Oil Corp. RNSFF

Renaissance Oil Corp is engaged in the acquisition, development, and production of oil and natural gas in Mexico. The group's properties include Mundo Nuevo, Topen, Malva, and Ponton.


GREY:RNSFF - Post by User

Post by Boots333on Feb 16, 2019 3:56pm
209 Views
Post# 29375712

Restrictions on Release of Info

Restrictions on Release of Info

ROE management has made it clear that ROE is not able to release any information about the Amititlan contract, the drill results from the Chincontepec drill program, the drill results from the Upper Jurassic well, or any technical information. In order to release the results by a press release ROE has to have the Agreement from Lukoil, Marak and from Pemex and Pemex has stated they will not authorize the release of any information. So all of the results that ROE would like to release needs Pemex permission and Pemex does not want the information released. 

 

ROE has, in fact, released all of the information regarding the Chiapas drill program, except the start date and funding. I expect they do not want to release information about the funding, other than to say they will have the funding as it is likely in some way connected to the funding on the Amititlan development. 

 

ROE management does want the shareholders to know that they are working full time, and what they are working on. So ROE management will provide, without infringing on the agreement with Pemex and its partners, information on the work that they are doing or that they have completed, without giving specific details. For example they continually provided information to me on the progress on the Chincontepec wells as to how many were drilled, completed and on production and giving a range of 30 BOD to 250 BOD or higher. They give out drilling cost information, length of drilling times, as much information as they can without details. ROE management is frustrated at the restrictions.

 

Once the contract migrates, then ROE will be in charge of the ability to release information and we should see a steady stream of releases. 

 

As it is, ROE wants all shareholders to know what they are working on and some of the challenges they have overcome. 

 

When I say they want all shareholders to know, the information I obtain is available to anyone who picks up the phone and talks to management.  Management is aware that anything they tell me will get passed on to other shareholders quickly and in detail, but managment has made it clear always been clear that any shareholder can call and they will answer questions to the best of their ability. 

 

I call about once a month and I ask a lot of questions and I then take the time to write up the information and post it.  I have asked questions, over time, about all aspects of their work, such as road building, pad building, co-operation of land owners, financing, politics, security, and how they do their work, so that I can understand the whole of the operations better and I can see how thorough management is and how they are paying attention to detail. This is a highly skilled and successful management team who have a goal of building a large successful company. From all of my discussions it is clear to me that this management team are in for the long haul and want to build a multi billion dollar company and they can do this with the Amititlan contract, but in no way have limited themselves to just this contract.

 

Hope this helps.

 

 

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