Great move by PQEThe $ 900,000 financing was done at 27 cents Canadian for the Utah lands to begin operations.
They are able to produce 500 barrels of oil per day at a profit of $ 65 per barrel of oil.
This means revenue of: $ 11,862,500 from oil
PLUS,
Selling of clean sand of $ 5 per barrel of oil: $ 912,500 per year.
Do not forget we have 2 licenses from Netoil totaling $ 12,000,000 USD and, 2 from Cantone totaling $ 4,000,000 USD.
We also get 5% royalty per barrel of oil sold. NETOIL will be a major producer, maybe 100,000 barrels per day.
So we are FINALLY moving in the right direction.
The message to VISTON is clear, it is a F....off message, either you close the deal on September 9th without CFIUS approval at 74 cents or, take your sh***it elsewhere, with fake bank, fake insurance, mystery buyer, DA investigators, bad press in newspapers and etc....
So drama continues on.
Realistically, if PQE keeps signing up license deals and they produce from UTAH land, the stock will soar way beyond the 74 cents offered by Viston.
I would have done the same.
The present management of PQE is not the old corrupt management. You can see a huge difference.
Very bullish.
My personal opinion,