TSX:PVS.PR.G - Post by User
Post by
wofatson Jun 20, 2001 11:57am
111 Views
Post# 3897039
are we on track??
are we on track??The island play is kinda the sizzle on the steak isn't it? The focus is the N.E.B.C drilling and pipeline .The financings that have been done are for drilling the new gas well and for the pipeline ..They will come online whenever the ground drys up enough for them to work up there,and not cause problems with the roads when they move heavy equipment around..The .9:18 well thats being drilled is going into a new zone that should bring a net ,somewhat conservitivly,of 75,000 per month to Priority's coffers ..This would allow them to actually punch more holes and improve that The Doig Zone that seems to have much promise and if it proves up could support maybe 25 wells ..Each well has the potential to add 50,000+ per month.With the added cash flows there could be one drilled a month with no additional financing..That is where the money that has been solicited has gone or is going isn't it?? This alone is a company maker.
It loooks to Me the island will be drilled in conjuntion with these goings on or very close to their start dates it looks like anyways..
Rumor has it the applications for the drilling on the island have been approved and the wait is for them to be actually in hand before any start date can be announced ..First holes should be like step outs to confirm a drill zone?? The driller has walked the property and has had a look where the first holes should be put down ..They will probably not be going in before july as I see things, but timing is everything..the A,G.M. is comming up and it would be good for us investers to see the drilling in progress ,so you never know.The money for this is comming from the private placement that is in the works now.
It is encouraging to see the volume and prices are up on the stock and that the trading size of transactions has shrunk to the under 8000 share level,mostly anyways..The news seems to be getting out and the shareholder base is getting larger..
When actual news starts flowing ,and it will ,things will start to improve more than they have ..The potential here is huge.
Things seem to be progressing in an orderly fashion and mostly on track..