Petro One Energy Corp CUDBF

Interesting. KMDC did not drop out. They are in.

[rbt2b2]

Richard Kosick's Petro One Energy Corp. (POP) had a bad day, plunging 35.5 cents to 38.5 cents on 5.45 million shares. A previously announced financing arrangement with Korean investment firm KMDC has been delayed. In late July, KMDC agreed to financings of up to $100-million, beginning with $6-million in private placements that were scheduled to close yesterday. Instead, KMDC has asked for an extension to Oct. 7, citing the need for extra time to meet financial authorities' demands. Petro One had been hoping to start drilling soon after the money was received and had already started the permitting process for the initial wells. Under the terms of the agreement, KMDC will provide up to $100-million in two phases of financing, for the drilling of up to 97 wells with Petro One in Saskatchewan and Manitoba. The news more than tripled Petro One's stock over the following weeks. Today's delay, however, is making investors nervous. (Some of them may remember that in the spring of 2013, Bellatrix Exploration Ltd. (BXE: $8.01) arranged a $300-million joint venture with a Korean company -- never identified -- which asked for a one-month extension, then dropped out altogether. Bellatrix's stock fell on the news, reaching a low of $4.70, but it has recovered since then after finding new joint venturers.)

[m8magic]

yep , its nice to have them in and committed and signed up and already putting money in the bank...what a feeling eh...relieved after the little hiccup last month...

[rbt2b2]

Also says that KMDC committed to full 100 million investement.  With the consultants on the team the drilling should be interesting.

[m8magic]

its what they do with the proceeds from production....aquisition after aquisition of money short juniors with good holdings is my view...growth , growth , growth...

[rbt2b2]

Nice thinking.  Never thought of the juniors with good property and no way to finance it.  Not only that but if KMDC wants to take over others they need a team of smart consultants to work with and the Exon guys are those guys.  Don't need production money if you already have money.

[m8magic]

well its secure that POP is the vehicle that will be used , like i suggested along time ago , this is a back door in without having to deal with the foriegn investment review agency and now with the free trade agreement signed Monday with South Korea the avenue is now a freeway with no red tape. Its amazing what is put into this deal that goes far beyond what we know, but thats the way business id

[kha341]

Don't forget that that the $500K + $500K (26 Sept) represent part of the Korean participation in the PP that would allow them to get units @ 25 cts and warrants @ 37.5 cts. With the sp well in the 50s, KMDC has already made a humongous return as their CEO has put it in an interview. So why the payment in 2 instalments of $500K each? The house you are buying is valued more than $200K on the

[m8magic]

they are on a 4 month hold on trading any p/p just like any participant , and i highly doubt there stock will be trading as they will want much higher apreciation .i like the part of the" fund" interest in the p/p as well to the tune of 2 million bucks .I think the one chap indicated that once the stock was trading at 5 dollars the whole 100 million investment is paid for and the KMDC