Petro One Energy Corp CUDBF

According to current outstanding Legal Agreements

[biggeriron]

here is what still has to transpire: The Company does not propose to grant any further extensions. KMDC remains contractually obligated for the balance of PP#1 and, in addition, to advance $14,000,000 to the Company not later than November 7, 2014 for the drilling fund provided for in the July 25, 2014 Earning and Joint Venture Agreement. Read more at https://www.stockhouse.com/news/press-releases/2014/10/22/petro-one-update#I3F7MPJ4G6sXD53O.99

[CruelCanuck]

With a minimal value of 0.195 per share with out taking into account that there is 14-18 mill in cash coming, it seems to me as if this is one hell of a steal to get in at 0.215. I personally don't see any reason to bash this stock, seeing as how this agreement is protected under Canada- South Korea Free trade, which means business deals are completely enforceable. Let's not get suckered

[Hockeynut2]

The only problem is that KMDC had a completely enforceable contract once before and they reneged on it. Now they are late on this one too. It's become a show me story and I'm not buying in till I know the answer. GLTA

[CruelCanuck]

True, but it was agreed to on by both sides. THIS time if they don't give the money by the 7th then the contract is done but they are still bound by it. Remember, KMDC is simply the middle man, therefore they cant afford to mess this up again like they did in Myanmar. With proven oil reserves totalling to more than $300 mill+, I think an investment of 100 mill into this play is definitely a