The company is called
Petroforte, and the stock symbol is PFI-TSXv; DTEYF-PINK. I’m about to tell you why I bought
1 million shares at 5 cents, and with the way I write it will all sound wonderful. But remember, this is a start-up. Lots can go wrong, and every well can be a live or die event for these undercapitalized stocks.
Petroforte director Kevin Adair is the #1 reason I like this very cheap stock. Kevin is the President and CEO of a private company called Petrus (
www.petrusresources.com). Here is his bio from that website:
“Mr. Adair is President, CEO and Director of Petrus Resources Ltd. Most recently, Mr. Adair was a co-founder and Vice President Engineering of Spry Energy Ltd., which grew from a standing start to 2,800 Boe/d, mostly through the drill bit, until it was sold for $225 million in April 2011. Prior to Spry, Mr. Adair was Vice President International for Petrominerales, and before that he was President, COO and Director of Petrobank, leading the company from 600 Boe/d to 4,000 Boe/d. Mr. Adair has also held senior roles at Mountain Energy, Resman Oil & Gas, Amerada Hess and Voyager Energy. He is a Professional Engineer with a BSc in Mechanical Engineering from the University of Alberta.”
Kevin has built and sold a junior. He now operates in the private realm, as many successful Calgary executives now do—not having to deal with many retail shareholders. At Petrus, his partner is Don Gray, founder of Peyto (PEY-TSX), the lowest cost gas producer in Canada. Don is proud to say he ran Peyto with less than half the employees of his peer group, and I believe current PEY president Darren Gee does the same. I am talking about an incredibly high level of competency.
There is an unofficial (but VERY real) caste system in Calgary where the management teams are ranked and pegged by the Street. Kevin is a Brahmin (top of the food chain) along with Don and Darren and Neil Roszell of Raging River, Dave Wilson at Kelt and the Colborne/Saxberg team at Crescent Point etc.
Petrus is also the JV partner for Manitok on their Stolberg play.
Kevin is full time at Petrus, and is officially just a director at Petroforte, but he will have millions of shares after the 5 cent financing they just announced today,
and he brought in management,
and he negotiated the first property deal—which is also very very exciting as you’ll read below.
He is not involved with any other public company. He has Petrus, and he has Petroforte. He's committed.