Petromin Resources Ltd. V.PTR.H

UNCITRAL

[Ceiba]

Base only on 60 UNCITRAL arbitration proceedings resulting in a final award, the number of days between notice of arbitration and award is given with a mean of 1,446, and a median of 1,245.
 
We have now passed the mean of 1,446 days, and falling on the final half of the distribution and with little info to go on, I roughly arrive at a new mean to be 1,446+622.5+100.5 = 2,169 days or just under 6 years.  (but it may at happen at any time)

[easyoasy]

good research Ceiba......on the other hand it may already have failed and we would have heard nothing about it ,or it may have already succeeded and we heard nothing about it, the refusal of this company to update it`s long suffering shareholders is on par with their ability to properly run a company, where are all the long overdue interims ?? Who has made any money out of this company over the

[Ceiba]

Easyoasy, it's still ongoing.  As well, David Hall-Jones - Winston & Strawn LLP also has not posted news of it being finalized.  These arbitration take years, just that I didn't expect this one to take this long, not yet in production and all.  But it's all procedural, not much we can do but to wait.  Energy and Natural Resources CBM PSC Arbitration.&

[easyoasy]

Thanks Cieba for the update. However why is PTR BoD not trying to move this company forward , they have not submitted financials , they have oil properties, remember the News release when they took on the "expert" who was going to refurbish and upgrade wells? No attempt made to raise capital and get things moving. I still maintain they are going to delist completely and go private in

[Ceiba]

I don't think it's economical to continue with their oil properties at current energy prices.  If it is trading, there will be all kinds of fees to pay.  I personally am just waiting for the arbitration award and retire sooner.

[easyoasy]

Cieba I beg to differ , tar sands ,argueably  has the most expensive costs to produce ,are profitable at $50 a barrel ,we must be able to produce profitably at less , of course maybe our BoD overheads are to high and someone was getting too big a slice of the pie JMVHO