There is more upside, though. If you take profits keep an eye out. The oil sands assets are one thing, then this 1000bpd exit is worth $5/shr also, because so few shares out. These guys have done it before.
Patch CEO Updates Company's Alberta Oil Sands and Conventional Oil Drilling Activities in Online Interview with CEOcast
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VANCOUVER, Feb. 1 /PRNewswire-FirstCall/ - Patch International Inc.
(PTII: OTCBB) specializing in oil and gas exploration and production, today
announced PTII's CEO, David Stadnyk, has given an interview to online investor
news source CEOcast, in which he discussed the Company's structure, recent
achievements and current strategies to develop projects in conventional oil
and gas production and the Alberta oil sands.
The streaming audio interview is available to all interested investors.
To access the interview, visit ceocast.com.
"We are very proud of PTII's progress and we are looking forward to a
very successful 2006," said Mr. Stadnyk. "Over the next six months we expect
to be drilling five Alberta oil and gas projects that could give us production
of 1000 to 2000 bbls/day within the next 12 to 24 months. Further, we are very
encouraged by the opportunities that we are exploring in the Alberta oil
sands, particularly the Athabasca oil sands"
ABOUT CEOCAST
CEOcast is the premier source of original and syndicated streaming
broadcast interviews of chief executive officers at public and private news-
making companies. Organized by industry, its analysts average more than 15
years experience covering and evaluating Wall Street's leading companies.
CEOcast's programming is distributed to online investors over numerous
financial web sites as well as to many portfolio managers, buy-side analysts
and traders at North American institutions. Content is also disseminated to
investment research professionals representing a substantial number of
institutions.
ABOUT PATCH INTERNATIONAL
PTII is a junior oil and gas producer that currently earns oil revenue
from 20 oil wells. These wells provide the company with short-term and long-
term cash flow. PTII has drill programs on three properties in Alberta
scheduled for this spring. PTII has properties in North America, and is
exploring opportunities in the Alberta oil sands and South America. PTII has a
strong cash position as a result of being substantially underway in its
program to sell its 11.2 million shares investment in Pharmaxis. The Company
has declared a dividend, whereby shareholders of record as at July 30, 2004,
will receive on a pro-rata basis 50% of the net proceeds after taxes and costs
of the sale of the Company's Pharmaxis investment and net of any other costs
and taxes that may arise with respect to this matter. The distribution will
take place after the Company has completed the final sale of its Pharmaxis
shares and is subject to the Company receiving all the required regulatory
approvals.
For further information visit our corporate website at
patchinternational.com.
If you are not currently on the PTII updates list, please send in your
email to info@patchinternational.com or call 888-864-7372 with the best way
to keep you informed. We will send out regular updates and news releases to
everyone who asks to be on the list.
Contact:
Investor Relations
Tel: 888-864-7372
Fax: 604-688-5390
Email: info@patchinternational.com
CEOcast
Mr. Ken Sgro
Tel: 212-732-4300 Ext. 12
Email: kensgro@ceocast.com
The foregoing communication contains forward-looking statements. All such
forward-looking statements are, by necessity, only estimates of future results
and actual results achieved by Patch International Inc. may differ materially
from these statements due to a number of factors. Patch International Inc.
assumes no obligation to update these forward-looking statements to reflect
actual results, changes in assumptions or changes in other factors affecting
such statements. You should independently investigate and fully understand all
risks before you make investment decision.
SOURCE Patch International Inc. |
