PETROSTAR Message Board - Msg: 27294858

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Gold/Mining/Energy : PETROSTAR

PEP 139.20

-0.5%

1:27 PM EST

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To: Westboro who wrote (41)	4/8/2011 8:57:39 AM
From: james flannigan	Read Replies (1) of 50

I think Bruce made the right decision.The shares of PEP are depressed in this oil rally under way.I now think the shares are a strong buy as they were factoring in the deal bust between PEP and CCMB.The unknown is now known. I think Bruce should now get a drill and drill a hole or two with the cash on hand.We had to give 50% of our interest away under the terms of the CCMB funding.The shares should now start to trade up to reflect our 100% control again and a possible in house drill program. We would be better off not giving half the farm away even if we issue 25% more stock to get the drill turning. I hope that Bruce and the board will follow up now in the next few days with a plan to proceed. In my view CCMBs loss is our future gain.If they ever want back in the after we take on the risk by drilling it ourselves and make a discovery then we should play hard ball if we ever enter a new deal.The terms if I were running the show would be in the best interest of PEP share holders. I expect Bruce will do the right thing and hire a rig ASAP. James

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