Petrominerals ( PTRO ),,,This stock has very little float,,,The main asset is a oil field near Castiac Cailfornia where they own the land also.( The area is in a heavy development rush! ) The oil wells appear to be about fourteen years old and about 5000 feet deep. They use KD injection and hot water only! None of the wells are horz.!
....This stock hasn't been over .40 for quite a while and friday it hit .75 with a vol. of 9000 shares only! Oh, 80,000 shares moved about a week ago with no change in the stock price.
.....Funny,,The top well only puts out 16 barrels a day.
.........Pure spec.-- This would be good place to try a dirrectional drill, enzyme injection, or ultra deep steam.
.............Just 50 miles west near Piru , wells which have been drilled to
10,000 feet now are producing 100 plus barrels a day free flow.
.................The strange thing is that PTRO doesn't own some of the wells. Each individual well is a partnership but the company gets a percentage and maintains everything. Nothing is modern at this place.
They take gas from the wells and run it direct to the water heaters and co generator. The real strange thing is that there is no vacuum and they don't sell any gas.
........Yahoo says they have an investment banker on board .
Very Strange Things Area Going On Here,,,,But What? |
