But,
Over last day or so it has dawned on me where we are really at.
If I am wrong, please set me straight.
These leases are held by Scheup’, granted by Ancap?
The leases are about to expire.
Scheup’ “farmed” us in to complete the surveying, analysing and testing firstly, then the drilling of 4 test holes.
All to be completed within a timeframe. (Impending lease expiry)
After a series of almost comical delays, we have reached a situation whereby we cannot finish our obligations because we actually gave Scheup’ some of our money “back”.
Ancap acknowleges the impending lease expiry, and acknowleges the holes will not be completed because “Petrel shareholders have refused to finance the completion of the drilling obligations”.
Scheup’ boys are contrite and apologetic. Not for their role, but because they have found Petrel to be unreliable.
Ancap will reallocate the leases to someone who CAN finish the holes.
Im betting that will be the Scheup’ boys, and perhaps someone else.
Petrel are the patsy’s.
PRL Price at posting:
0.2¢ Sentiment: Hold Disclosure: Held
