PGY 0.00% 2.0¢ pilot energy limited

Chinese investors behind KEY' $1mil captial raising

  1. 67 Posts.
    Interesting release from KEY Petroleum late yesterday...
    [If you don't already know, they are JV owners with PGY on WA-481-P (with 435 millions barrels of oil equivalent prospective resources I might remind you!!) and EP-437.]
    The recent KEY $1 million capital raising investors have been named as ASF Group Ltd (ASF), the ASX-listed Sino-Australian investment company behind the $3billion Gold Coast Integrated Resort (casino, hotel, entertainment, etc..) who chipped in $320,000; and the other being Start Grand Global Limited out of Hong Kong who kicked in $680,000. One can only assume this to be play money for these investors with very deep pockets.
    Nonetheless it is worthy of mention given that PGY majority shareholders with 45% are of Chinese background.
    I can sense some big things ahead for both KEY and PGY. It's pity the 68mill x $0.002 sellers of PGY are creating a 'cap' on the SP at the moment. It shouldn't be long before demand boots them out of play and we can see a trading range of $0.004-$0.01. PGY's AGM on 28Feb should no doubt approve the 10% share capital increase so will be very interesting if/when the directors exercise that and who will be on the registry. In the meantime, given management and directors' progressive form, I think we may see an announcement on WA-481-P with MOU on farm-in partner. All up it's looking very positive...still holding!
 
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