PRE's interest in the NZ oil/gas tenements has been known for a long time. Last year there were press releases that the drilling in NZ would commence in Feb 2008. It looked interesting to me, but I have no expertise in oil/gas and bought into PRE for its gold prospectivity.
It seem to me that PRE could sell some of its oil/gas tenements to fund future gold drilling in WA. I am hoping against hope that before that happens some significant oil/gas desposit is found. If that were to happen it would come alive and PRE would be able to raise more capital on market based on a much higher share price than what it now faces.
loki
PRE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
