We will now have a producing asset bringing in cashflow. Have researched around this already proven region(Cardium Sands, Alberta, Canada) and already attracts a number of big oil plays as noted below by tobyjack and Shell is also invloved.
Very much looking forward to further announcments re. Uruguay. From the earlier announcement this week Management seem very bullish on it's prospects.
Albeit only a small investment at the time, I held Cove Energy(LSE listed), of which in 2009 acquired acerage in previously unexplored offshore Mozambique and Kenya. Following discoveries of oil and gas share price rose 1,200% as Shell and PTETT were in a bidding war for the company. Anyone's guess should we have a similar outcome here however I back the management team of which have a provent track record.
GLTA long on the stock.
PRL Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
