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What's cooking with the kiwis on this one.
Good opportunity get in low / average down on this?
Saw a banner ad on ihub for CAK, visit the homepage not on the app and should see it. Promos are good if their claims are true, and are no dilutive.
Good sized orders this morning.
The Castle Harlan group can be grouped into the very smart money squad.
Not to say they have any interest now, they do invest in a similar business that may complement this one.
While I used to think I wanted to see smart money arrive, it's important that it arrives at the right time in the growth cycle. These types of investors are the types that can put everything in their favor, kind of like a rookie entrepreneur walking into the Shark Tank.
What I'm trying to say is I don't want any more dilution yet the growth, and additional management acumen would be welcome when the time comes.
What's going on here
This should get exciting within next couple weeks.
Hoping for a strategic bidding war.
The company is cloaked and the share price is daggered.
What's going on here?
Some buyers arriving
Nice rally. I'll watch and try to get in on next one.
Quaterra Resources Inc. Announces that Freeport-McMoran Nevada LLC Signs Agreement With Quaterra to Earn Interest in Singatse...
Quaterra Resources Inc. Announces that Freeport-McMoran Nevada LLC Signs Agreement With Quaterra to Earn Interest in Singatse Peak Services LLC, Holder of Yerington Project
Freeport has option to earn up to a 75% interest in Singatse Peak Services for US$138.6 million in spending
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 16, 2014) - Quaterra Resources Inc. ("Quaterra" or the "Company")(TSX-VENTURE:QTA)(OTCQX:QTRRF) and its subsidiaries Quaterra Alaska Inc. ("Quaterra Alaska") and Singatse Peak Services LLC ("SPS") have signed a membership interest option agreement with Freeport-McMoRan Nevada LLC which sets out terms for due diligence and for SPS's exploration of its Yerington Copper Project in Nevada (the "Yerington Project"). Freeport-McMoRan Nevada LLC ("Freeport") is a wholly owned subsidiary of Freeport Minerals Corporation, which in turn is a wholly owned subsidiary of Freeport-McMoRan Copper & Gold Inc. ("FCX").
Under the agreement, after conducting additional due diligence about SPS over the next year, Freeport has the right to earn an initial 55% interest in SPS by providing funds to SPS to complete three staged investigation and work programs totaling US$38,600,000 in project funding. During these stages, Freeport provides funding to SPS for property maintenance, G&A, environmental compliance and, in later stages, exploration. Freeport can earn a further 20% interest in SPS (increasing its holding to 75%) should it elect to fund SPS with a further US$100,000,000 of spending, or complete a feasibility study, whichever comes first.
Quaterra President and CEO Steven Dischler says, "The agreement with Freeport provides Quaterra with the ability of retaining, at no cost to it, a 25% interest in what is potentially a large and attractive district-scale copper asset."
Agreement Details
Within the first 12-month stage of the agreement, Freeport must provide SPS US$2,500,000 for land, water and mineral rights title acquisitions and maintenance costs; G&A; and compliance with environmental laws. Freeport can terminate the agreement within the first stage of the agreement at its discretion, with the US$2,500,000 being a firm commitment. Freeport can extend stage one of the agreement for up to a further 12 months upon payment of US$1,250,000 for each six month extension.
In order for the second stage of the agreement to commence, Freeport must commit to fund US$6,100,000 over the ensuing post-stage one 12 month period for property maintenance costs; G&A; environmental compliance; and exploration of the property. During the 24 month third stage of the agreement Freeport may fund up to US$30,000,000 for exploration of the property; property maintenance costs; G&A; and environmental compliance. If Freeport completes the stage three funding it will have invested approximately US$40,000,000 in the Yerington Project and will have earned the right to own a 55% interest in SPS.
If Freeport chooses to proceed beyond Stage 3, it can elect to fund a further US$100,000,000, or fund the costs of completion of a feasibility study, to earn an additional 20% interest for a total 75% interest in SPS. Alternatively, Freeport can choose to fund with Quaterra, proportional to their 55% and 45% working interests.
At any time when the parties are proportionally funding their share of costs, and before an affirmative decision to begin production, a non-funding party will suffer ordinary dilution. Should either party's interest fall below 10%, it will be converted into a 1% NSR royalty. After a production decision, a non-funding party will dilute to a 1% NSR royalty.
"We believe this is a very significant opportunity for Quaterra," says Dr. Thomas Patton, Chairman of Quaterra. "The agreement provides Quaterra's shareholders with the funding to advance a major copper district."
The Yerington Project consists of the Yerington pit and surrounding areas, MacArthur oxide and sulfide deposits, water rights and other district prospects, all of which have the potential to be transformed into a large-scale, long-life copper mining operation. It is situated in a mining-friendly district with excellent infrastructure and valuable water rights.
Conference Call
Quaterra will host a conference call on Tuesday, June 17, 2014 at 1:30 pm Pacific Time (4:30 pm Eastern Time) to discuss today's release of the membership interest option agreement between Freeport and the Company, Quaterra Alaska and SPS for exploration and development of the Yerington Project.
The Company will also answer questions at the end of the formal portion of the call. For toll free dial-in from Canada and U.S. please call 1-800-319-4610, from Vancouver call 604-638-5340 and from outside of Canada and the U.S. call 1-604-638-5340. Callers should dial in five to 10 minutes prior to the scheduled start time and simply ask to join the call.
About Quaterra Resources Inc.
Quaterra Resources Inc. (TSX-VENTURE:QTA)(OTCQX:QTRRF) is a junior exploration and development company with a successful track record of making significant mineral discoveries in North America. The Company's primary objective is the advancement of its flagship projects in the Yerington copper district, Nevada.
Looking good here. I wonder if silver is going to rocket. Most the silver miners have what appears to be a 3-4 cycle of boom and bust.
How high does this go?
The more bidders, the larger jackpot for shareholders.
Looks interesting.
Kase bought another 88k shares.
All the fundamentals look pristine.
On top of the fundamentals the oil services sector should stay hot for some time.
Currently trading mkt cap at approx one times sales. The company is profitable growing year over over year. Run rate over $100 million going forward.
Miners did well today.
A hint of hope?
You guys most excited about Utah or what?
What's the next big opportunity here.
Nice share structure and low float at the moment. Some of the smart institutional money has already found this one, may be a good sign.I need to understand midstream economics better to know what I think is a good plan.
The board of directors looks real strong, had a surprise yet very familiar name, Bush. We've got Bush..
Neil's involvement and existence is news to me. Success breeds success. Heads of state, direct relatives, generals, ambassadors, etc, I tend to interpret as advantageous on bods of any sector, for they have pull..
I remember seeing Jonathan Bush on fast money tv program years ago pumping his new medical software,CRM -Athena Health. While I thought he seemed like quirky yet cool individual I had no idea he had it in him to build a multi-billion dollar company.
Anyone speak to the company lately?
Value-digger makes some strong points for owning Caza, I don't think I've every seen so many comments on an SA article for this sized company. He definitely has some followers, he's now talking up LNREF. Going to also add to radar.
Moving right along
Time to breakout of three year channel?
Slow and steady.. steady eddie
"don't call it comeback"
How long until we find a bottom on this one?
Patience is a virtue in this game.
I am a buyer here.
Interesting development here. The price hasn't been disclosed yet appears they've gained control of close to twice the acreage along with some human capital.Looks like finding the right production sharing peeps is the next step. Any take on this?....
Petro River Acquires Spyglass Energy Group LLC., 100% of Its Production, & the 106,000 Contiguous Acres of the West Pearsonia.
Petro River Oil Corp ("Petro River" or the "Company") (OTCPK:PTRC) announces that, on May 30, 2014 it acquired a control position in Bandolier Energy LLC. ("Bandolier"), a company formed to acquire, in an all-cash transaction, all of the outstanding membership units of Spyglass Energy Group LLC., the owner of a 100% working interest in the Pearsonia West Concession ("Pearsonia") in Osage County, Oklahoma. Pearsonia comprises the largest contiguous oil and gas acreage position in Northeastern Oklahoma, approximately 106,000 acres, with substantial original oil in place, stacked reservoirs, as well as exploratory and development opportunities that can be accessed through both horizontal and vertical drilling. Significant infrastructure is already in place including 32 square miles of 3D seismic, 3 phase power, a dedicated sub-station as well as multiple oil producing horizontal wells. Offset producers include large independents who have drilled multiple economic horizontal Mississippi Lime wells.
Daniel Smith, Executive Vice President of Operations, commented, "We are pleased to have completed the next step in our strategic plan following the investment by Petrol Lake Holding LLC. In completing this acquisition, we are closer to achieving our goal of joint venture development in the Mississippi Lime. We look forward to commencing our development plan in Pearsonia, and continuing to apply our diverse technical expertise in conjunction with our joint venture partners in this region."
The management of Bandolier brings a depth of both geoscience and engineering expertise that will be instrumental in exploiting the Pearsonia asset. The chief geoscientists, Shane Matson, President of Bandolier, and Charles Wickstrom, board member of Bandolier, have considerable knowledge and experience in the Mississippian Lime play in Oklahoma. They have pioneered methods of drilling the Middle Mississippian tight oil reservoirs that have resulted in a recent IP of 900 BOPD (barrels of oil per day) from 1,000 feet of lateral in the heart of Pearsonia. Based on these results, management is expecting that EUR's (expected ultimate recovery) will be similar to offset producers west of Pearsonia, but may be more economic due to the shallow reservoir characteristics. The team has identified several hundred potential drilling locations with a primary focus on horizontal Mississippi Lime exploitation and development, although potential also exists in shallower Mississippian and Pennsylvanian formations.
Shane Matson, President of Bandolier, commented, "I have worked in this region and on the Pearsonia West asset for a dozen years and following our recent drilling results – wells with IPs as high as 900 BOPD from short laterals - we have cracked a significant component of the code for stimulation of tight Mississippian reservoirs of the Mid-Continent. The size and continuity of this asset allows a great deal of flexibility to continue developing it while seeking industry partners to develop this acreage alongside us."
Petro River & Bandolier are in various phases of negotiations to develop parts of Pearsonia via joint ventures with industry partners to accelerate their drilling and development program. There can be no assurance that any such ventures will be entered into.
Very sharp CEO.
He has some big plans and is forthright in his answers. Good find.
Thanks.
Helped me recall that was the stock that rocketed a couple years ago, that was used as a comparission to convince myself to buy into Superior.
And the SIOR investor that guesses which stock he is talking about gets a gold star for the day?
My guess is Petroriver but that is all I got. Whatever it is I hope we zoom past them right out the gates like California Chrome when this trades again.
Good good.
Trying to handle this obsession of micro-cap oil plays with balance.
Still need to get in this one. Gaines name came up briefly in a book I'm reading called the "Frackers"
Plan to get in the ocean this weekend!!
How's the mt bike?
Moffett is nutty for the Gulf...
Apache To Sell US Gulf Assets For $1.4B
Thursday, May 08, 2014
Apache says it will sell properties in the Gulf of Mexico for $1.4B as it focuses on its more lucrative shale fields in North America.
http://www.rigzone.com/news/oil_gas/a/132985/Apache_To_Sell_US_Gulf_Assets_For_14B
Interesting purchase by DVN..
Would SIORs area demand more??
Devon Buys 50,000 shale acres for $249 million cash
Thursday, May 08, 2014
Devon Energy says it acquired 50,000 acres and some production in the Cana-Woodford Shale in Oklahoma for $249 million in cash from Cimarex.
http://www.rigzone.com/news/oil_gas/a/132949/Devon_Buys_50000_shale_acres_for_249_million_cash