Petron Energy II Inc (fka PEII)

[JackStraw]

as previously stated

Bakken was an LOI. They don't all work out by definition.

Investopedia explains 'Letter of Intent - LOI'

1. Letters of intent are used during the merger and acquisitions process to outlines a firm's plan to buy/take over another company. For example, the letter of intent will disclose the specific terms of the transaction (whether it is a cash or stock deal).

Plan Definition
dictionary.search.yahoo.com
n. noun
A scheme, program, or method worked out beforehand for the accomplishment of an objective.
a plan of attack.
A proposed or tentative project or course of action.
had no plans for the evening.
A systematic arrangement of elements or important parts; a configuration or outline

Definiton of INTENT
1in·tent noun \in-'tent\
: the thing that you plan to do or achieve : an aim or purpose

Full Definition of INTENT

1
a : the act or fact of intending : purpose; especially : the design or purpose to commit a wrongful or criminal act <admitted wounding him with intent>
b : the state of mind with which an act is done : volition
2
: a usually clearly formulated or planned intention : aim <the director's intent>

DO PLANS ALWAYS WORK OUT ?