Petron Energy II Inc (fka PEII)

[Feedthemonster]

BINGO!

Depends on the avg cost of those 8B shares since the majority have been diluted at or below .002. Regardless...there is well in excess of $10,000,000 and may very well be $20M...for what?

I am sure if and when the SEC takes a closer look they will but curious where those dollars went over the past 6-8mo. that, it appears, only have 1-2 leases close to pumping oil. I do not believe they have spent anywhere near $10M in getting Snider/Simons and TX operational.

What he SHOULD do with all the excess cash (assuming it isn't part of FS new lake home or Corvette) is buyback 7.9B shares and use the rest to do what should have been done 6mo. ago...which is get results from Snider/Simon & TX to fund future conversions.

PERIOD