Xun Energy, Inc. (fka XNRG)

[Carsmax177]

Can you elaborate where you see JV002 closed? On the company forum, the problems came with the proof of product while figuring out the shipping documents.

In fact, Jerry even stated on the forum in response to a question that JV002 was not closed on.

Quote:Thank you SPICEMAN for your post and questions in Post #3 above.

We have replicated your post below:

Jerry you said the Jet fuel was bought at $84/Barrel with a sales price of $111/Barrel.
That is a gross margin of $27/Barrel. If this deal would have been successful, what would have been Xun's share of the deal. Thanks Spiceman

Question #1: If this deal would have been successful, what would have been Xun's share of the deal.

Response #1: A Point of clarification, the Company or JV002 did not close on a purchase of Aviation Jet Fuel due to the supplier, Filkas Petroleum Resources And Trading Company (FILKAS), failing to deliver and perform per the executed Sales and Purchase Agreement (SPA2). If Filkas had delivered the 1,000,000 barrels of Aviation Jet Fuel to Rotterdam as per the Bill of Lading issued to JV002 and based on a selling price of US$111.00 per barrel that the Major agreed to pay (NWE Platts + premium of $2.00) for the first lift and the remaining SPA2 at NWE Platts +$2.00 on October 10, 2014 FOB Rotterdam, the Company would have had a transactional profit of US$8,624,000.

Conversely, if FILKAS did not breach SPA2, and 1,000,000 barrels of Aviation Jet Fuel was delivered by FILKAS and was sold yesterday, March 12, 2015, per SPA2, FOB Rotterdam, based on a selling price of US$74.00 per barrel (NWE Platts $72 + premium of $2.00), the Company would have had a transactional loss of US$7,500,000.

DISCLAIMER: THE PROFIT AND LOSS IN THE ABOVE EXAMPLES ARE FOR ILLUSTRATIVE PURPOSES HAD FILKAS DELIVERED THE FIRST 1,000,000 BARRELS OF AVIATION JET FUEL TO ROTTERDAM PER THE TERMS AND CONDITIONS OF SPA2, LINK: www.idriaenergy.com/files/101531206.pdf AND THAT FILKAS CONTINUED TO FULFIL THE DELIVERY SCHEDULE PER SPA2. THE PROFIT AND LOSS CALCULATED IN THE ABOVE EXAMPLES APPLY ONLY TO THE TERMS AND CONDITIONS OF SPA2 AND THE MARKET CONDITIONS ON THE DATES USED IN THE EXAMPLE. THE PROFIT AND LOSSES ARE NON-INDICATIVE OF PROFIT AND LOSSES THAT MAY OR MAY NOT OCCUR SHOULD THE COMPANY BE SUCCESSFUL IN CLOSING ON AN AVIATION JET FUEL PHYSICAL COMMODITY TRADE.

DISCLAIMER: SUBJECT TO SAFE HARBOR CLAUSE.

We thank you for your interest, support and faith in the Company.

Respectfully,

Xun Energy, Inc.
Jerry G. Mikolajczyk
President and CEO

Safe Harbor

The statements contained in this post may not be historical fact, are forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995), within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The forward-looking statements contained herein are based on current expectations that involve a number of risks and uncertainties. These statements can be identified by the use of forward-looking terminology such as “believes,” “expects,” “may,” “will,” “should,” "projects" or “anticipates,” or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. The Company wishes to caution the reader that its forward-looking statements that are historical facts are only predictions. No assurances can be given that the future results indicated, whether expressed or implied, will be achieved. While sometimes presented with numerical specificity, these projections and other forward-looking statements are based upon a variety of assumptions relating to the business of the Company, which, although considered reasonable by the Company, may not be realized. Because of the number and range of assumptions underlying the Company’s forward-looking statements, many of which are subject to significant uncertainties and contingencies that are beyond the reasonable control of the Company, some of the assumptions inevitably will not materialize, and unanticipated events and circumstances may occur subsequent to the date of this report. These forward-looking statements are based on current expectations and the Company assumes no obligation to update this information. Therefore, the actual experience of the Company and the results achieved during the period covered by any particular forward-looking statements may differ substantially from those projected. Consequently, the inclusion of forward-looking statements should not be regarded as a representation by the Company or any other person that these estimates and projections will be realized. The Company’s actual results may vary materially. There can be no assurance that any of these expectations will be realized or that any of the forward-looking statements contained herein will prove to be accurate. There is no guarantee that the Company will close on the financing or close on the acquisition of the producing oil and gas leases.