Typically, jrs have little or no income. Yet--they do it right, and they're where you make the most money. I play for multiples, I believe in knowing the players, I look for ones who do things like this:
"
PanTerra Gets 25% Carry at WhiteHill Lakes, Sask.
Tuesday October 3, 9:30 am ET
PAN - TSXV
CALGARY, Oct. 3 /CNW/ - PanTerra Resource Corp. (the "Company") is pleased to announce that with its partner Stealth Ventures Ltd. it has entered into an agreement with Mooncor Energy at the Company's WhiteHill Lakes property (PAN 50%) near North Battleford, Saskatchewan. Mooncor paid an up front fee which reimbursed the Company and its partner for more than 100% of their land and development costs. Mooncor will pay 100% of the cost to drill, case and complete 5 potential shallow gas wells (which will also include coring and shale gas analyses). Mooncor will then earn a 50% working interest, (PAN net 25% WI with no dollars invested). The WhiteHill Lakes property is in close proximity to wells drilled in the 1950's that have indications of by-passed gas pay in the Cretaceous section. PanTerra will act as operator in the project.
The TSX Venture Exchange has not reviewed nor accepts responsibility for
the adequacy or accuracy of the contents of this news release.
For further information
Fred P. Rumak P.Geol., President and C.E.O., at (403) 261-5900, Email to: fred@panterraresource.com"
There is no downside with this little 'side play'---not only is it done at no cost to pan/slv (both of which I own) they will gain at the very least geo knowledge, plus as operator, pan is entitled to make a profit---
One could argue--'but they're out half the play'---that's o.k.--they got 1mm acres left of their main play--and to me, 1/4 of 5 at no cost beats half/pay half---at this point in their developement---
AI
