Powder River Petroleum International Inc (fka PWDR)

[bobomarketblaster]

Well, it certainly is an unusual business model, and it looks like a very successful one so far: properties obtained and wells reworked for nothing except a small percentage of the downstream profits. In your description, you said "acquiring neglected properties, tuning them up and spinning them off." I think it's more accurate to say 'acquiring neglected properties after a survey, spinning off a part of the future profits, then tuning them up." This takes time, and looks to the casual observer like the cart is before the horse: all this money coming in before the wells are producing. In this kind of model, reworking the wells successfully is absolutely essential. Fortunately Brian Fox seems to have a nose for viable wells.

One question: the outfits doing the survey work are the ones getting paid off in shares. Is that correct? Isn't that a possible conflict of interest?