Premium Energy Corp. (PPTL)

[Greg G]

Oops...premature posting...sounds like a Viagra commercial.

Lets address each of these possibilities as you have identified:

1) they are good and they want to keep it quite until they buy up more land - THEY HAVE PURCHASED SIGNIFICANT LAND LEASES AROUND THE FLOWING OIL DISCOVERY AFTER PERFORMING MILES OF SEISMIC ANALYSIS. THIS WAS DONE EVEN BEFORE DISCLOSING THE FLOWING OIL DISCOVERY. AT THIS POINT, I BELIEVE THEY HAVE ACQUIRED ALL OF THE LAND THEY NEED.

or 2) They are bad and they want to keep it quite until the can find a reasonable exit strategy - NOT LIKELY. WOULD THEY HAVE PURCHASED THE ADDITIONAL LEASES IF THERE WERE SIGNIFICANT DOUBTS ABOUT WHAT THEY HAD DISCOVERED?

or 3) They don't have enough backing to get the evaluator to work on them - MORE LIKELY, AS THEY HAVE TOLD US IN THEIR PRs THAT THEY ARE TRYING TO FUND THE PROJECT (NO FARMOUT). THIS MEANS THEY HAVE TO RASIE CAPITAL, HENCE THE REQUEST FOR INDEPENDENT REVIEW OF THE SEISMIC ANALYSIS.GOOD NEWS ON THE REVIEW SHOULD RESULT IN FUNDING OPTIONS FOR THE COMPANY.

I agree, there will be no flowing oil from the Boyne Lake discovery this year. And, there may never be any oil realized by PPTL as it is possible they could sell the leases to someone who has the means to exploit the properties as soon as the ground thaws. Or, it's possible they will raise the monies required to drill and pump. in this case, the oil could flow as early as next year.

Who really knows for sure? I sure hope Bruce has a better idea, but he has been very guarded about the progress being made.

Cheers!

Greg