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$PFNO: The Bond Bearer Penny Stock

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stockchick24   Sunday, 03/14/10 09:18:51 AM
Re: jotuk6771 post# 1605
Post # of 38483 
$PFNO: The Bond Bearer Penny Stock
March 12th, 2010 at 8:36 am Posted by The Dean
ParaFin Corporation (OTC: PFNO.PK) is a development stage oil and gas exploration company. $PFNO has executed a farmout agreement to acquire development rights of hydrocarbon concessions in Paraguay, consisting of 2,456,453 hectares (or 6,069,994 acres).

After being quite dormant on the news-front for some time, $PFNO announced the approval of a development program for their Farmout Concession in Paraguay on Wednesday.

In a January 1, 2010 report (found HERE) consulting geophysicist Byron Ayme suggests that this area has “a very high probability of approximately 2,000,000,000 (two billion) barrels of crude.” The Dean’s been around penny stocks for a long time and this might be one of largest exaggerations (or estimate, whatever you want to call it) he’s ever heard. However, even if $PFNO found 1% of this figure, they’d still be looking at more than $1 billion worth of oil.

Additionally, $PFNO has suggested that this region also has potential for substantial gas reserves—another reason for people to be excited.

Last night, $PFNO announced the company has more than $3.63 billion in assets, “represented by 2,400 Bearer Bonds issued June 16, 2000 dated for redemption on June 16, 2010.” Based on this press release, the 2,400 Euro Bearer Bonds were issued by “a major European bank…and have accumulated interest at 5.5% from the issuance date.”

Although it’s almost the weekend, and many students may want to take the day off from class, The Dean believes $PFNO has good potential for short-term gains. So do your homework for your chance to have some extra beer money this weekend.

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