Value Microcaps Junior Energy

[Jimski]

PEC.v/pnrxf This article appears to show that Porto is getting ready to produce 8000 BOE from Aljubarrota-3 very soon, yet I can find no news release from Porto talking about it. This certainly sounds material to me and would require the company to release something public . It would also value the company far higher than 0.22 CAD . What am I missing here?

Concession contract: Oil production set to become a reality

Mohave Oil & Gas company submitted the plan after successful test drilling in the Aljubarrota-3 concession near the central Portuguese town of Alcobaça. Mohave believes the Alcobaça well will provide for the production of around eight thousands barrels of oil per day when fully operational.
Business Economy What's New — 03 September 2012 by Lusa News
http://www.portugaldailyview.com/whats-new/concession-contract-oil-production-set-to-become-a-reality">;

The hydrocarbon development plan now approved by the authorities means Portugal is to produce oil for the first time ever, announced Economy and Employment Minister Álvaro Santos Pereira on Monday.
The plan was submitted by the Mohave Oil & Gas company following successful test drilling in the Aljubarrota-3 concession near the central Portuguese town of Alcobaça.
The minister was in the town to witness the signing of the concession contract between Mohave Oil & Gas Corporation and the Portuguese energy producer Galp Energia, which acquired a 50% stake in the projects for around €3.3m.
Mohave has already invested €127m in Portugal and believes the Alcobaça well will provide for the production of around eight thousands barrels of oil per day when fully operational.
Minister Pereira said the deal meant around €230m in guaranteed future investment, 200 direct jobs and hundreds more in indirect employment.
Meanwhile, throughout the next fifty days, Mohave will be proceeding with further test drilling in the same region to check the viability of natural gas deposits in the region.


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