Art Everything is going as planned for PBG. Columbia may take them longer than planned to find more oil but everything in Canada is pointed UP!!!
Their ability to develop a unique way to extract more oil from the Bakken play is a terrific example of their expertise and ingenuity. Double production in one year! Wow!
The White Sands experiment appears to be going better than planned with the Capri upgrading test coming this fall. They are also going to apply for the bigger 10,000bpd test this fall. They are working to reduce the sand problem and will use the improved equipment on the next new test wells.
As more news comes out on the other Tar Sands startups, I can't help but think that THAI will become one of the standard ways to extract tar sands and heavy oil. The steam approach uses too much water and ngas and contributes to greenhouse gases. THAI is greener, takes way less capex, recovers magnitudes more oil from the reservoir and should become a bonanza for Petrobank over time.
This is a stock that you could be holding 10 years from now at many multiples of today's prices. Or they could get taken out by a multi national. They are a great combination of rapidly increasing conventional production and huge upside from a process that could become an industry standard worldwide and help recover billions of barrels of oil that is sitting in heavy oil fields right now.
Am I enthusiastic? YES! Can I see the future? NO!
Things could change but this has all the appearances of a big, long term BUY AND MOLDER! It ain't cheap compared to many microcaps but today's price could look ridiculously cheap in a few years.
Bobwins
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