Replies to post #2725 on Petron Energy II Inc (fka PEII)

[7kidsmom]

I happy for this gas report before the oil report It will get us started from a much better level . If you thought it claimed quickly today.., just wait for oil news

[jackg152004]

I think what people are forgetting here is that the CEO stated in several PRs that the next tranche of their financing is based on showing "significant improvements" in production after the re-works.

Per the 6/24 PR....

If the company's overall daily production rate from these wells improves significantly, the company anticipates that it will receive a tranche of funding from TCA for potentially up to $1 million dollars. This tranche size would provide the company with sufficient capital to rework an additional 20 - 35 existing wells and, if rework and completion operations on these wells are successful, may improve Petron II's daily production rate significantly. Under the TCA Agreement, the company will not qualify to receive a second tranche of funding until it has at least 6 weeks of production reports to determine the level of daily production improvements from the 6 reworked wells.

I would say a 50% improvement production will be viewed as significant.