Replies to post #8102 on Petron Energy II Inc (fka PEII)

[TESLA777]

NAZ, this has been a very difficult company for me to figure out, I got into it because of the secondary recovery process itself intrigued me, and the sheer fact that there are thousands of leases that could probably use that process around the country.

It is a real company, with real leases/properties, and is a "operator", which is really important to me as far as an otc oil company goes, the companies performance so far has been terrible though IMHO.

They've completely wiped out their shareholders at this point, and they've yet to prove even on 1 lease that this secondary recovery process works.

TX has been shut down since April, if you look at the production in TX from Jan - Apr 2013, its somewhere around 350 Barrels or so, which tells me that those leases are pretty drawn down also (pressure wise) and that they need to implement that secondary recovery process there also.

I think the only chance at this point is the company do exactly what they said today, focus on not more than 2 leases, and get them going as quickly as possible to prove that this secondary recovery stuff works and they can pull oil out of the ground with it.

Time is of the essence now, as Ive stated, no excuses, they need to get something done, they need to prove they can do what they've been saying they can do.

AS far as the debt situation, I honestly cant see these debt conversions stopping anytime soon, the last time I tried to figure out where the company was at financially, I estimated they were doing somewhere in the 10-20 BOPD range, as FS has already stated, they need 100 BOPD break even. How much time do they need to get to that 100 BOPD point 1-2-3 months (best case senerio) I dont know, but they need to continue to use convertible financing until they can get to that point...

Worse case, If they cant get anything done, its fair to expect about a 50% decrease in PPS every single month until we see .0001 probably 3 months from now or so.

Best case, they get BAKKEN deal done in the next 2 weeks, and we get some news about the CO2 flooding/pressurization also in the next few weeks in those 2 leases, so the turn around point happens 2-4 weeks from now....ALL IMHO...