Venezuela’s government has announced a plan to release a cryptocurrency backed by 5.3 billion barrels of oil worth $267 billion. According to reporting by CNBC, “President Nicolas Maduro surprised many earlier this month when he announced the “petro” cryptocurrency, to be backed by OPEC member Venezuela’s oil, gas, gold and diamond reserves.” Industry insiders are skeptical …
Mexico made a huge deal with Trafigura to become a crude oil trading partner. It is now the first foreign company to get the right to market Mexican Crude oil. Before only the commercial division of state energy major Pemex was eligible for trading the country’s oil and gas. Now oil traders will compete …
While no one gets destroyed in this story, the prevaling tale is the same. The smaller prevails over the larger. It is in oil rich California where this saga is unfolding. California is the nation’s third-largest oil producer behind Texas and North Dakota, according to the federal government. The majority of the supply comes from …
An oil exploration article Monday in Forbes.com states, “If not approaching its twilight years, global exploration potential is sporting tell-tale signs of middle age”. Don’t tell that to oil exploration company Pero River Oil (PTRC) (STOCK PRICE) Coming off two discoveries last month in Osage County, OK and possibly a third this month, Petro now sets …
Momentum is described in the dictionary, “as the amount of motion occurring in something that is moving, or the force that drives something forward to keep it moving”. Momentum seems to be what Petro River Oil (PTRC) is experiencing now. They have announced a third well to be drilled in as many weeks with success …
Phil Flynn at TalkMarkets.com has written about Petro River Oil, focusing on the company’s use of modern technology to identify structures in historical oil fields that have produced several million barrels of oil without the benefit of 3-D seismic imaging. The Third Dimension In Oil Production By Phil Flynn There is much talk about the …
New York based Petro River Oil (OTC: PTRC) announced today that the Company will begin drilling a discovery well in Osage County, OK this week, based on 3-D seismic results that show a potential for a significant discovery. “This is a significant milestone for the company,” said Stephen Brunner, president of Petro River. “We are now …
In an era of shale, Petro River Oil (PTRC) is going old-school. The shale revolution has been the driving force behind America’s resurgence as a leading oil producer. However, given the costly nature of shale projects, Petro River has shunned them. Instead, the New York-based company targets conventional oil that can turn a profit no …
By Mitchell Posner For years, InterOil (NYSE: IOC) wasn’t taken seriously as an E&P company. The business press used words like “fluky.” It’s now a mainstream LNG producer, and has provided a considerable return for its shareholders. Last week, the company announced that Oil Search will acquire InterOil, exchanging 8.05 shares for each share of …
PETRO RIVER OIL CORP 3PTRC Description This is a small, illiquid international exploration upstream E&P company. It is also a deep value investment with asymmetric upside potential and a company with proportionately lots of cash to deploy into a depressed market in a counter cyclical strategy. Its worth touching on some of my past failed …