BLACK PEARL

"""BlackPearl received final regulatory approval to proceed with the Blackrod pilot in early November 2010. The company plans to commence steam injection by the end of the first quarter, with initial results to follow later in the year. Total project cost is pegged at about $25 million. Festival says that Blackrod, along with the junior’s other two core projects, is expected to bring a 15 per cent rate of return on capital at a WTI oil price of US$60.
"It's our best property in terms of ultimate size," he says. "But it will take a few years and a lot of money.""""

Kan detta vara en"sales pitch" ?

Och så knäpper han Shell på näsan -- just ifall någon stor investerare skulle undra om BlackPearl verkligen har rätt om reserverna är värda ett högt pris.

Vidare citeras November-intervjun:

""""Next year we plan to apply for a 40,000-barrel-per-day commercial project there," said Festival in late November. "We would build it in phases, with the first phase being 10,000 barrels per day. That phase would cost us $300 million. We think we'll be able to accelerate after that with larger phases. Seven to 10 years from now we'll be producing 50,000 barrels per day there.""""

Och direkt efter detta:

"""He says that the company anticipates no major problems in raising funding. "There are a lot of shareholders who made a lot of money from our previous company. It's a simple relationship. We take their money and invest it and it turns into more money.""""

Jag hör: "We do not need money now. We have been offered money, but we do not need it."

Några dagar senare var den mycket speciella riktade nyemissionen ett faktum.