News Today. Point Loma Resources PLV. Released an announcement...

News Today.

Point Loma Resources PLV. Released an announcement last night. Their first since 2nd of December.
They basically say they have started testing and expect to take 3 to 4 weeks to establish an oil flow rate.
They also talk about issuing ‘warrants’ and raising money.

We should get an announcement before market or sometime today but we won’t be getting flow rates. We are set for a longish wait I guess.
We Have had better info than the Canadians, they haven’t been told directly that they have oil. Only indirectly as they are going to flowtest. The announcement mentioned that The fracking had been completed successfully.

PLV shares were 20 cents, down one cent with a high turnover of 364,000 shares.

I presume Canadians are selling because they have almost no idea what is going on. The hold up with the blockage from the coiled tubing hasn’t been mentioned, as far as I can tell.

Let’s see what happens.

Saltbus