Just announced a $25 million financing. Was in a pretty strong financial position before this. Had expected them to exit 2012 with a net debt of about $30 million on a credit facility of about $50 million. Raising equity at this point allows them to accelerate their program. He is particularly excited about their Cardium position at Lockend. They’ve exceeded their type curve wells (?) and there is some additional upside down the road from a new Dunvegan oil play. Good potential from here.
TriOil Resources is a OTC stock, trading under the symbol TOL-X on the (). It is usually referred to as or TOL-X
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In the last year, there was no coverage of TriOil Resources published on Stockchase.
On , TriOil Resources (TOL-X) stock closed at a price of $.
Being acquired at $2.86, effective November. Doesn’t expect there will be a better offer so he would recommend Selling at this point.