It’s clearly a risky investment but the more I read the more I believe their chances of getting financing is actually achievable. See below
From Last MD&A(Page 5 of 15):
Bayshore has held discussions with several private E&P and mid-stream companies operating in Alberta and Saskatchewan regarding the implementation of Cold Catalytic Cracking (“CCC”) technology to partially upgrade produced medium to heavy crude oil to a lower viscosity, pipeline acceptable crude oil. On May 2, 2017, May 31, 2017, and September 11, 2017, Bayshore announced a financing of up to $1.5 million to fund these operations and replenish working capital. This financing has been delayed with the appointment of a new outside director. The announced financing will be sufficient to initiate the CCC partial upgrading operations, and if completed the Company anticipates revenue and cash flow from this activity to start shortly after closing. The Company envisions future progress by step to include CCC catalyst manufacturing, partial upgrading used by E&P and midstream operators, and ultimately full upgrading to ultra-low sulphur diesel, in due course.
Also they announced this yesterday
Bayshore Petroleum Corp. New Head Office Address
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
CALGARY, Alberta, Feb. 02, 2018 (GLOBE NEWSWIRE) -- Bayshore Petroleum Corp. (“Bayshore” or the “Company”) (TSX-V:BSH) announces it has moved its office to #340, 600 Crowfoot Crescent N.W., Calgary, Alberta, T3G 0B4. Phone and fax numbers remain the same.
On behalf of the Board of Directors
BAYSHORE PETROLEUM CORP.
Chairman and CEO
Why waste money on NR’s and bother moving into a new head office if financing is still ways away or far fetched from happening?
Just speculating but that’s all I can do at this point. I’ll add to my position in the coming weeks, imo worth a shot.