Petrofrontier, Ölaktie mit Potential !
Seite 1 von 2 Neuester Beitrag: 25.04.21 02:22 | ||||
| Eröffnet am: | 20.01.12 16:38 | von: Base | Anzahl Beiträge: | 36 |
| Neuester Beitrag: | 25.04.21 02:22 | von: Janinajgtca | Leser gesamt: | 11.624 |
| Forum: | Hot-Stocks | Leser heute: | 4 | |
| Bewertet mit: |  | |||
| Seite: < | 2 > | ||||
Petrofrontier verfügt in Australien über vier gewaltige Ölschieferprojekte.
Ölressourcen von 27,5 Milliarden Barrel.
Es hängt viel von den ersten Bohrungen ab die am Ende der Regensaison im März
wieder starten sollen.
Wenn hier ein Volltreffer gelandet wird dann gehts ab.
Langfrisitg sind Kurse von minimum 5€ drinne.
Optionen
| Boardmail an "Base" |
Wertpapier: Petrofrontier |
Bohrprogramm Phase 2 (2012) wird dann richtig intressant. Öl & Gas gewinnbringend förderbar???
Zwischen Phase 1 & 2 ein JV Partner? und wenn ja, wer???
Wetter: Spielt das Wetter (Regen) wieder verrückt und es kommt wieder zu Verzögerungen oder kann PFC mal zuarbeiten?
Ein paar Gedanken :)
http://www.petrofrontier.com/en/news/...ID=m9ecsgj0jbpuq9v251bm4ihks7
PETROFRONTIER CORP. CONFIRMSRIG MOBILIZATION TO SOUTHERN GEORGINA BASIN, AUSTRALIA
Calgary, Alberta – May 30, 2012 (TSX-V: PFC) - PetroFrontier Corp. (“PetroFrontier”) is
very pleased to announce that Ensign’s Rig 918 is currently mobilizing to the MacIntyre-2
well site location in the northeastern corner of EP 127 in the Southern Georgina Basin,
Northern Territory. It is expected that the Ensign drilling equipment will be onsite by early June 2012 and that the Southern Georgina Basin operational activities will resume during the week of June 4, 2012.
This first phase of the 2012 capital program will focus on the drilling of the horizontal leg at MacIntyre-2, which is expected to take approximately two weeks. Once the drilling is
completed, PetroFrontier will have earned a 75% working interest and operatorship in EP
127.
After drilling MacIntyre-2H, the Ensign rig will re-locate approximately 300 km to the eastern border of EP 104 to drill a high angle pilot hole at the third location, Owen-3 in EP 104 (100% working interest) and if PetroFrontier considers conditions to be favorable, a subsequent horizontal section at that same location. Mobilization of Ensign Rig 918 to the Owen -3 well site is anticipated to take one week, with the expected drilling timeline for the vertical and horizontal sections at Owen-3H being approximately four weeks.
Subsequent to this drilling activity, the second phase of the 2012 capital program will
commence with the mobilization of a coil tubing unit and service rig for the completion,
fracturing and flow testing of Baldwin-2Hst1 (EP 103), MacIntyre-2H (EP 127) and Owen-3H (EP 104), in that order. Both the Baldwin-2Hst1 and the MacIntyre-2 wells encountered very encouraging hydrocarbon responses while they were being drilled in the latter part of 2011.
This type of unconventional oil play requires the use of advanced horizontal drilling and
completion techniques to be economic, and the use of proven North American technologies is expected to give PetroFrontier a good chance of establishing commercial production.
http://www.theglobeandmail.com/globe-investor/...e=cnw&slug=C9785
Monday, June 18, 2012
CALGARY, June 18, 2012 /CNW/ - (TSX-V: PFC) - PetroFrontier Corp. ("PetroFrontier") is pleased to announce that its wholly-owned subsidiary, PetroFrontier (Australia) Pty Ltd. has completed the earning of a 50% working interest in EP 127 and EP 128 (Northern Territory, Australia) pursuant to its previously announced farm-in agreement with Baraka Energy & Resources Limited (formerly Baraka Petroleum Limited). This earning will increase PetroFrontier's working interest in EP 127 and EP 128 to 75% from 25% in 7.9 million gross undeveloped exploratory acres (5.9 million net).
PetroFrontier is currently drilling the farm-in well (MacIntyre-2H) on EP 127, which has now exceeded a horizontal length of 501 metres, the minimum farm-in commitment. PetroFrontier intends to continue drilling to a total horizontal length of approximately 1,000 metres.
Unless a material event occurs in the interim, PetroFrontier expects to issue its next drilling update report once MacIntyre-2H has finished drilling and the completion assembly has been set. The rig will then mobilize to the Owen-3 well site.
About PetroFrontier Corp.
PetroFrontier is an international oil and gas company engaged in the exploration, acquisition and development of both conventional and unconventional onshore petroleum assets in Australia's Southern Georgina Basin. PetroFrontier's common shares are listed on the TSX Venture Exchange under the symbol "PFC". Founded in 2009, PetroFrontier is one of the first companies to undertake onshore exploration in the Southern Georgina Basin in Australia's Northern Territory. PetroFrontier's head office is in Calgary, Alberta and its operations office is in Adelaide, South Australia.
Forward-Looking Statements
http://www.theglobeandmail.com/globe-investor/...g=201206200799921001
PetroFrontier Corp. ("PetroFrontier") (TSX VENTURE:PFC) is pleased to announce that through its two wholly-owned subsidiaries (PetroFrontier (Australia) Pty Ltd and Texalta (Australia) Pty Ltd), it has entered into a binding farm-in agreement (the "Farm-in Agreement") with Statoil Australia Oil and Gas AS ("Statoil"), a wholly-owned subsidiary of Statoil ASA of Norway whereby Statoil will farm into PetroFrontier's four exploration permits and two exploration permit applications in the Southern Georgina Basin, Northern Territory, Australia. The Farm-in Agreement is subject to satisfaction of certain conditions precedent, including the approval of the Foreign Investment Review Board of Australia (the "FIRB").
Pursuant to the terms of the Farm-in Agreement, Statoil will have the option to earn up to 65% of PetroFrontier's working interests in EP 103, EP 104, EP 127 and EP 128 ("EPs") and in EPA 213 and EPA 252 ("EPAs") in exchange for exploration program related payments and carried costs of up to US$210.0 million over three phases.
In addition, PetroFrontier has entered into a bought deal financing (see "Bought Deal Financing" below) with Macquarie Capital Markets Canada Ltd. to raise gross proceeds of C$15.0 million. The net proceeds of the offering combined with its current working capital are expected to fully satisfy PetroFrontier's Phase 1 contribution of US$25.0 million pursuant to the Farm-in Agreement. Statoil will also contribute US$25.0 million to Phase 1. Should Statoil elect to proceed with the Phase 2 joint exploration program, PetroFrontier will receive a cash payment of US$25.0 million (equal to its Phase 1 contribution) from Statoil and will be required to contribute US$20.0 million towards the Phase 2 exploration program.
"We are very excited to announce this farm-in agreement whereby up to US$230.0 million will be spent on our unconventional properties, of which Statoil will contribute up to US$210.0 million. Statoil is a highly regarded international exploration company, actively involved in major unconventional plays and brings exceptional financial resources and technical capabilities to our new relationship" said Paul Bennett, President and CEO of PetroFrontier. "We believe that partnering with a global leader like Statoil validates the potential of our assets and the exploration work we have completed to date."
"These exploration activities are in line with our objective to access shale plays at an early stage, at low cost and to develop them into potentially high value assets. We are looking forward to exploring them together with PetroFrontier, a small but highly competent company" said Atle Rettedal, Statoil's Senior Vice President for New Ventures.
The Farm-in Agreement represents the successful conclusion of the joint venture search process announced by PetroFrontier on January 16, 2012 for which Macquarie Capital Markets Canada Ltd. has acted as PetroFrontier's exclusive advisor.
Terms of the Farm-in Agreement
Under the terms of the Farm-in Agreement, Statoil will participate with PetroFrontier in the exploration of the EPs and EPAs as follows:
Phase 1 (2012 & 2013)
Phase 1 consists of a joint exploration program of US$50.0 million (with each of Statoil and PetroFrontier contributing US$25.0 million).
Depending on the results from the current drilling and fracturing program, the parties will agree on further drilling locations and seismic, in part to ensure that the work commitments for the respective EPs are kept current.
PetroFrontier will be the operator during Phase 1.
At the end of Phase 1, Statoil will have the option to acquire 25% of PetroFrontier's working interest by reimbursing PetroFrontier for its US$25.0 million Phase 1 contribution and by committing to proceed with Phase 2.
Phase 2 (2014 & 2015)
The parties will conduct a further joint exploration program of US$100 million (with Statoil contributing US$80 million and PetroFrontier contributing US$20 million).
Statoil has the option of becoming the operator during Phase 2.
Once Statoil has contributed its US$80 million towards the Phase 2 program, it shall have earned an additional 25% of PetroFrontier's working interest in all of the EPs and EPAs and will have the option to commit to proceed with Phase 3.
Phase 3 (2016)
The parties will conduct a further joint exploration program of US$80 million with Statoil contributing all US$80 million and PetroFrontier contributing nil.
Statoil shall be the operator during Phase 3.
Once Statoil has contributed its US$80 million towards the Phase 3 program, it shall have earned an additional 15% of PetroFrontier's working interest in all of the EPs and EPAs.
At the end of Phase 3, Statoil will have completed its earning in the EPs and EPAs and will share future costs with PetroFrontier based on their respective ownership percentages.
Bought Deal Financing
PetroFrontier has entered into an agreement, on a bought deal basis, with Macquarie Capital Markets Canada Ltd. (the "Underwriter") for an offering (the "Offering") of 15,000,000 subscription receipts at a price of $1.00 per subscription receipt for gross proceeds of $15,000,000. PetroFrontier will grant the Underwriter an option (the "Over-allotment Option") to purchase an additional 2,250,000 subscription receipts exercisable at the offering price for a period of 30 days from the closing date for additional gross proceeds of approximately $2,250,000. The Underwriter will be paid a commission equal to 6% of the gross proceeds from the sale of the subscription receipts, including the Over-allotment Option, and will be reimbursed for their expenses.
Each subscription receipt will entitle the holder the right to receive one PetroFrontier common share upon the satisfaction of certain conditions including, but not limited to, the receipt of all necessary regulatory and government approvals including the approval of the TSX Venture Exchange and the satisfaction of the conditions precedent in the Farm-in Agreement, including approval by the FIRB.
The gross proceeds from the sale of these subscription receipts will be held in escrow pending satisfaction of the conditions precedent in the Farm-in Agreement. In the event such conditions are not satisfied prior to 5:00 p.m. (Calgary time) on October 10, 2012 (the "Termination Time"), or if the Farm-In Agreement is terminated prior to such time, the holders of the subscription receipts will be entitled to receive an amount equal to the full subscription price thereof plus their pro rata share of the interest earned on such amount. Purchasers may exercise their right to convert the subscription receipts into common shares prior to the satisfaction of conditions precedent in the Farm-in Agreement or the Termination Time, as applicable, provided that in such event the purchaser shall have no right to the return of their subscription proceeds or any accrued interest thereon, which proceeds and any interest thereon shall be provided to the Company.
The subscription receipts will be issued pursuant to a short form prospectus to be filed by PetroFrontier in all provinces in Canada (except Quebec) and will also be offered for sale internationally pursuant to applicable registration or prospectus exemptions as permitted. Closing of the Offering is expected to occur on or about July 17, 2012, subject to the satisfaction of certain customary conditions, including approval of the TSX Venture Exchange.
About Statoil ASA
Statoil is an international technology-oriented energy company focused on upstream oil and gas operations and currently produces 1.85 million barrels of oil equivalent per day. Statoil has high ambitions for international growth and is present in more than 41 countries around the world. Statoil's shares are listed on both the Oslo Bors ("STL") and the New York Stock Exchange ("STO") with a market capitalization of approximately US$75 billion. Statoil is approximately 70% owned by the Norwegian government.
About PetroFrontier Corp.
PetroFrontier is an international oil and gas company engaged in the exploration, acquisition and development of both conventional and unconventional onshore petroleum assets in Australia's Southern Georgina Basin. PetroFrontier's common shares are listed on the TSX Venture Exchange under the symbol "PFC". Founded in 2009, PetroFrontier is one of the first companies to undertake onshore exploration in the Southern Georgina Basin in Australia's Northern Territory. PetroFrontier's head office is based in Calgary, Alberta and operations office is in Adelaide, South Australia.
PP: na ja, gibts wieder mal Geschenke... knapp 20 Mio. Aktien mehr im Umlauf.
PetroFrontier has entered into an agreement, on a bought deal basis, with Macquarie Capital Markets Canada Ltd. (the "Underwriter") for an offering (the "Offering") of 15,000,000 subscription receipts at a price of $1.00 per subscription receipt for gross proceeds of $15,000,000. PetroFrontier will grant the Underwriter an option (the "Over-allotment Option") to purchase an additional 2,250,000 subscription receipts exercisable at the offering price for a period of 30 days from the closing date for additional gross proceeds of approximately $2,250,000. The Underwriter will be paid a commission equal to 6% of the gross proceeds from the sale of the subscription receipts, including the Over-allotment Option, and will be reimbursed for their expenses.
Depending on the results from the current drilling and fracturing program, the parties will agree on further drilling locations and seismic, in part to ensure that the work commitments for the respective EPs are kept current.
PetroFrontier will be the operator during Phase 1.
To me this seems like a no brainer!
Let me see if I have this right:
After PP we will have ~80M shares o/s @$1 for a $80M mkt cap
This gets us 35% of $230M in capex or ~$80M
So we basically get for free
1) 35% of the sunk costs or $37M
2) 100% financing
3) 100% of 2012 & 2013 earnings
4) 75% of 2014 & 2015 earnings
5) 50% of 2016 earnings
6) 35% on earnings thereafter on this tiny prospective recoverable oil resource of 27.5 billion barrels
Amazing!
http://www.stockhouse.com/Bullboards/...&r=0&s=PFC&t=LIST
It is the first time I see a company farm in with a junior for shale and doesn't want to finance the phase 1. This is very negative. The market doen't like that at all. I understand.
http://www.stockhouse.com/Bullboards/...&r=0&s=PFC&t=LIST
Wann will Petrofrontier denn erstmals Öl/Gas liefern??? Oder was bedeutet das hier? Denn dann kann der Kurs ja noch ewig im Keller bleiben...
- Phase 1 (2012 & 2013)
-- Phase 1 consists of a joint exploration program of US$50.0 million
(with each of Statoil and PetroFrontier contributing US$25.0
million). -- Depending on the results from the current drilling and fracturing
program, the parties will agree on further drilling locations and
seismic, in part to ensure that the work commitments for the
respective EPs are kept current. -- PetroFrontier will be the operator during Phase 1. -- At the end of Phase 1,
Statoil will have the option to acquire 25%
of PetroFrontier's working interest by reimbursing PetroFrontier for
its US$25.0 million Phase 1 contribution and by committing to
proceed with Phase 2.
-- Phase 2 (2014 & 2015)
-- The parties will conduct a further joint exploration program of
US$100 million (with Statoil contributing US$80 million and
PetroFrontier contributing US$20 million). -- Statoil has the option of becoming the operator during Phase 2. -- Once Statoil has contributed its US$80 million towards the Phase 2
program, it shall have earned an additional 25% of PetroFrontier's
working interest in all of the EPs and EPAs and will have the option
to commit to proceed with Phase 3.
-- Phase 3 (2016)
-- The parties will conduct a further joint exploration program of
US$80 million with Statoil contributing all US$80 million and
PetroFrontier contributing nil. -- Statoil shall be the operator during Phase 3. -- Once Statoil has contributed its US$80 million towards the Phase 3
program, it shall have earned an additional 15% of PetroFrontier's
working interest in all of the EPs and EPAs.
![http://www.fotos-hochladen.net][img]http://...2on3ids.gif[/img][/url]](http://www.fotos-hochladen.net][img]http://img5.fotos-hochladen.net/uploads/screenhunter02hqx2on3ids.gif[/img][/url]){kind=link}
zusammen eine Infrastruktur auf. Letztendlich zeigt ja das Investment von Statoil, dass die Assets schon interessant sind. Die Zeitachse ist trotzdem sehr sehr lange...ich dachte immer,die würden dieses Jahr mal was fördern...
bevor sie Baldwin-2Hst1 (EP 103), MacIntyre-2H & (Owen-3) fracen können & müssen sie noch Owen-3 bohren. (Im Zusammenhang Bewilligung). Hier geht noch viel Zeit ins Land bis wir wissen ob die Geschichte wirtschaftlich ist.
http://www.theglobeandmail.com/globe-investor/...e=cnw&slug=C3912
Monday, June 25, 2012
CALGARY, June 25, 2012 /CNW/ - (TSX-V: PFC) - PetroFrontier Corp. ("PetroFrontier") is pleased to announce that it has successfully completed the drilling of its second horizontal well ("MacIntyre-2H") in the Southern Georgina Basin, Northern Territory, Australia. MacIntyre-2H is located in the northeastern part of EP 127, approximately 60 km from the Baldwin-2Hst1 well, which PetroFrontier successfully drilled in late 2011.
MacIntyre-2H reached a total measured depth of 1,916 metres and stayed within the primary target zone, the Lower Arthur Creek "Hot Shale" Formation, for approximately 1,080 metres, recording positive hydrocarbon indications along the entire length of the horizontal section. A multistage open-hole completion string will now be placed in the well before the drilling rig moves on to drill PetroFrontier's third horizontal well, Owen-3. Thereafter, a fracture stimulation program is expected to be carried out at each of Baldwin-2Hst1, MacIntyre-2H and Owen-3H.
Although the drilling results from MacIntyre-2H are encouraging, this well remains a high-risk exploration venture. Readers are cautioned that no reserves have been proven by this well.
Update - Statoil Farm-in
Pursuant to the recently announced joint venture /Farm-In Agreement with Statoil Australia Oil & Gas AS, a wholly owned subsidiary of Statoil ASA of Norway ("Statoil"), Statoil and PetroFrontier will each contribute US$25.0 million to PetroFrontier's current 2012 - 2013 Phase 1 exploration program. PetroFrontier is being credited with exploration expenditures already incurred in 2012. Upon completion of Phase 1, Statoil may elect to commit to Phase 2 or withdraw completely whereupon Statoil will have earned no working interest in the lands.
Upon committing to Phase 2, Statoil must pay US$25.0 million to PetroFrontier and commit to spend 80% of the next US$100.0 million in the Phase 2 program. Only at that time, will Statoil have earned a 25% interest in PetroFrontier's acreage. In summary, to complete Phase 2, Statoil must spend US$50.0 million and commit to spend an additional US$80.0 million to earn an initial 25% interest in the lands.
During Phase 2, which is scheduled to occur during calendar years 2014 and 2015, PetroFrontier's US$20.0 million exploration contribution will be funded out of the US$25 million paid to it by Statoil. Furthermore, if Statoil elects to proceed with Phase 3 which is expected to occur during calendar 2016 and beyond, PetroFrontier will not be required to contribute any additional funds until Statoil has spent the next US$80.0 million. Since PetroFrontier's net exploration costs to the end of Phase 3 will only be US$20.0 million (during which time Statoil's commitment will be US$210.0 million), PetroFrontier will not require additional equity funding to meet its obligations under the Farm-In Agreement to the end of Phase 3.
Statoil's involvement validates PetroFrontier's understanding of the exploration potential of the Southern Georgina Basin and will allow PetroFrontier to more rapidly explore and develop its exceptionally large acreage position of over 14 million acres. Statoil brings exceptional technical capabilities, being currently heavily involved in North American unconventional resource plays, such as the Bakken, Marcellus and Eagle Ford.
"With success, the full value of this Farm-In Agreement will be captured and we are committed, in partnership with PetroFrontier, to realizing the potential of the Southern Georgina Basin. We look forward to the possibilities", said Vidar Skjaeveland, Statoil's Vice President, New Ventures.
About PetroFrontier Corp.
PetroFrontier is an international oil and gas company engaged in the exploration, acquisition and development of both conventional and unconventional onshore petroleum assets in Australia's Southern Georgina Basin. PetroFrontier's common shares are listed on the TSX Venture Exchange under the symbol "PFC". Founded in 2009, PetroFrontier is one of the first companies to undertake onshore exploration in the Southern Georgina Basin in Australia's Northern Territory. PetroFrontier's head office is in Calgary, Alberta and its operations office is in Adelaide, South Australia.
http://www.theglobeandmail.com/globe-investor/...e=cnw&slug=C6957
Monday, July 09, 2012
CALGARY, July 9, 2012 /CNW/ - (TSX-V: PFC) - PetroFrontier Corp. ("PetroFrontier") is pleased to announce the spudding of its third horizontal well, "Owen-3", in the Southern Georgina Basin, Northern Territory, Australia. Owen-3 is located in the eastern part of Exploration Permit ("EP") 104 where PetroFrontier currently holds a 100% operated working interest and is included in the recently announced joint venture area with Statoil Australia Oil and Gas AS ("Statoil"). Statoil is crediting PetroFrontier with exploration expenditures already incurred in 2012 and will contribute 50% of the costs associated with this project.
Owen-3 will test the unconventional potential of the primary target zone, the Lower Arthur Creek "Hot Shale", in the Toko Synclinal area. Owen-3 will be drilled as a high angle pilot hole to an estimated depth of 1,280 metres, through the Lower Arthur Creek "Hot Shale" Formation and into the Thorntonian carbonate Formation. PetroFrontier will core the Lower Arthur Creek "Hot Shale" Formation and then log the well. The core will provide valuable technical information to enhance PetroFrontier's understanding of the lithology of this formation, which will aid in optimizing the frac design and reservoir modeling. Owen-3 will be plugged back a short distance and then deviated horizontally for approximately 1,000 metres into the primary target zone. Drilling of Owen-3 is expected to take four to five weeks.
Fracture Stimulation Update
Following the drilling of Owen-3H, PetroFrontier intends to conduct a ten-stage fracture stimulation program at each of its three wells in the following order: MacIntyre-2H, Baldwin-2Hst1 and Owen-3H. In order to maximize operational efficiencies, the wells will then be flow tested in the reverse order. The Lower Arthur Creek "Hot Shale" Formation is an unconventional play requiring the use of advanced horizontal drilling and completion techniques in order to properly test for economic flow rates. PetroFrontier will provide market updates on the frac operations as results materialize and definitive results will be confirmed once PetroFrontier can flow test all of these wells, which is expected to occur over the next few months and prior to the onset of the local Australian wet season.
About PetroFrontier Corp.
PetroFrontier is an international oil and gas company engaged in the exploration, acquisition and development of both conventional and unconventional onshore petroleum assets in Australia's Southern Georgina Basin. Founded in 2009, PetroFrontier is one of the first companies to undertake onshore exploration in the Southern Georgina Basin in Australia's Northern Territory. PetroFrontier's head office is in Calgary, Alberta and its operations office is in Adelaide, South Australia. PetroFrontier's common shares are listed on the TSX Venture Exchange under the symbol "PFC".
http://www.theglobeandmail.com/globe-investor/...e=cnw&slug=C7540
CALGARY, July 11, 2012 /CNW/ - (TSX-V: PFC) - PetroFrontier Corp. ("PetroFrontier") announces that it has received a notice of termination from Macquarie Capital Markets Canada Inc. ("Macquarie") terminating its obligations pursuant to the Underwriting Agreement made effective June 20, 2012 (the "Underwriting Agreement"), whereby Macquarie had agreed to purchase on a bought deal basis 15,000,000 subscription receipts at a price of $1.00 per subscription receipt. The notice of termination received from Macquarie did not provide the reason for Macquarie terminating its obligations under the Underwriting Agreement. Management of PetroFrontier is of the view that Macquarie did not have a valid legal reason to terminate the Underwriting Agreement and PetroFrontier is currently reviewing it options in this regard.
Financial Update
Pursuant to the recently announced joint venture between Statoil Australia Oil and Gas AS ("Statoil") and PetroFrontier, each of the parties has already contributed US$15 million to fund the 2012 capital program. Management believes PetroFrontier has sufficient capital on hand to fund operations throughout 2012. However, additional capital will be required in order to fund 2013 operations including PetroFrontier's remaining commitment of US$10 million under the Phase I joint exploration program with Statoil. Management is currently considering alternative sources of financing to replace some or all of the funds that would have been raised pursuant to the Underwriting Agreement.
About PetroFrontier Corp.
PetroFrontier is an international oil and gas company engaged in the exploration, acquisition and development of both conventional and unconventional onshore petroleum assets in Australia's Southern Georgina Basin. Founded in 2009, PetroFrontier is one of the first companies to undertake onshore exploration in the Southern Georgina Basin in Australia's Northern Territory. PetroFrontier's head office is in Calgary, Alberta and its operations office is in Adelaide, South Australia. PetroFrontier's common shares are listed on the TSX Venture Exchange under the symbol "PFC".