Blatant stock promoter lies $PCWT edition

Anyone who is not a complete idiot knows that stock promoters make a habit of being misleading and they frequently lie blatantly as well. This lie from Awesomepennystocks.com on PCWT is among the more hilarious, however. Here is the quote from today’s promotional email (emphasis mine):

Walter Dale, who heads strategic water solutions for Halliburton, said water is the oldest and newest problem in the oil field and one that’s only going to get worse. He said, “the Bakken oil play (a huge potential source of oil) will demand 10 billion gallons of fresh water per year for fracking, while oil companies spend $8 per barrel to buy the water…That demand for water will continue for another 20 years, adding up to trillions of gallons of water, enough to create an overland flood in the oil patch if it all were collected on the surface.”

PCWT just recently saved almost 60M. gallons of water for one of their partner (Bolthouse Farms). If an oil giant was to buy that water it would be worth over $540M. USD

Clearly, the Company’s technology could soon save hundreds of millons for large oil companies making PCWT a very attractive technology.

Now here is the original quote from Dale (emphasis mine):

Walter Dale, who heads strategic water solutions for Halliburton, said water is the oldest and newest problem in the oil field and one that’s only going to get worse.

He said the Bakken oil play will demand 10 billion gallons of fresh water per year for fracking, while oil companies spend $8 per barrel to buy the water, have it trucked to and from the well, plus a disposal fee after it’s flowed back after fracking.

What a big difference a little ellipsis makes!

 

Disclaimer: I have no position in any stock mentioned. I have no relationship with any parties mentioned above. This blog has a terms of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.

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