Sorry for the delay on this. RL job needed to take my focus this wkd. Going to give you all a quick summary of my latest findings. I'll do my best to get the full details up here Monday. Here are the highlights:
Overview: I had two conversations Thursday/Friday. One with Casey Forward (ORFG Acct) and another phone conversation with Michael Naumu. Both were VERY encouraging and illuminating. I am HAPPY.
First and foremost was with Casey. A couple of our fellow iHubers mentioned they had reached out to him.... And yes, I can confirm what was posted here is true. The ticker/name change is nearly finished. We could hear a confirmation from the company as early as next week. Casey also mentioned another little tidbit to me.... The DIVIDEND payout paperwork is also in the works and could submitted for process as soon as FRIDAY. This is a BIG DEAL guys.. Many have questioned the legitimacy of this company because of these two holes.
IMO once the Ticker/Name/Divi are processed we'll see a HUGE swell in investor confidence. Look out for ORFG when this happens. ALOT of eyes are waiting on this before taking starter positions. IMO this all happens in the next week or two. And I'll ABSOLUTELY update you all if anything changes, I'll follow up later this wk.
Secondly is with Michael. Overall I was very pleased the conversation. He seemed well put together and my "Bull Shit Meter" wasn't bouncing around. I walked away with comfort that Nations is absolutely 100% NOT a scam as a couple new faces on this forum have suggested... Wish I could have pried the next PR from him, but here are a couple key take-aways none-the-less:
1) Oil Refinery: Company is absolutely still moving forward with this acquisition. Since it wasn't necessarily clear in the PR, he did reveal that this is a Nation's deal, not ORFG corporate. I was happy to hear that he was pretty enthusiastic about this.. He talked about how this is a KEY acquisition in the overall business plan (to become a fully integrated energy company).
2) Nations Land Holdings: Had a discussion about this. I asked why PRs always referenced Nations having land holdings in the Utina Basin - and why we haven't seen any details yet. To sum it up YES Nation's does own the lease holdings to this land already. Secondly, the reason why we haven't had valuations yet (I didn't understand a lot of the science he described behind this... so to summarize) comes down to the supply of petroleum engineers and complexity... With the American oil movement these petroleum engineers are in REALLY high demand and hard to pin down. Beyond that, you have to actually drill into the ground to see what is down there (if I recall Michael called this exploration drilling... and for land as big as ours, that's a lot of VERY deep holes). He said complete valuations take an average of 3 to 5 months.... fortunately we're on the VERY tail-end of that time frame ;) I expect we'll be hearing about this shortly :)
3) ORFG Corporate Transparency: I pressed him on this towards the end of our conversation. He actually seemed a bit frustrated which was comforting... Since Nations Oil & Gas is a wholly owned subsidiary of Bakken, he doesn't have the ability to release PRs on behalf of the mothership. Sounded to me like there is a lot ready to be announced/released behind the scenes. This is entirely speculation, but that's what I took away from his tone/word choice. I also believe that with this new CEO, he won't have to be communicating with the corporate office in China... IMO we're going to see things start to move QUICK in terms of PRs.
Michael also reassured me that 1) Everything mentioned in all PR's the company is absolutely moving forward with (or already has). 2) He has personally requested that ORFG corporate open up a line of communication with shareholders. He's confident ORFG is making arrangements to provide an easier form of contact (e-mail, American phone number, etc) so we can directly communicate with the company rather than wait on pins-and-needles for a PR.
I have some more stuff I'd like to share with you all, but I am pretty pressed for time so I'll leave you with that FOR NOW :) Key take-aways:
1) It appears to me that a number of great PR's will be coming our way over the next 10 trading days
2) Name, ticker, and divi is right around the corner...
3) Michael is a straight shooter and appears to have some news up his sleeves. My guess is once Bakken gets that paperwork processed, we're off to the races with all sorts of acquisition, valuations, etc PRs. He's sharp, knowledgeable, and motivated.
4) Can't speak for you guys, but I'm 100% confident with what I own here, especially after these conversations. I think there is a lot of great stuff coming our way for both the long AND short term investors.
5) Company, up to now, has done things on their own schedule. With this new CEO, I expect more news, faster PRs, and more transparency.
As many of you are aware - I try to stay away from PPS predictions and pumping. Never once threw out there the whole "NEXT WEEK" or ".20 - .30 BY MONTHS END" so hopefully you guys take that into consideration....
I honestly believe we'll be testing 52 week highs in the next two-three weeks.
I'll be selling other stocks to add to my ORFG position tomorrow and throughout the week.
