Bakken Energy Corp. (BKEN)

[DragonBear]

do you know what happen to Green River Refinery in Utah

if ORFG had finally acquired it?

Presumably it has been sitting idle as it has been since the mid 1990s. One sure doesn't see the Chinese Masters announcing the deal has been closed.

I can't find the Green River Refinery in the internet. Any knowledge about it.

The Chinese Masters are claiming they are going to buy a refinery worth $16M. Where they are using an old appraised value, which assumed there would be major upgrades to the refinery - which never happened. The prior owners couldn't get the permits. Then one of the owners died at 86, and up it went for auction. The last known value was an auction bid of $135K years ago.

The bait will be the Chinese Masters (born again oil experts) stumbled across this $16M property just sitting there, unknown to every oil company in the Unita basin for decades. Now if you were the owner of this property, you would want the appraised value of $16M- correct? How will the Chinese Masters pay for the refinery? As usual, issue microcap stock. At the current PPS of 0071, it would take a mere 2.25B shares. If you owned property worth $16M would you accept 2.25B ORFG restricted shares (1 yr) in trade? Or would ya sort of want at least a large chunk in cash?

Part 2 of the bait will be the idea the Chinese Masters scooped up the property on the cheap, for say $135K. None of the other large oil companies already in the Unita could afford to match the bid, and/or knew it was really worth $16M. Not even the owner knew it! LOL Note a $135K value could be paid for with 19M shares. Looks a lot better on paper than 2.25B shares.

All stockholders will have to do (assuming the LOI ever closes) will be to multiply the shares * PPS on the date it closed, and see if the value which pops out is $16M or $135K.