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Re: mick post# 69

Sunday, 11/21/2010 7:15:27 PM

Sunday, November 21, 2010 7:15:27 PM

Post# of 78


Revenues are weak and but I don't have much information about their growth plans yet.

Oil and gas sales increased from $10,000 in the three months ended June 30,
2009, to $30,000 in the three months ended June 30, 2010, and from $26,000 in
the nine months ended June 30, 2009, to $81,000 in the nine months ended June
30, 2010, because of higher realized prices and higher quantities sold.
Interest income decreased from $18,000 in the three months ended June 30, 2009,
to $10,000 in the three months ended June 30, 2010, and from $64,000 in the nine
months ended June 30, 2009, to $34,000 in the nine months ended June 30, 2010,
because of lower interest rates and lower cash balances. At the current level of
cash balances and at current interest rates, the Company's revenue is unlikely
to exceed its expenses. Unless and until the Company invests a substantial
portion of its cash balances in interests in producing oil and gas wells or in
one or more other ventures that produce revenue and net income, the Company is
likely to experience net losses. With the exception of unanticipated RR&D,
unanticipated environmental expense, and possible changes in interest rates, the
Company is not aware of any other known trends or uncertainties that have had or
that the Company reasonably expects will have a material favorable or
unfavorable impact on net sales or revenues or income from continuing
operations.



The thing that mostly has my interested is the strong cash position and the low shares outstanding. Any kind of a PR plan and some new acquisitions or cash flows could do wonders here. JMHO.



This is not an offer to buy or sell securities or any kind of investment advice. Oil investment carries very high risks so consult a licensed professional making any decisions. My track record is real time @TurnKeyOil