High Plains Gas, Inc.(fka HPGS)

[I Need Help]

I have owned HPGS shares for many years. I lost interest until all the recent activity.

I note some posts complimenting the prior management for better shareholder communications. I am at a loss. Granted, many years ago there were ongoing communications, but when the company got into difficulties--SILENCE. All I saw were reverse splits, a declining share price, and little else. HPGS was little more than a black hole and a web site.

Well, at least now, there is some activity. And, the share price is showing signs of life.

I have just recently started to research HPGS again.

I like their web site (refer to link):

http://www.mcfenergy.biz/index.html

I have read recent news articles regarding potential acquisitions of bankrupt properties. It would seem this type acquisition fits in well with the company's proprietary technology. A win for HPGS, a win for owners of uneconomical wells fitting a common profile, and a win for the environment and States which may have to shoulder the costs of decommissioning these type wells. A WIN, WIN, WIN.

To fully grasp what I am saying, I recommend reading up on the company web site; then, read recent news articles describing the proposed acquisition.

My guess, instead of decommissioning wells, HPGS would be able to revitalize production. The acquisition wells are in the vicinity of HPGS infrastructure, and I think this is a big piece of the puzzle.

Headwinds include: 1) approval by the bankruptcy judge, 2) approval of the proposed HPGS plan (especially by EPA), and 3) financing. There may be others, too.

Regardless, HPGS now has a possible future. Potentially, a very promising future. It's early days, so high risk and high reward.

The assets being considered for acquisition seem to be nearly fully depreciated. Value looks to be pennies on the dollar. Of course; better than worthless, without a viable plan to put these assets to profitable use. Assets have value, but also have costs associated with upkeep and maintenance. To the current bankrupt owners, there is no viable plan forward. To HPGS, undervalued assets which can be put back to productive use.

I think the potential for this company is hugh--considering the proliferation of natural gas drilling. If successful, many companies will be seeking out HPGS patented technology.