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I am finally optimistic here again. I think it has all been good news and just a matter of time. I am STILL WAITING...been years in the making on this one...hope it pays off the same as I was hoping two years ago!
Am I the only one concerned here? The trades that killed the momentum in the next two days after good news are here:
98,000 x .1730
42,500 x .18
113,100 x .17
92,200 x .161
Not a whole lot of shares in the big scheme of things but unusual. I bought at .185 on the day it went to .161 and prices stabilized. Not saying I helped bring order but whatever went through went through quickly. Seemed like someone got lucky with orders at much lower prices.
anyone here that lucky person?
All i can say is wow....either someone desperate to sell due to inside knowledge or big overreaction to declining oil prices....any info???
I'm guessing someone screwed up an order....definitely a market order went through for wrong price or right price inadverdently. Lucky those who snapped it up this cheap. Could be intentional to drive down the price and shake the tree.
No way this went down on desperation. Who here would sell at lower prices right now? I put in a bid for 20k at .185 and didn't execute...that tells me this is a trick...good luck.
Lots of churn today at higher prices. Good returns for those who bought for short-term @ .17-.18. Congrats. I think we get new speculators here soon and with clarification on the test well and production there now, we could really see a boost. I think we trade in the .20s until we hear something...same bargain hunters bidding as little as possible to get shares...no reason to rush I suppose.
yes, understood. i'm curious if anything has been paid to AOIL yet from this transaction. not a huge amount of money, but every little bit helps.
The new PR out from Armada Oil is A Game changer and at long last it is going to pay off this stock should be at Least 0.32 cents a share right now. The oil bearing potential of these formations are thick I have read the report 4 times this morning. The rest of the 10,000 acres may even be better. The first horizontal well going down in first quarter of 2015. I am a happy camper this morning. and most of us have bought this stock on the cheap. Congrats to all of you who stay aboard Armada over the years our day has come finally. I am still holding over 200,000 shares. Happy Armada Day to all aboard.IMO
My understanding is that the company will only earn $131,250 from the sale.
To: Terry Vickery
Managing Member
Energy Management Resources, LLC
445 Inion Blvd
Suite 101
Lakewood, CO 80228
RE: Offer to sell oil and gas leases, wells, production and equipment located in Young County Texas, sometimes referred as “M.V. Keller - 23 acres lease” field no. 07484 and “M.V. Keller -100 acres lease” field no. 07415
As further described in Exhibit A attached hereto and incorporated herein by reference (collectively, the "Subject Properties").
Mr. Vickery,
Armada Oil, Inc. et al, and/or related entities ("Seller") hereby offers to sell unto Energy Management resources, LLC., et al, ("Buyer") all of the right, title, and interest, including all real and personal property owned by ("Seller") in the property and respective interest shown on the attached Exhibit "A" for the sum of Ten Dollars ($10.00) and other valuable consideration (“Purchase Price”). Seller shall reserve a 17.5% overriding royalty interest until payout in the Subject Properties. For purposes of this agreement the term (“Payout”) shall mean that point in time when Seller shall has recovered from it’s overriding royalty interest an amount equal to One Hundred Thirty-one Thousand Two Hundred Fifty Dollars ($131,250.00).
The properties to be purchased shall include Seller's working and revenue interest plus all oil and gas, fee, mineral, royalty, and producing and associated non-producing leasehold estates; franchises, licenses, servitudes, easements, surface leases, rights-of-way, contracts and agreements affecting such estates; production facilities, salt water disposal systems, pipelines, gathering lines and any other personal properties or fixtures used in connection with the operation of such estates for oil and gas production. All of the foregoing shall hereinafter be referred to as the "Property".
http://www.sec.gov/Archives/edgar/data/1081074/000118518513002457/ex10-2.htm
Here is the last press release from the buyer.
http://www.otcmarkets.com/stock/NHPI/news/NHPI-Has-Completed-4-Work-Overs-on-Producing-Wells-on-the-Keller-Leases-in-the-Ft--Worth-Basin?id=77325&b=y
Results sound good so far for long time longs here
in AOIL
Let's hope for continued good results!
I think the details will come shortly. I see this as a huge success. One it establishes them as more than just a risky play now they have found real data and will be pumping out some oil they already have. May not be much but hopefully it gives them something to work with. They have significant data (according to release) that gives them an indication of multiple zones they can hit with high probability. That means they can branch out horizontally at different depths and extract.
It is costly, and maybe after we know how much is flowing and their financing plan going forward we can get a clue. I'm thinking the same people that funded the Gulfstar will likely throw some cash at this project for a share of the money.
Either case, Armada needs to fund through debt or equity and go at it alone fast to generate big returns...
i agree the news sounds encouraging. on another front, does anyone have details on the M.V. Keller leases Armada sold off in october of 2013, in youngs county, TX?
my understanding is a few wells are already producing there.
AOIL maintains a a 17.5% overriding royalty interest.
thanks!
biztech,
I'm not sure what to make of it yet. Personally I'll be waiting for the bpd from the Sundance to decide whether to buy shares or not.
I'm not sure what to make of the Niobrara opportunity. I'll have to get Randy explain what they were looking for from the Niobrara. My concern with the Niobrara is they will have to borrow very, very heavily to drill expensive horizontal wells - unless they find a partner that will pay the drilling costs for the lion's share of the revenue. Even if the oil is there Randy really has to execute on the banking side to make that work.
Today's PR was Positive-
I'm going to continue to hold as a result,and might even add-
futr
You guys happy about results? I am. They found oil in 40 feet. They can go from there and keep going from multiple zones horizontally....this is a win...but not sure how much. Oil companies especially small ones always cite the potential....I'll see it when I believe it but I think I will add about .10 cents a share in todays value on confidence alone...I see .30s approaching soon and if a plan on drilling again materializes and a new reserve report...easy over $1.
Sounds like germanium still has hope. Buy those shares cheap if you think its a win!
About anandarko...like other majors, they own leases/land and let the little guy take the risk. They can buy the little guy out if its a win.
I'm sure management wouldn't mind being bought out at $1/2 a share? Of course...if its a win...you will see that very quickly.
Greed will set in at that point. Plan for worse case scenario...lose and 50% drop in stock price.
Think this way Anadarko had their plate tied up in other drilling or they thought this property was a marginal risk in drilling so they farmed it out to Armada. However Armada and they geologist and the survey done on these 10,000 acres Armada decided to go it alone it looked so good. I thought they should get a partner for part of this drilling. The final report will tell that. Randy said 3 formations very promising has he already heard from the site geologist I don't know. They should find something of interest. IMO
Funny business from otcshortreport.com. Before I get the smarty pant know it all out here...I know its not all short volume but it isn't "us volume" If its not you or I it is stuff at the broker/dealer and market maker level. Tells me that not alot of shares to go around so really trying hard to keep liquidity here.
Date/VolShorted/High/Low/Close/ShortVol/RegularVol
Aug 28 74.77% NA NA NA 64,000 85,600
Aug 27 4.56% 0.19 0.17 0.19 2,900 63,549
Aug 26 13.61% 0.19 0.16 0.18 11,000 80,845
Aug 25 22.43% 0.19 0.18 0.18 10,000 44,593
Aug 22 0% 0.19 0.18 0.18 0 38,400
Aug 21 44.42% 0.21 0.19 0.19 16,900 38,050
Aug 20 56.76% 0.21 0.19 0.21 11,550 20,350
Aug 19 0% 0.21 0.19 0.20 0 3,500
Aug 18 42.87% 0.21 0.20 0.21 17,000 39,652
Aug 15 93.90% 0.21 0.18 0.20 20,000 21,300
Aug 14 2.11% 0.21 0.20 0.21 1,100 52,200
Aug 13 0% 0.21 0.19 0.19 0 3,600
Aug 12 22.81% 0.21 0.19 0.20 7,600 33,326
Aug 11 0% 0.21 0.18 0.20 0 40,100
Aug 08 46.43% 0.20 0.19 0.20 2,600 5,600
Aug 07 46.16% 0.20 0.18 0.20 10,900 23,615
Aug 06 0% 0.20 0.19 0.20 0 11,300
Aug 05 0% 0.19 0.17 0.19 0 1,800
Aug 04 0% 0.17 0.17 0.17 0 1,100
Aug 01 0% 0.20 0.19 0.20 0 600
Jul 31 0% 0.20 0.19 0.20 0 9,000
Jul 30 98.63% 0.20 0.19 0.20 28,900 29,300
Jul 29 1.38% 0.20 0.18 0.19 600 43,463
Something is up. Shakeout in progress but not sure why. If something negative is pending the market would reflect that now. i'm sure someone is in the know. People drilling, workers, etc...word gets out to family friends etc. You would see a move down or move up by now. I'm thinking someone is throwing their shares out their at a discount last two days to shake the tree. today 600 @.1508. There is no way that is demand. That's getting values to look bleak and worry folks. that 30,000 @ 1.8 was gobbled up fast and there is another 27,400 @ 19 which I think will sell for .18.
That tells me that no one knows anything yet. company and workers must be keeping a tight lid or not experienced enough about stocks...either way good for us shareholders. Keep it quiet and suprise us positvely!
Welcome back! Why do you think it is a dry hole? They don't need to drill the required depth to find oil. They can hit it at different levels. Even if the amount of BPOE is low, they can work from their to tap into another deposit. I'm sure anyone familiar with the area or near the project won't provide us any updates on here. I just have a feeling that something good can come out of this well. They need a home run and they wouldn't keep drilling at this point and spend any more money unless they have a good indication that this investment was worth it.
What's your take?
This company cannot drill a well without having trouble however this is still a dry hole in my opinion. One of these formations however could be oil bearing and have production If one formation is very promising why don't they back up hole and go ahead and drill a horizontal well and try to get a producer out of this hole. It is a waste of money to drill another hole starting from scratch and there could be a reason for that I don't know. I am now loading up on (PAL) I sold 80,000 shares at 0.21 AOIL which I Paid 0.171 for. had to lighten up still have plenty
I hope germanium123 is ok. Haven't seen one post. Normally, he chimes in. Please check in and tell us all is well.
Maybe i didnt make sense but thats what i meant that they may have hit something but still have to drill deeper to meet agreed upon depth....im hopeful
my understanding was the agreement was forcing a drill to greater depth, which would mean the opposite of what you're saying:
Somebody was getting cold feet Friday with 55,000 to sell. I bought another 20k at .20 Wed/Thur...
I'm thinking we get something good out of this considering they are willing to continue at this point. Why keep pushing through to meet agreement requirements if you know its dry...save money and move on to Kansas.
Hopeful again!
I think it may be neutral/good news. We found something but we can't dig to the required depth per the agreement and we are going to keep pushing to capture some production....my guess.
I have been feeling the same way...I sure do hope not. My position here is beyond idiotic. hit a gusher and make me wealthy.
i could be way off, but it sounds like AOIL has a dry hole here (thus far), know it, and are gently breaking that news to shareholders. they have a ways to go yet, and could still hit a home run, but would need to hit a pay zone quickly, and by that i mean commercial quantities. jmho. glta.
Armada Oil Announces Bear Creek #1 Drilling Update
I wonder what is meant by "drilling of the deeper part of the well has been challenging".
Dallas, TX, August 22, 2014: Armada Oil, Inc. (the “Company”)(OTCBB: AOIL), an oil and gas exploration and production company, today provided an update on the drilling the Bear Creek # 1 well in Carbon County, Wyoming.
The drilling of the Bear Creek #1 is ongoing. The depth required to comply with the provisions of the Anadarko Farmout agreement has turned out to be deeper than the pre-drilling geo-prognosis suggested and drilling of the deeper part of the well has been challenging. In addition, the drilling schedule was delayed a few days due to a coring tool being stuck in the hole, As a result, the schedule for completion of the drilling phase has slipped and will likely take another week to ten days. We will provide a comprehensive update when we are finished drilling and have the appropriate data.
“There are a lot of variables involved in drilling any well, especially a test well in a new area. Many of the pre-drilling assumptions have to be adjusted along the way. Information collected from drilling samples in the Niobrara and a couple of the conventional zones is very promising. We look forward to the completion of drilling so that we can assemble the analysis from the various disciplines and provide a comprehensive report to our shareholders.” said Randy M. Griffin, CEO of Armada Oil, Inc.
About Armada Oil, Inc.
Armada Oil, Inc. (OTCBB: AOIL), headquartered in Dallas, Texas, is a growth-oriented oil and gas Exploration and Production (E&P) company with a focus on growing reserves and net asset value per share, primarily through the acquisition, development and enhancement of multiple onshore oil and natural gas producing properties as well as the development of highly diversified developmental drilling opportunities, both conventional and unconventional. The Company currently has producing oil properties in Plaquemines and Lafourche Parishes in Louisiana and in Woodson County, Kansas. In addition, the Company has developmental properties in Wyoming County, NY and controls a strategic acreage position in southern Wyoming in the liquids-rich Niobrara Play.
More information about Armada Oil may be found at http://www.armadaoil.us.
In the filings previously they mentioned that the banks could call the loan due. Gulfstar had the option of paying off the debt and being the new debtholder since the assets they are buying would be affected. I wouldn't worry, this is material information and must be provided.
I think that the company is preparing for something good. I just hope, really hope that they don't hit a snag in this well. IF they don't, we will be fine. If we do hit a snag, the bank loan is the least of our worries....
good luck my friend, we've been waiting enough!
well, that report was definitely CRAP!!! Here I am looking forward to some drilling news and they drop that kind of bomb on us!!! Pray for a waiver approval AND a gusher. I am so tired of waiting for this company to POP or just drop...either way, just do something!
Me thinks they have a decent shot to hit a serious producing well and if that does...this PPS will be a gift.
Quarter loss would be less than .01, excluding one-time gain on sale of LA equity.
They have reduced expenses enough to be able to survive a failure in current project. I have enough information now to say their can be some optimism.
Expecting information on the existing drilling project. Thinking any day now. No news is bad news but the fact that they published results that don't say they are in the gutter gives me a little hope.
thanks, biztech.
Likely not. you will soon find out when they file their 10-q in a few days. Production should drop again due to the revenue financing they completed. AOIL owns about 66% less of LA revenues than they did a year ago. We will also see if production increases offset some of the losses---from recent information in the late filing report, no.
good luck.
hey, maverick -- i was noticing on AOIL's website they are reporting 240 bopd as current production. do you know if these numbers are still valid? thanks.
That's how it works if you hit a wildcat outfit you hit a grand slam- if that well pops the black they are drilling hits a solid 1000 a day gusher or anything close to that it will change the landscape around here in a hurry. I like the risk here and I am very comfortable in the N play with other outfits I'm vested with as well. I hope this works for you as well- if they are able to locate it I would imagine other wells will be put into play which could make this a real smart shrewd undervalued investment that's relatively under radars. The PPS is very attractive bc the risk IMO isn't anything out of the ordinary- but with amount of oil in a geo specific tight area looks promising- but you never know dry holes happen all the time. So I am very optimistic with Armada and it can happen to them just like anyone else. If they don't hit this one- I'll stick around I need a wildcatter in my port.
true, but with about 240 bopd from current production they've got some room to swing for the fences imo.
nothing ventured, nothing gained.
Hope it works out for us. I haven't been too lucky with wildcatting - and that is what this Niobrara well is. Big reward for a big risk.
:) I've been acquiring since last summer under .20
It's a little too late to worry about that detail. We are days away from knowing...
What was Randy's response when you asked him to drill a slant well?
News about commencement of drilling. Read news feeds above messages.
Germanium123,
Where do you disappear to? I hope all is well for you. I know you were adamant about the drilling program and Armada executing. Now is the time to see it through. We should know something in about 10 days. Success or failure...Success the stock is definitely going to start moving. Failure, bad data, equipment issues, stock gets cut in half.
Good luck all---alot of this is luck and some of it skill in how they drill the well. I'm hoping they had good data from a good source that gave them what they needed to work with.
What news?
fifteen days expected to drill well-
futr
In the next few weeks, we should know the outcome. I'm hearing we are on schedule and it may take a few weeks. The next quarter 10-Q is scheduled for mid week August so look for lots of good news or bad news in the near future. No point on selling out now due to fear...we've held this long...this is it.
I've heard similar things.
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Updated by moderator on January 5, 2015:
As a result of its asset reallocation strategy, Armada has sold its properties in Plaquemines and Lafourche Parishes in Louisiana and has acquired the first of what it expects to be several additional midcontinent properties. The company now owns developmental properties in Woodson County, Kansas and Wyoming County, NY. In addition Armada controls approximately 9,400 net mineral acres in the liquids-rich Niobrara Play in Carbon County, Wyoming by virtue of its farmout agreement with Anadarko Petroleum. An initial test well has been drilled in this acreage position and the company is making preparations to complete that well and to drill developmental wells in 2015.
There are a significant number of proved undeveloped (“PUD”) drilling locations in Kansas which the company expects to drill in 2015, and the Company is actively seeking additional producing properties to add to its portfolio.
Armada Oil, Inc.
5220 Spring Valley Rd
Suite 615
Dallas, TX 75254
Phone: 972-490-9595
Fax: 972-490-9161
E-mail: IR@armadaoil.us
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