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Humm, a little trickle up on the price.
Dare I say, it just might be a smart move or will bugsie think I'm back pumping you guys? LOL
DDDD - ©Wait and Win™
You're crazy.
Like a fox.
You guys are going to think I'm crazy
but I am looking to double up by the end of Jan. Cudney keeps buying like the energizer bunny and my gut tells me the float is quietly being soaked up. I believe this is how GGR got pushed so hard on the news and the companies silence could be an indicator of an impending push given the market is aware of the 25 drill locations, two of which were just filed recently with no fan fare. Once drill funding is secured we should start to climb.
Anyone speak to Kevin? He doesn't care to take or return my calls after all these years. Oh well good luck to him anyway!:)
STL
It appears to me that this co. is now on life support. When will they pull the plug?
Kevin, Aspen is a Super Turd! You don't return calls anymore and no one has taken over your spot, what gives?
Teddy check out NSOL / FFI sub is due for very large bond review completion from the state of New Jersey due any day now. If they come through this little company could become a monster IMO.
50 million gallons of ethanol production per year from 1 plant and the feed stock is trash. Spot market is $2.00+ a gallon and the government is kickin in .51 subsidy. No holes to drill, no rigs to obtain, no speculation once the plant is on line.
Just a heads up, not promoting or recommending to buy, do your own D&D.
Aspen commences production and updates operations in Manitoba
Calgary, Alberta November 2, 2005 Aspen Group Resources Corporation (TSX: ASR) (“Aspen” or the “Company”) announced that it has successfully completed the initial drilling program in the Daly Field in Manitoba. The Company drilled three horizontal wells, each encountering four potential productive zones in the Lodgepole and Bakken formations. At this time construction and tie-in of the temporary surface gathering facilities for the two productive wells (the 16-10 and the (2) 16-10), consisting of two production tanks per well, have been completed as scheduled. Following construction of the temporary surface facilities, the wells were put into production using tubing pumps at a nominal cumulative rate of approximately 80-100 barrels of oil per day (bopd) and monitored to determine optimum pump size. Aspen’s engineers are currently working to properly size the pumps to handle the high water volumes that are typical in the Daly field and increase production rates to a higher stabilized output level. During the monitoring process, production from the wells is being sold at Cromer referenced pricing (September 2005 price of Cnd.$75.05/bbl).
“We are pleased with the results to date in Manitoba,” stated Robert Calentine, CEO of Aspen. “The Daly Field acreage offers Aspen a very compelling development opportunity. Utilizing horizontal drilling, we can explore up to four prospective zones from each surface location. Combined with the economic incentives Manitoba provides, the multiple drilling targets will provide Aspen the ability to grow its reserves and production through an efficient, concentrated drilling program.”
Aspen owns a 50 percent working interest in the Manitoba leases through its Joint Venture Agreement (the “Joint Venture”) with Westchester Resources Inc. (TSXV: WSR). Aspen is the operator. The Joint Venture currently holds the rights to 7 leases totaling approximately 2200 acres in the Daly Field. Consulting geologists estimate that the leases contain approximately 25 additional drill locations. Each surface location has the potential to accommodate up to four horizontal wells. The Joint Venture is consulting with Trimble Engineering Associates Ltd. to prepare a resource report estimating the productive potential of the wells, and a drilling program in order to further develop the acreage. In addition to the new production from the Daly Field, Aspen has net production of approximately 280 barrels of oil equivalents per day from its other properties in Western Canada.
A summary of each well is provided below.
16-10 Well
The 16-10 well (located on the 16-10-009-28W1M surface lease of well location 12-10) was drilled to measured depth of approximately 1600 meters. The horizontal portion was drilled in the Middle Daly zone of the Lodgepole formation. The well was swab tested over a four-hour period at a rate of 332 bopd and is expected to produce at a stabilized rate in excess of 100 bopd of 33 degree API medium crude.
10-30 Well
The 10-30 well, (located on the 10-30–009–28W1M surface lease of well location 15-30) was drilled to measured depth of approximately 1220 meters. The horizontal portion was drilled in the Middle Daly zone of the Lodgepole formation. During the drilling of the horizontal leg, the well encountered a fracture in the formation at approximately 995 meters. The fracture has caused higher than expected water inflow in the well during initial clean up. The well was shut-in for a period of 24 days and a second attempt to swab and test the well was undertaken. The well continued to produce predominately water and was shut-in. The Company is currently evaluating several options, including re-entering the well and drilling a second leg in the same zone or in one of the other three zones encountered in the vertical portion of the well bore.
(2) 16-10 Well
The (2) 16-10 well (located on the16-10-9-28W1M surface lease of well location 14-11) features two horizontal legs drilled from a single vertical well. The first leg was drilled to measured depth of approximately 1684 meters. The second leg was then drilled to a measured depth of 1617 meters. Both legs were drilled in the Lodgepole formation. The additional leg is expected to provide more efficient drainage of the reservoir. The well was swab tested from the lateral junction of the first and second leg over a four-hour period at a rate of 184 bopd and is expected to produce at a stabilized rate of approximately 100 bopd of 33 degree API medium crude
Aspen Group Resources Corporation is an independent oil and natural gas producer engaged in the acquisition, exploration, production and development of oil and natural gas properties in North America. Aspen's shares trade on The Toronto Stock Exchange under the symbol "ASR".
-30-
Aspen Group Resources Corporation
Ali Mahdavi or Kevin O’Connor
(877) 775-8734
info@aspengroupresources.com
www.aspengroupresources.com
Looks like it will be a while before I..........
DDDD - Due Diligence Deliberations Done
©Wait and Win™
Oh we do Teddy, if he ever sticks head above water in the public markets he'll have plenty of folks looking to short his BS. I might have a bit of fun with it too.
Because of him my Rule Breaker #1 is never buy stock in a company headed by a lying leach attorney. Thanks for that Jack!
Regards
I think the company would like to just walk away from Wheeler and not hope for any restitution and stop the legal bleeding. I just hope that everyone remembers Wheeler in case he trys to get back in the marketplace.He has cost the company enough already, let the girls take care of him.
Teddy do you think we'll see resolution
with Wheeler soon? Have to wonder if we get some assets back. That would be a nice suprise to the market.
Calentine picked up 1 million at .36 and Mercer exercised
500,000 at .31
Isn't that interesting?
They need to hire me again (I did Investor Relations work for Cotton Valley---don't remind me),tap into my US broker database and get their story out among US energy investors; they are spending bucks right now.
For as intelligent and skilled this management team is supposed to be, they sure have no clue about the Public Relation issues for this company. I thought Kevin was on top of the PR responsibilities for both companies but he also seems to be out to lunch. They had interest, support and a following which they have squandered away. They are close to permanently losing all interest in their endeavors unless they get on the ball. If they don't know it, they need shareholders and interest in the stock for them to be effective in their growth model. I feel confident they have positive results to report and timing is everything but enough is enough. If they are skilled business managers, let’s see some of that business acumen.
Teddy did Kevin give you that info? TIA
For now I agree, but that could change. However, please tell me when. LOL
DDDD - Due Diligence Deliberations Done
©Wait and Win™
or Dwindle Down Dwindle Down
Not me. I'm not going anyhere. I've been busy with other things. However, I'm still going to...
DDDD - Due Diligence Deliberations Done
©Wait and Win™
Hopefully we will hear something next week . Info is long overdue from the company in light of what their PR rep indicated a while back that news would be more readily released and on a timely basis.
Wow-its been a month now,no news on the other wells,no TEDDY whats going on,does anyone know??????????
What's the word Teddy?
You guys are pretty upbeat for a stock that has virtually no movement,but i hope your right.Theres not much to say until something for real happens,I have been around a long time but no need to post when nothing is going on.Everyone is on the sidelines,watching and hoping(for years),but we are here,we just dont post(especially when nothing is going on)..GOOD LUCK..
I'd bet we could count them on both hands.
A friend said his broker recommended it before the last run up which I found very strange. A broker advising to buy a pink sheet is very odd.
By the lack of communications on this site , it appears that all of the prior owners have abandoned the ship. Is that correct?
I was told that there will be several advisory services suggesting a BUY for the company.
Teddy, looks like she wants to run or just bouncing?
The following is a comment that appearded in another chat room that I agree with.
Why on earth would anyone want to sell out at this point when...
1. We are about to go into production with our FIRST wells in Manitoba
2. We are at one of the lowest points regarding share price
3. We have the potential to go X5 on share price in the not too distant future and further after that ...can you say that about GAS.
4. You did not offend me I just find it strange you suddenly decide to post at this point in time so close to production being achieved.
5. I would be amongst the first to admit that the PR of the company is intolerable. If you read previous posts of mine you will see that
6. Rob Cudney and Northfield Capital own some 7.5 million shares in this company do you really think they will write that off ? not in a million years .Lets wait and see what happens in the next few weeks and who gets the biggest bang
6. Success rate in Manitoba is a confirmed 67% with two wells out of three producing over 600 barrels per day between them on swab test(likely drop to 400 in production and we still await results on third well which if dry still gives 67%success if good gives 100%
7. Potential for another 23 targets in same area, which as we speak will be getting assessed and a drill program formulated .
So why the heck should I consider selling now, good for you with your investment in GAS I`m always glad to see people prosper on the markets as we here will surely do in time
If I misjudged you I apologise. However methinks you do protest too much
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Thats your call. I feel better about my investment in this company than I ever have and I am increasing my holdings.
Thanks Teddy, shares are getting cheaper should
I buy another 100,000?
STL
I have been told these wells are all classified as proven drill sites.
Teddy I'm assuming from your post that these drill sites are easily tied in or in fairly close proximity?
Maybe some are starting to get the message.
It appears that quite a few shares were purchased at the 25 cent level and the only thing I can think of is those parties wanted to take their 10 cent profit and run? If there was ever a time to get into this stock, it is now? This one field alone with 25 developmental wells will make this company. They are going to be cash rich shortly in order to do some of the other projects that have been shelved.
Any idea the motivation behind this?
TIA
WELL THE PRICE CERTAINTLY IS NOT REFLECTING IT.....
I have been able to determine from consultants on the ground in Canada, the company has understated the results that have been posted to date. I am told the wells will be on line and producing within a week or so. The selling makes no sense?
Did they cancel the hockey season, or something? What has got them so upset?
Please disregard the "highly" sarcasm Teddy
Other holdings and opportunities? ND wasn't
highly successful, anything else on the immediate horizon?
Regards
How does one figure out the drop in prices considering all the good news?
The stock rose before on no news, only speculation of good news?
Potentially up to $10,000,000 new annual revenue.
25 additional well sites with a projected 95% success rate and the stock falls?
With just this field the stock should have a $4 to $5 value and I know the company has many other holdings and opportunities.
Wonder what our sold asset value would be today.
This oil game is pure timing.
OT check out the breakout on NGAS!
Sweet!
I guess there was already too much anticipation of good results. I would note, also, that they only get half the oil (WSR gets the other half) and the actual flow rates will be less than the swab rates. But it's better than a kick in the shins, which is what we usually get.
oil they don't appear the be to enthusiastic
AM you still out there? What do you think? TIA
Confimred 627 BPD or $40,755 at $65.00 per barrel to come on line by mid Oct. 2 wet wells with potentialy 25 more. This brings the anual 2 well income to 12 million.
Nice
Better report out today. Sales beginning in mid-October should be enough to get the Canadians all juiced up.
Wow Teddy you've been around for the haul.
Your thoughts on recent drilling indicate you believe Manatoba could be a huge find and the company is down playing it's potential?
It is rather curious that Cudney has picked up nearly 8 million shares on the open market, many at significantly higher levels than the current share price.
Believe it or not a friend had a legitimate broker recommend WSR and ASR, I found this to be most unusual considering this companies history.
Regards, STL
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