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Don't worry mackfish,
I am sure BECC will squeeze off, re-enter, deepen and kick-off the Hoppe as soon as it depletes. That's probably what the extra 4.5 MM$ is for. That would double the number of horizontal wells they have drilled.
IBIN lOSING SLEEP wondering why that deeper zone wasn't horizontally completed and fraced by one of Breitlings publicity hounds. What a lost opportunity for shareholders. Care to ( big word) elaborate?
I still get a kick out of how many names Mike Miller has, I actually still to this day think Mike Dustin Miller was skreech on saved by the bell..
They should both be in jail
PS under .03
Sub penny shortly!
IMO
Interesting. My general view of the board doesn't show that post as pinned. I can see it in my other view and will remove it in time.
I will leave it there for now so people can see that it was a mistake that I made, while looking at TRRC filings. I mistakenly posted permit depth rather than completion depth.
However, I don't recall your questions and have no plans to look for them.
IMO and FWIW.
No ultimatum. But if I cannot narrow down the nature of your misconceptions, I have to type too much. You know that post you pinned at the top of this board containing nonsense sprinkled with incorrect statements about well depth? Follow that thread and you will find my questions.
I don't understand your point. Care to elaborate?
LOL, IMO and FWIW.
Hey reaper. Looks like Isaac Newton was right
LOL reaper. Breitling sending out rebates yet for the incomplete wells? Must be a little embarrassing to back woebegone amateurs drilling crap wells on crap leases. You sure did well in finding the Nonesense here, congrats
Well mackfish,
Considering that it took me a couple of months to convince some people that the agreement even existed to begin with, along with another week or two of explaining which county the agreement was in, I am comfortable in making the observation that some opinions are just nonsense.
LOL, IMO and FWIW.
LOL reaper. The Perfectly Precise Point is that Breitling and Steller, two amateurs playing " 0il co" leased a worthless parcel from a more capable trader. For sure, Claty knew the lease was crap. The question now being did the amateurs know? I have my opinion regarding that possibility, but investors paying for their classes in a non accredited school should get their money back. Guess who forgot the quarterly report today?
Pffftttt FM 11,
Wait…what?
I recall a post describing the TRRC info as worthless, irrelevant and out of date. Now that same source is being utilized to prove or question an insignificant issue. I believe this discussion should be left to professionals that are likely willing to answer unnessarily addressed questions relative to discovering or producing oil or gas if asked in other than an adversarial manner. For sure, the question wasn't asked or answered by Breitling
Reaper,
There is a lot you don't understand. I can answer your questions with two sentences. Because he didn't think it was worth it. I only expressed a reserve opinion on producing wells. No more questions until you answer mine unless it is interesting.
LOL reaper. The " target" was always JI and SHs pockets. This isn't a geology or engineering board, however, I'm happy to inform you the Fusselman and Cline development in Breitlings area are poor. It wasn't necessary to look at logs or pressures or history to make this claim.
LOL reaper. The " target" was always JI and SHs pockets. This isn't a geology or engineering board, however, I'm happy to inform you the Fusselman and Cline development in Breitlings area are poor. It wasn't necessary to look at logs or pressures or history to make this claim.
LOL, FM 11,
I did notice a few things though after taking another look.
About 1200 ft north of Breitling’s Sellers 60 #1 that has yet to be put into production, is the original Sellers 66 that has been producing for about three decades.
The completion depth on that prospect looks to be about 8700 ft, targeting the Fusselman formation, which would also incorporate the Cline formation.
Isn’t that almost 2,000 ft deeper than two of the three CWEI leases @7000ft that you have based your ROI projections on?
I don’t understand why Clayton Williams CWEI would drill short of potential pay zones that had already been established in the mid 1980s.
I also don’t understand why someone would base their production models and ROI for JI partners based on those shallow wells, while Breitling’s approved permits are deep enough to incorporate the Cline and Fusselman formations that have been successful in the past.
Isn’t there more potential on those deeper pay zones that Breitling is targeting?
IDK, IMO and FWIW.
OUTSTANDING&ACCURATE. Takes experience to post a capsule of information from the diverse sources in this example. SEC investigative criteria will or have already followed the same trail you exposed. Investors shouldn't be surprised by sanctions within the next 8 months. Admittedly, this is a small fry operation, but the FracMaster has painted himself to be targeted. Can anyone picture the scolding Don Imus would give Stu Varney about his sessions with the Fracmaster following today's posts? There are zero mineral owners in the Parremore area that would allow an operator to run off and leave a well shut in and incomplete or not completed for a year. Lawsuits, lies or shut in royalties are in effect at this time
I am not implying this - however it is very common for many of these drilling promoters to 'oversell' the well lets say to 500% Working Interest owners.
This generally works out fine if the well is dry, however if they need to complete it, produce it or put surface equipment on to place the well into production this is usually when a problem starts to occur as proper payment can never occur.
I have seen this occur SEVERAL times in recent years by some popular dallas promoters.
Just to pull things back on subject, the problem with BECC drilling bad areas and hyping bad wells is that disillusioned direct investors are created. Completely new direct investors must be found and that takes money. It takes PR firms who are paid. It takes media outlets that are paid-up. It takes industry magazines who expect to be paid.
Now, BECC can form up an indefinite number of corporations so that its name and Chris Faulkner's name are not associated with the "retail" operations. Investors who fail to research the connection are just what BECC is looking for. So Patriot Energy and as many reincarnations as needed can continue to find virgin investors, but regardless of name, oil finding talent is needed for the exponential growth needed to justify even the current stock price. I have seen many companies like BECC and actually tried to name some on this forum, but was deleted. My guess is that CF and his friends will not make it to the next price cycle.
The above is my opinion and admittedly, I am still bumfuzzled that CF achieved the credibility he used to have, so take my opinion for what it is worth, but remember I have been right about all things that matter. The only mistake I have made on this board is that one time I thought I was wrong (old joke, I know, but it is basically correct).
I am sure that there are traders who have made money and lost money on BECC. As far as I am concerned, traders in these effectively defunct penny stocks are in a high risk business and they know it and they can take their chances. I have no problem with that. I do have a problem with CF as a representative of the energy business. I think it was a mistake to give him a pass because he was promoting fracking. When he is discredited, everything he has said will be discredited. A lot of what he said was correct. He is relieving money from the uninformed and perhaps momentarily careless. I don't like that. It is embarrassing to the industry and makes it harder for legitimate oil companies to operate. It also invites costly regulation.
For those of you who like high risk trade, buy or short or whatever you do. Heck, BECC might be the target of a reverse merger.
And by the way, this information comes from the driller and from the logger. These are the original sources that CW would use to determin the depth of the well. I just can't resist:
I've got your answer right here. I did bother to look it up. Did you?
I did bother to look it up. Here is a summary of what I found. There are still three questions out there, but those are problematic, I suppose.
None of what I said conflicts with CW assuming that TRRC reported it accurately.
Some posts shouldn't be taken seriously.
You are right. We are are total agreement on that one. Your recent comments about my posts are nonsense and when I asked you some simple questions, suddenly the subject is changed.
It is much easier to talk about mythical anti-frack bloggers than deal with reality, I suppose. Care to back up what you said?
Reaper confusing permit depth for well depth (TD) is the more likely explanation.
ROFL, reaper.
9000' is the permit depth, not the depth the well was drilled to. The well was drilled to 6900'. Is this perhaps out of you depth?
http://webapps2.rrc.state.tx.us/EWA/leaseDetailAction.do?selTab=1&methodToCall=displayLeaseDetail&rrcActionMan=H4sIAAAAAAAAAMWTS4vbMBDHP417MRhp5Cj2YQ5q1i2BrJMqoSGEPWhjkRU4sZEc2gV_-EruI6-WhR7aizXzn4dGP0s9JQRZTwlFeGftTuw60xzlzlZb8oSD_kU_q7Z1kPhw4jrV6aT7mpxcxERGfAZgBB-KtfAmC2ZlTV2b436h7cF07tNJ29fvbZOq8UkpHnT30lSrZqLq2gsjtLo72eOqWWpldy9eypDcTbN1Q1TYvUtaZdXhs6pPehjS90wZDcYIn_XeHN3adKEPGWMOKYc02Nl1jMKNf1l7szv9dyzcTwYcW7XX9uKsvwVDn7a3eWFYpD0gJT1DyvoUST9C6LlX7sv_I1f4S661Vk4_6E6Z-g2clXFtrV5n54I_o6V3020vNgrSLSBKAiDGgEPwGLI85QEK9e_Jo_nlAi6ElOJxLos4AuDcf4Lu_0wWGAKq1pThDP49jmkenqTnkpKcX4dpfibvycZ8TOM42BznYcnOYSC4ns5mU_G4jGAST2Zis5qXcVEW8uMmKNNykoQ8igEsAGYjyAgjA3F25aW4XEjxvpBy4-fPVrIoH2IhCxFBfk_tjQv54z7S4T5-A7Nz8jaCBAAA
LOL reaper. Blame the incompetents delay on the internet simpletons and antifracing bloggers. The probably dropped an upside down bit in the hole____ cause they determined they had been scammed. It's never Breitlings fault, they only ran off after payday. The mineral owner can complete the well at his leisure, assuming he is encouraged by logs and pressures. Something tells me that will not be the case
LOL reaper. Blame the incompetents delay on the internet simpletons and antifracing bloggers. The probably dropped an upside down bit in the hole____ cause they determined they had been scammed. It's never Breitlings fault, they only ran off after payday. The mineral owner can complete the well at his leisure, assuming he is encouraged by logs and pressures. Something tells me that will not be the case
Wrong again FM 11,
I've got your answer right here. I did bother to look it up. Did you?
According to the TRRC, the initial CWEI Parramore 66, "671" well was the deepest @9000 ft.
The offsets weren't drilled as deep.
The CWEI Parramore 66 "651" was drilled to 8300 ft and the CWEI Parramore 66 "672" was drilled to 7500 ft.
If you have information that contradicts the TRRC filings for Clayton Williams in Sterling County, now would be a good time to post it.
I guess we have finally found some common ground.
Some posts shouldn't be taken seriously.
LOL, IMO and FWIW.
jpo,
I did acknowledge your posts. The relationship between Breitling, Crude and Patriot are in the SEC docs and has been discussed several times here. There was even a PR.
We also already knew that the Sellers has yet to be put into production along with other some other Sterling County prospects. I don’t know the reasons for the delay, since I have never had any contact with the company.
I cant pretend to know what direct investors are and/or were told about the progress of their investments. I also have no way to confirm or argue about which investors paid what for their interests in any given well. That is not public information.
What I do know, is there are internet bloggers and anti-fracking buffoons that are posting information about Breitling that is either incorrect or irrelevant.
I know of at least one person that has posted irrelevant or incorrect information on several blogs and boards, under multiple aliases, including here on ihub.
I do hope your investment in the Blue Wolf prospect eventually yields some nice returns.
GLTU, IMO and FWIW.
My apologies, I was making a joke because the first well, the 671, is the shallowest. Wouldn't be funny to people who, rightly, didn't bother to look that up. Still waiting for reaper's answers.
The only redeeming factor, you can determine the tax loss, due to the lost lease. Welcome to come world.
Reaper, why not acknowledge my posts of the obvious scam here?
I am a direct investor in Breitling's Sellers 66 well which was marketed as the Blue Wolf.
Regardless of past operator's results on this lease, Breitling drilled a well to the deeper formation more than a year ago. To date they have not placed production equipment on site so no checks for me nor Breitling.
Now I am hearing the the mineral owner is upset with Breitling over non performance...perhaps taking back the exploitation rights since the lease is not held by production. Unconfirmed at this point.
Losing the lease will be the end for this apparent scheme.
I'm trying to figure out how the 671 is deeper than the 672. mackfish, if you can help me with that, please do.
I can answer that question, assuming the WITNESS not being willing. In the spirit of fairness, he MAY wish to take the opportunity and I can temporarily defer
Reaper,
I am going to make this brief so as to not distract you from the backlog of questions I asked you and you haven't answered.
I didn't think it was important. There are a lot of things I didn't mention about these wells.
I have a question for you. How is hole beneath the producing interval important?
If you answer that question, I will go into more detail.
Oh, just three more questions. How does rathole relate to ROI calculations? In the case of the CW wells, their production is historical fact for the most part. As far as the Hoppe, how is the fact that CW drilled to 8200 feet but completed above 6808 relevant to the Hoppe ROI?
When you discussed the CW Parramore lease being good, why did you leave out that there are three wells on it. Seems that would be relevant to economics?
Like I said in an earlier post, your idols gave Claty a free look at Cline development in the area. The Cline was not a known target or producer when the offsets were drilled. In any event, it's still an economic failure
LOL…FM II,
OK, I did some TRRC research and have a few questions.
From that less than optimistic post, I believe Investors may want to make a change in their will. Cement is a better solution, as attys don't seem in favor here. Didn't someone declare Breitling to be marching forward with new sponsors being trucked in and going forward with new prospects? No worries, the Tex RRC will see to adequate plugging at taxpayer expense.
.
Yep. Once you have a model of future production, you can test sensitivity. I ran the model from when the Hoppe was drilled. It takes $350 per bbl oil to pay out a 3.5 MM$ well like the Hoppe. It pays out in 12 years. So if you get a modest $300 price increase for oil, you may get your money back on a future well like the Hoppe. If an investor buys into the well for $8 million gross, a modest $600 a bbl increase will get his money back in 21 years with zero percent IRR.
OK, let's look at reserves. If a well like the Hoppe, given $100 oil, declines not a bit from the Hoppe current rate of 10 BOPD, You will get your $8 million back in 33 years. But....within 100 years of well life profits will be $47 million dollars. That's an IRR of 3%. Better than a bank savings account, I suppose...if you ignore the risk.
I have to go by memory, but I was reading the terms of a drilling fund in the eighties. The terms were something like 100% to casing point for 90% of a well and if the well paid out the fund manager backed in for a 40% WI for free. There were management fees, of course. I assumed it was legal since it was all spelled out, but it would take a layman to think an investor could make money. I assume it was legal since it was all spelled out, but basically an investor paid for the well and the manager got any profit. According to OPC, Breitling didn't spell out anything, which I have always suspected, but do not know first hand.
The sheriff has been ordered to seize $92,000 in BECC assets. I wonder how that is going? However, my theory is that BECC cannot raise more money without a phone bank and office space so that is part of my end-game model. As far as their operated wells, as soon as a rod parts and there is no money to fix it, that will be the end of the well.
I guess someone in Dallas could walk by their office and see if there is any furniture. At the very least, I would think they would keep the door locked and dive under any remaining desk every time the elevator bell dings.
I wasn't laughing when I spent more last year on atty fees than your Breitling exposure. I collected 6-1 and the laughs were invaluable. Some of them are known to make pretty fair judges. Don't get caught in W Texas
That is funny. An atty with an eye to fairness. Attorneys are their own judge of fairness.
It's a lowdown shame the promoters get away with this scam for as long as they do. I doubt the selling price of Peters interest would be looked upon favorably in any court. Been a while since I perused those instances as I only recall such an egregious circumstance one time in the early eighties. But then, we are talking Dallas. I suspect any experienced atty with an eye for fairness could dissect the Breitling formula in short time. I see absolutely no reason Breitling wouldn't have to repay part of the expenses on the completed well that was overpriced and all of the money for the uncompleted wells. Who knows if the location has even been surveyed. This has zero connection to Breitlings birth date or share disposal, bloggers or fracing.
Oops. You can only put so many straws on the same drink and keep expecting fluids.
Ever here of the show "The Producers"? Same concept slight twist. Pay some of the investors for the testimonials. Ta Da. More investors swinging for the fences. Go to XX tell everyone (8K) You were there and know the inside scoop and ta da.
Most investors understand why an amateur co loses its BOD and outside auditors.
I am just hoping direct investors do a little internet searching. Maybe check out the SEC site. I certainly understand why Breitling sells prospects under a different name.
BTW, I adjusted my projection of future revenue for the Hoppe well based on additional production data. I assumed that WTI will modestly increase to $100 a barrel in June. Under that scenario, the well pays out nearly 10% of its cost.
There are those that dont give a rats rear about when this non performing-non filing co was formed. Putting aside all the bullshit, the bottom line clearly indicates this compay being an abject failure with insider goal of draining investors rather than oil bearing rock. Most investors understand why an amateur co loses its BOD and outside auditors. It's getting really bad when the SEC has to come in and direct the co to file an 8K advising the companies proud filings to be all bullshit. The YUGO is winning this race to oblivion only because it's worn out its supply chain first
Some still don’t know when or where Breitling was originally formed, or how long they have been a public company.
Well that wouldn't be me. I have always known that CF was involved in an Oklahoma corporation with Breitling in its name going back to 2004. I also looked up when the corporation that is now BECC was chartered. Definitional thing which actually is supportable by SEC filings. Type in Breitling Energy and look how far back the filings go on the SEC website. I also know when Breitling Oil and gas was chartered in Texas and, additionally, I noticed when BECC started its push to be noticed publicly. It's all in the internet archive. I also knew in December 2013 when Bering bought Breitling's assets with stock.
Basic research into Sterling County, that includes the CWEI parramore 66, only goes to show that a combination of underperforming offsets from the original well, combined with almost two years of unfavorable $WTIC prices jeopardize the overall profitability for Clayton Williams.
I don't know what you are saying here. No well operated by CW was profitable, as in paid out, to 100% interest in Sterling County during some of the best oil prices ever. You have already said that RRC production data is useless. You are wrong about that and I really don't know where you got that idea. BTW, new production figures are out for BECC wells in Sterling County showing continued decline. I know you think they might jump up to 200 BOPD, but it just ain't so. What was the term for what you are doing? Oh yeah, grasping at straws.
It does not mean that wells currently being developed, with newer technologies and enhanced recovery methods, will yield those same results for Breitling’s direct investors in Sterling County.
One of the differences between you and me is that I know what new technologies are out there and what has changed over the past couple of years. I also know the state of EOR in the area. But it is a straw to grasp at. You are sounding like CF here, vague references to technology that other companies might use on other wells.
In fact, a modest recovery in $WTIC prices could yield nice returns for Breitling’s JV and JI partners.
Do you have a basis for that statement? Now we are in the virtual straw area.
All the talk about "painting the tape" is not interesting to me and I was never involved with that, but if you want to discuss oil well economics, I am quite interested in doing that.
LOL…FM 11,
Funny stuff.
L O L. Poking fun at scamsters is a o k when fish don't bite.
jpo33,
I cannot fathom why these message boards for BECC are so active. If you all are really investors in BECC, you too are fools like me.
Well, as I have stated, I am here because CF is so completely arrogant and obnoxious that he is an embarrassment. I have never made a secret of that fact. There is nothing unique about CF, he is just a visible target.
In my opinion, this has been a months long flame war with reaper the chief troll. I would have lost interest except for my hope that some of the facts I present about BECC show up on Google.
I really don't care if anyone believes me. For example, if I told you the well you bought into at 8 MM$ should cost 3.5 MM$, all in, you might have done some checking. There would be no need to take my word for it.
I am sorry for your loss. My purpose is to give people a heads up. Also, every time someone says I am wrong when I'm not, I tend to respond. Kind of a hobby, if you like.
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