Dover Petroleum Corp (fka DVPC)

[gempicker]

What are they doing to fix the high pressure situation? There is still great long-term potential in Slaterdome, Egypt oil looks to have fallen thru unless they are going to try and drill again. Why doesn't he just merge our Slaterdome interests with NFEI and at least get us trading again... Maybe NFEI can provide Dover shares of stock for our stake in Slaterdome and some cash from Sea Dragon stock or Salna himself..

[clairmontasap]

he wouldn't be selling that unless he was hurting..it's his claim to fame whenever I talked to him

serves him right...

[J Man]

However it looks like he is selling a piece of one of his properties to Sea Dragon

......exclusive period with Dover Investments Limited to acquire, subject to applicable governmental approvals, the Ras El Ush concession which is situated in the Gulf of Suez, Egypt. The Ras El Ush concession is a producing concession situated offshore in the Gulf of Suez and it currently produces approximately 1,000 BOPD of production ......

[clairmontasap]

tell you...I'm kind of glad to see Salna not win out after what he did to his shareholders

[clairmontasap]

thx

[J Man]

Looks like the latest drilling wasn't successful. See below for late yesterday's posting:

Sea Dragon announces results of the drilling program on the East Wadi Araba concession and two separate production and development deals.

February 17,2008 -- Calgary, Alberta, (SDX-TSX.V) Sea Dragon Energy Inc. ("Sea Dragon" or the "Company") hereby announces that the Dahab North Prospect was drilled by the Company to a final total depth of 9,750' MD/8,644' TVD utilizing the GSF #103 rig and has been fully evaluated by drilling two well bores from the same surface location in order to test Miocene and Pre-Miocene targets. The well encountered two separate reservoirs in the Kareem and Rudeis formations and hydrocarbons were encountered however the hydrocarbons did not meet the Company’s economic criteria. The Company is currently performing plug and abandonment operations.


The Company will consider additional drilling on the EWA Concession as it further assesses the results of the recent drilling and also awaits interpretation of the results from a well that is currently being drilled from the adjoining concession - South Warda.


Sea Dragon President and Chief Executive Officer David Thompson stated, "While we are disappointed by the results to date of the Dahab North well we are examining options for further development in the EWA Concession". Consistent with the Company’s long term intention to combine its exploration activities in the Gulf of Suez with lower risk assets it is announcing two new projects which will provide the Company with production and development opportunities that it believes have considerable upside potential.


Sea Dragon has entered into a letter of intent for an exclusive period with Dover Investments Limited to acquire, subject to applicable governmental approvals, the Ras El Ush concession which is situated in the Gulf of Suez, Egypt. The Ras El Ush concession is a producing concession situated offshore in the Gulf of Suez and it currently produces approximately 1,000 BOPD of production which would generate immediate cash flow to the Company upon closing of the transaction. The Company has been advised that there is the possibility to increase existing production through well stimulation. Additionally there are other exploration targets on the concession.


Sea Dragon has also acquired on a private placement basis a fifteen percent (15%) convertible debenture in the principal amount of $300,000 maturing on December 12, 2009 and convertible into 2,000,000 common shares (the "Debenture Shares") in the capital of Prevail Energy Ltd. ("Prevail Energy"). The Debenture Shares represent, on a fully converted basis, approximately 5.6% of the total issued and outstanding common shares of Prevail Energy as of the date hereof. Upon mutually agreeable terms the parties may elect to move forward with negotiations that could result in a merger, acquisition or other form of business combination subject to completion of satisfactory due diligence and required regulatory, governmental and/or shareholder approvals.


Prevail Energy is a junior Canadian oil and gas company based in Montreal. Management of Sea Dragon has been informed that Prevail Energy’s main asset is a 20% - 30% working interest in the 700 km2 onshore Mengo Kundji Bindi production concession situated in the Republic of Congo, Brazzaville. The joint venture comprising Societe Nationale des Petroles du Congo, Petro SA and Petroci is currently drilling a three well program with the second well underway and nearing its objective reservoir. The block is located within 20 kilometres of the prolific M'Boundi field.

[J Man]

I believe our interest in Egypt is shares in Sea Dragon. If we hit oil, the investment in Sea Dragon will be worth more. From what I could tell from my conversation with Mr. Salna, he thinks our long-term return from Slater Dome has a high potential and didn't bite on selling it.

NFEI issued a 10-q yesterday, basically saying that ongoing drilling or purchases will need to be funded from operating revenues, so I don't think they will try to buy us out soon.

[DonLeopoldo]

If we hit oil in Egypt, we might get bought out with CASH, or at least that is what I hope.

We are stuck in here ! until...

[slimpickens]

That's J Man. Would live to see this come back on line for us.

[jerseyboy]

J Man,

Thanks so much for your efforts. It gives me hope that my investment here, which is considerable, will someday be rewarded, and that Mr. Salna is continuing to make his best efforts to develop our company as best he can in this difficult environment.

[J Man]

I had a brief conversation with Mr. Salna this morning. The drilling in Egypt should reach the formations they wish to test in about 10 days, so keep your eyes on Sea Dragon for updates.

Second, both NFEI & Dover Petroleum are hunkering down because the current cash prices for NG are not covering operating expenses for new drilling and this is not the climate to secure new additional financing.

As for the audit, he said that after spending about 100k on it he suspended further spenditures, because 80k more is needed to complete the audit. The audit will restart when we get a bump in revenues. After that he want to have the stock listed again on an exchange.

I asked about Slater Dome's and whether it made sense to sell the field. He said there is great potential to our interests there and mentioned when we drilled into the Niobrara formation that had too much pressure for the cement casing.

Based on this another company drilled into the Niobrara nearby and this well is producing more than all of our 14 wells together. Based on this he thought there a lot of long-term potential.

[clairmontasap]

GL

[farside]

Yes DVPC holding very steady around the 0.027¢ mark, hoping we might hold that support and eventually move up from here to some new highs, some sunny day, hope springs eternal !! And to think with the financial meltdown we haven't lost any ground at all compared to so many other companies. price still sitting there at 0.027¢ in my brokerage account. On a more serious note - Just wondering, since it is still sitting in my brokerage account, and hasn't yet been scrubbed, would this indicate that there may be a legitimate possibility of a comeback to trading from here ?? Any thoughts ?? perhaps someone could call Salna, and see what he thinks ??

[farside]

Has anyone called Salna, to wish him a Merry Christmas, and to see if he needs any financial assistance to purchase the Christmas turkey ?? or are we the Christmas turkeys for having ever trusted the guy ??

[clairmontasap]

it doesn't look good for DVPC...no news for months....

[farside]

Anything Going on Here ?? Has somebody turned the lights out ?? are they likely to ever come back on again,?? or have we been duped yet again, by another unscrupolous CEO ??

[clairmontasap]

thx

[J Man]

Here is the latest from Sea Dragon:

November 26, 2008 -- Calgary, Alberta, (SDX-TSX.V) Sea Dragon Energy Inc. ("Sea Dragon" or the "Company") is pleased to announce that the Company has commenced drilling of its Dahab North prospect in the East Wadi Araba ("EWA") Concession. The EWA Concession covers 193 square kilometres, or approximately 47,691 acres (35,768 net acres), located off-shore in the Gulf of Suez, Egypt. The Gulf of Suez currently accounts for 50% of Egypt's total oil and gas production of 660,000 boepd.


As referenced in the Company's news release dated November 3, 2008, Sea Dragon now has the Transocean GSF Rig 103 set up and has now commenced drilling its Dahab North prospect. Key attributes to the Dahab North prospect and the EWA Concession as outlined in the Sea Dragon Prospectus dated July 3, 2008 under The EWA Concession; Statement of Reserves Data and Other Oil and Gas information and Summary of Estimated Prospective Resources in the EWA Concession include:


Prospective Resources - Best Estimate (NI 51:101);
Total Development Well Count - 5;
Initial Rate / Well (STB/d) - 4,500;
Undiscovered Petroleum Initially In Place ("PIIP"), Thousand Stock Tank Barrels ("MSTB") - 161,270;
The recovery factor of reservoir oil in this area is one of the highest in the world and might reach 45-50% on primary recovery as a result of three main factors:
1. very active water drive;
2. good quality, laterally extensive, reservoirs; and
3. higher than normal reservoir pressures and temperatures.
The gravity of the oil from each prospective reservoir is estimated to be 22-25 API;
Productive hydrocarbon zones are expected to be encountered at depths of 2200 metres or less;
Multiple target reservoirs of the Kareem, Rudeis and Nukul formations; and
The Gulf of Suez has a well-developed infrastructure in place to transport oil to market.
"We are excited to announce the spudding of our Dahab North offshore drilling prospect. With an anticipated timeframe of 45 - 60 days, we expect to be at total depth in Q1'09. Given the historical production in the adjacent Warda Field combined with our extensive seismic information, we look forward to the potential of our first prospect" stated David Thompson, Sea Dragon's president and chief executive officer.

[gempicker]

Apparently not. No news, still no status update, maybe we just drift away?? Maybe Salna should purchase additional Sea Dragon stock for the shareholders here so we can get a bigger piece of that pie than the 2% of stock DVPC holds.. Would be a nice way to make right with shareholders here..

NFEI still hasn't released more info on the one well that supposedly had high pressures and significant oil traces..

Let me know when any light is shed on this dark shadow...

[J Man]

I sent a note at the end of October and haven't heard anything. I expect that he is over in Egypt for the upcoming drilling (See the Sea Dragon announcement), so I doubt whether we will hear for awhile.

[gempicker]

Yep, this is mostly a ng play only anymore and probably why Salna is not in a big hurry to do anything.. Hopefully at some point as Slaterdome get further developed we'll get some buyout or start trading again..

The lack of update to shareholders is disconcerting for sure...What is the progress on audits, plan for re-listing, revenue update, etc, etc...

[clairmontasap]

this whole deal was a big mess

[J Man]

Although I would love to share in wealth, DVPC owns about 2.5% of Sea Dragon. After you share revenues is the Egyptian Govt (75%) and sharing the remaining 25% with Dover Investments -- 75% for Sea Dragon & 25% for Dover Investments, a find will have very little impact on our stock when and if it starts trading again.

[DonLeopoldo]

At least DVPC is not falling, LOL.

Maybe we find Oil at EWA and then we get some Sea Dragon shares and make a bunch .


Who knows !

[clairmontasap]

thx

[J Man]

Just noticed this:

Sea Dragon Announces Final Preparation for Gulf of Suez Offshore Drilling Program

November 3, 2008 -- Calgary, Alberta, (SDX-TSX.V) Sea Dragon Energy Inc. ("Sea Dragon" or the "Company") is pleased to announce that the Company is making final preparations for the East Wadi Araba Concession exploratory drilling program.
The Company is finalizing logistics for towing the rig to the Company’s first prospect, Dahab North target to commence the drilling program. Further, all necessary permits including the satisfactory seabed survey have been completed, drilling supplies are ready and charted, rig crews secured and tow boats have been contracted.
The Company is finalizing logistics for towing the rig to the Company’s first prospect, Dahab North target to commence the drilling program. Further, all necessary permits including the satisfactory seabed survey have been completed, drilling supplies are ready and charted, rig crews secured and tow boats have been contracted.

[clairmontasap]

And Salna's laughing all the way to the bank...

[Diabolic]

Oil and gas prices are going down while we are stuck with DVPC shares.

[clairmontasap]

NFEI news:

New Frontier Energy, Inc. Completes Testing Federal 12-1 Well at Focus Ranch Unit

DENVER, CO – October 27, 2008– New Frontier Energy, Inc. (NFEI: OTCBB), a natural resource company engaged in the exploration, acquisition and development of oil and gas properties in the United States, today announced that it has finished preliminary testing of the Federal 12-1 well at the Focus Ranch Unit.

“We are pleased with the initial results for the Federal 12-1 well, and we are proceeding with requesting assignments of underlying leases in the Unit approximating 36,900 gross acres. Upon completion of the assignments, New Frontier Energy’s total acreage in and adjacent to the Slater Dome Field will increase to approximately 84,700 acres,” said Paul G. Laird, President and CEO of New Frontier Energy.

The testing of the well, drilled into Niobrara/Frontier formations, resulted in natural gas and condensate flowing to the surface. The Company’s preliminary flow rates from testing the Frontier formation approximated 1.2 million cubic feet of gas and 100 barrels of condensate per day. Uphole testing of the Niobrara formation yielded flow rate potentials of 1.3 million cubic feet of gas. Paul G. Laird, President and CEO of NFEI said, “We anticipate the Federal 12-1 well will produce approximately 2.3 million cubic feet and 100 barrels of condensate per day, and could add between 14 and 25 billion cubic feet of gas reserves to our reserve base, depending upon the completion procedures utilized.”

About New Frontier Energy, Inc.
Based in Denver, CO, New Frontier Energy, Inc. is an independent natural resource company engaged in the exploration, acquisition and development of oil and gas properties in the United States. New Frontier Energy has interests in four properties, the Slater Dome Field, located in northwest Colorado and south central Wyoming; the Flattops Prospect located in southwest Wyoming; the Amber Waves Prospect in the Denver Julesburg Basin located in northeast Colorado, and has entered into a farm-out agreement to acquire the Farmor’s interest, ranging between a 74% and a 99% working interest on a lease by lease basis, in the Focus Ranch Federal Unit, located in Routt County, Colorado adjacent to and southeast of the Slater Dome Field.
New Frontier Energy is focused on expanding CBM gas production at the Slater Dome Field, and exploring the adjacent Focus Ranch Unit and Flattops prospects. The Slater Dome Field is a coal bed methane development project located in the Sand Wash Basin or Atlantic Rim area near the Colorado and Wyoming border, and is a sub-basin of the Greater Green River Basin. The company owns controlling interest in an 18-mile pipeline that delivers gas from the Slater Dome Field to a regional transportation hub in Baggs Wyoming. The Company is in the process of marketing the Amber Waves Prospect to industry drilling partners. New Frontier Energy's common stock is listed on the over the counter bulletin board under the symbol "NFEI." Additional information about New Frontier Energy, Inc. can be found at the Company's website www.nfeinc.com

Forward-looking Statements
The statements contained in this press release which are not historical fact are forward looking statements that involve certain risks and uncertainties including, but not limited to, decreases in prices for natural gas and crude oil, unexpected decreases in gas and oil production, the timeliness, costs and success of development activities, unanticipated delays and costs resulting from regulatory compliance, and other risk factors described from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. No assurances can be given that these statements will prove to be accurate. A number of risks and uncertainties could cause actual results to differ materially from these statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.

For further information contact:
New Frontier Energy, Inc.
Paul G. Laird, President
[phone]

Investor Contact:
BC Capital Partners
Bill Conboy
Phone: [phone]

[J Man]

I was on vacation last week and received this note from Mr.Salna late Friday 9/26 to a e-mail I sent earlier that day.

Sorry about the delay in posting:

I have not heard if one of the wells we drilled last summer has been hooked up it looked like it had a lot of potential and the reason we had trouble hooking it up was the large pressure it was exhibiting . Keep in touch when I find out I will release it. Should be soon I hope . RS

----------------------------------------------------------------
Subject:
Date: Fri, 26 Sep 2008 12:38:15 -0500
To: [e-mail]

Mr. Salna:
Any updates on the filings or slater dome drilling?

[vtbound]

I agree, send it. Well written, can't hurt.

[Fcap05]

Send it, it's not going to drive this stock any lower.

[clairmontasap]

wrote this, didn't send it. kind of a way to vent:

Dear Mr. Salna,

I have been a Dover Petroleum Minority Shareholder (DVPC) for the past year. During that time I have seen the company make vast inroads in its growth plan with the successful completion of 8 natural gas wells on the Slaterdome Prospect in Colorado/Wyoming. I have seen this correlate to increased shareholder value, which has been reflected by a 100% increase in price per share over that period.

Unfortunately, the lack of regulatory filing submissions to the Securities and Exchange Commission over the same period has led the regulatory body to suspend and delist from trading the common shares of Dover Petroleum. The suspension and delisting has caused illiquidity in the equity which I and other shareholders still possess.

I would like to ask you, as Chairman and Chief Executive Officer, to perform your fiduciary duty and make current the regulatory filing submissions to the SEC so that DVPC may trade on an exchange again. The company, while though small, has a great deal of positive outlooks for the future. I believe Dover Petroleum would benefit to be trading on an exchange to both provide liquidity for current investors as well as to attract new ones. I trust you will do everything in your power to speed it’s return to the public markets and I appreciate your prompt attention in this matter.

Best Regards,

[westeffer]

The Prez here could care less about shareholders. He stole our share value from us by being irresponsible in reporting. Now he is sitting back and charging an interest rate he hasn't revealed on the $10 million advanced to DVPC from his personal account. He certainly has a call provision on the loan so he could call the loan and take over the value of the company IMHO. Our only chance of recovery is to have a class action lawsuit when he calls the loan. I could be wrong, but this guy/company stinks to high heaven. Prove me wrong Salna.

[gempicker]

Still no update??

[rxgator]

Me too

[clairmontasap]

I think the latter mostly Randy.

[RandyKCMO]

Question for all longs. Does anyone know if historically DVPC's shareholders ever provided operating capital to the company or whether most shareholders are shareholders from some former shell or if most have come on the scene after the fact and just invested in the company's future success.

The latter is my experience.

Just curious.

Randy

[mick]

o.k., thanx

[clairmontasap]

not by NFEI, maybe DVPC's CEO

[mick]

do ya think there was a double cross by NFEI?

[clairmontasap]

in the toilet Mick

I think the days of dreaming about EWA and Slaterdome are long gone.

[clairmontasap]

in the toilet Mick

I think the days of dreaming about EWA and Slaterdome are long gone.

[mick]

hi clair, where does this leave 'Dover Petroleum Corp' shareholders?

[J Man]

Just listened to the second-half of NFEI production update conference call. It will be posted on their website tomorrow.

Although I didn't hear it all, what I heard was that currently NFEI is producing 1.4 MCF / day at an avg of $7.52 and they hope by end of year to be producing from current wells with 2 yet to be connected 2.8 MCF. At that point NFEI will be at positive cash flow.

They also mentioned that the last 6 months revenues were $940k compared to $137k for the same period last year.

Didn't hear all this and will need to check out tomorrow, but they believe there are large shale deposits under most of their properties which could be large producers.

I suggest we all listen to the replay tomorrow on NFEI.

[gempicker]

Thanks JMAN for following up on that. It seems like a long/complex process.

I'm interested to see how much gas/oil they get out of their well NFEI just announced that will start production in October. Might change the landscape of value here if they are producing both

[J Man]

Gempicker:

I called the transfer agent today. It is possible to trade as long as if you have a stock certificate. If your broker gives you issues on this just keep pushing. I use both T.D. Ameritrade & Schwab and both provided certificates after Dover was delisted. Once you have the certificate turn it over and their is all the info you need to make it happen.

You insert the $$ received for the stock from the buyer.

Next you insert the buyer SS# followed by buyer's name and address.

Next insert # of shares in the transaction,

Next insert Continental Stock Transfer & Trust Company as Attorney to transfer shares of stock,

Finally date and sign it.

At that point your broker must certify that you are the person on the certificate and I believe they put a seal on it.

At that point it is forwarded to Continental to record the transaction and to issue the new buyer a new certificate.

Transfer Agent is:
Continental Stock Transfer & Trust Company.
[phone] --- when you dial this push #3 and that will connect you to the transfer department.

Bottomline -- there is a way to sell to others even when delisted.

[clairmontasap]

Got this in the email:

New Frontier Energy, Inc. Provides Operational Updates

· Investor Q&A webcast scheduled for 4:15pm EST, September 18, 2008

DENVER, CO – September 15, 2008– New Frontier Energy, Inc. (NFEI: OTCBB), a natural resource company engaged in the exploration, acquisition and development of oil and gas properties in the United States, announced today operational developments for the Slater Dome Field and Focus Ranch Unit.

The Battle Mountain 13-5 well, drilled during the 2007 program, has reached the final stages of completion and is expected to be placed in production during October. The company encountered significant shows of oil during the completion process. NFEI holds a 66% working interest at the Slater Dome Field.

The Federal 12-1 well located on the adjacent Focus Ranch Unit is scheduled for testing during October. The company plans a 24 hour flow test in both the Niobrara and Frontier formations to determine if commercial quantities of gas are present in the well. New Frontier Energy has executed a farmout agreement whereby the Company will acquire an average 74% working interest and become the operator of the 36,891 gross acres Focus Ranch Unit. The acreage is strategically located adjacent to the Slater Dome Field and gas pipeline. The Federal 12-1 well is located approximately 9 miles from the Company’s compression facility at Slater Dome. Paul G. Laird, President of New Frontier Energy said, “While it is early in the evaluation process for the Battle Mountain 13-5 we are very encouraged with the potential for oil production, along with the potential for gas production from the Iles coal section. Further testing is in progress which will determine the final steps of how the well is completed.”



“The Federal 13-5 well has confirmed several geologic features identified by our 2D seismic analysis and the Company plans to offset a well targeting similar features in the vicinity of the Federal 13-5 this fall,” said Paul Laird, President of New Frontier Energy, Inc.

Investor Webcast

New Frontier Energy CEO, Paul Laird will host an investor Q&A webcast on Thursday, September 18, 2008 at 4:15 p.m. Eastern time. Please contact NFEI investor relations at 303-415-2290 for additional information. To register in advance for the webcast visit http://www.visualwebcaster.com/event.asp?id=51453

What: Operations Update and Investor Q&A Webcast

When: Thursday, September 18, 2008 at 4:15 p.m. Eastern Time

Where: www.nfeinc.com

How: Live over the Internet – Via the New Frontier Energy web

[TraderRich]

I've only got 50k shares but if someone wants them I'll sell them for the avg price between the range that the stock last traded at. As far as I can see, DVPC last traded on 5/15/08 with a low of .022 and a high of .027, making the avg price for the day .0245.

So, I've got 50k for sale at .0245 if it turns out that we can do this.

Rich

[J Man]

I'll call the transfer agent and find if and how we can trade between ourselves and what the transfer agent needs from the transaction to verify transfer of ownership.

If it is possible, anyone interested in trading?