Energytec (fka EYCTQ)

[joyceful59]

Thanks!

I just can't abide what is going on over there. Keep me posted.
Your friend, Joyce

[thecybertrader]

Hey old,

Yes I had seen that, but as it states they were "seeking" what their obligation may be, so I was just curious if anybody knew whether or not they had found the answers? I don't know, as I've said many times, I don't want ANYBODY to lose money here!!

The bankruptcy thing is also interesting... I mean I wonder what the ACTUAL "break up" value of EYYC actually is?

It's rare, but I have seen a couple companies where shareholders were NOT wiped out when a company filed bankruptcy, but it sure doesn't happen much at all!! Covad Communications was probably the most known company that was able to file bankruptcy, yet not wipe out the stock holders. Mayve that is a possibility here "IF" they had to file?

Lastly, don't you think they would try to sell everything that wasn't bolted down to avoid bankruptcy? I mean I would think so, I mean SURELY they could raise more funds from other assets sells if needed??! This is why I am so curious about just selling another asset!!

Like you said, who knows, all we can do is wait!!

I wish us ALL better days ahead!!

Stay healthy,

~Cyber
Yes, the above is just my opinion...

[oldundrtkr]

Cyber

this is from the 10-q filed on 11-2-06.
"In connection with a private placement of the Energytec’s common stock, which ended December 22, 2005, Mr. Cole, without authorization or approval by the board of directors, granted to investors a contractual right to put the shares back to Energytec on November 15, 2006, at a price of $3.75 per share if the per share market price does not exceed $3.75 per share at the close of business on November 14, 2006. A total of 3,037,046 shares were sold in the private placement resulting in a potential liability related to the put options totaling $11,388,923. Energytec is investigating whether it has a basis for claiming the put options are void or voidable on the grounds that Mr. Cole lacked the power and authority to grant the put option, or whether under Nevada law Energytec is required to pay on exercise of the put options if the effect would be to render Energytec unable to pay its debts as they become due in the usual course of business. If Energytec is required to



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honor the put options and a substantial portion of the put options are exercised, it does not have funds available as of the date of this report to make payment. In these circumstances the obligations arising from exercise of the put options would have a material adverse effect on the financial condition of Energytec and could cause Energytec to seek the protection from creditors afforded by filing a petition for relief under the United States Bankruptcy Code, in which case exercises of the put options would likely be set aside as a preference and the holders of the put options relegated to the status of equity owners for purposes of priority of payment through the bankruptcy proceeding. Even if Energytec is able to avoid its obligation to make payment on exercises of the put options, the holders of the put options may pursue claims against Energytec that their investment was induced by material misstatements of fact related to the put options and seek rescission of their investment, which could also have a material adverse effect on the financial condition of Energytec."

it would appear that eytc doesn't intend to honor the puts if they can legally get out of them. since they don't have the money to pay them now i have no idea what will happen. the puts have to be exercised on nov. 15th and they are payable on nov. 30th. i guess we will find out soon how they are going to handle the puts.

[thecybertrader]

Hello my friend!!

Trust me, I don't care about that type of stuff! I don't know what makes them more upset, the fact that I want to talk about alternatives for raising cash, or that I refuse to get in a mud-slinging contest with them?! You are TOTALLY correct, it is not worth the grief to post on RB! Again, I don't blame you one bit!!

My friend, I DO have faith in Don! Remember, he DID find the answer, at least for our immediate problems that is! Unfortunately, there seems to be a minority of folks who want to be bullies and as shareholders we really do need to come together so this minority of folks is no longer dictating the direction of the company!! I am not a WI holder, but from what I can tell, this deal is the only deal on the table, so I can think of only one reason to try and block such a deal, and it's absolutely disgusting!!

So anyway, as I've been TRYING to find out over at RB, but with little luck, is what exactly are the terms for the puts? Are they like the interest that is paid on bonds and "if" the company can't pay them, will the be considered "in default"?? Or, does the company have at least SOME "wiggle room" before that have to pay? Don't get me wrong, I don't want the put holders to lose ANY money, I'm just wondering if they can delay the payments, for say a month or so? Just enough time to either calm down the Wyoming buyer by proving there are far more folks in favor of the deal than oppose it, OR giving them time to sell one of the other assets??

Anyway, let's just pray Don has some tricks up his sleeve to keep this thing aflost!!

Again, really nice to be here!! Take care!!

Stay healthy,

~Cyber
Yes, the above is only my opinion!!!

[oldundrtkr]

Cyber
ragepatito & golver are not worth worrying about. anybody that disagrees with them gets blasted. i agree with you about selling something else since wy is dead for now. i was going to post this on rb but it is not worth the grief. i have no idea how they are going to handle the puts. i own 10,000 shares with the put option and i would be thrilled to just get back my original investment. i wrote a letter to don lambert to see what their plan was for the puts but never received a reply. since i didn't get a reply i am going to send in the paperwork to exercise the put option. it is probably the only chance i have of getting any money out of this investment. i'd like to think better days are ahead but this just gives me a bad feeling on what is ahead. sure hope i am wrong. don lambert may turn this around but his lack of communication sure does not instill any confidence in me.

[thecybertrader]

Hey Joyce and old,

Hey you two, hope you are doing well!! Joyce, totally agree with you about the other site! I tried asking a simple question and have waisted more time on stupid posts! Heck, I'm upset I've let myself spend so much time arguing over there!

Need shooter to head over here, if we could do that, I would remove the "bookmark" I have for the EYTC/RagingBull site completely!!

Anyway, let's hope Don and co. have something up their sleeve to handle the puts coming due? I may be wrong, but I just don't know how they can survive this without selling something? I guess we will know soon aye??

Luck to us all!!

Stay healthy,

~Cyber
Just my opinion, as always....

[oldundrtkr]

well nothing has changed on rb as the same vitriolic posts are flying again today. you are not missing anything at all.

[joyceful59]

I came over here to get away from the drivel on the RB board.
Sorry I ever told anyone to post on that board. I miss the decent sane people that board was famous for. That is why I left Yahoo, constant attacks with no proof or information. you won't be seeing me there any longer. If anyone has any thing of worth to post, post it here.
Thank you and good luck, Joyce

[joyceful59]

Fianally good news,

Looks like the patience and belief in the company might just get some of our money back.
The assets are there and need to be sold. I expect to see a rise in share value, soon. I don't want to get ahead of myself, though. There is still plenty of work to be done.
Good luck to all of us, Joyce

[thecybertrader]

FOLKS, WE HAVE A DATE for our next shareholder meeting!!!!

May 10, 2007!!!

I'm going to try to paste the link, but there are others here better than I at this!!!

Try this...

http://yahoo.brand.edgar-online.com/fetchFilingFrameset.aspx?dcn=0001020488-06-000229&Type=HTML

I guess this means, at the very least, this little company plans on being around for a bit??!!!!

This was released early this AM, so I was hoping that we might have some more news coming!!

We haven't had very many good things happen to us as of late, but I'm going to consider this a good thing!!!! Again, at least they are planning on being here for awhile!!

Luck to us all!!

Stay healthy,

~Cyber
As always, ALL of the above is just my humble opinion, nothing more...

[joyceful59]

tr8dervic,
Please go for it. Thanks, Joyce

[joyceful59]

YES!!!!

[infolode]

possibly, there's a large consolidation period from July 18 until Sept.28. This possibly helped some of the technical damage that was preciously incured.

Might see a bottom in a few days.

[johnsnorlax]

any hope for energytec

[infolode]

More insider dumping on this pos:

http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=4416845

[johnsnorlax]

another pink sheet filed, seems the same info is submitted over and over , nothing new, ????

[hockeydoc5]

beyond the filing,

there's been a modicum of speculation, a dash or two of gossip,nothing concrete, and increasing use of the word "hope"

[johnsnorlax]

anything new ?

[johnsnorlax]

seems like a lot of double talk to me

[markrhead]

filing is out. I have not been able to get into RB for months and can't figure out why EYTC investors continue to post there. I am interested in any feedback today so if it is useful, please repost RB posts here. I feel blind on this stock

http://biz.yahoo.com/e/060721/eytc.pk10-k.html

[joyceful59]

Wish I did have any news!
Still waiting on the report.
Good luck, Joyce

[johnsnorlax]

anybody have any new news

[johnsnorlax]

its showing a little life these past 2 days

[sortman]

This does not look good.

PLAINTIFF'S ORIGINAL COMPLAINT Page 11
149901

rules and regulations of the Texas Railroad Commission, and/or was deliberately reckless in so doing.

41. In total, there are 23 wells that are not properly permitted, and for which Mr. Cole improperly included in Energytec’s reserves for 2004. As a direct and proximate result of Mr. Cole’s deliberate and/or reckless acts and omissions, Energytec’s reserves have been substantially overstated by virtue of, among other things, Energytec’s numerous violations of the rules and regulations of the Texas Railroad Commission. In addition, Mr. Cole improperly allowed the commingling of production from permitted and non-permitted reservoirs, and the third-party engineer engaged to prepare Energytec’s reserve report for 2005 is unable to assign reserves to both the permitted and non-permitted reservoir. As a direct and proximate result of Mr. Cole’s deliberate and/or reckless acts and/or omissions, Energytec’s reserves will be substantially understated by virtue of, among other things, Energytec’s numerous violations of the rules and regulations of the Texas Railroad Commission.

42. As a direct and proximate result of Mr. Cole’s actions and/or omissions in the Talco/Trix-Liz Field, leases were severed by the Texas Railroad Commission, resulting in a loss of income to the Company and its working interest owners and the compliance issues involving the Company’s properties were brought to a critical point, costing the Company millions of dollars in regulatory compliance costs and expenses. On the dually completed wells, Energytec was permitted to produce only from the D zone. Mr. Cole, however, dually completed these wells in the A and B zones in various wells through out this field without filing one permit, which means that the company did not have a conclusive formation test on the A and B zones. The impact to the reserves is two-fold: (i) Energytec cannot count the reserves in 2005 associated with

[johnsnorlax]

new filing on pinksheets.com , dont know if its good or bad news

[joyceful59]

Not a thing!

Should be some news soon,I would expect.
Luck to you guys, Joyce (and me)

[johnsnorlax]

anybody know anything new

[markrhead]

go to pinksheets.com, enter EYTC, click on filings in upper right and read the whole 8K. Some read it as good that we are fighting back by sueing them but I see it languishing for a while

[johnsnorlax]

does anybody have any details about these people or what they did to the company , a link to public court records would help, thanks, john

[markrhead]

15-May-2006

Financial Statements and Exhibits



Item 9.01 Financial Statements and Exhibits
On May 12, 2006, Energytec, Inc., filed a complaint against the following persons:

Philip M. Proctor G. Norman Munro


Raymond J. Vula Alice G. Vula
John J. Petito Melvin R. Seligsohn
Sam Miller Corinne I. Weseloh
Paul A. Aberbach,




in the United States District Court, Northern District Of Texas, Case No. 3-06 CV-871-L. A copy of the complaint is included with this report as Exhibit No. 99.1.

[joyceful59]

I don't think it will

I have been wrong before, though.
Good luck, Joyce

[johnsnorlax]

does anybody think energytec is going to go chapter 11

[markrhead]

yes but I guess it depends on your entry price

[johnsnorlax]

does anybody think wewill see any return on our investments

[markrhead]

I do not see any point in having Heather Anderson being paid for public relations when there is none!!!!!!!
Don Lambert will not talk to shareholders. I understand about a quite period by lawyers until the investigation is over, but that has nothing to do with the general operations of the company. They are being very tight with info so shareholders are in the dark right now. I can't wait until a shareholders meeting to cull the herd. We own the company and they serve at the pleasure of shareholders. Need to change the board and management......

[johnsnorlax]

does anybody have any new info on energytec , or its project in big horn , thanks in advance for any info

[iowafarmboy01]

New to this board, getting a little tired of certain people on Raging Bull board.

From what I see on this site there it is more technical. With that said I could use some help. I have been in Energytec since 2000 and have developed various estimations of what Energytec is worth per share...I could definitely use some help defining it more. Now I am down to determining the various projects worth...

Sulphur Bluff ~proven reserves * $15 * % owned by Stock Holders
Trix Liz ~proven reserves * $15 * % owned by Stock Holders
East Texas? ~proven reserves * $15 * % owned by Stock Holders
Redwater ~proven reserves * $15 * % owned by Stock Holders
Commanche ~$30M
Gas Pipeline ~$65M
Gas Fields ~?
Wyoming Big Horn ~$250M * 44% StockHolders share
(Note: Wyoming originally estimated 350mil bbls * $4/bbl in grd)

Take all of these and divide by the 67M shares and I truly believe we are at least worth $4.5-6.0.

Can anyone help me validate or bring more realistic numbers to view?

It would be greatly appreciated.

iowafarmboy01

[listener]

OT: RBAN $1.5/sh in same region 800M barrels reserve!


Article for Reibanc Usa Inc (OTHER OTC:RBAN) 4:33 PM

Reibanc USA, Inc. Acquires Flair Petroleum, With Over 800 Million Barrels of Reserves in the Uinta Basin
MONDAY, APRIL 17, 2006 4:33 PM
- Market Wire

http://bigcharts.marketwatch.com/news/articles.asp?guid={8379187C-3296-439F-8F61-5E7074B133D9}&n...

[JohnnyJ]

EYTC 1MM to $1.00

[WOODSCHOO]

what happened no news release?

[JohnnyJ]

EYTC - Sweet - .94 New HOD going into close

[JohnnyJ]

EYTC .90!!! New HOD 2:52pm

[JohnnyJ]

Looks like EYTC is getting ready to go for .90! It's going to be wild if it hits $1.00 today.

[WOODSCHOO]

50% profit in 8 days GO EYTC

[WOODSCHOO]

eytc R nm EYTC 0.86 0.85 0.87 0.20 0.85 0.74 584,070 OTC Buy Sell



truly a great day

[joyceful59]

Good to see other people here!

I am not posting much (waiting) for news. As we all are. Wish we could get newbie over here, he makes me feel a whole lot better.
Good luck to all, Joyce

[WOODSCHOO]

thanx

[oldundrtkr]

woodschoo

you might want to check the raging bull board for energytec as there are more posters there.

[WOODSCHOO]

okay gang im in

[oldundrtkr]

Hockeydoc
i couldn't agree with you more. it seems as though rage has left the rb board and that is a good thing imo. i apologize for getting in to it with rage all the time but i don't tolerate arrogant delusional idiots for long. i have always appreciated your posts on rb and hope you will come back. i hope in time we will find out the assets are what we thought they were and that the current management can get us headed in the right direction. it is going to be hard to have to wait for the next few weeks before we get any information from the company on the investigations.

gla