Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I think the officers of Fellows and their CPA firm should be held to account.
The validity of SEC filings is at the heart of the entire American capitalist system. It would be one thing if there were a computational error due to oversight. That would be bad.
But this is just beyond the pale. The officers of this firm claim to have decades of oil/gas industry experience. The CPA firm was, presumably qualified to file reports with the comission. They didn't know that they shouldn't claim revenues that didn't belong to them? What kind of an excuse justifies this kind of conduct?
Oh, I forgot to mention this nugget. When I called the office, George Young wasn't there. It turns out, according to the people in the office, being President of Fellows isn't his only job. He goes other places to work for other people to make money! Didn't everyone kind of assume that drawing a salary of over $100k meant that this company was his full time job and his full time responsibility?
Shouldn't they have disclosed that FLWE is kind of a hobby for George? Shouldn't investors have been told that the company with only 2 officers wasn't being managed by the President on a full time basis?
Since I'm at a loss in this position, an FBI/SEC investigation is in order. I would like to see all companies that cheat investors put in jail. What do you think?IMO
Did you notice that their SEC filings were invalid?
For the first 3 quarters of 2006, FLWE claimed revenues of over $450 thousand. At the end of year, FLWE claimed that revenues for all of 2006 was $420 thousand (or so).
How did they earn less for the year than they filed with the SEC for the first 3 quarters?
I called. Their answer: FLWE claimed 100 percent of the gas revenues even though they only owned half or so.
One more time, They claimed revenues thay that weren't theirs and that they hadn't earned. They did that for 9 months. They filed this with the SEC.
Then at the end of the year, most of the revenues disappear and millions of assets likewise disappear.
Can you say "fraud"?
You people (FLWE) informed me that oil exploration is very technical and the equipment you have makes finding oil more of an exact science. Come on FLWE, where is the oil? I purchased your stock when it was over a dollar and you have not produced.
Could your operations be a "three stooges" type atmosphere where you really don't know where the oil is but your rhetoric about finding oil is more like science fiction.
I don't what to poke fun of your not finding oil, but wow, find some oil even if you have to get help from BP, Shell, or ConocoPhillips. They would know where is oil. Would they?
Sincerely,
It's easy to file a complaint with the SEC.
Fellows has failed to file its end of year results.
If you are tired of the lame excuses from the office,
here's how you file a complaint with the SEC.
1) Go to www.sec.gov
2) At the bottom of the page select 'Contact Us'.
3) Select 'Investor Complaint Center'
4) Select complaints 'online forms'.
5) Select 'Failure to file required reports with the SEC'.
Fill out a few lines of the form.
On April 2, Fellows Energy Ltd. filed a form NT 10-K,
a filing extension.
The filing was due by April 15th. With the weekend, the due date
was April 17th.
Fellows has still not filed. They have been making the
same vague promises all week.
fwiw
QBV
FLWE may fail to file EOY results.
Spoke to Brian at FLWE. He said FLWE might file
its end of year results today but no one was sure.
My Guess at 2006 FLWE Gross Revenues.
$800,000 Gross Revenue.
Revenues for first 3 Quarters of 2006 were $455,000.
They have 4 wells producing. Clearly, average daily
production would be nice to know.
Here's my unsubstantiated guess:
160 mcf per day per well. I think that's a modest target.
$6.00 per mcf. The average price is over $7.00
$960 per well per day
$3,840 per day for all 4 wells.
90 days
$345,000 for the 4th quarter.
Add the $455,000 from the first 3 quarters
Total $800,600.
Any other guesses out there??
End of Year Results - April 15th.
Fellows filed with the SEC to that effect and
the person who answers the phone at Fellows said the
same thing.
The 15th is a Sunday. From my limited experience
with these people, they will file on Monday the 16th
rather than Friday the 13th (also known as 'Fellows
has your money' Day).
Maybe we can get these rascals to make some sort
of comment about production of gas or boe (barrel of
oil equivalent)with these announcements.
It's time for Fellows to walk some of the talk or to
take everybody off the hook and admit that there is
no walk, only talk.
100-77= 23 holded by insiders or shares with some restriction.
Question about the share structure:
If the Authorized Shares is 100mil and the number of shares Outstanding(issued) is 100mil, how can there be 77,360,068 shares in the float? The float should be zero, should it? If the float is correct, there is massive dilution of unregistered stock of an extra 77,360,068 shares.
Information posted on this ihub board:
SHARE STRUCTURE: (as of 2/27/2007)
Authorized Shares: 100,000,000
Outstanding Shares: 100,000,000
Float: 77,360,068
ooo very nice!
derekz put out flwe alert 2 weeks ago hope everybody got sum good job BIG D>>>>
that mean the company will have the money to development the proprties now. it take alot money and company does not have the money. look at price of stock? if they go to loan company to get the money, for every 2 dollars in sales, they loan 1 dollar, for every 3 dollars of asset set, loan and they want stock too.
Could it be a sign?
The website for Fellows.com appears to have been updated.
I say appears because the old update 'date' is gone, there
is no new update 'date' but there is some interesting
information and maps on projects underway.
I would trade info and maps for administrative
tidiness almost any day.
The website looks like it belongs to a company that
may be around for a while.
One of the many benefits of approaching 0 cents per share!
One of the February issues of Forbes had an article on 'naked shorting'. According to the article, each day, some 50 million shares worth of transactions cannot be closed because they represent trades for which there are no actual shares!
The type of debentures that FLWE issued are the preferred vehicle for this kind of illegal trading activity.
How difficult would it be for FLWE to file a complaint with the SEC? What are the odds that the SEC would take any action at all regarding this problem?
If they did something, just once, in reaction to just one of these abused companies, would the problem abate?
Appears to have formed a bottom at 0.035
I do prefer the slow and easy kinds.
Looks Like She's Finally Hit Bottom?
Slow and steady she goes.
I got filled.
Good Question:
Lot's of other folks got filled.
I know, it's irritating when they misplace your order.
Sometimes, they fill it after hours?
http://www.thesubway.com/companydata.asp?qm_page=38898
...Price Size... Exchange...Time
0.036 50000 OBB 15:36:49
0.036 5000 OBB 15:35:56
0.037 5000 OBB 15:35:51
0.035 5000 OBB 15:35:44
0.035 30000 OBB 15:34:05
0.035 27000 OBB 15:31:49
0.036 50000 OBB 14:59:53
0.036 5000 OBB 14:56:32
0.035 20000 OBB 14:55:49
0.035 10000 OBB 14:53:37
0.035 5000 OBB 14:51:46
0.035 4800 OBB 14:46:47
0.035 50000 OBB 14:46:07
0.035 5000 OBB 14:45:50
0.035 200 OBB 14:44:09
0.035 15000 OBB 14:34:57
0.035 5000 OBB 14:34:28
0.035 25000 OBB 14:33:56
0.035 5000 OBB 14:32:40
0.035 5000 OBB 14:32:40
0.035 20000 OBB 14:32:31
0.035 10000 OBB 14:25:08
0.035 2250 OBB 14:24:40
0.035 50000 OBB 14:22:10
0.035 5000 OBB 14:22:03
0.035 15000 OBB 14:21:58
0.037 75000 OBB 13:50:13
0.037 25000 OBB 13:22:56
0.036 25000 OBB 13:22:52
0.035 25000 OBB 13:22:28
I also noticed your from Texas, here's one for you.
There's 3 Joker's from Texas:
GOOD
In Richardson, Texas State Trooper was running radar. He had a perfect spot to watch for speeders, but wasn't getting any. Then he discovered the problem. A 12 year old boy was standing up the road with a hand painted sign which read "RADAR TRAP AHEAD!"
The officer later found a young accomplice down the road with a sign reading, "TIPS" and a bucket full of money. (And we used to just sell lemonade!)
BETTER
A motorist was mailed a picture of his car speeding through an automated radar post in Plano, Texas. A $40 speeding ticket was included. Being cute, he sent the police department a picture of $40. The police responded with another mailed photo of handcuffs.
BEST
A young woman was pulled over in Austin, Texas for speeding. As the TX State Trooper walked to her car wind ow, flipping open his ticket book, she said, "I bet you are going to sell me a ticket to the Texas State Police Ball." He replied, "Texas State Troopers don't have balls." There was a moment of silence while she smiled and he realized what he'd just said. He then closed his book, got back in his patrol car and left. She was laughing too hard to start her car.
Hook'em Horns!
I have had a bid in all day at 0.035 and has not filled and does not show up on the L2.... L2 is showing bid now at 0.034. Whats up with this?
Or date of the funeral for that matter.
I called Fellowes. I spoke with Wendy. George was not in.
Here's what I learned:
Wendy says she had not heard anything about the stock being down to 4 cents a share on over 3 million shares of volume.
Wendy says that people are not calling in to find out what is going on. In the background, the phones are ringing. I've called in before and I don't recall so many other calls coming in.
Wendy says she is not aware of any information that would cause this move.
Wendy says earnings for 2006 will not be out till April 15th (approximately).
Theoretically, the market value of this company is about equal to two drilling rigs.
Just another day in the paradise that is Colorado...
From Beach 4400 on a different message board:
This is the message I recieved this morning from George confirming the partnerships. Does that make the company worth less as they now have less rights or property? Anyone have answers how these sales impact the value of the stock? It looks like the sales were from another JMG not from Fellowes.
David: THunderbird purchased the 50% interest in those two project that JMG had, and is now our pratner on them as well on what we call "carbon County".. They are now our 50% partner on the three projects.
From PDQ1951 on another message board:
help from any holder-beach, farky, others:
I just noticed Thunderbird Energy (TBD.V), FLWEs partner in the Utah Carbon County project, announced on March 5 the purchase of a 50% interest in a 5000 acre property near the Carbon Creek project. This property is nearly identical in size to the FLWE Gordon Creek project; does anyone know if it is one and the same. In the same PR, TBD.V announced a 50% interest purchase of 19,000 acres in the Weston County project in Wyoming. Coincidentally, Fellows has a 19,200 acre project in Weston County, Wyoming. I believe it is likely that TBD.V has purchased from FLWE interests in these two projects. I hope so, it would provide capital for FLWE exploration drilling this year. The working interest purchases by Thunderbird were in cash. Also, I believe George is still on the Board of Director of Thunderbird. Any thoughts or comments.
The Thunderbird PR can be accessed on Yahoo finance under TBD.V
As for achievements, you'll have to look at the PR's and/or call the company for additional information.
As for 4Q results........soon(I think).
As for self-sustaining in 07.........the company seems to realize shareholders are interested in production & revenues vs potential alone, so I think we'll see progress on this front.
My suggestion to you is to ask some of these questions directly of management. They seem willing to field shareholder questions and investor relations and transfer agents are not "gagged" like they are with some companies.
GLTY.
FB72,
Can you share some of flwe's achievements for the year?
(I mean besides the ones that had press releases)
Also, any idea when they might post 4Q results and
whether they intend to become self sustaining in 07?
Anything you wish to share will be of interest.
Thank You
QBV
We're in the same boat together and agree this is a great company. That's a given.
Not worried a bit, just need to sit tight till management does there job.
The rest will take care of itself.
At these cheap prices who wouldn't want to jump on board?
Ask starting to get tagged this afternoon.........nice to see the "recovery efforts" underway
Don't blame you, Hilander. Very good company here with high aspirations.
My overall share price is 4 times the current share price but believe FLWE to be a great stock and will hold till it reaches the dollar+ mark again.
100M O/S is peanuts and the 77M float is the reason that this one moves so quickly.............
100M shares outstanding is relatively low, I like that!
Right On, Never sell at a loss!
100M shares O/S = market cap of $7M right now at .07/share...........
Spoke with the CEO (George Young) today for 15+ minutes. Very polite individual with a lot of high aspirations and goals for Fellows Energy going forward. He answered many of my questions as to the future direction of Fellows and some of the hurdles they've overcome and need to overcome in order to reach those goals.
I'm holding on to my shares for now and am willing to weather this short-term little blip.................
Don't get shook on this LOW VOLUME shake here. VFIN's just flexing their muscles a little bit here. Down on practically air (5k shares here, 10k shares there, etc).........
LOL. What's going on, futr? From the BIGN board, my friend! As for what's going on with this company, this PR from November sums it up beautifully (except now the reserves are over 10B, up from the 7+B in this PR):
Fellows Successfully Completes Workover Operations at the Carbon County Project
Proven Reserves Estimated Over 7BCF
Fellows Energy Ltd. (OTCBB: FLWE) ("Fellows"), an oil and gas company focused on exploration and production of natural gas and oil in the Rocky Mountain Region, announced today that the Company, along with its 50% joint venture partner Thunderbird Resource Corp, has successfully completed a substantial portion of the second phase of its workover operations on its Carbon County project. Fellows' preliminary work on the GCS 1A-18-14-8 and the GCS 1-19-14-8 wells, which began in early May and continued through early July, doubled production from approximately 20 million cubic feet per month at the time of the acquisition in March to 40 million cubic feet per month beginning in July. With this second phase of workovers now nearly completed, it is estimated that field production could increase in excess of 60 million cubic feet per month.
As a result of the success of the workovers and the consistency of the production achieved since Fellows assumed operations in March 2006, preliminary reserve report estimates by the independent engineering firm of MHA & Associates have assigned a total of 7.46 billion cubic feet of gas to proven reserve categories. Proven reserves are made up of PDP (proven developed producing), PDNP (proven developed non-producing) and PUD (proven undeveloped) categories. This represents more than a 250% increase over the reserves in the proven category at the time of the acquisition of the project in March 2006. Proven reserves plus probable and possible reserves are estimated to be in excess of 20 billion cubic feet.
The second phase of the workovers consisted primarily of making permanent the modifications and work on the rods, pump and tubing previously performed on the GCS 1-19-14-8 well, as well as treatment of the upper water zones to block water entry, lowering bridge plugs to allow production from the lower gas zones, and lowering pumps to enable more effective water removal in three of the existing producing wells. The water shutoff treatment and other work on the GCS 1-19-14-8 well were successful, and water production from the well has been slowed considerably. Gas production from the well has increased to five times previous levels, and the recently-completed work has maintained those levels. Fellows has operated the wells consistently, with the exception of occasional mechanical difficulties relating to the inadequate equipment sizing and engineering design of the wells as originally installed by the previous operator, demonstrating their reliability and capacity at the higher production level, and elevating the reserves to the proven category, as stated above.
A portion of the second phase of the workovers remains to be completed, namely the removal of the bridge plug in the GCS 1-19-14-8 well, and the addition of supplemental water treatment facilities to increase productivity through water reduction. Following the completion of the workovers, Fellows plans to mobilize the recently sourced drilling rig previously working on the Drunkards Wash project to drill and complete two new wells now being permitted on project acreage for a total of six producing wells. Although Fellows submitted all required information to the regulatory agencies necessary to obtain final permit approval for the next two wells, regulatory delays in processing the permits were incurred when the Utah Department of Wildlife Resources made a last-minute request to relocate access corridors to help protect habitat. This delay has necessitated postponing the drilling of the new wells until Spring 2007. Production from the new wells is expected to add an additional 60 million cubic feet per month to production, for a total field production at that time of 120 million. Up to an additional 18 new well sites on 160-acre spacing will be evaluated for later drilling following the completion of the two planned wells.
The Carbon County project comprises 5,953 gross acres (4,879 net to Fellows and joint venture partners) with production derived from the Ferron sandstone, the same formation from which the adjoining Drunkards Wash field operated by Conoco/Phillips derives its production. The project also includes an associated gas gathering system and a six mile pipeline and compression facility. Gas is marketed into the transmission pipeline operated by Questar Gas Resources, which crosses the project acreage.
Sproule & Associates of Denver, Colorado (some of whose personnel are now are associated with MHA) completed a "Reserve and Economic Evaluation" of the project in October 2005. Sproule reported that production from the four currently producing wells could be significantly enhanced through operating improvements and that the four shut-in wells could also have potential to be brought into profitable production, similar to those at the adjacent Drunkards Wash field. MHA also concluded that the acreage contains potential for up to an additional 20 wells on 160-acre spacing. Fellows owns rights to adjacent acreage, covering in excess of an additional 5,000 acres, which it believes will also have similar potential.
"We are pleased to have such a substantial increase in proven reserves as a result of our consistent operations," said George Young, President of Fellows Energy. "Although we are disappointed with the permit delays for the new wells, the valuation that comes with the increased level of proven reserves will help us in our capital formation to restructure our balance sheet. With ongoing consistency in our operations over the winter and new drilling in the spring, we expect to increase cash flow and prove up the $65 million valuation determined in the MHA report."
About Fellows Energy Ltd.
Fellows an early stage oil and gas company led by an experienced management team focused on exploration and production of natural gas and oil in the Rocky Mountain Region using traditional and new technologies. For additional information please go to www.fellowsenergy.com.
Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission ("SEC") permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this press release, such as probable, possible and potential, that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-KSB, File No. 0-33321, available from us at 370 Interlocken Boulevard, Suite 400 Broomfield, Colorado 80021. You can also obtain this form from the SEC by calling 1-800-SEC-0330.
Examples of such disclosures would be statements regarding "probable," "possible," or "recoverable" reserves among others.
Management hopes these transactions will bring additional value to the shareholders of Fellows Energy. There is no guarantee that the projects that Fellows has recently acquired will increase the value of its shares of common stock, or that Fellows will acquire rights to explore and operate any other such projects, or that in the event that it acquires rights to explore and operate other such projects, that these actions will be successful or increase the value of Fellows' common stock.
This press release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. There are many factors that could cause our expectations and beliefs about our plans to acquire additional exploration or production properties, our plans to drill or our drilling results to fail to materialize: competition for new acquisitions; availability of capital; unfavorable geologic conditions; the complexity of coal bed methane exploration and production; and prevailing prices for natural gas and general regional economic conditions. Fellows assumes no obligation to update the information contained in this press release.
Source: Market Wire (November 21, 2006 - 11:22 AM EST)
News by QuoteMedia
www.quotemedia.com
Hello frat...Haven't I seen you elsewhere?...What might have this company accomplished recently,and what might be in the pipe?
tia
futrcash
Followers
|
10
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
323
|
Created
|
12/31/04
|
Type
|
Free
|
Moderators |
Energy Prices:
http://www.bloomberg.com/energy/
Natural Gas Futures:
http://quotes.ino.com/exchanges/?r=NYMEX_NG
Affiliated Markets
We Watch, We Wait, We Learn.
Do your own due diligence.
Only you can decide when to Buy, Sell, or Hold.
SOME GENERAL BOARD GUIDELINES:
* Please keep in mind that this is a stock specific board and is limited to discussions relating to FLWE only.
* No profanity/vulgarity
* For more info, Investors Hub Terms of Use
http://www.investorshub.com/boards/complex_terms.asp
All posts on this board are only the poster's opinion and not a recommendation to buy or sell the stock.
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |