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Here we go...the move is way outside the band.
I love your enthusiasm! I'm not quite so positive as you but I am happy to see it rising so far and I totally hope you're right! At one point this past Friday it was up 2000% over Wednesday's close (.001 to .02) before retracing slightly and closing at .011, still a 1100% gain!
The reason for the current rise in pps is detailed in two pr's from last Wednesday; one for FLWE, the other for CPRK - I've posted both below:
Fellows Energy Signs Agreement to Finance Geothermal Projects
Jan 14, 2009 17:28:00 (ET)
BROOMFIELD, Colo., Jan 14, 2009 (BUSINESS WIRE) -- Fellows Energy Ltd. (FLWE, Trade ) ("Fellows"), further to its press release of November 25, 2008, is pleased to announce that it has entered into an agreement with Copper King Mining Corporation (CPRK.PK) ("Copper King") to finance the Valle del Cura and Tuzgle-Tocomar advanced geothermal projects in the Andes Region of Argentina, recently acquired from Geothermia Andina, SA, a private Argentine entity. The agreement also calls for the financing of two additional projects now being negotiated by Fellows in connection with its acquisition of Grupo Minero Aconcagua SA (GMA), a private Argentine company in advanced stages of negotiation to acquire rights to geothermal and wind energy projects in central and southern Argentina.
The agreement provides for the acquisition from Fellows of a 50% interest in the projects by providing or arranging for financing for the first three years of feasibility and development expenditures and project payments. Copper King has stated that it plans to provide or arrange the funding through a combination of third party investors and from the cash flow expected to be generated from the operation of its copper-gold-silver-magnetite mill now in the final stages of construction and start-up near Milford, Utah.
The Valle Del Cura and the Tuzgle-Tocomar projects are each entering the pre-feasibility stage and host an estimated combined 300 MW of electric power generating potential. Fellows has targeted a third project in Argentina which has been the subject of a feasibility study covering the first 30 MW of an estimated 100 MW of generating potential. The three projects combined would host an estimated 400 MW of potential. The Company is also working toward the completion of its acquisition of GMA, which will bring additional geothermal and wind energy projects to the Company's mix.
It is expected that the financing being arranged by Copper King will substantially move the projects through the feasibility stage and potentially place them into a position to obtain bank or other project financing. In addition, it will allow Fellows time to strengthen its balance sheet and restructure its capital, while minimizing the need for ongoing working capital funding. The Company has already commenced the technical analyses and evaluations to begin to move forward with the projects.
In spite of the current conditions in the financial markets in general, the Company believes that a number of financial incentives and an emerging, favorable market and attractive financing terms for geothermal, wind and other alternative energy projects will provide a solid basis to move forward. In addition to the revenue associated with generating power, it is also expected that the projects will qualify for carbon bonds and national premiums that will further enhance the cash flow potential of the projects. Although the Company is now actively refocusing its efforts to take advantage of the alternative energy segment of the industry, it also continues in its efforts to obtain joint venture financing on its oil and gas exploration projects in the western United States.
"The signing of an agreement for a financial commitment for these projects and the opportunity to collaborate with Copper King, a company just now entering into significant cash flow from its production, will help to bring the Company to a new level and allow us to build substantial value," said Fellows CEO, George Young. "We look forward with enthusiasm to working with Copper King and advancing rapidly with the feasibility and development of the projects and acquiring the additional projects now under negotiation."
About Fellows Energy
Fellows is an early stage oil and gas company with emphasis in the Rocky Mountain Region using traditional and new technologies, and is also now focused on acquisitions in the alternative energy market. 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: Fellows Energy Ltd.
Fellows Energy Ltd.
George S. Young, 303-926-4415
or
Investor & Public Relations
Charles A. Moskowitz, 781-826-8882
cm@focuspartners.com
http://www.tradingmarkets.com/.site/news/Stock%20News/2126647/
Copper King Signs Agreement to Finance Geothermal Projects
Wednesday January 14, 7:00 am ET
MILFORD, Utah--(BUSINESS WIRE)--Copper King Mining Corporation (Pink Sheets:CPRK), an ore mining, processing, and exploration company located in Southern Utah, today announced that it has entered into an agreement with Fellows Energy Ltd (Fellows) to finance the Valle del Cura and Tuzgle-Tocomar advanced geothermal projects in the Andes Region of Argentina, recently acquired from Geothermia Andina, SA, a private Argentine entity.
The agreement also calls for the financing of two additional projects now being negotiated by Fellows in connection with its acquisition of Grupo Minero Aconcagua SA (GMA), a private Argentine company in advanced stages of negotiation to acquire rights to geothermal and wind energy projects in central and southern Argentina.
The agreement provides for the Copper King’s acquisition from Fellows of a 50% interest in the projects by providing or arranging for financing for the first three years of feasibility and development expenditures and payments on the projects. Copper King plans to provide or arrange the funding through a combination of third party investors and from the cash flow expected to be generated from its copper-gold-silver-magnetite mill operations, now in the final stages of construction and start-up near Milford, Utah.
The Valle Del Cura and the Tuzgle-Tocomar projects are each entering the pre-feasibility stage and host an estimated combined 300 MW of electric power generating potential. Fellows has targeted a third project in Argentina, which has been the subject of a feasibility study, covering the first 30 MW of an estimated 100 MW of generating potential. The three projects combined would host an estimated 400 MW of potential. The company is also working toward the completion of its acquisition of GMA, which will bring additional geothermal and wind energy projects to the company.
It is expected that the financing being arranged by Copper King will substantially move the projects through the feasibility stage and potentially place them into a position to obtain bank or other project financing. Copper King and GMA have already commenced the technical analyses and evaluations to begin to move forward with the projects. It is expected that the energy produced from the projects will easily be sold to nearby commercial facilities and otherwise in the national power grid of Argentina, which is currently experiencing shortages. In addition, there are significant incentives offered by the Argentine government, as well as “carbon bonds,” which provide additional benefits for developing the projects. Copper King expects that the expenditures necessary to move the projects forward, relative to the value created by doing so, are minimal, and that the return on the invested funds will be substantial.
“Participating in projects with tremendous potential to build value from our cash flow presents a great opportunity to further build shareholder value,” said Mark Dotson, Copper King’s CEO. “We have structured our transaction to coordinate well with our projected cash flow position, and anticipate being able to leverage the investment to good advantage for our shareholders.”
http://biz.yahoo.com/bw/090114/20090114005431.html?.v=1
Thats what I have been hearing!!! Maybe thats why the stock has been up on high volume the past few days!!! We could see .10-.30 pop!!!! something is up here!!
Has anyone heard whether Fellows has had discussions with Raser Technologies to install geothermal turbines on their new properties. Raser (RZ) has just completed setting up turbines in a geothermal field in Milford, Utah and own quite a number of properties itself. Raser has the capability of installing geothermal turbines in about a years time so it wouldn't take them long to get going if they were doing a joint venture.
Kinda crazy, huh?!!
These stocks never cease to amaze me. CPRK was looking great today then the never ending selling hit again. Meanwhile, the company they are supposedly funding is skyrocketing!?!
I'm glad it's Friday ~
Wow I was watching it on L2, holysmokerdoodles, I was banging the table watching it run, and I did NOT get in. Nice lil pop.
Rock n it here.
It's coming back to earth now almost as fast as it flew upward...008 ask.
FLWE flyin' now...up from .001 on Wednesday - .019 now!!
Nice lil run fer ya, spread is not toooooo bad. Congrats to all the longs here.
Rock on.
Seems to, Roo. It's got a huge spread right now, 007 x 009!
Who woulda thunk it?!
...and yes the maxed AS is a reason to go hmmmmmmm
Lookin good girl, moves easy.
Rock on.
Good Morning, Roo!
Pretty wild and wooly, wouldn't you say? It's up to .003 x .0035 now on larger than average volume.
Tugging a lil harder on the line now. 1 Monkey left @27
Rock on.
Someone is nibbling, lightly.
Rock n it here.
Not in yet, lurkin on this one so far. The maxed out OS is a lil scary and I would think that funding is a wee bit off yet. Looks good for you and DN so far, the best of luck to ya over here, hope it keeps going for ya'll.
Rock on.
Hey Roo....Gosh, long time, no see! I hope all is well with you up there!
I just became the mod here yesterday after reading the similar pr's for CPRK and FLWE. I called the company and left a message but no word yet. I also called the TA and was told 100m AS, 100m OS, and the restricted is 14,071,059. I updated the Ibox to reflect those numbers.
DN and I both bought a few shares yesterday just because the pr seemed to be a good one for FLWE. Are you in too?
I still find the pr a bit unusual though. I also talked to Gavin, the CPRK IR, and he said the funding was not immediate but rather for when CPRK became functional and profitable.
It's great to see you! It's quiet over here, please visit whenever you can~
Hey Ally, OS is maxed huh, hmmmm. Interesting goings on.
Rock on.
Super nice day for this one - FLWE ended the day up 160%!
Not a bad day :)
Hi Willboat!
Wow, what a difference a day makes - Yesterday only 16k traded, today almost half a million! FLWE up 120%.
Makes you go hmmmmmmmmmmm
Interest building .. nice pop today
.0022 up .0012 1/2 mill traded
There doesn't seem to be much interest today, although I see it's had over 1m share days.
Who is currently ceo?
Are they any recent pr's on this company?
Anyone know what the debt is on FLWE?
A great idea. All the stockholders should send them a GET-A-WELL CARD.
Consolidation:
People buying on the cheap.
Its gonna take a while.
So, It FInally Caught Your Eye.
Nice run on your FLWE last week, looking for an entry point myself...GLTY
Was never very good at that !!! NOW NOW NOW. tee hee.
Patience, Patience, Patience.
Once the PPS finds a center from the last spike it goes up I predict.
Problem, What Problem?
That's the problem most people have.
What to buy, how much to buy, when to buy?
With all the market manipulation going on, we just make the best rational decision and go with it.
But, I believe we're onto something here.
Am'still Long & Going Strong.
Go Baby Go!
shes looking good.
Bought into the correction today, lets let her run now.
Still going with this low floater.
This is really looking good. To bad I didn't buy more.
Quarter Sounds Good:
I believe a quarter would be good for starter's.
That would certainly make my day.
Join the club, my average is also too high.
Why, because I started buying way too soon, just like you did.
Gone Long & Holding Strong!
I averaged down on FLWE this a.m. after reading the news. The problem is that I bought around the 30 cents mark after talking to the company about a year ago. Are they going to take this back to the level that they bought out the lenders at. The lenders did a great job of driving this into oblivion.
nice stock here congrat to all..how high u guys think this will go? ;)
finally great news here frat
FLWE NEWS: Restructures Holdings to Refocus Project Development Activities in Two Transactions Valued at $6.5 Million
Market Wire "US Press Releases "
BROOMFIELD, CO -- (MARKETWIRE) -- 06/05/07 -- Fellows Energy Ltd. (OTCBB: FLWE), an early stage oil and gas company focused on exploration and production of natural gas and oil in the Rocky Mountain Region, announced today that it has entered into two transactions with Thunderbird Energy Corp., its joint venture partner, valued at $6.5 million. These include the sale to Thunderbird of its interests in the Carbon County project and joint venturing for further development on the Weston County project.
The sale of the Carbon County interests is expected to close on or before July 15, 2007, for a total sale price of $3.0 million, payable in cash and the assumption of debt. Fellows will retain its interests in the 5,242 acres held in the adjacent Gordon Creek project. Development drilling on the Carbon County project by Thunderbird after closing the sale will be in relative proximity to the Gordon Creek acreage, potentially enhancing its value and serving to promote its ultimate development.
In addition, Thunderbird and Fellows have agreed for the expenditure of funds by Thunderbird for the drilling and completion of three wells to the Dakota formation on the Weston County project, upon its final acquisition of a 50% interest in that project. Fellows estimates that the cost of such drilling will be approximately $3.5 million. Upon the completion of such expenditures within the next 24 months, Thunderbird will receive an additional 25% working interest in the Weston County project. Fellows will reserve the option to commence drilling under the previous joint venture structure if Thunderbird does not commence drilling by May 31, 2008.
Fellows has further negotiated, subject to final documentation and applicable approvals, to redeem the outstanding balance of its floating rate convertible debentures held by Palisades Master Fund, L.P. and Crescent International Ltd. (including those formerly held by JGB Capital L.P.). The redemption will take the form of a cash payment from a portion of the funds derived from the sale of the Carbon County interests, and the conversion of the balance of the debentures at a price of $0.1375, well above the current trading value of the Company's stock. Upon closing, all of the floating rate convertible debentures now owed by Fellows will be fully redeemed.
In addition, Fellows continues its leasing activities on the Bacaroo project in Colorado, and now holds interests in over 16,000 acres in an area delineated by Thomasson Partner Associates, Inc. on the basis of over 4,000 line miles of seismic data. Fellows is currently reviewing further joint venture proposals for the drilling and development of the project with industry partners.
"We are excited to retire the debentures through the sale of some of our interests," said Fellows president, George Young. "Not only does the sale price represent a significant gain over what we paid for those interests a year ago, but it will also strengthen our capital structure, improve our balance sheet by retiring debt, and at the same time provide for the potential development of our properties, including the adjacent Gordon Creek acreage. We now expect to have three quality projects advancing in their development through the expenditures of joint venture partners."
About Fellows Energy Ltd.
Fellows is an early stage oil and gas company led by an experienced management team which is focused on exploration and production of natural gas and oil in the Rocky Mountain Region using both traditional and new technologies. The current strategy is to pursue both short- and long-term opportunities to leverage its large acreage position in the Rockies, which management believes are characterized by reasonable entry costs, favorable economic terms, high reserve potential relative to capital expenditures and the availability of existing technical data. For additional information please go to www.fellowsenergy.com.
Safe Harbor Statement
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. Examples of such forward-looking information would be statements regarding financing, acquisition of properties, and terms including "probable," "possible," or "recoverable" reserves among others. There are many risk factors that could cause our expectations and beliefs 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. 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.
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. Fellows assumes no obligation to update the information contained in this press release.
Contacts
Fellows Energy Ltd.
George S. Young
Shane Reeves
303-926-4415
Investor & Public Relations
Harvey Goralnick/Alison Hart
212-752-9445
You bet! So far, so good.
Hope yours is going well!
Take care,
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