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He actually has it in writing this time. lol
Agreed, there is no interest in building shareholder value. P&D diluting scam. PERIOD. That little stunt with the prefered shares is very telling.
No attorney is going to touch it unless Renfro assets can be found. The only assets not accounted for are his drilling rig and transport barge. He either has them well hid or they're already sold.
LOL, we've heard that before!!! Sure he's the CEO for REAL this time! Joke, bro..
I would sue Renfro in a heart beat given the opportunity.
Surprise !!! Renfro is now CEO of FXPT. I assume you'll be waiting for that bounce off .001 ?
Careful, that logic in stocks will kill your portfolio!
Lower and lower is where FXPT is headed. IMO, Renfro is not to be trusted and neither is the CEO of FXPT. They both have colorful past histories. CE.. But, FXPT is good for an occassional flip. Def not a long term hold....no penny stock is...I learned my lesson in BRZL scam. FXPT repeat BRZL.
One always has to be careful playing penny stocks. I did well with this one. But obv now more cautious.
Renfro still has value imo, so there's a future here.
As for Renfro's ex followers, I'd guess there's more ex Admiral followers here than Renfro followers. you had more pull than he ever did in terms of this board.
If 30k is done in damages then it's not a good deal.
If I find myself working for free, again, it's not a good.
If it detracts me from my regular work, not a good deal.
If it endangers my current or long term goals, the answer is "No Deal".
I could come up with many reasons why what looks like a profit is a "No Deal".
As far as playing FXPT like a penny stock ?
I'm sure a lot of Jim's ex followers are playing FXPT like a penny stock with a real vengeance. Like penny stock plays, there should be a decent bounce off .005. But the ultimate bounce will be off .001 . Each time they play FXPT like a penny stock, that PPS is going to go lower and lower.
A few weeks ago it was noted that FXPT changed the share structure to bring down the OS to 525 million from 1.6 billion shares. People seemed to think that was a good thing, but I don't think anyone read into the details of what FXPT did. They issued 60 million preferred shares to Lieberman, which converts to common shares at a rate of 20-1, or 1.2 billion. So right now they have 2.4 billion shares that are authorized at their disposal. I wonder what they could do with all those shares??
Renfro still has value. Admiral knows that better than anyone else as he backed him for longer than turning against him.
I was posing a question to him, not a position.
As for as "plays" and penny plays, I think you've learned by now that penny plays are not long term investments.
Oh, and Renfro didn't do any to the last one, Sam did. The last one is at its lowest point ever and that was after Renfro left. Sam is in charge of that one. Fox will be just fine
OK, so now you say FXPT and Renfro's wells aren't worth anything, and you just want people to play the P&D? What happened to all the promise you said FXPT had? Renfro was going to come in and good things were going to happen. Now that the pps keeps on going down, just like the last stock he had his name attached to, you tell us to play it like pennies should be played?
And yet in the same post you continue to back Renfro as if he has nothing to do with this. The only people that are going to make money at this point are the ones diluting shares. Everyone else is playing against a stacked deck.
Let's just say you had one of your homes sitting there doing nothing. It's worth, oh 5k. And someone offered you 20k to use your home and you're good name as a place holder. Not a bad deal. Right?
Maybe we should just toss in the towel and move on...
Or maybe we play this like all pennys should be played...
I think you're right ! He has to maintain a pps of .01 ? Wow
This deal will never happen. imho lol
At .001 he only gets paid 20k for being CEO ? Someone doesn't put much value in JR.
It's simple math. Divide 300k by the number of shares issued.
Wooo, that would be enough to cover the debts owed by Renfro Energy, if he sells. I didn't catch that it was 2 different issues of shares. Do we have a lenght of time he has to serve as President and CEO ?
Then there's always those judgements against Petroleum Capital.
It doesn't. I was thinking that 30 million X .01 gives you the $300k that Renfro was looking for and the decimal was in the wrong spot.
Other than that I cannot answer your question.
But where does it say this...
Well it isn't word for word that way, but it is laid out in the amended 10Q.
Actually, he has an even better deal than that. Looks like he can retain his "assets" and walk away with 20 million shares
Admiral, where is this information found?
Ouch, that is pretty sad actually.
JR has to keep the pps above .001 in order to collect his 300k for Renfro Energy. Otherwise he walks with RE and all the debts. Headed for that .001 mark pretty fast !
FXPT became cheap, it will not be for long soon we will see 0.025
I think there is for sure some opportunity here for some swing trades...my opinion of course but they may have something.
Ask your friends about the dilution and why it appears the creditors of the company are dumping shares on the open market....
Take a look at that downward cliff that just formed on the accum/dist study...there's been heavy dilution ever since aug 2011, same time JR joined the company...Im sure thats just a coincidence...
FXPT will fly no question i know someone bought for $14k at 0.0103 and i know someone bought for 0.0101 for $7k this guys would not not buy if there is no potential there
Very nice chruning today.
The StochRSI is an indicator of the RSI indicator.
If RSI is on its high for the period (14), then StochRSI is at 1.
If RSI is on its low for the period (14), then StochRSI is at 0.
And all points in between. IE, if the RSI is at the mid point of the period (14), then StochRSI is at .5.
It's nothing more than can already be seen just by looking at the RSI except that it gives you quick look at where the 'RSI' is relative to time.
Quite simply it's an indicator of an indicator.
Ah yes. An example of how chart parameters can be chosen to make a stock look different. The regular RSI makes FXPT look DEAD. That little 5 mil surge yesterday was just drift. Either way, neither RSI looks good.
Thanks for clearing that up. The RSI and MACD are my favorite chart parameters.
If FXPT were forming a pincher, then I'd consider buying shares.
WOW ...What's wrong with that RSI ? It's hit 1.00 so many times the pps should be at .50 .
It maxes 1 day then drops to 0 the next. That's like a sick dog that gorges one day, then vomits the next day.
That chart sure makes Dec look like a dilutive month.
Why is that candle stick for yesterday black with an extremely high volume ?
Were people selling for less than what they paid ?
Were people just running from FXPT ?
or
Was that DILUTION ?
Thanks for the chart.
J R lost his support when his lies and deceptions became clear. What kind of game is he playing now ?
First it's a cash only deal worth a fraction of the price he was trying to take the shareholders of Brazos for. Now it's a share only deal with value based on what pps he can maintain on FXPT.
If the pps can't be maintained above .001, then he just walks away with his great assets.
If Foxy isn't willing to give him the 300k as already PR'd , then obviously Foxy doesn't think Renfro Energy is worth 300k.
Of course the audit did clearly show Renfro Energy owed more to creditors than the assets were worth.
We can talk facts, what assets does this company actually have today?? how much revenue?? how much cash in the bank??
How much is it going to cost to rework the CPSBL?? You talk to your buddy JR all the time, Im sure you can give us an answer...On the website before it was taken down (*BRZL), the estimate was over 1 million at that time I believe, maybe someone here with a snapshot of that info can post it...
Where is that money going to come from??
Name one company William Lieberman has been a part of that has not been diluted into oblivion (by the creditors - convertible notes-debentures) and run into the ground...
You can sugar coat and pump this stock all day long....in the long run we both know where its going....
This one looks to be in the process of being front-loaded. Does anyone have access to L2s? I just wonder the ratio of buys to sells the past 2 days. I think I'm back in tomorrow...provided it doesn't run first. I'm holding some .027 bags, LOL.
FXPT, is nothing more than a p/d share printing machine, never worth anything, and never will be....
It was JR's job to perform the audit for Renfro Energy LLC not Sam's over at $BRZL, JR never got it done...now we all know why....its worthless...how much money has to be invested in that pos to rework it??? ....1 Million ++++????....where's the money going to come from???
These folks are doing nothng but pumping hopes, dreams, air, and dilution....the only winners are company insiders, the creditors and a few flippers who get out quick enough.....good luck to anyone playing this pos, you need it....as always JMHO....GLTA
having data and fully understanding what it means and why are completely unrelated. Carelessly throwing out data without the proper context can do even more damage. It's a catch 22. Also, the pump was long over by the time I knew anything that meant the potential end to the deal.
As far as an audit is concerned, it doesn't matter what might have happened in another deal. The audit conducted by FXPT is what matters, and the results are poor. More debt than actual value. I'm sorry you don't see the value in informing people about verifiable data that can be looked up in their filings.
You and I both know Sam never proved an audit. We don't know one was conducted. The audit was done after Renfro resigned from Brazos.
You kept quiet with your information for a long time. You could have helped if you were worried about people getting caught up in a pump. In the end, that's all people were doing at Brazos. you're right there in the middle of it.
So, enjoy this run or sit back and stop complaining about it. Either way, its going to happen.
Two big differences.
1. The Company purchasing JR's assests was a clean shell. FXPT is riddled with debt.
2. Everyone thought that JR had wells with great potential. The audit proved that the value is very small compared to the debt of FXPT.
I'm sure that their promotions will allow people to trade this one for a profit, but ultimately the dilution necessary to pay the debt is going to kill any longtime holders.
You or anyone else has yet to see JR pump any stock.
You were big on Brazos and posted alot of positive things about Renfro there for a few months. It's those types of posters that will help Fox. JR won't do any of that
FXPT train starting to run...
leaving the station
It sure is. Calm before the storm? Can't wait until we see a huge breakout.
Foxy moving now...
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About Fox Petroleum | Company Background Renfro Energy is a Dallas, Texas based limited liability company formed in March, 2002 as an asset holding company to house existing oil and gas assets located in Texas and Oklahoma and for acquisitions identified in Louisiana. Since 1995, Renfro Energy and its predecessor company have bought and sold over $6 million of oil and gas properties through approximately fifteen acquisitions. Renfro Energy recently sold one of its two major assets located in Cameron Parish, Louisiana, the Cameron Meadows Land Company Lease. This property was purchased in May, 2002 and sold in March, 2010 for over 10 times its acquisition price. It was comprised of 640 acres with 15 producing and shut-in wells and one salt water disposal well. When sold, it was producing 60 bopd from eight producing wells. Renfro Energy's current asset is the Cameron Parish School Board Lease.This property is comprised of 880 acres, has two oil wells, one shut-in gas well, and one salt ater disposal well. The property is capable of producing 15-20 bopd. This property has significant oil and gas reserves remaining for development and exploration. These reserves include: 1) one well with significant oil reserves behind pipe; 2) two proved undeveloped locations; and 3) two exploration prospects. The success of the exploration program could enable the drilling of an additional 10-30 wells. |
ManagementJames Renfro | |
Our Projects | |
Cameron Parish School Board LeaseLocated on the northern flank of the Cameron Meadows Salt, 43 wells have also been drilled on this lease. Producing formations range in depths from 1350' to 5273'. The enlarged section of land comprising 880 acres was active from the 1930's until 1991 when all remaining wells were plugged and abandoned and the lease returned to the landowner. Subsequently, two new wells were drilled; CPSB #2 in 1993 and CPSB #1 in 1998. Both wells were eventually shut-in by 2000 and the lease returned to the landowner. Cumulative oil production is over 6 million barrels. In 2003, RE obtained a new lease on the property and began operations to return the two shut-in wells to production. CPSB #2 is capable of making 12-15 bopd while the CPSB #1 was initially a gas well but upon depletion was shut-in awaiting future utilization. CPSB #3 (a re-entry of the plugged Well #37) was completed in 2004 and utilized as a saltwater disposal well while CPSB #4 (a re-entry of the plugged Well #31) was recently completed flowing approximately 60 bopd before increased water production required the well to be shut-in awaiting remedial work to be performed. In the meantime, the well will flow, on average, 3 bopd water free. With existing production of 15-20 bopd, this lease provides RE with cash flow to support the further evaluation of developmental and exploration activities. Estimated recoverable oil reserves from the currently zones are 40,000 barrels with an additional 100,000 barrels of oil reserves from a behind pipe zone in one of the existing wells. Development of this property has been limited and only 40% of the acreage has been properly evaluated. RE purchased 5 square miles of 3-Dimensional Seismic in order to determine the property's full potential. We have completed an initial evaluation of the lease based on the 3-D Seismic data which identified several areas of high potential at a very shallow depth, less than 3000'. This work has generated two exploration wells which could potentially discover 1,000,000 barrels of oil reserves. The best prospect of the two could recover 500,000 barrels or more and the second prospect, 150,000 barrels. Additionally, subsurface mapping of existing and plugged wells have identified unproduced oil still trapped in various structures from 3900 feet to 4200 feet. A volumetric analysis indicate potential oil reserves of 500,000 barrels. Two proved undeveloped well locations have been identified to recover these reserves. |
Shares Outstanding 128,174,997 a/o Jul 12, 2011...Float 26,356,274 a/o Dec 16, 2010 Contact: Mr. J. Molloy Phone: (212) 560-5195 Email: info@fox-petroleum.com Web: http://www.fox-petroleum.com/ | |
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