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jap1511, have you had a chance to get into my favorite company?
Speckies, AYSI-... Not real early, but the chart is setting up for a big move potentially. Not saying it will, but we're looking at a similar recipe as with MXC.
Tight float, heavy insider interest, good news recently, no dilution, highly profitable, breaking higher on volume, maybe a few idiots shorting...
Could be a quick scramble upward but we'll see. There is probably an overhang of overly cautious VMCers in it still that may cap it from running real hard (not ALL VMCers, just some unfortunately LOL- my next big pick I'm going to make sure I get the guys that hold their shares until death!!! OK, not literally...). Wish those guys would learn when to let something just go free and run... It took me awhile to learn that one as well though.
Never could convince them very well when I was there (tremendous group though overall). Oh well. Profits are profits to them. But I want retirement not profits.
I think there might be a pause briefly next week but if a bit of volume pushes in to the upside, it could run fast and hard...
NO institutional holders on record so it is still early IMO on that company... The bigs are still apparently clueless IMO (a bit surprised actually LOL).
IMO only.
PS- nat gas at $12? Yeaaahhh. May need to start combing those micro nat gas plays once (if?) they come back down a bit.
I am sort of praying to allah with that chart amazing, how do some of these get so lucky. Wish I knew early.
Mexco Energy Corporation Announces Exploration and Development Results
MIDLAND, Texas, May 23 /PRNewswire-FirstCall/ -- Mexco Energy Corporation (AMEX:MXC) today announced the results of further tests of a well in Loving County, Texas.
Mexco Energy Corporation acted as operator of a discovery well drilled to a depth of approximately 6,680 feet in the Cherry Canyon producing interval in Loving County, Texas. Based on a four point test by an independent testing firm, this well was calculated to produce at an absolute open flow rate of 12,773,000 cubic feet of natural gas per day. Mexco's working interest in this well is 31.25% (net revenue interest of 22.94%).
During this four hour test the well actually produced 1,366,000 cubic feet of natural gas, 26 barrels of 63 gravity condensate and 12 barrels of water on chokes ranging from 11/64 to 15/64 inches. Previously the well had been shut in for a period in excess of 72 hours. The rates at which this will be produced and sold have not yet been determined and may be substantially different from these potential tests, based on regulatory and engineering considerations as well as performance of the well over longer periods of time.
Mexco Energy Corporation, a Colorado corporation, is an independent oil and gas company located in Midland, Texas engaged in the acquisition, exploration and development of oil and gas properties.
WEEEEEEEEE!!! Oh wait, wrong day. Having flashbacks LOL.
They are supposed to have an update btomorrow. We'll see if that is the case. Might spark another rally. people are really poo pooing some great results from these guys. Of ocurse the move has been overdone but look whate their peers have done on much less news. MXC is the one putting out all the nice rpoduction and should have some very solid Qs coming. Granted we're still pretty high, but I am contemplating nibbling again just a little if we drop a few more points. I ahve about 1% of what I ahd left now so it owuld be nice to build back at leats a little bit 9say 10% every 5 points or so to the downside).
Anyhow, for now still too pricey and still don't have clarification on the Tarrant Cty wells.
Good luck, Let's see
A NEW HIGH FOR AYSI tomorrow. Check her out for those of you not in, it is on the cusp of breaking out. It is getting close to breaking higher and there's a good group of dedicated shareholders there. MXC had a devout group before their run got going big. Not that AYSI will do anything similar, but it could take a nice pop upward if it moves just a bit higher. I think there may even be a few shorts on it that could get scared and may try and cap it short term, if I see that kind of action in it I may bum-rush them with a couple others to try and catch them upside down and in hurt mode (ETRD and PERT are my guesses but not sure, keep a close eye on those two over next few days IMO).
Could be interesting the next few days for that one to see if someone ttries to push it down near term (an obvious sign of shorts IMO if that happens and that will be the time to make a concerted effort on them).
Good luck!
Shareholders that don't want to sell is how it goes up like that. They were shaken out over a 2 year period where the stock went down down down. Then when things turned around, there was still a little overhang and lag ot catch back up to fair value. That was the time to buy, when it went from the $4s to $50+.
Of course the move was way overdone, but also there was some meaningful news that kept the fire burning IMO. This company will have some very good results this year. Probably better than ever before. And they've been around for over 10 years as a public company...
Oh, and they are a NAT GAS company LOL. Lots of people calling them an poil company. especially those darned cheesy microcap news outlets thta are putting out info on Yahoo. They don't even look at what the companies do yet go out and throw out info as if they're gurus or something IMO.
A disservice to investors. No wonder people are so confused trying to invest these days.
GBR $13!!! O/S only 1.9-- the next MXC
Almost time to short OM...
#msg-29301254
that happens and I am in FOOOOOSHOOOOOO!
Maybe back to $5 so we can do it again! lol
wow...dropping hard.
OH!!!!!!!!! That is a good combination!
Less than 600K float and OIL!
GBR $11 up 38% AMEX stock O/S 1.9 mil shares
GBR trading like MXC--- unbelievable with such a low float could easily see $20s
alot of shorting going on with this one
$55.70 looks like the top to me.
Rhino
SSN starting to look like MXC unbelievable!!
$7.40 up 3.50 and volume is explosive. Very low float.
If this frenzied buying keeps up the stock will break over $100 by next Tuesday ....
I bought most of my position between about $4.1-$4.4. Then I bought a few more around $4.5s.
Then I sold in the $8s on the first run and some people were basically saying sell it all so I sold a bit to be prudent.
Then they came out with the flow rates on the 2 Tarrant Cty wells and immediately started buying back those shares in the $7s mostly and mentioned pounding the table at that point (again). Then got some more in the mid-high $8s when it pulled back a bit from the $10 run. Then I started selling. Probably from the $10s to the now $50s.
That's approximately as I recall off the top of the head.
Lucky. Except should ahve been more patient since I still want to see their June and August reports. Unfortunately my interest in the shares is tiny now.
I missed my big chances to load up in the $4s. I have been pissed ever since those 2 or 3 times where the stock traded good volume for about 5 minutes and I was on the bid. I ended up having someone pick up the shares 1 penny above my bid back then and it happened I think 2 or 3 times when I was away from the 'puter and over short periods of time. It was before I told anyone about it and was trying to build a position. Unfortunately never did get the full position I wanted.
Anyhow, that's about it LOL in a memory review.
Good luck. I like AYSI now more than anything else out there but they don't have the book value protection yet. The organic profitable (and sustained) growth and prudent management are unmatcahble anywhere in VMC land.
Show off, lol. Dude, Congrats on making the play of the year, imo.
Grabbed some JDO for another Oil/Nat Gas lotto bro!
Littlefish....I hate to ask....but, what was your purchase price for those shares you just sold at $49?
My Turn! WEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE!!!!!!!!!!!
ANOTHER NEW HIGH...
Sold some more at $49+.
Sold some more at $51.
Some more$54+.
Put in another at $54.98 LOL. That's still open though.
OT: Here's the answer to your question, Littlefish:
In November 2007, the Company entered into an investment banking agreement with Aurora Financial Services. As a portion of its compensation, the Company was to issue country-regionAurora 1,000,000 shares of common stock upfront. The Company did not have adequate authorized shares to give to country-regionAurora, therefore the Company’s Chairman and Executive Officer each gave country-regionAurora 500,000 personally held, non-restricted shares. Since the Chairman and Executive Officer gave non-restricted shares on behalf of the Company, the Board approved issuance of 750,000 restricted shares each as repayment. These shares were valued at 17 cents each on November 12, 2007 based upon the closing market price of the Company’s commons stock and expense to the company of $255,000 was recorded. The shares have not been issued as of December 31, 2007 and are part of the stock payable at December 31, 2007.
Yikes, A D N Y looks terrible. Look at the insider trades! These guys don't care about you. They care about themselves (they got shares way below market value, stay away from these types of managers IMO only).
Sorry, but it failed my screen almost immediately unless there's a REAL good reason these guys got millions of shares on May 12 2008 for almost free!
Be careful man, you are scaring me with some of your picks. I don't even know the company but you could help me by trying to explain to me first why they got so many shares at extreme discounts to market rates(?) That is your first task to reply to this post and explain it if you can with good reasons. If you can't, sell IMO only.
It is just my opinion but it looks extremely obvious to me. Maybe it is just me (what is the reason for insiders giving themselves so much $ at your or other shareholder's expense? This is one of the first and most important things I look at when screening):
http://finance.yahoo.com/q/it?s=ADNY.OB
Whenever you see insiders getting shares well below market, I don't care how few or many shares, I don't like investing in that company for the most part. there are rare exceptions, but easier to just avoid altogether and avoid potential problem slater on. IMO.
Littlefish,
Take a look at ADNY. Nice volume yesterday and today. Another great place to put some of your newly earned BIG BUCKS!
Rhino
smoke, it was obviously pure luck getting to $40+ (too bad 80%+ of my shares were gone by then!). One thing I will say about MXC is people underestimated (me too) the value of some of their assets and land (much of it in the heart of the most prolific land-based nat gas find in the US, around the Barnett Shale or its outskirts area). The Love Cty well they finally got hooked up is flowing way ahead of what I thought it would. The 2 wells in Tarrant Cty I was looking for production way under 3,000 mmcfpd.
Lots of their stuff is turning up roses after years of the opposite. That was one reason this one felt really 'right' in that the biz had turned and it could be seen yet people were actually selling the shares at levels much lower than where it had been valued historically or even recently. And volume stunk then so it was clear to me that anyone that wanted to sell had sold long ago and that what was left were probably devout holders or else people with small positions they'd forgotten.
Anyhow, luck is always good but is just luck. Picking it at $4.3 was not luck IMO. Just some sleuthing around and scouring about for details that others may not notice. Holding some to $20 and then $40 in a matter of weeks is pure luck.
I do like AYSI and its long term potential. That is another long term project of mine that will hopefully pan out to be a 1000% gainer. But there is always risk in the microcap space and they too are not without risks of course.
Good luck, good to hear from a longtimer.
PS- OM, how could you have sold out buddy! I thought we were in this together LOL... Oh well, I'll still hold my little pocket of shares to ensure I watch how the story unfolds going forward compared to what I was thinking would happen. It doesn't help me to learn if I sell it all now without watching closely to see how things go. And this is a constant learning process... Make sure you hold some of that AYSI long term;)
jap1511- good to see you hanging out even if not getting in on the friggin' barreling train. We'll find another eventually but highly doubt it will be anything like a quick gainer like this.
My little daughter (5) has been dancing around chanting "Let's go Mexco!" for the last couple months since I started buying it fairly substantially. Gotta keep a few shares so she can still dance too LOL.
PS- good luck with the AYSI position. I would not bet big on it yet but think it is a good spot to start a position and hope you keep up with the AYSI board. There are some knowledgeable posters and mod and assistant there. I ahve been nibbling on it in this price range.
KiK- haven't looked at that one. I'll take a gander at it in the next couple days. You usually have some good low floater types.
Good luck all! There's no way in the world I would recommend anyone buy this now. At the same time I don't short so am not gonna say short it either.
I will mention I think AYSI is attractive at current levels though and will probably do quite well with time. Good luck all (yes, I mean ALL since I don't like seeing anyone lose $ even if I don't like the person).
lf, have you ever looked at SPND?
How do they stack up against your monster?
http://biz.yahoo.com/prnews/080519/lam057.html?.v=101
I know it..AYSI looks pretty good..Just added some PAL
This is freakin nuts. Great Call! I took a starter position in aysi as a precaution.
Littlefish, your MXC call from $4 ranks up there with the best I've ever seen. And selling too soon is hind site gane folkes play that watch the world pass by seated on the tail gate of a pickup. Few players here would have had any left at $10, much less $20 and who was buying at $20 (only momo-nuts and people standing down wind of the gusher).
Show your wife the enron chart if you can find one.
Smoke
weeeeeeeeeeeeeee look at her go
LOL not far away from shorting this jewel :D
Yep and I have enough shares left to throw parties every day LOL. I just sold a bit more at $39+. What a ridiculous run the momos can make. Thank goodness for shorts and momos this week! Shows why I never short.
Darn. Had I kept all my shares I'd now be fulltime retired... If I sold them right now. Maybe next time, or better yet maybe with AYSI;) I would rather have that one get me retired.
This is just plain amazing little! WOW! Is all I can say
Yep and I have enough shares left to throw parties every day LOL. I just sold a bit more at $39+. What a ridiculous run the momos can make.
Darn. Had I kept all my shares I'd now be fulltime retired... If I sold them right now. Maybe next time, or better yet maybe with AYSI;) I would rather have that one get me retired.
Will take a look at it..Thank you 3Saints!
OT >> AOG getting big volume >> next o/g momo?
Wow, MXC is almost a 10 bagger in a month and a half. I can't remember ever seeing that happen before! Congrats!
Mike
any idea on how high this might go. my brother owns 300 shares.
Already begun my DD on the steel one..Liking what I see thus far
WEEEEE! OM- then what are you gonna do as mod LOL? Youcould hold it until we find someone with share for the long term. My shares left now are going to be for the next 10 months.
I don't want to be mod but think we need to find someone that will hold their shares longer term. I still need to see my scenario play out of June being record earnings followed by August record earnings and hurricane season regardless of share price;) Guess I'm funny in that way but jst want to see if the thesis works out about how planned. The share price already well exceeded our expectations! Nice job holding some to well north of $20. Well done.
But I've taken all the profits I can in this. The rest are rot shares.
Check out AYSI. It is the best risk reward play I can find out there.
Out! Has been fun my friend!
OMG (OptionMonsterGawd), is it your turn or mine to call it today?
We only have a few minutes to make the call so I'll et you choose whether to be the one or not...
I know, I know... Yawn. This is getting boring;)
Ya right!
My wife syas it is worth $40. Man has she been able to say 'I told you so' over the last week LOL. She's been kicking my but on this call. I told her it was extended at $20 and she said no it's going to $40 (not that she has any idea what it is worth or so I think LOL), now they annopunce another big well.
Yet another monster well, plus they have all that prime real estate in the Barnett Shale. Plus thye'll ahve the cashflows now to develop some of that property.
Ah, I loaded up OK on it to start but never did get my full position... Oh well.
Way to early to tell but MXC is bidding $29/$33.75 pre-market at this time
MXC PR is out....
(DOW JONES) DJN: PRESS RELEASE: Mexco Energy Corporation Announces Exploratio
and Development Results
DJN: PRESS RELEASE: Mexco Energy Corporation Announces Exploration and Developme
t Results
MIDLAND, Texas, May 19 /PRNewswire-FirstCall/ -- Mexco Energy Corporation
(Amex: MXC) today announced completion of a well in Loving County, Texas.
Mexco Energy Corporation acted as operator of a discovery well drilled to a
depth of approximately 6,680 feet in the Cherry Canyon producing interval in
Loving County, Texas. This well produced from a 45 acre drilling and
spacing unit on a 24/64" choke flow test on May 16, 2008 at a rate of
3,450,000 cubic feet of gas per day with a flowing tubing pressure of 1,000
pounds per square inch, 912 barrels of water and 48 barrels of oil per day.
Mexco's working interest in this well is 31.25% (net revenue interest of
22.94%). Further testing, exploration and development of this discovery is
anticipated and we will issue an update later in the week.
Mexco Energy Corporation, a Colorado corporation, is an independent oil and
gas company located in Midland, Texas engaged in the acquisition,
exploration and development of oil and gas properties.
FORWARD-LOOKING STATEMENTS
Except for historical information, statements made in this release are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934. These statements are based on assumptions and estimates that
management believes are reasonable based on currently available information;
however, management's assumptions and the Company's future performance are
subject to a wide range of business risks and uncertainties, and there is no
assurance that these goals and projections can or will be met. Actual
events or results may differ materially from the forward-looking statements.
Estimates of potential typically do not take into account all the risks of
drilling and completion nor do they take into account the fact that
hydrocarbon volumes are never 100% recoverable. Such estimates are part of
the complex process of trying to measure and evaluate risk and reward in an
uncertain industry.
Any number of factors could cause actual results to differ materially from
those in the forward-looking statements, including, but not limited to,
production variance from expectations, volatility of oil and gas prices, the
need to develop and replace reserves, the substantial capital expenditures
required to fund operations, exploration risks, uncertainties about
estimates of reserves, competition, government regulation, costs and results
of drilling new projects, equipment availability, or other things that are
associated with oil and gas production or may be beyond the control of the
Company. Operations that are anticipated, planned or scheduled may be
changed, delayed, take longer than expected, fail to accomplish intended
results, or not take place at all. These risks and uncertainties are
described in the Company's annual report on Form 10-K filed with the
Securities and Exchange Commission ("SEC").
SOURCE Mexco Energy Corporation
/CONTACT: Tammy L. McComic, Vice President and Chief Financial Officer of
Mexco Energy Corporation, +1-432-682-1119, mexco@sbcglobal.net
(END) Dow Jones Newswires
May 19, 2008 15:29 ET (19:29 GMT)
*** end of story ***
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WELCOME TO MEXCO ENERGY CORPORATION ONLINE
Mexco Energy Corporation is an independent, publicly owned oil and gas company engaged in acquiring and developing oil and gas properties and the exploration for and production of oil and gas. Mexco Energy Corporation, a Colorado corporation founded in 1972, currently conducts all of its drilling, exploration and production activities in the United States. All of its oil and gas assets are located in the United States and all of its revenues are derived from sales to customers within the United States, primarily in the Permian Basin of West Texas.
Mexco focuses primarily on the exploration for and development primarily of natural gas reserves and secondarily oil reserves.
In addition to exploration and development, Mexco acquires interests in producing and non-producing oil and gas leases from landowners and leaseholders in areas considered favorable for oil and gas exploration, development and production.
Mexco also engages in the business of acquiring proved reserves and continually searches for opportunities to acquire proved oil and gas properties, including royalties and mineral interests with development potential.
Mexco common stock is listed and trades on the American Stock Exchange under the symbol MXC.
CORPORATE GOVERNANCE | ||
Directors of Mexco Energy Corporation Thomas Graham, Jr. - Chairman of the Board of Directors | Officers of Mexco Energy Corporation Nicholas C. Taylor - President, Chief Executive Officer, Director |
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