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Vega
I thought you were asking both and I was just too lazy to answer the second question but now I see you only wanted to know the share structure in general.
Share Summary
At the current time here is what we know.
At 9/30 released in the Financials:
750,000,000 authorized shares
543,307,265 issued shares
Add the transaction in the recent press release of 67,000,000.
Total issued is 610,307,265
Leaving 139,692,735 held in the treasury by the company.
This may not include all changes. They will be released in the upcoming financials.
Keep in mind last year Gordon LeBlanc went from 160 million to 104 million at year end. We don’t know if the entire 67 million in the release came out the available shares or if they include shares that were held by others.
@ Traderfan - I share your frustration but you misinterpreted my question. I didn't ask how many shares were sold to the new investor at .01 per share (obviously in the press release). I'm asking does anyone know how many shares of PSUD have been issued in total? And how many shares of company stock the company currently retains?
I want to respond to the recent post
of Traderfan. I've appreciated your past comments and agreed with most of them. I think in your last comment however, we need to take step back and look at what is happening. PetroSun isn't just dumping stock at a penny a share. There are transparent about what they did and listed the sale in a release and that it was to an investor. In fact attorney Chris Hewitt listed them as an "accredited investor" which according to SEC, they must meet minimum net worth criteria. There are a lot of things happening there with the replacement of CEO Dr. Bailey and the reorganizing needed for that. With the money invested by Gary Wells and Robert Alexander it wouldn't make sense that 672k was needed to keep them afloat. This could be a new CEO, whom is to be announced early this year or another major investor of some type. Of course I am just surmising these things but keep in mind that the only information they are required to submit to us are financial reports. I don't feel they would be releasing this information to aggravate us. I feel your impatience as I have plenty of it too. Finger crossed my friend.
It‘s right in my prior posting. They issued 67 million shares at 01 recently.
Does anyone know how many shares of PSUD have been issued? And how many share the company currently retains?
Company selling shares at 01!
That is pretty shady to sell this amount of shares at a penny while the stock was trading at 10 and 15 and 20 cents during the last few months. So much for these crooks.
https://www.otcmarkets.com/stock/PSUD/news/PetroSun-Announces-Sales-of-Common-Shares?id=387424
Starting to look like some entity has to sell a big amount of shares before year end for whatever reason. He is always coming back to sell more after being quiet for a day or two. If he is finished towards the last few days of the year or the beginning of next year, we could see a move back to more reasonable levels.
The useful information posts are appreciated - the assets in the ground remain very encouraging (and then some). Still a ways to go to get back up, but nice to see green on very high volume for this one. Remaining invested and likely adding to the position for the near future, especially in this price range.
Sounds all good no doubt, and in the meantime the stock is heading towards sub penny. Good stuff.
Lithium Update:San Judas I & II $18 Billion new valuation.
All of this information has been updated on the new website in the last few weeks. This shows that good positive progress is being made on numerous fronts.
No updated values have been listed for zeolite clay, nor is it included in these numbers.
There is no confirmation of a resolution to the nationalization of lithium in Mexico, however the updated statement on the website says they plan to develop and produce the concessions.
The website also now includes pricing for lithium.
“We plan to develop our lithium concessions once the permitting process is complete. We expect to find reserves of oil and natural gas as part of our helium recovery efforts and plan to take advantage of these opportunities as they arise.
Lithium Carbonate and Lithium Hydroxide
Surging EV demand has resulted in lithium prices skyrocketing by 550% from 2020 to 2021
By the beginning of March 2022, lithium carbonate prices had passed $75,000 per metric ton.
Lithium hydroxide prices exceeded $65,000 per metric ton in 2022, compared with a five-year average of $14,500 per metric ton.”
SAN JUDAS I AND II LITHIUM
136,444,240 tons of zeolite containing 1763 ppm lithium
Covert ppm to %. Lithium at 1763 ppm = 0.1763%
136,444,240 X 0.1763% = 240,551 tons of Lithium
240,551 tons X $75,000 per ton = $ 18,041,325,000.
Source: PetroSun press release June 14, 2021
$ 75,000 price per metric ton
Source: PetroSun website
www.petrosun.us
With the increase in commodity prices this adds $ 8,762,070,175 in value to the company’s holdings.
1.3 million ask at .043 trying to get filled with no takers for now. Gonna put in some bids in the 2's and 1's because this is starting to look more and more like a desaster for now.
UPDATED POTENTIAL RESERVE VALUATION based on current market commodity rates
These are some very large numbers. Given the current trading range there is a very significant disconnect between price and potential value here. Hopefully we see an improvement soon.
I have listed my sources for all of this. Let me know if you have more questions.
REVENUE FORECAST
Year 1 expected yearly revenue $ 109 million and a profit of $ 54 million
Year 5 expected yearly revenue $ 452 million and a profit of $ 329
Million
Keep in mind at the time these estimates were generated commodity prices were lower than current.
Source: Castle Placement – Arizona Energy financing document published on Castle Placement’s website
$ 167 BILLION VALUATION based on minimum expected values
$ 522 BILLION VALUATION based on maximum expected values
These are gross values and do not account for changes in market prices. Additionally, the wholesale versus retail variations on helium are not considered here due to direct marketing of already processed helium to consumers.
SAN JUDAS I AND II LITHIUM
136,444,240 tons of zeolite containing 1763 ppm lithium
Covert ppm to %. Lithium at 1763 ppm = 0.1763%
136,444,240 X 0.1763% = 240,551 tons of Lithium
240,551 tons X $38,575 per ton = $ 9,279,254,825.
Source: PetroSun press release June 14, 2021
$ 38,575 price per ton for Lithium
Source: www.austrailanrseourcesand investment.com.au
PARADOX BASIN LIQUID NATURAL GAS
Minimum Expected Reserves 3 trillion cubic feet
Maximum Expected Reserves 10 trillion cubic feet
Source: Castle Placement – Arizona Energy financing document published on Castle Placements website
Covert 3 tcf to mcf = 3,000,000,000 mcf
3,000,000,000 mcf X $ 5.87 per mcf = $ 17,610,000,000 Minimum Expected Value
Covert 10 tcf to mcf = 10,000,000,000 mcf
10,000,000,000 mcf X $ 5.87 per mcf = $ 58,700,000,000. Maximum Expected Value
LNG Price $ 5.87 per mcf
Source Market Price 12-8-2022
HELIUM
HOLBROOK BASIN
AEP 17-1 Disclosed 2.29 bcf X 2,000 per mcf processed
Convert 2.29 bcf to mcf = 2,290,000 mcf
2,290,000 mcf X 2,000 = $ 4,580,000,000
Source PetroSun press release July 5, 2017
PARADOX BASIN
Minimum Expected Reserves 68 billion cubic feet
Maximum Expected Reserves 225 billion cubic feet
Source: Castle Placement – Arizona Energy financing document published on Castle Placements website
Convert 68 bcf to mcf = 68,000,000 mcf
68,000,000 mcf X 2,000 = $ 136,000,000,000
Minimum Expected Value
Convert 225 bcf to mcf = 225,000,000 mcf
225,000,000 mcf X 2,000 = $ 450,000,000,000
Maximum Expected Value
Source: $ 2,000 price per mcf processed helium. Desert Mountain Energy website
These numbers do not include any values for Holbrook Arizona helium other than 2.29 bcf of helium based on one zone test on one well. The remaining numbers of Arizona helium values are unknown, but will increase these totals. Also not included are any values for the additional lithium concessions in Mexico, (options for 4 more).
Questions still exist about the viability of the Lithium resources based on Mexico’s nationalization. PetroSun has hired an attorney to negotiate the company’s ability to move forward on this project. We are awaiting an update on it’s status.
Stock now at 4 cents, the sell off clearly accelerated once the CEO resigned. Going back to all time lows? Pretty sad this one.
Manuel Seep 2-1 Drilling Complete
Another step in the right direction.
The Manuel Seep well was drilled to a total depth of approximately 4,010 feet. Production casing was then installed and cemented.
PetroSun Chairman Gordon LeBlanc, Jr., stated, "We are excited to announce the completion of drilling operations at Manuel Seep, which we believe to be prospective for helium production. We are currently planning steps to test for the presence of helium in commercial quantities, including logging the well, before we determine a target zone for perforation and flow testing."
Many of my stocks have lost value. With what has been happening in the last couple of years with supply chain issues, inflation etc. it's not surprising. I'm sure supply chain and labor shortages have affected what we are all waiting for with PSUD. We have wells on incredible helium reserves and now according to their website, the company has well-head processing technology. Helium is $2000 or more per mcf. Dr.Bailey is 81 years old. He's helped get PetroSun to this point and I see nothing wrong with handing the reins to someone younger to get it over the top. With the amount of stock he is still holding I'm sure he will still be available to advise and help. I have been waiting a number of years and am not quitting now, especially with all of the improvements that have taken place with the company.
The stock performance together with the departure of the guy who was praised and came on board just a while ago as CEO, do not give me a good feeling of where this is headed. That said it already lost 90% of it's value from the highs so who knows. Hope I'm wrong.
Press Release: New CEO search underway
Dr Jerry Bailey resigned as CEO on November 23. Deep in experience Dr Bailey is in his 80s based on information I have found online.
The company continues to be more focused on Helium Production. The new website is entirely focused on Helium development and production.
The Chairman of the Company, Gordon LeBlanc, Jr., commented, "I have enjoyed working alongside Jerry as both an officer and director of PetroSun, and I appreciate his years of service to the Company's shareholders. The Company has commenced a search for a CEO with experience in energy exploration and production operations to lead the Company and execute on our deep inventory of helium opportunities."
Resources on Mexico nationalizing Lithium as a resource and what this may mean. The best info here is from a perspective report by Shearman and Sterling from which I quote "Mexico’s President Andrés Manuel López Obrador introduced a proposal to reform Mexico’s mining law (Ley Minera) on the exploitation of lithium as fast-track legislation. On April 19, 2022, the lithium reform passed.." Here are some of 'articles' in the legislation:
Article 1: The Secretary of Economy is stripped of any and all powers related to the exploration, exploitation and use of lithium. Instead, a decentralized public body will be in charge of the exploration, exploitation and use of lithium.
Article 5: The exploration, exploitation and use of lithium is declared to be of public utility, for which no concessions, licenses, contracts, permits, assignments or authorizations will be granted. Further, lithium deposits are considered mining reserve areas and lithium is part of the national heritage. Lithium value chains are publicly controlled through the state-owned entity with the state guaranteeing rights related to lithium exploration, including living in a healthy environment and indigenous rights.
Article 9: The National Geologic Service (SGM) will assist the state-owned entity with exploration.
Article 10: This clause allows the state to nationalize other minerals declared strategic by Mexico. Further, it states that the state-owned entity will operate in accordance with the president’s preferences.
The results of this on concession holders are obviously significant and still under discussion. As a result I believe concessions for Lithium mining in Mexico are currently stuck in legal proceedings (and or awaiting legal action) to see if the Mexican constitution allows concessions to be blocked in this manner.
Resource Links:
- https://www.shearman.com/en/perspectives/2022/04/mexico-nationalizes-lithium-mining
- https://www.mining.com/mexico-passes-mining-reform-nationalizing-lithium/#:~:text=%20Mexico%20has%20officially%20nationalized%20its%20lithium%20industry,the%20state%20exclusive%20rights%20over%20the%20battery%20metal.
- https://www.newsmax.com/world/globaltalk/mexico-lithium/2021/10/07/id/1039593/
I'm no expert on this so I don't have any idea how this pan out. I've just been reading about it. Resolution may take years. Likewise I believe PSUD has the lion share of it's mining assets here in the US so the business shouldn't be overly hampered by this. Feel free to chime in on this.
The new site is great news in more than one respect.
Thanks RetireSoon2 for posting the new Petrosun site. It has news I believe a lot of us have been waiting quite awhile for. It appears that we now have processing equipment in place. Added to other news we have received in the past with a reorganization of the management, reduction of debt, tanker trucks being purchased and contracts for helium purchase being signed along with other things, this is great news. The new site also is an indication that PSUD is serious about investing in opening up channels of information. It is a sign that things are headed in the right direction if they are willing to expend the effort to upgrade the site.
PetroSun has Well-Field Processor
Well-Field Processing
Our Modular Liquid Helium Processing (MLHP) Unit is a mobile modular gas processing plant which processes reservoir gas in the well-field.
The MLHP Unit is comprised of several components which are housed in ISO containers, mounted on trailers, and are interconnected at the gas production source.
PetroSun manages its own transportation fleet of insulated trailers giving us the ability to deliver liquid or gaseous helium direct to end-user customers.
These small processing plants are a fraction of the cost of traditional helium processing plants, and have the advantage of being easily relocated when productions stops in a gas field.
Depending upon the geologic formation gas composition, the MLHP can be modified to produce natural gas (LNG), liquid CO2, in addition to commercial grade helium. Helium quality from the MLHP unit will be commercial grade (99.999%), and will normally be compressed for tube trailer loading.
Liquid helium (LHe) can also be produced from the MLHP unit if required. Loading of LHe into cryogenic trailers, requires the production of liquid nitrogen (LN), which can also be performed by the MLHP unit.
New Corporate Website online.
www.petrosun.us
Significant amount of new information.
Summary to follow.
What is your source on this?
I find nothing online referencing any of this other than Kerry meeting and no reference to concession buybacks.
Thanks. I am curious as well
Not sure why posting twice. Can’t cancel either
What is your source on this?
I find nothing online referencing any of this other than Kerry meeting and no reference to concession buybacks.
Thanks. I am curious as well
Mexican Lithium Concessions: Has anyone heard any updates on this? The Mexican government nationalized Lithium as a resource blocking all future mining concessions. It appears that they are creating a government lithium mining entity that they will conduct all lithium extraction across Mexico. The Mexican government likewise indicated it will only be honoring one or two previously granted concessions that are in later stages of development (the massive Gangfeng (China) - Bacanora (UK) project being the only one I am aware of). This likely means Petrosuns plans to extract Lithium from their Mexican concessions are 'unusable' and on hold in legal proceeding. This will obviously be a big hit to the company's plans. I don't know how mining concession work but I'm thinking this means Petrosun (and all other concession owners) will be forced to sell their interests back to the Mexican government barring a new administration taking office in a couple years and resetting policy. Does anyone know more about this? Love to hear I'm wrong here.
The entire stock market has been in a free fall for quite some time and I'm afraid investors are nervous even with the story behind PSUD. The price drop may be a bit of a sign of the times. In looking at the financial reports and press releases, while few of late to be sure, I love what has been happening. Principal investors have lowered company debt and bolstered infrastructure. A new CEO with experience as the former president of Exxon Saudi Arabia, who also has experience in helium production there, has been put in place and has accepted a very good sized number of shares as part of the position as did a new board member and attorney who runs an investment firm. The two principal investors have turned their cash investments into shares of stock. When those in their company leading positions want stocks instead of cash, that says something. We are invested in both lithium and helium, two of the most sought after commodities that are in extremely short supply. China is holding the cards in lithium and major universities are having to shut down laboratories due to a lack of helium showing how bad the shortages are. Computers, medical facilities and the Department of Defense all need helium. We also have an incredible amount of natural gas. The Nord Stream pipeline was just blown up creating a shortage in Europe. All of these signs lead to very, very good things to come I believe. I've been patient as have many others. I think a little more patience is in order.
The entire stock market has been in a free fall for quite some time and I'm afraid investors are nervous even with the story behind PSUD. The price drop may be a bit of a sign of the times. In looking at the financial reports and press releases, while few of late to be sure, I love what has been happening. Principal investors have lowered company debt and bolstered infrastructure. A new CEO with experience as the former leader of BP Arabia has been put in place and has accepted a very good size number of shares as part of the position as did a new attorney that was just hired. The two principal investors have turned their cash investments into shares of stock. When those in their company leading positions want stocks instead of cash, that says something. We are invested in both lithium and helium, two of the most sought after commodities that are in extremely short supply. China is holding the cards in lithium and major universities are having to shut down laboratories due to a lack of helium showing how bad the shortages are. Computers, medical facilities and the Department of Defense all need helium. We also have an incredible amount of natural gas. The Nord Stream pipeline was just blown up creating a shortage in Europe. All of these signs lead to very, very good things to come I believe. I've been patient as have many others. I think a little more patience is in order.
Back down to 14 cents on the stock. Something seems very wrong here, this bad performance is just beyond crazy.
Thanks for the feedback! I was able to access via otcmarkets.com.
Let me know if you have more questions
To access Financial Statements
Go to otcmarkets.com
Enter PSUD
Go to Disclosures
All Statements are there.
Pathman- try going directly on the OTC website otcmarkets.com then search psud and scroll down to news and financial statements.
@ Retire2Soon - How are you viewing it that info? When I navigate to the Petrosun company website on Chrome, Edge or Safari browsers on my PC or on my Phone at -- https://www.petrosun.us/press-releases/ and then click on the "Financial Statements" link the page comes up blank (same with links for Disclosure, Research. Company Profile etc). I can't see anything. These broken links surfaced several weeks ago and from my observation appear to be a simple website bug. I reported the issue to them but it doesn't appear to be fixed. Is anyone else seeing this? Go to the company website and try to view the "Financial Statements". Retire2Soon Thanks for the info for sure! Love your commentary as always. If you have a working URL to the info you are referring to please post it for us so we can check it out. Thanks again!
That’s for the info!
Update on 2nd Quarter Financial Statements
All encouraging information
6,000,000 share option for Dr Bailey
6,000,000 share option for Andrew Levy
Andrew Levy, Greenwich, CT of Redstone Capital on the Board of Directors
394,469 acres under lease in 4 corners area.
On July 12, 2022, the Company executed an amendment with the assignor of its Manuel Seep properties, who is the original lessee of the properties under lease. As part of the amendment, which extended the leases, the Company agreed to complete drilling on the wellbore designated as the AEP 2-1 MS on or before September 30, 2022.
On April 21, 2022, new legislation was signed into law by Mexican President Andrés Manuel López Obrador to reform the lithium mining industry in Mexico. The legislation banned the issuance to private or foreign companies of concessions for the operation of lithium mines. The applicability of the new legislation to existing mining concessions is unclear at this time, given that the Mexican Constitution contains a prohibition on nationalizations by the country’s federal government. The Company has retained legal counsel in Mexico to advise regarding the impact of the legislation on the business plan of the Company’s wholly-owned subsidiary Teche Mining, LLC. The Company is a party to installment purchase contracts for two lithium concessions, an installment purchase contract to acquire a property that suitable to support mine logistics and operations, and option contracts to acquire four properties that are potentially prospective for lithium.
I think we will start to see investor growth when the company posts some actual earnings. They report the profit of a lemonade stand quarterly which makes little sense. I'm not talking assets I mean actual revenue. And if they can get their act together and uplist. I've been waiting for years for this phase so I'm hopeful. Maybe this quarter maybe further down the trail we will see if it's coming. Lol. Get to extracting and selling already this energy market won't last forever.
Nothing But Positive Lately.
Low prices don’t make sense to me either. A good opportunity to buy some more under .50, which isn’t high enough in my opinion.
2nd quarter due next week. Hopefully more information that is helpful. With new management, financial restructuring, and an updated development plan I am optimistic.
Stock down to .21 again, crazy weak despite the good developements here.
Anticipating More News Soon
US Natural Gas Futures surged more than 11% at one point on Wednesday to $9.75 per million British thermal units (MMBtu), the highest level since July 2008. EU gas supply is fragile and EU officials working on ways to cut consumption due to supply issues. All will continue to move prices higher.
Helium going higher, if available at all.
2nd quarter financial statements due August 15.
Reserve values continue to rise.
Head of Field Operations Hired
Christopher Sumner will serve as Head of Field Operations for PetroSun.
Sumner, will oversee and advise Seidel Technologies in this work.
The Board has approved the Company's largest exploration and development program to date.
Major Press Release: Seidel Technologies Hired
The Board has completed a review of the company projects and approved the hiring of Seidel Technologies.
PetroSun has engaged Seidel Technologies ("Seidel") to prepare and execute the development program. Seidel will serve as the general contractor, providing engineering and project management.
Seidel Technologies
Privately Owned
Total Employment 20+
Help develop $100 billion of client assets in 13 years
Over 200 clients served
Founded in 2009 to "create collaborations in energy development"
Over 1200 wells drilled and completed
Multiple basins in North America (US and Canada)
International operations in Russia, West Africa and Australia
Offices in Denver Colorado and Calgary Alberta Canada
This stage of development will focus on Holbrook Basin Arizona and Paradox Basin Utah. All projects are expected to produce Helium and Paradox Basin is also expected to produce Natural Gas.
This is great news!
Thanks for the info RetireSoon2. With the shortages of lithium this is really big. I don't think Mexico has the infrastructure to mine and even if they tax what comes out of the ground, there are potentially billions of dollars here too.
Lithium Concessions may still be in place
Good News from Nikkei Asia
It's possible that the Supreme Court will have the last word because the new law says nothing about existing concessions," said Oscar Ocampo, coordinator for energy at the Mexican Institute for Competitiveness.
Marcos del Rosario, a professor of social politics and legal studies at Mexican university ITESO, said that the government had to honor previously issued mining concessions. "There is a principle in law that establishes there cannot be retroactivity in detriment of the people," he said.
The assets and liabilities have really
turned around in a very positive way. We have seen a turnaround in the way they conduct business too. They have really cleaned up the books and this could lead to getting off of the OTC pink rating. Getting off of pink will allow for institutional investment which will help pricing as well. I keep feeling better and better about where things are going.
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