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RMEC are we making a comeback?...What is the news? After the scandal, over reaction..GOOD BUY at these prices..
Any chance on rmec moving up or did Suddam Ehrman screw the investors. Since Suddam Ehrman has a past lock him up for good and give all his asstes back to the shareholders......
SEC: Ex-Rocky Mountain Energy CEO Manipulated Co Stock
Thursday, April 3, 2003 07:04 PM ET
Dow Jones Newswires
WASHINGTON -- The Securities and Exchange Commission said it obtained an emergency court order Thursday against the former chief executive of Rocky Mountain Energy Corp. (RMEC, news) for allegedly manipulating the company's stock.
A U.S. District Judge in Houston issued a temporary restraining order against the company, John Ehrman and the company's general counsel W. Roderick Johnson, ordering them to halt the alleged stock scam. The judge also froze the company's and Mr. Ehrman's assets.
Rocky Mountain Energy announced Wednesday that it replaced John Ehrman as its chief executive with Michel Clerin who isn't named in the complaint.
According to the SEC, Mr. Ehrman issued "a stream of glowing but false and misleading press releases to artificially inflate the price and trading volume of the company's stock."
The press releases allegedly said the company had made several acquisitions of valuable oil-and-gas properties. Another statement, issued on March 31, claimed that the company acquired assets that had the ability and experience in putting out oil well fires and was "in current negotiations to send oil well fire fighters to the Gulf Region," the SEC said.
However, the agency contends that Rocky Mountain didn't have the assets nor the financing to complete any of the reported acquisitions.
Mr. Ehrman was previously sued by the SEC in the early 1990s over an alleged fraudulent oil-and-gas scheme. He was permanently barred from certain segments of the securities industry, the SEC said.
Spencer Barasch, an associate administrator in the SEC's Fort Worth office, said "it's particularly troublesome that Ehrman didn't get the message the first time the SEC sued him, but we intend to ensure he gets the message this time."
In addition to the asset freeze, the SEC said it will seek an order to have Messrs. Ehrman and Johnson give up any ill-gotten gains plus fines and an order barring Mr. Ehrman from acting as an officer of a public company. Mr. Barasch also said the SEC is seeking an order to permanently prohibit both men from trading in penny stocks.
In the SEC complaint, the agency alleges that Messrs. Ehrman and Johnson controlled 50% of Rocky Mountain Energy shares, and dumped more than $800,000 worth of the company's stock into the market since July 2002 at artificially inflated prices.
In carrying out the fraud Messrs. Ehrman and Johnson filed false corporate reports and registration statements with the SEC, the agency said. Among other things, the filings misrepresented Messrs. Ehrman and Johnson's ownership and sale of about 31 million company shares, the SEC alleged.
Mr. Barasch said the SEC hoped the asset freeze would result in the recovery of the $800,000. But he couldn't provide a dollar amount at this time, explaining that the agency is now in the process of notifying banks about the asset freeze.
Mr. Ehrman's attorney wasn't immediately available to comment and Mr. Johnson doesn't yet have legal representation.
A message left for Mr. Johnson wasn't immediately returned and calls to the company went unanswered.
Mr. Barasch said that the SEC wouldn't halt trading in the company's stock, but would notify market makers of the litigation.
-By Phil McCarty, Dow Jones Newswires; 202-862-9251; Phil.McCarty@dowjones.com
Dow Jones Newswires
04-03-03 1904ET
Just seen this posted by Mr. Ed on marketscams:
WASHINGTON (Dow Jones)--The Securities and Exchange Commission said it obtained an emergency court order Thursday against the former chief executive of Rocky Mountain Energy Corp. (RMEC) for allegedly manipulating the company's stock.
A U.S. District Judge in Houston issued a temporary restraining order against the company, John Ehrman and the company's general counsel W. Roderick Johnson, ordering them to halt the alleged stock scam. The judge also froze the company's and Ehrman's assets.
Rocky Mountain Energy announced Wednesday that it replaced John Ehrman as its chief executive with Michel Clerin who isn't named in the complaint.
According to the SEC, Ehrman issued "a stream of glowing but false and misleading press releases to artificially inflate the price and trading volume of the company's stock."
The press releases allegedly said the company had made several acquisitions of valuable oil-and-gas properties. Another statement, issued on March 31, claimed that the company acquired assets that had the ability and experience in putting out oil well fires and was "in current negotiations to send oil well fire fighters to the Gulf Region," the SEC said.
However, the agency contends that Rocky Mountain didn't have the assets nor the financing to complete any of the reported acquisitions.
Any opinions on thier 3/14/03 and 3/31/03 news.
RMEC made the watch sheets of several newsletters this month while I was away. Perhaps it will make investors some money.
any news about thi stock RMEC. Heard it could merge but there is nothing but promising news from the copmpany about this 1 .
GOD BLESS AMERICA AND OUR TROOPS
RMEC..is just making me wonder what is going on. The run it had this week was surely based on the press release anticipation and the "pump and dump" outlets its been using. The press release yesterday said nothing new.....just makes me wonder and reminds me of the IBCL games a few weeks ago, but then again, who knows????
Am I reading the 10Q correctly?
The company has no current assets (ie Cash), $816K in current liabilities and in the company's press releases they are bantering about dollar figures in the tens of millions for an "agreement" to acquire some property?
Can they make themselves anymore of an obvious target?
>
They've been doing a million or so in dollar volume a day lately, eh?
This just in.............
Rocky Mountain Energy Corporation ........................
Shareholder Update .....
Rocky Mountain Energy Corporation Announces
Shareholder Update
Houston, Texas - Feb. 28, 2003 - Dear Shareholder: There has been a good deal of speculation regarding our potential merger. I would like to address a few things at this time.
Disclosure- Although I disclosed that we are discussing a merger with certain companies (one NASDAQ and one American Exchange), I cannot and will not disclose the symbols. Regulation "FD" is in effect and it would be unwise to disclose what is not a fact. Credibility is key. As we have done (so far) what we announced we would do, I do not want to cite a certain company and have it be something else. In addition, I don't want to jeopardize the negotiations until a deal is consummated. One rumor that I will put to rest once and for all is that Powder River Basin Gas (PRVB OTCBB) was a potential merger candidate. This is not so and no discussions are contemplated with this company.
Exchange Rate- Process The current rate of our stock to merger candidate stock is not set yet, so I will not speculate about it. One thing is for certain. Such an exchange of shares is based on the value of the reserves and current cash flowing properties which we own and have under contract at the time of the merger announcement, not our stock price. Frankly, the short-sellers (who are also the message board bashers as well) would love to assume that that can affect the merger by manipulating our share price, but the transaction will not be predicated on our stock value. The process, if completed, is likely to be structured as a sale of RMEC to our merger partner. They will "buy" us with their shares. This will involve filing a proxy with the SEC and taking a vote. The rate of share exchange of RMEC stock to merger company stock will be known. The shares will be exchanged (key word "exchanged") for the stock of the NASDAQ or American Exchange company's stock.
Rather than speculate regarding those whose interests are opposite our shareholders are doing, I would rather focus on fundamentals. The acquisition of the cash flowing properties which you are reading announcements on (Stifel Nicolaus etc.) is the key to developing fundamentals. We have made ourselves attractive to several NASDAQ and American Exchange companies who put a premium value on the assets, reserves and cash flows being purchased. Those of you who wondered what we were doing can now see that a permanent solution to the naked shorting problem was, in fact, being solved by simply pursuing the fundamentals as I said it would. They can't fight the merger since it's not based on the stock price, but acquisition and asset value. There is no naked shorting allowed on the NASDAQ or American Stock Exchange.
Remember that we said we would close Trinidad. We said we would close U.S. Oil. We said we would go get our stock back in a lawsuit. We said we would seek out cash flowing assets. We said we would give a 10% stock dividend. We have delivered on each of our commitments. You may have seen our latest announcement. The 750 bopd and 5.5 mmcfpd gas will generate $1.1 million at current prices or $0.20 per share. The other properties already announced will generate $0.05 per share. Cash flow of $0.25 per share isn't a bad start in fundamentals. At least an equal amount is being negotiated at this time.
I would like to put something in focus for everyone. EL Paso Gas began twenty-five years ago with nothing and became the largest gas company in the world. When they finally sold off their older assets (after Burlington took a run at them), that start up company who bought those assets is now known as Williams! The point is that it takes time to build fundamentals. The source of credibility is that I am not promising you a rose garden overnight! I do not work for day traders. I work for long holders who want a sound company, built on solid fundamentals.
This merger is not a done deal. We are in discussions and are pursuing it.
As each acquisition announced brings us closer, keep watch for that news. The deal is being structured in such a way that naked shorters are a sideshow and will only drive the price higher when they have to cover shares.
On other matters, I would like to address two questions put to me recently: 1. We received some free trading shares as our salary. There is some concern we will flood the market. Not so. The SEC requires that an officer of the company can only sell 1% of the total shares outstanding every 90 days. Therefore, I can only sell less than 24,000 shares per day average, which on our volume will have no effect (less than 700,000). 2. Revenue on Weston/Crook County (U.S Oil Properties) - I learned on February 13, that the filing of our 10Q would not include the Weston and Crook County revenues (filed February 14th) as we have not finished paying off the $200,000 note due U.S. Oil, although we have made good progress during the first quarter. We expect it to be reported in our Second Quarter (March 31st). Conclusion We have pursued and continued to pursue the cash flowing properties that build our fundamentals and create a favorable merger opportunity for us. As we have performed on everything we have promised so far, we expect to continue in that same pattern. As more news is forthcoming regarding building the company, we will release it. We went public in late May 2002. If we could consummate our merger and purchase the cash flowing properties as expected by May 2003, we will have done very well for one year of effort.
Well, keep in mind, this company just formed on May 10,2002!
Although PR's are looking great, I think I am just wanted to see some true realized revenues and profits in a 10Q before I buy in.
I'm tired of being burnt by jumping in too quickly into a company. DD is more important than ever nowadays in stock investing.
http://knobias.10kwizard.com/filing.php?repo=tenk&ipage=2026176&doc=1&total=&back=1&...
dpb5!
I'm in the same boat... just watching and waiting...
"and the PR's seem very encouraging." almost too good to be true? what's holding this one back if the PR's are accurate?
Hi Yankee 1,
I haven't taken a position as yet, but I am following the progress closely.
I like the business plan and the PR's seem very encouraging. Waiting to see a quarterly report or two in the future to see how the development continues.
anyone utilizing this board? I'm starting to follow RMEC and would like some input about their potential. Anyone out there long on this company? if so, why?
Sounds like things are still moving in a positive direction with shares being cancelled and more reserves and production being acquired.
Rocky Mountain Energy Corporation Continues Its Aggressive Acquisition Strategy With $8 Million Purchase of Producing Colorado Oil and Gas Property
Company Adds an Additional 8.3 Billion Cubic Feet of Gas and 450,000 barrels of Oil Reserves to Its Production
THURSDAY , JANUARY 30, 2003 09:30 AM
HOUSTON, Jan 30, 2003 (BUSINESS WIRE) -- Rocky Mountain Energy Corporation (OTCBB:RMEC), an emerging developer of proved oil and gas reserves in the resource-rich Rocky Mountain region, announced today it has executed an agreement to purchase a producing property located in central Colorado. The field is currently producing $150,000 per month. Net reserves purchased are 8.3 billion cubic feet and 455,426 barrels of oil proved reserves.
Production is anticipated to be raised to $425,000 per month by performance of behind pipe mechanical operations.
The price paid is $8 million with an effective date of Jan. 1, 2003 (RMEC is credited with production proceeds from Jan. 1, 2003) or $4.35 per barrel equivalent acquisition price. Oil prices are currently over $30 per barrel. Closing is set for March 31, 2003.
"The acquisition of this property is in keeping with our primary business plan objective of incorporating properties with existing cash flow with our portfolio of proved undeveloped reserves awaiting development," said John N. Ehrman, president and CEO. "This acquisition is the first in a series of three such acquisitions, which if successful will bring our current cash flow to some $1.8 million to $2 million per month. We hope to be signing the remainder soon."
The acquisition will be funded by the company's $100 million acquisition credit facility with Residential Resources. In the event such financing would not materialize for any reason, the company would have to seek alternative financing or abandon the acquisition.
About Rocky Mountain Energy Corporation:
Rocky Mountain Energy Corporation, based in Houston, is an emerging developer of proven oil and natural gas reserves with assets in the resource-rich area of the Rocky Mountains. Rocky Mountain Energy's diversified production mix allows us the opportunity of high cash flow with predictable production.
Rocky Mountain Energy's strategy includes a property mix of producing and non-producing assets. The producing properties provide immediate net income and cash flow while non-producing assets will provide Rocky Mountain Energy with future development opportunities and, ultimately, reserves at a reduced cost.
With a management team that has over 100+ years in the oil and gas industry, Rocky Mountain Energy knows how to increase production, expand profit margins and maximize field potential. Its team of highly qualified technical professionals can examine old wells and find indications of producing zones that have never been produced, as well as develop the known proved undeveloped reserves which are the basis of any acquisition.
For further information, contact John N. Ehrman 281/448-6500 or visit our Web site at (www.rockymountain.cc).
Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.
CONTACT: Rocky Mountain Energy, Houston
John N. Ehrman, 281/448-6500
www.rockymountain.cc
URL: http://www.businesswire.com
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
Awful quiet in here?
ROCKY MOUNTAIN ENERGY CORPORATION REDUCES SHARE COUNT
MONDAY , JANUARY 27, 2003 01:49 PM
Jan 27, 2003 (Petroleum Finance Week/PBI Media via COMTEX) -- Rocky Mountain Energy Corp., Houston, (OTC Bulletin Board: RMEC) cancelled 2,540,000 common shares, cutting the outstanding shares by 4 percent. Recovery and cancellation of more shares are expected in the near future.
Debt
Company: Alliance Pipeline LP
Stock Symbol/Exchange: N/A
Headquarters: Calgary
Value: C$400 million
Comments: Issued C$400 million of senior notes maturing on Dec. 31, 2025.
Company: Enterprise Products Partners LP
Stock Symbol/Exchange: (NYSE: EPD)
Headquarters: Houston
Value: US$350 million
Comments: Plans to privately place US$350 million of 10-year senior unsecured
notes. Proceeds will pay debt.
Equity
Company: Drilcorp Energy Ltd.
Stock Symbol/Exchange: (Toronto: DCL)
Headquarters: Calgary
Value: C$2 million
Comments: Privately placed 1.91 million flow-through common shares at C$0.40
each and 3.109 million units at
C$0.40 each consisting of one common share and 0.50 of a purchase warrant to
acquire one common share at C$0.50
each.
Redemption
Company: Seacor Smit Inc.
Stock Symbol/Exchange: (NYSE: CKH)
Headquarters: Houston
Value: US$35.32 million
Comments: Plans to redeem US$35.32 million of 5.37% convertible subordinated
notes due 2006.
Company: Forest Oil Corp.
Stock Symbol/Exchange: (NYSE: FST)
Headquarters: Denver
Value: US$65.97 million
Comments: Has redeemed 10.5% senior subordinated notes.
Buyback
Company: Beta Oil & Gas Inc.
Stock Symbol/Exchange: (Nasdaq: BETA)
Headquarters: Tulsa, Okla.
Value: US$96,000
Comments: Plans to repurchase up 100,000 shares
[Copyright 2003 Chemical Week Associates. All rights reserved.]
Petroleum Finance Week, Vol. 11, No. 4 [Copyright 2003 Chemical Week Associates. All rights reserved.]
Copyright 2003 PBI Media, LLC. All rights reserved.
A call to the RMEC Transfer Agent could verify that.
http://www.pinksheets.com/quote/company_profile.jsp?symbol=RMEC
SECURITIES TRANSFER CORP
2591 DALLAS PKWY # 102
FRISCO, TX
(469)633-0101
Let us know.
John
Park your Sub at the iHub - Bub; .....the experience might just "...float your boat..." !!!
Any idea if we are still going to have a Cusp Number change?
Any idea if we are still going to have a Cusp Number change?
Keeps the SEC off their doorstep also, ha ha ha ha......
John
Park your Sub at the iHub - Bub; .....the experience might just "...float your boat..." !!!
Sounds very to the point and positive looking without trying to tout. A good letter I would say.
Rocky Mountain Energy Corporation Announces
Shareholder Letter
Houston, Texas - January, 17 2003 - Dear Shareholder: We hope your holidays were joyous. As we can tell, we did not slow down during them. As promised, we have moved forward with our business plan. You will note that we hired Stifel Nicolaus of Denver to bring us quality acquisitions in the Rocky Mountain region.
Stifel Nicolaus was founded in 1890 and managed numerous significant financings, including Chicago's O'Hare airport in 1961. In 1983 the firm went public on the NYSE (ticker "SF"). Today Stifel Nicolaus is a full service regional brokerage and investment-banking firm providing securities brokerage, investment banking, trading, advisory and related financial services. The firm has 77 offices in 30 states, employing 1,200 employees. The energy unit has completed $800 million in capital raising and advised on 19 M&A transactions, and provided valuation and fairness opinions.
Additionally, we signed a definitive agreement to acquire the HGU/NEHU lease in San Juan Basin, which was one of our original targets prior to the problems with the Marathon USA credit line. Accordingly, we managed to acquire two of the three original projects we intended to bring into the company. This acquisition brings an asset that is part of a much larger acquisition, as the adjoining gas fields have 10 million cubic feet per day. These gas fields are current acquisition targets of ours and produce $1,300,000 per month net at current prices.
The other asset that is involved concerns current production of 17 million cubic feet per day, which generates significant cash flow. The field is capable of 40 million cubic feet per day and the other 50% (non- operating) is also in discussion, thus potentially doubling the acquisition impact. A project of such size takes time however. We are currently negotiating, and no assurance can be given that we will be successful however. The CFO of the Seller is a party that I previously purchased a property from in 1999. I am optimistic that it will be successful based upon our prior relationship.
As stated previously, we filed our financial statements for our fiscal year ended September 30, 2002. These statements reflect many of the start-up costs new companies expect, and are expected to be non- recurring in the future. In fact, we expect income to equal the approximately $1 million of expenses we incurred from May through September 2002. However, many of these charges were non-cash. For example, 50% of our loss was associated with accrued losses expensed on the Marathon loan fiasco. As a result of that transaction, we took a $100,000 cash loss and $215,000 non cash loss on unrecovered stock to date, as well as accrued but unpaid compensation expenses for those officers that elected to receive their compensation in stock rather than cash. We believe this will further tie our compensation to the success of our shareholders.
It has been brought to my attention that there is a mistake in the Edgarized version of our 10K in one place saying December 31, 2002. All numbers are through September 30, 2002 and not through December 31, 2002. The mistake is a result of the Edgarization process and was not in our final draft. It is being corrected now.
We reported 70 million shares issued on January 14, 2003, of which 20 million are held by Insiders; 18 million are §144 shares. The balance is in the float. We cancelled 6 million shares on January 15, 2003, so that the shares reported in the 10K on January 14, 2003 is in excess of our current position. The losses associated with the set up months are $0.017 per share. We expect to file our Form 10Q for our first quarter ended December 31, 2002 on or before February 20, when we will also announce our results through the issuance of a press release.
We continue to move forward on our acquisitions and look forward to announcement of developmental activities and high cash flow acquisitions shortly. In other developments, please look forward to announcement of the addition of some "big names" to our board of directors who should bring in institutional support for our stock as well as their particular talents, which will be detailed in the announcement.
About Rocky Mountain Energy Corporation
Rocky Mountain Energy Corporation, based in Houston, is an emerging developer of proven oil and natural gas reserves with assets in the resource-rich area of the Rocky Mountains. Rocky Mountain Energy's diversified production mix allows us the opportunity of high cash flow with predictable production. Rocky Mountain Energy's strategy includes a property mix of producing and non-producing assets. The producing properties provide immediate net income and cash flow while non-producing assets will provide Rocky Mountain Energy with future development opportunities and, ultimately, reserves at a reduced cost. With a management team that has over 100+ years in the oil and gas industry, Rocky Mountain Energy knows how to increase production, expand profit margins and maximize field potential. Its team of highly qualified technical professionals can examine old wells and find indications of producing zones that have never been produced, as well as develop the known proved undeveloped reserves which are the basis of any acquisition.
Company Website: http://www.rockymountain.cc
Thank you for your continued support.
Rocky Mountain Energy Corporation
John Ehrman
President / CEO
email: Jehrman@rmec.org
voice: 281 448-6500
That Brit thaat works in IR with Randy said that the MFMMMs thought the recent price dip was a freaking giveaway considering the gas data........
John
Park your Sub at the iHub - Bub; .....the experience might just "...float your boat..." !!!
HAPPY NEW YEAR to everyone on the Rmec board,
I hope that this stock is good to you all in 2003!
JR
Semper Fidelis is the Motto of the U.S. Marine Corps. It is Latin and means "Always Faithful." Semper = Always Fidelis = Faithful. Semper Fidelis.
hey jm, art, and sd. thanx so much for the dd and posting the residential resources link.. i don't know why but i could never seem to track any info down concerning them.. good to a part of such a calm board.. i'll keep my fighting and arguing over at the rb board, it's nice to come here and relax, i know not to wrestle in the house.. thnx again.. bv99.
posistion. long at this point
Nice board catfish. RMEC moving up a bit today even with a late notice filed. Perhaps 2003 will see a gusher for rmec shareholders.
JR
Nice work...................
I added your link to the iBox.
John
Park your Sub at the iHub - Bub; .....the experience might just "...float your boat..." !!!
catfishrmec,
WOW! What a superb website you have created.
I think you have done a thorough and unbiased job of it!
It even gives me an idea about creating a similar website for another stock that I own right now!
Welcome to iHUB. I think you will find this website a much more enjoyable place to post than Raging Bull is. This website is more about common decency to others than RB could ever hope to be!
Again, good job on the website and welcome to IHUB!
RMEC Investor Website Link for potential investors or current investors of RMEC. http://www.webspawner.com/users/rmec/index.html
Hello all!
I thought I would come over here to the IHUB from the RB board to spread the word about this website I have created. Any input from this board is greatly appreciated. Thanks!
Wouldn't that be fun..........
John
Park your Sub at the iHub - Bub; .....the experience might just "...float your boat..." !!!
50 CENTS IN THE NEW YEAR
I'd watch for it in Feb.
Rocky Mountain Energy Corporation ........................
Shareholder Update .....
We at RMEC wish to take this opportunity to wish you and yours a joyous holiday season. This will be our last communication prior to December 31, 2002 so please have a safe and joyous holiday season.
Houston, Texas - December 23, 2002 - Form 10KSB: Our year-end is September 30th. Our Form 10KSB (year end report) will be out per the applicable statutory period (by January 14th). The report only covers our initial start-up period, as we went public on May 29, 2002. Thus, this covers 122 days of operation during our start-up phase. Per our earlier press releases, during this period we dealt with the Marathon "credit line" matter and other start-up problems. There will not be much in the way of numbers to report; however, the "Subsequent Events" section will contain the details of our recent acquisitions and future prospects for the company.
Our business plan has always been to purchase oil and gas proven reserves and develop them to maximum cash flow. To that end, we have closed on the U.S. Oil Co. properties in Sweetwater, Weston and Crook Counties, Wyoming. These properties are producing current income sufficient to cover overhead, but need to be developed as they are mostly proved undeveloped reserves. The Raton Basin field in Trinidad is proved undeveloped. We need to begin development and have taken steps to do so. The above fields comprise approximately 250 billion cubic feet of gas in the ground. The upside potential upon development is quite attractive.
The acquisitions that will have the most immediate effect on our share value are those already producing current cash flow. To that end we are in various stages of negotiations with companies who are selling their high cash flowing fields. One of these, in the documentation stage, is currently producing 15,000 mcfpd (very nice), and is located in Campbell County, Wyoming near our current Weston and Crook County properties. Our plan has always been to mix current cash flowing properties with non-producing proved properties to provide the maximum value of current cash flow and earnings, with immense upside potential to fuel earnings growth from within the company's asset base. Our long-term prospects look quite attractive, as a result of our rapidly growing asset base.
We hope to have news soon on revenues from our properties. The large acreage positions which we acquire are geared to our operating philosophy, which is to be as self-contained as possible. In other words, where a company would call out third party vendors to service wells (daily or routine maintenance) or drill the wells, we will be as self-sufficient as practical. This takes the form of us owning our own pulling units, bulldozers and road maintainers, tank trucks, water trucks, drilling unit (shallow wells) and cement truck in each core area. This philosophy saves over 60% of capital costs and regular lease operating expenses, which savings then go straight to the bottom line and will be reflected in shareholder value. You will note that our acquisitions (large acreage positions calling for numerous proved undeveloped wells to be drilled) and future acquisitions (located near current holdings) lend itself to this operational style. Lest anyone give me credit for a novel idea, I wish to give credit for the successful business model to Evergreen Resources, Inc. (NYSE: EVG), which has been producing and operating in this fashion with great success. Ergo, if it works "why try to fix what isn't broke?" I am happy to let them take credit for the idea and thus add to our success.
Why Gas?
You will note that most of our reserves are gas. Why do we concentrate on gas? First, the overall price deck through 2005 is very high. You can lock $4.00 gas prices on the MERC (Henry Hub) at present for twelve months. Second, we do not import gas. Oil is imported. The current Mid-East situation is keeping the oil price high. I remember Desert Storm. The minute the war started and we took control of the oil fields, prices fell by $10 per barrel. Nothing in the current situation convinces me that oil prices will not fall once the US takes control here. Hence, we will build on long- term stable gas prices, not bet our future on the huge variations that oil can produce.
Comments: The above business plan is where our efforts are concentrated. In addition, my duty is to insure that the widest possible audience hears our story. To that end we are about to kick off a substantial investor awareness program. Other things are also underway, but more cannot be said at this time. We have recently received many shareholder inquiries regarding the volatility in our stock. While we do not control the price of the stock or the financial markets, as a long-term shareholder who has never sold any stock in the company, I share your concerns about certain false allegations that appear on the message boards. However, I would rather take the time to focus on the business rather than engage in responding to those parties who are attempting to act against the interests of our shareholders
Conclusion
In order that our employees may enjoy the holidays we will be on half-days December 24, 27 and 31. Our normal schedule resumes January 2, 2003. I will not be answering e-mail from December 24th through January 1, 2002, although I plan to visit the Raton Basin between the holidays.
It is at this time of year that we count our blessings looking back at the previous months. You are certainly counted among our blessings and your support is greatly appreciated. We wish you all a very joyous holiday.
About Rocky Mountain Energy Corporation
Rocky Mountain Energy Corporation, based in Houston, is an emerging developer of proven oil and natural gas reserves with assets in the resource-rich area of the Rocky Mountains. Rocky Mountain Energy's diversified production mix allows us the opportunity of cash flow with predictable production. Rocky Mountain Energy's strategy includes a property mix of producing and non- producing assets. The producing properties provide immediate net income and cash flow while non- producing assets will provide Rocky Mountain Energy with future development opportunities and, ultimately, reserves at a reduced cost. With a management team that has over 100+ years in the oil and gas industry, Rocky Mountain Energy knows how to increase production, expand profit margins and maximize field potential. Its team of highly qualified technical professionals can examine old wells and find indications of producing zones that have never been produced, as well as develop the known proved undeveloped reserves which are the basis of any acquisition.
Company Website: http://www.rockymountain.cc
Rocky Mountain Energy Corporation
John Ehrman
President / CEO
email: Jehrman@rmec.org
voice: 281 448-6500
.
"What is the point to posting something that is unverified?"
What I posted was not unverified, because what I posted was that there was a poster making unverified accusations. That is a fact. There is a poster making those posts. I did not post that his posts were true.
However, it appears that you are now saying that you have no proof either of it being true or false but that you are going to presume innocence until otherwise determined beyond a reasonable doubt. That is much different than your last post where you stated "the BK rumour is false". Do you not agree?
The presumption of innocence is fine, but if you have absolutely no proof either way, how is your post any different than the bashers? It is not.
This is a ridiculous arguement and I regardless of your point of view, I will continue to post to this board updates regarding happenings that relate to the stock in any manner, positive and negative. Feel free to contact Matt if that is a problem for you. Until then the only issue left to discuss on this matter will be after the rumour is proven TRUE or FALSE, since you cannot provide me any more help in verifying your claim that it is TRUE than the basher provided that it FALSE.
Until then I consider it unverified.
Robert
What is the point to posting something that is unverified?
I would like you to explain to me the
positivity of posting unverified information.
When I confronted the person on marketwatch
he too said it was not verified.
Robert, if you know someone with a digital camera
that can fly to texas and can digitally record the signature that appears on john's driver's liscense and compare that signature with a digitally recorded signature of the filed petition then that for me would be enough of a verification; of course I would need to be certain with a provided link so that I can see too. I would also have to ask John to email me his digitally recorded signature too and I would expect a third party's letter of auhenticity (from someone independent like a judge) to confirm that what I see
is indeed true exact digitally recorded pictures of the compared signatures.
Until then, posting unverified information is perpetuating
something which is not proven; and I believe that in America,
we are "all innocent unless proven guilty."
I believe there is also a law that clearly states that
any information posted on a message board or newspaper, whatever, which is unverified and which has a direct influence on the direction of a share of a publically traded company
can be interpreted as an attempt to manipulate the stock.
Since the post was made on rb without official legal verificatiion, and since the share has tumbled since,
the persons who began that process could find themselves
in an uncomfortable position as this will certainly become
an issue in a court proceeding.
There is a very clear diffence between
what is ethical and what is not.
First we investigate.
Next you get the digitally recorded signatures.
Then you get a court to authenticate the digitally
recorded transmition of the signature files via internet.
Once that is ready;
then you post.
Getting the proof after you post
whether unverified or not
suggests the possibility of it being true.
In America. the constitution says
"We are innocent until proven guilty".
As far as a BK filed petition is concerned,
the only thing proven was that the posts
are, to this day, were written, broadcasted
via internet message boards
without any officially legally binding
form of verification.
To continue to justify the right to re-post
the low standards of rb is like saying
the constitution doesn't matter.
But it does.
We're in America.
caz,
I did not state that there was in fact a bk. My point was strictly that there was a poster making that accusation, that it is unverified, and that regardless there will likely be some jumping out the window in the morning. Please reread it if you took it any other way.
My post in no way supports or perpetrates the rumour, whether it comes to be true or false. I am just trying to keep this board uptodate with events occuring over there.
In your post you say:
"I must insist that the "rumour habits" of raging bull remain at "raging bull"; and I hope in the future, when someone else
is spreading unverified lies (the bk rumour is false)someone else will not only clarify the truth, but will insist that the one who posted the rumour in the first place "apologize" to all the members of this message board."
I don't know how you know for a fact it is false as you have just posted. I have been unable to verify it is true or false. So if you are saying for a fact that it is nothing more than a rumour and will be proven to be false some time in the future, GREAT! However if you have no proof, your post would be not much different than the 'rumour' one we are discussing. And yes, an apology for making posts which turn out to be false is a very good idea. I don't know why you are trying to be so confrontational on the whole issue.
When I have adequate confirmation of the validy of that accusation being made on RB as being true or false, the issue will be resolved for me. Until that time, it is exaclty as I described it in my first post - unverified. If you would like to volunteer the information that validates your facts of it being a false rumour, I would appreciate it as it would probably save me and other some time in the future.
Rather than attacking my post, couldn't you just share the facts?
Robert
Dear Robert,
The week following 911 someone called me out of the blue.
He said he was worried. Concerned?
I asked why?
He said he was reading through the list of people who had died
in that tragedy and low and behold someone with exactly the
same name as me had passed away in the rubble.
He thought that maybe I was there on that sad day.
Or maybe it was my cousin.
He said he was very upset for the whole week.
The first 2 days he tried calling me but no one was there.
I was out of town, but Frank thought I was dead.
He went on to say how he cried. Literally lost it.
It is ironic how jumping to conclusions can hurt us.
I remember 2 years ago.
I was working in one of the city's finest steakhouses.
One day, the boss gets a phone call.
It was the bank manager.
He was informing the boss that he was late on his personal
loan by 3 payments and he risked facing the consequences.
Boss asked "What personal loan?"
Bank manager said your loan of consolidation for 35 thousand.
Boss replied that he never made such a loan.
The boss was a victim of someone who had assumed his
identity by re-creating the boss"s social insurance card,
birth certificate and medical card.
When the frauder was finally tracked down, it was a former
business associate who had done this to give my boss
a bad time; in a attempt to destroy his credibility.
Sound familiar?
The story I just shared with you illustrates how easy it
is for anyone with bad intentions, to assume our identities
and then to file an application for a loan, a car, other credit cards, an sometimes even a bankruptcy petition; while attempting to destroy our reputations in the process.
Once an application is filed (by someone pretending to be the person in question)it quickly becomes public knowledge and then everyone who is exposed to the info
quickly come to the wrong conclusion.
Was it coincidental that the message board at raging bull was
made aware so quickly?
Not by a long shot.
When I read a similar post on the cbs marketwatch
message board
I responded by asking the poster the following:
"Have you ever seen JE's signature on his existing driver's
liscense? Did you compare JE's signature to the signature on the complaint? Do they match?"
The person could not answer yes to the question.
And you even said it that it was unverified yourself.
So I then asked, if you claim yourself to be someone responsable, don't you think it makes sense to have that kind of verification?
He then went on to say that he jumped to the wrong conclusion.
I asked him "Who will apologize?"
The companys' reputation, Johns' and investors' sentiment
along witht the share price end up paying the price of the "misinformation."
I then asked "Who would benefit from spreading a rumour like this?"
The answer is clear.
Over the last month I have seen Raging Bull message board being used for the purpose of misleading investors with the
wrong information.
I must insist that the "rumour habits" of raging bull remain at "raging bull"; and I hope in the future, when someone else
is spreading unverified lies (the bk rumour is false)someone
else will not only clarify the truth, but will insist that the one who posted the rumour in the first place "apologize" to all the members of this message board.
Some new poster on RB tonight posting supposed pieces from a current JE bankrupcy filing. Authenticity has not been verified yet, could be bad-could be good. I have seen some pretty slick guys file bk as a debt relief strategy (ie. TRUMP) and come out better than before.
Prepare for a shocking and rough ride in the am regardless as many will get scared and jump out if it proves to be true.
Robert
New Long
My nephew introduced me to rmec last week. I lived in Trinidad for 3 years and know about the vast amounts of natural gas in Las Animas County. Am very excited to be a part of this company. Will be ordering my certificates soon. God Bless! Greg
Good Morning All...I am in for the long haul too. Things sure do seem quieter here...thank God for that one. Semper Fidelis.
I For One Bought It Long Term
That's what I did.
I think that is what you did too.
It was a good move.
Will take the time that it takes
to get to where that it gets.
The graph of the stock suggests
That the next resistance could be 10 cents.
That's when we could see a fury of selling/buying.
But then if something absolutely important
takes place before that happens
like an acquistion
then the share could rally.
In Fridays' letter he alluded to
An acquisition in the works.
If the deal is signed this week
then we will know about it this week.
If it is signed next week
then we will know about it then.
Between now and then
I suggest to either buy more shares
or take a nap.
If you worry about it day by day
you will go absolutely insane.
If you verify any penny stock over a one year period
What we are going through is a rough spot.
Rough spots do not last forever.
Dec. 16th stock closed at 11.5 cents
Is anyone here trading it on its moves or are most strictly holding for the longterm (relatively speaking of course).
There was a new acquisition in the works, anyone have any news on progress or details of it yet?
Robert
Is it John?
Just want to say it again John.
I like the tone of this message board.
It is so refreshing compared to rb.
Keep it up.
Did ou know that a community
has been set up at msn?
http://groups.msn.com/longfansofRMEC
cuz,
What makes you think my name is Jim.......
.
Park your Sub at the iHub - Bub; .....the experience might just "...float your boat..." !!!
Thanks for the info Jim
But all my money is tied up with rmec.
Please keep me posted (private).
Maybe you should set up a message board for that stock?
Most run-ups will retrace a bit prior to the next PR or positive 10Q.
However, news of a Canadian gusher of light sweet crude, with a billion+ barrel reserve, would probably be good for a 10-bagger. So, noone between 0.20 and 0.30 would give much of a flip.
URMP - DYODD, a gusher = kaaaaaaaaaaBOOOOOOOOM.
No gusher, and the price will continue around 0.20; small potatoes in the risk column.
John
Park your Sub at the iHub - Bub; .....the experience might just "...float your boat..." !!!
Jim, are you sure?
Could it be John/Jim that the price went up based on the
expectency of the "oil rig" announcement?
You sure that it won't retract?
Why do i ask?
Cause when I was told about RMEC, the chart looked the same.
Then RMEC retracted to where it is today.
Could happen again.
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