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That was a kick @$$ trade out of the gate this morning. Merry Cristmas to someone on that buy!
To thine own self be true
Sorry guys and gals, when you have a person like FISCHER running your Co., you're screwed. It's a POS. ROFL Fischer should be prosecuted, That's my opinion. This thing keeps going down for a reason, and people like myself didn't learn from people b4 me and therefore lost $. You do not know who to believe here, but all his companies seem to go down. That's how he makes his $ I suppose. Live and learn. I neither own nor short shrs in this Co. Have shrs in another of his now shells or almost shells. Just do not believe in the jerk that screws everybody. Sorry that it is tax selling season on top of lows for the year. This is my "truth" at least. GL getting out.
Who did the Lab tests on Fracsolv??
Where are the results??
jmo
Hopefully field testing results will be available soon on FracSolv.
Westmont's "FracSolv™" Successfully Completes All Laboratory Tests Opening the Door to Enter $32 Billion Hydraulic Fracturi...
PrintAlert
Westmont Resources (PN) (USOTC:WMNS)
Historical Stock Chart
3 Months : September 2011 to December 2011
Westmont Resources, Inc. (OTCQB: WMNS) ("Westmont"), announces today that it has successfully completed all five laboratory tests required to begin field usage of "FracSolv™," our all-natural 100% biodegradable and environmentally safe fracturing solution for deployment in the oil and natural gas drilling industry. FracSolv™ was developed exclusively for Westmont. The final 6-month laboratory freeze test was successfully completed on September 21, 2011 opening the door for full field-testing and application of the product.
FracSolv™ is a Surfactant based, Anionic Polyacrylamide (PAM) that acts as a stable colloidal particle dispersion solution. The micro-particles in FracSolv™ utilize the mechanism of disjoining pressure once the micro-particles encounter a discontinuous phase. FracSolv™ acts to separate oil and natural gas from the formation's surface, thereby accelerating the recovery of oil and natural gas reservoirs. The FracSolv™ solution has no systemic toxicity to any aquatic organisms or microorganisms and remains 100% biodegradable and environmentally safe throughout its useful product lifespan.
"FracSolv™ solves several problems in hydraulic fracturing water handling and disposal, while lessoning long term environmental liabilities for natural gas companies. FracSolv™ is a cost effective and environmentally sound component of an integrated frac water management system. The FracSolv™ process assists in separating oil and natural gas from the wastewater and reducing the total dissolved solids below current EPA and State drinking water standards of 500 parts per million," stated Bruce Fischer, Chairman of Westmont.
The FRAC Act (2011), would require energy companies to disclose chemicals used in hydraulic fracturing, and most importantly, close a loophole that exempts drilling operators from drinking water regulations. FracSolv™ meets these standards today. "As we recognize the need for energy independence through oil and natural gas exploration, it is imperative to ensure the process for extracting natural gas be done safely and responsibly. Our company is guided by solid scientific principles innovatively applied to benefit industry and society," stated Glenn McQuiston, President of Westmont.
I'll be interested to see updates on these production numbers from June. Hopefully they will be coming out soon.
Westmont Resources Increases Oil Production in Pennsylvania and West Virginia PrintAlert
Westmont Resources (PN) (USOTC:WMNS)
Historical Stock Chart
6 Months : June 2011 to December 2011
Westmont Resources, Inc. (OTCQB: WMNS), announced today that they have completed the review of the June 2011 production revenue for operations in our 3,400 acre leaseholds in the Marcellus Shale region in the southwest tier of Pennsylvania and northwest tier of West Virginia. Preliminary production on the leaseholds has 41 working wells, of the 120 currently drilled on the properties, producing .6 to .9 barrels of oil per day per well. Total daily production is averaging 29.93 barrels of oil per day from these 41 working wells. June production totaled 891 barrels or $112,526.30 in gross revenue from production.
Westmont began implantation of Phase 1 of it operations plan to increase production to over 3,500 barrels per month by the end of the 2011 calendar year. Westmont anticipates placing into production an additional 12 wells by the end of July 2011 for a total of 53 working wells. We anticipate revenue to increase to over $145,000 per month by the end of July 2011 from the production of these first 53 working wells. Upon completion of the first phase of our production program, Westmont anticipates having 170 of the 212 existing wells in production earning estimated gross revenues of $321,300 per month based on current oil pricing in excess of $90 per barrel.
"Our specialty is applying cutting-edge technology in order to 'wring additional value from' long-lived, low risk natural gas and oil properties - To squeeze more oil out of mature basins. These new Pennsylvania and West Virginia assets are an excellent fit with our existing core areas and will expand our portfolio. Phase 2 of our production program will include the implementation of our patented, proprietary technology to increase production by a factor of 6 with anticipated production in excess of 5 barrels a day per well. Our estimated monthly gross revenue would increase from an estimated $321,300 to over $2,295,000 after implantation of our technology on all existing wells," said Glenn McQuiston, Westmont's President.
WMNS will be going Triple Zero before long.
jmo
Another $98 paint job. Must be insulating someone from some pain on this STOP sign Co. Have there been any recent pumps on this failed or otherwise?
Don't worry it's not real! LOL
If this Frac Solv thing is real, looks like Fischer stole it form the shareholders of NUEC. NUEC went down the tubes. Why Fischer is not in jail I'll never know. He knows how to play us penny givers with high return stories that seem to have validity. . until they just stop answering the phone. WMNS might still be a good short candidate. Good luck everyone and may Fischer rot in hell.
If FracSolv is real this should get going come next quarter. It shouldn't be hard to find investors and companies willing to make a go at it. Wyoming going .... and now Colorado (heard last night on KOA 850 am) is wanting to protect the water.
How come the phone goes straight to the answering still? Do we need to call the finance company (same owner) instead?
When it gets to where someone answers the phone, then buy, buy, buy.
Nope annual Reverse Split monkey dance time... People washing their hands before the big event! A standard tradition with the DOC Fisher and crew!
bargain time at the WMNS window.
Wow! Insider trading? Bad news, or share dumping for capital?
Seems to me that WMNS is building a solid base. Only a matter of time till news hits and this starts heading upwards.
Just another Fischer scam it seems.
jmo
awfull quiet in here? Did you hear that Pin drop? This stock is down over 90% since the last RS at the first of the year!
LOL just like the money wasn't there to pay the dividend but was public stated that it was fully funded.... This CEO is a pedagree certified theif and Fraud! There is no Frac solve... It is just a figment of Fishers imagination....
Because that CEO has ONLY been involved in one scam after another, including stealing investors dividend money from ANVH.
If I was the CEO I would perhaps know that answer. But being that I am not, I can simply speculate that possibly the money wasn't there to stay fully reporting. Sometimes it's more of a priority to put your money elsewhere.
Then why did it go from a fully reporting company, to totally non-reporting ?
Sometimes the past is an indication of the future. Sometimes you need to forget the past and move on. I guess I'm lucky enough to have been here after the reverse split and at a good entry point.
Being from PA and having a family cabin in Northern PA, I am very familiar with the issues that fracking has brought to the area. Hundreds of contaminated wells is just the beginning for the people in fracking areas.
apparently you don't know much about the CEO of this company? Bruce Fisher the scam thief
Down > 60% in a few months.
jmo
READ BEFORE YOU BUY !!
http://www.otcmarkets.com/stock/WMNS/quote
I wouldn't get too excited if I were you. This sham company does not own any wells, any rights to any wells, nor is there any product called FracSolv...all are figments of Fischer's imagination, which is the only productive thing about this or his other fake companies. I challenge you and anyone else to find any proof anywhere that such a product exists outside Fischer's own PR's. Perhaps you could ask Marcie Corbin.....but, wait...I forgot....there is no such real person.
That's what we expected. We need info as to when you (WMNS) plan on using it. As the requirements are not cheap. Perhaps 1qt QTR long enough to drum up business post release. If I were your banker I'd bankroll it if Penn. and other states approve it for fracking shallow wells.
Don't you read your own posts, as that PR was from November of 2010 ?
Insider Trading Warning
This company may not be making material information publicly available.
If you are an affiliate, employee, insider, or any person in possession of nonpublic material information about this company, please be advised that buying or selling this security may constitute trading "on the basis of" material nonpublic information prohibited under Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5 and 10b5-1 thereunder. Violators of these laws are subject to civil and criminal penalties.
Since they have to pay 250K once they start using FracSolv and a quarterly amount and the new quarter beginning then maybe we'll see an update this week?
So much for this stock, and the dubious Dr. Bruce Fischer.
This went from a fully reporting company that was OTCQB, to a totally non reporting pink, no information at all, since last April.
I just looked.
http://www.otcmarkets.com/stock/WMNS/quote
It even shows the STOP sign.
Do not touch.
Beware.
First you said it was an email from the CEO that an 8K was required prior to the release of results .... now its Your Opinion???
lolol
jmo
A post somewhere else about an 8K being required???
Sounds like incorrect information or insider information.
jmo
Honestly, I read a post on another board about the CEO having to file an 8k as recommended by the company lawyers. This means it's probably a material event!
how? sorry but as you know, I think that is the first post I read yours and you have that information?
got in with a small position at .019
thanks to Atlanta1 for some great DD!
Goin higher imo! gl
if I'm waiting, they said on September 21 ended last phase, perhaps the movements of the last few anticipate a good thing
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Westmont Resources, Inc.
1621 Freeway Drive
Suite 209
Mount Vernon, WA 98273
As of August 2,2010
Authorized Preferred Shares Class A : 10,000,000 Class B : 15,000,000 Authorized Common Shares 775,000,000 | Issued Preferred Shares Class A : 130,000 Class B : 1,000,000 Issued Common Shares 52,798,660 |
It would cost almost $5 million to drill one new well. For every 10 wells you drill, only 6 of them will produce oil. With similar funds this company will be able to rehabilitate 92 proven wells that are known to produce oil and natural gas. Therefore, they will have much lower startup costs, much less risk and will reach profitability much sooner. Technology, developed since these wells were abandoned, now indicates significantly more reserves and enables their extraction. The two senior-most executives of the Company are both from Pennsylvania and have extensive industry contacts there and have intimate knowledge of the unique local business culture. Therefore, they have a decided advantage over outsiders in locating the necessary existing wells with high oil and gas prospects and negotiating the leases for the same. For this reason the Company expects to successfully out maneuver others to secure the most desirable available leases. It is a niche market that through their industry contacts, business relationships, extensive research, study and planning they are uniquely positioned for success.
While the Company’s focus is to “roll-up” the low hanging lease fruits below and beyond the radar of the majors, they equally have concluded that, once they meet critical mass, their most likely exit strategy will be a major. That’s where the Company sees an opportunity to profit. Instead of trying to compete with the major oil companies head on they plan to position the Company as an acquisition candidate when the timing is right for both parties. Simultaneously, the major oil companies offer a profitable exit strategy for investors.
A number of small companies have successfully followed this strategy of buying up leases too small for the majors. These are then aggregated into a larger “rolled up” pool, with the resulting pool sold to the majors at a significantly higher multiple and at a significantly higher profit. During the initial Phase One, the Company expects to produce approximately six barrels of oil and 75 MCF of natural gas each day from each of its 92 Wells, for a total of 552 barrels of oil and 6,900 MCF of natural gas per day. While these are very conservative figures, the profits are significant. Consider that several major oil Companies have done test drillings on land featuring the same geological structure within ¼ mile of the Company’s lease holdings. These test wells are producing, on average, 22 barrels of oil and 300 MCF per day.
Westmont Resources Directs Accounting Firm to Perform Audit on 92 Well Acquisition in the Chattanooga Basin; Westmont's Management Currently Estimates the Potential and Probable Reserves Associated With This Acquisition to be Valued in Excess of $200 Million
SEATTLE, July 29, 2010 /PRNewswire via COMTEX/ -- Westmont Resources, Inc. (OTC Bulletin Board: WMNS) ("Westmont"), is pleased to announce it is directing its auditors, Malone & Bailey (M&B) of Houston Texas, to perform an audit of Westmont's previously announced acquisition of 92 oil and gas wells in the Chattanooga Basin. Westmont's management currently estimates the potential and probable reserves associated with this acquisition to be valued in excess of $200 million.
Westmont is focused on "wringing value from" long-lived, low risk natural gas and oil properties. Currently the company's efforts are primarily in the emerging Marcellus and Chattanooga Shale Plays in the Appalachian Basin and in the vicinity of other major oil company discovery wells. "Our current operations are centered on taking existing properties from others and creating more value from them for our shareholders. We specialize in applying cutting-edge technology to squeeze more oil out of mature basins. Its our core competence," said Westmont's incoming President, Glenn McQuiston
Malone & Bailey, based in Houston, is one of the most experienced public accounting firms in the oil & gas sector and has extensive experience and expertise with publicly traded companies. The firm is registered with the Public Company Accounting Oversight Board and is an independent member firm associated TIAG and MSNA.
The firm will perform their work under the direction of Marcie Corbin, Westmont's Vice President for Corporate Development and Finance. "Both Marcie and I are very happy to have an experienced and very qualified firm to complete the audit of our acquisition of 92 wells in the Marcellus/Chattanooga shale basin," said Mr. McQuiston. "We look forward to moving forward with our business integration and planned growth strategy of acquiring additional wells after timely completion of this work.
Ms. Corbin added: "An important component is the audit by Malone & Bailey which will include this transaction and enable us to account for the significant reserves which the management expect to be valued in excess of $200 million."
Westmont Resources Completes Letter of Intent to Acquire 1,800 Acres of Natural Gas Leases in the Marcellus Shale Play with 60 Existing Wells and Potential Reserves Associated With This Acquisition in Excess of $54 Million
BELLEVUE, Wash., Aug 02, 2010 /PRNewswire via COMTEX/ -- Westmont Resources Inc. (OTC Bulletin Board: WMNS) today announced that they have completed an agreement that will extend Westmont's reach and resources with the acquisition of 1,800 acres and 60 existing wells in the Marcellus Shale region in the southwest tier of Pennsylvania.
Preliminary estimates indicate that the value of the reserves associated with these 1,800 lease acres in Westmoreland County of Western Pennsylvania from the existing 60 wells located on the leases could amount to nearly $36 million. Westmont believes that with additional exploration an additional 30 wells could be drilled on the leased acreage increasing the potential reserves for the entire project by an estimated $18 million, or a combined estimated value for the new Pennsylvania leases of $54 million USD. This is based on the company's review of other assessments and production in the immediate area.
Westmont Resources has been working to obtain oil and gas leases in the Marcellus and Chattanooga Shale Region. Representing roughly 61,000 square miles, stretches from Upper New York, through western Pennsylvania and into eastern Ohio and most of Kentucky and West Virginia and parts of Virginia and Eastern Tennessee. It is believed one of the richest natural gas fields in the World. In early 2008, geoscientists at Penn State Univ, and SUNY Fredonia estimated that the Marcellus & Chattanooga contains more than 500 trillion cubic feet of natural gas. These reserves represent more than 2 times the current reserves located in Saudi Arabia. The shale contains largely untapped natural gas reserves, and its proximity to the high-demand markets along the East Coast makes it an attractive target for energy development.
Westmont's portfolio, in addition to this most recent acquisition in the Pennsylvania Marcellus Shale region, includes development of two significant blocks in the Chattanooga Shale region in northern Tennessee consisting of 92 wells, and an additional 1,650 lease acres in West Virginia. "Our specialty is applying cutting-edge technology in order to 'wring additional value from' long-lived, low risk natural gas and oil properties - To squeeze more oil out of mature basins. These new Pennsylvania assets are an excellent fit with our existing core areas and will expand our portfolio," said Glenn McQuiston, Westmont's President.
Westmont Resources Inc has initiated a regional geologic study to identify prime leasehold areas along with the identification of passed up production in existing wells. Westmont Resources Inc Corp has identified several acquisition targets operating in the Cumberland Plateau region of Tennessee. The Company has completed the acquisition on 92 under developed natural gas and oil wells as an initial entry into the region.
Many of Westmont Resources Inc’s acquisition targets are wells and leases not adequately served by pipelines. By having the capability to build its own gas gathering systems and pipelines, Westmont Resources Inc is in a position to acquire and exploit shut-in gas wells and those wells whose profitability has declined due to interrupted service.
Additionally, revenue is generated by transporting gas to market for other producers maximizing production with a functioning gathering system in place, Westmont Resources Inc will be positioned to maximize production of existing wells by proper engineering practices such as well stimulation in the form of nitrogen or acid fracturing.
The leaseholds property owned by Westmont Resources Inc, are located in Scott and Morgan Counties in Tennessee, which is comprised of 92 independent leasehold permits. The independent leasehold permits are being recorded with the County and the Bureau of Land Management.
Initially, Westmont Resources Inc is focusing its attention on the Appalachian Basin in Tennessee.Tennessee's Appalachian Basin is a topographic feature capped with approximately 600 feet of Pennsylvania Sandstone. Oil and gas production from wells in Westmont Resources Inc's area of interest comes from the Monteagle Limestone, Fort Payne Limestone, Chattanooga Shale, Trenton-Black River and Know groups.
Monteagle Limestone - Consisting of 200-250 feet of massive limestone with shale beds. It is consistent oil and gas producing formation. The average barrels of recoverable reserves per well is in the 20,000 barrels range. However, many Monteagle gas wells have produced 5x this amount of gas due to natural fracturing. Other Monteagle gas wells in the area are still producing commercial quantities of gas after 30 years.
Fort Payne Limestone - This formation consists of massive limestone with considerable chert. The thickness is 10 to 150 feet. It is a very prolific producer of oil with a small amount of associated gas cap. The generally accepted standard for primarily recoverable reserves from a Fort Payne well is 50,000 to 60,000 barrels, although some wells have produced more than 200,000 barrels and are still producing.
Chattanooga Shale - This formation is usually 30 to 60 feet thick and lies just below the Fort Payne.To the north, this shale thickens to several thousand feet and is the source of the majority of gas production in eastern Kentucky. It is characterized by relative low flow rates with large recoverable reserves over a long period of time. New stimulation techniques and high natural gas prices are combining to make shale an attractive target.
Trenton, Sunnybrook, Stones River - These formations consist of thick-bedded limestone with minor inter-bedded shales. The combined thickness can be up to 1,500 feet. These formations are the major source of oil to the west, where wells of up to 1,700 barres of oil a day have been discovered at depths of less than 2,000 feet. In the Basin, these formations have not been tested. Recent increases in oil prices has sparked interest in considering drilling deeper to test these formation.
Knox - This formation is a massive, dolomitic limestone, the thickness is in excess of 2,000 feet. There is very limited oil and gas production from Knox wells in this area of interest. However, the Knox produces oil from shallower depths to the West and gas and oil from deeper depths to the East. This makes it interesting for future exploration in this area.
Recently the company acquired a 70% working interest in 92 oil and gas wells covering more than 30,000 acres. These are wells that were profitable, proven oil producers back in the 1940's and 1950's, before the remaining oil became too costly and difficult to extract and they were abandoned. In addition, most of these wells suspended drilling operations well before the now known pay zones which sit on top of and include the Chattanooga and Marcellus Shale deposits. Extraction technology and the price of oil have both advanced quite a bit since then and now there’s money to be made from these previously abandoned wells. Two hundred feet used to be a common depth to drill in this region. Drilling to 2,500ft and well beyond is common today, but, was just not practical then while that is the average depth of the majority of this region’s oil and natural gas.
In fact, today, drilling to a depth of 25,000 ft is not uncommon and oil is no longer $5.00 a barrel. The result is that those heretofore old dried up wells have become gold mines, but still too marginal for the majors to focus their massive operations which require massive productions and extractions to justify their involvement. They demand the potential of tens of thousands of BBL/Day to justify their sinking pipe.
The Appalachian Basin is America's oldest producing basin. Renewed interest in this region has led to the discovery of other production opportunities. Historically most of the drilling has been done at relatively very shallow depths. Over the last several year’s deeper production zones have been discovered, such as the Chattanooga and Marcellus Shales. There is reportedly strong evidence of major production zones deeper beneath the Marcellus Shale of even greater potential yields.
Place all wells back into production at current well depth, by repairing well equipment, lines and cleaning well casing - estimated production levels 25 to 40 Mcf per well per day and 3 barrels of oil per day.
Redevelop all wells to an estimated 1,500-2,000 ft vertical depth to take advantage of the three known pay zones in the region (Monteagle Limestone; Fort Payne Limestone; Chattanooga Shale). Estimated production levels are anticipated to increase to 75 to 120 Mcf per well per day and in excess of 6 barrels of oil per day. These levels have been demonstrated in several completed vertical wells in the area.
Redevelop all wells using the most advanced technologies in vertical and horizontal drilling linked with modern fracturing methods to take advantage of the higher yielding Chattanooga Shale zones. Estimated production levels are anticipated to increase to 150 to 300 Mcf per well per day and 9 barrels of oil per day.
The Williston Basin is estimated to contain between 271 billion and 503 billion barrels of oil identified as the "Bakken". There is a high probability that a second major play may be under the Bakken identified as the "Second Bakken" or "Three Forks Spanish" formation. The Company has signed a letter of intent to Joint Venture with a successful operational explorational Company that has 65,000 acres under lease and over 30 years of drilling experience.
The Company recently signed a letter of intent to Joint Venture within Eddy County, New Mexico. The Company's JV partner has access to 7,800 acres of leased land for this exploration and development. The project potential is currently estimated at 3 MMBbls of oil equivalent.
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