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Heyyy y'all! Takin' a walk down memory lane. Shout howdy out to all my RRGI buds. We had a time here on this stock, didn't we? Best wishes to all. Will this stock EVER go to the moon? Alice?
Well edog...lol...I'm speaking from experience and an important element to BESV/Blast is that most everyone I've mentioned in my earlier post has previously had formal run-ins with the SEC.
The point is that criminal referrals CAN BE obtained for repeat offenders. Like I said...just look it up to get an idea:
Civil SEC prosecution site...
http://www.sec.gov/litigation/litreleases.shtml
Most of these above involve first timers with no real reputations.
With proper documentation and provided information from interested shareholders an SEC criminal referral isn't as tough as you'd think.
Just my opinions here, of course. I cant wait to see the fruits of the m/a initiative...;^))
Oh, and as far as being "protected" by the law which you mention in your post...
The SEC is really a pretty interesting Federal animal...it's one of the few agencies who WILL go after a criminal referral for small time repeat offenders when given substantial proof of illegal conduct and conspiracy to the detriment of shareholders. Look through the SEC litigation site for countless examples.
Been there. Done that. Still have the contacts...;^))
Contrivance can masquerade as stupidity...;^))...em
You know the BESV BOD has handsomely rewarded themselves all along here while the company "invests" in various projects that have sucked up the lawsuit money...LOL!
There is quite a bit of amusing and curious verifiable history behind O'Keefe, McAfee, Peterson, MacDonald, Elias, Leviakis and others that most Blast shareholders don't know about. The SEC doesn't like repeat offenders.
I'm very interested to see what comes of this "merger and acquisition" dog and pony show that is being trotted out. I recently spoke with a BESV executive who coouldn't even maintain a game face while discussing the "merger initiative".
Let's see where the situation leads.
bman...Are you referring to the following oh so dramatic mention that hey shucks boys let's put it in BOLD:
"Item 1A. Risk Factors
Other than as described below, there have been no material changes from the risk factors previously disclosed in the registrant’s Form 10-K for the fiscal year ended December 31, 2010, filed with the Commission on April 12, 2011.
We Have Been Contacted In Connection With Various Merger And Acquisition Opportunities, Have Entered Into A Non-Binding Term Sheet And May Enter Into A Merger, Acquisition Or Similar Transaction In The Future.
We have been contacted by parties seeking to merge in us and/or acquire us and our securities. We have no definitive agreements in place to merge with or acquire or be acquired by any entity or individual; however, we did enter into a non-binding term sheet with a third party in October 2011, which, if consummated, would result in a change of control and business focus of the Company, provided that no definitive agreements have been entered into to date in connection with such term sheet. In the event that we do enter into and/or consummate a transaction, merger and/or acquisition with a separate entity or individual(s) in the future, our majority shareholders will likely change and new shares of common or preferred stock could be issued resulting in substantial dilution to our then current shareholders. As a result, our new majority shareholders will likely change the composition of our Board of Directors and replace our current management."
Read that snippet closely. It suggests to me the same BESV management/BOD/SEC sanctioned stock promoters circlejerk that we've all been used to watching...y'all do realize that with all of the interlocking directorates involving these boys that the chance of anything being left to the commons is prolly nil.
Isn't it odd that all that money gained from the BK lawsuits just went right down the rathole?
Ralphie...I'll step aside now and let you start posting as soon as you would please...;^)).
Well.....
I think things might get a bit interesting here soon...;^))
Stick around Ben, plz. I enjoy your posts about Blast whether you're a shareholder or not because you've been here a long time, Buddy.
At least it's heartening to see that all BESV filings are current and up to date. I don't think the mgmt and BOD are ready to throw in any towel here...they all have a lot of actual cash invested in addition to the shares they've acquired in compensation over the years.
There has been no deep selloff either.
Looking for some light here, guys.
LOL!...I love it when a pump crew comes in with no clue about actual trading history. Funny chit this week, lol.
The time to run this one was 3 weeks ago on pending news, boys...there isn't a bounce worth trading on this one with negative events/bad news.
Lol...it's already priced in from a long history of shortfalls.
Butkus...em
Blast Investor Relations:
John MacDonald
jmacdonald@blast-es.com
14550 Torrey Chase BLVD, Suite 330
Houston, TX 77014
(281) 453-2888 Ext. 5 (Office)
(713) 725-9244 (Cell)
They may have results on Friday but generally I'd suggest that it is unadvisable to put out ANY PR on a Friday after the opening bell...wait til Monday.
JMO.
Ha! You're right Ben...I edited it in time...;^))...em
Here is yesterday's 4:04PM email to shareholders from BESV/Blast management in case someone needs reference:
"Dear Blast Shareholders and Investors,
Solimar, the operator of the Solimar 76-33 well in California, has issued a press release indicating that the initial zone tested did not result in flowing hydrocarbons and that they are moving on to the next of two remaining zones to be tested. Blast intends to issue a press release of their own once all the zones have been tested.
To view their release, please click on the link below.
http://www.asx.com.au/asxpdf/20110601/pdf/41yzmcrc74sq3x.pdf
John MacDonald
Chief Financial Officer
Blast Energy Services, Inc.
14550 Torrey Chase Blvd.
Suite 330
Houston, TX 77014
281.453.2888
281.453.2899 Fax
www.blastenergyservices.com "
Solimar should have waited until ALL of the testing on the 3 depths was complete before releasing that info on the first zone.
JMO...but Blast was forced to issue that 4:04PM email blast to shareholders as a defensive counterpunch to the premature info on the 3 test zones.
JMO.
Agreed bman. Also agree with "Strike 1"...em
mik...I think you should read the PR more closely...em
Blast BESV put out an email to those who have joined their email notification list about that Solimar PR this morning, too. I received this at 11:12AM today:
"Dear Blast Shareholders and Investors,
Solimar, the operator of the Solimar 76-33 well in California, has issued a press release indicating that they are prepared to perforate the first of three zones they intend to test in the well. The resulting hydrocarbon flow rates and reservoir pressure tests are expected by late next week. Blast holds a 50% working interest in this well.
To view their release, please click on the link below.
http://www.solimarenergy.com.au/documents/110527_GHills_Testing_Program.pdf
John MacDonald
Chief Financial Officer
Blast Energy Services, Inc.
14550 Torrey Chase Blvd.
Suite 330
Houston, TX 77014
281.453.2888
281.453.2899 Fax
www.blastenergyservices.com"
Dang...Nice terms if you can get them...
"In May 2011, Blast obtained a $100,000 loan from Clyde Berg, who is affiliated with Berg McAfee Companies ("BMC"), the Company's largest shareholder. The loan bears interest at the rate of 25% per annum. The loan is evidenced by a promissory note payable on May 18, 2012."
THX Ricardo...agree with Ben...here is the direct link to the John Begg (Solimar CEO) audio clip about the Solimar/Blast 76-33 well...
http://www.brr.com.au/event/79082/sgy-increases-potential-oil-pay-to-over-135-ft-at-guijarral-hill-john-begg-ceo
One of the best parts is hearing how to pronounce "Guijarral"...;^))
lookingforopportunit...I do appreciate your comments...and I'm mindful of the gravity of an alias that pops up on an Ihub board with a 3 week history and a grand total of 7 posts:
http://investorshub.advfn.com/boards/profilea.aspx?user=253166
Thanks for your comments on trading practice and theory as well as they're quite instructive.
Why don't you call the company and bring the answer to the board regarding the hydrocarbon findings mentioned by another company's PR? Blast has a tendency to explain these material events more completely in their PRs. I'm sure one is imminent.
But...that's just my opinion.
Solimar's PRs are released for SGY (Aus) shareholders. It is an Australian publicly held company that operates under different rules and regulations than US publicly held firms. Having read their PRs, I'd suggest that Australian rules regarding the release of material information is different too.
Blast is not Solimar. To come on to a public message board dedicated solely to BESV/Blast and post that a PR was put out without profusely and accurately stating that it is the PR of another company besides Blast isn't kosher IMO.
That said, the Solimar PRs have a place here as long as they are identified as Solimar's only unless it is a joint release by the partnership.
JMOs.
That is PR from Solimar, not Blast...just mentioning...em
Well I'm glad that Blast doesn't spit PR/NR like SGY because it does get to be a bit much, lol. They're in a different business culture and I'm sure that BESV is amazed at the constant stream of PR from them.
It's nice to have them as an info backdrop, though.
SGY is not BESV...em
Do you have the link to that Solimar PR?...em
Hey Ben...
Thanks for taking the time and effort to post those figures and data. Very interesting to read valuation theorums and I know it's a bit of work.
Today the Blast/BESV Ihub boardmarks total 27. The most we've ever had was 35 in my memory which goes back 4 years 2 months. Anyone remember more than that?
Hope all that pub leaves a mark! Thx Ricardo...em
I'd agree about the 100K transaction. A close watch can also prove indications of "new money" buyers as those newly coming into a stock will easily hit the ask on initial purchases.
The average s/p price sensitivity doesn't emerge until a position has been established for most shareholders of any stock.
I trade buy/sells to the 3rd decimal point for positioning against other bidders as a constant strategy to assure fill.
It should be around 15 days to see what we truly have found now that the 10,500 foot drilling has been completed.
bman...I'm becoming a bit more educated about the buy/sell trade data as depicted on the Ihub "Trades" chart.
Today I was the purchaser of the 6700 shares @.165 at 12:33:23. It was a definite buy but was filed in the "sell" column because I bought under the ask. A MM filled the order from their shares I'm certain.
I've seen this occur many times over the past few weeks as I have been adding shares. (To those who watch the L2 screen, lol, most of those bids ending with a 2 or 3 on the 3rd decimal position with market maker "etmm" were mine) I had about 20-25 total transactions, all buys, and most were painted as "sells" because they were under the ask.
The "Trades" data compilation proves a sketchy true indicator for precise interpretation IMO.
Here is the link to today's 1:04pm PR...
http://finance.yahoo.com/news/Blast-Energy-Services-Plans-prnews-4269270031.html?x=0&.v=1
BAM!!!...em
I hope the daily painter hits that .17...lol...em
Interesting...BESV has just sent a "confirmation" email blast out regarding this morning's Solimar PR:
Received at 1:08 PM EDT 15Mar2011:
"Dear Blast Shareholders and Investors,
Solimar Energy, the operator, has issued a news release updating the progress of the well drilling in California, where Blast has an interest.
Rather than issue a similar progress report, we thought that it would be just as informative to provide a link to their release below.
http://www.solimarenergy.com.au/documents/110315_GHills_update.pdf
We are looking forward to issuing a Blast release once the well has reached total depth and the logging results are available.
Best Regards,
John MacDonald
Chief Financial Officer
Blast Energy Services, Inc.
14550 Torrey Chase Blvd.
Suite 330
Houston, TX"