Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
How much time do you have and what wouls u think u would offer?
Thank you. It affirms my belief randy was a good man not someone trying to make a buck and swindle investors. Little value in officenfurniturr. Im looking at well as value. Are u looking at buying assets in trustee sale? Is this what you do?
Save yourself some time. Office closed leases void now no more money to continue operations. There is no question its chapter 7. What shareholders woule like to know is value of assets as the debt was not much. Even if stated lets say 15 million what will it fetch? The real value is in wyoming question is will they be able to sell the well bore and equipment? If anandarko allows it maybe something left...even 1 million could flow back to shareholders would be .02 a share...not fetting anyones hopes up...i consider it a loss now but this isnt ovef until next week...stay tuned
Since you are familiar with area and maybe people, perhaps you knew Linda Payne and can speak to her ability to be fair and work hard to maximize asset sales...
I know details of the company especially public info was looking for something not known.
I see , i was looking for something more informative.
Ibhave trustees info already. What can u tell us based on having had worked there? Can i give u a call if so, please reply to me in publjc your phone number.
It will depend on new asset valuation based on oil prices. I dont think they are zero have to establish some value based on an avg price. Once the schedules are filed ill post info here. I think and have always thought there was value but it wasnt the debt to asset ratio that caused collapse they were good until 2016 with debt payments it was deterioration in business operations...income droppedncant pay people to be around and no deal materialized to keep going...the anandarko lease expiration neared what can u do? Ask the xourt appointed trustee to be honest and fair...i sincerely hope trustee works hard to extract maximum value
Thanks you Randy for your hard work at trying to build shareholder value! Market volatility and commodity decline killed our chances to see Armada become a high-growth entreprise not your lack of leadership vision and experience!
Folks, Randy didn't give less than 100% of his effort and was the biggest loser (time and his shares).
I am not selling my shares at this point. At this point, why do that? Give some shortseller a cheap way out? Nope, they can pay .009 like what happened today for 50k at end of day.
For many of you traders, time to move on...i saw the volume one person sold out or maybe two small holders.
The value remains and I'm holding out for a unique scenario that may unfold--I am not living in denial! I consider this a loss now.
However, properties were just purchased for $6 million before crash. Surely, that could cover the debt. Then what about the well? I would expect more than a million for the almost $6 million it cost.
The only concern I have is the honesty in dealings from court-appointed trustee and any other unscrupulous actors in picking up the assets.
Randy did his best, the deadline neared to drill wells on anadarko farm out and it didn't happen.
Only silver lining (I know you don't want to hear it--but remember stock was already at .01) that the lease is not void due to BK filing so anadarko has a choice...let trustee sell the lease to get some money back and have someone come in and complete the well and extract value. If anadarko does nothing or says no, then you have armada property sitting there wasted which cost too much money to forget.
Maybe a gambler comes in and buys the well with the risk of not being able to do anything to it because they can't own the mineral rights...
This is a very interesting lessons learned to me and I consider this education in the oil business during these tough times. Randy was on track to build a good company but he hit some bad luck no one could foresee.
Good luck all, please chime in on your thoughts of Chapter 7. I nkow usually nothing and chapter 11 usually nothing but they didn't go chapter 11...business had to stop couldn't make money anymore...contracts with creditors stop...only owe would they owed to the date of filing...could be something.
--possibly more than 500k in value right? also, how much would a trustee cost each month?
Any day now? We will know if Armada can live or die as a business entity or at least "SURVIVE A LITTLE LONGER."
Usually, results would be out by now. Something tells me they are being late for a reason. That reason has to be connected to HOPE. As with all HOPE, there is risk. I hope that the risk is not too great at the moment (chaos in markets) that the leader of Armada (Randy) can't make once again turn nothing into something.
Good luck all.
Joe, have u talked to CEO? What do u mean he doesnt follow up? He has communicated to shareholders. I think u mean the company has not executed successfully on plans. This is the case ans it wasnbad timing not due to his failure...ive been there ecery step of the way following this plan and witnessing the why. Armada succeeded at drilling the wyoming test well and sold off property before the crash. They monetized assets in lousiana when they did that raised 10s of millions to fund the acquisition drilling program and other costs. I was always co sidering a crash in oil or economy and it came so quickly that the pendinf acquisition fell through but maybe that was good since at current price of oil it wasnt worth it. Now they need a partner and its goign to cost all big legacy shareholders like it costed u in past and me today. Shorting at this point is not smart its at .018 its already at bottomr priced for fsilure. Im holding. Ceo is a good guy call him talk to him hes not a salesman hes a straight shooter.
Not to happy about stock price but considering the industry I understand the situation.
Armada is still poised for success if it can take advantage of low operating costs in this environment but how to ge there is the real issue.
The stock price is priced at par value almost. Its priced as if the company failed. I suspect someone still buying and market maker still making a market selling. At what point will this be done? Who knows. At this price investors can declar worthless and write off but will they actually sell the stock?
I've purchased more shares here but it does nothing to support the price which from experience indicates value hunters or someone in the know trying to get the cheapest price out there.
If Randy can pull this off (he has before) and not sell the company for the current market cap (by issuing about the same amount of shares outstanding) we can see a sharp turnaround.
This is a highly speculative proposition and may not materialize so don't throw all your money in here thinking it will happen. I will say its worth the reward at near .01 to invest something here. Large caps are not going to see any value creation wihtout oil prices rising.
Small companies, individuals drilling wells will see upside long-term if they can last 2016 in the black...which is hard.
good luck.
Technical analysis wont work to predict the movement hear...unless you and a few other traders going to try and run this up to define the future...the only catalyst is the oil sector company news or steady buying from someone in the know...i have been buying only to see this tank on low bids...i suspect you and roy are the ones buying cheap...wonder how much market maker has left to sell before buying again...good luck
Hello Roy,
What caught your eye? The percentage gain last week? Are you a shareholder?
AOIL at a standstill until new financing or acquisition. Needs assets and income to turn on the lights. I was really worried about oil prices plummeting and/or stock market before end of year 2014. Oil prices happened, stocks didnt right before I could buy put options on oil to hedge against this position. Randy is a smart guy, he's turned poop into ice cream before so I think he can pull it off. Plus he has a big interest to do so.
My concerns are operating income to cover expenses (randy decided to forfeit salary).
2. Finding a partner to start drilling in Wyoming and generate revenue and pay off or settle the cost overruns drilling the last well (creditor filed lien).
3. New financing since the line of credit is now a term loan with deadlines.
4. Aquire new properties.
Looking forward to something happening in the near future. Now is the time to buy on the cheap maybe not the first thing that presents itself but after a few looks.
Good luck here, oh I forgot I think one of the directors is going to have his shares reset to a lower buy price as a result of the stock decline. James Cerna I think. This could or could not be the cause of added volume and price declines to .035.
germanium they are filing the 10-k not Q4. They are not late. You sold off all your shares? Good for you, always up for a trade to preserve cash. Hopefully you will buy more here.
I'm offering sellers .072 x 50000....no rush to buy more, if you need to close out position its the best I can give you right now...take it or leave it.
I wouldnt look too much into increase on friday...someone doesnt know something is going to happen or because oil prices are rebounding...its simply because i bought 75000 shares in 25k lots at the ask and ask moved higher...i could have bought at .06 .062...but at these levels i dont care...i just bought when i wanted to buy...i know there are some deal chasers trading here for a few hundred bucks but not enough shares or volume to do this successfully so its not a market profitable enough to make...good luck there is value here...dont forget low oil prices create higher oil prices and luckily armada disposed of assets and reduced debt expense...i anticipate g&a will drop and i hope randy cuts salary during tough time...randy u can get it later...share our pain
A bit of an overreaction to the news presents a buying opportunity especially in the midst of end of year tax selling. This is the time to buy. This is based on 6.5 million purchase of kansas property which could be sold at or for more that 6.5 million minus remaining long term debt of 3.4 million plus value of niobara lease. They got the hard work done spent 5 million for the test well i dont have actual data but it sounds positive to justify at least have the 13.8 million in value associated with that lease. There is value of at least 10 million here. Im holding and picking up when i can...late here today...lots at .08 and .09 earlier. I think the oil decline is not significant at the moment because they were not going to drill right now...the potential acquisition was pricey and its better to wait for when the dust settles...
Looking dire right now...fingers crossed...i remain hopeful..mgt seems to pull off the impossible...keep working it randy! Ask shareholders to put up money to raise cash...oil decline wont last long
I'm not sure I'm following as to why today? last I remember is they had until the 24th to finalize the deal. But I'm committing to memory and that is my calendar date to remember. Being that its close to holidays I doubt we hear anything by then. The feeling I get is the deal is done, we are waiting for things to be put on paper and will hear about the actual terms and most importantly---with high hopes---about results in wyoming bear creek.
Then we move on to what the next date for drilling is, after winter/during winter and projected expenses/planning effort going forward.
Things looking brighter for AOIL. Take a deep breath everyone, oil prices flat now, waiting for OPEC news...no cut equals further downside...a cut means back above $80.
Question I have is Russia done playing hardball because if not, this will not stop!
Hello diy_investor,
I thought the same thing. How can you borrow that much. Well, its not new if you buy property with proven reserves and production. They will value assets and loan against that. I think they may be working something quitely in regards to Wyoming. I find it fascinating that nothing has been said. I'm optimistic its for good reason. Any day now we should hear if they get the loan or not.
Oil seems to be bottoming out...traders covering shorts...with all this fear I think oil will slowly recover to a world-required level.
good luck all...maybe, just maybe our time is near.
I hear you! Only thing keeping me here is my faith that CEO and other insiders have too high of a vested interest to let this fail by poor choices. I think management is trying to grow this slowly and avoid hype...my only worry was oil prices as I expected a decline this year. It's really a no brainer on oil prices, U.S. production increases, Saudi's at odd's, Russia not being nice, somethign going to happen but for how long? Based on futures prices--its anticipated to be higher than today so I can't panic yet.
million dollar question is will Armada go through with the purchase?
Armada can opt out,"... such oil price on the business day prior to the closing date is less than $76.74 per barrel."
That's tomorrow 11/14. WTI January Futures as of today according to Yahoo Finance is $76.85 5:24PM EST
Yes, the plan is to acquire the property they mentioned in last press release. If the price of oil is below the price they mentioned Armada can walk away and keep the 100k.
I think with declining prices it really does help buy cheap assets and drill for less when prices drop but they need the money. The cost to borrow the money may increase though.
I'm anxious to see what is on the table after Nov 14.
Days away from turning point. November 14 is right around the corner. Either they raise funds and begin producing to validate their existence as a public company or they give up and cease existence.
I think there is too much on the line to fail and at the minimum management may be setting the company up to weather uncertain times in the oil market. High risk, expensive exploration efforts are counterintuitive here.
Better to build up cash flow and maybe hedge production until OPEC decides to regain control or give up influence on the markets. I think that if Saudi's do nothing in November that signals the beginning of cuts for many oil producers which will balance out the excess supply and the price will recover.
This could be good as prices for equipment and labor may drop out of desperation and maybe Armada management can capitalize on that in the future.
I bought more during recent trading days. Good luck
Acquisition of 16,000,000 plus? That's alot of money for a 190 BPD. Is there something behind this all? Anyone familiar with the formation? history?
Market cap is currently 10 million. Equity and debt offering is going to stretch us a bit. I'm ok with it if there is true value in the assets and not another gamble like "old armada" based on probable reserves in the region.
Also, would like to know more about progress on that front.
Any input or did everyone dump out at this point?
Anything new? Oil prices stabilized guess Saudis feeling the pressure of anything below $80 so maybe that is a floor...fear mongering about collapsing oil prices dissipating.
I suspect an offering on the table for shares to raise funds or maybe a convertible debt offering looming. Moving shares up in anticipating of such a move.
Any thoughts? Any communication with management?
I wouldn't count on any increases there to effect the bottom line. LA is a thing of the past and I suspect we have not heard anythign because of the fear in the oil markets. Everything was rosy just a month ago and now oil majors selling off assets. Armada was trying to acquire properties and raise capital...there is no way that can happen at this time without taking a big hit on equity or high borrowing costs. I think they are waiting it out. My recommendation to managemetn would be right now is to cut their salaries to break even with small production revenue until they come up with a plan to profitability....
Message to Randy Griffin: Please coordinate a temporary salary suspension with management to offset the reduction in revenue until new revenue ramps up. I know you have done this in the past and i appreciate your vested interest.
Looks like Armada didn't get ahead of the financial warfare taking place. I believe this is a concerted attempt to put financial pressure on russia to stop on its path to acquire new territory. Saudia Arabia is onboard and its taking a hit on its revenues in the meantime. All oil producing nations can bear a decline (remember it dropped hard from 115 to 30 in a matter of weeks in 2008/9 and rebounded sharply).
This is a necessary evil which will surely halt any prospects going forward in the oil industry. This global collapse in oil prices is prompting oil majors to announce the sale of assets which may help them weather this storm. Cash is king right now...not capital investment. Armada's only hope going forward is steady break even or above production.
The declining prices sure don't help with defining asset values for armada's assets.
good luck to all...we are going to need it!
Period of uncertainty..oil down
I sold some last time it moved higher pre merger talks but were shares i bought at higher prices most of what i have are at these levels...22 and under...ive been holding and buying post merger....we would have been in .20s or higher but someone and their inability to trade hit market orders....that ruined our much anticipated move ro the next level...psychologivally buyers wont rebuy or add or new buyers will be skittish about bilding a position. The thkught process is someoene in the know is dumping. Price stabilized but only soft lowball bids pushimg through...i have even stopped with buying on ask....i think the xompany needs something positive regarding raising cash and soon....they need to work rhis well ans kansas properylty asap
Were you lucky enough to pick up those market orders that went through. I've been buying at .18.
Am I the only one concerned here? The trades that killed the momentum in the next two days after good news are here:
98,000 x .1730
42,500 x .18
113,100 x .17
92,200 x .161
Not a whole lot of shares in the big scheme of things but unusual. I bought at .185 on the day it went to .161 and prices stabilized. Not saying I helped bring order but whatever went through went through quickly. Seemed like someone got lucky with orders at much lower prices.
anyone here that lucky person?
All i can say is wow....either someone desperate to sell due to inside knowledge or big overreaction to declining oil prices....any info???
I'm guessing someone screwed up an order....definitely a market order went through for wrong price or right price inadverdently. Lucky those who snapped it up this cheap. Could be intentional to drive down the price and shake the tree.
No way this went down on desperation. Who here would sell at lower prices right now? I put in a bid for 20k at .185 and didn't execute...that tells me this is a trick...good luck.
Lots of churn today at higher prices. Good returns for those who bought for short-term @ .17-.18. Congrats. I think we get new speculators here soon and with clarification on the test well and production there now, we could really see a boost. I think we trade in the .20s until we hear something...same bargain hunters bidding as little as possible to get shares...no reason to rush I suppose.
I think the details will come shortly. I see this as a huge success. One it establishes them as more than just a risky play now they have found real data and will be pumping out some oil they already have. May not be much but hopefully it gives them something to work with. They have significant data (according to release) that gives them an indication of multiple zones they can hit with high probability. That means they can branch out horizontally at different depths and extract.
It is costly, and maybe after we know how much is flowing and their financing plan going forward we can get a clue. I'm thinking the same people that funded the Gulfstar will likely throw some cash at this project for a share of the money.
Either case, Armada needs to fund through debt or equity and go at it alone fast to generate big returns...
Update: Armada Oil successfully drills test well, finds some oil and potential zones....please read on that board if any of you are still holding.
You guys happy about results? I am. They found oil in 40 feet. They can go from there and keep going from multiple zones horizontally....this is a win...but not sure how much. Oil companies especially small ones always cite the potential....I'll see it when I believe it but I think I will add about .10 cents a share in todays value on confidence alone...I see .30s approaching soon and if a plan on drilling again materializes and a new reserve report...easy over $1.
Sounds like germanium still has hope. Buy those shares cheap if you think its a win!
About anandarko...like other majors, they own leases/land and let the little guy take the risk. They can buy the little guy out if its a win.
I'm sure management wouldn't mind being bought out at $1/2 a share? Of course...if its a win...you will see that very quickly.
Greed will set in at that point. Plan for worse case scenario...lose and 50% drop in stock price.