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Remember those naked shorters you've been speculating about for a long time. It's just them finally buying those shares they sold you at 100-300 times the current prices.
What a current Hemi shareholder has to go on are based on the current actions that Hemi has completed...
I'm pretty sure that's what the latest discussion has been based off of. The major 'actions' we have to look at are Hemi selling off assets last fall and spending the proceeds without the shareholders seeing a penny. Recent 'actions' seem to be following that same pattern. Any 'possible course' anyone wants to outline should have some reasonable proof that this isn't what is happening, since that is Hemi's M.O. lately.
Without reasonable proof that something different is going on we may as start speculating that they are going to strike gold in IOWA and move to strip mining instead of stripper wells.
If the fact that the chief operating officer and charter board member can walk out on the company and no one bats and eye, do you really think anyone will care that they have only 4 total producing wells in SEK?
There are none so blind as those who will not see.
Not sure there is anything big or surprising here to 'hit the fan' with, unless I am missing something. They wouldn't have burned through half a million dollars in sold lease revenues and millions of shares on average per month for the past few years if they'd had decent production. No surprise there.
What's to stop the CEO from using any proceeds to cover 'operating expenses' for the year and have the shareholders end up with zero, much like the last time they made a deal with another company?
The time is close at hand
That sounds ominously like the end is near, in which you are undoubtedly correct.
On the other hand, it seems to me that you have not been a follower of HMGP as a stock for very long.
You see, whatever KAA has brewing, if anything, will likely mean absolutely nothing for the share holders. He sold off a lease last year that was roughly equal in value to the current market cap of the whole company. What happened after that? Nothing, other than the share price dropping roughly 75% (that's just since last fall).
Selling off holdings in SEK or whatever else is going on will likely be little different, given Keith's track record. If Hemi's holdings have any value significantly higher than the market cap for the past year, he wouldn't have been steadily increasing the O/S at such an unfavorable rate of exchange all this time.
Craig was out there getting the job done.
If anyone is to blame it was Keith and or his talking heads misrepresenting the results. Don't Blink!
Nothing in the descriptions on any of the duplicates is contradictory, except for which well that sample came from.
I'm sure after a year one bottle of oil looks pretty much like another. He'd have to taste it probably to remember exactly which well it was.
Not sure what your point is?
Craig said he was going to upload a bunch more pictures while the blog was still active, hence the recent post dates. He never said they were current pictures.
Not sure exactly why anyone would imply or expect pictures posted this week of Craig's work on Hemi projects to be current since he hasn't worked for the company for a couple months. Duh.
Good summary.
You would think the COO and a major shareholder would stay around if he thought by doing so he could increase the value of his holdings. Heck, I bet he'd stay just to do something interesting like a Horizontal drill if CEO had any intention of drilling it.
Don't mourn the loss of the talking heads. At least they haven't been around to con anyone else into losing money in this tragedy.
Last summer it was "Don't Blink". This summer it is "Get Ready".
Somehow I think we've heard all this before... It's nothing but second hand information from Keith which turns out in the end to be nothing but spin.
You've got to give him credit though. The horizontal drilling gambit was brilliant. It kept people off his back for a good 6 months straight. Too bad he had no intention of going through with it. :(
LOL. I think you'd be sadly surprised at who among the various long-term shareholders, aside from KAA's talking heads, are no longer happy with his so called "business plan".
The HMGP ship sailed long ago and currently is taking on water fast, IMO.
Exactly, as far as I can tell it only proved that the current share price is pretty accurate, although some could argue we are trading at about 1/2 of where we should be.
I've observed the exact same thing. Keith is more than willing to talk... to those who are willing to promote the party line.
However, as soon as you make reasonable requests for the type of public information to even approximate the companies value, he clams up. That is his choice and that is also why the share price is where it is. The market does not even begin to have enough facts from which to accurate gauge HMGPs worth and price per share.
Yes, I know.
It was more an exercise in pointing out the major flaws in KAA's information management techniques.
Thank you.
Yes I was, and you are assuming they aren't.
Although, manipulation is probably only the second most likely option. Usually the AH trades seem to be associated with large shareholders using a service like AUTO to sell their shares.
I'm willing to take Hemi management as a credible source if they can keep their story straight.
We have folks on one had claiming recent information stating Keith says... he has no knowledge of where the AH trades might be coming from or who might be involved.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=35016795
And then on the other hand he has previously made open accusations of stock manipulation against others... To your "broker" in Kansas City... yeah we know about him too. Finra and the SEC takes stock manipulation very seriously, you never know when or what they are looking at.
Keith A.
http://investorshub.advfn.com/boards/read_msg.aspx?Message_id=32536462
So which is it? You'll have to forgive those of us who have a hard time trying to follow the story lines presented in all these privileged emails.
What is the time frame on those emails or at least the latest?
Was it at any time after they announced the horizontal drill or before?
My favorite aphorism on common sense:
If it smells like a turd, looks like a turd, it's a turd no matter how hard you polish it.
There seems to be a lot of attempts to polish up the fact the HMGP is sitting sub-penny and probably will for a long, long time.
Entirely different thought? I don't think so.
Neither Hemi's management, nor Hemi Energy, Inc., has sold stock in the open market in 2007. The leases that have been acquired in 2007 have been acquired predominately for cash, through attractive royalty concession and only an insignificant number of new shares have been issued for these new leases. Even though Hemi and others have addressed some of the issues that caused the artificially low market cap, management still strongly believes the market price does not begin to reflect fundamental asset values.
As for a 9/27/07 PR, iHub doesn't show one. If I missed it, I apologize.
I didn't miss it at all, in fact it was exactly my point.
The PR had no mention of AH prints, that PR didn't come until a whole year later. This PR was addressing the 'artificially low market cap'. How did they try mitigate shareholders concerns? ...by saying they hadn't been selling shares. Had they been selling shares at that point? -probably. Did Keith leave himself a loophole? -yes.
I know how you are interpreting it now. That is not how people were presenting it then. In fact, every time someone brought up the subject of dilution people would pitch a fit and quote this PR back to them. People didn't start changing their view of it until after they found out the O/S had gone up to 64M.
Giving yourself more shares and maintaining your overall ownership percentage is nothing but a dis-incentive to use shares responsibly.
You said once from personal conversations you had with him that he wasn't worried about an outside takeover of the company. How can that be if he hasn't correspondingly increased insider holdings whenever the O/S needed to increase?
What would Keith care if he dilutes everyone's holdings if his percentage doesn't get diluted because he gets more shares to make up for it.
Hence my use of the phrase 'in year before his last revelation', not 'in the 4 months between PRs'. Although you are right, the rate of around 1M (or even 1.5M) a month seems to be about his average since 2006.
We went from some where around 38M to 64M in one jump as far as anyone could tell from publicly available information.
What I find hilarious is how he likes to make statements like this from the 6/12/2007 PR:
Neither Hemi's management, nor Hemi Energy, Inc., has sold stock in the open market in 2007.
encouraging folks to believe they aren't needing to use shares and then the next thing we hear the O/S is has gone up 25M+. Was it true at the time? Sure. Was it misleading? Definitely!
I hear ya, but in the year before his last revelation of the share structure it went up tens of millions. Sure by comparison a few million more this year if that is all it is, would seem 'little'. Yet, if that were all it were, I don't think he would need to hide it.
But if you really think about it in terms of what you believe the company to be worth, even that is a significant amount of shares. I find it hard to believe whatever assets might have been picked up would equate to the share price you believe HMGP is worth. If it isn't, that's dilution.
As for this spring, I'm right there with you, but it is the same place we were a year ago with little change. Given their track record of getting amazing results from wells which can't produce sellable resources, we may be in the same spot a year from now.
-PE
So are you saying you don't think the O/S has increased since the last known publicly documented numbers?
If that was really the case, why wouldn't Keith simply post the current share structure on a company website like they used to do? Especially if he has nothing to hide? Doesn't make any sense to me. IMO, it has increased or he wouldn't be hiding it.
And if it has, since the shareholders of the company have seen no ROI from those increases, I'm labeling it dilution in my book. In fact, any O/S increase that occurs when the company's 'very artificially low market cap is substantially below book value and even below tangible asset values based on conservative oil and gas industry standards' is inherently dilutive (and criminally negligent, imo).
'...Let me sell you these shares for a penny that are worth a buck by industry standards...'
ludicrous
It is also 'not normal' for pinksheets to be legitimate companies or for their long term investors to make any money. So exactly, what point are you trying to make by comparing HMGP with them.
HMGP is supposed to be a cut above these other pinks, all you have demostrated is that it is not!
I don't mind so much the gagged TA. If there are legitimate costs involved as people have stated in the past, so be it.
However, I cannot think of any legitimate reasons under those circumstances to not publish the O/S on their website and keep it updated. Especially, when it is supposedly not changing, because the company is cash flow positive, etc, etc, ad nauseum.
Why would you want to hide the fact that it isn't changing?
Because there are those who insist upon overstating and making things seem more urgent than they really are, whatever the topic.
It was pretty clear as the Collins developed that it wouldn't bring any ROI anytime in 2008.
It was pretty clear in October that a horizontal well program wasn't going to bear fruit until early next spring at the soonest.
It has been pretty clear with almost anything coming from HMGP this year that the ROI wasn't going to happen anytime soon.
Yet for some reason many here insist upon making it seem like things are always 'right around the corner' or going to happen sooner that they likely are to in reality. This has been going on for a long time. It is this don't blink propaganda that has caused many to make poor investing decisions in what has been an 18 free fall in the stock price.
I dare say you've been a victim of it yourself, or am I wrong? Do you think you would have 'mis-guessed' the bottom quite so many times if you hadn't fallen victim to some of this false enthusiasm?
This is a stock board. There is only one decision to make about a stock. BUY, SELL, or HOLD. HMGP has been a SELL for a long, long time. Most everyone still here was unfortunate enough not to realize that, myself included. Has it gotten low enough that it is fairly safe to call it a HOLD at this point? Quite possibly. Is it a buy yet? Hmmm.....
But you have to ask yourself what the motives are of those who have wrongly been promoting HMGP as a BUY incorrectly, whether directly or indirectly, for so long and likely continue to do so.
Yep. Like I said, missing the entire point.
Yes, your missing the entire point. The point is to do step #11 when you actually have a decent idea of what the time will realistically be so that you will have no problems following through with it -preferably shortly before the actual spud.
Not before you've even done the early steps, almost guaranteeing you wont hit even the outside of your target (30-90 days).
So again I ask the question, if KAA is so inexperience as some are now stating then please enlighten the board with an opinion as to how a company such as Hemi should approach a horizontal project involving all the formal steps and timetable requirements within a specific timetable involving all the variables that need to be lines up, completed and approved.
That's easy:
1. Start figuring out generally if it is feasible for the area and what is going to cost. Done.
2. Start figuring out how to fund the project. Done.
3. Start figuring out the legal and permit requirements. Done.
4. Send your field ops guy to learn more about the specifics first hand. Done.
5. Get down to the nitty gritty of getting the permits. Done.
6. Get down to the nitty gritty of finding available drillers and their availability. Likely Done.
7. Put together a general timeline based on what you have learned. Apparently Done.
8. Get the subcontractors lined up based on your timeline. Hopefully Done.
9. Get the permits finalized.
10. Finalize things with the Subs.
11. Put out a PR indicating your plans and timeline.
12. Spud it.
That's over simplifying it a little, but it is easy to see where Keith got a little messed up on step #11.
I haven't been following too closely, but I am curious.
Are you referring to Keith, the CEO who established this over-zealous 90 day timetable through inexperience, or someone else???
I'm not the one pointing fingers at imaginary MM manipulation and mystical evil forces when in reality simply no one is interested in buying the stock.
For a company that used to trade hundreds of thousands of dollars a day, recent volume is very sad. Whether or not there is NSS is irrelevant when no one is buying anyway.
328000 is only $3,280 worth of shares. It will take a lot more than that to get this moving.
No.
They appear, so far, to be more legitimate than that.
And you have my sincere apology for being that reason.
But yes, at these levels even I would be tempted if I hadn't just gotten through buying my relatives shares at a price around 20x the recent lows.
However, my DD this summer indicated we would see nothing substantial from the Collins reflected in the share price before the year was out, nor from any other sources. I'm pretty confident that still stands.
I've seen a lot of that lately. People unwilling to see the all facts because they are trying to 'feel good about their purchase prices'.
You may be right about next spring. But in the meantime we have people who bought in at $.04 who now have considerable losses. I am glad I'm not one who was encouraging that despite the writing on the wall.
Everyone who has made any kind of statement about HMGP's share price never hitting some specified low has been dead wrong.
Every reason they have ever given has never been enough to make a difference in the real world.
What's really funny is reading posts like this from when we were in the 40s & 50s. Perhaps now that we have dipped sub-penny you are getting close to being right.
Show me why I should believe it's LIKELY.
BID/ASK .01 x .012
Taking the company private at pennies on the dollar? I thought his answer spoke for itself.
We know Keith himself has stated that he wished he had never taken the company public in the first place. Why would should he care at all about screwing over the shareholders? That's what pinkie CEOs are known for. The past year and a half has certainly not changed my opinion on this matter in regards to HMGP, quite the opposite in fact.