Spunky, what do we do if: Some of the info in this post is new and part is a QUOTE of my post Aug. 8, 2007 msg # 7914 in response to your questions to me in post # 7875. That post (7914) also included some info from a June 30, 2007 post. Some of the info, in both posts, is obviously outdated and some may have been true, who knows. Not to mention the PPBO has soared. BUT some things needed then are needed now.
#1 - Management - BDGR needs a person in charge - CEO/President - that can manage. That person only needs to be able to distinguish between "the wheat and chaff" - DOES NOT NEED TO KNOW THE SIZE OF A ZYZ, AND HOW LONG IT IS. Some OIL people are good managers, but some may not be. The business world changed a few years ago and the successful companies have had GREAT MANAGERS/CEOs and knew how to combine the proper amount of people, business and technology. If you have the right people in the right places, a good manager CEO will turn a piece of junk into a valuable asset.
#1A - AUDIT INFORMATION: (if Dragon Man/authorities can be turned lose and steadily apply pressure by squeezing the crown jewels between some legs, an audit/required info will be easy.) I am not selling the audit short -We MUST KNOW OUR FINANCIAL position, but with the correct pressure ON THE Jewels and "partial audits" that should be available, that info should/should be obtained readily. Remember there are other ways of obtaining info - PLEA bargains come to mine REALLLLLL Quick, just ask the football player.
#2 - A DIRECTIOR/ (COO?) of the OIL operation needs to be a very technical/oil person. That person would run the day-to-day “field/oil” operations. AND I MEAN RUN! CHECK, AUDIT, and RECHECK. Others have discussed the qualifications.
#3 - Technology speaks for itself, if applied properly at the right time and at the right place(s).
#4 - LANDMAN/WOMAN - A MUST -Even to verify “Dragon Mans to be obtained info”
#5 - LEGAL - THE BEST, if Dragon Man/Plea bargains do not work, but this will more than likely be a “non player”. SLAM DUNK, but for one and HE/SHE better be “nice, not naughty”, IF.
#6 -PR, PR, PR with TRUTH, TRUTH, TRUTH + PAY, PAY, PAY (the bills) =s
SUCCESS
#7-Nth - Below and what others have posted have merit.
Note: Dragon Man, have you got your BIG VICE IN PLACE - you know the “Crown Jewels” thing
CHARTS
Please READ THESE (2) OLD POST - long but may be worth a review.
Posted by: charts talk --- msg #7914
3:48:54 AM
Post #7914 of 10843
In reply to: Spunkyknight who wrote msg# 7875 Date:8/8/2007
Spunky, I will give it a quick shot, but remember it is not a fix all or a business plan. The first thing that any successful company MUST have is the proper mix among three items: Business, Technology, and People. Anything short of including and giving proper representation for each of the three will have problems. The mix will vary by industry, company size, financials, etc.
Now to you questions/statements:
A. “What do we do at this point?” (Activities in this portion of the response can be accomplished in concert with each other, in many instances).
The first thing we need to know is what is the status of the company. The audit is for 2005 and 2006, as I understand it. A CFO /CPA has to be able to recap “real financials” for the 1st six months + of CY 07. A partial was issued but as it was pointed out on this board, there were additional items that needed to be included. The lease information is also mandatory - Local talks about deep rights (not a shot), but what I use to be aware of was if I signed a lease on my land for X, it was to “china” for the commodity covered by the lease. This question has to be answered, plus the average lease %/average BOOP.
1.IF YOU/WE (good shareholders) -including Lou believe management is NOW doing the right things (not in order of importance): audit, reliable PR, the right # of employees, the correct expertise, the knowledgeable people making decisions in their area of expertise, business plan developed(ing), share dilution stopped, buy back 10% from 98M this FY, add members to BoD - unaffiliated with anyone else, BoD members have access to ALL BDGR INFORMATION, BoD function as a BoD, competitive/competition for services/oil buying/pickup/etc companies. NO IN-BREADING ALLOWED UNLESS AT A LOWER COST THAN ALL companies. (Remember there are a price and a cost. They are not the same). Followup/audit/followup/audit oil pumped, sold, stored/in tanks. Transparency, transparency, and transparency). I am sure I left out a bunch of items. THEN DO NOTHING, BUT I doubt all the above is in work.
2. The things above that are not being done MUST be DONE. An approach to making it happen is below: (the following is offered with the assumption that management is trying to do the above, but may need help)
The good apples (shareholders) and bad apples (shareholders) must be separated. We must know who is who and the BAD APPLES must not be part of any activity, because they just may “blow it up” or worse.
Then the good apples must apply pressure to the head of the Company/pack/snake/whatever. I know what has been posted about JL, but I do not think that he would want BDGR to go under. I will not defend him, but I am not condemning him either - I have no proof of anything about him while at BDGR that warrants condemnation, but I do have some serious reservations. Taking SEC/legal action against BDGR would kill us or tie things for a long time.
If the good guys have a sufficient shares count to DEMAND certain activities take place or some type of action may be proposed to JL. I believe Mars and Lou have previously discussed a couple of things that would not hurt BDGR. (Note: JL may be holding some information very close, if he almost had BDGR removed from him by less than honest proposals/activities. I do not know the answer to either thought.)
It may be hard to find out who has what agenda, but there are posters on this board like you (Spunky) and Lou that have been around a long time and know the names and type people behind the ID. A little get together in La. with the good apples, if we have a sufficiently high # of shares, could put together a plan and just maybe have a meeting in OIL CITY, LA with the other appropriate people/person.
B. “We have money being sucked out from inside the company”
More than likely!!
C. “We have a great amount of assets that could be worked by the right management“.
If 25% of what has been posted on this board by the good and bad apples is true, it is a 100% yes
D. “We would probably be cash flow positive if we got rid of some people.”
It depends on whom you are talking about. There needs to the right # and type. The head mother/papa bear has to be a businessperson with a fruit basket of management skills. He/she does not need to be an expert oil person, but MUST have the right people in the right places, telling the truth, not what may sound good. I have no idea what the right # is for BDGR, but if the ones that are suppose to be in place are there, they would know. BDGR needs to have the people to do the work required that can be done cheaper than outsourcing, but outsource the other requirements -COMPETITIVE BIDS.
E. “Why do you think we have a chance here? And I am not criticizing. I am honestly trying to get a handle on this as are many others”
NOTE: If the share dilution is continuing, IT MUST be stopped or there has to be a darn good BUSINESS reason to continue with an almost immediate payback for shareholders. I do not claim to know a darn thing and I AM NOT RECOMMENDING ANYONE TO BUY OR SELL BDGR.
The apparent increased transparency by BDGR
The intensity level of/by BASHERS
The price of oil, stated positive cash flow # requirements (the number of B/D varies dependent on price, i.e. 7700BOPM @$75), the increased activity/# of oil company vehicles that I have seen in the area as I passed through. The interest I got last week while I was contributing to the general economy and a gamming company, responses to questions that I have asked someone I trust - the Guy that has helped take two oil companies to the NYX, one of which he was 20% owner and they “got to ring the BELL“. He has said you have to be careful in certain areas around Shreveport, but with the price of oil at $60 or higher I should be OK almost anywhere over there. He did not know anything about BDGR, nor did I ask him for help. He has been in the business in CO., TX. (WEST) OK for 30 plus years.
The price/sales action, including MM games. The last two days were very “funny looking and acting. I placed orders to see what would or would not happen and there were selective fills and B-A moves as soon as some orders were placed.
GUT feel
Chart INFO/technicals
On June 30, 2007 I posted the following:
What is BDGR fair value calculation if a person uses the information from today’s PR release, the % of oil BDGR owns/barrel of oil pumped, the price of oil, the cost of producing the oil, and apply some PE ratios.
This is not a projection, but the result of numbers that may or may not be correct. Serious comments, corrections etc. are solicited. I am sure there are several holes in this, but I believe the PR today is very good for BDGR shareholders and we will see a price appreciation. I know this may seem as pumping, but it is not. This post is meant to stimulate constructive discussion about our stock/company -BDGR. IT DOES BELONG TO SHAREHOLDERS!!!!
Assumptions:
1. At $60 /$65 per barrel of oil it has been stated that BDGR breakeven was 9000/month. Some calculated it to be around 7700/month at $75/barrel.
2. There have been discussions around the % of oil pumped that BDGR received/owned. The numbers used most, I think, were 65% to 75% - for discussion purposes a compromise of 70%/. 7
3. The cost /barrel has been stated at $35
4. By the end of year per month - 1000/day x 30 =30,000 BOPM
5. No further increase in efficiency, price/barrel, # of barrels produced, natural gas, or any other potential improvement or income
6. No reduction in share count, (a 10% reduction has been stated,)
1000/day x 30 =30,000 -7700=22300x.7=15,610 x $40 ($75-$35)=$62,400x12 (months)=$7,492,800/99,000,000 shares =$.0757sh
$.0757 X 10 (P.E). = $0.76/sh
$.0757 X 15 (P.E). = $1.14/sh
$.0757 X 20 (P.E). = $1.51/sh;
$.0757 X 30 (P.E). = $2.28/sh
(If Mr. Ellis can get to the previous stated 3 barrel #, the share price could be tripled. ($2.28/sh to $6.84/sh) I did not include the 5 barrel # that was used once.
F. “Have you seen this type of thing before in other companies?”
G. How did it work out?
F. & G. combined
I have seen bad management ruin a number of companies, management that did not change with the times/technology, slashers, runaway spending, and well managed companies.
Some went belly up, but a lot of them were turned around. Digital Equipment Corp. (DEC) was a well ran company for a long time then it turned into a political, fat pig that was sold to COMPAQ (CPQ). A falling market and bull headed second level VPs caused CPQ to be sold to HP (HPQ). The wrong and incompetent CEO could not move the company, but a new CEO has tripled the PPS in a short time. He managed and is still managing it. By the way HP had fallen significantly, before the incompetent CEO took over, but it went further down.
I know about these three because I traded and made money on all of them. I was also a senior consultant (more Mgm’t and logistics than technical) for all three.
Lockheed Martin Corporation (LMT), Halliburton (HAL), ensco (ESV), TXU, old “GD” very good success stories.
Dyn is making a comeback, Previous mgm’t/scandal problem????
ITWO is a mixed bag. A roller coaster. That company has a lot in common with BDGR - from past SEC, legal, etc. activity. Look at a three-year chart of ITWO.
NT is still down and out. BDGR cannot hold a candle to the problems NT has had over the last five years, yet they are still on the NYSE.
Spunky, thanks for the compliment and I hope this helps some. Anyone that wants to discuss, add, delete, etc. please do so, except for the bad apples and Bashers.
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