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What does L2 look like after all that activity?
500,000 buy just now?
You might not blame Mason for Volk but the two agreed to do business.
Buy on the bottom of a debt holder sell-off is a better statement.
You're right, I looked again and the chart shows up tomorrow just like you said.
Chart looks upward tomorrow.
http://www.rrc.state.tx.us/data/production/stripout/d.php
D-BAR LEASING, INC. STATUS DATE 09012012
P O BOX 1418 UPDATED THRU 10/26/2012
ABILENE TX 79604 DAYS 30 FACTOR 100
OIL-WELLS 09-1 WELL # DAILY-ALLOW MONTHLY-ALLOW
DIST FIELD/LEASE NAME LSE MOV-BAL REC # OIL(BBL) GAS(MCF) OIL(BBL) GAS(MCF)
* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
7B CALLAHAN COUNTY REGULAR
BURNAM, M.G. 14928 55 1 1# 32 30 960
2 1# 32 30 960
4 INJECT
LEASE TOTALS 60 1920
ALVEY ESTATE 17206 69 1 SHUT-IN
1-A 14B2 EXT
2 INJECT
2WS DLQ W-10
3 1# 32 30 960
4 14B DENY
5 INJECT
6 SHUT-IN
7 1# 32 30 960
8 1# 32 30 960
9 1# 32 30 960
10 1# 32 30 960
11 INJECT
12 14B DENY
13 14B DENY
14 SHUT-IN
15 14B DENY
16 SHUT-IN
17 INJECT
18 SHUT-IN
19 SHUT-IN
20 INJECT
21 SHUT-IN
22 SHUT-IN
23 SHUT-IN
24 INJECT
25 SHUT-IN
27 SHUT-IN
28 2# 32 60 960
30 SHUT-IN
43 14B2 EXT
44 DLQ FORM
45 DLQ FORM
LEASE TOTALS 210 5760
BURNAM, M.G., " 17354 91 1 1# 32 30 960
2 1# 32 30 960
3 1# 32 30 960
5 14B2 EXT
LEASE TOTALS 90 2880
COON HOLLOW (FLIPPEN)
GRAHAM, JAMES F 25696 50 1 SHUT-IN
OIL AND GAS PRORATION SCHEDULE LISTED BY OPERATOR NOVEMBER 2012
D-BAR LEASING, INC. STATUS DATE 09/01/2012
OIL-WELLS 09-1 WELL # DAILY-ALLOW MONTHLY-ALLOW
DIST FIELD/LEASE NAME LSE MOV-BAL REC # OIL(BBL) GAS(MCF) OIL(BBL) GAS(MCF)
* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
7B COON HOLLOW (FLIPPEN) /CONTINUED/
GRAHAM, JAMES F 25696 50 2 14B2 EXT
3 14B2 EXT
4 14B2 EXT
KESSLER, FRED T 27316 2 14B2 EXT
EASTLAND COUNTY REGULAR
ADAMS, ROY 01470 111 1 14B2 EXT
1-S 1# 32 30 960
2 1# 32 30 960
3 INJECT
3-S 14B2 EXT
4 1# 32 30 960
5-S 14B2 EXT
6 14B2 EXT
6-S 14B2 EXT
7 1# 32 30 960
12 1# 32 30 960
16 SHUT-IN
17 1# 32 30 960
18 INJECT
19 SHUT-IN
21 14B2 EXT
22 SHUT-IN
23 14B2 EXT
25 14B2 EXT
LEASE TOTALS 180 5760
ISENHOWER ESTAT 20398 64 1 1# 32 30 960
2 14B2 EXT
LEASE TOTALS 30 960
ISENHOWER, W. E 20700 59 1 14B2 EXT
2 14B DENY
3 14B2 EXT
4 14B2 EXT
5 14B2 EXT
ISENHOWER 21474 31 1 WATR SUP
2 1# 32 30 960
3 14B2 EXT
4 INJECT
5 14B2 EXT
LEASE TOTALS 30 960
TAYLOR COUNTY REGULAR
KESSLER, FRED " 18131 50 1 NO PROD
BOYETT, JAMES 18245 135 1 14B DENY
1A SHUT-IN
2 1# 56 30 1680
2-A DLQ W-10
3 SHUT-IN
4 SHUT-IN
5 SHUT-IN
OIL AND GAS PRORATION SCHEDULE LISTED BY OPERATOR NOVEMBER 2012
D-BAR LEASING, INC. STATUS DATE 09/01/2012
OIL-WELLS 09-1 WELL # DAILY-ALLOW MONTHLY-ALLOW
DIST FIELD/LEASE NAME LSE MOV-BAL REC # OIL(BBL) GAS(MCF) OIL(BBL) GAS(MCF)
* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
7B TAYLOR COUNTY REGULAR /CONTINUED/
BOYETT, JAMES 18245 135 6 SHUT-IN
7 DLQ W-10
8 SHUT-IN
9 SHUT-IN
10 INJECT
11 SHUT-IN
B 1 2# 56 60 1680
LEASE TOTALS 90 3360
CAMP BARKELEY 28211 19 1 1# 32 30 960
OIL AND GAS PRORATION SCHEDULE LISTED BY OPERATOR NOVEMBER 2012
The Professor posted a link showing how much Monticeito originally bid for the VM-179 lease ($275,000). Monticeito have a 30% working interest in VM-179 as I just confirmed by calling WGAS. Given WGAS have about 51% net revenue interest I assume the other 49% goes to Monticeito. The VM-179 block has estimated reserves of close to $100M depending on which estimate you look at and what oil and gas prices you assume.
You can understand why they filed. Before the I-1 well came into play they would have been stuck with a majority partner that may not have been able to fund the work in addition to the diminished value of the PPS. Unless there was some other issue I think we'll see news soon that the lawsuit has been dropped IMO. Given that Monticeito bid $275,000 for the lease they still come out on top but they'll been even better off after splitting nearly $100M in reserves.
I just called WGAS and confirmed that Monticeito hold the remaining 30% working interest in VM-179.
Do you have a reference for that? If no one is clear who the other party is then I'm planning to call WGAS to find out.
The VM-179 well is in around 70 ft of water. Does anyone have knowledge of the approximate costs associated with drilling in this setting?
Also we have a 70% working interest on VM-179. Anyone know who holds the other 30%?
I think you'll find that just over $9000 has been spent. Still not much though.
What does L2 look like this morning?
Who can sell today?
Too funny - my broker account updated the price but kept the share count the same so I look like I hit the jackpot : )
$WGAS UP 30% 24HR OIL PRODUCTION NEWS
At least 24 HR production for the last 2 weeks has been confirmed.
SLME stated oil and gas rates separately. Numbers WGAS have given previously were combined equivalents (BOPD vs BOEPD) I believe.
Regarding the relationship with Silvermere it seemed that he introduced them to the I-1 well whilst he was operating Blackcat but that the relationship had soured for a reason he didn't state. Either way his comments implied that he wouldn't choose to work with them on a new project. Regarding the rest of the conversation I had called to ask about the leak on the old platform and at the time he stated that a PR would be issued shortly (which it was). He certainly didn't give any information that wasn't publicly available in general I don't think he was too happy to be talking to me. I wonder if he thought I was an environmentalist looking for a good story on the leak and that was why he bothered to call back.
I called the office and spoke to his colleague. His colleague offered to have him call me back so I left my cell phone number and sure enough I got a call.
When I spoke to Mr Mason a couple of weeks back he didn't have anything good to say regarding Silvermere. I very much doubt they'll be teaming up IMO.
API # is 70230224
What about the people who play who wants to be a millionaire? They only get a million right?
Do you mean that wearing a tutu doesn't automatically make me a ballerina?
I wouldn't be surprised to see a juicy PR right before the meeting to kick up the price and then follow up with a stream following the RS.
When I spoke to Mason yesterday he did imply a PR was coming this week - I assume regarding the I-1 well since that is why I called. We will see.
News is coming this week and will push this higher IMO.
Have maintained my position since July without selling which with hindsight seems crazy. I'm not trying to suggest I have any undisclosed information because I don't. I was just very encouraged by the fact that he was able to give me 5 minutes of his time and reassure me about the I-1 operations.
He was quite apprehensive when I first called and made it very clear that he couldn't talk to shareholders (no surprise). He indicated that there would be news issued clarifying the I-1 operations. He didn't talk kindly of Silvermere and was clear in distancing himself from that company.
As I said earlier I wasn't expecting anyone to return my call but glad that they did.
Mr. Mason did return my call at 3pm which surprised me. My outlook is now very positive.
Great if they have fixed the leak. The nearer we are to full production news the better.
Really I just called to see if I could talk to Mr. Volk and verify that he answers his phone. Apparently he was in a meeting with Mr. Mason.
Don't know. Tried pressing 2 for Volk but no answer so I tried option 1. Didn't catch the name. Just told the rep I was a shareholder, that I had heard there was a pipeline leak and wanted more details. He told me Mr. Mason would call me back at 3pm but we will see if that actually happens.
Just spoke to a representative at WGAS. The pipeline leak has been fixed already and they are waiting for inspection by officials.
Does anyone know how quickly production data has to be filed with the state and if the data is accessible online?
"US-focused oil group Silvermere (LON:SLME) expects to get first commercial production from the I-1 well on the Mustang Island filed in Texas by the end of September."
http://www.proactiveinvestors.co.uk/companies/news/47158/silvermere-expects-production-from-mustang-island-by-september-47158.html
I disagree. If the company plays it right they can setup the pps for sustained growth even if there are some perceived negative aspects. This seems like a turning point that won't be repeated IMO.
As a strategy though do you release a barrage of news and up the price and then split; or do you split and then feed news to sustain growth into 10s of pennies?