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Could be not all T trades are dilution but in the otc I’d say 90% of the time they are.
Right....
Yeah was about to post that so lower the os but then have a T trade.... we will see where this goes.
Yeah looking solid here holding this pps. We get some fillings on what’s coming and this blows up.
True that....
Has to be MM’s right? Even if you fat fingered it the highest bid would have filled it....
Nice movement this morning added more at .003.
I think it just depends on what company does the rm. SS is good here. It’s just a waiting game right now.
It was 155k shares at 15:59:56@ .0039 also 30k at 15:59:55 @ .0038.... seems like someone wanted some shares.
Nice... was watching in that area just didn’t have any funds until this morning.
Looking solid got in at .0034.
That’s not totally true they do use that terminology in the oil and gas sector. The thing y’all are missing is oil company’s strictly producing gas not much oil aren’t doing well. We have an over abundance of gas. Good luck guys I’m out.
Isn’t their a note for 700k out?
Oh gotcha missed that thanks.
That says nothing about reserves or estimated reserves.
It’s not.... they have 1.9 billion mcf is reserves but I don’t know if that’s in the acres they own or that shale play itself.
Oil and gas operators especially small ones have to start small and acquire new leases.... currently making 400 BOE a day is pretty good money. No idea what their overhead is but the 10q that’s late will say a lot.
Plunger lift is a good option for artificial lift on gas wells... basically pulling the fluid off the well to produce gas with less overhead. They are kind of a pain in the ass to keep running we have 50 of them in a field I operate.
Website is nice.... check out their presentation currently producing about 400 BOE a day with 87% gas the rest liquids. So primarily a gas field. They are acquiring new leases for the most part looks good. Getting current again and having that note paid would be great without continuing to dilute.
The late 10q would prob answer a lot of those questions.
I get that they are producing they acquired an old field with S/I wells. There obviously is some potential there. What are their wells making? 1 million mcf a day? Or 100? Every well is different depending on formation and casing pressures.... also are they flowing or plunger lift wells or on a rod pump? There’s a lot more than just trying to get it out of the ground ie rod and tubing failures etc.
The thing y’all have to understand is yes they have reserves estimated almost 2 billion in MCF. Gas is what 2.70 an MCF right now that’s pretty low. I do think this is under valued. If they could come to terms on the debt and we see what their field is producing then this should continue going up.
Yeah usually how it happens let’s see if it rebounds.
Yeah that took a shit real quick.
Crazy strong
That’s the trend for sure it’s slowing down here as well. GLTA! I think this pulls back some today we will see!
Sorry ran out of post last night.... what I was trying to explain is lift cost is on a per lease basis.... so if you have 750 wells that makes 300 bbls a day your lift cost is higher obviously more overhead electricity, chemical, labor etc. if you have a 3 we’ll lease that makes a 1000 bbls a day it’s obviously lower where that 5.00 a bbl comes from. Over all avg in the Permian I would say is prob mid 20’s oil as far as the tighter shale plays up north I can only say what I’ve heard I don’t have an experience up there. I’ve heard anything lower than 50 dollar oil they really struggle. Now granted that’s new drills I have no idea on older leases. This company going in and buying old leases, stimulating the formations and trying to increase production is really always a good plan especially for a start up.
Yeah some oil companies on certain plays. The Permian is hot especially with horizontal plays..... we have wells making 2 to 3k bbls of oil a day.
In general I’ve been told other places outside the Permian basin.... oil sands and harder to get shale has a hard time making money if it isn’t above 50 dollars a bbl.... can’t say for sure that’s just what I’ve been told.
Thanks for the PM’s hahaha
Where at? lOE is different everywhere.... we have leases that make money at 5.00 dollars a bbl.
Well good luck hope you make some money just don’t fill people full of shit.
What’s 40% of one bbl? Are you a geologist or Petroleum engineer? You can tell me you have studied whatever but you have no idea what it takes to get it out of the ground and all the shit that happens when your trying to do it.
Love the business I’ve been in production for 14 years.
I don’t know where it’s gonna go some serious issues but it’s the otc so it may run like hell. It’s not worth 24 a share... potentially 86 wells can be I don’t know what their numbers are.... I will tell you lift cost in Wyoming is way higher than the Permian.
Yeah you have no idea what it takes to recover that gas and oil and estimated reserves are just that estimated. You don’t value oil companies on reserves.... it’s based on bbls per day and BOE per day plus assets and landed owned. Some reserves can be factored in.
You and me both!
Not saying this won’t go up or make people some serious money just saying it’s not worth 24 bucks let alone a dollar. Maybe .30 which would be great from these levels.
I’ll put it this way we produced just in oil over 100k bbls a day just in the Permian basin I work for an international oil company. We are worth 9 billion. There’s no way a company with hardly any wells. 86 or so is worth a billion. The lease I work on has 750 wells and that’s just one lease.
I’m gonna tell y’all right now they don’t value oil companies on potential reservoir amounts.... the company I work for found 20 billion bbls of oil supposedly reported didn’t change our value. They want to see results. That’s a lot of gas but we have plenty of natural gas IE what’s an MCF right now 2.75?