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I have additional comments concerning Victory. I want all of you to know that we, this includes EDEX, have had absolutely nothing to do with Victory's PRs. We feel that many of these PRs have been very inappropriate and even exaggerated. We want no part of any of these exaggerated PRs, and unfortunately, even statements that were not true.
Victory owns nothing in the Palo Duro Basin. There are no written or verbal agreements which exist. There have been discussions about Victory raising money for wells there, but nothing was ever finalized, written or verbal.
Victory has absolutely no rights to PIP whatsoever. There are no written or verbal agreements which exist giving Victory any rights to PIP. This will never happen with anyone, or any company. Let me be perfectly clear about this. I am the sole owner of this proprietary technology. This will never change as long as I am alive.
Victory does own a small interest in Mesa, which we were gracious enough to allow them to keep. I personally consider Victory's PRs concerning Mesa to be inappropriate, and even misleading, implying that Mesa is Victory's prospect. Nothing could be further from the truth.
How do I feel about Victory? Yuk! Double yuk!!
I just had to get this off of my chest. And I just wanted all of you to be clear on all of these points. Perfectly clear!
Any questions?
I don't sleep much. Only after I take my pain meds and they kick in. You may have noticed that I have posted here very early as well as quiet late. After taking my meds sometimes I pass out on my bean bags and sleep for a few hours.
You are right. It would not be proper to discuss this matter here.
Thanks for your input. I definitely appreciate the education and benefit of your experiences with this problem.
Tom does not embrace Victory. Over the course of this relationship Victory has made representations that they have the ability to raise significant sums of risk capital for drilling rank wildcat wells. Tom has been patient with Victory in these regards, helping them in every way that he could, hoping that these funds would materialize. This has not happened. We are all, including Tom, very well aware of Victory's financial problems, for reasons that I can not disclose here. This legal matter that you have uncovered is just further confirmation of what we already knew.
Tom is a very patient man, and he was willing to give Victory the benefit of doubt. He actually had nothing to lose by taking this position, and still doesn't. Tom is old school, and he wisely does not believe in burning bridges. After all, it is still possible that Victory will pull a rabbit out of the hat; but admittedly, it is getting very unlikely. The handwriting is definitely on the wall, and it is very negative. I expressed my feelings to Tom many months ago, and nothing has happened to change my negative feelings concerning Victory.
None of you need to point this problem out to Tom, because he is smart enough to figure all of this out himself, without our help. Please bear in mind that Tom is holding his poker hand close to the vest, and he is playing the hand correctly. I am sure he will fold his hand when the time is right, but not before.
Thanks for being long EDEX as well as all of your input.
LOLOLOLOL!
I also don't want it.
Mesa is certainly the biggest deer.
We know that we drilled through oil and gas shows. We know that all of these shows are associated with thick sections of porosity based on drilling breaks as well as cased hole logs. We know that the granite wash interval is a massive reservoir because we lost circulation in it, losing over 1,000 barrels of drilling mud and lost circulation materials (LCM) without regaining significant circulation, something that is not possible without major porosity and permeability being present. We do not know what is in the granite wash because of the lost circulation that prevented us from getting samples to the surface for evaluation, and open hole logs were likewise insufficient to evaluate this zone. Open hole logs also could not be ran across the shallow zones due to very poor hole conditions. Cased hole logs do not provide a clear picture of what is present, only a fuzzy picture.
All of the above is a lot of good information, but it basically is an incomplete data set, which prevents a complete and thorough evaluation of the Mesa 26 State No. 1. We also do not have the knowledge of any nearby production to help us evaluate our hole. The result of all of this is there is a lot that we don't know about this hole, and the only way we can obtain this necessary information is to test the well. As you, and everybody else, are aware, testing is in progress.
This is not my first deer. But I am willing to smear oil on whatever, if it will help make this happen for everyone here holding EDEX stock.
IF Clayton gets oil on his face, or his tail feathers burned by a massive gas flare, this is something that needs to be PRed to everyone at the same time. Otherwise would be a violation of SEC rules and guidelines. LOL.
LOL. I am sorry, but this would probably be a violation of the need for confidentiality here. I will ask Clayton.
Thanks. I appreciate all of you input very much.
Thanks. Sounds logical.
Actually three good backsides.
This is definitely my wish, a good backside, LOL.
Clayton has been known to hook up a live video feed of other wells, so he can watch via the internet. Would not surprise me if he does that on this well. His satellite dish is there and hooked up.
The shallow zones, if productive, will be behind the 5.5" production casing. This is technically called the backside of the well, the backside of the production casing that is. This not to be confused with the backside of the tubing, which may also be called the backside of the well. We technically have two backsides. In other words, the shallow zones will be behind a valve which can be opened and produced. Confused? LOLOL.
That probably sums it up. LOL.
Oil prices up big today, $1.26. But I don't understand the spread between NY Light and Brent, which is over $3.00 higher. Brent is lower quality crude, so this does not make much sense to me. I am sure it is a demand issue, but don't know for sure. Anybody have any ideas?
LOL.LOL.LOL......I noted my mistakes later, but could not correct posts, because I was outside of the 15 minute window. Yes, pain is my excuse. I also am at home and do not have my well worn dictionary and thesaurus. I do endeavor to post mistake free, but I am off my game, too much pain. Continuing to LOL. Thanks for your support.
I actually prefer to let Calvin make all of these decisions. He is the EXPERT here. I just wish I could watch this drama unfold in real time through my on eyes.
This definitely will help. I just wish I could be at Mesa helping with the field work. This is the most important well I have ever drilled in my lifetime. It really hurts, bad, that I am sitting on the sidelines. But Calvin is giving me regular updates. Still, it is definitely not the same as being there, and soaking it all up.
OT: Prayer is definitely part of my efforts to get well. I also know of at least three ministers that are leading these efforts. One in particular calls me regularly and joins me in prayer over the phone. He is very articulate. He has offered me some of the most beautiful prayers I have ever heard. All such efforts are greatly appreciated and are a big comfort to me. I strongly believe that prayer can definitely help, but I also know that only God has the master plan, and all things happen for a reason, reasons that may not be clear to us. Peace to everyone. GLTALs.
The completion test started with the rig arrival yesterday. Tom should be able to PR, at least, preliminary results in approximately three weeks.
OT: I am actually in Abilene, but I could go to Lubbock if these PTs are known to be better than most. I have seen an excellent PT and Chiropractor, Scott Wofford, who has worked for the Dallas Cowboys as well as the US Olympic Committee, and in past years I have tried several alternative remedies with no luck.
My problems have progressively gotten worse over the last twenty years. Wofford finally recommended that I go see Dr. Dozier, an excellent pain management specialist. I have had four steroid shots, transforminal, over the last four months. I initially got some relief from these shots, but the last shot on April 9th, was very painful, and resulted in very painful piriformis muscle spasms that started the next morning. My piriformis muscle in my right hip self destructed before I could get muscle relaxers to relieve the problem, three days later.
I was getting better after getting these meds and actually felt pretty good this past Saturday, until Sunday when the same muscle spasms started again with the same results. I got some new meds yesterday, and finally got the spasms to stop once again. Needless to say my lower right hip is extremely tender. I can't sit on it, and I am walking with difficulty.
I am presently taking four different medications including Lortabs, two different muscle relaxers, and a nerve anti-inflamatory. The muscle spasms are gone, but my piriformis will require some time to re-heal.
I have, as of yesterday, requested a surgical referral, preferably a non-invasive laproscopic surgical procedure. I am being told by Dr. Dozier's office staff that my back is not bad enough for surgery, based on recent MRIs. But I know that MRIs are not perfect, and I definitely believe that something is seriously wrong with my back that has not been resolved by the recent MRIs. I am in too much pain. Something has to be causing the excruciating pain and spasms, I am enduring. I at least want to talk to a surgeon, a very good one. I am presently waiting on the referral, and plan to proceed with getting an examination and recommendation.
Hemi is definitely a long term play. What they are doing is going to pay off in spades. I have made a very good living off of shallow, 1,100' to 1,200', oil and gas production, and know very well how such production can pay, if it is handled correctly, and completed properly. Hemi completion techniques are obviously first rate. I certainly wish I could look over their shoulder, as I am sure they could teach me many new tricks. This is a first rate company when viewed from all angles and perspectives. Definitely an amazing stock, with enormous upside potential, that is seriously undervalued, and certainly one that belongs in all long term portfolios.
OT: I have not tried this method, but I have stretched my back on a Stairmaster Graviton using my own weight and sudden stops. This helps, but it is impossible to stretch my back when I am in as much as I am in now. Thanks for your suggestion. I got some new meds today, which are helping with the pain a lot.
Calvin Donaghey is running the show. We could not be in better hands. He can also reach me by phone, if he needs to. Clayton is also helping out.
The falsehoods you are referring to are a figment of your misguided imagination. There have certainly been some things said by all parties directly involved with EDEX, me included, that we have been unable to follow through with, but these situations were above and beyond our control, not lies as you have stated.
You are also very uninformed about what is happening in the oil patch today. You are certainly right that EDEX has a very experienced team, but experience alone can not solve all of the problems this industry is currently facing. We are presently seeing, and witnessing, problems that no one in this industry has ever seen. And there are no simple solutions to them. Equipment shortages are paramount, a result of the many nationwide ongoing shale plays and coal bed methane plays. These plays, each, cover many counties, and have resulted in major, and I do mean major, equipment shortages. And the people who have caught the worst of these problems, are the ones drilling rank wildcats, i.e. EDEX.
You really need to pull your head out of your arsh, or get lost, preferably the latter. You are really unbelievable!
Happy birthday Jigfish. Glad we could oblige with a nice present. Thanks for all of your support over the last year or so.
Glad to hear you are still in EDEX. I mistakenly thought that you had completely sold out a long time ago. IMVHO, I do believe our cash reward is close at hand. Everybody that is still in, after all of the problems that we have had, certainly deserve it. GLTALs.
I am not at the Mesa location, but I believe we can talk Clayton into posting some pictures. I am presently at home draped face down over two stacked bean bags. This is the most comfortable position I have been able to find.
You are right. Rig schedules have been missed. Dry holes have been drilled. Projections are way off. The question that begs an answer to is: WHY ARE YOU STILL HERE? If you can not stomach what has happened here, and it is obvious that you can't, then move on. This is not a cry baby's game. There are plenty of risks to what EDEX is trying to do here, all of which have been disclosed. It is very obvious that you do not have the guts to play this rank wildcat type of game, so why play it. Move on to something that is less risky. HMGP is a good oil and gas play with minimal risk, a play that is perfect for gutless wonders, such as you.
Shallow zones will be tested first. Then we will drill out cement plugs and run 7,000' of 5.5" production casing. The last step will be drilling the granite wash section to hard igneous rock, and testing it.
You, and me, and everybody here. Keep your fingers crossed.
Hi, Nervous. Frankly, I was more worried about the new Chinese rig than a seasoned, veteran crew and rig from Basic. I was afraid the crew would not be familiar with the new Chinese rig, and our Mesa well was going to be their first learning experience. This is not usually a good situation. After we lost the new Chinese rig, it was easy to switch to Basic, who was already on standby, just in case we needed them. This was a smooth, fast transition. If we had not been thinking ahead, this could have been a much longer delay than ten days. GLTALS.
I can't disagree with you, that being associated with VYEY'S obvious pump and dump routine can be damaging to EDEX. But I just want to assure you, as well as everyone else, that this association is a weak one, and getting weaker as time goes on. We have heard lots of promises from VYEY concerning funding of projects; and, to date, have seen very little results. I can not believe that Tom will put up with this much longer. But Tom is old school and wisely does not believe in burning bridges. It is difficult to say, for sure, how this will turn out.
If it were up to me, our relationship with VYEY would have ended many months ago. I just don't like what I am seeing. But who knows, maybe Jon will pull a rabbit out of the hat one day, making me look like an idiot, and Tom look like a genius. I am with you on this one, John. I certainly have serious doubts about Jon.