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"the company expects to produce approximately 2,000 barrels of oil. 2,000 x current price of oil = do the math $$$"
OK, let's do the math! They say "EXPECTS" to produce approximately 2,000 barrels of oil." Well that comes to ZERO, because what I EXPECT is that NOTHING will ever get done, which is par for the course with GSRE.
Here is the exact GSRE statement; "In the first full month of production the company expects to produce approximately 2,000 barrels of oil from the wells that are being worked over."
So they are expecting production from wells they haven't even WORKED OVER yet, even though they use the term "are being worked over". The PR says; "has scheduled workover to commence next week." So "being worked over" is a LIE! It should have read; "going to be worked over"
Definition of BEING. Something that actually exists!
The PR also says; "Of the 166 oil and gas wells awaiting completion and hook-up, 35 of the wellbores are equipped and ready for production."
If 35 wells are already equipped and ready for production, why no estimate of production from those wells? They only state expected production from the 30 workover wells.
Also note they say; "all 166 wells are awaiting "HOOK-UP". Where have we heard that before. The last time they were hooking up a supposedly producing well, it never happened!
I don't EXPECT the work overs or hook-ups to EVER happen. What I expect with certainty is that this is all a BIG SCAM for them to sell more shares as usual by GSRE management.
"Enough votes were received at the GREEN STAR ENERGIES INC Special Meeting of Stockholders to carry the Proposal to increase the shares."
I think that was a forgone conclusion since the insiders hold most of the shares! No surprise there!
GSRE insiders do what they want, when they want, with this SCAM company!
Watch this Youtube video. Funny
and vulgar, but true of 99% of
pinky stocks, especially MCDA.
Watch this Youtube video. Funny
and vulgar, but true of 99% of
pinky stocks, especially WRGL.
WHY, would "one assume that the price of this stock would spike to at least 004 (600+%) or so and then settle back at 001-0015 IF we get the grey out." when it was only in the .0013 range when it was suspended?
"So in a nut shell, what is the real history here"
Your Quote at the bottom says it all!
"Quote: Ambition without knowledge is like a ship in dry dock. Going nowhere fast!"
In reply to all your GSRE posts today. Where have I heard all this before, in FACT, I think I have seen it, and heard it repeatedly in previous GSRE PR'S and posts here. Just one SCAM after another!
"The purpose of the shareholder meeting and proxy is to authorize an amendment of the Green Star Energies, Inc. Articles of Incorporation to increase the authorized common stock from 3,000,000,000 shares to 12,000,000,000 shares to enable the Company to complete a reverse merger with Questus Energy, LLC. "
WOW, talk about DILUTION!!!!!
UH Chief, when is the RS going to be, SOON I'm sure! No wonder the SP stays down, even with all the buying.
"You continued to call USOG a pink sheet and posting generalizations about pink sheets that weren't true for USOG because it was otcqb, and you never clearly aknowledged this point until now."
And where did I "acknowledge" that in my post?
Here is my post and my comments after each statement in ( );
"I think we are talking about two different things here. You are talking about USOG'S TIER level with the OTC market before suspension, and the OTC'S requirement for that TIER, OTCQB."
(If I have disputed the above statement, please post it.)
What I posted just explains the whole OTC/Pink market in general, and explains the OTC tiers and their requirements. Not ALL tiers require reporting.
(If I have disputed the above statement, please post it.)
You just pulled out one small portion (Regulatory status) of my post where it says; "To be quoted via Pink Sheets, companies do not need to fulfill any requirements (e.g. filing financial statements with the SEC)." Now that is true for the LOWER tiers. I never said that was true for USOG.
(Now maybe I should have clarified a little better on the last sentence that says; "Now that is true for the LOWER tiers. I never said that was true for USOG.")
(Maybe It should have read; "Now that is true as far as the SEC is concerned, and for the OTC'S LOWER tiers." I never said that was true for USOG or the OTC'S upper tier requirements. You seem to be mixing up what the SEC says is or isn't required by them, with what the OTC Markets requirements are to be in the different OTC tiers)
( Please read this from the SEC'S own website, along with a lot of other info concerning the OTC markets; http://www.sec.gov/investor/pubs/microcapstock.htm)
"No Minimum Listing Standards*** Companies that trade their stocks on major exchanges and in the Nasdaq Stock Market must meet minimum listing standards. For example, they must have minimum amounts of net assets and minimum numbers of shareholders. In contrast, companies on the OTCBB or the Pink Sheets do not have to meet any minimum standards."
(When the SEC says; In contrast, companies on the OTCBB or the Pink Sheets do not have to meet any minimum standards, they are talking about the SEC'S standards, not the OTC'S standards/requirements)
(But now with that said I continued my post with the OTC'S requirements)
Notice further down in my post under OTCQB, it says;
"The OTCQB tier designates OTC-traded companies that have operating businesses and provide substantial disclosure to the marketplace. OTCQB is the middle tier of the OTC market. OTCQB companies are reporting with the SEC or a U.S. banking regulator, making it easy for investors to identify companies that are current in their reporting obligations. There are no financial or qualitative standards to be in this tier."
(Now notice the SEC doesn't require USOG or any other OTC company to be reporting to them but the OTC requires it for them to be in the OTC'S upper tiers as USOG was before suspension.
(If I have disputed any of the above statements, please post it.)
I think we are talking about two different things here. You are talking about USOG'S TIER level with the OTC market before suspension, and the OTC'S requirement for that TIER, OTCQB.
What I posted just explains the whole OTC/Pink market in general, and explains the OTC tiers and their requirements. Not ALL tiers require reporting.
You just pulled out one small portion (Regulatory status) of my post where it says; "To be quoted via Pink Sheets, companies do not need to fulfill any requirements (e.g. filing financial statements with the SEC)." Now that is true for the LOWER tiers. I never said that was true for USOG.
Notice further down in my post under OTCQB, it says;
"The OTCQB tier designates OTC-traded companies that have operating businesses and provide substantial disclosure to the marketplace. OTCQB is the middle tier of the OTC market. OTCQB companies are reporting with the SEC or a U.S. banking regulator, making it easy for investors to identify companies that are current in their reporting obligations. There are no financial or qualitative standards to be in this tier."
My Quote which was copied and pasted from wikipedia: “A Pink Sheet company does not even need to meet minimum SEC requirements, or even file with the SEC, let alone be truthful with their investors.”
Now you say; "This QUOTE IS WRONG AS I HAVE Said MANY TIMES. USOG DID HAVE TO FILE WITH THE SEC. IT IS EASY to go to THE OTCMARKET webpage itself AND FIND OUT HOW THEY OPERATE. OTCQB companies MUST FILE WITH THE SEC ON TIME AND HAVE AUDITED YEARLY FINANCIALS."
That may be true in order for USOG to meet the OTC TIER standards but here is what the SEC has on what I posted. Note the last sentence. "companies on the OTCBB or the Pink Sheets do not have to meet any minimum standards."
I never said USOG didn't file with the SEC, just that companies on the OTCBB or the Pink Sheets do not have to meet any minimum standards.
http://www.sec.gov/investor/pubs/microcapstock.htm
How Are Microcap Stocks Different From Other Stocks?
No Minimum Listing Standards Companies that trade their stocks on major exchanges and in the Nasdaq Stock Market must meet minimum listing standards. For example, they must have minimum amounts of net assets and minimum numbers of shareholders. In contrast, companies on the OTCBB or the Pink Sheets do not have to meet any minimum standards.
"I guess this is too hard to find on the site. anyway, otcmarkets webpage is full of 'misinfo'. better to get your info from wiki or investipedia."
Could you please backup your above statement about the "misinfo" about the "OTC Markets Group, Inc." that I listed from "Wikipedia, the free encyclopedia" and "investopedia".
Just because they changed their name (put lipstick on the pig) a few years ago, and established a categorization system to indicate the level of financial and corporate disclosure provided by the companies using its quotation system, they are still the same company that simply facilitates the exchange of securities between qualified independent brokers.
Here it is again. Please correct the "misinfo" you speak of. Fire away!
http://en.wikipedia.org/wiki/OTC_Markets_Group,_Inc.
OTC Markets Group, Inc.
From Wikipedia, the free encyclopedia
OTC Markets Group, Inc. informally known as "Pink Sheets" is a private company that provides services to the U.S. over-the-counter (OTC) securities market including electronic quotations, trading, messaging, and information platforms. According to the U.S. Securities and Exchange Commission, OTC Markets Group, Inc. is not a stock exchange. The company simply facilitates the exchange of securities between qualified independent brokers.
History
The company was first established in 1913 as The National Quotation Bureau (NQB). For decades, the NQB reported quotations for both stocks and bonds, publishing the quotations in the paper-based Pink Sheets and Yellow Sheets respectively. The publications got their names from the color of paper they were printed on.
Regulatory status
Pink Sheets is not a stock exchange. To be quoted via Pink Sheets, companies do not need to fulfill any requirements (e.g. filing financial statements with the SEC). With the exception of foreign issuers, mostly represented by ADRs, the companies quoted in the Pink Sheets tend to be closely held, extremely small, thinly traded, or bankrupt. Most do not meet the minimum U.S. listing requirements for trading on a stock exchange such as the New York Stock Exchange. Many of these companies do not file periodic reports or audited financial statements with the SEC, making it very difficult for investors to find reliable, unbiased information about those companies.
For these reasons the SEC views companies listed on Pink Sheets as "among the most risky investments"[1] and advises potential investors to heavily research the companies in which they plan to invest.
http://www.investopedia.com/terms/p/pinksheets.asp#axzz1Wokb6k00
Pink Sheets
What Does Pink Sheets Mean?
A daily publication compiled by the National Quotation Bureau with bid and ask prices of over-the-counter (OTC) stocks, including the market makers who trade them. Unlike companies on a stock exchange, companies quoted on the pink sheets system do not need to meet minimum requirements or file with the SEC. Pink sheets also refers to OTC trading.
Investopedia explains Pink Sheets
The pink sheets got their name because they were actually printed on pink paper. You can tell whether a company trades on the pink sheets because the stock symbol will end in ".PK".
http://www.investopedia.com/terms/n/national-quote-bureau.asp#axzz1Wokb6k00
National Quotation Bureau - NQB
What Does National Quotation Bureau - NQB Mean?
A privately-owned company that was established in 1913 to provide investors with information on stocks and bonds traded over the counter (OTC). The company now mainly offers electronic services, including data access, on its website. NQB changed its name to Pink Sheets LLC in 2000 and then to Pink OTC Markets Inc. in 2008. It is considered a non-exclusive securities information provider by the Securities and Exchange Commission (SEC).
Investopedia explains National Quotation Bureau - NQB
NQB published information on OTC stocks and bonds for decades in the Pink Sheets and Yellow Sheets, which were named for the color of paper on which they were printed. Stock quotes were published on the Pink Sheets, while corporate bonds were quoted on the Yellow Sheets.
Pink Sheet stocks include penny stocks and other companies that are not traded on exchanges. These stocks can pose added risk for investors, because they may not be current on filing financial statements, may not file at all, or, in extreme cases, may not even be legitimate companies. Information sources, such as Pink OTC Markets, help investors find information on these less liquid and less regulated stocks.
Now within Pink Sheets/OTC, they have their own market tiers as explained below. Notice they say; "Pink Sheets market tiers"
Pink Sheets market tiers
Pink Sheets established a categorization system to indicate the level of financial and corporate disclosure provided by the companies using its quotation system. The disclosure categories do not signify issuer quality or merit of any security. Categorization is based on the level and timeliness of a company's disclosure and any category can include speculative, distressed, or questionable companies. Investors are encouraged to use caution when considering these companies for investment.
OTCQX
OTCQX is the top tier of the OTC market. Exclusively for companies that meet financial standards and undergo a qualitative review. Investor focused companies use the quality-controlled OTCQX platform to offer investors transparent trading, superior information, and easy access through their regulated U.S. broker-dealers. OTCQX is a market tier is for domestic (U.S.) companies registered with and reporting to the Securities and Exchange Commission or a banking or insurance regulator.
[
OTCQB
The OTCQB tier designates OTC-traded companies that have operating businesses and provide substantial disclosure to the marketplace. Although OTCQBX companies are not SEC reporting entities, they must provide audited financials and certain disclosures to Pink OTC Markets. OTCQB is the middle tier of the OTC market. OTCQB companies are reporting with the SEC or a U.S. banking regulator, making it easy for investors to identify companies that are current in their reporting obligations. There are no financial or qualitative standards to be in this tier.
OTC Pink — The Speculative Trading Marketplace
OTC Pink is the third tier of the OTC market. OTC Pink is the speculative trading marketplace that has no financial standards or reporting requirements. OTC Pink companies choose the level of information they provide to investors and may have current, limited or no public disclosure.
Current Information
The Current Information tier indicates companies that have submited information no older than six months to the Pink Sheets News Service or have made a filing on the SEC's EDGAR system in the previous six months. This category includes shell companies or development stage companies with little or no operations as well as companies without audited financial statements and as such should be considered extremely speculative by investors.
Limited Information
The Limited Information tier is designed for companies that are unwilling or unable to meet Pink Sheets' Guidelines for Providing Adequate Current Information. Companies in this tier have submitted some but not all of current information required. These are often companies with financial reporting problems, economic distress, or in bankruptcy.
No Information
This tier indicates companies that are unwilling or unable or willing to provide disclosure to the public markets - either to a regulator, a stock exchange or Pink Sheets. Companies in this category do not make Current Information available via Pink Sheets News Service, or if they do, the available information is older than six months. This category includes defunct companies that have ceased operations as well as 'dark' companies with questionable management and market disclosure practices. Publicly traded companies that are not willing to provide information to investors should be treated with suspicion and their securities should be considered highly risky.
Caveat Emptor - Buyer Beware
There is a public interest concern associated with the company. This may include a spam campaign, stock promotion or known investigation of fraudulent activity committed by the company or insiders. During a spam campaign, any stock that is not in the Current Information category will also have its quotes blocked on pinksheets.com.
[
Other OTC markets
Main article: Over-the-counter (finance)
OTCBB
The OTC Bulletin Board (OTCBB) is a listing of securities that are also traded "over the counter" similar to the Pink Sheets, but unlike Pink Sheet companies, OTCBB companies are required to file timely reports with the U.S. Securities and Exchange Commission. Many OTCBB companies are also quoted via Pink Sheets' electronic quotation system.
[
Grey Market
Securities that are not listed on any stock exchange nor formally quoted via the OTCBB or Pink Sheets are considered to be in the Grey Market. Unsolicited transactions are processed independently and not centrally listed or quoted. Trades are reported to a Self-regulatory organization (SRO), which then passes the data on to market data companies.
My Quote: "As for Alex, he was NOT your friend, as some believe here. He knew full well why these Pink Sheet companies exist, and how they operate. GL"
Your reply; "never said he was my friend."
And I never said that YOU said that! I said ; "as some believe here." which was in reference to posts like this;
Post # 33413, "blame Alex?? why is that? ... he is a hired company manager. a nobody. investors started this company with a silly idea of buying up companies with no money of their own. OUR MONEY!! the idea was just great. did not work. so now his name is on the list to FIRE as a scape goat. somebody else going to do better??"
My Quote which was copied and pasted from wikipedia: “A Pink Sheet company does not even need to meet minimum SEC requirements, or even file with the SEC, let alone be truthful with their investors.”
My statement concerning USOG; “USOG WAS required to report and meet minimum SEC requirements, this is how it got into trouble. for the last time it was not a damn pinksheet it was otcqb, registered and reporting. there is a difference and if you don't know this you should not be giving advice to anyone.”
Well for the last time, here is what Wikipedia and Investopedia says on the subject, which is what I quoted. Argue with them all you want!
Write to them and tell them “there is a difference and if you don't know this you should not be giving advice to anyone”, not me!
http://en.wikipedia.org/wiki/OTC_Markets_Group,_Inc.
OTC Markets Group, Inc.
From Wikipedia, the free encyclopedia
OTC Markets Group, Inc. informally known as "Pink Sheets" is a private company that provides services to the U.S. over-the-counter (OTC) securities market including electronic quotations, trading, messaging, and information platforms. According to the U.S. Securities and Exchange Commission, OTC Markets Group, Inc. is not a stock exchange. The company simply facilitates the exchange of securities between qualified independent brokers.
History
The company was first established in 1913 as The National Quotation Bureau (NQB). For decades, the NQB reported quotations for both stocks and bonds, publishing the quotations in the paper-based Pink Sheets and Yellow Sheets respectively. The publications got their names from the color of paper they were printed on.
Regulatory status
Pink Sheets is not a stock exchange. To be quoted via Pink Sheets, companies do not need to fulfill any requirements (e.g. filing financial statements with the SEC). With the exception of foreign issuers, mostly represented by ADRs, the companies quoted in the Pink Sheets tend to be closely held, extremely small, thinly traded, or bankrupt. Most do not meet the minimum U.S. listing requirements for trading on a stock exchange such as the New York Stock Exchange. Many of these companies do not file periodic reports or audited financial statements with the SEC, making it very difficult for investors to find reliable, unbiased information about those companies.
For these reasons the SEC views companies listed on Pink Sheets as "among the most risky investments"[1] and advises potential investors to heavily research the companies in which they plan to invest.
http://www.investopedia.com/terms/p/pinksheets.asp#axzz1Wokb6k00
Pink Sheets
What Does Pink Sheets Mean?
A daily publication compiled by the National Quotation Bureau with bid and ask prices of over-the-counter (OTC) stocks, including the market makers who trade them. Unlike companies on a stock exchange, companies quoted on the pink sheets system do not need to meet minimum requirements or file with the SEC. Pink sheets also refers to OTC trading.
Investopedia explains Pink Sheets
The pink sheets got their name because they were actually printed on pink paper. You can tell whether a company trades on the pink sheets because the stock symbol will end in ".PK".
http://www.investopedia.com/terms/n/national-quote-bureau.asp#axzz1Wokb6k00
National Quotation Bureau - NQB
What Does National Quotation Bureau - NQB Mean?
A privately-owned company that was established in 1913 to provide investors with information on stocks and bonds traded over the counter (OTC). The company now mainly offers electronic services, including data access, on its website. NQB changed its name to Pink Sheets LLC in 2000 and then to Pink OTC Markets Inc. in 2008. It is considered a non-exclusive securities information provider by the Securities and Exchange Commission (SEC).
Investopedia explains National Quotation Bureau - NQB
NQB published information on OTC stocks and bonds for decades in the Pink Sheets and Yellow Sheets, which were named for the color of paper on which they were printed. Stock quotes were published on the Pink Sheets, while corporate bonds were quoted on the Yellow Sheets.
Pink Sheet stocks include penny stocks and other companies that are not traded on exchanges. These stocks can pose added risk for investors, because they may not be current on filing financial statements, may not file at all, or, in extreme cases, may not even be legitimate companies. Information sources, such as Pink OTC Markets, help investors find information on these less liquid and less regulated stocks.
Now within Pink Sheets/OTC, they have their own market tiers as explained below. Notice they say; "Pink Sheets market tiers"
Pink Sheets market tiers
Pink Sheets established a categorization system to indicate the level of financial and corporate disclosure provided by the companies using its quotation system. The disclosure categories do not signify issuer quality or merit of any security. Categorization is based on the level and timeliness of a company's disclosure and any category can include speculative, distressed, or questionable companies. Investors are encouraged to use caution when considering these companies for investment.
OTCQX
OTCQX is the top tier of the OTC market. Exclusively for companies that meet financial standards and undergo a qualitative review. Investor focused companies use the quality-controlled OTCQX platform to offer investors transparent trading, superior information, and easy access through their regulated U.S. broker-dealers. OTCQX is a market tier is for domestic (U.S.) companies registered with and reporting to the Securities and Exchange Commission or a banking or insurance regulator.
[
OTCQB
The OTCQB tier designates OTC-traded companies that have operating businesses and provide substantial disclosure to the marketplace. Although OTCQBX companies are not SEC reporting entities, they must provide audited financials and certain disclosures to Pink OTC Markets. OTCQB is the middle tier of the OTC market. OTCQB companies are reporting with the SEC or a U.S. banking regulator, making it easy for investors to identify companies that are current in their reporting obligations. There are no financial or qualitative standards to be in this tier.
OTC Pink — The Speculative Trading Marketplace
OTC Pink is the third tier of the OTC market. OTC Pink is the speculative trading marketplace that has no financial standards or reporting requirements. OTC Pink companies choose the level of information they provide to investors and may have current, limited or no public disclosure.
Current Information
The Current Information tier indicates companies that have submited information no older than six months to the Pink Sheets News Service or have made a filing on the SEC's EDGAR system in the previous six months. This category includes shell companies or development stage companies with little or no operations as well as companies without audited financial statements and as such should be considered extremely speculative by investors.
Limited Information
The Limited Information tier is designed for companies that are unwilling or unable to meet Pink Sheets' Guidelines for Providing Adequate Current Information. Companies in this tier have submitted some but not all of current information required. These are often companies with financial reporting problems, economic distress, or in bankruptcy.
No Information
This tier indicates companies that are unwilling or unable or willing to provide disclosure to the public markets - either to a regulator, a stock exchange or Pink Sheets. Companies in this category do not make Current Information available via Pink Sheets News Service, or if they do, the available information is older than six months. This category includes defunct companies that have ceased operations as well as 'dark' companies with questionable management and market disclosure practices. Publicly traded companies that are not willing to provide information to investors should be treated with suspicion and their securities should be considered highly risky.
Caveat Emptor - Buyer Beware
There is a public interest concern associated with the company. This may include a spam campaign, stock promotion or known investigation of fraudulent activity committed by the company or insiders. During a spam campaign, any stock that is not in the Current Information category will also have its quotes blocked on pinksheets.com.
[
Other OTC markets
Main article: Over-the-counter (finance)
OTCBB
The OTC Bulletin Board (OTCBB) is a listing of securities that are also traded "over the counter" similar to the Pink Sheets, but unlike Pink Sheet companies, OTCBB companies are required to file timely reports with the U.S. Securities and Exchange Commission. Many OTCBB companies are also quoted via Pink Sheets' electronic quotation system.
[
Grey Market
Securities that are not listed on any stock exchange nor formally quoted via the OTCBB or Pink Sheets are considered to be in the Grey Market. Unsolicited transactions are processed independently and not centrally listed or quoted. Trades are reported to a Self-regulatory organization (SRO), which then passes the data on to market data companies.
I posted; "No Bank would touch USOG, or any other Pink Sheet/OTC company with a ten foot pole! Banks require that you have a verifiable legitimate business plan."
You responded; "BS. all they needed was to have enough collateral (i.e. assets, accounts recievable, etc) and the ability to pay it back which could have been managed if they would have tried to find a bank."
Your "BS" quote is BS! Well of corse all they needed was to have enough collateral but the FACT is they DIDN'T! USOG had more debt than they were worth. They can't pay down ANY debt because their operating expenses are greater than their income. Instead they pay down debt by issuing more and more shares. (Shares Outstanding 2,312,209,521 a/o May 16, 2011)
Now they need to do a 1000 to 1 RS so they can issue more worthless shares for debts due!
Below is a list of their debts which doesn't include shareholder debt.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8097627
Note 9. Debt
Debt consisted of the following:
June 30, 2011
December 31, 2010
Short term:
Unsecured convertible notes payable with annual interest rate of 5% 1
$ - $ 259,800
Unsecured convertible notes payable with annual interest rate of 10% 2
64,954 64,954
Unsecured convertible notes payable with annual interest rate of 8% 3
125,000 50,000
Convertible note payable with interest payable quarterly 4
650,000 750,000
Long-term:
Unsecured convertible notes payable - annual interest of 10% 2
320,000 -
Discount on convertible notes from derivative valuation
(208,591 ) (265,152 )
Total convertible notes
951,363 859,602
Unsecured related party notes payable 5
350,803 631,103
Common Stock payable 6
- 150,000
Notes payable on capital equipment 7
63,042 87,592
Long term unsecured related party note payable with 5% annual interest 8
3,615,624 3,750,000
Total Debt
$ 4,980,832 $ 5,478,297
1 Notes bear 5% interest and become due in 2011. No interest payments are required and the note can be converted to common stock by the note holder or the company. The note holder can convert the note into common stock at 50% of the average closing bid price of the Common Stock for the ten days prior to the date of conversion. All notes have been converted to stock as of April 13, 2011. There was no accrued interest expense payable at June 30, 2011.
2 Convertible notes bear 10% interest, payable in stock upon conversion. The note includes a conversion feature whereby the holder can convert the note at any time into common stock at 80% of the average price per share over the last fiscal quarter. There is no accrued interest at June 30, 2011. There was $6,071 of accrued interest payable at June 30, 2011. Notes are due on demand.
3 Convertible notes bear 8% interest, payable in stock upon conversion. The note holder can convert the note after six months into common stock at 45% of the average price per share over the last fiscal quarter. Notes are due from September 30, 2011 to January 25, 2012, and there was $4,497 in accrued interest payable at June 30, 2011.
4 The note bears 8% annual interest that is payable quarterly. The note originally came due on April 9, 2011 but was extended to December 31, 2011. Note may be converted to common stock by note holder. The note holder can convert the note into common stock at 80% of most recent public trading value anytime before note becomes due. During the second fiscal quarter of 2011, the noteholder sold $100,000 of the note to a third party that converted the debt into 100 million shares of common stock. There was $10,475 of accrued interest at June 30, 2011.
5 Balance primarily consists of note for $500,000 to Debbie Werner of which $340,000 remains due at June 30, 2011. The note is due December 31, 2011 and bears 5% interest. During the second fiscal quarter of 2011, Ms Werner sold $100,000 of the note to a third party that converted the debt into 100 million shares of common stock. There was $34,713 of accrued interest at June 30, 2011. Remaining balance of $10,803 consists of related party debt bearing no interest.
6 Balance consists $150,000 of common stock due to Debbie Werner. The payable was part of the acquisition agreement dated January 1, 2010. Stock was paid in February 2011.
7 Balance consists of four notes payable on capital equipment. The average interest rate is 9%. $41,423 is current and due in 2011. $21,619 is long term and due beyond 2011. There was no accrued interest at June 30, 2011.
8 Balance primarily consists of note to Jeff Turnbull. This note was extended from April 9, 2010 to December 31, 2010 in exchange for increasing balance of the note from $3,750,000 to $4,000,000. The $250,000 increase was booked as finance fee expense in the first quarter of 2010. During the quarter ended September 30, 2010, Jeff Turnbull converted $250,000 of note payable into 500 million shares of common stock. The balance was reduced to $3,750,000 in July, 2010 when Mr. Turnbull converted $250,000 of the debt into 500 million shares of USOG common stock. In the first six months of 2011, Mr. Turnbull sold an additional $300,000 of the debt to third parties who converted the debt into 233 million shares of common stock. In December, 2010, the note term was extended to December 31, 2012. The note earns 2% interest in 2011 and 10% interest in 2012. Note balance at June 30, 2011 was $3,450,000. There was $34,559 of accrued interest at June 30, 2011. The remaining balance of $165,624 at June 30, 2011 is unsecured note payable with zero interest to related party. The amount of imputed interest was immaterial to the financial statements.
"Rob Hicks to: the person who brought the complaint: namely, Sec-Investigator whose real salutation is the not the XXXXXXX but is known."
So if it was NOT addressed to Sec-Investigator, who was it addressed to?
Now since you posted the letter from Rob Hicks, that you can't seem to give a link to, it must have been a personal response to you, and in your own words; "IHUB TOS would deem the post to be deleted". Now if it wasn't to you, how did you get ANYONE'S personal email in order to post it?
I am not asking for anyones PERSONAL EMAIL ADDRESS, just who it was sent to, from Rob Hicks to ?????
"Of course I would use XXXXXXXXXXXXX in regards to the personal email account from which the complaints were sent."
Now you are saying; "Of course I would use XXXXXXXXXXXXX in regards to the personal email account from which the complaints were sent."
The problem is, what you posted was; "Rob Hicks to XXXXXXXXXXXXX: I think you are sadly mistaken."
which is to someone's name, not a "personal email account"
And just how did you get ANYONE'S personal email?????
Now if they posted it on a message board, it wouldn't be PERSONAL anymore.
You are still just hinting that it was Sec-Investigator you Xed out but not saying it outright!
"Yes, I do have the name on the emails which I stated as XXXXXXXXXXXXXXXXX"
WELL, what was the name on the emails you Xed out???? If it was Sec-Investigator, you wouldn't have Xed it out!
"Alex is a thief, and has fled with your money, like a bank robber. Thieves are allowed to steal in pinkyland, that is why they are here!"
Very true!
That is why I said: "As for Alex, he was NOT your friend, as some believe here. He knew full well why these Pink Sheet companies exist, and how they operate."
Here is one of the posts I was referring to when I said that; "blame Alex?? why is that? ... he is a hired company manager. a nobody. investors started this company with a silly idea of buying up companies with no money of their own. OUR MONEY!! the idea was just great. did not work. so now his name is on the list to FIRE as a scape goat. somebody else going to do better??"
"I just wonder if Alex ever heard of this thing called a bank, you know where they lend you money and you promise to pay it back with interest?"
You may not have realized it but you just gave the reason why these Pink Sheet/OTC companies exist.
No Bank would touch USOG, or any other Pink Sheet/OTC company with a ten foot pole! Banks require that you have a verifiable legitimate business plan.
A Pink Sheet company does not even need to meet minimum SEC requirements, or even file with the SEC, let alone be truthful with their investors. Why our government allows this is beyond me! Pink Sheets are the cesspool of our financial markets, where ordinary investors should NOT be investing, as many here have found out the hard way.
As for Alex, he was NOT your friend, as some believe here. He knew full well why these Pink Sheet companies exist, and how they operate. GL
"JUST GETTING ATTENTION *****I am certain something is cooking here"
You were so RIGHT! Although, I don't think this was the "ATTENTION" you were expecting, or what you thought was "cooking here".
Oh Yeah! A whole $150.50 worth! That oughta pay for lunch!
You are correct pepeoil!
But just like GSRE, they use this 50 year old Hydrocarbon imaging to SCAM investors!
ChiefEO , Please read over these QOIL PR’S (Below) from 9/9/2010 through 2/4/2011 concerning the oil wells GSRE is doing a reverse merger into, or acquiring. Note all the work over’s they are claiming to have done and all the great sounding results from all those work overs.
Now you claim; “I just met with Joe Wallen, President and CEO of Quest Oil. He rolled his properties, the properties in Eastland County that we are going to develop, into Quest Oil last year when they promised him that they could raise money for him, but they couldn't follow through.
These fields are not sexy, but when they were shut in they were producing 3 - 5 barrels of oil per day. As they needed maintenance they were shut in. We think this is a great play and like the economics of it. The cost to re-work a well and bring it online is around $7,000 and the return on investment is less than 8 weeks at 3 barrels per day.”
My question to you, QOIL has just put out several PR’S claiming they have already done work over’s, maintenance, and improvements but now you say QOIL’S CEO claims they didn’t raise the money to do the workovers, maitenance, and improvements.
Now just where do you expect to get the money? So who’s lying here?
It looks to me like QOIL lied to their investors in those PR’s and GSRE is going to do the same if you do a “Reverse Merger with Questus Energy, LLC.”
Is Joe Wallen going to be GSRE’S new management?
Is GSRE going to inherit QOIL’S debt’s and ??????
Please enlighten your shareholders as to what is REALLY going on here.
QOIL PR'S;
http://ih.advfn.com/p.php?pid=nmona&article=44310204
09/09/2010 Quest Oil Announces the Initial Stage of the Drilling Program on the Hawkeye-Midkiff Fields
Quest Oil, Corp. (Pink Sheets: QOIL) is pleased to announce that its engineering team has begun its drilling program evaluation for the Hawkeye-Midkiff fields. The drilling program will be determined from the use of the hydrocarbon imaging plat that has been completed as well as geological studies. The initial drilling well location has been picked with the survey and construction of the location to be completed prior to drilling. We are in discussions with drilling contractors to determine the availability and time frame for a drilling rig.
Joe Wallen, CEO of Quest Oil, commented, “We are excited about the potential of our drilling program. With the use of the hydrocarbon imaging plat in helping to determine our drilling strategy we feel confident this will allow us to be successful in drilling. We are also confident that we can increase production from the drilling as well as from the workover program.”
http://ih.advfn.com/p.php?pid=nmona&article=44318981
09/10/2010 Quest Oil Initiates Workover Program on Hawkeye-Midkiff Fields
Quest Oil Corp. (Pink Sheets: QOIL) is pleased to provide an update on the recently announced 50 well workover program released on September 8, 2010. Over the past few days, work crews have completed a mechanical workover on three pump jacks by upgrading equipment, removing and installing new flow lines, performing electrical systems checks and rewiring outdated copper lines.
The rig and work crews are proactively performing Mechanical Root Cause Workovers. This term applies to Surface or down-hole hardware failure being the most obvious reason for a workover. If the problem is down-hole, all equipment must be pulled from the wellbore. In some cases, the purpose of intervention may be to upgrade pumping equipment, reperforate the well, or access a new zone.
Mr. Frank Grabs, VP of Operations and Director of Quest Oil commented, “I am very pleased at the performance of the team and the ability to diagnose and repair the pump jacks. The Company has scheduled 45 days to complete the ‘Phase One’ plan. At this rate, I expect we will be well ahead of schedule. Having a proactive approach to workover programs will allow our team to notice and address any problems before serious production shut down can occur.”
http://ih.advfn.com/p.php?pid=nmona&article=44339761
09/13/2010 Quest Oil Announces “Bonanza 1” Spud Date
Quest Oil Corporation, (PINK: QOIL) ("Quest Oil" or the "Company") is pleased to announce that a spud date has been set for the newest development well at the producing oil & gas Hawkeye-Midkiff lease, located in Eastland County, Texas. The initial drilling well location has been picked with the survey and construction of the location to be completed prior to the commencement of drilling.
The well has been designated “Bonanza 1” and is scheduled to spud on October 29th. The sizeable anomaly was identified and confirmed by recent Hydrocarbon Imaging Services, Inc.(HIS) in July this year. The well target is slated for a total depth (T.D.) of 3,500 feet to test the Ellenburger pay zone, Marble Falls limestone and the Barnett Shale . Once drilling commences it is anticipated to take 7 days to reach the T.D. after which any prospective oil shows will be tested. The Company has identified a minimum of 10 target locations to drill in the Ellenburger, Marble Falls and Barnett Shale.
About the Hawkeye-Midkiff Project:
The Haweye-Midkiff project is located in southwestern Eastland County, Texas, 200 miles west south west of Dallas, Texas, and totals 1,040 acres adjacent to the western edge of historical oil and gas plays and faulting structures of the Ft. Worth Basin.
The initial discovery of the anomaly was by Hydrocarbon Imaging Services, Inc. (HIS) overseen by Company director Robert Clark. “… HIS found the Hawkeye-Midkiff Leases holding significant commercial hydrocarbons.“ The leases have historical production totaling 208,000 barrels of oil beginning in 1998 with production at initial rates of over 100 barrels per day. After a review of the data of the imaging the potential barrels of oil estimated by Hydrcarbon Imaging Services, Inc. are 11.8 MBO (M equals a million) reserves recoverable, proved undeveloped. HIS has provided the following comment on this calculation, “HIS is very conservative on its reserve estimates. We certainly recommend further evaluation of logs, cores and other analog production in the area.”
http://ih.advfn.com/p.php?pid=nmona&article=44423142
09/17/2010
Quest Oil Corporation Announces an Update on the Workover Program on the Hawkeye-Midkiff Fields
Quest Oil, Corp. (Pink Sheets: QOIL) is pleased to announce an update on the workover program conducted on the Hawkeye-Midkiff fields in Eastland County, Texas. Well hook-up was initiated with the installation of flow lines connected to 4 wells ready to and capable of producing as well as laying electric cable to the wells for electric motor hook-up. The electricity was recently supplied to these wells to initiate production. The wells have produced on a limited time due to the weather delays in commencing the workover program at a rate of oil production that was expected plus more.
Mr. Frank Grabs, VP of Operations and Director of Quest Oil commented, "Once we got past the weather delays we were able to complete our operations on the initial wells this week placing the wells into production. The crews will continue the ongoing workover program this coming week. Daily production rates will increase with the added wells we plan to place on line and produce."
More updates on the progress of the workover program will be issued next week.
http://ih.advfn.com/p.php?pid=nmona&article=44445288
09/20/2010 Quest Oil Corporation: Workover Program Continues This Week on the Hawkeye-Midkiff Fields
Quest Oil, Corp. (Pinksheets: QOIL) announced the workover program initiated last week on the Hawkeye-Midkiff fields in Eastland County, Texas has continued this week. Additional well hook-ups will continue. Production has continued to improve from last week’s operations.
Mr. Joe Wallen, CEO and Director of Quest Oil, commented, “Operations will continue into this week, placing additional wells into production with the setting of pump jacks and additional flowline. Daily oil production will steadily increase as the days move forward with the adjustments of the producing wells from last week and the new wells this week.”
http://ih.advfn.com/p.php?pid=nmona&article=45709435
12/17/2010 Quest Oil Corporation Production and Workover Update
Quest Oil Corp. (Pink Sheets: QOIL) announced the ongoing workover program on the Hawkeye-Midkiff fields in Eastland County, Texas has resulted in the anticipated increase in daily production. Additional well hook-ups will continue to increase and improve production operations. Current production is at 22 barrels of oil per day with added increase daily production.
Mr. Joe Wallen, CEO and Director of Quest Oil, commented, "A lot of the existing wells have been shut in from previous operators and take more work than just the basic rig and pulling of the wells. However, once the wells are on a consistent producing program the wells will settle in a consistent daily production."
The negotiations for the west Texas projects are in the final stage. Quest anticipates the negotiations should be finalized at the first of next month.
http://ih.advfn.com/p.php?pid=nmona&article=46315159
02/04/2011 Quest Oil Corporation: Operations Update
Quest Oil Corp. (Pink Sheets: QOIL) announced the workover program on the Hawkeye-Midkiff fields in Eastland County, Texas continues resulting in the anticipated increase in daily production. Quest has acquired its own workover rig to be used on the Eastland County leases for its wells. In addition, Quest is currently pursuing the acquisition of other oil and gas leases.
Mr. Joe Wallen, CEO and Director of Quest Oil commented, "We have had downtime due to weather conditions in the last 30 to 60 days delaying the program. Acquiring the workover rig will help to alleviate any delays and dramatically reduce our costs. We continue our pursuit of additional oil and gas leases, not just in Texas, but throughout the United State, through the use of creative deals that we are very excited about. We will continue our pursuit, to further establish Quest as a legitimate independent oil and gas company. More news on the acquisitions will be out soon."
" Last few days maybe a week there has been a lot of activity...don't know what to make of it.."
Here is my post from the GSRE board where GSRE is buying the oil fields that QOIL owned last year.
This may help you understand these SCAM companies selling worthless old oil fields between each other in order to scam investors.
I posed this question to the GSRE CEO;
ChiefEO, why did you not disclose who the "PRIOR" owners were in your latest GSRE PR? Excerpt from the GSRE PR; "GSRE has reviewed an Enhanced Georadiometric Survey for the Hawkeye and Midkiff field that was commissioned by a prior owner of the property covering approximately 1,100 acres in Eastland County, Texas."
It seems the previous owners are Quest Oil Corp., another PINK SHEET SCAM company pulling the same scams as GSRE has been doing. Notice the QOIL PR (below) about; "QOIL is pleased to announce that initial results from the Hydrocarbon Imaging plat (“HI”) have revealed a large, previously unknown anomaly within the Company’s leases at the Hawkeye and Midkiff Fields."
If this oil field is so GREAT, why didn't QOIL develop it????
What about all the other GSRE PR'S of late about all those other oil field acquisitions??
Are you going to dilute GSRE to the tune of 15Billion shares with all these acquisitions like QOIL has done?
If you are an HONEST CEO, you should disclose the "FULL" details of all these acquisitions but then???
Here is QOIL’S Pink Sheet info.
http://www.otcmarkets.com/stock/QOIL/news/Cease-Trade-Order?id=17240&b=y
Quest Oil Corp.
Common Stock
OTC Pink No Information
Cease Trade Order
Nov 13, 2009
OTC Disclosure & News Service
Vancouver, BC, Canada -
Cease Trade Order
Quest Oil Corporation
QOIL Security Details
Share Structure
Market Value1
$853,205
a/o Aug 23, 2011
Shares Outstanding
8,532,051,219
a/o Sep 30, 2010
Float
8,370,757,457
a/o Oct 20, 2010
Authorized Shares
14,998,000,000
a/o Sep 30, 2010
Par Value
0.001
QOIL PR,
http://www.thestreet.com/story/10855436/quest-oil-initial-results-from-the-hydrocarbon-imaging-plat-reveal-large-anomaly-at-hawkeye-and-midkiff-fields.html
Quest Oil, Corp. (Pink Sheets: QOIL) is pleased to announce that initial results from the Hydrocarbon Imaging plat (“HI”) have revealed a large, previously unknown anomaly within the Company’s leases at the Hawkeye and Midkiff Fields. Hydrocarbon Imaging Services, Inc. performed a georadiametric survey on the Hawkeye-Midkiff leases to determine structure anomalies throughout the current acreage and estimate the hydrocarbon and reserve potential of the leases, as well as an evaluation of the drilling prospects and locations on the leases.
The existing wells on the leases were drilled in the shallower Cross Cut sand. The future reservoir target will be the deeper formations, Ellenberger and others. Using surface conveyed radiation measuring equipment, Hydrocarbon Imaging Services, Inc. found that the Hawkeye-Midkiff leases potentially hold significant commercial hydrocarbons. The Company plans to use the data from the Hydrocarbon Imaging plat to prioritize targets for its workover program.
Joe Wallen, CEO of Quest Oil, commented, “By outlining the boundaries of the gamma ray anomalies, HI can emphasize pictorially the 'hot spots' for hydrocarbon accumulations. One can think of this a 'hydrocarbon topography' based upon intensities of gamma ray absorption. Structural anomalies can influence traps and faults, but this does not appear to be the case in the immediate area of the Hawkeye-Midkiff leases.”
Quest Oil is utilizing Hydrocarbon Imaging, a radiometric imaging technology, in its work program to identify and quantify oil and gas reservoirs and reserves. Initial imaging results have been captured and are currently being evaluated. Hydrocarbon Imaging technology which captures a surface survey of the “radiation footprint” of a given area of geography rivals conventional seismic and downhole logging in both arenas of cost and reserve identification. Utilizing sophisticated field equipment that is coupled with integrated software capabilities, this technology is a thorough, flexible, useful, and cost effective means of collecting exploratory hydrocarbon data.
Check out QOIL’S PR’S and their simularity to GSRE’S PR’S here;
http://ih.advfn.com/p.php?pid=squote&symbol=QOIL
Here is QOIL’S IH message board
http://investorshub.advfn.com/boards/board.aspx?board_id=3735
"Warning - They are Diluting !!"
That's an understatement! OS 8,532,051,219, AS 14,998,000,000, and that is, a/o Sep 30, 2010.
Who knows what the OS and AS is now!
Here is QOIL’S Pink Sheet info.
http://www.otcmarkets.com/stock/QOIL/news/Cease-Trade-Order?id=17240&b=y
Quest Oil Corp.
Common Stock
OTC Pink No Information
Cease Trade Order
Nov 13, 2009
OTC Disclosure & News Service
Vancouver, BC, Canada -
Cease Trade Order
Quest Oil Corporation
QOIL Security Details
Share Structure
Market Value1
$853,205
a/o Aug 23, 2011
Shares Outstanding
8,532,051,219
a/o Sep 30, 2010
Float
8,370,757,457
a/o Oct 20, 2010
Authorized Shares
14,998,000,000
a/o Sep 30, 2010
Par Value
0.001
Surprise, Surprise!!! More proof that this is just a bunch of SCAM companies working together, trading old worthless oilfields back and forth between each other, using 50 year old technology to claim Millions in reserves to SCAM investors.
ChiefEO, when are you going to answer my question about QOIL?
Why did you not disclose who the "PRIOR" owners were in your latest GSRE PR?
Excerpt from the GSRE PR; "GSRE has reviewed an Enhanced Georadiometric Survey for the Hawkeye and Midkiff field that was commissioned by a prior owner of the property covering approximately 1,100 acres in Eastland County, Texas."
It seems the previous owners are Quest Oil Corp., another PINK SHEET SCAM company pulling the same scams as GSRE has been doing. Notice the QOIL PR (below) about; "QOIL is pleased to announce that initial results from the Hydrocarbon Imaging plat (“HI”) have revealed a large, previously unknown anomaly within the Company’s leases at the Hawkeye and Midkiff Fields."
If this oil field is so GREAT, why didn't QOIL develop it????
What about all the other GSRE PR'S of late about all those other oil field acquisitions??
Are you going to dilute GSRE to the tune of 15 Billion shares with all these acquisitions like QOIL has done?
If you are an HONEST CEO, you should disclose the "FULL" details of all these acquisitions but then???
Here is QOIL’S Pink Sheet info.
http://www.otcmarkets.com/stock/QOIL/news/Cease-Trade-Order?id=17240&b=y
Quest Oil Corp.
Common Stock
OTC Pink No Information
Cease Trade Order
Nov 13, 2009
OTC Disclosure & News Service
Vancouver, BC, Canada -
Cease Trade Order
Quest Oil Corporation
QOIL Security Details
Share Structure
Market Value1
$853,205
a/o Aug 23, 2011
Shares Outstanding
8,532,051,219
a/o Sep 30, 2010
Float
8,370,757,457
a/o Oct 20, 2010
Authorized Shares
14,998,000,000
a/o Sep 30, 2010
Par Value
0.001
QOIL PR,
http://www.thestreet.com/story/10855436/quest-oil-initial-results-from-the-hydrocarbon-imaging-plat-reveal-large-anomaly-at-hawkeye-and-midkiff-fields.html
Quest Oil, Corp. (Pink Sheets: QOIL) is pleased to announce that initial results from the Hydrocarbon Imaging plat (“HI”) have revealed a large, previously unknown anomaly within the Company’s leases at the Hawkeye and Midkiff Fields. Hydrocarbon Imaging Services, Inc. performed a georadiametric survey on the Hawkeye-Midkiff leases to determine structure anomalies throughout the current acreage and estimate the hydrocarbon and reserve potential of the leases, as well as an evaluation of the drilling prospects and locations on the leases.
The existing wells on the leases were drilled in the shallower Cross Cut sand. The future reservoir target will be the deeper formations, Ellenberger and others. Using surface conveyed radiation measuring equipment, Hydrocarbon Imaging Services, Inc. found that the Hawkeye-Midkiff leases potentially hold significant commercial hydrocarbons. The Company plans to use the data from the Hydrocarbon Imaging plat to prioritize targets for its workover program.
Joe Wallen, CEO of Quest Oil, commented, “By outlining the boundaries of the gamma ray anomalies, HI can emphasize pictorially the 'hot spots' for hydrocarbon accumulations. One can think of this a 'hydrocarbon topography' based upon intensities of gamma ray absorption. Structural anomalies can influence traps and faults, but this does not appear to be the case in the immediate area of the Hawkeye-Midkiff leases.”
Quest Oil is utilizing Hydrocarbon Imaging, a radiometric imaging technology, in its work program to identify and quantify oil and gas reservoirs and reserves. Initial imaging results have been captured and are currently being evaluated. Hydrocarbon Imaging technology which captures a surface survey of the “radiation footprint” of a given area of geography rivals conventional seismic and downhole logging in both arenas of cost and reserve identification. Utilizing sophisticated field equipment that is coupled with integrated software capabilities, this technology is a thorough, flexible, useful, and cost effective means of collecting exploratory hydrocarbon data.
Check out QOIL’S PR’S and their simularity to GSRE’S PR’S here;
http://ih.advfn.com/p.php?pid=squote&symbol=QOIL
Here is QOIL’S IH message board
http://investorshub.advfn.com/boards/board.aspx?board_id=3735
ChiefEO, why did you not disclose who the "PRIOR" owners were in your latest GSRE PR? Excerpt from the GSRE PR; "GSRE has reviewed an Enhanced Georadiometric Survey for the Hawkeye and Midkiff field that was commissioned by a prior owner of the property covering approximately 1,100 acres in Eastland County, Texas."
It seems the previous owners are Quest Oil Corp., another PINK SHEET SCAM company pulling the same scams as GSRE has been doing. Notice the QOIL PR (below) about; "QOIL is pleased to announce that initial results from the Hydrocarbon Imaging plat (“HI”) have revealed a large, previously unknown anomaly within the Company’s leases at the Hawkeye and Midkiff Fields."
If this oil field is so GREAT, why didn't QOIL develop it????
What about all the other GSRE PR'S of late about all those other oil field acquisitions??
Are you going to dilute GSRE to the tune of 15Billion shares with all these acquisitions like QOIL has done?
If you are an HONEST CEO, you should disclose the "FULL" details of all these acquisitions but then???
Here is QOIL’S Pink Sheet info.
http://www.otcmarkets.com/stock/QOIL/news/Cease-Trade-Order?id=17240&b=y
Quest Oil Corp.
Common Stock
OTC Pink No Information
Cease Trade Order
Nov 13, 2009
OTC Disclosure & News Service
Vancouver, BC, Canada -
Cease Trade Order
Quest Oil Corporation
QOIL Security Details
Share Structure
Market Value1
$853,205
a/o Aug 23, 2011
Shares Outstanding
8,532,051,219
a/o Sep 30, 2010
Float
8,370,757,457
a/o Oct 20, 2010
Authorized Shares
14,998,000,000
a/o Sep 30, 2010
Par Value
0.001
QOIL PR,
http://www.thestreet.com/story/10855436/quest-oil-initial-results-from-the-hydrocarbon-imaging-plat-reveal-large-anomaly-at-hawkeye-and-midkiff-fields.html
Quest Oil, Corp. (Pink Sheets: QOIL) is pleased to announce that initial results from the Hydrocarbon Imaging plat (“HI”) have revealed a large, previously unknown anomaly within the Company’s leases at the Hawkeye and Midkiff Fields. Hydrocarbon Imaging Services, Inc. performed a georadiametric survey on the Hawkeye-Midkiff leases to determine structure anomalies throughout the current acreage and estimate the hydrocarbon and reserve potential of the leases, as well as an evaluation of the drilling prospects and locations on the leases.
The existing wells on the leases were drilled in the shallower Cross Cut sand. The future reservoir target will be the deeper formations, Ellenberger and others. Using surface conveyed radiation measuring equipment, Hydrocarbon Imaging Services, Inc. found that the Hawkeye-Midkiff leases potentially hold significant commercial hydrocarbons. The Company plans to use the data from the Hydrocarbon Imaging plat to prioritize targets for its workover program.
Joe Wallen, CEO of Quest Oil, commented, “By outlining the boundaries of the gamma ray anomalies, HI can emphasize pictorially the 'hot spots' for hydrocarbon accumulations. One can think of this a 'hydrocarbon topography' based upon intensities of gamma ray absorption. Structural anomalies can influence traps and faults, but this does not appear to be the case in the immediate area of the Hawkeye-Midkiff leases.”
Quest Oil is utilizing Hydrocarbon Imaging, a radiometric imaging technology, in its work program to identify and quantify oil and gas reservoirs and reserves. Initial imaging results have been captured and are currently being evaluated. Hydrocarbon Imaging technology which captures a surface survey of the “radiation footprint” of a given area of geography rivals conventional seismic and downhole logging in both arenas of cost and reserve identification. Utilizing sophisticated field equipment that is coupled with integrated software capabilities, this technology is a thorough, flexible, useful, and cost effective means of collecting exploratory hydrocarbon data.
Check out QOIL’S PR’S and their simularity to GSRE’S PR’S here;
http://ih.advfn.com/p.php?pid=squote&symbol=QOIL
Here is QOIL’S IH message board
http://investorshub.advfn.com/boards/board.aspx?board_id=3735
"The technology in question is NOT the 50 year old georadiometric technology but hydrocarbon imaging which brings the old technology into the 21st Century. "
That's THEIR spin on that technology, just like GSRE'S spin in their PR'S about their acquisitions of OLD oil fields they use to SCAM investors. Over the years GSRE has acquired several of these projects and not one dime of profit, only more and more debt!
Please direct me to some reputable oil company using this "50 year old georadiometric technology but hydrocarbon imaging which brings the old technology into the 21st Century"??????
DWB, why no comment on this post about GSRE'S PR?????
Why did GSRE not disclose who the "PRIOR" owners were? Excerpt from the GSRE PR; "GSRE has reviewed an Enhanced Georadiometric Survey for the Hawkeye and Midkiff field that was commissioned by a prior owner of the property covering approximately 1,100 acres in Eastland County, Texas.
Could this be the reason?
It seems the previous owners are Quest Oil Corp., another PINK SHEET SCAM company pulling the same scams as GSRE has been doing. Notice the QOIL PR (below) about; "QOIL is pleased to announce that initial results from the Hydrocarbon Imaging plat (“HI”) have revealed a large, previously unknown anomaly within the Company’s leases at the Hawkeye and Midkiff Fields."
Please read over their PR'S and other info I found posted below.
Here is QOIL’S Pink Sheet info.
http://www.otcmarkets.com/stock/QOIL/news/Cease-Trade-Order?id=17240&b=y
Quest Oil Corp.
Common Stock
OTC Pink No Information
Cease Trade Order
Nov 13, 2009
OTC Disclosure & News Service
Vancouver, BC, Canada -
Cease Trade Order
Quest Oil Corporation
QOIL Security Details
Share Structure
Market Value1
$853,205
a/o Aug 23, 2011
Shares Outstanding
8,532,051,219
a/o Sep 30, 2010
Float
8,370,757,457
a/o Oct 20, 2010
Authorized Shares
14,998,000,000
a/o Sep 30, 2010
Par Value
0.001
QOIL PR,
http://www.thestreet.com/story/10855436/quest-oil-initial-results-from-the-hydrocarbon-imaging-plat-reveal-large-anomaly-at-hawkeye-and-midkiff-fields.html
Quest Oil, Corp. (Pink Sheets: QOIL) is pleased to announce that initial results from the Hydrocarbon Imaging plat (“HI”) have revealed a large, previously unknown anomaly within the Company’s leases at the Hawkeye and Midkiff Fields. Hydrocarbon Imaging Services, Inc. performed a georadiametric survey on the Hawkeye-Midkiff leases to determine structure anomalies throughout the current acreage and estimate the hydrocarbon and reserve potential of the leases, as well as an evaluation of the drilling prospects and locations on the leases.
The existing wells on the leases were drilled in the shallower Cross Cut sand. The future reservoir target will be the deeper formations, Ellenberger and others. Using surface conveyed radiation measuring equipment, Hydrocarbon Imaging Services, Inc. found that the Hawkeye-Midkiff leases potentially hold significant commercial hydrocarbons. The Company plans to use the data from the Hydrocarbon Imaging plat to prioritize targets for its workover program.
Joe Wallen, CEO of Quest Oil, commented, “By outlining the boundaries of the gamma ray anomalies, HI can emphasize pictorially the 'hot spots' for hydrocarbon accumulations. One can think of this a 'hydrocarbon topography' based upon intensities of gamma ray absorption. Structural anomalies can influence traps and faults, but this does not appear to be the case in the immediate area of the Hawkeye-Midkiff leases.”
Quest Oil is utilizing Hydrocarbon Imaging, a radiometric imaging technology, in its work program to identify and quantify oil and gas reservoirs and reserves. Initial imaging results have been captured and are currently being evaluated. Hydrocarbon Imaging technology which captures a surface survey of the “radiation footprint” of a given area of geography rivals conventional seismic and downhole logging in both arenas of cost and reserve identification. Utilizing sophisticated field equipment that is coupled with integrated software capabilities, this technology is a thorough, flexible, useful, and cost effective means of collecting exploratory hydrocarbon data.
Check out QOIL’S PR’S and their simularity to GSRE’S PR’S here;
http://ih.advfn.com/p.php?pid=squote&symbol=QOIL
Here is QOIL’S IH message board
http://investorshub.advfn.com/boards/board.aspx?board_id=3735
What was impressive about it?
I saw no client list of any Significance or importance.
All they have is this, touting their 50 year old georadiometric technology. Sounds like a technology like reworking old played out oil fields that GSRE keeps buying into.
HYDROCARBON IMAGING SERVICES, Inc. (HIS) has brought 50 year old georadiometric technology into the 21st Century. HIS is at the cutting edge of identifying and quantifying oil and gas reservoirs and reserves world wide with its sophisticated field equipment and its software integration abilities.
HIS is a leader in the application of the innovative Hydrocarbon Imaging technology designed to significantly improve the industry’s location and exploitation of oil and gas reserves. HIS has secured the exclusive rights to a hydrocarbon imaging hardware and software that represents 30 years of complied development. It brings together advances in Global Positioning Satellites (GPS), software, and electronics.
HIS provides a radiometric imaging service that rivals conventional seismic and downhole logging via a surface survey of the “radiation footprint” of a given area of geography. This technology goes beyond conventional techniques in both arenas of cost and reserve identification and has been leveraged to meet the needs of the 21st century
Also, check out this great sounding company that did this "Enhanced Georadiometric Survey for the Hawkeye and Midkiff field", Hydrocarbon Imaging Services, Inc.
They have a website but that's about it!
"GSRE power hour! buys soon to come!! Watch and learn!"
The sells are just a little more than the buys. Watch and learn about WASH trades!!!
DWB, why did GSRE not disclose who the "PRIOR" owners were? Excerpt from the GSRE PR; "GSRE has reviewed an Enhanced Georadiometric Survey for the Hawkeye and Midkiff field that was commissioned by a prior owner of the property covering approximately 1,100 acres in Eastland County, Texas.
Could this be the reason?
It seems the previous owners are Quest Oil Corp., another PINK SHEET SCAM company pulling the same scams as GSRE has been doing. Notice the QOIL PR (below) about; "QOIL is pleased to announce that initial results from the Hydrocarbon Imaging plat (“HI”) have revealed a large, previously unknown anomaly within the Company’s leases at the Hawkeye and Midkiff Fields."
Please read over their PR'S and other info I found posted below.
Here is QOIL’S Pink Sheet info.
http://www.otcmarkets.com/stock/QOIL/news/Cease-Trade-Order?id=17240&b=y
Quest Oil Corp.
Common Stock
OTC Pink No Information
Cease Trade Order
Nov 13, 2009
OTC Disclosure & News Service
Vancouver, BC, Canada -
Cease Trade Order
Quest Oil Corporation
QOIL Security Details
Share Structure
Market Value1
$853,205
a/o Aug 23, 2011
Shares Outstanding
8,532,051,219
a/o Sep 30, 2010
Float
8,370,757,457
a/o Oct 20, 2010
Authorized Shares
14,998,000,000
a/o Sep 30, 2010
Par Value
0.001
QOIL PR,
http://www.thestreet.com/story/10855436/quest-oil-initial-results-from-the-hydrocarbon-imaging-plat-reveal-large-anomaly-at-hawkeye-and-midkiff-fields.html
Quest Oil, Corp. (Pink Sheets: QOIL) is pleased to announce that initial results from the Hydrocarbon Imaging plat (“HI”) have revealed a large, previously unknown anomaly within the Company’s leases at the Hawkeye and Midkiff Fields. Hydrocarbon Imaging Services, Inc. performed a georadiametric survey on the Hawkeye-Midkiff leases to determine structure anomalies throughout the current acreage and estimate the hydrocarbon and reserve potential of the leases, as well as an evaluation of the drilling prospects and locations on the leases.
The existing wells on the leases were drilled in the shallower Cross Cut sand. The future reservoir target will be the deeper formations, Ellenberger and others. Using surface conveyed radiation measuring equipment, Hydrocarbon Imaging Services, Inc. found that the Hawkeye-Midkiff leases potentially hold significant commercial hydrocarbons. The Company plans to use the data from the Hydrocarbon Imaging plat to prioritize targets for its workover program.
Joe Wallen, CEO of Quest Oil, commented, “By outlining the boundaries of the gamma ray anomalies, HI can emphasize pictorially the 'hot spots' for hydrocarbon accumulations. One can think of this a 'hydrocarbon topography' based upon intensities of gamma ray absorption. Structural anomalies can influence traps and faults, but this does not appear to be the case in the immediate area of the Hawkeye-Midkiff leases.”
Quest Oil is utilizing Hydrocarbon Imaging, a radiometric imaging technology, in its work program to identify and quantify oil and gas reservoirs and reserves. Initial imaging results have been captured and are currently being evaluated. Hydrocarbon Imaging technology which captures a surface survey of the “radiation footprint” of a given area of geography rivals conventional seismic and downhole logging in both arenas of cost and reserve identification. Utilizing sophisticated field equipment that is coupled with integrated software capabilities, this technology is a thorough, flexible, useful, and cost effective means of collecting exploratory hydrocarbon data.
Check out QOIL’S PR’S and their simularity to GSRE’S PR’S here;
http://ih.advfn.com/p.php?pid=squote&symbol=QOIL
Here is QOIL’S IH message board
http://investorshub.advfn.com/boards/board.aspx?board_id=3735
Can you prove who called those agents, and that the letter was addressed to? My guess is an insider looking to see what they had on GSRE! Where is the link to it?
DWB, who was that letter dated 1/8/2010 addressed to? Since you Xed out the recipient, I assume it was to you. If it was posted by someone else, where's the link? What info did you give them, or were just fishing to see what they knew?
I'm waiting for the day the SEC throws the GSRE insiders into their little 8'X8' square rooms they have reserved just for stock scammers!
Well of corse those who bought at .0003 yesterday are NOT going to let this slip to .0002 and .0001.
As you say; "Why the h__l would they do that ?"
The insiders are getting ready for their next big PUMP and DUMP!
How else are they going to make money? They never have had a legit asset!
They have done it over and over for several years now!
You really don't think these GSRE management people are working for nothing do you?
It's just a big PUMP and DUMP SCAM! This is their CASH COW!
As for; "So you believe GSRE is "done - stick a fork in it, never to see .0004 or .0005 again ?"
GSRE will only be "DONE" when the SEC sticks their FORK in them!