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Hey Highline,
Agree with what you are saying, but there is always an exception. A while ago, on this actual board, Stablio posted a complete lie about the company was a fraud and had completely hit a dry hole, etc. The price spiked/plummeted well over 50% immediately. It does happen. This happened a week before the Mesa drill was completed. He just wanted to bash to scare shareholders into dumping. It worked and I assume he scooped up a load of cheapies.
The other stuff you posted should be taken to heart by all. Thanks for the context.
PR 12/12/07
Coastal Petroleum Company Enters into Farmout Agreement with Western Standard on North Dakota Leases
APALACHICOLA, Fla., Dec 12, 2007 /PRNewswire-FirstCall via COMTEX/ -- Phillip Ware, President and Chief Executive Officer of Coastal Caribbean Oils & Minerals, Ltd. (OTC Bulletin Board: COCBF) ("Coastal Caribbean" or the "Company"), announced today that the Company's wholly owned subsidiary, Coastal Petroleum Company ("Coastal"), has entered into a Farmout Agreement with Western Standard Energy Corp. (Western Standard) on certain of Coastal's Slope County, North Dakota Leases ("Leases"). This Second Farmout Agreement with Western Standard provides the opportunity for both companies to begin exploration in North Dakota while exploration in Montana continues.
Under the new Farmout Agreement, Coastal will assign leases over four of Coastal's high-graded Lodgepole Reef prospects to Western Standard in return for $80,000. Coastal will also retain a back-in working interest of 20% in the leases after payout. The leases cover all rights below the Tyler formation, including the Lodgepole formation, with an 80% net revenue interest. These and other leases in the area were acquired in 2005 by Coastal from Oil For America for $50,000 and Coastal has invested some additional funds to geochemically test and high-grade these and other prospects on the leases. Oil For America has agreed to waive the drilling obligation on these four prospects. After the assignment, Coastal will still retain additional Lodgepole reef prospects on its North Dakota leases.
This Agreement is separate from and in addition to the two farmout agreements Coastal has entered into relating to its Montana leases. The first of those agreements was also with Western Standard, but was on leases over a 34,000 acre shallow gas structure in Valley County, Montana. The first well drilled under that agreement found the structure to be high as expected and drilled through two potentially productive gas zones, both of which had shows of gas.
Operations to complete and test the well were scheduled to begin at the end of November, but were delayed by equipment repairs. The well is located on Federal land and the Bureau of Land Management will not allow the completion and testing operations or any further drilling to begin until the spring, so operations have been suspended until that time. Ware said, "The companies are taking advantage of this time to complete permitting for the four step-out wells needed to quantify reserves." The step out wells could also test the four deeper objective formations which may contain gas as well. In the Memorandum of Understanding which gave rise to the new Farmout Agreement, Western Standard also agreed that the more than $29,000 originally forwarded to be used for completion would be used by Coastal to cover the costs associated with the delay in operations, including annual rentals. This amount combined with the $80,000 paid for the four reef prospects will help cover the Company's operations during the first half of 2008.
The second recent agreement Coastal entered into this fall was with F- Cross Resources ("F-Cross") covering the northwestern part of Coastal's Valley County, Montana Leases. The first Lodgepole test well was begun under that agreement in early November and drilling has finished, but the well is awaiting completion and testing of several zones which have potential for both oil and gas. Unlike the shallow gas well, this well is located on State land, not Federal land, and provided that there is no State objection, the Company expects F-Cross will resume operations to complete and test the well once the weather permits it.
Now in its 55th year, Coastal Caribbean Oils & Minerals, Ltd., is engaged in the exploration for and development of oil and gas reserves through its wholly owned subsidiary, Coastal Petroleum. Coastal Petroleum's principal assets are its cash and its non-producing oil and gas leases within the Williston Basin, covering approximately 9,000 net acres in North Dakota and approximately 137,000 net acres in Montana.
Certain statements included in this press release, which are not historical in nature, are intended to be forward-looking statements. Coastal Caribbean cautions readers that forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
SOURCE Coastal Caribbean Oils & Minerals, Ltd.
URL:
www.coastalcarib.com
www.prnewswire.com
Copyright (C) 2007 PR Newswire. All rights reserved
KEYWORD: Florida
INDUSTRY KEYWORD: OIL
OTC
SUBJECT CODE: CON
RLE
I did! Did you?
Of course EDEX is NOT on the lease. They are a minor partner and not in control. Come on, this is not news to you or anyone long who has done the slightest bit of homework. I've told you this several times, yet you continue to spread slander and doubt about this issue over and over.
If you have real questions, do real DD. You continue to dig around and ask all the wrong questions of all the wrong people. You go to wrong sources and then make wrong conclusions.
Here is a starting line hint, not just for you but for all. If you have questions about the MESA, start by contacting Geo Surveys. They are the owner/operator of the site. This will serve you well.
This is like the third or forth time I've said this to you. I wish you would actually do it and quit all the rumor mongering you cause. OR are you actually still continuing to buy on the dips you purposely create? I think this is the real truth.
(For all: If one wants to see a classic poop and scoop, research ALL of Dirts posts. Should EDEX strike and the sp reflect a positive future, continue to watch! I will and will also report him to the SEC, when the time comes.)
No way I've thrown in the towel with them. Most of my efforts are done behind the scenes either deleting many of their posts, logging the lies, negativity and other insulting posts as well as pm's w/ them. IMO its a matter of time for dirt.
At the moment there is not much for me to say and my time is very busy at the moment. But know this, I'm here for quite a while and will give EDEX another year or so to make something of itself.
In addition, they risked insider info posting issues.
Members of the BOD were very concerned and asked them to stop.
Yo, smug one, my info came from the operators of the well, not from Tom.
Your wrong thesis and points show your continued emotional instability and undoing.
And no, you haven't moved on. You still come here to fling the dirt.
But, please do move on.
Dirt, your post has been explained over and over. You have gone well past ignorant and have gone on to expose your emotional revenge.
But, for all and to help dirt, and hopefully for the last time: The swabbing well was released and a pump was ordered. The PR was correct when released.
However, the operators of the well later decided that a (pay attention here) DIFFERENT PUMP SHOULD BE ORDERED.
The new pump would be significantly more expensive and dependant on whether the piping could/should be off the shelf or custom made.
The invoices were not sent out for over one month after this and that is when a partner had trouble coming up with the payment.
For better or worse, this is where we still stand.
Dirt, GIVE US A BREAK from your relentless personal problems. You have been told the above over and over. Yet you continue to whine and complain. I personally will fund you the $20 you lost if you will go away for good.
So, will you take me up on my offer?
In a small, rural town six miles south of Jerusalem, the seemingly insignificant birth of a boy rocked the Jewish countryside, enraged a king and inspired a group of astrologers to travel a great distance. More than 2,000 years later, Christians continues to proclaim Jesus’ birth as “good news of great joy for all people.”
Merry Christmas to all, and may Tom strike a homerun this coming year.
Same 4 me, my limit sell w/ Etrade still remains.
Normally, it would disappear within a few hours.
What college grad has a LOWER g.p.a. than a vegtable???
("vegetable" for those who can actually spell, but trying not to be offensive to the original poster)
The answer: That would be no other than Sen. John Kerry! (D) Mass.
http://wzus.ask.com/r?t=p&d=us&s=a&c=a&l=dir&o=0&ld=2710&sv=0a30051b&ip=473a451a&id=2658AD8E3DC8297AFB17DBB0AE934FD3&q=who+has+the+higher+yale+gpa%2C+george+w.+bush+or+john+kerry%3F&p=1&qs=0&ac=4&g=12a7rLIdrsKVmF&en=te&io=0&ep=&eo=&b=alg&bc=&br=&tp=d&ec=10&pt=Yale%20grades%20portray%20Kerry%20as%20a%20lackluster%20student%20-%20The%20Boston%20Globe&ex=&url=&u=http%3A%2F%2Fwww.boston.com%2Fnews%2Fnation%2Fwashington%2Farticles%2F2005%2F06%2F07%2Fyale_grades_portray_kerry_as_a_lackluster_student%2F
Good for you.
The Ihub mods beat you to it.
He got the boot.
To All:
Bad news is very welcome here and we all want it. We all want the truth of past, present and plans for the future. The facts are the facts. We want facts. Good or bad. With the facts, we can all make informed decisions and invest with better knowledge.
But to come here and just post wild garbage, or whine, NO, that is not welcome. Facts are.
Lets see, the last 2 transaction were by an insider (officer) &&&& here they are:
Trans Date Filer Ownership Type Price Shares
Dec 4, 2007 FITZGERALD MICHAEL J, Officer, direct SELL 6.1900 3,868
Nov 23, 2007 FITZGERALD MICHAEL J, Officer, direct SELL 6.7900 2,085
Pump and dump Dirt, pump and dump
Over the last 5 months there are more inside buys, but its funny, if good news was so sure to come shortly, selling in Nov and in Dec makes no sense.
Good discussion regarding the share structure. Some thought not addressed:
1. Tom has given away millions of personal shares from his 40% to help EDEX drill or get leases. This has not changed the share structure issue (which IMO needs to be a permanent change), but it has negated a part of his 40% and put his "interests" in the game MORE than he was before. Fair is fair and this is at least a turn in the right direction. He should receive some credit for this. Credit, yes. Issue still needing to be addressed? yes.
2. Which is more important in the present reality? Share structure or striking/finishing a well? IMO it is the well.
As a result, IMO, the share structure issue is one I can put on the back burner. I'm not saying "don't discuss it," just put it in the proper order of importance. Pressure needs to be placed on EDEX/Geo to finish the Mesa and ND. IMO, this is where our energies should be placed at the moment. After/If a strike is made is a better time/place for the current argument.
He cares because of ONE of the following:
1. He is lying and flipping/investing (poop & scoop)
2. He is bitter because he lost $20.00 on this investment and wants revenge, so instead of taking it out on Tom, Tony or someone who matters, (which he can't) he is attempting to vent his anger at the only place he will (here on the board) rather than look at himself in the mirror and face his own responsibility.
3. He is mentally unbalanced and in need of professional help.
It is one of these for sure. The question is which?
IMO, it looks like #3, but it could be any or all.
Ignore what he mostly says but look at what he is actually doing, or not doing.
Like I said, go ask the sources. Yet, you refuse.
You guys come here and sound all big, tough and like you know something here asking I-hub posters who know little.
You are encouraged to go ask the source, and you don't. Instead of calling Geo about the holdup for Mesa, you come here and rail all the more, barking at the wind and I-hub posters who aren't on any inside loop. You are encouraged NOT to believe anything we post, but to go do DD and get source material. You refuse. Instead...
Sounds to me like you are loading the boat!!!!!
You sound to me like a professional poop and scoop. Which buy the way is market manipulation, a felony to the SEC. Sounds like I should report you and let the SEC investigate whether you bought/sold or what.
Go ahead and bitterly deny it, but you have ALL the earmarks.
Dirt, your response shows complete ignorance. Try to do some digging. You are a dirt-dog, so it should be no problem.
There is a difference between ignorance and stupdity.
I'm trying to end your ignorance by pointing your to the operator of the well, and your response is just plain .....
Dirt, Geosurverys is the operator of that well. Tom is not. I encourage you to address Geosurverys with "what is holding up the well from completion."
DD is a good thing.
Dirty dog, your purpose of existence on this board is what?
You don't add any DD, any DD you manipulate is totally wrong, and you only show up to twist, whine and flat out misrepresent.
Proof positive, some are just plain true to their name and nature.
I should just delete your posts as garbage and fantasy but I want all to see them.
Thanks for the post. Info from the Company in very needed.
The info in your post matches all that I know, including that the company is not selling shares at this level.
I will continue my best to "trust but verify."
“I bought cause I believed TOM” 21864 (Yup, you lost money and now are trying to get even, no matter what “facts” you have to make up in the process.)
Readers, for a picture of Dirtydogs so called DD, see http://investorshub.advfn.com/boards/read_msg.asp?message_id=24761110
At Tom asked: “Why do you constantly twist towards the negative and even invent things that just aren't based in reality?”
Oh yea, you lost $20.00. Now your just bitter and want to salve your pride and you want a piece of someone else (not you!, you couldn’t take responsibility for your own investment choices) and you don’t care who you destroy in the process.
Investors, please note this poster.
What a strawman argument. Buy the company at .005. That's really funny.
If you are going to post, post reality.
One of the board members is in at a million dollars at .10 a share. He has not sold. In his own words: "the company is still worth times more than that based on what I know."
No insider has sold. Whine all you wish, but they have not abandoned ship and have continued to invest in EDEX!
Dirt, you have no clue as to what has happened behind the scenes in Mesa. Should you care to call operators of the well and figure it out, you might sing a different tune. Should you wish to contact and confirm with the engineers who OK'ed the permit and upcoming completion you would not post your foolishness as you do. Your continued kindergarten response of "flare" in this case shows your complete lack on knowledge to the Mesa drill.
One of the following 3 apply:
1. Do some actual homework.
2. Quit your pooping and scooping (yea, deny all you want.)
3. Visit a shrink and work out your bitterness problems there, where it can do some good.
Dirt, this is from the mod’s handbook. Please read, re-read and learn. You have more that worn out your relentless bashing. If you wish to continue on this board, please add to the discussion. Your a broken record.
“Question: What if someone is bashing the same topic over and over again? We’re tired of it!
Answer: This is a part of the fine art being an Admin. The best way to handle it is by letting Matt know, it’s his job to deal with the tricky cases, that aren’t true spam, but are just flat repetitive. The same goes for pumping. If someone is just senselessly pumping, let Matt know. Neither go over well on this site.”
I have warned you privately, now I am doing the same (building a case) publically.
Mod.
Jag, not a bad post. I do have a couple of comments though.
1. When someone else opens the door and tells others what to do, I am free to do the same, and actually challenge that person to abide by their own advice. Additionally, you and I both know that there are those who poop and scoop. They too, should be addressed. I have no problem with exposing those types and telling them to hit the road (as well as alerting the SEC for their illegal market manipulation).
2. I too wish I sold at .15 The market is daily full of woulda, coulda, shoulda. I do not live in that world except to learn from it. One cannot exist in the investment market dwelling on these without becoming bitter and angry (we've seen too many off these on this board). Hindsite is always 20/20 but we can't use hindsite as current prooftext as what to do in every situation. For instance: I coulda sold at .15 and bought at .01 and have 15X the shares! The real fact is that that statement is made with perfect hindsite knowledge projecting present/future action. It never happens! It's a woulda, coulda, shoulda mindset. History and management history do play a huge part at what one could decide to do, but I don't play those games. They are not profitable and only sap energy.
3. I haven't flipped this stock. I was in this for the long haul as I believe it will only take one or two wells for EDEX and PIP to actually become something . I understand and see how it can become a respectable company. All it will take is for those first 2 wells/fields for the doors to open and they take off. I also am willing to wait with my investment.
4. I too agree that the case with most pinkies is nearly all hearsay which is why I've tried to take great pains to, as Badge put it: "trust but verify." I've also been very clear that EDEX is an extremely risky investment. It may or may not payoff. Again, because of this, I try to verify.
5. I've made it very clear that there is much info I do not know. I am not an insider. I've never proclaimed myself a know-it-all. That said: When a poster proclaims there was never a drill in mesa or a permit pulled, it is not a know it all who responds: Yes there was a drill. I was there!, I went to the county office and saw the permit! That is not a know it all. Oh sure, he/she can be labeled such, but that only comes from, usually, a bitter, prideful response of someone trying to lick their wounds from being exposed as wrong. Pride on this and most boards is the (IMO) worst problem that exists, far more than hearsay.
On less verifiable issues, such as a pump that is late, a person can complain or proclaim its a pump and dump, but I spent the time on the phones with several of the operators and have verified from multiple sources. If the delay is due to one partner taking too long to pay their bills, I verify this from multiple sources.
It is not a know it all who says what he/she has verified by multiple sources. It is only those with no DD who are proven wrong time and time again who are those who usually begin the insults of labeling someone a know-it-all. I take your post as someone not in this category.
So, are you going to take your own advice and sell and move on? or ignore your own advice?
You did not make this clear.
I will let Geo speak for himself:
“There are other things that you need to know as far as our drilling statistics are concerned.
During the mid-1980's, I hit 13 out of 14 wells in Kansas using radiometrics, microradiometrics, micromagnetics, magnetics, and soil-air helium analysis. All of these wells paid out, some rapidly, but the party ended in early 1986 with the collapse of oil prices. Oil prices dropped from $25 to $7 almost overnight. At $7, payout was too long to work for most wells. As a result, the industry collapsed. Most onshore wells drilled in the continental United States were not commercial at these prices. During this time, I moved out of Kansas to look for greener pastures. I eventually moved to Texas and after two years found Needle Creek Oil and Gas Fields, McCulloch County, Texas.
Also, during the mid-1980's Calvin, Geo's geologist, drilled 43 out of 46 wells correctly on the Chadbourne Ranch. Calvin managed to extend the Chadbourne Ranch Oil Field into areas to the west that Exxon believed would be non-productive. This area ended up yielding massive oil and gas production that Exxon completely missed for more than thirty years. The oil operator that Calvin was working for at this time eventually sold out and retired. Calvin never was paid the override he was promised by the operator for this work. They remain at odds to the present day. It is a very sore spot for Calvin. This is why he is working for Geo today. Our gain, their loss. Calvin is one of the best geologist I have ever known.
None of the above statistics have been included in the often quoted 70% success ratio. The 70% ratio only includes the wells that have been drilled in the last 15 years, since the discovery of Needle Creek.” Post #20884
Somehow, you actually believe we should listen to you instead based on your infinite wisdom, knowledge of all the facts (which neither you nor I have available to us) and experience. I’m not that stupid!
I know Geo. I've spent time with him. I've talked on the phone with him numerous times. You have........? Yea, I didn't think so. He is a man with the highest sort of integrity and honor. His partner is the same.
Dirt, take your own advice --
SELL and MOVE ON.
Its that simple,
or,
are you still trying to shake shares?
It's one or the other pal.
The third option involves a couch and paid professional advice. So I won't publically suggest this for you.
As far as cheerleading please read, read again, and re-read carefully. Here is my opinion, mine alone. These are my words, all 4 letter and smaller: (you still have not figured this out and it's become an embarrassment.)
"EDEX is a wild, and big risk!" It may pay off and it may not. I've no problem with this. I've risked an appropriate amount and not lost a penny so far. No insider has sold a share. I could be wrong here, but I think, it's my opinion, that they know more than you or I both combined! But, according to you, I should listen to you when you don't even do what you have told others to do: Save yourself, sell and move on.
I welcome facts, real facts. I welcome the big and actual picture and the facts properly understood in that light. Not your always incorrect and misleading partial, twisted facts. I for one, like the whole road map and not just one panel by a negative viewpoint. This is why I make calls, visit sites, etc. You don't! I do. I trust and verify. You whine and complain, twist and shout.
In addition, you are just plain wrong again as I get most of my info, well, not from Tom, but those actually closer to the present info. For instance, Tom is not the lead on this drill, so why ask him? I have spoken to the operator several times. You haven't. That's a big difference.
So, sell or move on. Your info is faulty, your posting is worse (IMO). I'm tired of your whining and I believe the rest of us are tired of both also. IMO you should hit the road and buy a 3 letter stock.
Again, take your own advice, save yourself. This has been your advice to others you've "saved": SELL & MOVE ON.
Take your own advice!
you wrote: "I am not looking for a pump of EDEX but would love to see a pumpjack in ND and a PR that expresses the truth about Eldorado"
I agree. Let all the facts take us where ever they may lead, good or bad. Hopefully good though.
If EDEX strikes oil and becomes something, great! Cheers all around. If on the other hand, they never do and become a failure, that is the risk of wildcatting and investing.
I trust that all around here are ADULT enough to treat the outcome accordingly, w/o whining, but I don't expect it.
Your posts were:
correct: Not. (Please reread my post where point after point I correct your misinformation giving the whole story)
honest: I assume so.
factual: ? like 1/10 of a road map is factual. The problem is that it won't get us where we are going.
So, why do you keep hanging around and spreading partial information? Oh, yea, that's right, deep inside you actually believe that EDEX, (even with your partial information) might actually strike oil and become something. I think so to, but based on a lot more information.
Yes, you are correct as to that. It does say that.
Rather than argue with you, which is all I would be doing, why don't you call the operator of the well and get the complete story at to the ordering of the pump, the piping, etc.
Again, as per usual, getting the rest of the information, vs, jumping to incomplete conclusions will help you arrive at the correct conclusions. Your refusal to actually do DD, but to cling onto old information to prove whatever points you wish do harm only to yourself as well as creating misinformation and confusion on the board. We would hopefully both agree that this is NOT good.
Here is one example: A pump is ordered, but it is not the one that will really do the job as the operators decide at a later time. Sooooo, a new pump and special piping needs to be ordered instead. This new pump and piping will take time.
Questions:
1. Was the person who originally said the pump was ordered lying or misinformed or manipulating? No.
2. Might the operators decided later on a different pump as a better solution? Yes.
3. Are you bright enought to understand this? Don't know.
Dirt, since you are trying to enlighten investors, please don't mind me if I do the same. Please note a prior discussion concerning a lack of attention to detail and the resulting mis-conclusions:
Your post:
http://investorshub.advfn.com/boards/read_msg.asp?message_id=23693000
my response:
http://investorshub.advfn.com/boards/read_msg.asp?message_id=23706526
"Now that I have a moment to respond,
Dirt, your post is sooooooo misleading.
Here are the facts: (all by memory, so you will have to give me some leeway here.)
1. United promised Tom the drill at the end of May, beginning of June. That is if I remember the months correctly. United is a reputable company and there was no reason to not expect performance. This is several weeks BEFORE the drill is scheduled to start.
2. Tom puts out the pr. An appropriate thing to do.
3. No permit secured yet, at it only takes 3 days max to procure. Permit will be pulled just before the drill. (So no, if you called, would a drill permit have been pulled yet. Your information that no permit was pulled was "correct" but lacking in understanding and as a result, your assumptions toward the negative is fed. Had you tried to find WHY? ....... rather than jumping to your negative conclusions......)
4. Weeks later, Driller unexpectedly is required to drill an additional 3 drills with the rig promised to EDEX, by the present company which had hired them. So if you were to call, you would have correctly been told that the drill promised was on site! Tony, Calvin, Tom, United, all would have said this! But, the site would not have been MESA. No surprise to them or to many others, but to you, it was yet another opportunity for you to jump to negative conclusions.
5. They tell Tom they have another drill machine available but it has to go to the shop for major overhaul after it is finished with its current drills and is free. If you would have inquired concerning these facts, you should have been told. I knew this, many others knew this, I'm sorry that it is such a shock to your system. The info was there for the taking.
6. Finally, the back up drill is delivered as promised . . .after it is done with current drilling and weeks of major overhaul.
7. I visit the drill site to further confirm from all parties, and to spend time with Clayton, Tony, and Calvin.
Read the above and it will explain all you have misled us about, and have bashed EDEX about.
1. The drill was promised, but usurped after the promise and kept by the same company to finish other drills, so, United provided another rig to EDEX. This explains the original rig promised still being on site and in use by another party. A total non issue except or someone looking to make a big deal out of something its not.
Should you have inquired about what United was providing EDEX to INSTEAD, you would have found out THE REST OF THE STORY. You would have found out who, what, when, where, why, how and what United resultantly promised.
2. Should you have studied and figured out how long and when EDEX was going to pull the permit, you would have understood, and not made your accusations about EDEX.
On and on I could go, but this is enough to prove the point of lacking DD and the conclusions you reached.
There is a poem which is apt to many of the bashers and their twisted posting:
Pussy cat, pussy cat, where have you been?
I’ve been to London to visit the Queen.
Pussy cat, pussy cat, what did you there?
I saw a mouse under the Queen’s chair.
The point is that one will see according to their nature. If you look for everything negative, knowing what you want the answers to be, you will find just that. And as a result, you will make your own reality. Loss of $$$, and bitterness will also cause blindness. I think both of these may be true?
Others look around and see the rest of the story, and see the royalty. Sorry you missed the Queen.
BTW: this post is not pumping. It is NOT a rah, rah, rather it is just the facts. This is what a neutral, fact oriented, post should be. It does not proclaim that EDEX is going to the sky and all will be rich! It calls for good, solid, thorough DD and correct interpretation of the data received. It further shows the importance of good follow up questions."
Wrong facts, wrong conclusions. Thanks for the "enlighten" you are doing LOL. If you are trying to enlighten us to misinformation, please continue.
To all posters: Please take note.
Dirt, I didn't know that everyone was paid in Sept. Even if they were, it would have been for the drill/frac.
After that there are other costs which are involved. Those are the current issue. I know that one of the operators is also heavily involved in another drill that is taking most of his time. The last I checked, the billing had not been sent for the cost overruns for the pump and piping because of this. It is quite normal to have several projects on the table at the same time and this is also the case here.
Your logic might make since, but your back story and resulting logic, based on mistaken info are causing a skew in your direction of thought.
Go back to source info, get correct direction and you should arrive at the correct conclusions.
Curious concerning your "source." I've heard nothing of that sort from the operators.
Sorry Rag.
Keep sticking with what you know.
Let sour be sour and do your best to ignore those who chose to get their facts from a message board.
I never left. There just was nothing to say. Jag did nail it though when he said that we could close the board until the next PR. I agreed.
Take care and have an excellent Thanksgiving.
PS: To all, wishing you an excellent Thanksgiving. We, as Americans truly have much to be thankful for.
Peace.
Lowman was correct, and your crying over spilt milk, as always.
I'm also sure that you will be the first to jump on the EDEX bandwagon should good results be forth coming.
Here is hoping for both.
Well, you haven't lost this mod.
Things are progressing at the site and I am not concerned about tax selling. I for one welcome it.
I was able to pick up several thousand do to some seller with very short term vision. But this is my opinion.
The principles are accessible to any who will contact them.
PR 11/20/07
First Lodgepole Test Well Spudded on Coastal Petroleum Company's Valley County, Montana Leases
APALACHICOLA, Fla., Nov 05, 2007 /PRNewswire-FirstCall via COMTEX/ -- Phillip Ware, President and Chief Executive Officer of Coastal Caribbean Oils & Minerals, Ltd. (OTC Bulletin Board: COCBF) ("Coastal Caribbean" or the "Company"), announced today that the first Lodgepole exploratory oil well was spudded Saturday on the Valley County, Montana Leases ("Leases") held by the Company's wholly owned subsidiary, Coastal Petroleum Company ("Coastal").
This is the first well to be drilled under the September 25, 2007, agreement with F-Cross Resources, LLC ("F-Cross") under which F-Cross paid Coastal $50,000 for the option to drill a Lodgepole test well within six months with an option to acquire an interest in the surrounding acreage. Ware said, "To begin exploring the Leases with F-Cross now really adds momentum for the Company and we believe that this well has the potential to be just the first Lodgepole prospect we can exploit for the benefit of both companies." The well is considered a "tight hole" and drilling results will remain confidential until the well is completed and tested.
F-Cross will operate the well, will pay the cost of drilling the well and will hold a 100% working interest in the well until payout and an 80% working interest after payout with Coastal receiving the other 20% working interest. Upon completion of the test well, F-Cross will have the option to acquire a 50% working interest in the approximately 64,000 acres of the westernmost part of Coastal's Leases, for $25 per acre. The option could be extended an additional six months if F-Cross drills a second Lodgepole test well on the Leases.
Now in its 55th year, Coastal Caribbean Oils & Minerals, Ltd., is engaged in the exploration for and development of oil and gas reserves through its wholly owned subsidiary, Coastal Petroleum. Coastal Petroleum's principal assets are its cash and its non-producing oil and gas leases within the Williston Basin, covering approximately 9,000 net acres in North Dakota and approximately 137,000 net acres in Montana.
Certain statements included in this press release, which are not historical in nature, are intended to be forward-looking statements. Coastal Caribbean cautions readers that forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
SOURCE Coastal Caribbean Oils & Minerals, Ltd.
URL: http://www.coastalcarib.com
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KEYWORD: Florida
INDUSTRY KEYWORD: OIL
PR's since 5/10/07
November 8, 2007 Coastal Caribbean today filed its Third Quarter 10Q for 2007.
November 5, 2007 First Lodgepole Test Well Spudded on Coastal Petroleum Company's Valley County, Montana Leases
October 30, 2007 Coastal Petroleum Company Confirms Large Shallow Gas Structure, Completion in Two Gas Zones Will Commence As Soon As Possible
October 23, 2007 Coastal Petroleum Company Begins Drilling The First Well To Test Its Valley County Gas Prospect
September 25, 2007 Coastal Petroleum Company Enters Drilling Deal to Test Lodgepole Prospects on its Montana Leases
August 30, 2007 Coastal Petroleum Company Inks Drilling Deal to Test Its Montana Leases
August 10, 2007 Coastal Caribbean today filed its Second Quarter 10Q for 2007.
May 10, 2007 Coastal Caribbean today filed its First Quarter 10Q for 2007
Available at: http://www.coastalcarib.com/
PR 10/30/07
Coastal Caribbean Oils & Minerals, Ltd.
FOR IMMEDIATE RELEASE
Coastal PETROLEUM COMPANY CONFIRMS
large shallow gas structure, completion in two
gas zones will commence AS SOON AS POSSIBLE
APALACHICOLA, FL, October 30, 2007. Phillip Ware, President and Chief Executive Officer of Coastal Caribbean Oils & Minerals, Ltd. (OTC Bulletin Board: COCBF.OB) (“Coastal Caribbean” or the “Company”), announced today that the Company’s wholly owned subsidiary, Coastal Petroleum Company (“Coastal”), has initial drilling results from its exploratory gas well on its Valley County, Montana Leases (“Leases”).
Spudded one week ago, the well has confirmed that the 34,000 acre structure it was drilled to test is high as expected at the well’s location. The well is high in the direction of all of the nearest wells: 36 feet high to the nearest well to the southwest (3.5 miles); 78 feet high to the nearest well to the west northwest (5 miles); 81 feet high to the nearest well to the southeast (6 miles); 94 feet high to the nearest well to the east northeast (5 miles); 159 feet high to the nearest well to the south (5 miles); and 245 feet high to the nearest well to the north east (6 miles). The height of the structure compared to surrounding areas allows it to trap migrating gas.
The well drilled through the Judith River sand which was a secondary target and then into the Eagle sand which was a primary target of the well. The well was drilled to a total depth of 1,126 feet. Ware said, “Both horizons were high and in both horizons there were gas shows, meaning there is the potential for gas production.” Casing has been run into the hole. Completion operations will be necessary to test the extent of the gas production from these zones and will commence as soon as possible. Permitting is continuing for the four step-out wells needed to quantify reserves and which could test the other four objective formations below which may also contain gas.
Western Standard Energy Corp. (“Western Standard”) holds a 100% working interest in the well until payout when it will reduce its interest to 80% and Coastal will own 20%. Upon completion of the test well, Western Standard will have the option to acquire a 50% interest in approximately 42,000 net acres of Coastal’s Leases near the test well for $1,000,000, payable in five equal installments the timing of which is tied to drilling the four step-out wells to evaluate the field.
Now in its 55th year, Coastal Caribbean Oils & Minerals, Ltd., is engaged in the exploration for and development of oil and gas reserves through its wholly owned subsidiary, Coastal Petroleum. Coastal Petroleum’s principal assets are its cash and its non-producing oil and gas leases within the Williston Basin, covering approximately 9,000 net acres in North Dakota and approximately 137,000 net acres in Montana.
Certain statements included in this press release, which are not historical in nature, are intended to be forward-looking statements. Coastal Caribbean cautions readers that forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
Contact: Robert J. Angerer, Jr. at (850) 576-5982
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