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And just where is BCME going to get this money to buy anything. OH, I know, it's going to be a loan that can be paid off/converted with a ton of discounted worthless BCME shares. How many ways can you spell "dilution".
BCME is ONE strange company! It reports XXXX number of barrels of oil from their operations that never shows up in a filing as revenue. SCAM????
"So you believe that all the .0003 accumulation yesterday was insiders? Do you really believe that."
So why didn't the SP rise if all that buying was by outsiders?
"Please provide something current."
DWB, How about this 1/31/11/PR?
With statements like this in it; "An independent reserve report dated January 2010 estimates total reserves under Petrolia Group management to be 3.6 billion cubic feet of natural gas and 7.4 million barrels of oil."
"The California Creek project, located in North East Oklahoma, has 10 producing wells and multiple workover opportunities on 3 leases that cover approximately 230 gross acres with 27 current infield wells. Current production averages about 300 barrels of oil per month representing approximately 1,600,000 bbl as per reserves report."
Green Star Energies Partners With the Petrolia Group to Develop Oklahoma Oil Field
Date : 01/31/2011 @ 9:44AM
Source : PR Newswire
Stock : Green Star Energies (GSRE)
Quote : 0.0003 0.0 (0.00%) @ 5:00PM
Green Star Energies Partners With the Petrolia Group to Develop Oklahoma Oil Field
print
Green Star Energies (PL) (USOTC:GSRE)
Historical Stock Chart
1 Year : August 2010 to August 2011
Green Star Energies, Inc. (Pink Sheets: GSRE) is pleased to announce they have partnered with Petrolia Group, LLC of Houston, Texas to develop the California Creek Oil Field in Oklahoma immediately. As per the terms of the agreement, Petrolia Group, LLC will supply all development costs and operational expertise to the project and in return Green Star Energies will share the improved production revenue.
Ian Acrey, Managing Member of Petrolia Group, LLC said, "We have been very interested in the California Creek Field of Rogers and Nowata Counties, OK due to the significant upside available through accelerating the extraction of proven oil reserves. Petrolia is currently evaluating the fields for a thorough workover program that will include reworks and the bringing online of previously abandoned wells."
Petrolia Group, LLC is a privately held, licensed operator in Texas and currently operates approximately 10,300 net mineral acres, 87 wells, 31 miles of pipeline, and an in-active 23.5 BCF gas storage facility in Brown and Comanche County Texas. An independent reserve report dated January 2010 estimates total reserves under Petrolia Group management to be 3.6 billion cubic feet of natural gas and 7.4 million barrels of oil.
"This is one of the first steps to bring more production under Green Star's umbrella through acquisition, development and joint ventures," stated Green Star Energies CEO Steve Rackley.
The California Creek project, located in North East Oklahoma, has 10 producing wells and multiple workover opportunities on 3 leases that cover approximately 230 gross acres with 27 current infield wells. Current production averages about 300 barrels of oil per month representing approximately 1,600,000 bbl as per reserves report. Pictures have been posted onto the website along with more information on current production and historical reserves.
OR, how about this 2/2/2011 acquisition?
Green Star Energies Acquires Wyoming Oil Producer DCD Operating, Inc.
Date : 02/02/2011 @ 9:30AM
Source : PR Newswire
Stock : Green Star Energies (GSRE)
Quote : 0.0003 0.0 (0.00%) @ 5:00PM
Green Star Energies Acquires Wyoming Oil Producer DCD Operating, Inc.
print
Green Star Energies (PL) (USOTC:GSRE)
Historical Stock Chart
1 Year : August 2010 to August 2011
Green Star Energies, Inc. (Pink Sheets: GSRE) is pleased to announce the acquisition of DCD Operating, Inc. (DCDO) based in Gillette, Wyoming in an all-stock transaction. DCDO is the owner/operator of 5 fields in Campbell County, Wyoming, which currently produces 25 BOPD from 10 wells out of 28 representing 1,980,000 barrels of oil on leases covering 6,000 acres within the Powder River Basin.
OK, how about this 2/24/2011 acquisition?
Green Star Energies to Acquire Majority Interest in Fortunate Energy, LLC
Date : 02/24/2011 @ 9:30AM
Source : PR Newswire
Stock : Green Star Energies (GSRE)
Quote : 0.0003 0.0 (0.00%) @ 5:00PM
Green Star Energies to Acquire Majority Interest in Fortunate Energy, LLC
print
Green Star Energies (PL) (USOTC:GSRE)
Historical Stock Chart
6 Months : February 2011 to August 2011
Green Star Energies, Inc. (Pink Sheets: GSRE) is pleased to announce they entered into a preliminary agreement with Fortunate Energy, LLC to acquire 80% of the company. Fortunate Energy was formed in 2010 to acquire and exploit the E. J. Robicheaux lease in St. Mary's Parish, Louisiana. The lease is approximately 20 acres with an 80 acre option and consists of five (5) oil wells and one (1) salt water disposal well. The wells are shallow, about 1,200 feet deep, and were all drilled in the early 1980's. Initial production varied between 9.7 barrels of oil per day and 36 barrels of oil per day. In 2007 the wells were shut-in following a tragedy in the operators family.
"Yes, that complaint will also be tossed in the Round File."
DWB, could you give me documented proof that the SEC will toss my complaints in the "round file"?
I thought not!
Well it looks and sounds like GSRE is getting ready for another group of promoters to do another promotion/PUMP, whether authorized by GSRE or not.
"Unproven statements and accusations brought against Green Star Energies 5 years ago have no application to where the company is today or will be tomorrow."
That's your opinion. My statements are NOT UNPROVEN. They are GSRE'S proven TRACK record, and does apply to where the company is today or will be tomorrow. The many years of "rinse and repeat"
proves it! Until they actually make any profit, their past will predict their future. Right now they have many years as a PROVEN SCAM!
"If you would go over all the posts on this board, I believe you will find the statement. I remember it very clearly."
Could you please give me a link to that letter from the SEC telling (sec_investigator) "to stop bothering them!" You always want PROOF of GSRE wrongdoing ETC., so if someone is going to make a statement of FACT, they should be able to back it up.
I remember sec_investigator and his posts very well also but as I remember, it was someone else making fun of him, and suggesting that the SEC probably told him to stop bothering them, just as you made fun of me, and told me that the SEC would "throw my complaint in their Round File", just a few posts back. 6 months down the road, after I send another GSRE complaint to the SEC, someone will say, didn't the SEC tell you that they threw your last complaint in their round file, as tho it was a FACT. And then again you will say; "If you would go over all the posts on this board, I believe you will find the statement. I remember it very clearly."
"The last time someone did this (sec_investigator) the SEC told them to stop bothering them!"
Could you please give me a link to that letter from the SEC telling (sec_investigator) to stop bothering them!"
And I will predict that the most recent GSRE PR will go nowhere as has all past lying PR's.
Name me one GSRE project that has made a dime over the years. This is just more of the same.
Does this sound familiar?
If not, reread GSRE’S latest PR'S., because now GSRE is starting all over again with a new batch of worthless oil wells with the hope of reworking them. It didn’t work for them back in 2005-2006, and it won’t work now in 2011. It was a con job back in 2005 and 2006 which went nowhere, and it's a new con job by new management now! They lost great amounts of money each year. There are other failed projects from 2007-2011.
Where are those projects NOW??????
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=6393
Jan 20, 2006
Annual Report
Dec 31, 2005
Titan Oil and Gas Balance Sheet December 31, 20
CURRENT OPERATIONS
Work is underway to commence high-volume pumping on the Stanley # 1 Well in Wilson County, in conjunction with a water disposal system to allow the well to be produced at a high volume. The Stanley # 1 Well produced in excess of 1,000 barrels of oil in one month earlier this year, and has a past production history of approx. 28,000 barrels of oil, along with substantial amounts of gas.
A high-volume turbine submersible pump has been ordered, and the permit process is underway to commence work on the target water injection well.
FUTURE PROJECTS
Bastrop County – Central Texas Project
Titan currently has over 250 acres under lease in Bastrop County, with an additional 350 acres that are also available in order to initiate new drilling operations. We are arranging the transportation of tanks from the Kosciusko location to be used in developing our first target well on the Bastrop County lease.
Titan's initial drilling target in Bastrop County is a re-completion of a well with an initial production history of approx. 170 barrels of oil and 178 mcf of gas per day. Titan’s Petroleum Engineer, Pete Maupin, wants to utilize a process to renew production that has been successfully used in the area many times in the past, but that was not applied to this well.
If test results are as expected, with the current 250 acres under lease there are a further 5 opportunities for wells to be drilled in this field - 1 re- completion of an existing well bore, and 4 opportunities for new wells to be drilled from the surface. If we proceed to lease the remaining 350 acres, we will have 6 further opportunities for new wells to be drilled from the surface. We will be issuing a Bastrop County Report to shareholders similar to the report that was prepared for Wilson County.
Stanley #1 B Well
In addition to the foregoing, we plan to undertake horizontal drilling on the Stanley #1 B Well in Wilson County as quickly as possible. The original vertical well originally produced over 30,000 barrels of oil and a substantial quantity of gas as a vertical well. The Stanley # 1 B Well has a large, 5 1/2” diameter casing to more easily facilitate re-completion by horizontal drilling than smaller well bores generally found in the area.
Kosciusko #1 Well
Although results were not as expected in a recent vertical recompletion of an existing well bore, an opportunity exists to undertake an additional horizontal recompletion to exploit several fractured areas immediately adjoining the existing well bore. We are actively discussing this with potential joint venture partners.
Our management team has decided to fully exploit the value of our oil and gas properties at a more rapid pace by means of joint ventures. We have had good progress thus far in discussions with interested parties and will update our shareholders on developments as they occur.
Feb 9, 2007
Annual Report
Dec 31, 2006
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=9874
NOTE 5 – CURRENT OPERATIONS AND FUTURE PROJECTS JOINT VENTURES
The Company has signed a Letter of Intent with M.S. Klotzman Exploration Co. to develop oil and gas leases in South Texas with the re – entry/ re-working of a minimum of two wells. The parties have agreed to keep the specific details of the agreement confidential for 60 days in order to allow time to complete leasing operations. This deal has expired. After much research ,M.S. Klotzman realized that our project was not able to fit into their immediate plans.
STANLEY UNIT
The company was unable to fund the proposed operations on our Stanley Unit and is now in discussions with potential JV partners in order to conduct the operations.
KOSCIUSKO #1 WELL
Results from a vertical recompletion of an existing well bore yielded a dry hole on this unit. Although this unit is now P & A, an opportunity exists to undertake additional horizontal recompletions in areas immediately adjoining the well bore. Discussions on this will be held with potential JV partners.
BASTROP COUNTY PROJECT
On May 01, 2006 the Company entered into a joint venture working interest agreement to develop the Bastrop County project with Oasis Oils and Gas Corporation, a Houston based company headed by J.R. Harrison who has been in the petroleum and fuels marketing business for the last 18 years and has worked with major oil companies such as Exxon, Mobil and Shell Oil and Tejones Operating Corporation, headed by T. Gouger III who has been an oil and gas operator for over 25 years in the South Texas area.
Titan Oil And Gas Inc. has developed this joint venture in a manner that has not affected the company’s share structure. The company will have no direct development expenses other than the lease costs, which has already been paid.On June 21, 2006, the Company entered into an agreement with Tejones Operating Corporation to rework / recomplete 14 wells in Caldwell Co, Texas. This agreement has expired, but we are in negotiations for an extension. On August 24, 2006, the Company was pleased to issue a press release that the
Bastrop County site gas given us our first gas well which was tested at 30mcf per day without any stimulation. Hydraulic fracturing should increase production rates dramatically. The company is currently in negotiations to connect the well with the delivery piping which is nearby. Fracturing has taken place and the
results were successful which shows the well to be a viable producer.
MANAGEMENT CHANGES
On December 18, 2006, the company was pleased to appoint Mr. John Marconette as President and Mr. Brandon Toth as Vice President of Communications for the company. The term of their appointment is for 2 years. Mr. John Haylock and Mr. Guy Posella have resigned as at December 18, 2006.
The SEC has just recently put out a bulletin warning investors about Reverse Mergers like GSRE is doing. They are also halting a lot of companies who have done Reverse Mergers who make unsubstantiated claims like GSRE is doing. Just a matter of time. I have already sent this new GSRE PR to the fraud division.
http://www.sec.gov/investor/alerts/reversemergers.pdf
Some Risks of Investing in Reverse Merger Companies
As with any investment, investors should proceed with caution when considering whether to invest in reverse merger companies. Many companies either fail or struggle to remain viable following a reverse merger. Also, as with other kinds of investments, there have been instances of fraud and other abuses involving reverse merger companies. In light of these consid- erations, individual investors should take into account their own financial situation, consult their financial adviser, and perform thorough research before mak- ing any investment decisions concerning these types of companies.
"Apparently, the english is not perfected to the degree of proving the statement to be accurate."
Kinda like all GSRE PR'S.
ChiefEO, aka Steve Rackley, CEO / Chairman of GSRE, could you please tell us who hired you, and the other GSRE current management?
DWB, Here is an easy question for you since the new management of Green Star Energies is looking after the best interests of GSRE shareholders, and are not crooks.
When they say this in the below PR; "Reserve estimates show that P1 reserves are $16,286,446 undiscounted with a PV10 of $9,534,066".
Is that for this whole Panhandle Field, or for the wells they are interested in?
Green Star Energies, Inc. (PINKSHEETS: GSRE) is pleased to announce that it has entered into a Letter-of-Intent with a private company to acquire approximately 6,500 acres of leasehold with 115 wells in the Panhandle Field, Hutchinson County, TX. The Panhandle Field is the second largest natural gas field in the United States and was discovered in 1918. The Panhandle Field is a giant oil and gas producing area with production from Pennsylvanian and Permian age granite wash and dolomite covering 200,000 acres in 9 counties in the Panhandle of Texas. Since its discovery over 20,000 wells have been drilled, and the field has cumulative production in excess of 1,500,000,000 barrels of oil. In the twenty year span from 1973 to 1993 the Panhandle Field produced 8.1 TCF (Trillion Cubic Feet) of gas.
Steve Rackley (Chairman & CEO) stated: "We are pleased to announce the execution of this agreement. The properties contain current production as well as numerous work-over opportunities and infill drilling that will give our company the platform needed for expanded growth."
Reserve estimates show that P1 reserves are $16,286,446 undiscounted with a PV10 of $9,534,066. Closing is subject to further due diligence and other requirements necessary to close.
The only thing GSRE does is to put out GREAT sounding INTENSIONS in PR'S which never materialize.
Name me one GSRE acquisition over the years that has made any profit, let alone revenue.
Oh I know, this time will be different with new management and all. Well we hear that every time they change management.
Their PR'S are to do nothing more than attract unsuspecting newbies in the this pinky SCAM called GSRE.
The only money to made here is for management's salaries by issuing themselves shares!
Here's more proof! Please read GSRE'S 2005 and 2006 annual reports below.
Does this sound familiar?
If not, reread GSRE’S latest PR., because now GSRE is starting all over again with a new batch of worthless oil wells with the hope of reworking them. It didn’t work for them back in 2005-2006, and it won’t work now in 2011. It was a con job back in 2005 and 2006 which went nowhere, and it's a new con job by new management now! They lost great amounts of money each year. There are other failed projects from 2007-2011.
Where are those projects NOW??????
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=6393
Jan 20, 2006
Annual Report
Dec 31, 2005
Titan Oil and Gas Balance Sheet December 31, 20
CURRENT OPERATIONS
Work is underway to commence high-volume pumping on the Stanley # 1 Well in Wilson County, in conjunction with a water disposal system to allow the well to be produced at a high volume. The Stanley # 1 Well produced in excess of 1,000 barrels of oil in one month earlier this year, and has a past production history of approx. 28,000 barrels of oil, along with substantial amounts of gas.
A high-volume turbine submersible pump has been ordered, and the permit process is underway to commence work on the target water injection well.
FUTURE PROJECTS
Bastrop County – Central Texas Project
Titan currently has over 250 acres under lease in Bastrop County, with an additional 350 acres that are also available in order to initiate new drilling operations. We are arranging the transportation of tanks from the Kosciusko location to be used in developing our first target well on the Bastrop County lease.
Titan's initial drilling target in Bastrop County is a re-completion of a well with an initial production history of approx. 170 barrels of oil and 178 mcf of gas per day. Titan’s Petroleum Engineer, Pete Maupin, wants to utilize a process to renew production that has been successfully used in the area many times in the past, but that was not applied to this well.
If test results are as expected, with the current 250 acres under lease there are a further 5 opportunities for wells to be drilled in this field - 1 re- completion of an existing well bore, and 4 opportunities for new wells to be drilled from the surface. If we proceed to lease the remaining 350 acres, we will have 6 further opportunities for new wells to be drilled from the surface. We will be issuing a Bastrop County Report to shareholders similar to the report that was prepared for Wilson County.
Stanley #1 B Well
In addition to the foregoing, we plan to undertake horizontal drilling on the Stanley #1 B Well in Wilson County as quickly as possible. The original vertical well originally produced over 30,000 barrels of oil and a substantial quantity of gas as a vertical well. The Stanley # 1 B Well has a large, 5 1/2” diameter casing to more easily facilitate re-completion by horizontal drilling than smaller well bores generally found in the area.
Kosciusko #1 Well
Although results were not as expected in a recent vertical recompletion of an existing well bore, an opportunity exists to undertake an additional horizontal recompletion to exploit several fractured areas immediately adjoining the existing well bore. We are actively discussing this with potential joint venture partners.
Our management team has decided to fully exploit the value of our oil and gas properties at a more rapid pace by means of joint ventures. We have had good progress thus far in discussions with interested parties and will update our shareholders on developments as they occur.
Feb 9, 2007
Annual Report
Dec 31, 2006
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=9874
NOTE 5 – CURRENT OPERATIONS AND FUTURE PROJECTS JOINT VENTURES
The Company has signed a Letter of Intent with M.S. Klotzman Exploration Co. to develop oil and gas leases in South Texas with the re – entry/ re-working of a minimum of two wells. The parties have agreed to keep the specific details of the agreement confidential for 60 days in order to allow time to complete leasing operations. This deal has expired. After much research ,M.S. Klotzman realized that our project was not able to fit into their immediate plans.
STANLEY UNIT
The company was unable to fund the proposed operations on our Stanley Unit and is now in discussions with potential JV partners in order to conduct the operations.
KOSCIUSKO #1 WELL
Results from a vertical recompletion of an existing well bore yielded a dry hole on this unit. Although this unit is now P & A, an opportunity exists to undertake additional horizontal recompletions in areas immediately adjoining the well bore. Discussions on this will be held with potential JV partners.
BASTROP COUNTY PROJECT
On May 01, 2006 the Company entered into a joint venture working interest agreement to develop the Bastrop County project with Oasis Oils and Gas Corporation, a Houston based company headed by J.R. Harrison who has been in the petroleum and fuels marketing business for the last 18 years and has worked with major oil companies such as Exxon, Mobil and Shell Oil and Tejones Operating Corporation, headed by T. Gouger III who has been an oil and gas operator for over 25 years in the South Texas area.
Titan Oil And Gas Inc. has developed this joint venture in a manner that has not affected the company’s share structure. The company will have no direct development expenses other than the lease costs, which has already been paid.On June 21, 2006, the Company entered into an agreement with Tejones Operating Corporation to rework / recomplete 14 wells in Caldwell Co, Texas. This agreement has expired, but we are in negotiations for an extension. On August 24, 2006, the Company was pleased to issue a press release that the
Bastrop County site gas given us our first gas well which was tested at 30mcf per day without any stimulation. Hydraulic fracturing should increase production rates dramatically. The company is currently in negotiations to connect the well with the delivery piping which is nearby. Fracturing has taken place and the
results were successful which shows the well to be a viable producer.
MANAGEMENT CHANGES
On December 18, 2006, the company was pleased to appoint Mr. John Marconette as President and Mr. Brandon Toth as Vice President of Communications for the company. The term of their appointment is for 2 years. Mr. John Haylock and Mr. Guy Posella have resigned as at December 18, 2006.
Crimi wrote concerning the 1000 for 1 RS; "To give you an idea how dramatic the effect of reducing the amount of shares below are some hypothetical situations."
Example: if the company had a profit of $3,000,000.00 and you divided the profit by the amount of shares outstanding of 2 billion you would have an earnings per share of $0.0015. Now same profit of $3,000,000.00 divided by 2 million shares you would have an earnings per share of a $1.50.
Now all companies trade at a multiple of earnings, at a conservative ratio of 3X earnings of a $0.0015 would give you a stock price of $0.0045. Now take the same 3X multiple of $1.50 that would give you a stock price of $4.50 per share."
HEY Criminal, if USOG had $3M in profit, there would be no need of a 1000 to 1 RS.
Instead of a great sounding example, why didn't you use USOG'S actual situation. OH, but wait! USOG only has accumulated losses since inception equal to $4,182,330 as of December 31, 2010 according to their Independent Registered Public Accounting Firm, M&K CPAS, PLLC.
It's right here in this USOG fiscal year ending on December 31, 2010 filing, on page 35;
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7976888
Page 35
Here they state; "As discussed in Note 2 to the financial statements, the Company has accumulated losses resulting in an accumulated deficit as of December 31, 2010, which raises substantial doubt about its ability to continue as a going concern. Management’s plans regarding those matters are also described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this uncertainty."
Now go to Note 2. Going Concern
These financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The Company has generated modest revenues since inception and has never paid any dividends and is unlikely to pay dividends. The Company has accumulated losses since inception equal to $4,182,330 as of December 31, 2010. These factors raise substantial doubt regarding the ability of the Company to continue as a going concern. The continuation of the Company as a going concern is dependent upon the continued financial support from its debt holders, the ability of the Company to obtain necessary equity financing to continue operations and pay down debt and to generate enough operating cash flows to sustain operations in the future.
/s/ M&K CPAS, PLLC
www.mkacpas.com
Houston, Texas
April 15, 2011
"Glad to see that there are investors who keep countering those who wish to drop the pps with tiny sells."
Well it seems those tiny sells, 5600 so far today, outnumber those even tinier buys, 1250 so far today.
Dear Fellow Stockholders:
We cordially invite you to attend the 2011 annual meeting (“Annual Meeting”) of stockholders of United States Oil and Gas Corp, which will be held at 10 AM local time, on August 31, 2011 at 11782 Jollyville Road, Suite 211B, Austin, TX, 78759. All stockholders of record at the close of business on July 27, 2011 are entitled to vote at the Annual Meeting.
http://ih.advfn.com/p.php?pid=nmona&article=48704997
"KEEP BEATING USOG WHILE THEY ARE DOWN!"
Telling the truth about USOG is not "BEATING USOG and their shareholders while they are down".
The USOG SCAMMING management did it!!
Did you ever take the time to read the USOG Aug. 16,2011 PR.
http://www.usaoilandgas.com/16_aug_11.html
Look at the fine print near the bottom where it says; "Refer to “Item 1A – Risk Factors” in our Form 10-K for the year ended December 31, 2010 filed with the Securities and Exchange Commission for a discussion regarding our exposure to risks."
Here is that filing; http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7976888
Please read USOG'S disclaimer Item 1A. Risk Factors that starts on page 9 and continues through page 20.
Of corse many will say; "That's just a standard risk factor disclaimer that most companies have".
Also note on page 20 Item 1B. Unresolved Staff Comments
"The SEC has reviewed and provided comments on the company’s previous filing of Form 10 originally filed on May 3, 2010. We have responded to the comments and are waiting on a response from the SEC."
Now what was that all about? Is that why they corrected some earlier management financial accounting mistakes, which may have led to the SEC suspension?
OK, then go on down to page 35. Now this is from the Independent Registered Public Accounting Firm, M&K CPAS, PLLC, NOT USOG.
Here they state; "As discussed in Note 2 to the financial statements, the Company has accumulated losses resulting in an accumulated deficit as of December 31, 2010, which raises substantial doubt about its ability to continue as a going concern. Management’s plans regarding those matters are also described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this uncertainty."
Now go to Note 2. Going Concern
These financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The Company has generated modest revenues since inception and has never paid any dividends and is unlikely to pay dividends. The Company has accumulated losses since inception equal to $4,182,330 as of December 31, 2010. These factors raise substantial doubt regarding the ability of the Company to continue as a going concern. The continuation of the Company as a going concern is dependent upon the continued financial support from its debt holders, the ability of the Company to obtain necessary equity financing to continue operations and pay down debt and to generate enough operating cash flows to sustain operations in the future.
/s/ M&K CPAS, PLLC
www.mkacpas.com
Houston, Texas
April 15, 2011
"Have they brought charges. No, and they won't. It was all for show."
That's your opinion but the FACTS are;
That the SEC has suspended USOG charging them with;
"It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of the issuers listed below. As set forth below for EACH ISSUER, questions have arisen regarding the accuracy of publicly disseminated information, concerning, among other things, (for USOG,) the adequacy and accuracy of press releases concerning the company’s operations and stock promoting activity by the company."
Now the 10 day suspension is long over, and the SEC will not comment publicly on the status of a company when the ten-day suspension period ends, because the company may still have serious legal problems. For instance, the SEC may continue to investigate a company to determine whether it has defrauded investors. The public will not know if the SEC is continuing its investigation until the SEC publicly announces an enforcement action against the company.
Now since the company has not shared the exact/formal charges they received from the SEC with their investors, who knows? I do know the SEC allows them a certain amount of time to respond to the SEC in order to clarify the SEC'S questions. If they can't or don't, then the SEC can and will charge them in a court action.
Now since the SEC hasn't declared a court action, with specific charges against USOG, and no MM has resumed quoting a bid and ask for USOG, then the investigation must still be on going. If the charges were minor, it would have already been straitened out but since it has been so long, BAD news IMO.
http://www.sec.gov/investor/alerts/tradingsuspensions.pdf
Someone complained (which got deleted) about my WRGL post that I am now replying to.
They complained about my saying; "Pink Sheets" the company.
Well everyone knows that the company is "OTC Markets Group, Inc., a private company" informally and historically known as "Pink Sheets".
I even had this at the bottom of that post, which is what investopedia says about Pink Sheets;
http://www.investopedia.com/terms/p/pinksheets.asp#axzz1UhghqdWr
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".
I then gave a very brief explanation about the Pink Sheet/OTC market without going into a long detailed explanation by saying; "They have different categories with the best category being OTC and a lower category as Pink Sheet, just to let investors know which is the best Pink Sheet stocks and which are the worst. WRGL is in the worst category."
I guess I should have just put a link to the PINK SHEETS website that explains in great detail all their different tiers, categories, and reporting requirements. But the fact remains that anyone investing in these Pink Sheet/OTC stocks should be very aware of all this info before investing.
I figured it would be worthless though since I had already gave the SEC'S very careful, and detailed explanation as to the meaning of "Unsolicited Quotes" 2 times to one poster, and they still didn't understand it.
Well here it is FWIW.
http://www.otcmarkets.com/otc-101/investing-otc-security
By the way, what's up with all the selling all of a sudden today?
245,000 sells and only 2500 buys so far according to the IH TRADES page.
"218,900 shares traded today, most in the last half hour. Seems no one is having problems trading this stock. Four MMs on bid and four on ask."
I don't understand your post. I've never said anything about anyone having problems trading this stock, or the number of MMs on the bid and ask.
Your post is in reply to my post 637 about, "WRGL management is borrowing money from WRGL mangement run SCAM companies." which has nothing to do with what you posted. What is the POINT you are trying to make here?
Now if you are referring to the Pink Sheet WARNING about "Unsolicited Quotes" for WRGL that can be seen here; http://www.otcmarkets.com/stock/WRGL/quote, then read very carefully the SEC explanation concerning "Unsolicited Quotes" that I posted in post 633, 638, and 642, or go here; http://www.sec.gov/answers/unsolicitedquotations.htm
"By the way, aren't all OTC and Pink Sheets stocks "unsolicited" orders?"
By the way, all OTC stocks are Pink Sheet stocks. "Pink Sheets" the company, have different categories with the best category being OTC and a lower category as Pink Sheet, just to let investors know which is the best Pink Sheet stocks and which are the worst. WRGL is in the worst category.
http://www.investopedia.com/terms/p/pinksheets.asp#axzz1UhghqdWr
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".
"By the way, aren't all OTC and Pink Sheets stocks "unsolicited" orders?"
NO! All OTC and Pink Sheets stocks are NOT "Unsolicited Quotations", not "unsolicited" orders as you posted. You should not be investing in pinky land if you don't understand this. This is a SCAM company!
Did you not read the explanation about "Unsolicited Quotations" that is on the SEC site I posted. Here it is again: Unsolicited Quotations
When you see the word “unsolicited” as part of a stock quotation page on a website such as the Pink Sheets (marked as “unsolicited”) or OTC Bulletin Board (marked as “U”), you should be aware that the quote is not necessarily a market maker’s own quotation reflecting a price based on market conditions or current information about the company being quoted. Instead, it is a quotation that a market maker posts to reflect an unsolicited order by a customer. So, if you and anyone calls his or her broker, or places an on-line order for the stock – without the broker’s promotion of the stock to that individual – that order would be posted at the customer’s own designated price and marked as an “unsolicited” quotation. It is important to be aware that the individual placing such an order may not be relying on current information about the company – which is vitally important before making an informed investment decision. The individual may unwittingly be relying on bogus pricing and false promotional information from spam email or faxes. Worse yet the individual placing the order – while appearing as an unsolicited member of the general public – may actually be in league with the fraudsters. That’s frequently how the fraudsters get the public market started out of the blue, and how they are able to generate the appearance of investor interest and trading volume. So when you see the word “unsolicited” in reference to the quotation’s status, you should be cautious and find out whether there is current information about the company before you buy or sell the stock.
If a company’s securities are listed on a stock exchange, the company is subject to certain reporting requirements – including making audited financial statements available to the public. If a company’s securities are quoted on the OTC Bulletin Board, the Financial Industry Regulatory Authority (FINRA) requires the company to comply with certain reporting requirements. Companies with securities quoted on the Pink Sheets, however, are not necessarily subject to reporting requirements.
In addition, companies may have quotations for their securities posted on a quotation service such as the Pink Sheets or the OTC Bulletin Board, as long as either:
(1) A broker has gathered and reviewed information about the company, and has demonstrated it did so to FINRA;[1] or
(2) The broker submits a quotation for posting that represents that the customer’s interest in the security was not solicited by that broker. These quotations thus are marked as “unsolicited” quotations on a stock quotation page, such as the Pink Sheets or OTC Bulletin Board.[2]
In short, if you are interested in a stock that you learned about through spam e-mails or faxes, you should ask your broker whether the company is subject to reporting requirements and has made current reports available. In addition, for stocks quoted on the Pink Sheets or OTC Bulletin Board, you should ask your broker whether any broker has done the requisite fact gathering on the stock (i.e., whether a Form 211 was filed for the company) – or whether quotations are being posted in the Pink Sheets on an “unsolicited” basis only. If the company’s stock is quoted on an “unsolicited” basis only, you may want to consider more carefully who was calling this security to your attention – particularly if the source is a spam email or fax - and what information that source is using to calculate the price of the quote. If the source is spam, be alert!
[1] In general, broker-dealers seeking to commence quotations in Pink Sheets and OTC Bulletin Board securities must demonstrate that they have gathered accurate and current information about an issuer through their disclosures on Form 211, which is filed with and reviewed by FINRA, and by complying with SEC Rule 15c2-11 and equivalent FINRA rules.
[2] The OTC Bulletin Board and the Pink Sheets also post information about how securities are quoted, including information about unsolicited orders. See, for example, the OTC Bulletin Board’s website at http://www.otcbb.com/aboutotcbb/howtoquote.stm, and the Pink Sheets’ website at http://www.pinksheets.com/otcguide/brokers_index.jsp. The OTC Bulletin Board also posts warnings and information about spam at http://www.otcbb.com/help/spam.stm.
http://www.sec.gov/answers/unsolicitedquotations.htm
I feel sorry for those poor souls who got suckered into BCME back in May and June when the SP was between .60-.75. Now if they want to sell, it's only worth .14. What a SCAM!
Date Open High Low Close/Last Volume
08/10/2011 0.249 0.249 0.14 0.249 5,450*
08/09/2011 0.14 0.249 0.14 0.249 4,900
08/08/2011 0.14 0.279 0.14 0.279 200
08/05/2011 0.10 0.28 0.10 0.28 200
08/04/2011 0.348 0.348 0.16 0.348 11,057
08/03/2011 0.15 0.30 0.15 0.16 26,025
08/02/2011 0.19 0.39 0.10 0.39 18,221
08/01/2011 0.40 - - 0.40 0
07/29/2011 0.13 0.40 0.13 0.40 5,100
07/28/2011 0.42 0.42 0.12 0.42 24,900
07/27/2011 0.26 0.38 0.20 0.38 8,700
07/26/2011 0.35 0.489 0.20 0.469 5,400
07/25/2011 0.549 - - 0.549 0
07/22/2011 0.549 0.549 0.549 0.549 195
07/21/2011 0.35 0.549 0.30 0.549 35,300
07/20/2011 0.549 0.549 0.549 0.549 3,000
07/19/2011 0.34 0.549 0.34 0.549 15,700
07/18/2011 0.34 0.50 0.34 0.50 15,570
07/15/2011 0.20 0.50 0.20 0.50 600
07/14/2011 0.20 0.50 0.20 0.50 433
07/13/2011 0.548 - - 0.548 0
07/12/2011 0.13 0.548 0.13 0.548 400
07/11/2011 0.584 - - 0.584 0
07/08/2011 0.584 - - 0.584 0
07/07/2011 0.35 0.584 0.35 0.584 1,100
07/06/2011 0.584 - - 0.584 0
07/05/2011 0.41 0.584 0.41 0.584 1,100
07/01/2011 0.584 0.584 0.45 0.584 10,400
06/30/2011 0.10 0.589 0.10 0.589 10,200
06/29/2011 0.50 0.589 0.50 0.589 1,000
06/28/2011 0.52 0.60 0.52 0.60 2,600
06/27/2011 0.50 0.59 0.35 0.59 6,600
06/24/2011 0.30 0.61 0.30 0.61 3,327
06/23/2011 0.73 - - 0.73 0
06/22/2011 0.73 - - 0.73 0
06/21/2011 0.73 - - 0.73 0
06/20/2011 0.73 - - 0.73 0
06/17/2011 0.73 - - 0.73 0
06/16/2011 0.73 - - 0.73 0
06/15/2011 0.73 - - 0.73 0
06/14/2011 0.73 - - 0.73 0
06/13/2011 0.73 - - 0.73 0
06/10/2011 0.73 - - 0.73 0
06/09/2011 0.73 - - 0.73 0
06/08/2011 0.73 - - 0.73 0
06/07/2011 0.73 - - 0.73 0
06/06/2011 0.73 - - 0.73 0
06/03/2011 0.73 0.73 0.70 0.73 6,900
06/02/2011 0.30 0.30 0.30 0.30 500
06/01/2011 0.69 0.69 0.69 0.69 400
05/31/2011 0.69 0.69 0.50 0.65 5,390
05/27/2011 0.50 0.65 0.50 0.65 200
05/26/2011 0.73 0.73 0.40 0.65 9,350
05/25/2011 0.54 0.54 0.42 0.42 5,000
05/24/2011 0.68 - - 0.68 0
05/23/2011 0.68 - - 0.68 0
05/20/2011 0.68 0.68 0.68 0.68 2,000
05/19/2011 0.69 0.69 0.68 0.68 6,000
05/18/2011 0.65 0.70 0.55 0.69 7,460
05/17/2011 0.53 0.848 0.52 0.75 37,269
05/16/2011 0.60 0.70 0.52 0.70 8,415
05/13/2011 0.689 - - 0.689 0
05/12/2011 0.689 - - 0.689 0
05/11/2011 0.72 0.72 0.54 0.689 29,715
05/10/2011 0.719 0.719 0.719 0.719 1,300
I challenge anyone on this board to call or email WRGL management, and ask how many students they have enrolled at the present time?
It's better to email them, because then you have it in writing, none of this, he said, she said, phone conversation. Let us know what you find out. GL
Phone: 305-607-9518
Email: warriorgirl@nycmail.com
"My Level II shows two MMs (NITE and HDSN) on bid and three MMs on ask (ETMM, STXG, and HDSN). I have traded this stock within the past week and had no problems. Hence, I'm not sure of what issue your are describing? "
That is true but they are "Unsolicited Orders" which are clearly described at the web addresses I gave in my post.
Just go here;
http://www.otcmarkets.com/stock/WRGL/quote
You will then see this; WARNING! Unsolicited Quotes Only
Investors should be aware that no firm is making a market in this stock on OTC link. All prices reflect unsolicited customer orders and investors may have a difficult time selling this stock. Click here for more info on Unsolicited Quotes.
If you click on "WARNING" which is in large red letters, it will take you to the SEC site below, which explains it all.
http://www.sec.gov/answers/unsolicitedquotations.htm
WRGL management is borrowing money from WRGL mangement run SCAM companies.
Go to this Pink Sheets web address for WRGL;
http://www.otcmarkets.com/stock/WRGL/financials
Then look at WRGL’S May 31, 2011 Quarterly Report - Financial Statements
Mar 31, 2011 at this address;
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=52704
Then Under ASSETS you have this;
Current Assets:
Investment in Kruho Ventures 750,000
Investment in Riverdale Capital Ltd. 1,149,451
Company Officers of Kruho Ventures, Director Carl Kruse
Company Officers of Riverdale Capital Ltd., Carl H. Kruse President
Now go here;
http://www.otcmarkets.com/stock/RICP/news/British-Columbia-Securities-Commission---Cease-Trade-Order?id=22289&b=y
British Columbia Securities Commission - Cease Trade Order
Sep 03, 2010
OTC Disclosure & News Service
Vancouver, BC, Canada -
Note: This Order only applies to residents of British Columbia
2010 BCSECCOM 503
Cease Trade Order
Riverdale Capital Ltd.
Section 164 of the Securities Act, R.S.B.C. 1996, c. 418
¶ 1 Riverdale Capital Ltd. (Riverdale) is an OTC reporting issuer under BC Instrument 51-509 Issuers Quoted in the U.S. Over-the-Counter Markets(BCI 51-509).
¶ 2 Riverdale has not filed:
?
? 1. interim financial statements for the interim periods ended June 30, 2009, September 30, 2009, March 31, 2010 and June 30, 2010, as required under Part 4 of National Instrument 51-102 Continuous Disclosure Obligations(NI 51-102) and section 5(b) of BCI 51-509,
?
? 2. comparative annual financial statements for its financial year ended
? December 31, 2009, as required under Part 4 of NI 51-102 and section 5(b) of BCI 51-509,
?
? 3. Form 51-102F1 Management's Discussion and Analysisfor the periods ended June 30, 2009, September 30, 2009, December 31, 2009, March 31, 2010, and June 30, 2010, as required under Part 5 of NI 51-102 and section 5(b) of BCI 51-509, and
?
? 4. Form 51-102F2 Annual Information Formfor the year ended December 31, 2009, as required under section 5(c) of BCI 51-509
?
? (the required records).
¶ 3 Under section 164(1) of the Act, the Executive Director orders that all trading in the securities of Riverdale cease until:
?
? 1. it files the required records, completed in accordance with the Act and rules, and
? 2. the Executive Director makes an order under section 171 of the Act revoking this order.
¶ 4 September 3, 2010
Martin Eady, CA
Director
Corporate Finance
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
For those who think this is a legit company, go to Pink Sheets;
http://www.otcmarkets.com/stock/WRGL/quote
You will see this; WARNING! Unsolicited Quotes Only
Investors should be aware that no firm is making a market in this stock on OTC link. All prices reflect unsolicited customer orders and investors may have a difficult time selling this stock. Click here for more info on Unsolicited Quotes.
If you click on the underlined words; “Click Here”, it will take you to this SEC site with this info;
Be Alert When You Receive Spam E-mail or Faxes And When You See “Unsolicited Quotations” Posted for Stocks
When you receive a spam e-mail or fax regarding a company’s stock, you should know right away that someone wants you to buy this stock. When you receive such spam, you should exercise extreme caution. The chances are that there may be very little current information publicly available about the company that you can review before making an informed decision whether to buy the stock. Such spam solicitations may be part of a fraudulent investment scheme. Spammers and fraudsters often count on investors to call their broker or place an on-line order for the hyped stock. Such an order may be reflected as an “unsolicited” quotation in the quotation service – which is a quotation reflecting an order that has not been solicited by the customer’s broker. So you should be cautious when you see quotes that are marked as “unsolicited” quotations, and make sure that you obtain current and accurate information about the company before making an investment decision.
Spam
"Spam" is mass electronic mail or junk email or faxes. Because spam is so cheap and easy to create, fraudsters increasingly use it to find investors for bogus investment schemes or to spread false information about a company. Spam allows the unscrupulous to target many more potential investors than cold calling or mass mailing. Using bulk e-mail and faxing programs, spammers can send personalized messages to thousands and even millions of individuals at a time. For more information, read our publication, Internet Fraud: How to Avoid Internet Investment Scams
Unsolicited Quotations
When you see the word “unsolicited” as part of a stock quotation page on a website such as the Pink Sheets (marked as “unsolicited”) or OTC Bulletin Board (marked as “U”), you should be aware that the quote is not necessarily a market maker’s own quotation reflecting a price based on market conditions or current information about the company being quoted. Instead, it is a quotation that a market maker posts to reflect an unsolicited order by a customer. So, if you and anyone calls his or her broker, or places an on-line order for the stock – without the broker’s promotion of the stock to that individual – that order would be posted at the customer’s own designated price and marked as an “unsolicited” quotation. It is important to be aware that the individual placing such an order may not be relying on current information about the company – which is vitally important before making an informed investment decision. The individual may unwittingly be relying on bogus pricing and false promotional information from spam email or faxes. Worse yet the individual placing the order – while appearing as an unsolicited member of the general public – may actually be in league with the fraudsters. That’s frequently how the fraudsters get the public market started out of the blue, and how they are able to generate the appearance of investor interest and trading volume. So when you see the word “unsolicited” in reference to the quotation’s status, you should be cautious and find out whether there is current information about the company before you buy or sell the stock.
If a company’s securities are listed on a stock exchange, the company is subject to certain reporting requirements – including making audited financial statements available to the public. If a company’s securities are quoted on the OTC Bulletin Board, the Financial Industry Regulatory Authority (FINRA) requires the company to comply with certain reporting requirements. Companies with securities quoted on the Pink Sheets, however, are not necessarily subject to reporting requirements.
In addition, companies may have quotations for their securities posted on a quotation service such as the Pink Sheets or the OTC Bulletin Board, as long as either:
(1) A broker has gathered and reviewed information about the company, and has demonstrated it did so to FINRA;[1] or
(2) The broker submits a quotation for posting that represents that the customer’s interest in the security was not solicited by that broker. These quotations thus are marked as “unsolicited” quotations on a stock quotation page, such as the Pink Sheets or OTC Bulletin Board.[2]
In short, if you are interested in a stock that you learned about through spam e-mails or faxes, you should ask your broker whether the company is subject to reporting requirements and has made current reports available. In addition, for stocks quoted on the Pink Sheets or OTC Bulletin Board, you should ask your broker whether any broker has done the requisite fact gathering on the stock (i.e., whether a Form 211 was filed for the company) – or whether quotations are being posted in the Pink Sheets on an “unsolicited” basis only. If the company’s stock is quoted on an “unsolicited” basis only, you may want to consider more carefully who was calling this security to your attention – particularly if the source is a spam email or fax - and what information that source is using to calculate the price of the quote. If the source is spam, be alert!
[1] In general, broker-dealers seeking to commence quotations in Pink Sheets and OTC Bulletin Board securities must demonstrate that they have gathered accurate and current information about an issuer through their disclosures on Form 211, which is filed with and reviewed by FINRA, and by complying with SEC Rule 15c2-11 and equivalent FINRA rules.
[2] The OTC Bulletin Board and the Pink Sheets also post information about how securities are quoted, including information about unsolicited orders. See, for example, the OTC Bulletin Board’s website at http://www.otcbb.com/aboutotcbb/howtoquote.stm, and the Pink Sheets’ website at http://www.pinksheets.com/otcguide/brokers_index.jsp. The OTC Bulletin Board also posts warnings and information about spam at http://www.otcbb.com/help/spam.stm. ;
http://www.sec.gov/answers/unsolicitedquotations.htm
It looks to me like the bid is getting weaker by the day! So far, today's Range is 0.0002 - 0.0004.
Look at a chart, GSRE has been and continues down overall.
Please read GSRE'S 2005 and 2006 annual reports below.
Does this sound familiar?
If not, reread GSRE’S latest PR., because now GSRE is starting all over again with a new batch of worthless oil wells with the hope of reworking them. It didn’t work for them back in 2005-2006, and it won’t work now in 2011. It was a con job back in 2005 and 2006 which went nowhere. They lost great amounts of money each year. There are other failed projects from 2007-2011.
Where are those projects NOW??????
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=6393
Jan 20, 2006
Annual Report
Dec 31, 2005
Titan Oil and Gas Balance Sheet December 31, 20
CURRENT OPERATIONS
Work is underway to commence high-volume pumping on the Stanley # 1 Well in Wilson County, in conjunction with a water disposal system to allow the well to be produced at a high volume. The Stanley # 1 Well produced in excess of 1,000 barrels of oil in one month earlier this year, and has a past production history of approx. 28,000 barrels of oil, along with substantial amounts of gas.
A high-volume turbine submersible pump has been ordered, and the permit process is underway to commence work on the target water injection well.
FUTURE PROJECTS
Bastrop County – Central Texas Project
Titan currently has over 250 acres under lease in Bastrop County, with an additional 350 acres that are also available in order to initiate new drilling operations. We are arranging the transportation of tanks from the Kosciusko location to be used in developing our first target well on the Bastrop County lease.
Titan's initial drilling target in Bastrop County is a re-completion of a well with an initial production history of approx. 170 barrels of oil and 178 mcf of gas per day. Titan’s Petroleum Engineer, Pete Maupin, wants to utilize a process to renew production that has been successfully used in the area many times in the past, but that was not applied to this well.
If test results are as expected, with the current 250 acres under lease there are a further 5 opportunities for wells to be drilled in this field - 1 re- completion of an existing well bore, and 4 opportunities for new wells to be drilled from the surface. If we proceed to lease the remaining 350 acres, we will have 6 further opportunities for new wells to be drilled from the surface. We will be issuing a Bastrop County Report to shareholders similar to the report that was prepared for Wilson County.
Stanley #1 B Well
In addition to the foregoing, we plan to undertake horizontal drilling on the Stanley #1 B Well in Wilson County as quickly as possible. The original vertical well originally produced over 30,000 barrels of oil and a substantial quantity of gas as a vertical well. The Stanley # 1 B Well has a large, 5 1/2” diameter casing to more easily facilitate re-completion by horizontal drilling than smaller well bores generally found in the area.
Kosciusko #1 Well
Although results were not as expected in a recent vertical recompletion of an existing well bore, an opportunity exists to undertake an additional horizontal recompletion to exploit several fractured areas immediately adjoining the existing well bore. We are actively discussing this with potential joint venture partners.
Our management team has decided to fully exploit the value of our oil and gas properties at a more rapid pace by means of joint ventures. We have had good progress thus far in discussions with interested parties and will update our shareholders on developments as they occur.
Feb 9, 2007
Annual Report
Dec 31, 2006
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=9874
NOTE 5 – CURRENT OPERATIONS AND FUTURE PROJECTS JOINT VENTURES
The Company has signed a Letter of Intent with M.S. Klotzman Exploration Co. to develop oil and gas leases in South Texas with the re – entry/ re-working of a minimum of two wells. The parties have agreed to keep the specific details of the agreement confidential for 60 days in order to allow time to complete leasing operations. This deal has expired. After much research ,M.S. Klotzman realized that our project was not able to fit into their immediate plans.
STANLEY UNIT
The company was unable to fund the proposed operations on our Stanley Unit and is now in discussions with potential JV partners in order to conduct the operations.
KOSCIUSKO #1 WELL
Results from a vertical recompletion of an existing well bore yielded a dry hole on this unit. Although this unit is now P & A, an opportunity exists to undertake additional horizontal recompletions in areas immediately adjoining the well bore. Discussions on this will be held with potential JV partners.
BASTROP COUNTY PROJECT
On May 01, 2006 the Company entered into a joint venture working interest agreement to develop the Bastrop County project with Oasis Oils and Gas Corporation, a Houston based company headed by J.R. Harrison who has been in the petroleum and fuels marketing business for the last 18 years and has worked with major oil companies such as Exxon, Mobil and Shell Oil and Tejones Operating Corporation, headed by T. Gouger III who has been an oil and gas operator for over 25 years in the South Texas area.
Titan Oil And Gas Inc. has developed this joint venture in a manner that has not affected the company’s share structure. The company will have no direct development expenses other than the lease costs, which has already been paid.On June 21, 2006, the Company entered into an agreement with Tejones Operating Corporation to rework / recomplete 14 wells in Caldwell Co, Texas. This agreement has expired, but we are in negotiations for an extension. On August 24, 2006, the Company was pleased to issue a press release that the
Bastrop County site gas given us our first gas well which was tested at 30mcf per day without any stimulation. Hydraulic fracturing should increase production rates dramatically. The company is currently in negotiations to connect the well with the delivery piping which is nearby. Fracturing has taken place and the
results were successful which shows the well to be a viable producer.
MANAGEMENT CHANGES
On December 18, 2006, the company was pleased to appoint Mr. John Marconette as President and Mr. Brandon Toth as Vice President of Communications for the company. The term of their appointment is for 2 years. Mr. John Haylock and Mr. Guy Posella have resigned as at December 18, 2006.
You already asked that question once, and I answered.
Here's my answer again!
Now why would I want to go to a GSRE party with a bunch of CON MEN owners and managers?????
GSRE has no intension of acquiring a legit company. That would require actual WORK for management.
It's much easier to claim COMPLETED acquisitions, then say, oh sorry, we did not complete that acquisition after all, or that 9M AEON their share certificate got lost in the mail along with their $180,000 a year management agreement for Crows Run. lol
Now why would I want to go to a GSRE party with a bunch of CON MEN owners and managers?????
The only thing GSRE does is to put out GREAT sounding INTENSIONS in PR'S which never materialize.
Name me one GSRE acquisition over the years that has made any profit, let alone revenue.
Oh I know, this time will be different with new management and all. Well we hear that every time they change management.
Their PR'S are to do nothing more than attract unsuspecting newbies in the this pinky SCAM called GSRE.
The only money to made here is for management's salaries by issuing themselves shares!
But you just said that; "All of those statements just substantiate that the new management of Green Star Energies is looking after the best interests of GSRE shareholders."
Now one of those statements was "this statement of mine "that their last PR is chucked full of "NAME DROPPING" and past production, which has no bearing on present production. They then say; "Reserve estimates show that P1 reserves are $16,286,446 undiscounted with a PV10 of $9,534,066". Now is that for this whole Panhandle Field, or for the wells they are interested in? My guess is that those reserves are for the whole Panhandle Field but make it sound like it's for this 6,500 acre leasehold. If this had any value, the leaseholders would not be selling it for shares in a STINKY PINKIE SCAM company. Also, what are they using for money, more share dilution??? "
Now you say you disagree???????
DWB, Here is an easy question for you since "the new management of Green Star Energies is looking after the best interests of GSRE shareholders".
When they say this in the below PR; "Reserve estimates show that P1 reserves are $16,286,446 undiscounted with a PV10 of $9,534,066".
Is that for this whole Panhandle Field, or for the wells they are interested in?
Green Star Energies, Inc. (PINKSHEETS: GSRE) is pleased to announce that it has entered into a Letter-of-Intent with a private company to acquire approximately 6,500 acres of leasehold with 115 wells in the Panhandle Field, Hutchinson County, TX. The Panhandle Field is the second largest natural gas field in the United States and was discovered in 1918. The Panhandle Field is a giant oil and gas producing area with production from Pennsylvanian and Permian age granite wash and dolomite covering 200,000 acres in 9 counties in the Panhandle of Texas. Since its discovery over 20,000 wells have been drilled, and the field has cumulative production in excess of 1,500,000,000 barrels of oil. In the twenty year span from 1973 to 1993 the Panhandle Field produced 8.1 TCF (Trillion Cubic Feet) of gas.
Steve Rackley (Chairman & CEO) stated: "We are pleased to announce the execution of this agreement. The properties contain current production as well as numerous work-over opportunities and infill drilling that will give our company the platform needed for expanded growth."
Reserve estimates show that P1 reserves are $16,286,446 undiscounted with a PV10 of $9,534,066. Closing is subject to further due diligence and other requirements necessary to close.
"All of those statements just substantiate that the new management of Green Star Energies is looking after the best interests of GSRE shareholders."
So you agree that this statement of mine "that their last PR is chucked full of "NAME DROPPING" and past production, which has no bearing on present production. They then say; "Reserve estimates show that P1 reserves are $16,286,446 undiscounted with a PV10 of $9,534,066". Now is that for this whole Panhandle Field, or for the wells they are interested in? My guess is that those reserves are for the whole Panhandle Field but make it sound like it's for this 6,500 acre leasehold. If this had any value, the leaseholders would not be selling it for shares in a STINKY PINKIE SCAM company. Also, what are they using for money, more share dilution??? "
I think this PR is IDENTICAL to GSRE past PR"S. ALL FLUFF with no SUBSTANCE!!
Just another CON JOB!!
Green Star Energies, Inc. (PINKSHEETS: GSRE) is pleased to announce that it has entered into a Letter-of-Intent with a private company to acquire approximately 6,500 acres of leasehold with 115 wells in the Panhandle Field, Hutchinson County, TX. The Panhandle Field is the second largest natural gas field in the United States and was discovered in 1918. The Panhandle Field is a giant oil and gas producing area with production from Pennsylvanian and Permian age granite wash and dolomite covering 200,000 acres in 9 counties in the Panhandle of Texas. Since its discovery over 20,000 wells have been drilled, and the field has cumulative production in excess of 1,500,000,000 barrels of oil. In the twenty year span from 1973 to 1993 the Panhandle Field produced 8.1 TCF (Trillion Cubic Feet) of gas.
Steve Rackley (Chairman & CEO) stated: "We are pleased to announce the execution of this agreement. The properties contain current production as well as numerous work-over opportunities and infill drilling that will give our company the platform needed for expanded growth."
Reserve estimates show that P1 reserves are $16,286,446 undiscounted with a PV10 of $9,534,066. Closing is subject to further due diligence and other requirements necessary to close.
"You failed to answer my previous question as to the DATE and TIME of the dump? Please provide that information"
I will answer your above question in post # 32110 when you answer my question to you that you failed to do back in post # 32019, which was:
"DWB, Please explain which comments you are referring to when you say in post #32017, "I disagree on a number of them".
Now I counted 6 comments below that crowin listed, and they all look true to me!
So again, which ones did you disagree with.
1. confused is the investors over the years with GSRE.
2. All talk and never NO action!
3. Insiders want to sell shares, they will say any thing to get one to buy!
4. Steve needs to be transparent and inform everyone the current GSRE O/S.
5. Steve needs to be transparent and inform everyone who appointed him GSRE CEO!
6. Steve needs to be transparent and inform everyone how many shares he was paid to become CEO of GSRE! "
Your response so far has been: "My statement was totally clear". Well it was everything but clear.