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Just a couple more weeks. A steady uptrend before news would be perfect.
We are expecting production next Friday or the following Monday correct?
You're right Naz. There was a reverse split towards the end of '12 / beggining of '13. The weird thing is that it was from about 150mil ish shares down to 77mil is shares.
Also. A huge part of the allure to this stock at the time: Smith owned about 40milish shares. The float was less than half the outstanding shares.
Anyways. Here the company is, applying for a loan. Not another R/S. we get it. They did it in the past. Until they make that announcement lets try not to speculate too much on that.
Tammy. The day after the spike to 12 cents the stock retracted all the way down to 0.05. I also entered at that level,chasing it up the bounce a little averaging 6 cents. By Friday the share price was around 7 cents. The following monday the stock opened up at 0.03. It was a penny by week's end. And now here we are.
Honestly I thought it was a price correction pending production results. They just closed the deal on their leases. Now they had to begin reworking the wells. Before you know it your sitting in the sub pennies. Just kind of happened that way.
S1/A filed today.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9923986
Mr Hoover aquired more shares today. He is now at 10,587,718 shares.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9924158
Outstanding Shares as of 4/05/2014
1,829,645,567
as of 03/29/2014 = 1,576,183,746 as of 03/22/2014 = 1,522,483,745 as of 03/15/2014 = 1,368,493,108 as of 03/08/2014 = 1,324,419,850 as of 03/01/2014 = 1,183,724,591 as of 02/24/2014 = 1,148,516,257 as of 02/17/2014 = 883,787,175 as of 02/10/2014 = 882,765,681 as of 02/03/2014 = 807,808,501 as of 01/27/2014 = 701,162,036 as of 01/20/2014 = 580,526,353 as of 01/13/2014 = 534,676,720 as of 01/06/2014 = 480,854,628 as of 12/23/2013 = 389,288,198 as of 12/02/2013 = 304,647,633 as of 11/18/2013 = 278,223,905 As of 11/6/2013 = 224,282,437
This. Doesn't help...
By the 15th.
Yes that is a good point but the loan is ultimately coming from a third party, not the SEC. I feel the SEC would be more concerned in making sure the books are accurate and PEII is a legit company. Beyond that the risk of the loan is the financer's responsibility.
The 10K will have the current financials which the SEC wants for approving the S1. PEII has submitted the paperwork for an S1, financing for $10mil. With this financing we should see the leases in Oklahoma reworked.
Kind of like dominos.
Texas wells are reworked. Still waiting on the Texas Railroad Commision to give the green light on turning them on. Ops in Texas is supposed to yield 8-10 more bopd.
Yeah. I guess a pr can be dropped just about anytime. I'll check out their website. Thanks.
Hey guys. When can we expect this news to hit? I've read plenty of intent or aquisition articles all stating updates to follow. I haven't seen any recent closing articles.
Thanks for the info mrmacg00! I used to trade between the 3.00 - 3.30
range before the last run. Fun times. Its great to see things are progressing. I might try to make an entry over the next couple.
Hey everyone. I see VRNG has won some key patent cases. Is there a date set for when they are going to recieve royalties?
On a side note. Usually you do see a stock drivin up in anticipation for earnings. There has been a great deal of volume this week but barely a budge in share price. I want to believe MM games are holding us down. Come Monday we'll see a considerable bump in SP followed with the S1 and reworking the oklahoma leases.
Naz. Please don't piggy back off of my questions on nat gas to run another line of bashing. Something in the way Smith apoke about the pipeline in the interview today put a solid question about nat gas production in my head. With that being said, we all have to remember the interview is "free" advertising and time is limited. The focus here is still the production of oil.
Yup. I remember that PR. You have to go back to a quarter report from back in last summer or so. Then multiply all the percentage increases they made. The number was miniscule compared to how much the pipe can handle. I was mostly curious. I havn't heard anything substantial about the pipeline or nat gas production.
Thanks for the link Cakes.
What are your thoughts about their pipeline? He touts it as a hidden gem. It gives them the advantage because they're the only ones in town with a pipeline. However, there is no mention of upcoming contracts with anyone for use.
Im just surprised that it was such little dilution. Huge volume. An onslaught of bew investers. Minimal dilution. I hope they're able to get everything together soon.
Outstanding Shares as of 3/18/2014
1,391,220,381
as of 03/15/2014 = 1,368,493,108 as of 03/08/2014 = 1,324,419,850 as of 03/01/2014 = 1,183,724,591 as of 02/24/2014 = 1,148,516,257 as of 02/17/2014 = 883,787,175 as of 02/10/2014 = 882,765,681 as of 02/03/2014 = 807,808,501 as of 01/27/2014 = 701,162,036 as of 01/20/2014 = 580,526,353 as of 01/13/2014 = 534,676,720 as of 01/06/2014 = 480,854,628 as of 12/23/2013 = 389,288,198 as of 12/02/2013 = 304,647,633 as of 11/18/2013 = 278,223,905 As of 11/6/2013 = 224,282,437
http://petronenergyii.com/
Vol was beautiful. I dont have L2 so I have to take the board on its census that there was a lot of accumulation today. I'm exited for the potential here.
News should be out. S-1 approval or another ammendment. Either way it should be out. Texas ops were due to be completed on the 14th.
I wasnt impressed by the share price today. But vol was rediculous. Just gotta wait and see.
His statement is a direct quote from a pr... Cant knock someone new to this board for being excited about what he's reading.
I'm seeing a lot from 5 days ago as well. Is this another paid pump?
We also already have production. Kind of limited, but it's about 25 bopd. Texas ops should bring us to 35 in a week or so. Then it's off to Oklahoma hopefully with funds from an approved S1. I am very interested in seeing the next quarter report. I dont think its going to be great but I do believe we'll see improvement.
I wish I wasnt so emotionally tied to this stock. I absolutely believe I should be selling on this little pump...
I don't see any mention of PEII in that article. Is this hopefull skeptisism or did I miss something?
You would normally find this under the filings section of the otcmarkets web page. The last ammendment was filed on feb 4. Not to bash but do you think this means we will be waiting another month to find out?
New ammendment out. S-1/A
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9828003
Thank you for posting this. Correct me if I'm wrong. I don't know everything in and out. I aleays understood naked agorting to be horrible for stocks. The market makers can borrow stock not under contract from a broker much the same way a bank lends out capital. The result is an inflated trading volume and supply of shares.
They basically borrow your shares, dump them, cause a bit of panic selling, then accumulate shares for themselves.
Guys... Do you all really get up in the morning to argue about the radio show? If we're going to speculate about anything why don't we start with the positives for this company? Operations in Texas will be bringing us almost 10bopd. Let's be conservative and say we'll be at 30bopd total. When finished we're talking about earnings of $3000 per day. This is a great start.
Okay cool. It sounded like they were just going to dispose and store to me. Thanks for the info
Does saltwater disposal pay well?
I doubt the numbers that have been given us so far would even scratch the surface on those estimates. Lol. When do we start?
Thanks. I was thinking the ex was a filing and I cant begin to explain how confused I was. Goin to sleep. Good night all.
Why is it dated 20 Feb 2013?
I don't often enter into debates or long winded posts on these boards. And I appreciate the fact that you replied. My intent isn't to bash the bashers. I value everyone's opinions here. Everyone sees a different side of the story. The point that I wanted most to understand is even 'negetive' posts here shed positve light and hope. If these boards were silent then I would truly be fearful about this company. A silent board would tell me that no one believed this company had a chance. I can't believe that one single company is worth so much time and energy for nothing.
EroJoyce. Thanks for the article. Any information on the process is of great benefit to everyone invested here.
Swim. You're right. This is an investment and I hope ot pays out. I wish I had the capability to average myself down to the sub pennies. We just have to wait and see what happens.
Naz. We hear you. We have heard you. You might be right. I can give you that. This company might just be a pipeline to pump cash into Floyd's wallet. After realizing this most investors would cut their losses and move on. However, you're here bashing this stock at every opportunity. I could understand if you warned away a few prospects after the july spike then moved on, disapearing from this board. But you're still here. Still at it. Your continued bashing of this stock is tuening into a kind of sad joke. Everytime you do it I have to wonder how many weak hands have you shaken loose from this company?
Folks. I can understand if you're here to make a dime. You have to do what you have to do. Longs. We need to hold strong. S1 and 10K around the corner. Hopefully some real production numberssoon after. Try to accumulate as many shares as you can along with the MM's. it's the only reason I can think of that anyone would continue to bash this long.
I noticed he hasnt aquired any shares from BECC. At least there were no disclosures.
My mind is blown by the way.
Hudson aquired more shares. Up to just over 5 mil now. Not sure if anyone else saw this.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9768564
Thank you! These are all public record and submitted 29 Jan. I hope we here good news from the company.
About the Bpd... I noticed that they used those figures for the disposal/injection of saltwater into the well. Is that pressure to be the total of oil, gas, and the injected saltwater combined?