I know it's not signed because they don't have the money. Common sense guys. If it were signed Volk would be parading it around like a topless dancer on a Carnival float. VM would be done deal. He'd be announcing the VM debentures have been paid. You don't need inside info for this.

I have, more than you know. I'm just trying to warn you guys. What if what I'm saying is true... Hedge your bets here...

Has the loan closed? No it has not closed. You can't drill with a commitment letter can you? Did IR tell you the loan closing date? Why not? I'll tell you, because there isn't one. When was this commitment letter written? I'll bet you it was more than 6 months ago...

You are correct Sir and when did the loan closing happen? Oh that's right it didn't happen... This basically a letter of intent until it has been signed. If it were signed they have the money!

If it were signed Volk would be $8.5MM richer.... The deal HAS NOT been closed. You know this. A signed letter would be a material event. No Montecito settlement or acknowledgment of litigation has even been made public other than digging through the sec filings and talking with the Orleans Parish county clerk. Volk is hiding something(s).

By "approved" you mean it's been signed? Nope. Then it's a pre-approval. How long is it a "commitment" when it has not been signed in over 6-8months? What possibly could be the hold up?

You must be wondering why it was locked in the first place. Can't be a very good feeling, you know, with all the uncertainty... VM litigation and all. What the letter was all just hype to make up for the I1 loss and BOD departure... It must be bugging you guys... They've dangled the preapproved 8.5 million for the past 6 months... Why release it right after the BOD split?

It will happen, day flippers and MM's will be sure of it!

If this breaks $.02 it will be a mass exodus! Don't be greedy guys! Reload at the next drop or lower!

I hope you sold some at .03+ because this is going down . Did they let shareholders know the current assets yet? That's pretty vital to new shareholders don't ya think? What are they hiding? How about those phones , are they back on yet? IR still stonewalling? Montecito litigation settled yet? Uggh, sooo many questions swirling!!!!

Did anyone call IR for the password to view the company's current assets?

Sure he is...

Volk is hiding the "Current Assets" that can't be good. Why password protection?

What? The phones are disconnected? :) STILL!!!! Seems that doesn't bother anyone anymore... Nor does it bother anyone how IR has lied through their teeth during the silence since Jan 7th. Truth is Mason left because Volk couldn't pay Tony's contract for the I1 well. He defaulted on the Black Cat acquisition. VM funding letter is just a smokescreen. The rest of the board left because the toxic funding became too much to overcome, VM became too speculative for them, too litigious, questionable ethics came into play as well. The BOD didn't want to be associated with Volk anymore due their own personal responsibilities and morals. In the next Q report look for the number shares allocated to a certain individual ahead of BOPD production benchmarks. You'll see what I'm saying is true, all of it.

That's what I'm hearing.

Thanks Moleculard, I'm just posting what I found out with contact information for others to verify. I obviously cannot post a link to my email. I can only repeat what was written and the email of ther person Belinda Lassalle if anyone wanted to verify. I have been in touch with people asking about the litigation. This or next week is what I heard. That can always change for one reason or another. Keep in mind that if anyone else wanted to reach out to teh former BOD members they can do so equally. Their emails are all listed in the SEC filings surrounding the recent resignations. You can find all of the BOD members resignation letters here. Do your DD, this is making me too nervous to be long here anymore. I will play the play however. I also despise manipulation in all its forms, I will not make $hit up or BS my fellow posters/board members. I do have a genuine concern for CEO's trying to take advantage of us.

http://www.sec.gov/Archives/edgar/data/1342643/000109690613000147/0001096906-13-000147-index.htm

Good POV

Watch for profit taking especially from the Debt holders who recently converted that are now up 200-300%!

They've claimed 8.5MM in pre-approved funding for the last two quarters. They revealed a commitment letter on Friday. When was this letter issued? Yes, a commitment has been made but what is it contingent upon? That's right , probably the Montecito litigation.

True, most longs are all still down a ton!

Yes, and nothing has happened with VM. What is the date of this letter? The $8.5MM pre approval had been around for the last 2quarterly reports. It's dangled out there after the BOD is canned/resigned and we lose our only producing asset? Why not announce a deal brokered with Montecito? Feels like a smokescreen and a lot of hype. I wish everyone the best but be careful.

Take your profits guys and reload for the next run after the drop. We're up over 300%!

Every stock I've ever owned dropped 50% or more the day or two after a big run like this. Watch it happen Monday or Tuesday. Lots of people panic bought on Friday now that they've had to read the past Q reports and PR's they may have buyers remorse. Hype may drive this up some more and people will want to catch a ride but I'm thinking they'll jump off pretty quick at the first sign of trouble.

Watch for a DBAR letter written the same way and this bounces again... Even though we've been involved with DBAR for a while what's going on with this also? New traders here have had all weekend to do their homework. The smart ones will see the same thing and try to take advantage here. Everyone knows a huge drop is coming.

That makes sense but with so many potentially great things happening right around the corner I have to wonder why. It just makes me curious & cautious. I may get more but I'm on the fence.

Cute but don't you wonder why? Left or fired, I'd like to know why.

WGAS is currently $14.9 million in the hole?

You still got to wonder why it all fell through... Why did Mason leave anyway? If things were going so "well" why did Mason and BOD members leave?

Q Report soon!(hopefully!)

Any capitol investment group does their DD before lending that much money. I would assume they've spoken if not possibly brokered a deal...

I miss spelled her name , my apologies Belinda Lassalle. Two ll's at the end of her last name.

Correction , no reason to think Volk won't release a similar letter about DBAR.

I've posted my email correspondence with Belinda.

Like I said, they had to do something to counter the Mason/I1 loss. They've had this lender for a while but never a mention of it other than the Q reports. New traders here are psyched about the prospects here but unaware of all the BS we went through over the last year. Volk could have released a letter like this months ago. There's no reason to think a similar letter might come out about DBar soon. With all the attention this is getting that's just more fuel for the fire... We'll see how it shapes up.

Yeah, I may have to tie on my running shoes... Glad I didn't sell everything...

Reading the PR, they only have a letter... $3.5MM is available immediately upon the loan closing.

Have you been in touch with the County Clerk of Orleans Parish? No? Well I have and this is not over. Montecito vs. Paxton due back in court next week! Judge may sink this ship.

Every pump drops 50%. VM litigation still happening. This was a fluff PR, they could have said this last year. Everything is contingent upon a favorable court ruling. If it goes bad in court there will be no VM because there will be no loan.

Still down but I like the way this trades. This PR is fluff to make up for losing the Mason and the I1 well. No closing date is set for VM financing, litigation for VM still looms. Financing for VM depends solely on a favorable ruling. They've had this 8.5 million for months now and never released a PR like this until now to offset the I1 loss.

Hahaha, nice... I'm out, I bought a bunch at .005 and just sold it. I'm still down a little but having learned a ton here, I will be flipping this for the next year. I plan on buying back in the .00's , "shortly"!