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Agreed, nice upward projection. With another hurricane here or there or an earthquake or middle east conflict, who knows where we go. Unbelievably low for now.
From the U.S. Energy Information and Administration:
Natural gas working inventories ended July 2012 at an estimated 3.2 trillion cubic feet (Tcf), about 17 percent above the same time last year. EIA expects the Henry Hub natural gas spot price, which averaged $4.00 per million British thermal units (MMBtu) in 2011, to average $2.67 per MMBtu in 2012 and $3.34 per MMBtu in 2013
http://www.eia.gov/forecasts/steo/
They are very cheap. Not at the extreme lows of the last dip of below $2.00 per MCF but still very low. They were at $10 per MCF just four years ago.
From yesterday: http://www.ogj.com/articles/2012/09/market-watch-oil-price-rebounds-gas-price-continues-climbing.html
Running the natural gas and using a middle figure of 300, (of the 250-350 per day) at the current wellhead rate of $2.54 per MCF gives a revenue figure of $362,000 annually based on a 350 day year. Right around the 1 million dollar figure you provided.
Tony used the word "extrapolated" in the text to intimate that it was calculated to equal 24 hours worth of production.
Therefore, it was equal to 24 hours worth of pumping oil.
$71,142.57
10000 0.07 700
10700 0.07 749
11449 0.07 801.43
12250.43 0.07 857.53
13107.96 0.07 917.56
14025.52 0.07 981.79
15007.3 0.07 1050.51
16057.81 0.07 1124.05
17181.86 0.07 1202.73
18384.59 0.07 1286.92
19671.51 0.07 1377.01
21048.52 0.07 1473.4
22521.92 0.07 1576.53
24098.45 0.07 1686.89
25785.34 0.07 1804.97
27590.32 0.07 1931.32
29521.64 0.07 2066.51
31588.15 0.07 2211.17
33799.32 0.07 2365.95
36165.28 0.07 2531.57
38696.84 0.07 2708.78
41405.62 0.07 2898.39
44304.02 0.07 3101.28
47405.30 0.07 3318.37
50723.67 0.07 3550.66
54274.33 0.07 3799.2
58073.53 0.07 4065.15
62138.68 0.07 4349.71
66488.38 0.07 4654.19
71142.57 0.07 4979.98
Don't know how much time has been wasted. You're right, the R/S is a possibility, not the formality some are attempting to mislead others into believing.
IMO we need to have an exact knowledge of what reality here before trying to sell "possibilities" to others.
I agree with your point of view, they intend on changing the A/S to one billion and then initiating the R/S. They are looking at doubling the A/S, not making it 20 times larger in relationship to the current O/S.
FINRA, the MM's self regulatory agency, (yes, they govern themselves), created a rule in May/2011 deemed 6460. The rule states that MM's must show the actual size of bids and asks, unless the order is an AON an All or None transaction, or, if the seller/buyer specifically requested that the true size of the order be hidden.
IMO the action by FINRA hasn't done a thing, it's completely ignored by MM's and FINRA hasn't taken a single action against any MM's for ignoring the rule.
Why don't you read the entire 8K. There will not be an increase until it is voted upon. Shareholders own 65% of the shares vs 35% for management. It is not a foregone conclusion.
TONY MASON, our CEO, thank you Great Britain for lending us this guy:
CEO / Owner at Black Cat Exploration & Production, LLC
CEO at Meridian Petroleum PLC
Investment Advisor at Merrill Lynch
The Parachute Regiment at Military Service
British Military Academy GRAD
http://www.linkedin.com/pub/anthony-j-mason/7/7b7/b05
What are those really green, long pole thingys on your chart?
Thanks.
Nice!!! Thanks for reporting. Loved this line:
"This is the first delivery of several projects “in the pipeline”…"
After being held down for several months, WGAS is like a March hare, springing into action. She's model thin up above. Yikes.
We're the Jefferson's, moving on up!!!
Indeed! It's WGAS's kickoff today. The first of many producing wells. We need Tony Mason Tee-shirts and pom poms!!
Yup, no lack of transparency here. WGAS's Tony Mason is exemplary when it comes to communication. Here's a link to recent and frequent communications from Mr. Mason: http://wenergyinc.com/news/
Know what you own!!! WGAS is NOT a speculative exploratory oil company. We're a DEVELOPMENTAL oil company. WGAS has fields next to or in known, quantifiable oil production areas. It is a matter of punching holes and sucking out the black gold.
Today's PR was domino number one of many and the catalyst for a ramp-up into major production for an OTC firm.
http://www.investopedia.com/terms/d/development-well.asp#axzz253ANktaY
Definition of 'Development Well'
A well drilled in a proven producing area for the production of oil or gas. A development well is drilled to a depth that is likely to be productive, so as to maximize the chances of success. A development well stands in contrast to an exploratory well, which is one that is drilled to find oil or gas in an unproved area. As a result, dry or unsuccessful development wells are rarer than dry exploratory wells.
It is also known as an "exploitation well."
Read more: http://www.investopedia.com/terms/d/development-well.asp#ixzz253AUhsiq
You very funny man xzx!!! "you may want to wait to buy in, so the "forward looking" statements are reality."
Is this a good stock?
It must be the thoughts of cool rain on the parched soils. The cool misty mornings with an afterthought of the summers heat and drought. Brilliant sunsets framing a hearty meal. The cold brew and some light KMAG reading.
I haven't heard that from you, (eased back in chair, curious, focuses intently on chambers52) what have you got to say?
September is our month. It is KMAG's crossing of the Rubicon. It's “show me what you got” time. It's “show and tell”. Everything JR has communicated the past few months points to September as the great reveal and it is upon us.
It is KMAG's most critical month since JR restarted the business, period. All the claims of surging revenue and net income begin coming into focus in September.
It is the month that KMAG's transparency becomes like the big kid stock boards. In September, KMAG reveals the auditor that JR has selected. September is the month that KMAG's swelling revenues become verified. We'll get the verification of a PCAOB approved bean counter. It is the month wherein we can begin attracting a different class of shareholder. We may still be unlisted but we get the legitimate, audited numbers that will remove the stigma of still being quoted on the Pinksheets. It is the preparatory move required for uplisting and it is upon us.
We also get the 2Q's 10Q. Measurable numbers with net income to stack against Q1 to see how fast we're growing. We'll find out what type of discounts our Chinese manufacturers are giving for meeting higher production levels. We'll get guidance for the upcoming Q and perhaps more info on the new Gemini product and client(s).
Along with the 10Q, JR has said he would reveal info on the most talked about subject on the KMAG board and what is now simply referred to as the BB. We get the share “buy back” numbers and exactly who did the buying. This will officially place a number on the shrink of the float and instantly create more value for shareholders.
Based on JR's history, we'll also receive Augusts revenues, another show of transparency of where we are headed. We keep stair stepping up several hundred thousand dollars each month, will the trend hold?
Could a NOBO be planned as additional leverage to clean up the share structure?
Looking forward to an historic month that will do all the above and also rocket the share price into the stratosphere. Good luck to all longs!!!
No volume is extremely excellent. We've had 60,30 and 11 million share days and we're staying in range.
No volume simply means the main sellers are gone and the shares in this area have been mostly absorbed.
Money Flow Index is in the same area where we've began the last several runs. RSI is really reset and our chart looks ready to go.
We're getting close to moving day and with all the news JR has intimated he'll be issuing, we move UP!
If KMAG worries you, move on. There are 10,000 securities you can chose from that can ease your nerves. Best of luck to you. We'll really miss your dynamic DD.
Hey KeepintheFaith, nice to hear from you. Jeff Reid as CEO is proving to be extremely outstanding.
Virtually everything we need to see for KMAG's future success should be revealed in the NEXT MONTH. The share buyback, 10Q for #2, August revs and growth projections and the Auditor.
May KMAG do what we hoped the other one would!
Looks like "Mr. Market" thought KMAG was undervalued in the .012's and took us into the .013's. Thank you Mr. Market!
It's been great "watching and learning".
Totally agree, audited financials will place KMAG in the realm of a whole new group of long term investors. I expect that that bump to be huge.
I'm also looking forward to having a NOBO done, just to watch the cockroaches flee.
Shhhhh, you're supposed to "watch and learn".
Welcome St John and may we hit 400% gains in September to hail your arrival!
KMAG based for several months and finally left the .004 range on August 1 for a run to nearly .019. That is close to a 400% run.
We are now basing in the .012 range, up around 300% for the month and we just offloaded a ton of unsatisfied complainers the last several days.
Look at who is left posting, they are the stalwarts. Anyone wanting back in won't be getting the discount they'd hoped for. What a shame.
The next run to .02 is simply a 60% run from where we sit and we still have the Quarterly upcoming, August revenues to be announced, an Auditor to be PR'd and the share buyback number.
September could easily be another 400% run.
Is it all the share dumping and dilution that has led you to that conclusion? Oh, wait, there isn't any dumping or dilution. You have no reason for stating such an inflammatory statement, right?
I typically think of dilution when seeing VFIN in a stock but having them as an institutional MM on the bid is rather nice. Looks like someone is serious about buying some shares. It also Looks like they're hiding how many shares they want.
I agree with you, Jeff's an "undersell/overdeliver" guy, perfect for a CEO.
Every projection for revenue growth he's provided shareholders has been spot on and he has met his goals. His reputation for performing exactly what he has projected is impeccable, why mess up his record with hype.
Rarely if ever will anyone see a PINKIE CEO do what he has done and what he is doing. Now some want him changed, unbelievable.
Thanks for providing additional feedback on the S1 PR. Steve's been terrific at returning calls and emails, apparently even when on vacation. Despite the struggles of the PPS, the company continues to do very well both in earnings and leadership.
Just received a confirming email from Steve Ross. He verified exactly what you've posted WB.
Quote:"The SEC simply requested that we withdraw the original S1 from 2010." The uplist is still on schedule.
Nice call Bake!!!
Read this, it should answer your additional questions:
sunspotter
Wednesday, August 22, 2012 3:33:15 PM
Re: njy113 post# 7505
Post # of 7512
Wasn't the pretext for this offering to garner shareholders for an uplisting - to increase the O/S to meet listing metrics?
That's what someone tried to tell me, anyway.
I assume that means the so-called uplisting is once again off the table - just as the previous plan was for some strange reason abandoned.
Here's a link the original document. It wasn't filed in 2012 for your information. LOL pretty funny stuff.
http://www.sec.gov/Archives/edgar/data/1296286/000120445910003163/form8a12b.htm
So, you were wrong.......again. Looks like you've established a pattern.