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I just don't see FS selling this at this point. It's not valuable enough until FS confirms cash flow from oil sales volume. Then as share price rises, that's a possibility but even then, I doubt it any time soon. IMO
Todd, I said it before and I will say it again. The ONLY way this company is bought out by another entity is if someone BUYS a majority of FS's PREFERRED SHARES. You can own all 25 billion common shares (if issued) and still only own 49% of the company. That was spelled out by FS months ago in SEC filed documents.
So 8B shares turns into less than 11K shares @ $150/share... yeah, that is just ludicrous. I can see the possibility of 100:1 or maybe even 1000:1 RS but it all depends where this stock goes over the short term. Next 30 Days will tell volumes IMO.
Yeah, NO.
Guess we will all see where it goes Monday and beyond. Especially if NITE backs off the ASK a ways and gives buyers some breathing room.
All well and good BUT what matters to me is "will selling oil at the levels PEII is capable of now, not then, be enough to bring the share price up" and make us all some money back. If memory serves, 30M common shares was the payment at the then higher PPS for the stake in the wells. 30M shares is worth about $6K right now so there was no actual cash paid out. IMO
Knight if this was just a total scam, and I have dealt with my fair share of those, FS would NOT have spent the time, money and effort to bring TX into compliance and drill a pressurization well in OK. Granted, I am far from convinced that there isn't some shady gray area stuff going on here BUT after a year of NO OIL SALES from TX we now are pumping and that brings in revenue. With stimulation this won't be a 8-10 BOD bunch of wells for real long. The S-1 is gone and toxic financing went with it. The more oil that pumps out of the ground then LESS A/S's become O/S's and this may cap out at 15B O/S's if production comes up nicely. We also just saw the likely hood of a R/S ratchet back some too. It may happen still but I don't think that will be likely as soon as otherwise. IMO
Well actually that is 34 well field leases, not 1, 5 are admittedly plugged BUT that is 29 functional wells able to pump that are in P-5 specs and ACTIVE to pump right now. Depending on pressurization to come could be a BIG win. IMO
TEXAS is ready to go ONLINE now! See http://webapps2.rrc.state.tx.us/EWA/inactiveWellStatusQueryAction.do?pager.pageSize=10&pager.offset=0&methodToCall=search&searchArgs.paramValue=|6=660821|8=%24323%2C732.00|9=7|10=19|11=34|106=660821|107=PETRON+ENERGY%2C+INC.&rrcActionMan=H4sIAAAAAAAAAL1Ry2rDMBD8GvcSEFrJsZ3DHoxxSy9u65iGYnJQbZEEHNtIch-gj-86paWkOec2zM6OZkceOEfhgQPCjTFN2rjD0JeNaWu-xRP_rl_VOFrBaMysU04z98EmG8g04aQQGIjbfJMSlDM89IpM3vRGd92a5JN9mrT5_HZm7UC6EI_a7Ye2GjLVdUQs0Wg3mb4a1lqZZk9UgvxfoNqepqnZWTYqo47Pqps05YwwingiwCeUIJRCBiKLpWCc-xXG5Iaw8gAoQ8K_YuAxPuZV-VAs8iIv715oa3FfZOzsYbhqE_angQhHtdPmz6UXa4Ftfa6b89KvCgTu5Xx0OKMlhlQUXNi_Uq1fkyhE7G0CAAA . No more delinquent status, now ACTICE status and ALL 29 wells are in compliance! About damn time! PUMPING oil Monday! IMO
With 466M on the ASK and only 46M left on the BID, that says it all. Even the one tick flippers aren't moving their shares of PEII and hopefully they get stuck with every one of them for manipulating this stock as they have, serves them right for never backing off the sell side pressure that took us all down with them and held us here. IMO
The problem with share holders here is they think they have some control over the direction of this company (like a normal company) but don't and are just along for the FS ride. It's like being on a PEII roller coaster and FS is at the switch; we go through the ups (with exuberant anticipation) and downs (screaming all the way) all at HIS control and when he wants the ride to end, it damn well will and we can scream again about wanting our money back because the ride sucked but won't get a dime. Silly us, we will likely look for another ride to get on too, think I'll try the tea cup ride next myself. IMO
Buying might be drying up soon if production doesn't start and entities like NITE, CSTI, ETRF and CDEL are manipulating this stock entirely. It will totally backfire on them though if all the millions upon millions of shares they have bought at BID can't be sold later at ASK due to lack of interest. Since they have invested hundreds of thousands of $'s in buying PEII shares, they either know something we don't about this stock or are just into risky one tick flipping, probably the later of the two. If they went away or backed off, then this stock could grow slowly in value if oil starts pumping and selling. Seems like NO ONE at PEII is really interested in growing this company into a real oil company. It's a shame this might just all be a total sham of an investment. FS should go back to being a Wal-Mart greeter if he screws this up any worse.IMO
Without dreams the world is boring...
Oh, BTW I'm calling it, this is the bottom! (only because you can't trade this any lower). Who says you can't call a bottom on a stock!
NITE, VNDM, CDEL, ERTF and CSTI all had gigantic bids today, NITE had 1.2B shares at BID at one time and I assume they bought that and more by the sounds of it. Now if you just bought a BILLION or more shares of a company, what would you do next, PUMP the crap out of that company or do anything to get the share price to go up (or you get stuck with over a billion shares that at best you can only break even on) and stay OFF the ASK for a while so the share price rises then dump your BILLION or so shares and make a crap load of cash! NITE has to betting on NO R/S or they take a big loss. Look for some news to come out that lifts this stock soon. IMO
If NITE, VNDM, CDEL, ERTF and CSTI really wanted to make big money on this little stock they would be smart to come off the ASK and let the stock price rise a few ticks and then massively sell again. Guess they are not smart enough to see that would make them way more money and by proxy us too, keeping interest alive in the stock. Of course FS is probably NITE or tied in with NITE so don't see that happening any time soon. IMO
Really folks, FS is in this to do what is best for FS and NO ONE else. If something he does also benefits us by shear coincidence then great for us but really, it's ALL about FS with PEII. Look at it from that perspective and you will get the true picture and don't drink the BS Koolaid out there that some are spouting. BE REALISTIC about this stock. Do I think at some point this stock MAY go back up, yes, or I would not have bought into it either BUT more likely pigs will learn how to fly first. Have a good day folks. IMO
Not unless someone pays him big time to do that, better off (for FS) if he just sells his controlling interest outright for whopping amounts of cash for the preferred shares and a piddling amount for the common shares that are left. IMO
Until NITE, VNDM, CDEL, ERTF and CSTI quit playing the one tick wonder game buying mass amounts of shares at BID and selling to other investors (suckers) at .0002 on the ASK, this stock will go NO WHERE quickly. An $80,000 buy at the ASK or above would be the ONLY way this moves off the 2's back into the 3's and that won't happen until there is OIL revenue coming and plenty of it, IMO. Till then everyone can speculate all you want, this will just sit here.
Apparently some here just don't get it. The ONLY way any entity OTHER than FS gets control of this company is to BUY the 10M PREFERRED SHARES or a substantial portion there of, from FS DIRECTLY. If some entity buys up EVERY OS or AS COMMON share of PEII, the MAXIMUM ownership they could have is 49%, still leaving FS in charge. FS spelled this out in past SEC filings.
FS has something up his sleeve but doubt it will be to OUR (share holders) benefit. It WILL be to PEII and FS benefit though; I'm sure of that. IMO
Nothing FS does with PEII has made sense lately or for the last year. If he concentrated on production and sales of product (like any legitimate business would), then he and us by proxy, would make a lot more money then the pittance he is taking in selling shares at these prices. A RS is only a band-aid, if it happens and without production as promised will kill PEII. Production and sales is the ONLY hope for PEII, IMO.
That $120K probably made PEII a MILLION$$$$. How many here kept saying , "there is only one reason why an insider BUYS shares in a company" they expect the share price to rise and make money. There is a new reason now, to FOOL investors into BELIEVING that's the case to sell shares to many more then those that would have invested otherwise. That $120K spent was well worth it for FS to keep pumping investors. We got played like a fiddle or more like a kazoo. That said, I hope I am entirely wrong and all will turn up roses but I doubt it. IMO
The S-1 was crucial for PEII, IT SUCKERED US ALL TO BUY THIS CRAP! That's how FS planned on making his money all along and still is, until this goes to NO BID! Then Petron Energy III starts with a new bunch of suckers that believe the pictures and hype on the website (with a new coat of paint) mean FULL oil tanks. Money in the bank, right. NO, wrong, empty tanks with broken pumps sitting idle and the ones that pump get less out of the ground then an oil change on my car. IMO
I wish I researched Texas PAST production rates on the wells PEII owns there before. I think ALL of the 29 producible (out of 34 total- 5 are plugged) wells produced about 600 Barrels of oil "A YEAR" in 2012 and less then half that in 2013 until shut down last August. Not a drop has flowed since then out of Texas. The cost to bring them back on line, ie: cleanup and Texas RRC costs of $323,723.00 is more then these wells have produced in MANY years total! A typical MONTHLY production on the fields there was about 0-70 Barrels A MONTH! They are going to have to stimulate the crap out of those wells to get even the 8-10BOD when they were getting that in a month before. Oklahoma better have some oil in the wells Petron Energy II has there because that's the only hope for this thing that I can see. Otherwise we all invested in snowballs in Alaska, IMO.
So if you were FS and you saw your common shares reduced to ashes by a toxic S-1 agreement constantly killing PEIIs share price and locking it in a range of .0002-.0003 then what would you do to save the company from going down faster then a $2 "you know what"? Well, if FS actually has oil to sell and that looks to be enough to support the company, file an RW with the SEC to get out from under the financing agreement (yeah, did that). Get oil sales happening ASAP and hope you pump a crap load of oil FAST! That alone will start to attract many investors in PEII, then STOP or phase down the damn dilution ASAP; 8.3B to 8.5B shares OS is quite enough thank you. Killing the S-1 could be a GREAT thing for PEII's share holders, IF and I say IF the oil is there to support the company from here onwards. A RS might be in the cards too but don't see anymore than 10:1 to 100:1 range, if at all but ONLY if oil starts pumping at an aggressive rate. IMO.
I could be wrong, it may be Texas I am thinking of. It's hard to keep all these non-productive wells sorted out some times. All I see is thousands of dollars of my investment going up in smoke at this point and this isn't even a Marijuana stock!
FS said he was expecting only 10-15BOD initially out of the wells and implied as a "TOTAL" (until stimulation takes effect) in the last RADIO show propaganda message if memory serves me correctly.
I'd worry a lot more then a little. If PEII is sitting on 25K BBl's of oil (as rumored) that would be approx. $2,650,000 sitting there that could REPLACE the S1 financing and get more oil pumping. Doubt that's true or WHY would PEII's lawyers be worried about possibly needing a reverse split to get back on the OTC- Board. If there was a 100:1 reverse split then there would be approx. 72,000,000 shares OS @ $0.03/ share. That would get it qualified to go back on the OTC-BB market again and attract more buyers of the stock. HOWEVER, then CPUS will jump in and dump shares onto the market and drag this stock back down to the sub-pennies again so that won't really help PEII. Better if they can sell oil and turn the CPUS spigot OFF, IMO.
Ahhh, another week in paradise... FS still quietly hoping oil jumps out of the ground and into tanker trucks all by itself at this point. The weather was (and has been) OK in OK this week for the most part but still no oil pumping that I can tell. Hmmmm, me thinks I'm smelling something fishy here... other than my Tuna sandwich. Enough with the .001 to .0001 to .00001 to .0000000! Pump oil FLOYD and DO what you say you are doing!
Just another day of hurry up and wait. Wait for what, not even sure I know anymore. Basically, waiting for FS to actually DO what he says he will. The OK weather has not been that bad that they can't complete work and pump oil by now out of there. Looking for some production numbers or a solid indication that oil IS pumping from Petron II's wells. It's getting a bit ridiculous now. IMO
Another day of no upward movement. Just another day of waiting for something to happen. Looked like an announcement was coming on the radio show but nope that's not happening; so all we can hope for is that we stay out of the .0001's... I think a monkey will fly out of my butt if we see .0004's here any time soon. IMO
The only way this stock moves up is if NITE, ETRF and CDEL all move higher off the ASK. Till then we are stuck in a .0002 to .0003 range that they are keeping this stock in. We need major news and major buy pressure to move us up from here and the games by NITE and others to stop. NITE has 392M on the BID and 50M on the ASK. It's doing the one tick flip and making 50% profit on every share it sells. The 50 million keeps it so it can't advance above .0003 and when enough .0003's get bought and it starts getting low it just dumps in a few million more that it bought at the .0002's. Rinse and repeat! IMO
They do have buyers for the oil when it comes out. The information was buried in the Texas RC data for the Texas wells, can't give a direct link but on that site. Petrons operator # is 660821 if you want to explore the site like I did. Some of the oil wells in OK are near paved roads with collection tanks, checked on Goggle earth and 2014 pictures are there. It is easy for a crude oil transport tanker to pull in and fill up there. Oil reserve geology reports cost money to get done and even though PEII has a geologist they use I don't know much about him and haven't seen any of his reports posted. All I can say is "IF" oil starts pumping in any real quantity, some one will be there to buy it. IMO
There is "ZERO" possibility of a buy out. Even if someone came along with enough to buy every share of COMMON stock, they would still only own, at most, a 49% ownership of the company and NOT controlling interest. FS owns the 10M PREFERRED shares that give him 51% control over the company, NO MATTER WHAT!
STOP BUYING PEII @ .0003 PEOPLE and DO NOT sell @ .0002 and watch the ASK move UP. Sounds WRONG but it's not. NITE and others are manipulating this stock to keep it in this .0002 to .0003 range by massively buying in the .0002's and selling in the .0003's to others. If no one buys what they are offering in the .0003's they can't make money and will have to force the price UP, not down BECAUSE they are the ones that would be BUYING @ .0002 and would take a 33% loss if they sold to themselves. Instead they push the price up where they make a 100% profit on shares they bought at .0002 and sold @ .0004 or more. IMO
Until NITE, CSTI and ETRF stops their little buy/sell games they have going on, this stock will just sit here, FOREVER, as long as other come in and buy @ .0003! My advice, STOP BUYING PEII @ .0003 people and force NITE and others to end their manipulation and move their ASK up. IMO
Exactly, until someone comes in with a large buy at the ask and wipes out the ASK entirely with one shot, this will never move up and NITE will just sit here raking in the 50% gains all day long from small investors buying in the 3's. Nice little money maker they have there...
This is interesting, NITE has 447.2M on the BID @ .0002 and 56.6M on the ASK @ .0003, so looks like it want to buy and sell to itself. WTF? Looks like NITE is running the share price show right now. So it's buying any shares that come available to it at .0002 and selling them at a 50% profit @ .0003 to anyone who will buy them, nice little setup for them but sucks for the rest of us because the share price can't move up from here with this manipulation.
We don't know how large the lease is or how much it cost per acre. Some of these spent well leases go relatively cheap. It's on a guys land who is probably a farmer looking to make a few extra bucks off a dead well and usually its a set dollar amount plus royalties if the well produces. The set dollar amount is usually in the $50-$300/ acre range and royalty is from zero to 15% from the research I did. Buying up old leases on the cheap is not a bad idea "IF" the wells can be brought back to production levels.