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jmap. . .you must have posted that whilst I was putting together my thoughts on "no news." Weird. Anyway, good to see we have news. . .and satisfactory, at that. Perhaps I'll post another "where is the news?" message in another week or so.
Peace,
M&M Man
(PR NEWSWIRE) Hartcourt Completes Acquisition of Fifty-One Percent of Elephan
Hartcourt Completes Acquisition of Fifty-One Percent of Elephant Talk
Hong Kong Based Elephant Talk is a Leading International Long Distance Telecom
Service Provider
LOS ANGELES, May 17 /PRNewswire/ -- The Hartcourt Companies, Inc.
(OTC Bulletin Board: HRCT, Frankfurt: HCT), www.hartcourt.com, announced today
that the company has completed the purchase of fifty-one percent of Elephant
Talk. Details of the transaction will be disclosed on form 8K, which the
Company will file shortly.
Mr. Russelle Choi, Chairman and CEO of Elephant Talk, said, "We are happy
to be a member of the Hartcourt Group. Through our dedicated effort and
excellent customer service, Elephant Talk is now viewed as a premium brand
name company throughout Hong Kong and parts of China. With the support of
Hartcourt, we intend to spread our wings and target a much larger portion of
the growing Asian market."
Hartcourt Chairman, Dr. Alan V. Phan, commented: "Upon completion of this
acquisition, we will be able to consolidate Elephant Talk's revenue onto
Hartcourt's balance sheet. We are looking forward to assisting Elephant Talk
in developing an improved profit model and significant expansion of its
telecom services within the fastest growing and most profitable telecom market
in the world."
About Elephant Talk
Based in Hong Kong, Elephant Talk is one of the leading international
long-distance service providers to Hong Kong and portions of China.
Established in 1995, it holds a number of licenses including US FCC 214, HK
ETS and ISP PNETS allowing it to provide voice, data transmission like IDD,
pre-paid calling card and ISP services. Its customers include major telecom
carriers based in the U.S. and Hong Kong.
Additional information regarding Elephant Talk can be found at
www.elephanttalk.com.
About Hartcourt
The Hartcourt Companies is a holding and development company that is
building a network of Internet and telecommunication service companies in The
People's Republic of China, including Hong Kong, in partnership with Chinese
entrepreneurs as well as Chinese government-owned entities. Hartcourt's
business goal over the next three years is to benefit from a series of IPOs or
spin-offs of its core business holdings and investments in Greater China.
Additional information regarding Hartcourt can be found at
www.hartcourt.com.
Forward-looking statements
Certain statements in this news release may constitute "forward looking"
statements within the meaning of Section 21E of the Securities Exchange Act of
1934. Such forward looking statements involve risks, uncertainties and other
factors, which may cause the actual results, performance or achievement
expressed or implied by such forward looking statements to differ materially
from the forward looking statements.
MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X58735881
SOURCE Hartcourt Companies, Inc.
-0- 05/17/2001
/CONTACT: Jack Westfield, Senior Vice President, Corporate Finance of The
Hartcourt Companies, Inc., 310-410-7290, ext. 210, JWestfield@Hartcourt.com/
/Web site: http://www.hartcourt.com/
(HRCT)
CO: Hartcourt Companies, Inc.; Elephant Talk
ST: California, China, Hong Kong
IN: TLS MLM OTC
SU: TNM
Amazing. . .no sooner than I post about wanting to hear iformation, HRCT releases a PR announcing they have COMPLETED a 51% position in Elephant Talk. Good. Now. . .what's next?
Peace,
Mark
The lack of "news" from HRCT is quite interesting. Apparently, the company has not closed any significant deals. It would be nice to gain a more complete understanding of what is going on with StreamingAsia.com. I know, I know. . .Alan will be back on Friday. I wonder where Dr. Yang is?
Peace,
M&M Man
haegar ~~
Helmut ~~
I'm not sure what to think about the SA IPO. In my mind, there is no logical reason as to why it didn't happen unless HRCT was just simply "not" prepared. Anyway. . .I'm not really looking for any big events to come out of HRCTLand. I've given up on that hope. However, I'm hoping it will be a winning OTC BB stock issue in the next year or two. At least going back to 1.50 or 2.00 per share would be nice. Based on past performance from the company, I do not see the value in SA and SB taking us much higher. We'll see. Perhaps someone will come onboard that can assist in getting some revenues generated and leading the company towards profitability. Nonetheless. . .the tech world goes on. . .and on. . .and on.
Peace, my friend. Keep in touch!
M&M Man
jmap ~~ I see your concern as a "synergistic" matter. However, if anyone could come close to giving an absolute answer to the question you posed. . .we'd once and for all know which came first. . .the chicken or the egg LOL!
Peace,
M&M Man
NDSMarket. . .I hear you: "Mr. Tang Wing On was formally transferred to Hartcourt, and, therefore, Sinobull
became a wholly-owned subsidiary of Hartcourt effective April 2, 2001.
Hartcourt, Sinobull and Mr. Tang have confirmed that Hartcourt had advanced
funds to Sinobull for various acquisitions made by Sinobull since its formation.
Since the acquisition of Sinobull was completed on April 2, 2001, the financial
results of Sinobull will be consolidated with Hartcourt starting the second
quarter of 2001."
Other longs: Does anyone know what Sinobull is bringing in at the present date and time? Or a close estimate? Some of you that went to China may have an idea. Care to throw out a few numbers (not that we're playing baseball or anything, but at least we can fantasize a bit LOL).
Peace,
M&M Man
joespringer. . .
The questions you pose are the primary reason why HRCT is having a difficult time getting a substantial following. I, too, am holding Enova shares. . .worth "0" for what seems to be, forever. I'd really rather see my Enova shares have a value to them before HRCT spins off another "0" value stock (that will eventually be traded?). HRCT needs to establish the fact that they can deliver. . .and that means, to the longs that have held this stock for years ~~ literally.
I still believe HRCT is worth more than many OTC BB stock issues. Nonetheless, it's going to be a long voyage for HRCT to prove they are worth leaving the OTC BB. The track record needs improving. Fast. First it was that Enova shares would be trading 6 months after issuance. Then, it was that HRCT would list on the Nasdaq. Then, HRCT would list on the HKMainboard or the GEM (which was my understanding why the stock split two for one). . .then it was the S/A would IPO on the GEM. . .now, it appears S/A will either merge or list on the OTC BB. Is that what people call success on the OTC BB?
Anyway. . .Still holding . . .enough for me.
Peace,
M&M Man
Helmut. . .believe it or not, even though the United States has a very small population (compared to the rest of the world), the US uses most of the world's natural resources. We are incurring shortages in natural gas and other forms of energy. Blackouts are taking place in California. . .and natural gas prices are soaring in the midwest and on the east coast. Therefore, there is a significant interest in companies that provide these resources to the populace. At any rate. . .I'm hoping to see continued development with CHAG. I still believe that CHAG in the penny stock range, is worth their spit. Lets hope they prove me right.
Peace. . .and great hearing from you!
M&M Man
Scott Turban files to sell 650,000 shares of HRCT. That's a pretty big position. Does anyone know who this person is?
Peace,
M&M Man
PS: I just picked the information up from CSFBDirect
Oil and Gas Company Chancellor Group, Inc. -- CHAG -- Announces Approval & Funding for Its First Kansas Infill Oil Well
BOSTON--(BUSINESS WIRE)--May 15, 2001--Oil and Natural Gas company Chancellor Group Inc. (OTC: CHAG - news) announced today that the company has received funding and state approval to begin drilling their first infill oil well.
Chancellor Group is very pleased to announce that the company has filed and received approval from the state of Kansas to begin the drilling of the first infill oil well on their Shinkle Field property. The company has also secured financing for the first infill well, and is in the process of scheduling and moving drilling rigs to the Shinkle Oil Field.
The new infill well, once drilled, is forecasted to produce a minimum of 150 barrels a day (4,500 barrels per month), which is in addition to the existing 8 oil wells recently brought online on the Shinkle Field property. The new infill well will also help increase pressure in the oil lines, which in turn will help in the filling process of our storage tanks for pick-ups.
The first infill well will be drilled down to the granite wash at a depth of 2,800 feet, and will give the company a very good indication of existing natural gas and coal methane levels, and will test all the known oil producing formations.
The Company also announced it would file its quarterly report on Form 10QSB with the SEC by the end of this week.
About Chancellor Group
Chancellor Group, Inc. is an emerging small cap energy company involved in oil and natural gas production, and currently has oil and gas properties in Kansas, Texas, and Kentucky with substantial proved recoverable reserves. The company currently has approximately 29.7 million shares of primary common stock issued and outstanding, and 38 million shares fully diluted.
Chancellor Group web site: http://www.chancellorgroupinc.com
Investor Research (real audio): http://www.wallstreetnewscast.com/chag.html
Chancellor Group Yahoo Club: http://www.yahoo.com/clubs/chancellorgroup
Corporate profile also at http://www.oiland gasprofiles.com
http://www.wallstreetdailypress.com
http://www.ceocast.com
Certain information included in this communication contains statements that are forward looking, such as statements relating to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts. These forward looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual operations or results to differ materially from those anticipated.
CONTACT:
Chancellor Group, Inc.
Ashraf Khan, Chairman / CEO
ceo@chancellorgroupinc.com
OR
Wall Street Newscast
Broker/Investment contact
Tom Bustamante, 212/233-9301
tom@wallstreetnewscast.net
KEYWORD: MASSACHUSETTS
Tin-berrygood ~~
The right time was when the Nasdaq bottomed and everyone was predicting the end of the world. Many stop-losses went off (including several of mine). The fact that our HRCT is not IPOing SA is very suspicious. I wonder if it's from lack of interest from HRCT shareholders. . .from Yuanta yawning at the market (typical idiots running an underwriting program?) or if HRCT was actually prepared. This leads me to reflect on the NASD application that was suddenly withdrawn from the market. Is this type of thing now a natural defense system set up by HRCT?
Anyway. . .still focusing on the potential in China. With all of the "opportunous times" being chanted in mantra sessions around the world (for the GEM and secondary markets) it leads me to wonder what in the h. . .e. . .double-toothpick is going on with HRCT. Personally, I'm still of the opinion that they grew too fast and were understaffed for the hasty goals they set for their organization. Perhaps they have learned to slow down and grow at the pace required by successful organizations? I'm keeping the faith that this much is true. . .the last sentence has finally been HEARD by HRCT execs.
Peace,
M&M Man
Highlights:
Overview of company: Market cap of around 14 million dollars. Purpose is to bring into production small oil and natural gas production.
How large is the property in Kansas: A shade over 1,000 acres. 100% working interest, 85 to 87% net revenue interest in the property.
Who currently is in the vacinity of the property: Chag is producing oil right now. Approximately 43 wells on the property. Several have been idle for a few years.
Seismic results: In the Kansas area there isn't much seismic information available. Primarily from the 43 wells. The field is becoming more of a "tour" now. Bill Stinson states they want to try and maximize the infill wells at the present time. There is the potential of a 3-D survey (process) but is that going to be cost beneficial? Perhaps it is best to just drill 3-4 wells rather than shoot the survey.
Size of wells: At least 3-4 reservoirs have associated gas. Their are 8 or 9 sizeable coal seams. Their is also associated methane gas. Their is a special piece of equipment lined up that will test each well. . .and from there decisions can be made on what kind of reserves CHAG has. Within the next year or two, Bill Stinson states they are confident the gas will outperform the oil.
What steps is CHAG taking to increase the number of wells? First load of oil is slated to go out tonight (according to Bill Stinson). The infill wells are slated to produce 150 to 200 barrels of oil per day. One of the things a lot of people haven't done in the area are to "comb" the production. Most of the wells have been "squirrel" type wells. Some arbuckles. The big bang for the buck according to Stinson will be on the "infill" wells. CHAG also plans on doing a water-fill for the squirrel horizons. The "shallow squirrel" horizons. Things are being looked at from a "cost/benefit" perspective. Infill wells . . .are coming next. Water-flood . . .s/p infill wells. And at the same time. . .the natural gas will be monitored. The initial infill will be slated to go to the "basement." Stinson states that "for a fact, there are 7 reservoirs that will produce both gas and oil." He also states that there are approximately 5 to 6 million barrels of oil. That doesn't even add in a lot of the lower reservoirs.
Capital concerns: Asraf: Remedial work is covered. First infill will is covered. The cashflow from the initial wells should produce revenues to keep the interest in the property moving forward. Stinson states they are confident they can produce the "arbuckle" on the property (to a deeper horizon). The arbuckle is projected to produce about 250 barrels per day. The squirrel formation is to produce about 75 barrels per day.
Gas supplies: Need to find out what they have first. . .then begin making the plans. After the drilling of 3 wells. . .the gas potential should be figured out.
Other properties: TX, KY. KY. . .nothing at the moment. TX. . .contingent on what happens in KS. This is a 3-6 month time horizon. Priority is to get something started "sooner" than "later." But it all comes down to timing (Shane Rodgers).
Goals: Increasing cashflow. . .until KS if fully developed and cashflow is optimal. Then, cashflow will roll into to the TX property. Other properties are also being considered (depending on cashflow).
Some have noted that revenues could exceed 58 million dollars (stated from the interviewer.
** Note, this is a "quick" summary of the information on the interview. Please listen to the interview to verify all information on the Internet. I'm just an investor trying to help others who may not have access to the media recorded.
Peace,
M&M Man
INTERVIEW WITH DIRECTORS chancellor_chag
(40/M/Los Angeles, CA.) 5/14/01 5:59 pm
ASHRAF KHAN, WILLIAM H. STINSON, AND SHANE RODGERS TODAY RECORDED A DETAILED INTERVIEW, PERTAINING ESPECIALLY TO KANSAS AND TO THE COMPANY'S PROSPECTS IN GENERAL WITH CEOCAST OF NEW YORK, A BUSINESS WEEK AFFILIATE. YOU CAN HEAR THIS INTERVIEW AT http://www.ceocast.com .
SOMETHING NOT MENTIONED IN THE INTERVIEW, BUT CERTAINLY OF INTEREST TO ALL CHANCELLOR SHAREHOLDERS, IS THAT THE HISTORICAL RECORDS IN THE KANSAS GEOLOGICAL SURVEY SHOW CUMULATIVE OIL PRODUCTION IN GREENWOOD COUNTY AND THE SURROUNDING COUNTIES AT APPROXIMATELY 900 MILLION BARRELS, WITH GRRENWOOD COUNTY ITSELF AT 300 MILLION BARRELS.
The previous message was gathered from historical data and posted on the CHAG Club site (Yahoo! message board).
Peace,
M&M's Mark
DC100~~
Take a look at what happened with MSFT between 1986 and 1996. eom
Peace,
M&M Man
Arch. . .thanks for posting that update. This could be a very interesting week for CHAG. We may see the company's very first delivery of product to the market (or at least sale of the initial production). It's nice to be in this one at ground level. I wonder how many more companies on the OTC have this sort of potential? If anyone has any others out there that they foresee as offering something we'll need in the future, please feel free to give me a private email. I'll toss a couple your way, as well.
Peace,
M&M Man
MMayr@aol.com
8 wells running. We should here a report on volume, soon. If anyone catches that report. . .please post. I'll be busier than a bee this week. Will drop by whenever possible.
Peace,
M&M Man
CHAG mentioned in after hours report:
http://www.otcbbnn.com/pm-05112001.htm
Peace,
M&M Man
Tinberrygood. . .Do you think we'll ever get that "big" American partner LOL!
Anyway. . .have been watching (lurking) your posts. . .keep up the great work! Don't take the "hits" on the Raging (or is that Rabid?) Bull's site too seriously. Stand back a bit. Some of the longs that bought into the bubble era. . .are going to keep hitting those with patience and that were in prior to the pathetic runup. Anyway, keep the faith. Great to see you out there defending our stock!
Peace,
M&M Man
News out on Kansas property (COMTEX) B: Energy Company Chancellor Group, Inc. Announces Shinkle F
B: Energy Company Chancellor Group, Inc. Announces Shinkle Field A-3, B-10, and
B-19 Wells are Now Online
BOSTON, May 11, 2001 (BUSINESS WIRE) -- Chancellor Group Inc. (OTC: CHAG)
announced today that their Kansas Shinkle Field oil wells A-3, B-10, and B-19
have been pulled, and brought online.
Bill Stinson, chief geologist with Chancellor Group announced today that three
more oil wells have been brought online, and will assist in building up the
company's production levels. Mr. Stinson stated that the addition of the A-3 oil
well together with the `Big Bertha' oil well should help increase production
flows into the storage tanks for pick-up. Mr. Stinson also commented that
remedial work continues on the existing producing wells, as the company ramps up
the pumps that have been dormant for close to 18 months.
The addition of these wells, and the A-12 (`Big Bertha') now brings the total
wells currently producing on the Shinkle Field oil and gas property to 8.
Current oil production flow rates, and an announcement of an oil pick-up will be
announced shortly in a further press release.
Chancellor Group, Inc. currently has approximately 29.7 million shares of
primary common stock issued and outstanding, and 38 million shares fully
diluted.
Chancellor Group web site: http://www.chancellorgroupinc.com
Investor Research (real audio): http://www.wallstreetnewscast.com/chag.html
Chancellor Group Yahoo Club: http://www.yahoo.com/clubs/chancellorgroup
Corporate profile also at http://www.oiland gasprofiles.com
http://www.wallstreetdailypress.com
Certain information included in this communication contains statements that are
forward looking, such as statements relating to the future anticipated direction
of the industry, plans for future expansion, various business development
activities, planned capital expenditures, future funding sources, anticipated
sales growth and potential contracts. These forward looking statements are
subject to a number of known and unknown risks and uncertainties that could
cause actual operations or results to differ materially from those anticipated.
CONTACT: Chancellor Group, Inc.
Ashraf Khan, Chairman / CEO
ceo@chancellorgroupinc.com
or
Wall Street Newscast
Broker / Investment contact
Tom Bustamante, 212/233-9301
tom@wallstreetnewscast.net
URL: http://www.businesswire.com
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
Copyright (C) 2001 Business Wire. All rights reserved.
-0-
KEYWORD: MASSACHUSETTS
INDUSTRY KEYWORD: ENERGY
OIL/GAS
*** end of story ***
I did NOT like the idea that CHAG has once again missed the timeline for an announced LIVE interview with Tom Bustamante. This is getting rediculous.
Peace,
M&M Man
Hi Ray,
I think that would be a good idea. Perhaps that is one of the questions we could run by on the RB message thread/interview with Tom Bustamante, today? The only problem is, I believe it is not permitted for CEO's or executives of any company to post on a public message board. The CHAG Club site on Yahoo! was set up by CHAG . . .for conversation with their investors. So I believe they are okay to post there. On this thread, however, there is a different intent. This thread was set up by investors in CHAG to inform one another of concerns with the organization (positive or negative) so that we can present CHAG's management with questions (developed from the concerns). Investors are a bit more free to speak, on this thread. I'd hate to sever that freedom. Nonetheless, your thought is one that ran across my own mind.
Peace,
M&M Man
George. . .
I hope you are right. I gathered another 10,000 shares today. I think I'll stop now. Give it a year/break. If CHAG can deliver 1/3 of their expectations, I should be able to upgrade my Ford Explorer LOL.
Anyway. . .thanks for the tip on the driver. I probably have been swinging too hard! I can do better driving with my 7 iron than I can with my wood!
Peace,
M&M Man
PS: Anyone else having problems accessing the CHAG Club site on Yahoo!? I'm tired of trying to get that page to load. I hope Shane can move the chatboard for CHAG to the CHAG web site (after updating). Lets hope tomorrow's report brings us some green.
Marty. . .
I would assume that would all depend on how deep they have to go to get to the oil. Some wells need only go a few thousand feet deep. . .while some may need to go a few miles deep! That makes a big difference. Everything is relevent in the oil business. The pressure under the well is also going to make a big difference on the volume the well will produce. It's quite the science. If your friend has done their homework, they should know to take a close look at the geological surveys of the property. . .or to speak with the chief geologist of the property they have invested in. Perhaps they already have? Anyway, no fast and steady answer to that question. Too many other variables to consider.
Keep us posted if you find anything out that can help us all understand the duration of time it takes to drill.
Peace,
M&M Man
Tinberrygood~~
Thanks for all your message board posts. Even though there aren't many posts on this thread, most of them are quality provisions. Lets hope our HRCT team can pull out of their tailspin and get the shop in gear. I'm very happy there is "no news (shareholder's letters inclusive)" that is being distributed from HRCTLand. I like the idea that we'll all know the most recent COMPLETED deals after they are COMPLETE.
Peace,
M&M Man
George. . .
My soon to be. . .wife. . .is having a very difficult time finding a job (here in TN). We are most certainly facing recession. However, I don't believe we'll ever see another depression. The market is turning around. Energy will continue to be a hot item during the Bush administration and beyond. Particularly natural gas. CHAG is set to deliver, and is delivering. We can only pick up speed from here. That is, unless something very strange takes place. Lets hope for the forward moving element.
Peace,
M&M Man
Historical Quotes
CHANCELLOR GROUP INC
Prices Available: 07/18/95 through 05/07/01
Ticker: CHAG
Date Volume High/Ask Low/Bid Close
-------- ---------- ---------- ---------- ----------
04/09/01 7,000 0.54 0 1/2 0 1/2
04/10/01 14,300 0.54 0.51 0.54
04/11/01 25,200 0.54 0.43 0.43
04/12/01 100 0.51 0.51 0.51
04/16/01 47,500 0.45 0.42 0.42
04/17/01 136,400 0.45 0.32 0.33
04/18/01 230,800 0.48 0.37 0.42
04/19/01 29,400 0.44 0.38 0.38
04/20/01 42,100 0.42 0.38 0.41
04/23/01 59,600 0.41 0.34 0.34
04/24/01 15,100 0.40 0.40 0.40
04/25/01 289,400 0.45 0.39 0.40
04/26/01 116,100 0.41 0.37 0.37
04/27/01 104,500 0.38 0.35 0.37
04/30/01 36,000 0.38 0.35 0.35
05/01/01 40,700 0.38 0.35 0.37
05/02/01 142,300 0.41 0.37 0.38
05/03/01 73,300 0.41 0.40 0.40
05/04/01 14,800 0.40 0.38 0.40
05/07/01 10,400 0.41 0.41 0.41
05/08/01 Volume exceeded 180,000 shares. Price ends at 40 cents. Oil is now pumping from Big Bertha and several other wells on the Kansas property will soon be operational. At the present volume of oil stated to be pumping from the wells in Kansas (30 BOPD from Big Bertha and ~~ 20 from the other wells) we have approximately 50 BPD. At a price of 25 dollars per barrel. . .CHAG will have monthly revenues of ~~ 37,500 dollars. There are three more wells that are apparently getting prepared to begin pumping. CHAG still believes they will reach their goal of 2,500 BOPD from the Kansas property. That equates to approximately 1,875,500 dollars in revenue in a one month period. Hmmm?
The stock is trading at 40 cents per share on above average volume. Natural gas from the Kansas property is expected to meet or exceed the revenues from the crude oil production. Granted, there is a lot of work to be done to get the natural gas piped upstream (65 miles worth of pipe laying). But in addition to revenues from the natural gas CHAG comes up with. . .other properties in Kansas that utilize the pipeline that CHAG puts in will have to pay a fee for using their pipeline. So, CHAG creates more revenue. Probably enough to pay the pipeline construction off in a very short time. I still like what I'm seeing here.
Anyone can add to the commentary based on the projections above. . .please, feel free. In one year, this company just may build a small empire. Particularly with the Glass Mountain projects right over the hill.
Peace,
M&M Man
George. . .LOL! At any rate. . .
This is the latest message from Tom Bustamante:
"LIVE Online Investor Call in set for Thursday at...
>>> http://talkradio.lycos.com/talkradio/lycos/showguide/sg_tjbio.asp?jockeyid=4053
Thursday at 3pm EST CHAG will come on to update investors on production, and will take you calls live. Will email out in the club....let others know about live call in. Hope this is a good time!"
Peace,
M&M Man
MBR ~~ Thanks for that message! I'm going to post it on other small cap message boards and send it off to a few more CEOs. Lets hope swift action can be taken by the CEO's of small caps against these bashing idiots.
Peace,
M&M Man
Kato. . .
I believe Shane mentioned they may get as much as 200 bpd out of Big Bertha alone. Right now, production is about 40 to 60 bpd of all the wells that are presently running. They expect to reach 2,500 bpd when all wells are operating at full capacity. It's going to take some time, but at least revenues are running. We have no hard numbers on the production of Big Bertha. . .as of yet. . .but many of us are watching.
Peace,
M&M Man
Part II ~~ I also thought about BB stock holders who have seen the same bashers working against their stocks. . .to supeona Raging Bull and sue them for permitting falsified information to continue to exist (perjury, lible, slander, defamation ~~ it happens so often over there. . .it is rediculous). But is it worth investor's time? I just don't know. However, anyone that enjoys reading that crap posted by "Theposter" and his crackpot buddies. . .has to be gonzo. Anyway, just dreaming I suppose. . .now back to the batcave. . .
Peace,
M&M Man
Can someone please explain to me what the "PAL" committee is? I find that it is about time companies take action against the bashers (particularly the ones mentioned by 1moodyblue). I know I should probably know what that committee is. . .but I haven't had time to ponder researching action against bashers. Nonetheless. . .it's actually more exciting to see what will go against them that what is going for HRCT!
Peace,
M&M's Mark
Monday May 7, 3:50 pm Eastern Time
Chancellor Group, Inc. Announces Oil Well, `Big Bertha' is Now Online
BOSTON--(BUSINESS WIRE)--May 7, 2001--Oil and Natural Gas company Chancellor Group Inc. (OTCBB:CHAG - news) announced today that its Shinkle Field A-12 oil well `Big Bertha' is now online.
The output of Shinkle Field's A-12 oil well ``Big Bertha' is a significant step towards reaching the company's projected total production goals. Chancellor Group currently has 3 oil wells online on its Shinkle Field property. In addition, the A-3 well is expected to be online shortly.
Chancellor Group, Inc. currently has approximately 29.7 million shares of primary common stock issued and outstanding, and 38 million shares fully diluted.
Chancellor Group web site: http://www.chancellorgroupinc.com
Investor Research (real audio): http://www.wallstreetnewscast.com/chag.html
Chancellor Group Yahoo Club: http://clubs.yahoo.com/clubs/chancellorgroup
Certain information included in this communication contains statements that are forward-looking, such as statements relating to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts. These forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual operations or results to differ materially from those anticipated.
--------------------------------------------------------------------------------
Contact:
Chancellor Group, Inc.
Ashraf Kahn, 310/277-6595
or
Broker/Investment Contact:
Wall Street Newscast, Inc.
Tom Bustamante, 212/625-9928
tom@wallstreetnewscast.net
"Big Bertha", the A-12 well, came on stream again on Friday night, and is pumping an approximate average ratio of 90% crude oil and 10% salt water. We will endeavour to establish flow rates for this and the other wells as soon as possible, and we hope to have the first crude shipment leaving the field on Monday or Tuesday. Chancellor regrets that flow rates have not been where we expected due to ongoing equipment and well repairs and limited available free capital. The company is making real and continuing progress at the property, however, and is confident that the rate of this progress will gather speed. We also regret that whilst 99% of our stockholders have been patient and supportive, there is that small element of people who have nothing better to do than criticise a management team that is working its socks off to make this company a success for everyone. It is hard enough doing what we are doing and need to do without putting up with this sort of errant nonsense from people who have no understanding as to what goes into building and maintaining a successful business in a difficult economic and financing environment. Chancellor management is appalled at the attacks levelled at it by some of these people. You can be sure of one thing : put in our position they would turn to jelly. We have no compunction in deleting those people from this site. Constructive criticism we can take,but we refuse to tolerate some of the recent nonsense we have witnessed here. There is a place for that sort of stuff : its called "Raging Bull".
Previous quotation was taken from the CHAG Club's Yahoo! site ~~
Peace,
M&M Man
Tinberrygood ~~
Interesting catch. However, for months we have been seeing Sinobull's logo hither and yon. . .and the same goes for StreamingAsia. We've waited for the IPO ~~ and we're patient with delays. Now it's May.
One question, since the Doc has stated on numerous occassions that they do not expect the market to improve until later this year, is that when we should expect the IPO of SA? Afterall, isn't Yuanta the group that is "dragging their feet?" Now, correct me if I'm wrong. . .but the Nasdaq bounced off of the ugliest level we have seen in over two years. The DOW also BOUNCED from a low I would have never expected to see. That, is called a "recovery." Is the market weak now? As all I'm saying is. . .Yuanta wanted to wait until the market regained momentum/strength. Which market were they referring to? Was it the stock market? Was it actually intended to term, "the industry that HRCT is involved with (/SA)? What market were they talking about?
Okay ~~ still keeping the faith.
Peace,
M&M Man
1moodyblue ~~ I'm with you! At this point in time the only reason I can see a delay in the IPO of SA is because HRCT simply wasn't prepared to IPO the stock. . .or something else is in the making (that will hopefully "come to pass").
With the recent volume on HRCT's shares (and moderate price increase) it is apparent that the OTC BB is gaining a little attention. The AMEX, NASD and DJIA indices have all stabilized. I wouldn't call it a major bull run, by any stretch of imagination. However, the market appears to be coming off of its ultimate bottom (for the present day and age). There is no reason why SA could not have IPO'd over the past couple of weeks. . .unless there is something going on inside of HRCTLand that would prevent that from happening.
If Yuanta wishes to wait for "market conditions" to improve, they waited too long. I just can't believe that is the excuse. The perfect time to IPO is when the market is at a bottom and is headed up. Otherwise. . .doesn't everyone see what happened to the IPO's of dozens of companies on the NASD when the "market was good?" Who informs those idiots?
Anyway. . .I would suspect that HRCT has something else going on that is preventing the SA IPO from taking place. God forbid they would be lying to anyone. That would not be good. Anyway. . .this OTC BB ~~ is quite interesting. HRCT management. . .impress me pleaze (notice the "Z").
Peace,
M&M Man
General George ~~ That is exactly why this site was created. People that have a difficult time attaining more information on CHAG (or any other investment) need a place to go where they won't be hammered down and battered when they pose "doubt" or "inquiry." On this message thread, if we can find the answers, we will find them. Make sure you forward the ihub link and let your friend come here ~~ so we can do our best to keep them informed. Of course, they will also benefit from knowing about the Yahoo! site where Shane answers inquiries (not always cordial).
Keep up the great work!
Peace,
M&M Man
Oil field update posted on the Chancellor site:
"Following is a brief field update. We willupdate in the next working day or so in respect to the first crude shipment :
The pulling rig arrived late yesterday afternoon. They were stuck on
another job in a nearby field. Big Bertha has been pulled. The seals are
being replaced on the downhole equipment pulled out of the hole as this
report is being written. It will start pumping this evening.
Another 3 wells will be pulled within the next 24 hours. One of the three
wells is not going to be a big producer but it is right by the Chancellor
at the entrance to our lease. We have started negotiations with the
pulling rig company to lease their rotary rig. The rig will be ready to go
the first or second of June. Zeke is contacting mudlogging companies and
other ancillary personnel. As we are pressed to deliver our first load of
oil, I think I've come up with a way of bypassing the stock tanks and
drawing it straight out of the gun barrel. This may all be a moot point if
Big Bertha performs the way I think it will. "
Keeping the faith,
M&M Man
Hrctpower ~~ Series 144 (restricted shares) are offered in several forms. They can frequently be purchased through companies via private placements. They are not negotiable for a period of 12 to 24 months (depending on the type of stock that is purchased) and need to be registered with the SEC before they can be traded. Usually, companies that offer this type of stock are trying to raise capital to build their business. They are one of the highest risk stock positions that can be purchased by investors (primarily because companies raising this type of capital are in dire need of cash). They are also very much LESS liquid than open market shares. Therefore, trading them is quite a task. It takes about a month for a sale of this type of stock to settle, whereas a typical stock transaction only takes 48 to 72 hours. Anyway. . .after the restriction period is over, this stock can be sold on the open market. Most small companies will offer Series 144-D stock to investors that are willing to purchase a big enough block.
Peace,
M&M Man
EZ ~~
Diversify. No problem with that. And also, "sell too soon."
Peace,
M&M Man