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$170, 000 remains available for use from the Kuma Loan.
TDNW nigggggg pleasssse
sandy point cash calls, (10% manvel lien), and 15% bucksnag lien
Until the sandy point agreement is finalized, revenue from buck snag is undeterminable because MXXR does not how much it owns of Buck Snag. the same is true for the Manvel prospects properties
Sandy Point Prospect - Fite #3. On November 16, 2006, the Company finalized the terms of agreement with Texhoma and Sunray to acquire a 10% working interest in the Sandy Point Prospect for an aggregate amount of $35,928. The participation fee is to be paid through a conveyance of 15% of the Company’s participation in Buck Snag, valued at $22,500;10% participation in the Manvel properties valued at $6,000; and $7,428 in cash.
As of March 31, 2007, the Company owes the balance of $9,279 for its proportionate share of the cash calls for drilling on the Sandy Point Prospect which is included in the accruals payable and accrued liabilities.
Manvel Prospect - Miocene well. On October 5, 2006, the Company finalized an Acquisition and Participation Agreement with Texhoma for the acquisition of a majority working interest in two wells (“Miocene well” and the ”Oakville well”, collectively the “Manvel properties”) located in Brazoria County, Texas (the “Manvel Agreement”). Pursuant to the terms of the Manvel Agreement, the Company shall receive a 55% working interest in the Manvel 2,000 ft. Miocene Exploration prospect (“Miocene well”) for $20,000. Subsequently, on November 16, 2006, the Company conveyed 10% of its working interest in the Miocene well valued at $2,000 as a partial payment towards the acquisition of a 10% participation in the Sandy Point Prospect.
As of March 31, 2007, the Company has paid the $18,000 for its 45% participation in the Miocene well and $45,000 for its proportionate share of the cash calls for drilling.
Manvel Prospect - Oakville well. Pursuant to the terms of the Manvel Agreement, the Company received a 55% working interest in the Manvel 4,500 ft. Oakville Development well (“Oakville well”) for $40,000. Subsequently, on November 16, 2006, the Company conveyed 10% of its working interest in the Oakville well, valued at $4,000, as a partial payment towards the acquisition of a 10% participation in the Sandy Point Prospect.
As of March 31, 2007, the Company has paid the $36,000 for its 45% participation in the Oakville well. The Company owes a balance of $76,500 for its proportionate share of the cash calls for drilling. This amount is included in the accruals payable and accrued liabilities at March 31, 2007.
Expect all leases to have rigs pumping before October. If, indeed, the gulf of mexico continues to be the focal point for La Nina hurricane (big number), then natural gas prices will double (they always do). November may very well present .65 pps.
You'all don't want to see it. But Press releases, 8ks, and controversies are a big part of obtaining Name Recognition for the purpose of increasing the number of investors so that share prices will rise. Management is greedy, thank GOD.
without clear title to Sandy Point interests, MXXR is unable to write off the loss of their investment ($44,000).
when it hits .0008 I will grab another $10000 worth of MXXR. My order is already in and the cash is ready. So if you all want to keep short selling go right ahead and drive the price down to as low as .0001
There is no upside to selling. Either I am right and MXXR rides the highs of energy prices stoked by a hurricane season focused from the lesser antilles westward and mostly in the Gulf or we get bigger Tax write-off at the end of the year (that's when you sell and the reason why you sell losers)
My analysis is 5 stars awesome and if you prefer calling me a GREAT PUMPER then go right ahead. I have been playing penny energy stocks for the last 10 years and I am always seeing the same patterns emerge and repeat.
If you want to Make real MONEY when you INVEST BUY BUY BUY and only sell when it is really worth it.
I would suspect that there were time tables on the outstanding shares. Most of the new 60 million shares from the 128 million total Probably came on the market at the same TIME, so not 1 million shares a day that is a Lie from averages. As is the 100 million total, it is unsubtantiable inference from a lie of averages. Moreover, My point holds true that there is no indication that the new shares added to the OS total are being sold. Rather, what is more likely is that the inability of naive investors to understand what MXXR is doing has convinced them to sell and Cheap Triggers are on the roam shooting short targets.
Numerically, if Share Price was a rational function of "value" and dilution. the addition of 60 million shares from the time that MXXR traded at .02 should have reduced Share Price to .014.
But that is not what is driving the game, irrational selling is and share price was falling to this level even if no changes to OS had occurred.
From what I can see Outstanding Shares have always been about 200,000,000. I can find no indication that the 128,000,000 consultant shares have entered the market. No one has ever provided a link to substantiate the claim that these are the shares being sold. SO hadyou better produce a link to prove that they've sold those 128,000,000 consultant shares or STFU
have you ever worked for Independent Energy Producers or their funders? This industry is over 100 years old. There are no suprise business practices. If you are smart and worldly enough, you can see the honesty of their intentions
EGLF (flipper) Correction on BUCK SNAG
They made no payments(royalties) from Sales were made by the Well Operator to MXXR before Mar 31, 2007. As such, this means any payments from sales will be recorded in following 10Qsb's
When your out of your league, Its best to know when to STFU.
EGLF (FLIPPER) The Letter of Agreement Was Real
There was no Fraud in the act and making public the letter of agreement gave force to their promises.
It is clear that New Management at TXHE from Valeska probably had a role in nixing the deal. Seems like Clovelly was dealmaker for them.
It is unfortunate that MXXR was unable to obtain the 11% stake in Clovelly but it was not there fault. The Kuma Loan left them with $170,000 (renegotiated from $500,000 to $750,000 borrowing limit---MXXR used $580,000) as of Mar 31,2007 to borrow!!!
EGLF(FLIPPER) Let me tell you about Due Dilligence
It is not simply watching the fuzzy numbers of daily share price performance. Conducting Due Dilligence entails acquiring a full grasp of the business model for the investment opportunity, the nature of the business and its relationship to the community of businesses, why the nuanced legalisms of SEC (a special interest (big business & ABA)captured arm of the bureaucracy)regulations are as they are, etc.
It was easy to surmise that Schuirring #1 produced $6000 -57.5% belonging to MXXR- and then ascertain from the length of time from when production began and ended the amount of gas produced each day just by roughly knowing the trading price for LNG.
Extrapolating forecasts for Schuirring # 2 revenuel from a comparable formula and a rough guess about the number of production days can be done by any fool. Luckily MXXR had seconded my calculations by indicating that they would obtain payback ($200,000 for Buck Snag) as early as 6 months....
My posts mean that MXXR has not been misleading investors. MXXR has been working for the best interests of investors (particulary with its efforts to ensure that the Clovelly Production gets underway as soon as possible.
Revenue from Buck Snag will be reported with the next 10qsb. Expect revenue could range to around the $100,000. This assumes that daily production rates for Schuirring 2 at buck snag match rates guessed for Schuirring 1 (.5- 1MMCFgpd)* could be less.
Matrixx had to report the revenue earned from The Schuirring Well No.1 gas sales ($3,346 = a figure less than 2 Mmcfg *just a few production days)*the pay sands did not comeback online until this year- The Trucks come only when they can be filled). MXXR did not receive these royalties, but rather that they were probably counted towards Shuirring Well No.2 and their percentage of sales and administrative costs.
the kuma loan pays for everything. Its flippers not consultituties driving share prices down
The Company's goal is to invest cash flow proceeds from successes into new projects. To date financing has been supplied by the SPA with GCCC. The Company is seeking new sources of funding, however, there can be no assurance that a renewal will be reached or that if reached it will be on terms and conditions favorable to the Company. In the interim, on August 1, 2006, the Company executeda Loan Agreement ("Kuma Loan") with Kuma Holdings LTD, aBritish Columbiacorporation ("Kuma"). Pursuant to the terms of the Kuma Loan, the Company may borrow up to $500,000 to pay for acquisitions, cash calls, payables and public company expenses. The Kuma Loan matures in 30 months, on January 31, 2009, and bears interest at 10% per annum payable at maturity. As an incentive for the Kuma Loan, Kuma will receive a 10% bonus payable in restricted Common Stock, to be issued upon receipt of the $500,000 aggregate principal. On January 1, 2007, the Kuma Loan was modified to increase the amount of funding available to the Company to $750,000.
As of March 31, 2007, the Company has received $580,710 in funding from the Kuma Loan. Aggregate principal and interest owing on the Kuma Loan at March 31, 2007, is $607,697. On February 22, 2007, the Company issued 4,192,833 shares of restricted Common Stock valued in aggregate at $50,000 for the 10% bonus payable for completion of the initial $500,000 in funding.
Buck Snag PayDay Cometh soon
Matrixx Resource Holdings, Inc.: Buck Snag Schiurring No. 2 Online for Sales (MXXR is not the Seller, the Well Operator is. MXXR is the Financier/ Owner) and is paid by the well operator who is responsible for storage until marketable units are available for sales and then sold)
Friday January 5, 8:00 am ET
Upon completion of all gas sales from the 3,800 foot sand, the operator anticipates perforating and producing from the 3,500 foot sand and the 2,000 foot sand. Sales from all three pay sands could reach as much as 1 BCFG (is worth more than 2 million dollars, so for MXXR its about $1 million).
Matrixx has a 42.5% working interest into the well. Payback is anticipated as early as six months from commencement of production, which is expected to begin on January 10, 2007. Drilling on the next Buck Snag well is expected in approximately two months
Matrixx Resource Holdings, Inc.: Drilling Update
Thursday April 5, 8:00 pm ET
LOS ANGELES, CALIFORNIA--(MARKET WIRE)--Apr 5, 2007 -- Matrixx Resource Holdings, Inc. (OTC BB:MXXR.OB - News), announced today that operator and Matrixx plan to re-complete the Buck Snag Schuirring No. 2 well.
Further, Matrixx was informed that the Schuirring No. 2 at Buck Snag will be re-completed at the shallower pay sand and will be back online for sales
(Clovelly, TXHE, Laurus Master Fund, and MXXR
For the record, I restate my assertion that MXXR's and TXHE Clovelly "deal" was solely for Bargaining Purposes. TXHE needs the revenue from Clovelly as much as MXXR
The 28-Feb-2007 10QSB/A discloses a signficant venture capital investment: "On March 28, 2006 (the "Closing"), Texaurus entered into a Securities Purchase Agreement ("Securities Purchase Agreement") with Laurus Master Fund, Ltd. ("Laurus"); a Registration Rights Agreement with Laurus ("Registration Rights Agreement"); issued Laurus a Common Stock Purchase Warrant (the "Texaurus Warrant"); entered into a Master Security Agreement with Laurus; sold Laurus a Secured Term Note in the amount of $8,500,000 (the "Note"), and entered into various other agreements described below. Additionally, in connection with the Closing, we issued Laurus a Common Stock Purchase Warrant (the "Texhoma Warrant")..." [2]
The 10QSB/A reports that TXHE used the proceeds of this deal with Laurus to buy an interest in the Edgerly field. "On March 28, 2006, with an effective date of January 1, 2006, Texaurus closed a Sales & Purchase Agreement to purchase certain interests in the Barnes Creek gas field and the Edgerly field from Kilrush Petroleum, Inc. Texaurus paid the $5,225,000 purchase price with proceeds received from its sale of the Secured Term Note with Laurus."
The Laurus investment came with strings attached. The 10QSB/A states that the Laurus investment took the form of a note - i.e. a loan. The 10QSB/A states: "In connection with the Securities Purchase Agreement, Laurus Master Fund, Ltd. ("Laurus"), purchased a $8,500,000 Secured Term Note from Texaurus, which bears interest at the rate of 10.25% per year (as of November 29, 2006), which is due and payable on March 27, 2009, and which principal is repayable by way of a production payments equal to 80% of the gross production revenue received by Texaurus in connection with the Intracoastal City Field, the Edgerly and the Barnes Creek Properties." [3]
It is an open question whether TXHE will be able to repay the Laurus note. The current revenue stream does not appear to be sufficient. According to the 10QSB/A:
"In connection with the Securities Purchase Agreement, Laurus Master Fund, Ltd. ("Laurus"), purchased a $8,500,000 Secured Term Note from Texaurus, which bears interest at the rate of 10.25% per year (as of November 29, 2006), which is due and payable on March 27, 2009, and which principal is repayable by way of a production payments equal to 80% of the gross production revenue received by Texaurus in connection with the Intracoastal City Field, the Edgerly and the Barnes Creek Properties."
"There can be no assurance that we will have sufficient funds to pay any principal or interest on the Note when due on March 27, 2009, if such repayment amount is not sufficiently covered by the payment of production proceeds to Laurus, as described above. If we do not have sufficient funds to pay the total remaining amount of the Note (after taking into account payments of principal, which we may not have sufficient funds to pay) when due, we will be in default and Laurus may take control of substantially all of our assets (as described in more detail under "Risks Relating to the Company's Securities"). As a result, we will need to raise or otherwise generate approximately $8,500,000 to repay the Note (not including any adjustments for payment of principal in connection with production payments paid by Texaurus) by March 27, 2009. If we fail to raise this money, we could be forced to abandon or curtail our business operations."
In connection with this investment by Laurus, it appears that Jacobs put more of his own money into the company. "Frank Jacobs, our Executive Chairman and one of our Directors, and the President, Chief Executive Officer and a Director of Texaurus provided $300,000 of personal funding to Texaurus in connection with the funding, by way of a subscription for 7,500,000 shares of our common stock at $0.04 per share."[4] The fact that an insider is apparently putting more of his own hard cash into the company could suggest confidence that management does have a realistic hope of turning this company around.
The currently claimed revenue stream is about $2.88MM per year. 80% of that belongs to Laurus or about $2.3MM per year. (Note that this leaves only about $500K in cashflow to be retained by the company.) The Laurus note is due in March 2009. Two years of revenue off the existing production will only cover about half of the debt to Laurus. Presumably the insiders at TXHE are not stupid. Presumably the folks at Laurus aren't stupid either. The insiders have stuck with this company for quite some time even in the face of no revenue at all until now. They must have some plan for covering the other $4MM.
the questioning became bs and deserved about as much. You should not have taken the golden statements for granted.
For example, the VYEY RED HERRING (VYEY is not making any money)
VYEY ex) for MXXR Imagine a 25:1 r/s .003*25=.075 Tightening the band like that (18 million o/s)and then announcing(% of)$120 million drilling results with 3-4 Hurricane implications would then easily drive share price to ridiculous highs (but the Consultities are sellers huh) The market, in general, doesn't make individuals rich in that way. Because doing so would unbalance the capital markets, these penny cappers tend to keep their dilutions around 100 million. 4:1 RS = .015 and then the hurricane implications could toss us to above .2 (which is where MVOG floated after dilutions and revenue ($1million) started rolling in until they could not pay their debts).
Of course, the downside to R/s is that you change the weighted impact of each trade so that very little extra $ is actually gained. Besides Greed tends to encourage individuals to hold longer than they should such that selling to the max authorized shares to individual traders is a moot point. Therefore, if MXXR can get to .2 with a 4:1 r/s it will do so without one.
Now, on the other hand, if there are true shorters, instead of the diluters, who are buying shares cheap from discouraged individuals, then they, the shorters, would benefit substantially from a R/S into good times (Kuma Loan?)
1) you don't just wake up and say "today we are going to do a R/s". It takes a few months to accomplish and you must have shareholder approval" There must be press releases and lots of other SEC required activities
2)If you have to max the authorized o/s share total to keep things going, then do it. You have them available to give yourself the best shot. GOOD FOR MXXR if these activities will get Clovelly started.
3)You know you failed when you've reached your authorized O/s cap and you have nothing else to draw on (for energy producers that means you gotta bunch of dry holes). To have a new authorized total you have become a different business (register anew with SEC & withdraw other registration)
4) O/S total is meaningless unless you are profitting. Dilutive math is just bullshit measures unless there are dividends. For PENNY CAPPERS, their share prices are determined by REVENUE
MXXR's 5% rights to the Clovelly project presents a legal obstacle for the other partners who wish to develop the project. In order to proceed without startup funding from MXXR, these partner's must either agree to acquire a lien on MXXR's share of the return, buy MXXR outright, help to find financing for MXXR, or wait until BK proceedings unravel after a few years of legal wrangling just to acquire the stake or have a purchaser come along who can finance the % startup cost for Clovelly.
The Downside of having to wait is the loss of possible revenue that can keep your company from BK. Remember most of these PennyCaps are just as burdened by contractual loans. Missed opportunities can and do often bankrupt...
From TXHE Update On Clovelly Sale
"The Company reported in its Form 8-K filing made with the Commission on May 25, 2007, that it had entered into a Letter Agreement with Matrixx Resource Holdings Inc. (“Matrixx”) to sell its 11% working interest in the property known as the Clovelly Prospect (the “Clovelly Prospect”) for $150,000. In connection with and pursuant to the Letter Agreement, we expected to receive an earnest money deposit of $25,000 on or about May 25, 2007, with the remainder of the purchase price to be paid on or before June 30, 2007; however, we have not received any funds or any deposit from Matrixx and the Letter Agreement has been terminated. "-------The agreement required a concommitant downpayment with signing. Why sign an agreement that you cannot pay for other than to acquire bargaining rights on the property vis-a-vis financiers.
TXHE 8k 6-21 cont.
"On or about May 31, 2007 we sold 4,800,000 shares of our restricted common stock pursuant to a subscription agreement to an individual for aggregate consideration of $60,000 or $0.0125 per share. We claim an exemption from registration afforded by Section 4(2) of the Securities Act of 1933, for the above issuance, since the issuance did not involve a public offering, the recipient took the securities for investment and not resale and the Company took appropriate measures to restrict transfer. No underwriters or agents were involved in the issuance and no underwriting discounts or commissions were paid by the Company. " THIS IS THE DEAL MAKER GETTING HIS For finding FINANCIERS
"On or about June 5, 2007, we sold 18,000,000 shares of our common stock to Hobart Global Limited, a British Virgin Islands company, in consideration for $225,000 or $0.0125 per share. We also agreed to provide Hobart piggy-back registration rights in connection with the sale. We claim an exemption from registration afforded by Section 4(2) of the Securities Act of 1933, for the above issuance, since the issuance did not involve a public offering, the recipient took the securities for investment and not resale and the Company took appropriate measures to restrict transfer. No underwriters or agents were involved in the issuance and no underwriting discounts or commissions were paid by the Company
I am shifting points of view about MXXR entering into another financial agreement. Bankers will provide loans for production if there are no obstacles because they have the guaranteed return of a share in the produce.
you wanna know who I am
Raymond Andy A
andyadkins.livejournal.com
you wanna who I am
Raymond Andy A
andyadkins.livejournal.com
TXHE 8k Means Clovelly drilling to begin Immediately
If Clovelly operations were required to wait for MXXR's share of the startup costs then drilling would never begin. TXHE acquired its share of Clovelly startup funding By reaching an agreement with Hobart Global Limited for $225,000.
Clearly, MXXR and TXHE were both using the Clovelly prospect to shop around for additional Funding. TXHE was first to the punch bowl so the agreement was withdrawn.
Drilling of Clovelly may or may not encourage financiers to saddle up with MXXR in time to complete the Easter Acquisition. Nonetheless, at some point, the revenue stream from Clovelly, if used to develop all lease, will allow MXXR to pursue additional acquisition financing
charting hurricanes and penny energy stocks.
Onshore producers experience significant runs on share price during monster tropical seasons and the ride lasts until offshore producers get things back in order.
To some degree, penny energy stocks do Print their money during the down cycles to open doors for future opportunities. The risks involve properly timing the upswings. For the most part, the properties that they are developing are being traded because of bk's.
inverted trough sinks to the gulf coast over the weekend to ventilate a tropical wave propagating towards Louisiana (mon 25th 100% rain chances and Gusty winds according to the mrf)
You can't be in the energy development and acquisition game without being attuned to the weather (energy is all about weather!!!)Bastardi, the meteorologist, is one of the most important advisers in the energy sector.
Look at the timing for the Clovelly shut down in '06 (MXXR made a press release on August 16th saying that a wrench became stuck in the well (LOL- a monkey wrench to those plans)August 16th is the climatological start of the most active portion of the Hurricane Season (Forecasters had by then determined that Upper Level Winds would not permit the formation of storms that would threaten the oil producing regions of the gulf (and guess what? There were not any U.S landfalling storms throughout '06). I will tell you something else...smart people knew long before August 16th that On land energy companies could benefit from the uncertainty beforehand
Isn't it clear that with all of their properties contain extractable reserves- sometimes not at the "earmarked depth" responsible for encouraging investors to cover foundation costs.
Production at Clovelly will begin during July. I believe Bastardi's right, all charts are pushing for the development of a ventilated(significant) cyclone to hit the west central gulf around july 1st *maybe a few days sooner*; Its a classic pattern well forecasted by the models.
More on the Weather and MXXR
proa.accuweather.com Joe Bastardi indicates that 200 mb pressures(pattern pulse-Madden-Julie Oscillation circles the globe in eight phases as a dependent variable durationally reacting to water temperature profiles) will encourage tropical development in the atlantic basin from june 25th till july 15th. The placement of High pressure Ridges favors upper texas coast. louisiana for any developing system (chantal). Some computer models are popping significant development.
As far as last year & Clovelly goes, development of the field, or lack thereof, is specifically tied to the '06 hurricane season. On land development is more costly than offshore development.
Again shutting down Continental Shelf and Deep Water Gulf energy Production are the primary components determining success for Matrixx resources properties *even natural gas properties* since there are remarkable spillover correlations between oil and natural gas price spikes!!!
Water Temperature Trends leave the Atlantic Warmer than Normal and the Easter Pacific Colder Than Normal (I can detail the Southern Oscillation Index correlates but that pedantry). Suffice it to say, the onset of La Nina will mean that the tropical cyclone favoring pattern pusle (its about uplift/versus subsidence--a pattern favoring Thunderstorm development favors Tropical Cyclone Formation-) will last for a shorter period ove the eastern pacific than it will over the Atlantic.
proa.accuweather.com Joe Bastardi indicates that 200 mb pressures(pattern pulse) will encourage tropical development in the atlantic basin from june 25th till july 15th. The placement of High pressure Ridges favors upper texas coast. louisiana for any developing system (chantal). Some computer models ar popping significant development.
As far as last year & Clovelly goes, development of the field is specifically tied to the '06 hurricane season. On land development is more costly than offshore development.
Again shutting down Continental Shelf and Deep Water Gulf energy Production are the primary components determining success for Matrixx resources properties *even natural gas properties since there are remarkable spillover correlations between oil and natural gas price spikes!!!