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Well, time will tell if you are correct or not. Personally, I doubt you are though. I have seen too many ways that the money spent now by PEII is going towards bringing production online. They spent $323,732 just to bring the Texas wells into P-5 compliance. By August, I expect the P-5 will get full approval based on the info on the Texas RC's website and ALL 29 pumpable wells there will come online. I look at the facts and try to read between the lines to ferret out pitfalls on any stock. It is by no means totally a rosy picture here though. The share price will suffer every time there is a draw down on the CPUS loan monies and hopefully as production starts putting money into PEII's pockets the draw downs won't be needed as often. It will be in fits and starts, but share price here will rise for PEII over time. IMO
I believe this stock has only one way to go from here, UP, if all that FS and Petron Energy II has said is true right now, and all the evidence and digging around for information tells me that it is. The monies that FS is taking in, the lion share of it, is finally going where it belongs, production and reasonable return acquisitions. Texas and Oklahoma leases are going to pump oil and some gas too. WTI Oil is shooting up right now to highest in a year. The oil and the money are there. IMO from my own DD.
If NITE would just pull off the .0003's this would likely start to move up. IMO
Holy crap this just shot up to .0005's, NICE! My think or swim with TD Ameritrade shows this in the .005's right now, what the heck??? My bad, it brought up OLD data.
Granted the roof is made of paper, so should be easy to get through...lol
Fast forward 3 months, PEII has 2 oil and gas producing leases on line, selling oil and gas. I'm giving a CONSERVATIVE estimate of 20-25 BOD by that time frame and increasing steadily as pressure rises in the Texas wells with stimulation. It's not 110BOD but a major step in the right direction. That would give PEII a cash flow in of between $63K- $79K per month (at current oil prices). IMO
PEII PR excerpt: "The company is scheduled to test the Garrett #3 well after the completion of the Snyder/Simon lease project which WILL be completed during the month of June 2014. The company will report results for both projects as soon as they are available."
Note that the wording "intends to" is gone and the word WILL was used in the above statement. They have committed themselves to getting it done by the end of June. One redder will be coming on line in August (latest) too. IMO I don't care how many shares FS sells now, things are coming together and when real revenue comes in from oil and gas sales, the share price WILL rise and the dilution WILL slow appreciably IMO. I don't think that we will ever see the 25 Billion mark in OS and well before that income from oil production will eclipse any money needed from share sales. Don't forget as the share price rises, CPUS and FS don't need to sell as many shares to cover daily operations and loan obligations. PEII needs to keep the momentum up and start selling OIL at the soonest it can. All IMO.
Thanks for the picture, looks like earlier this year when the ground was nice and dry. Looks like Petron Energy logo on side of nicely painted tanks. The jack pumps to the right are not attached to anything though, no well attachment. The ones in the background left of the tanks do appear to be attached to well heads though. The three pumps not attached are probably from the 5 plugged wells and are in storage area. Not bad all in all. Now all we need is an oil truck up front loading up all the oil it can carry!
On the Texas wells, RRC site, "Wells Meeting P5 Renewal Requirements: 34", granted 5 are plugged wells but still 29 wells are not and all cleanup is done, should get approval at renewal date in August (if not sooner) then we see if there is a dribble of a gusher there. IMO
Some times they come just before a PR, that allows the the bid to build after the PR and the stock may even move up a tick or two, then 1B shares will get dumped and we are back @ .0002 again, unless it's one heck of a PR and has the word "production" in it. IMO
You can tell when you have no life when you plan a vacation and go to see oil wells... so you know, seen one well seen them all...lol, just kidding. Tulsa's OK, Tinker AFB has an aircraft hanger there that's a half mile wide and a mile long but likely you won't get in to see it. Other then that, won't be hard to find oil wells, it's just finding the correct ones. Whatever you do, ENJOY!
I have a relative in Tulsa but she is handicapped and not likely to be much help with that, unfortunately.
I've seen those every day here lately, someone is trying to manipulate the share price lower to pick up shares with a head fake. Really a lame move though.
Well, worst thing is lots of rain, most OK wells are not off an interstate highway exit. Lots of wells are out in farmers fields with dirt roads that when wet become almost impassable. A dry patch of weather really helps.
Uncle, you are a guy who seems to HAVE a clue here what he is doing and what the potential for PEII is, not to take away from anyone else here. I really think that except for weather issues earlier in OK that FS's plans, his plans not ours are on track for this year and summer. Your take?
All sounds good to me. Just a hurry up and wait game here. Patience rewards the weary investor here EVENTUALLY... hopefully sooner than later.
Considering over a billion sold in ONE day, yeah, not bad. Also, I guess my sarcasm doesn't translate well in print.
Swim, really, I don't think so... I said "SOME", maybe you, not me.
PEII, Outstanding Shares as of 6/07/2014 =
6,353,639,180 according to PEII's web site. Not as bad as I would have expected.
Most likely when they actually have something GOOD to say. I think FS is smelling the tar and feathers in the wind by now and is probably going to choose his words carefully. I can't see why we haven't heard anything about OK oil yet though. The weather has not been that bad there lately. Just the typical summer stuff, the next 10 days are to be mostly dry 70-90 degrees with a few thunder storms in the Tulsa area. PR could be at any time now, the way I see it, it's overdue.
Really, demand is decreasing? s.k3, the demand is off the charts, it's incredibly high ; 1.59 Billion shares changing hands is NOT low demand. It's the price everyone is buying at that sucks because FS will have to sell billions more at this price level for him to cover the loans from CPUS. If this stock was selling at .0010-.0012 even, it's likely FS would not have had to increase the number of shares to 25 Billion. Do I think we will get the 25 Billion sold this year, NO but ONLY if significant production and OIL sales come in soon. Otherwise, all bets are off and next year it will be Petron Energy III and we are all screwed! Actually if bid did dry up a little for a short amount of time it might scare CPUS and FS into backing off the dumping and let the SP come up for a bit. When you have 600 Million willing to buy at .0002 and 400 million willing to buy at .0001 then CPUS will just sell to all and bam another billion sold. If no one is buying, CPUS can't sell and that might get them to pull off the lows and edge the stock up.IMO
There is a typo error on the Nevada web site stating that the 25Billion shares are @ .001 face value instead of .0001 per the 8K filing by PEII. Excerpt from 8-K: "On May 30, 2014, the Company, by and through its Board of Directors and with written consent of a majority of its shareholders entitled to vote, filed an amendment to the Company’s Articles of Incorporation with the Secretary of State of Nevada effectuating an increase in the total number of authorized stock of the Corporation from 15,010,000,000 to 25,010,000,000 shares consisting of: (i) 25,000,000,000 shares of common stock, par value $0.0001 per share; and (ii) 10,000,000 shares of preferred stock par value $0.001 per share."
Screw the kiss, I want dinner and a movie at least! lol
Agreed, unfortunately I'm not one of them and can only speculate. I can't tell you the last time I saw ANY stock move over 1.5 Billion shares in a day though, even in penny land.
Normally, I would agree BUT PEII has done everything just the reverse of what logic and typical market expectations would dictate. I have a feeling that something is going on here behind the scenes that may make this stock jump appreciably and don't forget, someone is BUYING all those cheap shares for a reason. If they didn't think something big was coming soon, no one would buy this stock yet every day the BID side stacks up in the multiple hundreds of millions. My "Spidey Senses" are tingling or I'm having a heart attach, not sure which but I think OIL will start to pump and sell and that will be a game changer here. IMO
Closed @ .0003 though! 1.57 BILLION shares sold today! This is nucking futs!
Yeah, .0000! A sheet of toilet paper costs more then a share of PEII!
1.56 BILLION SHARES sold today, so far! Holy crap on a cracker, that's a lot of shares! Only 7 million left on the BID and 265 million on the ASK @ .0003!
FS is selling shares to CPUS at a 30% discount to market price. So, shares offered to them when the market is at .0002 sell for .00017 and the market prints it as .0001's, would be my take. IMO
It's the same president, Floyd Smith, same mailing address and same wells and last I checked, Petron II was in business at that address for awhile. First it was Petron, then Petron II but was Petron II last year when they got the first $5 million and during this time frame. Yes, FS NEEDS to address this, that is what is holding up production in Texas from going on line and it has to be done with a court order according to what I read. If the Texas RC doesn't give their approval, not one drop of oil will get sold out of those wells. That is why Floyd sent in paperwork to have this happen, that is why he cleaned up all the wells and had to bring them into compliance. If one well is in non compliance then none are allowed to sell their oil. That is why the Redder lease (in TX) is scheduled second to come online. He knows that approval won't come until at least August 1, 2014, PEII's P-5 renewal date. Why is it I am the only one reading this stuff. It's easy to find with 15 min. work. The links are posted. OKLAHOMA oil wells are the ones that will come online first. Then the Texas wells, if approved. Every one here is toooo impatient though, by end of August it will be BOOM or BUST, IMO.
Well, upon digging else ware through the site it identifies Petron, Operator # 660821 and with Floyd Smith as CEO and present address for company, so looks like same company to me. Link:
http://webapps2.rrc.state.tx.us/EWA/organizationResultsDrillDownAction.do?methodToCall=searchByOperatorNo&operatorNo=660821&rrcActionMan=H4sIAAAAAAAAAMWUTW-bQBCGfw29IKGZWcBwmAOyaRvJwi22HFVWDlt7lSARgxZoG4kf31lHtRPbVaQc2tPuvvOxMw_DjgjAakRApg_WbrNtXzX7cmt3G7jjg_7TfNdt21Eg5qDrdW-C_lcwdJ7KEhAPYo8-5reZbJXbVnstSX6YW1PXS3Efuq-DsU_PmYNdI34hP5r-odmtmqmuaxEitqYf7H7VLI222weREoaLgjbdwZrZ-y5otdWPa10PRuqMOY4hIRwTqSBUpDyaThQFAGPKE8nGGI4oPaYjEq9FOEYgTPhLvioXhZ8Xefnpm4T6N8U0OLsd_ymO7g-GmFt9b-yLdq-ywbvNuZ-rVz4tMcKoXOchE4yRSLFIl_H_kS29k21tdGdmptdV_QbPXdW1tX6anwL-zhYvqtu8uMhJZ5RBGNAkSiCKXM-oWGF8aN9hQQXHI_GiyP0yn83y0p1DBqEG0phuq8LV7n7H5zTCQzoOX5sxPbHFiH0fU993-5gXbklOZoLr7J0JeeYW4jREFSvlXgBSr04hrxfLpe9RssqKIv98M597lF6iuTp2eBw7mTo3dHgYut_2cKA6bgQAAA
Here is the link, I don't lie!
http://www.rrc.state.tx.us/oil-gas/compliance-enforcement/enforcement-activities/91114-operators-within-the-past-decade/
Scroll down to Petron Energy, can't believe I didn't see this sooner.
Did some digging on the Texas RC site and noticed that PEII has been banned from oil production by court order on 3/26/2013, then since it's P5 ran out on 08/01/2013 it hasn't produced ANY oil out of the Texas properties. It has done all the cleanup activities and submitted paperwork for P5 approval but approval may not come until the renewal date of 8/01/2014, if at all. If it doesn't get the approval then the company remains banned from producing oil in Texas per the TNR 91.114 "final and UNAPEALABLE judgement" of 3/26/2013. Someone who has FS's ear should press him on what's going on here and get the real story on the P-5 renewal. Basically, it appears they need a new court order resending the TNR 91.114 judgement before a drop of oil gets sold from Texas. Sounds to me, from what I read, that no OIL is pumping until at least 8/01/2014 at minimum, for PEII. IMO
Interesting facts from Texas RC: KNOX COUNTY (WHERE PEII has wells), Total wells= 496, Producing wells= 179, Shut in wells= 227, Injection wells= 48, Water Supply= 4 and non producing wells= 38. Seems like this isn't a DRY county, oil wise. IMO
Hell, it can't go down much more or CPUS will find it hard to make money. No one will buy these shares soon unless oil production starts in earnest. Hard to have faith in something that has fallen short so many times... I'm with uncle in the hope FS is not BS'ing us and actually going to get oil pumping sooner than later. Guess we will see. Good fortune will smile on us, I hope.
The black gold better start pumping a lot soon or you can wipe your butt with the paper the PEII shares are written on, just watch out for the splinters! IMO
Naz, it's relevant to share holders, just not to FS or even CPUS at this point.
Whatever the share price is CPUS gets a 30% discount to that. Even at .0001, CPUS gets it at .00007 and if it sells it at .0001 still makes money. It's the share holders that take the hit with the constant dilution though. The lower the share price goes the more shares have to be issued by PEII to cover. This could be over 100B shares AS if share price continues downward. CPUS and FS need to back off on the big dumping of shares for a few weeks and let the share price rise or this thing is DEAD, IMO
I posted a partial content of the S1 a couple days ago and .0004 was used as a reference only. The actual number of shares would be more because CPUS gets its shares at a 30% discount to daily share price. .0004 would translate to .00028 for CPUS's purchase price. Therefore it would be approx. 35.7B shares total to equal $10M at these levels. Since about 5B worth (3B actual-at these levels equivalent)of shares have already been transferred by my estimates since the S-1A approval in April. The recent 8-K upped total of A/S shares to 25 Billion total will fall short. That will fall short and I think we will see 35 Billion shares A/S before the end of year statement "IF" share price stays at these levels.The only thing that can stop that is SUBSTANTIAL OIL PRODUCTION AND SALES. IF we get that and sooner the better, then share price can rise and cut back the total number of shares needed to be issued, substantially. Hopefully, FS is working towards getting oil production online as diligently as he says he is. All IMO.
As of 5/31/2014 there is approx 5.2B shares OS shares. Between 5/10 and 5/31 nearly 2B shares were added. If this keeps up at this rate 6.5B shares will be within 2 weeks tops but doubt it will stop there. IMO