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When FS starts actually PUMPING the OIL instead of PIMPING the STOCK then yep, I agree. So far, I see new coats of paint on old oil tanks and pumps on their web site. That doesn't mean oil will come out of them. Heck, one healthy well could give 50BOD easy for a couple years or more. I know progress is being made on the regulatory front in TX but slower then water flowing up hill in winter at this rate and if I here another weather delay, sorry not buying it.
Actually, I hope that the bid drys up entirely for about a week, watch FS and CPUS scramble to get the price up then. They will likely put the ASK at $1/share and any bid that comes in lower then that will get snapped up. Of course when interest peaks and a steady bid flow starts coming again they will dump half a billion shares and kill the stock price again. FS better refill the printer ink for all those billions of extra shares he has to print and sell.
What is sooo bizarre about this little stock is obviously there are those out there that think this stock has the potential (myself included) to be a big deal (and they are still buying it, cheaply but buying it). It makes sense, it has tons of potential and with even minimal work can start producing oil and making some real money very soon. The sooner it does that, the sooner the dilution can slow and share price can rise. There is a "catch 22" though, we NEED the share price to go up "BUT" CPUS needs to sell shares it receives from PEII for loan payment (it can only retain 4.99% it receives and on that basis has no reason to not sell all it has, at any price, with their 30% discount). There's the rub, CPUS is financing PEII and at the same time killing the COMMON share price with dilution. Note that Floyds PREFERRED shares are unaffected and his 51% stake remains the same, EVEN if ALL of the BILLIONS of the COMMON shares available get bought up by some investor. That eliminates any chance of a hostile take over. All IMO.
When the sellers don't care what price they are selling at, yep you can have that kind of volume and the price did move... DOWN! Sooner or later the people who put in a BID (any bid) on this stock to the tune of millions and millions of shares will realize they're not buying a bargain at prices under .0004. Instead, they are installing a screen door in a submarine... yes, it will sink, even if they close the door! IMO
He is hopefully working towards that goal or we all are screwed here. It certainly SEEMS so according to the Texas RC site and OK's site too BUT who does that really benefit if share price still can't increase substantially due to constant dilution to the common share holder? It benefits FS and his company but not necessarily the common share holders even though FS claims to want to increase share holder value. If so, he has a strange way of doing it. IMO
If FS allowed CPUS to keep a larger portion of the common shares issued (more then 4.99%), say, 25% then CPUS would have better incentive to want share price to rise and would start raising the ask price. Higher share price= less shares issued to cover the loan costs. Better for everyone but CPUS will be the ultimate manipulater of this stock. CPUS is the one killing the share price and FS has to keep issuing shares to cover the loan to get his money from CPUS. It's a vicious circle right now. IMO
Only if the sale price for the issue day is .0004/share; if the share price goes lower then it's a 30% discount on the price on day of issuance. Hell, they could buy stock as low as .00007 /share if the share price goes to .0001 and still make money because FS would be obligated to issue more shares to cover the loan, "to infinity and beyond!" IMO
At the bottom he will just dilute more to 100 Billion shares or more to meet the CPUS obligations and then when he has the $10M he will do a 1000/1 reverse split and start over again; all to FS benefit and totally screwing the common share holders. If there is NO oil coming out of the ground to a substantial amount by the end of June (ie: TX and OK online) then this is a total SCAM stock. Weather conditions have NOT been that bad there to keep delaying week after week. The radio PR's are just bullsh*t and the questions are always answered with "I'm really glad you asked that..." any question FS answers with that at the start is total BS anymore. Buyer beware, I own 30M shares and never will buy 1 more share at any price until FS gets his house in order and starts to take care of the share holders or there will be NO ONE buying this stock soon.
Excerpt from S1: "At an assumed purchase price of $0.00028 (equal to 70% of the closing price of our common stock of $0.0004 on May 22, 2014), we will be able to receive up to $378,000 in gross proceeds, assuming the sale of the entire 1,350,000,000 shares being registered hereunder pursuant to the Investment Agreement. We previously received $119,120 and issued an aggregate of 300,000,000 shares of our common stock under the Investment Agreement. Accordingly, we would be required to register an additional 33,938,857,143 shares to obtain the balance of $9,502,880 under the Investment Agreement. We are currently authorized to issue 15,000,000,000 shares of our common stock. If the price of our common stock does not increase enough, we will be required to increase our authorized shares in order to receive the entire purchase price. CPUS has agreed to refrain from holding an amount of shares which would result in CPUS owning more than 4.99% of the then-outstanding shares of our common stock at any one time." Nearly 48B shares would be issued total if the share price doesn't increase above .0004/share. So, share price NEEDS to go up BUT constant dilution will keep it depressed. The only hope for this stock to gain value is start PUMPING substantial amounts of oil instead of bullsh*t! IMO
I think you will see more of the same here for quite some time. The only game changer on this is significant production. The only thing PEII has to sell right now is shares, it's their only real source of income until oil and gas sales restart. The cash cow is there and Floyd is milking it to hearts content. As long as most of it goes to production, I still don't have a problem with it though. I'm seeing real movement towards significant production soon. This is a long play for me. As long as the light at the end of the tunnel isn't a train heading straight for me, I'm good. IMO
And that is why we both bought into this little stock. This is the right time to get in, said it before and those who do won't regret it. Problem is I can usually determine a good inflection point in a stock, the problem always is when to get out...lol. That said, mine is a long term play in PEII for now.
Agreed, but there is limited cash available to purchase acquisitions and they should purchase acquisitions but in a timely manner with production taking the lion share of the efforts RIGHT NOW. If they don't start generating a real substantial revenue flow and have a steady stream of it, acquisitions won't help much to sustain this company other than to resell it again later. IMO
I would like to hear more forceful conviction out of Floyd about production as the PRIMARY goal and then here about other efforts as a secondary effort. I think with the limited time he gets on the radio show he tries to hit all topics and PR's are more specific. He SEEMS more focused on production now then before though and I'm seeing monies spent in that area to get production off the ground.
Swim, those that got in at 3 and 4's are already near doubling their money here. I doubt they are bitching about it at all. Short term this stock, IMO will double again from these 6 levels within 1-2 weeks. From there, depending on production numbers larger than a trickle will determine how much it goes up from there and how fast. I am always leery of stocks like this but I see the signs setting up (maybe that should have been here last year) coming now. If this stock goes up to .01/share in 3 months you will still likely be here bitching about this stock one way or another. Enjoy life, it's too short!
I've said it before and I will say it again, those that get in to PEII at these levels will be reaping the rewards, moving forward, there will be bumps in the road but 3 months to a year out will be great for those investing now. IMO
6's are getting thin, nice bid side, this is likely to move through the 7's to the 8's today if this continues. Sellers are drying up and will likely pull back to higher levels to realize better gains. Selling here is a fools game. IMO
Yeah, but only 5M instead of 50M, that's a pleasant change.
BID = 96M and growing, ASK = 72M and shrinking... nice. 201M shares traded today, so far. 7's are a possibility today!
To any naysayers that think PEII is not spending money on getting the oil back on line and that this is all just money squandered. Look at the costs to the Texas RC alone to get into compliance on 34 wells there. It cost PEII at least $323,732.00 (per Texas RC data), It's compliance renewal date is 8/2014. The surface cleanups are complete as are the Extension Applications submitted. Once the Extension Compliance Issues are shown resolved (a formality after review of data) then GREEN light for oil to pump and sell. It should be pointed out however that 5 of the 34 wells are plugged and will not be producing oil anytime soon. Still, 29 wells is not bad to start with. IMO
According to Texas RC info., the P5 compliance is DONE and all wells are now compliant. A PR stating that Texas production is back online should come within a few days at most.IMO
Exactly my point, I was being REALLY conservative, I'll go with your figures though. Either way, this is a HUGH development. The P5 approval is a done deal according to the Texas RR site info. Should be a SIGNIFICANT PR coming real soon about it.
This is FANTASTIC! 34 WELLS! Let's say they bring on only 20 wells and the wells are only pumping 2BOD each (that's approx. 110 gallons each/day) which is a trickle, granted, that totals 40BOD folks. That means 40 X $100= $4000/day revenue. That's $1,460,000 annually. It should be no problem to bump up production with the salt water/CO2 injection to over 100BOD, over time. IMO
Pappy, some just don't get it, that was then, this is NOW! Now the wells that were being kept out of production in TX for OVER a year are in compliance and had significant overhaul to each wells equipment. The injection well has been drilled and finished. Granted, it would have been great if this was done sooner but it wasn't. The monies that were spent by PEII over the last year were hopefully managed as correctly as it could have been under the circumstances. They did purchase work over equipment and a drill rig if I remember correctly. In the Radio Show yesterday it was pointed out they now have a subsidiary drilling entity that will become it's own revenue builder by drilling wells, possibly, for other companies. Don't know if anybody else caught what Floyd was eluding to with that. All IMO.
801M shares changed hands today (that's major here) in this little upstart company. Granted most is dilution BUT there are some investors in "bog boy pants" buying hefty positions here. If this keeps up, price point will definitely rise and this stock will gain value. IMO
You did the smart thing and didn't ride it too far down I hope before pushing the eject. There are some who did not and rode this stock down quite a ways, unfortunately. Now, I think, is the perfect buy time on this stock. The odds are in favor of the bold right now. IMO
Here is one of the reasons why I think PEII will do well within the next 3 months and beyond. Everyone is going nuts about the dilution and tens of millions of shares selling cheap on this stock daily. The people BUYING those shares are holding on to them and they are likely "arranged" sales for those big blocks. That tells me that there are those buying, wearing the big boy pants, that are getting in large to make a lot of money. Maybe that's a leap you might say but there are some LARGE buyers accumulating this stock and I'm willing to bet it's NOT to loose money. So, I'm going to "follow the money" and see where it goes. No one is much going to get into this stock at or below .0003 or .0004 very soon. Those who do or did get in at these levels will likely be very glad they did three months from now and beyond. IMO
95 Million shares sold @ .0002-.0004 totally bypassing most of the bid. I just don't quite get that. Then we went into the .0005's and back to the 4's. Wild!
FYI, according to RC of Texas files PEII has not sold a drop of OIL since April 2013, that's a year now. Total production between August 2011 and April 2013 was 1,941 BBL's of OIL @ $100/BBL= $194,000 total oil sales. All revenue they have gotten since May 2013 has been from other sources, pipeline, selling stock, etc. If OIL starts pumping again out of the Texas wells, with stimulation, at a minimal rate of 10BOD; it would EXCEED the best month ever that PEII produced from these wells in the past, (Jan. 2012 produced 243BBL's OIL = 8.1BOD, past best month). Past oil production under PEII's OLD extraction methods was about 92BBL's of OIL a MONTH, averaged, out of the Texas wells. Getting to that kind of oil production A DAY, will IMO be HUGH for PEII.
That's fine but sometime REAL SOON, Floyd needs to start REAL production and SALES of oil to grow this company. Too much has been put on the backs of investors with too little to show for it, to date. For PEII to be a successful enterprise and NOT just another scamming penny stock, it needs to produce and soon. Personally, I believe it will produce, and plenty of it.
There is no exact time frame for things to happen with PEII. To many here are waiting on the edge of their seats for the next little scrap of news to speculate the hell out of. The oil will start to pump soon, as long as Floyd keeps his eye on the prize and does that, most all else will fall into place too. Additional pipeline being added SHOULD add to revenue as well, depending on condition and destinations of the new acquisitions, if they make some. That said, we could get into the .0005's here today.IMO
Now lets see if we get giant block or blocks of 150M shares or more sell/buy into the bid between 4 and 5PM today, that seems to be the recent pattern. Just curious if we are going to see more of the dilution crap since there is 169M sitting on the bid line @ .0003.
Except for that they are looking to buy more gas pipelines, same rain delay different week for OK leases and TX has all the paperwork in and waiting... NO PRODUCTION YET! NO PR should be expected for at least another week and hopefully a DRY week in OK.
Tesla, that's the kind on DD that is needed here. This tells the REAL picture, not the fluff and hype. Looks like work is being done to bring production back on line as promised. Not there yet though, wonder what kind of time lag there is between compliance and website indication of same.
Yeah, doubt we will be seeing 100BOD right away. More likely will be in the 25-50BOD range to start and then increase over time as the injection well increases down well pressure pushing the oil to the surface. Each additional oil field or well put on line will add more flow of course. With proper utilization of the money available to Floyd for increasing production, this should progress nicely, if done correctly. IMO
That is why the only way Floyd can move this stock higher is bring in production in a major way for the money invested to date. 10-15BOD WON'T DO IT! It has to be in the 50-60BOD levels or above, for a significant rise in share price to happen. Those levels are attainable out of only ONE healthy oil well, at pressure. He has significantly more than ONE well to pull it out of, so, there is no excuse not to able to get it soon. IMO Used up all my posts for the day... Happy Memorial Day weekend to all! Hopefully good news next week!
At .0003/share it costs about $150,000 for 500,000,000 shares, that's half a billion shares! Floyd or whoever is selling at these levels isn't going to make much money selling shares at these levels. At these levels if Floyd sold 10 BILLION shares more he stands to only get $3 Million dollars for them (@ .0003/share). Buyers at these levels KNOW that if the share price moves up to .001/share or above; they could make significant money with this little stock. That's why when this stock starts a REAL upswing it will be BIG for those who bought in here in any large quantities. Floyd wants these prices to go higher and soon, IMO.
If this stock is allowed to get its feet under it, from these levels it could easily get to .0025-.0030 within 2-4 weeks "IF" good oil production numbers start coming out (via PR's) and they back off on the share dilution.IMO
459M shares changed hands today, so far. Obviously people want shares in this stock or no one would be buying at any price. Some deeply discounted blocks sold below bid though. We are still holding the .0004 line though, so not terrible. IMO
Only if someone with lots of money starts hitting the ASK side hard and buys a 70-80M share block. Then maybe... but what would get that to happen, PR would be nice gift.
What's the point of 3 cent to $4 trades in this stock if not to manipulate this stock within a range. It's a waste of both sides money but guess they think it will change sentiment artificially to someones desires.IMO