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@ 5 feet per hour we would still have 4 more days to 7,200 feet, which I understood would be the bottom. Then the rig has to move and the testing vehicle has to come out and test.
If we were to hear in 5 days from now, I for one would be impressed. I still expect a week. (Not pleasing to some, but MO.)
So, a PR Fri the 15th or Mon the 18th would be what I expect.
I hope this helps.
Now you are on shaky ground.
His free shares were not given but earned. I will let him inform you of how you can buy 1M at .02, sell 1/2 at .10 and keep the rest for FREE! These are called free shares.
He can give you the specifics.
Now, to come here as a newby, full of accusations, full of strife, is, well: unwise.
You are making my first post to you look true.
Thanks for the kind response. No more bashing.
Your point of manipulation stands, but from following Earl's postings for a while it is high unlikely. He's not stabilo. He's been around for a long time.
Accusation are not good to post, facts are.
Lies are right out (said with a Monty Python flair).
Welcome to the mayhem.
I think Allupinmygrill looks more like Stabilo, a new alias started yesterday!
Just more possible than his explanation.
Dioblo, no real argument with you there. I too want reasonable updates and agree, we should get them. I just don't want the stuff that happened with the Hardeman. I think Tom handled that one just fine. The PR came when it needed to and it came immediately.
OT: I'm no expert here, but on land, I don't think you can directional under someone else's lease/property. Again, I could be wrong on this. But the mineral right go with the property. I think you can directional, but you would have to stop at the lease boundary. If a pocket extends under both, I think you are correct, you can drain it from your drill on your lease. That would be normal. But I don't think you can drill past the lease boundary. Just some thoughts.
Kingman, you effectively nailed a very important point. Leases.
EDEX is trying to build a company. The Mesa project is only one part of this whole picture. When we as a board create the problems and demand of Tom for info (for our short term interest and impatience) we are shooting ourselves in the foot. I have spoken with Clayton from GeoSurveys and this issue was a thorn in his side!
If Tom announced prematurely, it can affect all the leases in the Mesa area that have yet to sign up. In addition, all the big boys are paying attention! and waiting with instant cash and paperwork for all the unsigned leases!
I commend to this board to let Tom and EDEX do their work on their timetable. We will all profit MORE should we do this!
I call it the Stabilo PR. What a shame and reality that the squeaky wheel gets the grease. Here is another reality: A man reaps what he sows, good and bad. So Stabilo, if you were manipulating, I don't want to be you. You will have a rough life! If you were just responding to bad info, learn a lesson.
I mentioned a few days ago that after the well is drilled it still has to be tested. What Tom or the drillers think has no bearing on the wells potential productivity. Hardeman was a case in point. It looked productive from the logs but the post drill testing/proving showed otherwise! Tom did the exact right thing by waiting to release the PR with correct facts, while many fretted and hurled unfounded and ridiculous accusations during the wait.
The fact is that we won't know for a while yet!
Lowman, what was I thinking? Reality, bitter reality, but reality none the less. I know it was not a pleasing note, but my philosophy is that if we operate in truth and reality, we will do better. The past couple of days have born this out IMO.
If we hit, this will all be water under the bridge, happiness abounding. If we don't, then bitter tears all around. I'm in till the final PR based on my DD.
As always, I wish to thank Lowman for all his excellent work on this board! Thanks, you ‘da man!
I recommend to all who are tired of the lies to click on post 12248 from Stablio and then further click down right on TOS violation and report this post.
It is a flat out lie as they are still drilling.
Let all who wish help this situation.
Yes, we are all entitled to our opinions, but this was not opinion, it was a flat out TOS violation.
Dry hole is plugged?
They are still drilling!
I hope Tom finds you and you go to jail.
1. Bring it up on screen and click your Ctrl and your Prt Scrn buttons at the same time.
2. Open up your paint program and paste it. For most windows, Alt +E and then press P and it will paste. Crop it and save it. Remember where you save it.
3. Up load it online. I use tinypic.com. Follow the directions.
4. Copy the url link, open the I-hub box and use the Ihub formula with the word chart inside these brackets [] and your link and then the other end one with /chart and the brackets. (I can't show you at the program picks it up as a chart and shows the X pic box. Use preview so that you can be sure you got it right. Don’t forget to delete the http//: intro. (At the bottom of the I-Hub box you will see a link for directions and hints. Follow it and it too will give you this last part.
I hope this helps.
If anyone believes this post, I have some swamp land to sell you! This clown is a _________________.
Facts:
1. Even if they hit gas and know they have gas, they will not know if it is or is not a producer until after the drill is pulled and readings are taken of the hole section by section. That info will not be know for a while still!
2. This is exactly what happened at the Hardeman site. They thought they had oil and a producing well. The pr was written as such. Tom correctly waited before putting out the pr (getting everyone's hopes up) until the results were verified and the well tested for production. The well had oil, but it did not show enough porosity to produce on a commercial level. (Kinda like Swiss cheese without enough holes in it. You have Swiss (oil), but not enough porosity.) Tom then had to rewrite the pr late at night and then he put it out before then next morning. Then and only then did EDEX know the results and we were pr'ed within hours. (BTW: PIP did exactly what it was suppose to - it found oil. One still has to drill to test production possibility.)
3. There is no way at this point for anyone to know the MESA results at this point. Period.
Can Tom put out a pr stating we show gas? Yes he can. Should he? Well, that is up for debate. (Well qualified gentleman such as Badge would say he should.)
IMO he should not! He has already been accused of manipulation and fraud by many for waiting for the results of Hardeman before putting out a pr (within hours of the results btw!). If he did put out the pr from Hardeman saying we had oil, and then posted the official results later stating we have a non-commerically viable well, he would be ripped apart as doing this solely to sell shares based on a non-producer! Think people. The members of this board rip him for his honesty and caution, putting out a pr when it is due, at the first possible moment, how much more if he were to put a pr out that show a preliminary, and then have to post a pr of the opposite. Be honest here, what do you really think would happen on this board. Yea, I thought so. Therefore, I would do the honest and above reproach thing by waiting until the official readings post drilling.
The original point of this diatribe is that Stabilo is (IMO) ripping off shares by spreading lies and deceipt over that which he does not know. He just wants your shares.
Whether EDEX will hit a producing well is still to be seen.
There is a reef formation which is producing to the South and showed major gas pressure from the East. PIP identified this field before the written detective work confirmed the gas. I think we have a great shot at finding gas. Oil to me is just a plus. Ultimately, time will tell and I expect to patiently wait for the final facts.
I disagree.
We have a small Hydrogen Research company that we investigated taking public thru a new issue or thru a reverse merger.
The least expensive option, working thru a group which specialized in this service was over 750K! I called 2 different companies and spent time inquiring both ways. This was the bottom line amount.
If you can find a clean shell for us to R/M into, let me know. For your prices I will buy it!
Badge, I hope you are right! I hope he does toot a PR and update his current findings.
However, fresh off the Hardeman, which did not turn out like he was thinking, he might be a little gun shy.
On the other hand, if we have a hugh blow out of gas past the 6,000' range, I think you will be right.
If he does, good. If he choses not to, then I will have no problems as I am not expecting one.
My point is trying to stop all the goofyness that happened when a PR from Hardiman was delayed! We as a board are better than what happened! At least we should be.
Personally (IMO) I think that everybody needs to chill.
I called and we are still in the 5,800' depth. Drilling is going slow and I forsee no PR until after the total depth of past 7,200 and deeper if they show oil at that depth. At that depth we could slow to 100' per day which is what happened at the Hardeman and was one of the reasons it took longer. (Look at the trouble and speculation this caused all because of the longer time it took. IMO, nothing good came of it, so I encourage us not to have a repeat performance.)
After this, we still have to get an independent reading of the hole and that could take a few days.
I don't expect anything for over a week at the best. Reality could be that it still is 2 weeks away for an official PR of the resutls. Till then, I am just waiting patiently.
All the hope/hype of PR's this week doesn't help the emotions and pointless/fruitless speculation on the board.
Hoping I am wrong time wise.
Near end of 12/2 5,400 feet down.
Still a ways to go.
OT: Ron Depriest beat Chuck Norris is 3 out of 5 matches as a champion kick boxer! He has a life story book out called "Loco." Its quite an incredible read.
Chuck Norris jokes however are much funnier!
Found it.
EDEX -- Eldorado Exploration, Inc.
Com ($0.001)
COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
Eldorado Exploration Well Results
IRVINE, Calif., Nov 29, 2006 (BUSINESS WIRE) -- Eldorado Exploration, Inc. (PINK SHEETS:EDEX) announced today that the Sparkman well in Hardeman County Texas has been plugged and abandoned as a dry hole. The target zone had oil shows in drilling, but had very little permeability and would not have been a commercial producer. Eldorado had a 5% working interest.
The company's Mesa well being drilled in Roosevelt County, New Mexico is at approximately 5000 ft. in depth and is expected to reach its first targeted zone at 6100 ft. sometime this weekend. The total depth of 7200 ft. would also allow the well to test the Montoya Dolomite zone at 7000 ft. Geology studies indicate the structure to be primary gas bearing with possible reserves of up to one trillion cubic feet. Eldorado has a net 33% working interest in the Mesa well and 11,300 leased acres covering the center of this very large reef based structure.
Eldorado Exploration, Inc. is an independent oil and gas company that utilizes a process called Passive Induced Polarization 'PIP' to detect electrostatic signals given off of some geological anomalies. In most cases a positive response indicates a hydrocarbon accumulation and a negative reading almost is always a dry hole. When used with the standard geological tools and methods, the PIP process enhances the odds of success for discovering oil and gas.
For further information about the company visit www.eldoradoexploration.com or email at eldoex@yahoo.com.
Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that Eldorado Exploration is a non-reporting Pink Sheets company and is not required to be registered with the Securities and Exchange Commission.
SOURCE: Eldorado Exploration, Inc.
CONTACT: Eldorado Exploration, Inc.
David T. (Tom) Laurance, 949-916-0680
www.eldoradoexploration.com
Copyright Business Wire 2006
-0-
KEYWORD: United States
North America
New Mexico
Texas
INDUSTRY KEYWORD: Energy
Oil/Gas
SUBJECT CODE: Product/Service
Agreed, salary is way too high for 2. My questions still stand about who/what. This included Tom. I don't have the answers for my questions, but I am comfortable. I understand it takes capital and $$$ to run a business.
Obviously, others are not comfortable. Fine. NP. Each of us have our own comfort level. Financials are to be looked at. Agreed. Just look at them thoroughly and ask questions.
Obviously, some are not comfortable with dilution. Some are not comfortable with dilution for leases. NP.
If you choose to dump and go, then do it. NP.
Best wishes to all.
Let me be very clear here. This will be my last post concerning this subject. Rest easy Dawg, I do wish you the best and announcing I am done with it. The last word is yours.
For any wondering, the rest of the salary goes to me (LOL). For those who understand the LOL: I am a shareholder. Nothing more. I just am more comfortable than others with my research.
Dawg, please provide a break down of salary vs. assuming who got paid what.
Notice, I am not assuming anything. I actually am looking for facts.
I also run a company, a seasonal company. From Jan '07 to April '07 I will not be paid any salary. Yet, my company will have salary listed as an expense for all my employees. Go figure. I'm glad your not my auditor.
What did Tony get paid, what did Calvin get paid? What did Robert or Dave get paid? What did Tom get paid? Need I go on?
Again, who got paid what? Until then, its all assumption. My assumptions I am keeping to myself vs whining about them.
Dawg, point taken. And its a good point. No argument that there has been dilution. Even, that there may be future dilution.
But you must address the whys and what did it buy us. Overhead? Expenses? A vacation for Tom? Leases? more leases?.... This is what I see you not addressing.
Here is a thought: Why not quit arguing about it here and call Tom and ask him directly. Please do this. I did. I encourage you to do the same. Ask him what shares bought what leases, and why those leases?
Otherwise, you are boxing the air. Rather than asking us: "How much did the company receive for it?", ask Tom. Obviously WE DON'T KNOW. So go to the source. IMO, you look like sour grapes. You deserve to know, so go to the source.
An honest assement, an accurate assesment, of somebody looking for a 3 letter stock, somebody who might have failed to ask all the "whys" to the numbers.
Dawg, this is wildcatting. Lest you forget.
It's the possibility of 1T or more cubic feet of gas that this stock is about, not the "numbers only". It is also about future leases and company growth.
Context buddy.
So, you must be "kidding" us about your riding off into the Sunset.
One last question, do you know how much of the dilution has gone to purchase leases? Until you can factor the use of dilution, you should be careful about slinging the stones you are casting. There is much much more to the story than the accounting only you have listed. Those who see only numbers loose the painting.
Those who see only numbers will pay over a $1.00 for this .13 stock. This is fine for anybody who wants less risk. NP. But before you rain on somebody else's parade, you better get all the facts and understand their ramifications and future results. The lack of future understanding and vision costs many.
For all those who still believe that the world is running out of oil very shortly, here is a great link.
http://www.realcities.com/mld/krwashington//16012061.htm
Dawg, Thanks for the reply.
First off, I was speaking of pps. in the things I mentioned. To me the pps is where the rubber hits the road. You will notice the context: .30pps. So when I say "value" I am refering to pps as opposed to book or other types of value.
Rather than parse your response, and off the top of my head, I will just respond to a couple of things I see immediately.
You beginning point is a serious miscalculation of what I meant and was trying to present. $87+M profit for each well. Be serious. I never had this silliness in mind. But this is the entire basis of your response and your suppositions from which you argue. I reject it, as I never said or even implied it. Your running numbers following without running a calculator seem correct, but it is all a strawman. A false argument only with yourself, not me or any of my projections.
Secondly, you run no multiples at all for any P/E ratios. This also shows that your response is non-reality based. Any serious response would include these. I know EDEX is currently a non-dividend paying pink, but this is not my projection of what EDEX will remain. Over and over I have mentioned the paying of dividends by Tom. Any comments I make about pps (value) should include this context and my post was no exception. But this said, and I will cut my reply short as I have other pressing matters to which I need to attend.
So, even using your numbers, which I disagree with, but using YOUR numbers, at .03 cents, a normal P/E ratio, of a normal dividend paying stock can be placed at 16. (Sixteen is a normal and conservative number.) Using your numbers again, a dividend (profit) of .03 x 16 = .48. So, even using the numbers you presented, which I disagree with, bring us to .48. My comments of .50 is not that different. So I see no further reason to argue with you about it.
Are we there yet, no!, Does EDEX pay dividends? No. Will we? I think yes as I’ve stated many, many times. Do my projections include dividends and PE ratios? Yes they do.
Thanks for confirming my numbers of .50. This said, I apologize for the lack of context I failed to mention and to which you responded. I hope this gives some indication to a fuller understanding of what I both meant and the thoughts in my faulty brain.
I wish you well, and again, it is my sincere hope that you have to buy at over $1.00. (Please, this is in no way a slam or insult, it’s not. It is however, a projection of what many of us see that the price should achieve should we hit the Mesa. You see Koolaid, we see $1.00+.)
Enjoy the sunset, as they are meant to be enjoyed. If you do, life will be good and in balance. Enjoy.
11/22/06 6:47:10pm
Sorry Badge, I bow to the Master! Tha'd be you.
I'm just a puppet who can add 2 + 2 and get 3.
Thanks Badge. Word taken. We can all WAG all we want. Ultimately, the proof, the reality, the future will all be known in a month. Whether we guessed wrong or right, will all be known shortly. That said, I offer this instead:
Some thought material for the weekend:
Facts:
MESA:
Gas/Zone
1. Producing Gas wells at the southern end.
2. Drilled in 1946 and capped due to the expense of production at .10 per gal.
3. 1946 well could not be pressure tested as the pressure blew out their meters and equipment.
4. Reef formation 25 miles North to South, 3 to 4 miles East to West.
5. PIP identified gas at the Southern end where producing wells are located.
6. PIP readings “off the chart” as Tom puts it in the area we will drill.
Drilling:
1. Tom said we would drill the Mesa. He staked a lot and risked a lot for this to happen.
2. It took a LOT longer to drill than Tom expected.
3. We are drilling! Which is the point. We are drilling.
4. We should know the results by the end of the month.
PPS:
1. .14 to .15. A ridiculous amount for the positive upside potential of 1 to 4 trillion cubic feet possible.
Bonus Features / Not facts:
1. We are currently drilling the Hardeman drill. Success at this one 5% drill should put us at a value at least .30pps.
2. Each subsequent drill at this lease should bring us up .50 or more per well.
3. There are two more sites west of the Mesa that show similar gas potential. Each easily worth $2pps to $4pps per site.
4. Hitting the MESA easily values us at a multi dollar level. For example: It has been stated many times that when we prove the field with 2 more drills, the field, if it only contains 1T cubic feet should sell for $400M to $600M. At less than 200M O/S shares for EDEX, this values us immediately at ??? You run your own numbers and results. My ultra conservative numbers add up to a minimum of $2.00 a share with no multiples of value built in.
5. (ALL IF’S) If the Mesa hits and Tom does sell at $400M – a low figure, extremely low, than he can give a dollar dividend and still have millions for drilling! I would be a fool to sell. Why sell at a dollar, or even a buck and a half if I have a dollar dividend coming AND still get to (as Tom put it) “keep all my stock?” I’d be a fool! Here is reality: I ain’t no fool, especially because, if a dividend comes the value/pps of my shares will rise 6x to 9x conservatively.
Call these pure pump if you wish, I will just call it one possible DD scenario which should be considered by all EDEX shareholders. On to Mesa results, because pump aside, this is where reality will hit and our futures be told. We will know in a month.
Either they are totally honest and really just negative OR they are purposely trying to get others to fear and dump and buy their shares.
One is just sad, the other much, much worse. Either way, this is not the stuff of LIFE!
Gadawg... I have review your posting for EDEX. You have made an excellent decision. You were never positive in any posting concerning EDEX.
Never on Tom, the rig, never on the drill, etc. You have your reward and I am glad.
Hope to see you buying at above $1.00pps. I also hope this makes you happy as your prior post show vividly your discontent.
Sorry about the medical stuff and hope other things go well.
I had a friend who had one of those '71 Newports. Went for many a drives in it. Beast of a car. He nailed a bear at 70 mph in it. He figured the bear went from 0 to 65 in a split second. Jammed the whole front end up to the firewall. Man, it was a wreck. He got some cool photos and a bearskin rug out of the disaster.
Thanks for the kind reply. Good luck to you to.
HA, sorry for your bad experience. Really. But, "Gee." You're not the only one. 40,000 in CMKX or more. Do you need a list? Do people lose? Yes. That is part of investing.
Being in the pinks, it is the norm! We know this.
That said, its not an issue of someone that "beat to market". Please do some research. Ever hear of OmniTrader? Ever hear of Investors Toolbox? They both have similar programs. We've listed others on past posts. Beating someone isn't the issue.
Having a better product is. Stay focused here: "Better Product." This is the issue.
What anyone is doing by investing in this stock is gambling that we have either a good, or great product. If it turns out that we do, we will make money. If, on the other hand it turns out ours is lousy, we can still make money based on marketing and other issues. If it stinks, we lose, or as you put it "you are caught holding the short end of the stick."
So lets review:
1. People lose in the market - every day. Not new, not news.
2. Lots of companies have already beaten Spooz to the market.
3. The issue is a "better product.: If its great, it will sell like wildfire - we all get rich. (Note: probably not your friend CD who probably dosen't even own it.)
4. Even if it is an OK product, not even great, we still can turn a profit and make money on our investment.
5. We are in the pinks, losing is what is normal.
PS: and yes, you give bad vibes. Please stay away from movies like Chicken Little, or The Boy Who Cried Wolf. They may upset you too much.
PSS: Please consider only 3 letter stocks. This would be the swimming pool appropriate for you. You'll be safe, secure and happy. If not, drop the scare tactics.
Dear CD (change diaper?)
Please sell and move on. I appreciate your paying attention to this request.
Your constant dribble is both tiresome and IMO, quite immoral.
Unlike yourself, I have called the TA and found out the numbers. Yep, I was the one. I have called again and found out a month later the numbers the same!
Therefore, go crawl back under the rock you call home and give us a break. The facts DON'T lie, however, you are looking as one who does.
It is (please read this many, many times, using your brain cell) no longer 'in your opinion.' It is fact. The numbers from the TA are the same!
So, cut the crap and face reality and quit it or sell and move on.
I, for one hope the company sues you and takes your rock. I will be in contact with the company for your misrepresentations and encouraging this action.
Again, its fact. Deal with it.
At this point, you are screwing with MY investment! I don't appreciate it. I have not done anything even remotely illegal. You on the other hand, IMO, appear to have done much. You are playing a dangerous game, and I don't appreciate your bashing my investment.
You've been warned.
Link please?
Lowman, I'm Scottish. I resent that reference! (LOL)
Poker, I'm sure the opinion you just voiced is shared by many on this board, me included! I agree! Yours is very reality based!
Wildcat, no, you've not heard about it. Its still kinda top secret. You will have to call Tom and discuss it.
It is not Mesa or any Texas drill you've heard of.
Tom's words to me was that "if it goes, it will make the Mesa look like small potatos."
Considering that if the Mesa hits, we could be a multi-dollar stock, it is indeed a large vision, yet, if the Mesa hits, one that EDEX could undertake.
There, now are you curious?
Gas is expected around 7,000+, oil is expected at 8,000+, we are going thru the expected gas zone, in case there is also oil below it. I hope this helps.
Nice post.
Don't you just hate it when facts mess up a perfectly good argument?
I do!