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Check spelling of his last name...
Mdreamer - I can understand your frustration - especially given all the missed dates, timetables, etc....BUT
The underlying growth of BD can not be ignored. Mis-management aside, jumbled piles of financial documents in no specific order bespeak of poor management - not necessarily representing the true potential of the Company.
Let's see what we can learn of the CFO's background.....If he turns outr to be Jayne Lanza's brother...we have a problem, otherwise, he may be just what the doctor ordered. I assume his immediate marching orders are to coordinate the financials ASAP. We shall indeed, see.
Nice to see others doing due diligence with similar positive findings.
No surprises here.
Perhaps the doubters will now excuse the antics of the naysayers....then again...
Never a doubt.
Actually I'm just posting these unanswered questions to keep folks from buying the stock and raising the price....
No wait, I'm really posting these unanswered questions hoping someone will have the answers.
Truthfully, I'm hoping RM will take it upon himself to reveal answers to these and several other questions that suggest the Company's credibility is less than we'd all like it to be.
Soooooooooo many questions........soooooooo much time before the audited financials arrive. And hey, can Malone & Bailey be trusted? Hmmmmm.
I'm looking forward to attending the annual meeting. You know, the one that will be scheduled shortly after the audited results are posted in May, er June, ah July, er August, ah September, er October, ah November, er December, ah January, oh, February?
FWIW, I do believe we'll be LOL when the numbers do get here. LOL, either for the positive financial impact on the stock price, or LOL because of the preponderance of doubt we failed to accept.
If I were a betting man....wait, I am a betting man....
Unusual that a company would list its Directors, with a short BIO on but a few (Michael, Walter Watts III, and Ron Allen.)
Poor Tom Neely, the Co's Secretary/Treasurer doesn't even warrant a single sentence. His background mustn't be too lengthy or not worth mentioning?
Wouldn't we all like to know the Background and Contribution from the other Board members?
Tom Neeley, Secretary/Treasurer (Hmmmm.....)
Monte Anderson (Associate of Lanza's)
Larry Christian (Hmmmmm...)
Joe Radano (Hmmmm.........)
Mario Lanza (Son of Joseph and Jayne - UGH!)
And what do we know about Monte Anderson?
Too much NEGATIVISM on this board - gotta wonder why that is .....
Lots going on at BD - Lots to report on - Lots to wait for -
Patience is a virtue, they say. If you haven't enough patience - due diligence is a viable substitute - and rewards those who chose discovery.
I'm not pumping, and I'm certainly not dumping. Anyone can "learn" what I have about BD, in a matter of minutes - if they choose to.
Or, they can assimilate the electronic garbage that some are peddling, forgetting the acronymn "GI-GO".
Happy Monday!
Onco, What do you know of Stocklemon?
Past experience has told me that site is 100% pure ****.
(Unfortunately, Not unlike some posters on this board)
The seven mile pipeline proposal with Petrol Industries has been undone. My understanding is that BD will not proceed with that build.
Reads very, very well.
I like the recent acquisitions!
News item on CNN - Reporter Fran Greggier reported today that the blond in question, first identified as Marilyn Monroe, and later as Sallie Wingate, is now known to be none other than fugitive Whitey Bulger in drag. The beach in question has been positively identified as being in San Diego.
Upon further research, the man identified as Elvis is really an underworld figure often called "Slow Eddie". His motives for claiming the blond to be Marilyn are now well known.
Sallie Wingate's brother, who mistook the woman in the photo as being his sister has since recanted, and now admits he was once threatened by Bulger's organization for providing evidence in an FBI investigation, and lied to protect his family. He and Sallie are being relocated in the witness protection program.
UPDATE! Another person has come forward who recognized the beach as being different from that as described by "Elvis".
This individual is willing to stake his entire 1996 comic book collection that the beach is not as first reported, but is rather a Louisiana shoreline - some 88 miles from Biloxi. The blond seen in the photo in question is really none other than Sallie Wingate - a waitress at a local diner in Oil City. Turns out that Sallie dies her hair (she is a natural Redhead) and is often mistaken for a young Marilyn Monroe.
The witness is so sure, because Sallie is his sister and he never forgets a face. Guess "Elvis" made an innocent mistake....
So, let's see if I understand this - A Man took a picture of a beautiful blond walking down a beach. Someone identified the beach by the grains of sand and the color of the water. Then he went thru the registrations of the local motel until he found a desk clerk who positively identified the blond in the photo as Marilyn Monroe. So, she lives!
Upon confirmation, the desk clerk shows the inquisitor his own photo of Marilyn Monroe stolling along a beach. Convinced the beach is the same, the girl has to be the same. But wait, there are so many beaches that look alike, and many blonds as well. When asked how he could be so sure, the desk clerk hesitated but for a split second, looked skyward and proclaimed in a soft voice." Because I know."
The desk clerk's name? Why, Elvis Presley, of course.
(sigh)
I imagine if you call BD and ask to speak with their new CFO, you may get an update on the audit status.
Happy Friday!
Read the PR's.
Consider this:
10/18/06 Caddo Pine Island/300 Acres/77 Wells Estimated 18,000 BOE/Yr
8/28/206 Hunter Manning/Spider/1275 Acres/8 Wells Estimated 16,000 BOE/Yr
8/03/06 Hosston Fields/914 Acres/19 Wells
Estimated 12,000 BOE/Yr
8/02/06 Haynesville Field/12 Wells
Estimated 36,000 BOE/Yr
2/24/06 Hosston Field/70 Wells
Estimated 24,000 BOE/Yr
Caddo Lake/19 Wells
Estimated 24,000 BOE/Yr
6/01/06 Hollinshead/4700 Acres/425 Wells
Estimated 180,000 BOE/Yr
6/01/06 Shongaloo & Honare Fields/3 Wells
Estimated 10,000 BOE/Yr
5/31/06 Caddo Lake 43 Wells
Estimated 90,000 BOE/Yr
5/24/06 2 Leases/7 Wells
Estimated 2,600 BOE/Yr
5/24/06 1 Lease 2 Wells
Estimated 7,000 BOE/Yr
4/07/06 20 Wells
Estimated 11,000 BOE/Yr
If my math is near correct, that's some 430,000 BOE/Yr that could be flowing for all of 2007 and beyond. At $60 BOE = $25.8M without any additional growth. It does assume that BD completes the well re-work and drills a few new ones as per the PR's that provided these numbers.
Sorry, fat fingered typist with a sticky keyboardddddd.
The Press Release is yet to be released....
BD's oil production can be found under Four Star Oil and Wolldrudge Production. (Not sure why, yet.)
BD now has a CFO - That should facilitate ongoing financial systems and, of course, an ability to generate audited financials on a timely basis. YAY!
Happy Thursday!
ps; More positive news: Gemini Acquisition is nearing finality.
It certainly is an interesting Company - I couldn't help but wonder in amazement at the photo of BD's cluttered office with file folders everywhere. Could it have been a staged photo to attempt to justify their lack of "finding" necessary paperwork for the audit?
If not, then the total lack of organization is by itself far from complimentary to the company and might suggest a poorly managed organization. (Doesn't make them a scam, just presents them as incredibly sloppy).
Maybe the audit is just what they needed to force a system for accurate and up-to-date record keeping.
Not confirming a scam - rather trying to determine where these BOE are being reported. Acquiring the rights, as opposed to re-registering the operator names, add'l permit filings, etc, may be the answer. Somebody had to originally permit these wells and register as the operator. When BD "acquires" the drilling and production rights (not partial %) does that mean the name of the original or current operator needs to be chnage registered? Hmmmm..
That video w/Hank was not the most convicing - however it was likely produced to show real properties with real wells - allieviating that one concern.
I'd much prefer to see a powerpoint slide show with slides detailing AUDITED monthly progressions of:
# Wells
# Acres
# Barrels of Oil
# MCF of natural gas
# Gross Revenues
# Net Income
ie:
28
----
20
----
16
----
14
----
12
----
10
----
That would make my week!
Happy Tuesday!
Given the fact that they reference so many other companies they are dealing with, the probability of those dealings being as advertised is very real. (Apache, Gemini, Petrol, etc, etc, etc,)
When the time comes, we can all get together and celebrate in the Caymans - what say ye?
Here's something that isn't too funny - a response from the Louisiana Dept of Natural Resources:
>Title 30:128 says: "No transfer or assignment in relation to any lease of minerals or mineral rights owned by the state shall be valid unless approved by the State Mineral Board."
In checking our Office of Mineral Resources records, I don't find a transfer or assignment of state lease mineral rights to Black Dragon Resources.
I'll keep looking - perhaps all their leases are for an interest only, and they are not recorded as the operator.
There may be a reason they went that way...tax purposes, perhaps.
We know they have a 22 1/2 % interest in the 1275 acre Hunter-Manning Lease of Spider field, and are likely not listed as an operator who pulled the permits.
Maybe the fact that pay royalties to the landowners keeps the landowner listed as the operator?
But, the word "Acquisitions" to me, anyway, suggests new ownership. Even at that, perhaps the original permittee remains listed as the operator.
Hillary's husband's quote ("Depends on what you mean by the word "is") comes to mind.
Oh well, next month I'm going to be eating Sixty Cheeseburgers and Thirty Hot DOgs. No, wait. I'll be eating Sixty Hot Dog and Cheeseburger sandwiches on buns. No, wait, Better Make that - my eating run rate at the end of next month will be at the Sixty Cheeseburger and Hot Dog Bun Equivalent rate.
I feel sooooooooooooooooooo much better now.
Happy Monday all!
T'would appear that BD's expectations have been revised downward with no reference to doing so - or why.
Akin to:
Next month I'm going to eat Sixty cookies and Thirty brownies.
Next month I'm going to eat Sixty dessert items.
No...no....I'm going to eat a total of Sixty Cookies and Brownies.
Or was it Sixty Brownies and Cookies....
Wait...I know, it was a mix of Cookies and Brownies totalling Sixty pieces over a two month period....that's it. That's what I said all along. I should run for political office!
NIX! Am I the only one reading these PRS? From BD's own Press Releases:
PD dated 7/31/2006: "Mr. Michael concluded by saying....our previously stated goal of 30,000 barrels of oil per month and 20 Million mcf of gas per month by year end .."
PR dated 6/1/2006: "Combined current production exceeds 18,000 barrels per month and is growing daily."
PR dated 4/3/2006: "The Company expects an audit of its year end numbers to be completed in the next ninety days."
Anyone else concerned that this updated web site also did NOT include the October 3rd Press Release? That was one VERY DEFINITIVE PR....(The earlier version did not have it either, but the Oct 18th PR was shown)
I'm still long and positive on BD, but that 30,000 barrels of oil production by year end has become 20,000 awfully quick. The earlier PRs were clear - 30,000 Barrels of Oil- then came PRs worded "Barrels of oil equivalent" ....
Guess I'll have to wait until 2009 to pay off the mortgage...
(sigh)
Happy Saturday!
Gotcha. A very elusive date to be sure! That just might include all of FY2006 numbers!
I wonder if that's the date it was released (as opposed to taped) ????
Millionairedreamer - Did you happen to ask RM about the audit?
Are we talking about the same video? RM mentioned 325 working wells (out of 1200) and a monthly production of 6000 BOE. Did I miss something?
In August BD stated they had 10,000 BOE and for Sept 12,000 BOE production.....
Based on the dialogue, it would appear that video interview was shot over a year ago. (# of wells in place, # wells producing, Number of BOE, etc.)
According to official LA sources, Black Dragon owns many interests in oil producing wells, but none are "registered" to BD. Makes sense - kind of what I first thought when I couldn't locate any official ownership records.
The land owners, the companies they are acquiring the leases from, are shown as the operators, based on permits granted over the years.
New wells being drilled may not be a different story - as they are being drilled on land (rights) already leased to others - new wells could be included in the original permitting requirements - just now being drilled.
I'M DYING TO SEE THE AUDITED FINANCIALS!!!!!!
I'm awaiting word from the LA Dept of Natural Resources re Black Dragon. Per my request, they are researching. As soon I have it, I will post.
One amazing news article on oil:
http://www.oralchelation.com/faq/wsj4.htm
3/13/2006 PR: BD announced : "..it was now the 22nd rated oil and gas company (out of 589 production companies) in the state of Louisiana based upon production. The Company, due to its rapid growth, moved up from 104th in 2003 and 60th in 2004."
I wonder if the leases are in the names of the land owners...
I couldn't find a BD reference on that LA Resource site either.....odd.
Onco, Nothing I've seen has changed my mind on BD. The audit will eliminate all doubt.
Then again, No audit will also eliminate all doubt....
Happy Monday!
Onco - One clear suggestion. PLEASE - Do your own due diligence - then you can see right through those who are, shall we say, having ulterior motives. Please do.
There you go - inclluding the 1st THREE Quarters of 2006!
Can you say: YABBADABBADO?