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David...these are new documents turned up since the one's you found a couple weeks ago?
Anyone is welcome to admit a mistake. Thanks for being honest about it. Maybe those who were shaken out by your initial comments will want to reconsider and get back into this stock while it's still a bottom play.
jc
I bought a million dinar , gosh,I bet when they first went to the new currency. It's been about four years or so ago? Hard to remember. Anyhow, it's interesting to see a board for the dinar.
jc
Rocket, just assume the TEAM merger is not happening if that will make you feel better or make you more warm and fuzzy...whatever. LOWMAN asked and was told it will be a majority interest as in greater than 50%. For my money, the scoop LOW has been getting has been right on. It is very obvious that Rees has the smarts to see the coming boom in small domestic O&G and he is trying by M&A to get as big a piece of the service segment as he can in as short a time as possible. The owners of the companies joining up with WRNW apparently see that too. Do we have 100% assurance that this is going "to the moon" and all that sort of stuff? Of course not. But the oil and gas is out there, that is absolutely undeniable. Small operators account for 90% of the wells in this country, that is undeniable. Technology, improved methodology and rising prices are causing the resurgence in opening both old and new wells, that is undeniable. These facts are supported by an abundance of independent data. The acquisitions Rees is making as well as the service company WRNW already owns are not promising to go out and drum up work...they are working and bringing in revenue NOW. They are claiming rapid growth NOW.
So people can quibble all they want to about the PR's or about the size of Rees' office. But the way I see it, I am up 300% because I got in early and the stock is just getting started. It is not behaving with any weakness. Last week some questionable characters tried to shake things up to the extent they were banned from the board by an IHub Mod. For all their efforts the stock bounced back. This week others are playing the same game, yet the stock is doing fine. Yesterday there was no "selling the news". I am sure these games will continue but I don't care. If and when revenues from current and future operations become known one can only imaging the possible returns here. We all know what a non reporting pink sheet stock is. There is and never was any transparency. And yet certain love to appear on the boards at opportune times to inform us of that as if anyone doesn't already know. And if they don't know, they have no business buying these stocks anyhow.
This is not like many pinks I have seen before. It has weathered the storm of early notoriety and settled at a good starting point. From here on out I wait to see what kind of numbers come in from these various operations. I am content to sit back, relax and see where it goes. No use in getting an ulcer over the lack of instant info, I knew it was a pink when I bought it. It isn't going to start behaving like a big board just because I now own some.
jc
LOWMAN, thanks again for bringing this company to my attention. Two mergers with successful private service companies is just hitting it out of the park. Before I took comfort in the knowledge that TEAM must like what it sees in Mr. Rees and his game plan. And now we have yet another endorsement with Cementers coming on board. I hope Rees builds an unstoppable juggernaut before this domestic O&G sector really takes off. No matter who drills, reworks, caps, whatever...not only do we have our own leases, but we can provide services to anyone else. It's friggin' genius.
jc
Another BINDING LOI with another successful PRIVATE concern.
I am loving this.
jc
Yes, every Oil and Gas start up company in the past owned it's own high rise office building. We all know that.
Hey, I was in the Boone Mall not long ago...lots of rinky-dink outfits sharing that building like JC Penny, Gap, Starbucks, Radio Shack, Dress Barn, Bath & Body, etc. & etc.
What up wid dat??? They must all be trying to fool us!
LOL
Nice article from MSN.Money
**********************************************************
Oil stocks to buy as gas prices plunge
Ignore the short-term seesaws and face the fact that higher prices will come back. Then hedge your bets with stocks that will go up when gas does.
By Jon Markman
Crude-oil prices have plunged in the past four months by 25%, a move that has punished energy speculators, delighted SUV owners and pushed alternative-power ideas to the back burner.
If you think the price plunge is too good to be true, you're on to something. Analysts who have been around the block a few times say we almost certainly have not heard the last from the folks who brought us $4-a-gallon prices at the pump -- and suggest you make plans now to deal with another round of energy shocks over the next year.
It's not my job to recommend that you trade in your Hummer for a pair of walking shoes while the used-car market is hot. But I can strenuously recommend that you consider buying shares of some of the energy stocks now while they are on sale.
You might not like the idea of investing in opportunistic profiteers such as ExxonMobil (XOM, news, msgs), which earned a mind-blowing $10.5 billion in the third quarter on $99.6 billion in sales. But there are many other energy stocks that are less offensive and look like compelling bargains right now. With any luck, they'll help you counterbalance nasty fuel-price increases in 2007 with nice investment-portfolio gains.
Before going on to my picks, though, I need you to lift your head up out of the present and gaze to the horizon. Don't look at the month-to-month changes in crude-oil prices -- which are governed by all kinds of crazy short-term factors, including U.S. electoral politics, Nigerian hostage crises and the weather -- and instead focus on a set of indisputable facts:
* Worldwide demand for crude oil in 2000 averaged around 75 million barrels a day, according to the International Energy Agency.
* Today, demand is about 85 million barrels a day.
* By 2012, the International Energy Agency estimates, rising economic growth in markets such as China and India will spur demand to around 95 million barrels a day.
* Worldwide reserves are declining by about 15% per year.
Those additional 10 million-plus barrels a day needed by the world in six years will have to come from someplace new. The leap from 75 million to 85 million was actually not that tough, as higher prices shook loose excess capacity from Saudi Arabia, Russia and Africa. But the next gap in production is expected to be a lot harder to fill, as explorers will have to drill deeper into the oceans, slash deeper into equatorial jungles and blast deeper into Arctic tundra to find it. Forces of nature gave us lots of rich fossil fuels to burn, but in a sort of big cosmic joke, they put most of them in very inhospitable places.
More from MSN Money
Gas pump © Comstock
* 4 sweet stocks from the oil slump
* 7 stocks for a cold winter
* Big Oil's 10 favorite members of Congress
* 3 stocks for a world running out of oil
* The oil world's new bullies
If you're a gambler, the best way to bet on greater world energy production is with small oil- and gas-exploration companies. But most of you won't want to go that speculative route, as their share prices tend to shoot up and down with volatile oil prices. Instead, you need to take this opportunity to buy shares of the companies that provide the rental equipment, chemicals and engineering know-how that make life easier for the explorers, because these companies get paid whether wells work out or not. Such companies are known as oil-field-services providers, and they are really cheap right now.
I'm going to recommend two big, steady companies whose stocks have a good shot at rising 50% over the next 18 months and two well-managed but little-known small companies that have a shot at doubling or tripling over the next 18 months.
Service master
Let's go with the potential triplers first, since that's where the greed lobe of your brain perked up. First is Allis-Chalmers Energy (ALY, news, msgs), an acquisitive Houston outfit that offers a range of drilling, production and rental services in the Gulf of Mexico and Latin America, focusing on services its larger competitors have abandoned. Allis-Chalmers helps with tasks such as horizontal drilling in Texas, changing out drilling pipe off Louisiana's coast and providing the coiled tubing needed to snake down a gushing well to inject anti-corrosion chemicals. Demand for these services is growing faster than new drill-rig construction as oil companies attempt to maximize output from their reserves.
Allis-Chalmers has been successfully acquiring private businesses to fill these niches and helping them work together as a unit. Its savvy, frugal executive team has acquired 14 companies in the past five years, including two in the past month, with complementary services that are expected to boost earnings per share immediately and not just add revenue. These acquisitions have provided Allis-Chalmers with tremendous cross-selling opportunities -- such as selling compressed-air drilling services to a company to which it's renting pipes -- boosting its return on capital toward the impressive 20% mark.
Just a couple of analysts cover the company, and earnings have regularly blown away expectations. For all of 2006, analysts are expecting earnings of $1.72 a share, a 236% jump over last year. For 2007, analysts are projecting just a 19% growth burst to $2.04. But I think that after the two recent acquisitions, the number will be more like $2.20. If that comes to pass, then the forward price-earnings multiple is just seven, which is crazy cheap. David Anderson, whose hedge fund Palo Alto Investors has owned shares in Allis-Chalmers since 2004, said he thinks the company will come to deserve to trade for 15 to 20 times its trailing 12 months of earnings, which would put the stock at $30 to $40 in a year and as much as $60 to $70 in three years.
If you forget all the other stats, think about this one: It costs about $40 billion in drilling and services to develop a million-barrel-per-day oil field. The world needs at least 10 of those. Case closed.
Doubling profits
Next, more quickly, is Flotek Industries (FTK, news, msgs), which provides proprietary chemicals and tools to oil drillers and miners. Smaller even than Allis-Chalmers, with a market capitalization of $175 million, Flotek last week reported a fantastic third quarter, with earnings up 100% over last year due to higher sales and improved margins -- a double whammy. The stock is selling at a paltry trailing price-earnings multiple of 10 despite growth in the 50% to 100% range. Now trading at $20, it should go to $40 over the next 18 months. Anderson's Palo Alto fund is the leading institutional holder of Flotek, as he thinks the company has exercised financial discipline, reaching 20% return on capital.
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As for the two big caps, well, it doesn't take a lot of imagination to recognize that industry stalwarts Schlumberger (SLB, news, msgs) and Baker Hughes (BHI, news, msgs) are growth companies in what has come to be perceived as a cyclical industry. Despite terrific third-quarter earnings reports from both last week, they're trading 20% off their May highs. Both fetch forward-looking price-earnings multiples of around 15 despite earnings growth likely to stay in the 18% to 22% range for at least two to three years. Shares are truly undervalued at this level and will catch a spark from any spike in oil -- so start buying them now and grit your teeth in the face of any near-term volatility because you'll have two big winners on your hands in a couple of years.
If you think oil is going back to the $40s per barrel, then you can forget these ideas. But if you think, as I do, that the Organization of Petroleum Exporting Countries will defend the $55 level and that world demand for energy will remain steady or grow over the next decade, keeping pump prices high, then investments in oil-field-services companies are the way to get your revenge.
Fine Print
The runoff election in the Democratic Republic of Congo seems to have gone well so far. My Congo play, the tiny gold miner Banro (BAA, news, msgs), is up around 20% since my July 12 column, "Congo could turn out to be a gold mine." I still like the stock, as the company has repeatedly increased its proven gold reserves. … In my column "3 stocks for the 300millionth American," I highlighted the fast-growing fitness-facility provider Life Time Fitness (LTM, news, msgs). It announced blowout numbers last Thursday and popped 6% to an all-time high. Shares will consolidate here, but I still think it's going to be a great long-term growth story, with high returns on capital and tons of square-footage growth capacity. … To learn more about the International Energy Agency and its forecasts, view its Web site here. … To learn more about Allis-Chalmers, go to its Web site here. … To find out more about Flotek, click here. ... For more information about Schlumberger, visit its Web site here. This page is particularly good at explaining the growth potential. … If you have $1 million or more to invest in a small-cap-focused hedge fund, check out David Anderson's Palo Alto Investors. Outside work, Anderson contributes to an energy-focused blog called Dave's Energy.
Jon Markman is editor of the independent investment newsletters Strategic Advantage and Trader's Advantage. While he cannot provide personalized investment advice or recommendations, he welcomes column critiques and comments at jon.markman@gmail.com; put COMMENT in the subject line. At the time of publication, Jon Markman owned shares of ExxonMobil.
...Actually 11% currently...but who's counting?
Locate Industry by Company
Enter Symbol:
Independent Oil & Gas
Industry Statistics
Market Capitalization: 543B
Price / Earnings: 11.0
Price / Book: 2.6
Net Profit Margin (mrq): 16.2%
Price To Free Cash Flow (mrq): -11.5
Return on Equity: 21.8%
Total Debt / Equity: 0.6
Dividend Yield: 1.5%
You are one funny guy. They do not share an office with anybody. They have an office in the same office building in downtown Tulsa....but then I suspect you know that already.You funny guy! You make things up! What up wid dat??????
You are making your entire projections on this one lease package. They have numerous lease packages (see the IBox) as well as owning an O&G services company. This does not include TEAM , an O&G services company which WRNW is in the process of acquiring majority interest in. TEAM alone is a $13+ Million a year operation. And it is not accurate to use only oil. The Birdsall lease is producing natural gas. So you need to include Oil, NG and Service Company revenues...not just oil from one of the leases.
jc
Keep in mind there is no hype from the company. It's all chat board stuff.
Low volume days like this and we aren't going down...I say the MM's are doing us a favor.
WASHINGTON - Orders to U.S. factories surged in March by the largest amount in a year, an encouraging sign that the recent slowdown in manufacturing may be ending.
The
Commerce Department said Wednesday that total factory orders rose by 3.1 percent in March, pushed higher by a big jump in demand for commercial aircraft and the biggest rise in the category that tracks business investment in new equipment in 2 1/2 years.
The increase was far better than the 2 percent figure that analysts had been expecting and offered hope that manufacturers were beginning to experience rising demand after a recent weak period brought on by troubles in housing and auto sales.
The good news on factory orders followed a report from the Institute for Supply Management that its closely watched gauge of manufacturing activity rose to 54.7 in April, the best showing in 11 months.
The index had dipped below 50 in November and January, indicating the manufacturing sector was contracting, as companies trimmed inventories to cope with the serious slump in housing and an overhang of unsold autos.
The improving data has prompted some economists to say that the worst of the manufacturing slump may be ending.
For March, the government said that orders for big-ticket durable goods rose by 3.7 percent, even better than a preliminary report last week which had put the increase at 3.4 percent.
Orders for nondurable goods, items like petroleum and chemicals, rose by 2.3 percent, the biggest gain since January 2006.
The economy has been in a significant slowdown for the past four quarters, reflecting a serious slump in housing sales that has forced builders to cut back production and lay off workers. The domestic auto industry has also been struggling to cope with slowing sales.
The 3.1 percent rise in total orders followed an increase of 1.4 percent in February and a huge 5.7 percent drop in January. The March gain pushed total orders to $400.2 billion on a seasonally adjusted basis.
For March, the increase was led by a 38.1 percent surge in demand for commercial aircraft. Orders for primary metals and industrial machinery were also strong. But demand for household appliances and furniture both fell, indicating continued troubles in the housing industry.
The
Federal Reserve pushed interest rates up for two years in an effort to slow economic growth enough to restrain inflation pressures. The Fed's last rate increase occurred in June 2006 and since that time the central bank has left rates unchanged, a stance that is expected to remain intact when Fed officials meet next week.
I called the T/A some weeks back. They explained to me it is THEIR policy not to give share structure information on companies and that I should contact the company. I emailed WRNW and asked. WRNW emailed me at about the same time that they are putting out a shareholder update detailing, among other things, the share structure. The time frame I was given to expect that update is about now.
JC
I'm catching up on posts. Thanks for this update LOWMAN. I am very pleased to see that , according to your source, we will have majority interest in TEAM. This indeed gives the merger news the impact it deserves. Investors should consider as I have that this $13 Million plus PRIVATE company has exhibited stellar growth in it's life as a private O&G service company. This is no doubt attributable to management that knows it's industry as well as how to conduct business. No way does a group of this caliber turn over controlling interest without being thoroughly convinced it will do even better with Well Renewal...no way. Since this is a merger, obviously TEAM will receive shares in WRNW. I am quite sure TEAM has considered everything to do with WRNW share structure forwards and backwards and is satisfied with what it sees. TEAM has a lot riding on the merger and one can assume they are privy to the kind of information we are not. For a very successful private multi million dollar company to agree to merge with WRNW , it is in my mind a huge vote of confidence.
jc
Soon all the ones who panic sold last week thanks to the "Jersey" character will be chasing back up. At least they will do so at a higher level. They will learn a valuable lesson about spotting people like "Jersey" and knowing not to pay attention to them. They will have left some money on the table, but will still do well.
Turning the corner:
Good start in breaking the downward trend:
I am of the same mind. I have continued to hold, knowing what it feels like to see a ship leave harbor and you missed the boat. In truth, where this stock is concerned, nothing has happened yet. If that character had not done a drive by on the board last week we would be at .02 now. But no matter. Even if the I/O were doubled ( not that it is), the TEAM merger adds better than a double in revenue. Like the old saying, you get what you pay for. The clown that frightened people last week may as well have robbed them at gun point. But hey, no one MADE them sell...LOL
LOW, before long you will do what everyone else in Fla. does....you will be up here in the NC mountains looking for a cabin to escape the heat and noise. Before you come, give me a call. LOL
I develop and build for a living. I understand that while we sit here looking at posts and Googling all day, he is dealing with other attorneys, oodles of employees, a phone ringing all day,..in short...all the things that go with running a business. While to many here, the 6 or 8 weeks since he got here seem like forever, I guarantee you he wonders where the time has gone.
Some other favorite "Mountain Signs"
BLUE BERRY'S AND
STRAW BERRY'S
FOR SALE
This sign is directly across from you as you drive to where Hwy 194 tees into 19E...you have to turn right or left:
Elk River Falls
Straight Ahead
There also is an honest to gosh road called:
TATER HILL
...I am not making this stuff up.
Low, you don't need to say anything at all. I know there will be news when there is news. A couple days one way or the other doesn't matter.
You think you feel stupid? You aught to drive around up here in the Blue Ridge Mountains and read some of the signs I see. I just saw another great one today.
DRIVEWAY
NO PARKING
ALOUD
I guess you are supposed to park quietly?
LOL
...Shelly may be watching...
Here is the text of the Rob Black Recap :
Rob Black's First Quarter Oil Market Recap
Posted on May 3rd, 2006 with stocks: BHI, GSF, HAL, NOV, RIG, SLB, WFT
Rob Black submits: With the first quarter earnings reports mostly behind us, it is a good time to assess the current state of the oil service and drilling industry and, more importantly, where it is headed. The earnings season just ended was characterized by record-setting growth in revenues, profit margins, new orders, and backlog.
There is virtually no historical precedent for the ongoing surge in demand for oilfield services and equipment. Virtually every product and service line in every geographic market is sold out, as the growing number of “job turndowns” amply demonstrates. Oil service and drilling companies keep track of these job turndowns, which are simply work opportunities that they cannot accept due to a lack of equipment and/or personnel. The job turndowns added up to hundreds of millions of dollars in the first quarter of 2006. The global shortage of oil service capacity, and extreme supply chain congestion, are issues that are being urgently addressed but which defy quick or easy solutions.
What was most evident in the strong first quarter earnings reports is that the oil service and drilling companies continue to raise their prices aggressively, staying well ahead of the upward creep in their costs of doing business. Oil service companies justify their price increases by citing a broad upturn in the costs of labor, raw materials, subcontractor services, and insurance. The oil service and drilling companies are anticipating general cost inflation of 8%-12% in 2006, and perhaps more in 2007.
When it comes to price increases, the oil services industry is seeking, and generally achieving, substantially more than mere cost recovery. Margins continue to expand sequentially and year-on-year, a testimony to pricing power in what has become a sellers market for oilfield equipment and services.
The national oil companies [NOCs] are a relatively new and increasingly powerful force in shaping the global balance of supply and demand for oilfield services. The NOCs of Saudi Arabia, India, Mexico, Russia, and China (among others) are accelerating their drilling programs and are seeking the best drilling technologies available from the world’s top oil service companies. They are directly competing with the world’s “supermajor” oil companies and the mid-tier oil and gas companies for the finite human and technological resources of the oil service and drilling industries.
The NOCs generally seek long-term contracts for rigs and oilfield services. Their buying power is formidable and they have become favored customers for the largest oil service and drilling companies. A significant cause of the current global shortage of oilfield equipment and services capacity is the rapid growth in the power and influence of the NOCs. In discussing first quarter earnings and the outlook for further expansion, several oil service companies commented on the lucrative markets that are emerging in the Middle East and elsewhere with the NOCs.
Another theme that permeated first quarter earnings reports was that while the North American oilfield services market remains strong and profitable, it is clear that the long-term growth opportunities in the Eastern Hemisphere are superior to those of any other geographic market. It is simply a fact that most of the world’s undiscovered oil and gas reserves are in the Eastern Hemisphere: the Middle East, the Russia/Caspian region, and the deep waters offshore the Asian Continent and West Africa.
The best performing oil service and offshore drilling companies are those that have established a strong presence in the major Eastern Hemisphere markets. These would include Schlumberger (SLB), Halliburton (HAL), Baker Hughes (BHI), Weatherford (WFT), Transocean (RIG), GlobalSantaFe (GSF), and National Oilwell Varco (NOV). The strong and sustainable demand for oilfield services in the Eastern Hemisphere will, inevitably lead to premium valuations for the companies that have captured the largest market shares in this part of the world.
Related: 1Q06 Earnings Conference Call transcripts from ExxonMobil, ConocoPhilips
This is taken from Well Renewal's site:
There is virtually no historical precedent for the ongoing surge in demand for oil field services and equipment. Virtually every product and service
line in every geographic market is sold out, as the growing number of (job turndowns) amply demonstrates. Oil service and drilling companies
keep track of these job turndowns, which are simply work opportunities that they can not accept due to a lack of equipment and/or
personnel. The job turndowns added up to hundreds of millions of dollars in the first quarter of 2006.
Source: Rob Black First Quarter Oil Market Recap, May 3, 2006
Well Renewal, Inc. intends to expand their scope of operations in regards to their oil field servicing operations. This will be accomplished via
mergers and acquisitions as well as investing further capital into already existing operations. 2007 will play a pivotal role for Well Renewal,
Inc.’s servicing division in respect to the ever increasing demand for oil field services in our targeted markets.
Excellent DD Charlatan. Thanks for sharing it.
Margins for the small operators are understandably linked to the cost of oil. When the price that a barrel of oil or a cubic meter of gas rises enough the margin becomes great enough to make these small plays profitable according to what I have been reading. WRNW stand to rework , among other things, wells that were shut down or abandoned when oil prices fell after the last domestic boom. Keep in mind that WRNW is not simply looking to extract and sell oil and NG, but also to provide drilling , maintenance and other services to operators in the industry. Should oil prices continue to make small O&G margins more attractive, does it not stand to reason the money will be there to contract these services? We know that 90% of these wells are small time outfits. That is a lot of potential service contracts.
Your kind resulted in a lot of people panic selling last week. Your agenda is obvious to me. Have a good life....
...Of course if that statement about 90% coming from the US Department of Energy isn't good enough, I'll keep looking.
;}
Take care...I gotta go grill the chicken.
jc
Bru...I know that in the final analysis we stand or fall on the abilities of management and their intentions. I would not have bought this stock if I believed this is a flash in the pan stock promo. And I all but guarantee you neither did the owners of TEAM.
jc
Yes, TEAM is experiencing outstanding growth. Consider this...would a private company experiencing the kind of success TEAM has be attracted to a merger with a start up O&G production and service company if they were not thoroughly convinced they will do even better than they have on their own? We are talking about a $13 Million + a year private company. This is no smoke and mirrors pink sheet shell company. It's a PRIVATE $13 Million+ successful company that is convinced by what it has seen that this merger is in it's best interest. How many of us have seen a successful private company merge with a pink sheet company? Not many, I'll warrant. TEAM must like what it sees.
jc
Yes, exactly. We aren't dealing with ExxonMobile. This is a small domestic O&G speculative play. To be perfectly honest, of course things could go either way for us. In this situation our best assurance of success is the quality of the people running the company and the fact that they have real hard assets including rigs and service equipment, real leases, and service companies with a proven track record. I am still somewhat astounded at how quickly the board glossed over the binding TEAM LOI. We aught to be still talking about that. TEAM is a very successful and rapidly growing service company. It was a home run, IMO.
Nobody knows the answer to that except the company. I was told in an email from the company that we will be getting a shareholder update very soon that will detail the share structure as well as the direction Mr. Rees is intending to take us. Regarding the exact day and times they intend to do the things so many are speculating about on the board, many of you are working yourselves into a lather about situations we don't yet know. All of this talk is obviously the banter of those glued to the tic by tic share price. With a small start up O&G like this you must concentrate on the things that make this speculative play so attractive. Domestic O&G is undergoing a resurgence due to a combination of factors such as the rising cost of oil, advanced technology and advanced methods for drilling new wells as well as reworking old wells that were capped in the past. As a result of this resurgence, small domestic O&G is encountering backlogs in equipment and services. It is wise to note that fully 90% of domestically produced oil and gas come from small operators NOT major oil companies. Well Renewal is positioning itself at the beginning of this resurgence not only with an attractive portfolio of leases including new and existing well sites, but with a sizable footprint in the O&G services industry. WRNW and it's associated service companies own their own drilling rigs and service equipment and employ a large number of people who operate that equipment. No mater who finds the oil and gas, they all need these services. Mr. Rees has been with WRNW for less than two months. I say we give the man time to get things going in the direction he wants. In fact with TEAM he is already doing that. It is borderline silly to fret over the next PR or whether or when new shares are issued and so forth. This stock will be nothing short of amazing if WRNW plays it's cards right. I think the least we can do is have a little patience and let Mr. Rees and WRNW give their best effort toward doing what really counts. We know about the scarcity of current info with pink stocks before we buy them. It is not reasonable after buying a pink to expect immediate transparency that was simply never there to begin with. The biggest things we have working in our favor are Mr. Rees and a company with real hard assets trying to expand itself in this rapidly growing domestic O&G sector. The bigger footprint he can stamp out now, the bigger returns we see later.
jc
All things considered, I think we know the sentiment going into today's close...we held up well. Good weekend everyone.
It just rubs me that a lot of the buying could be the ones who precipitated the selling to begin with.