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Well, I agree. And again, that is why I emailed about it some weeks back. I was told there would be a letter to shareholders in three to four weeks laying all that out. So accordingly, I expect in the next days to weeks we will get the update.
Honestly, I would like to see as many as want out go ahead and get out now. I would rather see the rewards go to those who have shown stability and bought and hold for a reason. No way will I consider selling anything until I give Rees a chance to show what he wants to do. I have read too much about the re-work segment of small O&G to want to be out when things take off this Summer.
Gotcha. In their reply email they told me that share structure would be addressed in the letter to shareholders. I had specifically asked about it. So hopefully they will do so.
JC
There have been three PR's this month. The last one about a week ago. For my money, that is not being silent.
I emailed the company and said as much about three weeks ago. I received a reply stating that Mr. Rees would put out a statement to shareholders in "three or four weeks" (from that time) clarifying the share structure and also the direction he intends to take us. We should have that soon if they stick to what they told me. I know a lot of us sit here and watch this thing moment by moment and so it seems like we have been here a long time, but the fact is, the man has only been CEO for six weeks.
JC
It seems there aren't that many "sheep" to herd here. This morning's hiccup was the best they could do? They really poured it on yesterday. I will laugh my a** off if we close up today...LOL
Let him have his day of fame. He's just here on that Jersey guy's coattails. One of my favorite proverbs says "Let not him that girds on his sword boast himself as he who takes it off." This guy will likely be fading in the rear view mirror before long. No big deal.
Very good reason...it's the same thing he is doing on the WHKA board...predicting a fall. He was all up on it at first just like here. He is a flipper...plain and simple.
I'm still up 300% and it would be stupid to sell now. I will wait to hear from Rees about where we are going and how he plans to get us there. Let the buffoons chatter like monkeys. they don't know anything more than anybody else. It's just hilarious that they always show up in force at the most suspicious times...trying to scrape up scare shares.
I agree completely. There is no reason to give the bash 'n buy crowd any time to do their thing.
Don't kid yourself...he's probably buying right now. Guys don't fly by and drop stink bombs without an agenda.
Let's keep in mind that this is an Oil & Gas company that is in the business of reworking wells, drilling new wells and providing drilling, service and maintenance to the domestic Oil & Gas industry. We speculated that Mr. Rees was brought in to grow the company's footprint via mergers and acquisitions. We see that he has started doing that. The Float plus the privately held shares were almost at the A/S when he got here. I read the expression on the board "I am out of dry powder" all the time. Well, Mr. Rees started without much "Dry powder". We know from PR's that WRNW is planning to increase it's footprint in the sector. We also know that he has said a letter to shareholders will be issued soon detailing where he intends to take us. If I had read that WRNW had entered into an equity financing agreement with some death spiral offshore hedge fund I would be concerned. But all I care to see at this point is some production numbers and income statements from the service companies. As long as WRNW keeps everything "in house" all that matters will be how successful they are at what they do in the O&G sector. The domestic O&G sector is just starting to heat up. By this Summer's end we should see a lot of growth , IMO.
jc
...I read your news release today George, and nobody gives a rip.
jc
I'll strike up Green Hills of Tyrol and see if that doesn't help.
They would love to break the trend line I am sure, but so far no takers. This is where the value of seasoned investors pays off. As you know, they can take a stock down a lot with very little volume. So far so good.
The knuckleheads selling are taking the pounding.
New Congress getting in our pockets :
News & Information » Press Releases
« Back to 2007 News Releases
News Media Contact:
Aaron Bernstein
202.857.4722 / 800.433.2851
For Immediate Release
01/12/2007
House Energy Bill Discourages New, American Supplies of Oil and Natural Gas
Bottomline: Increased Foreign Oil Dependence
WASHINGTON (January 12, 2007) -- The Democratic leadership of the House of Representatives today unveiled a proposal to increase taxes on the U.S. oil and natural gas industry, a move that would steer billions of dollars from investments in new, American energy resources, according to the Independent Petroleum Association of America (IPAA).
"If the goal is to lessen our dependence on foreign oil, then this bill falls far short," said IPAA President Barry Russell. "The American oil and natural gas industry is our most precious and primary defense against increased oil imports. This is a time to encourage American investment in energy projects here at home, not discourage it. This bill takes capital from U.S. oil and natural gas companies that otherwise would be spent on domestic energy exploration."
IPAA represents more than 5,000 oil and natural gas companies, most of them small, independent businesses, who drill 90 percent of the oil and natural gas wells in the United States.
There are three provisions in the legislation specifically opposed by IPAA:
1. Section 199 - The Manufacturing Tax Deduction. The legislation repeals a 2004 law that allowed companies to keep more of their earnings. The bill singles out the oil and natural gas industry, while maintaining this incentive for every other manufacturing and extraction industry.
IPAA's Russell said: "Increasing the industry's tax rate will siphon billions of dollars from much needed American energy projects. This measure is purely political with the goal of punishing an industry that has low favorability on Capitol Hill. But the result actually punishes the consumer and our national interest of secure, domestic energy supplies."
IPAA companies do invest their capital here in the United States. Independent oil and natural gas producers reinvest, on average, 150 percent of their domestic cashflow into new exploration projects in the United States, according to a study by John S. Herold, an energy industry consulting firm. This means that U.S. oil and natural gas companies are not only spending all of their earnings on new American energy supplies, but also borrowing from lenders and investors to find new oil and natural gas resources.
2. Royalty Provisions. The bill penalizes offshore oil and natural gas companies that signed leases in 1998 and 1999 that, due to federal agency mistake, did not set a price threshold for royalty incentives. The bill requires all companies to re-negotiate these leases (or adhere to certain payments or consequences), even though they were fairly signed and the companies have no responsibility for the federal government's contractual mistake. This creates a plethora of questions over the sanctity of federal contracts. The bill also states that those companies that do not renegotiate or pay a $9 per barrel "conservation fee" will be banned from participation in future federal offshore lease sales.
IPAA's Russell said: "The contracts signed by the federal government and energy producers are called 'non-negotiable' for a reason. Quite simply, they are legal and binding, regardless of the government's mistakes in drafting them. Many companies will choose to work with the federal government on a reasonable solution. That is a business and legal decision for each individual company. However, sanctity of contracts is a cornerstone of America. The U.S. offshore regulatory program is admired around the globe for its stability and predictability, the action in the House sends the wrong signal to investors around the world about the reliability of America's federal contracts."
3. Alternative Energy Fund. Any money raised by this bill (from increased taxes on the oil and natural gas industry to new royalties) will be captured and directed to a fund that will provide research and development of "alternative" energy.
IPAA's Russell said: "Sixty percent of the nation's energy comes from oil and natural gas. For the foreseeable future this will be continue. While it is important for America to develop a broad energy portfolio, the nation's vast oil and natural gas resources cannot be ignored. Research on improving the development of these resources can be equally essential to the nation's future and its security. For example, imagine the value of new technologies that could extract the more than 390 billion barrels of oil that are currently unrecoverable in America."
###
We should be getting that shareholder's update in the next week or so. Mr. Rees will be detailing the "game plan" for the company. It should be interesting.
I am enjoying the slow and steady gains. This can be sustained for a long time. Patience truly pays off.
Winding up for move.
It is looking very good. I am up at least 300% since you told me about WRNW. I have followed your advice and continue to hold. There is most certainly a groundswell of interest in this stock as evidenced by the continued decent volume and the money flow coming in. The churning is moving the base up nicely. I personally don't think we have even seen the beginning of where Rees plans to take this. We are at ground floor levels right now.
That's the kind of climb we need. It's sustainable.
He he he:
We are turning the corner.
That makes no sense. Why would Team agree to be bought with their own income? It is my understanding that WRNW is buying a substantial piece of Team using the money they raised for that purpose as stated in a previous PR. I would think Team didn't get where it is by giving itself away...???
I like this statement from Team management regarding the upcoming merger:
Tim Tinker, Team Services, LLC, Managing Member commented, ``We are pleased to have found partners who have the same commitment to servicing our customers that we have had over the years. We look forward to moving ahead with strategic initiatives to grow and expand our business to new levels.''
Team's overall revenue has shown considerable growth since 2002, increasing from $4 million to $13.6 million (Unaudited) for the year ended December 31, 2006 with an adjusted EBITDA of $2.7 million. Well Renewal, Inc. will have 60 days to complete its due diligence and enter into a definitive Purchase Agreement.
===================================================================
Team grew itself from $4Mil to $13.6Mil in five years. They obviously want more and they see WRNW as a better way to go than going it alone. For my money, when a private company that has experienced that kind of growth all on it's own decides it cane do even more with WRNW on board, well you just won't find a better endorsement for WRNW. No doubt Team has been given all the information about WRNW it needed and liked what it saw.
THINK ABOUT IT.
I feel the same way. It was no fun watching the sell off, but when you think about the big gains over recent days, it was hardly a complete surprise. We'll know today if most of the flippers are out. If we can resume a more sustainable growth chart from this level it will continue for a long time I think.
Looking at the chart from msg# 6283 it looks like we experienced "trader's remorse". It's an emotional sell off that is usually followed by some level headed buying over the following sessions. If so it will consolidate above a penny and continue to move up. I just don't see how any one with a level head will want to be out of this stock while it it so grossly undervalued and the CEO is working to grow it. The flippers were just seeing numbers on a screen I am seeing what REES is doing.
It sounds to me like Smith and Hull are hockey guys that entrusted a slime ball offshore hedge fund to mind the shop while they (Smith and Hull) were on the road building a league. Obviously the douche bags at the hedge fund did what they do best. Am I putting it anywhere close in layman's terms?
jc
Now watch the bastages start printing buys that already happened.
Hold tight and you will be able to rub it in before long...LOL
Well, being in at well under a half a penny average, I am losing no sleep. The news today was fantastic.
Thanks for posting that visual. it puts things in perspective.
311 shares...what's that all aboat...Eh?
LOL...couldn't resist...Have a great day.
Ralfalf...enjoy the day and eat some little corn!
I learned this strategy some years back in the Energy Trading sector. They guy I learned it from...maybe you heard of him....Warren Buffet. When a sector begins to boom, be all about the service industry to that sector. No matter who makes the most Widgidoodles, they need YOUR trucks to get them to WalMart.
That's the not so subtle point I think needs to be made. O&G in the USA is 90% small operators. Currently it is booming such that operators are hard pressed to get the equipment and services they need....so the smart thing to do is fill that need as fast and as big as you can contrive to do. No matter who finds the lion's share of oil and gas, they need the services because 90% of them are little outfits. It's a freekin' no brainer.
And WRNW isn't Exxon either. So this represents a big addition to the company's portfolio of operations. It seems to be a good fit. And it's a successful private company. Believe you me, they aren't doing this for WRNW shareholders. They see something in this too. Successful private companies already experiencing growth in a growing sector don't take stupid chances.
jc
So far they do what they say. Small operators account for 90% of domestic O&G. There is a resurgence just getting underway. Regardless of what WRNW's leases produce, we KNOW that many operators will be successful and will need chemicals and services. WRNW is taking steps in the right direction, IMO.
Exactly. There is no slight of hand here. They PR'd the fund raising after it was over with and said it was for this. They were good enough to let us know the cash is there before they announced the acquisition. Transparency such as you won't find often.
It should come as no surprise given the fast food society we live in. What did people expect? To hear that WRNW was buying ExxonMobil? For a start up like WRNW this is big, big news. Time will tell the tale here. And I doubt if Mr. Rees is done.