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You can bet your sweet bippy that he is not about to quit if the Mesa does not hit! His words: "All I need is one of the 5 to hit and we are off and running."
Tom has 5 other prospects lined up. He listed them in the shareholders conference. In addition, there are even future plans being locked up that make the Mesa small potatoes!
For all those who were unable to attend the shareholders conference, you did miss lots of great and forward information. The above was just a small part of the progress and future of EDEX. All our eggs are not in the Mesa, there are many more incredibly promising sites lined up and waiting.
Yes, I am looking forward to the results of the Mesa being announced, but either way, it will be a small down blip or a hugh moutain upward. The long road is headed upward.
This was an excellent PR!
Not one for the flippers, but for those looking to build wealth!
There are 2 ways to make money in Pinkland. The first is to flip and ride momentum, the second, (and real way to make money and build wealth) is to find a legit business with real potential. Buy the stock and forget it for a year or more!
Come back at harvest time and reap the results!
This is the second way. This is the second way kind of PR. Very forward, new contracts, expansion, audits, etc.
I just added more!
The bids don't have to be posted on L2 if they are 10,000 shares or above. I called my Etrade rep about not showing my bid and this is the reply they made.
I hope this helps calm the water some. This is why you can have 100K trade out of the blue. There are probably many trades in the wings which don't show, all because they are 10K shares or above.
Jim, rather than whine to us about it why don't you call Tom and tell him all your insider knowledge about rig availability? Maybe with all your insight, you can set him straight.
This way you help us!
Wild, from 2.2M yesterday to only 4K at 11:20am.
Big difference.
Oh, good call on the purchase.
I only note 4,250 shares traded this morning. What's up with this?
Thanks for proving my point rather than reinforcing your arguement.
Case closed.
The words Tom used was something like this:
I'm not a gambler. I don't go to Vegas and gamble. But, when I have found at least a 50/50 odds, and can get d 10,000 to 1 payout on a bet with better than 50/50 odds, I will take that bet.
Top Hat: Run the math, I will take those odds also.
fat... I don't care who you are who you think you are.
I don't come to this board to read that kind of foul profanity. Clean it up or I will report you.
Here is a novel idea: Defend your argument w/ facts instead of insults.
Note: Only a dufus and loser has to use profanity. This goes both ways.
Jag, nice to see you comin' around regarding the potential of EDEX, Tom and the plan. Glad for you. Even more glad if we hit pay at the Mesa.
Yea, Tom does have a plan and intends to pay dividends. If we hit the one Mesa, then we will probably hit the other two and our stock won't be worth a dollar to three, it will be worth 3x of that amount!
I wish there was a better shot on the video of the seismic chart. You can see the yellow center of the bull's eye for a brief second as he passes the chart. To lay it out and absorb it was amazing. The seismic chart shows the underground "island" vividly, and there in the center was the location where PIP indicated the presence of oil.
The proof is still in the pudding, and I wait for solid drill reports, but if they hit, I too plan on living off dividends.
Top Hat
Hope everyone here has taken the time to view the webcast. Better yet, watch it a couple of times.
Some things I noticed:
Tom is much clearer in person, not quite so fuzzy around the edges.
There were hints in the webcast about even bigger things in the future which make the Mesa look small potatos.
Lots and lots of great things were left out of the webcast. Even though it is 40 minutes, probably 60 more minutes were cut including: A further discussion about dividends, More background about Tony and Calvin and why they are EDEX's greatest resource and will stay that way. Much more about the Palo Duro basin and the 20% profits, along with the relationship of Tom, Bob Talley, Calvin and Tony.
Hopefully this webcast can spark some intelligent and thoughful discussion.
For the most part, at this point its wait, drill, wait, drill and hopefully a major trip to the bank!
Have a great Sunday.
Top Hat
Yo Dog,
He is talking about SLJB and not ARET. SLJB use to be LFWK. I myself bought LFWK at .018. Yes, that is a more than a 10 bagger at .20. It was much lower than this before March '06. Easily a 20 bagger from those levels.
Confused aren't ya.
I'm also hoping ARET will do the same. I also have no problem waiting a year. Time in this case will be $$$$$
There is only a handful of trades I've made in the last 10+ years where, if I didn't excerise patience, I wouldn't have made money, and some, big money. I have lost a lot of money thru the lack of patience.
Read the books, talk to seasoned and retiring investors about their mistakes. Patience will always be listed at or near the top. The lack of it makes one both miserable and poorer.
I'm not sweating the wait for the drill to arrive. It will arrive and when it does, it will dig. If you don't believe this, then you SHOULD NOT be invested in EDEX. If you even question this: the same.
That's the facts.
Imt, There is a hugh difference between whining and questioning managements statements. There is a HUGH difference between a delay in a drilling that is not managements fault and management is lying and committing fraud and deceit etc... HUGH.
I've not met one on this forum who has any problem discussing real issues, good and bad. But, understand this is not one of those issues. If there is a reasonable explanation as to why the delay, fine. Deal with the delay. But harping and or questioning the integrity of the company because of a delay, (when the company has done what it said it was going to do in the past,) is a whole other matter, especially when it comes to the issue of Pinks.
This has nothing to do with pumping or negative, but everything to do with lack of patience and the like. It's not a issue of questioning things, its a different issue. I hope you can see this.
BTW: I for one don't appreciate the foul reference on a discussion board, especially when the issue is whining and not a factual (positive or negative) issue. I can handle the discussion and questioning of real issues.
Jim, relax. You should know that in the drilling world, NOTHING goes as planned.
Heck, in most worlds the same is true. Microsoft announces that their new version Vista will be ready by the end of the year. Now, its next year. What are you gonna do? Yell, scream, rant, gripe...... and imply that Microsoft is a fraud?
It does no good.
If you want to parse Tom's words. Fine. The result will be only one result: You, yourself will be miserable. I for one would like you to keep your misery to yourself. If you choose not to, expect others to say what I just said. I know you won't be pleased to hear this, but actually, it is sound, unsolicited advice.
If you've a real problem with the delay, call Tom. Get his explanation. Then just drop it and wait. If you can't, move on.
Heya Gator, great response and insight. You might be surprised, but I doubt that you would get much if any argument about the "hope" posts and much agreement about the being patient until the drill results comment!
Believe it or not, I fully agree about the waiting until your chickens hatch. And yes, dreaming does not spell success.
Some of my posts about dividends are to help others plan their course of action before events unfold. I think that you would agree it is wise to know your plan before they are either successful or hit a dry hole.
In addition, if you knew Toms philosophy on dividends in advance, it would be most helpful towards good planning and stock selling strategy.
I appreciate the level headed posting you have presented. Keep it up, just understand that some of us need the dream and dreams dashed posting to help us plan out our course of action.
Top Hat
Agreed Sal.
This was one of many of the insights I came away with. I would be a fool to sell even if it goes over a dollar, except for initial recoup of investment.
Expecially after the discovery that we have not one, but THREE Mesa's, two right next to the first!!! I would rather keep the dividends and the stock. I will be able to live for years with a one time, $1.00 dividend! Knowing the first well is a success, IMO, it would be foolish to sell my stock except for emergency.
Yea Y, he also mentioned it at the conference. The tax savings via dividends is much greater! This is all part of the thing I mentioned about the best kept secret of the meeting: His business smarts and how he was making great decisions based on his business experience.
BTW, Lowman is correct. There is a big difference between a one time dividend and quarterly payouts. We can easily see a one time dividend early, maybe even next summer if the Mesa pans out and we get #2 and #3 drilled next spring, but by '08, regular quarterly dividends could happen. Again, all this is hope at this point.
Bronco, when Tom did his public interview with Wall St. dot Net, he plain and simply also stated that he planned on living off the dividends. Its no surprise. He has been consistent about this for a while.
Jag, here is what I asked: Tom, if we hit the Mesa and prove the field and sell it for 500M, would you give dividends to the shareholders?
Here is his response as I remember (not quoting): I am a shareholder. If we received a fair offer I could easily see giving a buck or two as a dividend. I own 40% of the company and would receive 40% of the dividend. My plan is to live off the dividends, that is how I will make money. We will still have plenty left over for drilling.
IMO, If were able to sell the field for 500M, he could give a dollar dividend and still have 300M for expenses. You can do a lot of drilling for this amount!
This is the jist of what he said and also said in the meeting. I agree that it is unusual for a growth company to pay dividends, but in this case, under the circumstances, I believe it is likely. It all hinges on our success at the Mesa project, proving the field and then the buyers and money will come.
Low, Tom addressed the why drill the Palo Duro at the meeting yesterday. They are "hoping" this 1st Q of '07 as far as time frame for a first drill. But, IMO this is hope.
Hopefully the why and background info will be in the webcast.
The short of it is that they found strong PIP readings and found a fault line and river to the east of the strong readings. Further east, at the same depth as PIP indicates, they are drilling for oil. Seismic would not discover oil in the existing formation by the way normal seismic is performed but they found it while in the area.
Tom explained all this yesterday and thru the use of hand drawn diagrams it was simple to understand. I however am probably confuusing it. You can call him for an understandable explaination.
A couple of specifics.
Tom expects the Mesa drilling to finish up by Oct. 6 or 7. They will announce the results shortly after this time.
Any return for a 2nd or 3rd drill will be next Spring, 07. I asked him specifically about this and this is what he indicated. He also indicated that they would try to sign the drillers to do both, one after the other.
No mention of when Hardeman starts. Sorry, I forgot to ask about that one. He addressed the site and its potential, but forgot to mention when.
Observations
This will be tough. I do not want to steal any of Tom’s thunder or presentation, yet, the I-hub group is like a pack of mangey hounds gnawing on a bone for any speck of meat. So, I know you want some stuff to chew on, yet I want for Tom to be the one to cast the vision and share the future. I encourage you all to watch the upcoming webcast multiple times, but until then, here is some stuff to chew on.
1. We don’t have one Mesa project, we have 3! The other 2 are probably just as big as the first! Tom will share some good info on the background of the Mesa project and info on a drill in 1946 at our site and the results. From all indications, it is a good report and puts air in our sails until the drilling results. Tom will also describe in good detail about the other 2 Mesa projects.
2. Sparkman drill in N. Texas. Tom describes this project and what else this project will lead us to in the surrounding area. Its really good stuff.
3. Palo Duro Basin. Tom gave a understandable presentation on this area and what we expect from it. He described our partnership with Jon Fullenkamp and Victory and our part and how we will reap from their drilling. Expectations are for the 1st Q in ’07. If they find what PIP shows, we will have a free ride earning 20% the whole way. This is also really good stuff.
4. Tom talked about the sharestructure of the company and his trading preferred for common shares. He talks about how and why. IMO, he talks frankly, with out trying to parse terms and cover his tracks. There is NO trying to define what “is” is. You will see none of this, just an honest answer of what he did and why.
In this part you will also hear Tom’s philosophy of dividends. (I talked with Tom privately about this area before the meeting as I wanted to know what his plans were about issuing dividends.) To summarize, Tom would like to sell a very small percentage of his shares to buy a house and keep the rest intact as he expects the to live well off the dividends. To quote him pretty close: “I get the $$ from the dividends and get to keep my shares! Why would I not want to do that?”
5. 3 Sisters / Glasscock drill. Tom explained the what and why the drill ended off a couple degrees. Hopefully this will be on the webcast. It is a testament to both his character, and the long term vision. Tom describes our going back and what we expect to do to make this a profitable site for EDEX.
There is more but this should give you a decent rundown to the bulk of the presentation. I’ve left our info on how EDEX works in conjunction with seismic, the PIP guys, how we find sites and lot and lots of other material which was covered. I also left out stuff Tom said he couldn’t mention about some other areas they are looking at that make the Mesa look small. The future, even if the Mesa does not pan out looks bright.
Gee, its really too bad you missed it! The info was worth the attendance. Hopefully you will hear like I heard: Info, not sales. Time will tell and I look forward to the perceptions of the webcast from the mangy pack.
I hope this proves helpful. Top Hat
The Meeting
The meeting was sparsely attended which really surprised me. There were only about 10 shareholders. The remainder were a group of investment bankers, Bob Talley from EDEX, Jon Fullenkamp from VTYE, and a couple of others I did not meet. I don’t expect a big bang or pop from the group there, but I do think that there will be a rise in buying from some there at some point in the near future.
A couple of note about the meeting. It wasn’t a handholding time for Tom. I watched as Tom talked with 3 bankers and shared his background, the company story and the future plans. He wasn’t working them, but just sharing the facts of here is who we are and what we are about. I enjoyed watching and listening during this time. As EDEX progresses and needs further capital for the near future drills, it is these kinds of meetings and relationships which will propel us towards success. IMO, this was an excellent opportunity for Tom to lay the groundwork for, if need be, for future partnering with those who can fund the work.
The meeting was video taped and lasted about 1.45 hours. They will attempt to edit this down to about 20mins and have it up on the EDEX website next week. I would encourage anyone interested in EDEX to watch the presentation. I too look forward to watching it and seeing if what I heard, and what I think I heard is what I actually heard and was said.
Tom
I enjoyed meeting Tom face to face. He was quite real in a friendly and sincere way. Not pushy, but kind. He knew he should greet those that attended so he went out of his way to greet each person, and not in a pushysales way, just in a real and grateful sort of way. I was privileged to get to speak with him for quite a duration before the meeting on a one and one basis. He answered my questions and let me know that he had some really good stuff to share to all. This was not in a boastful way, but in a proud of accomplishment way. (Kind of a: “Hey, we really have accomplished something here and we have some awesome stuff right in front of us to do and even more on our plate to do after this” way.) What I get from him is a satisfaction of fulfillment and enjoyment of the detective work and accomplishment.
I was pleased to discover his background and what he has done in the past. He was the assistant to Jack Kent Cooke (former owner of the NBA Lakers, the NHL Kings, the NFL Redskins, The Forum, many, many newspapers, The Chrysler building in New York, publishing, promotion,…… too much to mention. I list this because I told Tom that I would post this: The hidden gem of the meeting was this: You could see Tom’s wise business experience, sense and wisdom coming thru as he spoke. It came thru as he talked about business plans of what they were going to do and not do. He is not out for a quick buck, but to build a real oil company which will be noticed by all. This is his goal, vision and passion. His business experience is what I trust the most in all of this, and this is part of what will make EDEX successful. He has surrounded himself with good people based on relationship. This will bode EDEX well as they move on in the future. Tom has the background and experience to build this thing into a solid and very profitable company. It was obvious that he realizes that if he will build EDEX, he will prosper and prosper handsomely. He is also mature enough to be OK with this in the face of others with humility. (BTW: this is an important trait.)
One of the nice thing about his manner was his practicality. He freely admitted that if this thing (PIP) works than it does. And if it does not, it doesn’t and we should do something else. He also freely shared how other research and testing can help PIP and confirm what it shows. He wasn’t a PIP only fanatic, just reality based. Oh, he does understand the benefit and success of PIP, but he will freely prove it by other methods to help in our exploration. (ie: Seismic testing for example.)
I attended this meeting to catch his vision and passion in person. This cannot be done over the phone. I attended to see what manner of man he was and if I could entrust my investment into EDEX for the long term. I am more comfortable with my investment than ever. One of the first lines from Tom to me was the following: “ Everything I’ve done in my life has prepared me for today.” I understand this phrase and its multiple and deep meanings, and I appreciated hearing it.
Most of what I said about Tom was also true for Bob Talley. He comes across as a humble, gentle and kind man who also gets stuff done! It was a pleasure to both meet him and talk with him about the PIP developers, working as a team and see the fulfillment factor flow thru him also.
Zag, 100% on the money with your report. What you have said is correct. VTYE and EDEX will be doing these, and IMO other JV's together.
I just stopped in between flights to check this board. I will try to post insights later today. And no, I will not be buying first as Low joked, I won't have any powder for a couple of weeks. (But I would if I could.)
Is Tom selling you ask?
The answer is absoulty NO.
I talked with him this afternoon at the meeting. You will hear it from his own lips when you listen to the webcast nezt week when it is posted on the website. You will also hear why he has not sold any shares.
It was an excellent meeting. From all perspectives: Content. Background. Diligence. Vision & Direction. Future...
I was well pleased that it was a valuable use of my time.
I will post my insights and general feelings tomorrow.
Top Hat
Bronco, Tom is not a hypester in any way. I know you know this. But I wanted to let you know that it is one of the many reasons I like and trust him for the long term.
As an example: The Glassrock drill was not "dry" in the truest sense. It was "dry" in oilman terms. They/we will be returning to it to drill horizontally and hit the main vein. I wasn't a solid hit, but it proved what we thought - that there was oil down there, and the truth is that it wasn't "dry" in the sense that there was no oil.
In his PR release, he could have hyped this as a hugh success and this would actually be true. But he didn't. He just stated the facts in the oil vernacular. Personally, I didn't like the PR or its wording. I also would have liked him to note that the well will be a success on a return horizontal drill in the original PR. This is the way I would have done it.
My point is that he didn't hype it in any way. This tells me that he is in this for the long term and is trustworthy. How refreshing is this for a pinksheet. BTW: It also allowed me to pick up more shares on the cheap. :)
So, let VTYE hype, I will stick w/ Tom.
The 2985 shares are now mine. We will see if the .16 holds.
Actually, its a brilliant move on the brokers part.
If EDEX goes over a dollar, all his clients he put into it will be spreading the word on how great their broker is! His business will skyrocket! All over a few bucks on renting a room for probably less than a grand. Yep, possibly a brilliant move on the brokers part.
In speaking with Tom, my understanding is that Tom and EDEX isn't spending a dime for the shareholders meeting. (exept time, gas, and the PR) The meeting is being put on by a local broker for some of his clients. They asked Tom if he could do a meeting and he said: "Yes."
I'm grateful he opened it up for all of us.
I just spoke with Tom about the Shareholders Presentation on 9/12.
He did confirm that he will be doing quite a in depth presentation on the NM Mesa drill including charts, maps, geology reports, etc.
Turnout and rsvp's are more that he thought and he indicated that there should be a good group. He still freely welcomes more.
On a more personal note:
1. There may be some hand holding for local investors, I am OK with this as it is the information I want.
2. There will be significant (IMO) information and a thorough discussion of the in workings of EDEX from Tom himself. This is information I want.
3. The issue with major profits in the pink world is to find the real startup companies, with real potential, with real integrity, with real knowledge and experience and stick with those. VS a printing press. There is nothing like spending time with the leadership of the company to find out what is "real" and to see/catch their vision/destiny. I'm going for this reason.
None of this is a pump for attendance, but I do have a couple of friends considering an EDEX investment and I am encouraging them to attend. It's very sad to miss this kind of meeting, with this kind of potential. Outside our little I-hub world, investors would kill for this and we have it laid our in our paths.
From the: Penny wise and dollar foolish wisdom, we still have the solid potential to 10 bag from these levels this year easy. How sad to miss the opportunity for this level of DD trying to be penny wise.
I look forward to meeting some of you and also posting my personal observations from the time together. BTW, feel free to message me questions you have and I will try to get them answered.
Top Hat
Jag, I have already cash a few airmiles and plan on attending. Let me know your questions. I will try to ask.
Top Hat
Historically they have consistently been late on filings. No surprise there. I expect something within the next week.
But, time will tell.
Jag, here is an idea for your new home should you get the job. Dream for the sky!
>
No problem.
Everyone I've heard who has talked to Tom, and there have many, have all come away quite impressed with his down to earth honesty and forthcoming personality. They have all understood the vision and appreciate his leadership in the growth of EDEX.
I too encourage you to email or call. I trust you will be pleasantly surprised.
Wishing you the best, Top Hat
6Kids, I have 7, all awesome! and afforded.
Instead of insult, why not reply: "What a great idea. Thank you Jag. I will call and find out for myself. Thanks again for the encouragement and great direction."
In a year from now you and all the friends you tell will be slapping you on the back telling you how great you are and asking you what your next "great pick" is.
Just wait, you'll see!
Thanks Phat, please do.