Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Interesting info in the new SEC filing. Isn't HighGround owned by Ronda Hyatt?
Actually, he has taken action, and yes, the lawyers are lining up. Will be interesting to see if TECO reports those legal activities in their next report.
nor will they PR the implications of being kicked off either.
Cap
check out message 1212. that will give you the lease info on the severances that they STILL haven't gotten cleared. But..... they promised!
two leases: District 7C Clara Couch Field Lease W.W. Owens, lease #08655 and lease #11079
wonder if the next 10Q will include all the litigation they are in?
I suspect that's gone or soon to be gone.
Are any of the new leases "proven"? the existing lease, although proven, is probably done both now and in the future.
The actual acreage the company has control of is somewhat iffy. They have been legally severed from the largest lease they have (and may not have it much longer) and most of these other leases seem to be held by a letter of intent, which means they don't control it. With their past history, I wouldn't bet on the come with these guys.
It's also not possible for the IR to have been correct when he made that statement. They were severed from one of the leases in August 2008, prior to the formation of TECO (in Jan 2009). That would mean that at the most, they would only have 2 operational wells, which also was not the case. Only if the IR was representing history that occurred prior to HiGround becoming the operator in 2004 would it have been possible to have produced 30 BPD, on average, or on any signal day at all.
Can you tell me what your source at the TRC is that confirmed this information?I have looked at the TRC reports for the last 4 years on the lease and can't find any month during which HiGround averaged 30 BPD.
I'm still not sure I understand. According to the TRC, historically the wells never produced that much with HiGround as the operator so it could never average out to what was being posted.
So what you're saying is that they were averaging 30 BPD during that period? Not sure I understand your response.
ok. regardless, they do have millions to invest in TECO or any other company that meets their specs. This guy dumped all his stocks about a year and a half ago, went to 100% cash figuring the bottom was going to fall out. Hit it right just before things hit the fan. He's figuring now is the time to selectively look around. He's already bought some solid stocks at rock bottom prices (IBM at 84 for example) and is doing a lot of looking around.
Are they required to post in the next 10Q or SEC filing any litigation against the company, board or former board members that took place while they were board members, and the nature of the litigation?
That's true. But I didn't say they were interested in investing millions in TECO. I said they had millions and were interested in talking to TECO management and no one would call them or email them back.
I didn't say that. I said they had millions of dollars to invest, not necessarily in TECO. Based on the response, or lack thereof that they have received, I'm sure if they invest anything, it won't be close to that amount.
what I can't figure is when you have a potential investor with literally millions to invest that the company won't respond to their calls or emails.
The operator has that responsibility, although in many operator agreements, that ultimately falls back on the leaseholder. Why do you ask?
and TRC says neither TECO nor HiGround have any operational leases. is TECO going to get another operator?
TRC says they're still severed from the lease.
I asked the question. Was looking to see if anyone had an update. Figured you or one of the folks in touch with them might have an answer. I have tried to both talk and email these folks along with another individual I know (who has LOTS of $$ to invest) and never gotten a reply either via email or phone. I don't know who the guy is who answers the phone, but he asks for a name and phone number and that's all you get from him.
I read something about it earlier, like a week or two ago on one of the blog sites, maybe this one.
I haven't spoken to them yet
I would think that the principals of TECO would know that information.
Can anyone tell us if they still even have the exiting leases? Word at one time was that they were being foreclosed on by the land owner.
Still trying to sort this out. is there a board of directors at all? seems like Hyatt, Hallin and Dunham are still heavily involved in the decision making of the company, but not at the helm. Is there a site where we can go to see what is happening and what lease holds they have to develop? Nothing new to speak of on their website.
do they still have the Owens lease or are they pursuing new leases and have let that one go?
Actually were "severed" by the Texas Railroad Commission (TRC) for environmental and compliance issues. May have involved Texas Environmental Commission as well.
If anyone wants to file a complaint with the SEC, go to
http://www.sec.gov/complaint.shtml
There may be strength in numbers. Until such time as complaints against guys like this are filed and action is taken, they will continue to thrive off unsuspecting individuals. Although the officials may be more interested in big fish like Madoff and Stanford, they would have difficulty ignoring multiple complaints from numerous victims on the same company. Right now there is a lot of scrutiny on the SEC and state agencies for ignoring the complaints against Madoff and Stanford so they are perhaps more likely to act now than ever before. Also remember that the SEC and state agencies aren't going to get your money back for you. However, they can shut these guys down and perhaps see to it that they spend some time in the cross bar hotel if appropriate. This isn't about revenge. It's about stopping these clowns so others don't get burned and so legitimate businesses can have a decent shot at making a go of it via the small market.
Whatever you invest............good luck
FCC??? How about the SEC, FBI, US Postal Service (mail fraud if the mail was used), state securities commissions, etc. After Madoff's sentence, maybe they will take an interest in the common man for a change.
Have any of you reported this mess to the SEC, the State of LA, NV or any of the states in which you reside? Maybe there would be some strength in numbers if they received several independent complaints. Also, for those of you considering civil action (like was mentioned in a class action suit) remember there is a statute of limitations which is pretty short in these kind of cases. In some states it's only one year on issues like fraud.
Looks like TECO has flatlined. Any thoughts on the impact of PBLS's demise on TECO? Any news regarding TECO? Been very quiet the last several days.
Trading day is almost over. No volume. ???
After reading the complaint that was posted, may I make a suggestion. There is a form online for the SEC to make a formal complaint. It can be found on the following website:
https://tts.sec.gov/acts-ics/do/complaint
If a few complaints were filed, it would draw more attention of the SEC. I know they're more interested in Madoff and Stanford, but there are already a couple of complaints which refer directly or indirectly to PBLS. A few more might have them dig in and go after some of these folks. Just a suggestion.
and that relief is spelled C O U R T. Here come da judge!
I'm not the land owner. However, I do know what the heck is going on. You might want to check with someone who will truthfully tell you about TECO's current legal issues with said land owner. You won't find that truthful person among TECO's board of directors, MM, RB, PBLS folks, or any of the charlatans who are running the show.
Or maybe because their plan which now appears on the website says:
"Ongoing evaluations of all projects and moving properties that no longer meet the Treaty Plan, to other entities that can benefit from them"
Wonder if that means that they are going to give (or have to give) the lease back to the landowner (entity) that can "benefit from them".
maybe it's just part of the "treaty plan" that they continue to tout. on the other hand, maybe it's their way of telling everyone they are soon to be out of the oil business.
No mention of VAGO or SAGO wells or their plan to rework those, develop their lease. Cosmetically it looks the same but the basic information relating to the operation has changed.