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.
Today marks a new day for BDGR. The selling seems to have gone way down. Now, is that because the sellers are mostly done? Becuase the buyers have dried up and the seller don't want to sell much below $1.10?
I do believe that buying has constantly stayed during the fall from $2. However, the selling was greater. If the selling subsides, will the price go up?
As I stated before, our share count jumped from about 34 mil to just over 40 mil about a month ago. Certainly, some shares were being sold from someplace. I'm not sure if the new shares were the source of selling or not.
In any case, we have absorbed the selling, so far, rather well. A price above $1 is a rather strong place to remain considerig this stock was as low as $0.165 per share within the last year, and $0.45 in the last few months.
BDGR continues to execute its plan and audited financials should give this company more credibility, open up its options for raising money, raise the stock price making it easier to make big deals (we've already seen some of that), and make it easier to get to a larger exchange. With a market cap of about $44 mil, we are not far away from easily making an Amex listing.
As you can see, BDBR seems to bring out a lot of emotion. For those who don't know, OMOG as raided by a corporate raider named Adam B. This was hostile and many lawsuits have sprung from it. The raider of OMOG did not know what he was buying and has tried to exploit the poor record keeping by himself and previous OMOG management. Some of this past OMOG management then moved to BDGR and started over, almost from scratch. BDGR, as OMOG recently stated, has grown an acorn into a "mighty oak." Now, OMOG is trying to essentially, IMO, "extort" money from BDGR and BDGR although willing to settle old disputes and grey areas is not willing to give OMOG more than what it considers reasonable.
According to BDGR, the OMOG case is weak and they will not prevail. Where I beleive OMOG will get some assets and liabilities from disputed properites, it will now, apparently, have to fight for anything it is to get unless they become a whole lot more reasonable.
BDGR management is led by a CEO lawyer who will continue to do what is best in the company's interest. OMOG is now adding BDGR to the lawsuit in an apparent desperate attempt to sling all the mud it can to see what it can get to stick and, IMO, try to put pressure on BDGR to settle on more favorable terms.
As is often the case, Adam B of OMOG seems to "not get it." Adam has failed miserably since raiding OMOG and his character is even in question, IMO, as he seems to have failed to do little of what was promised, IMO.
These OMOGians, as I call them, express an unsteadiness and imbalance often associated with blind bashers or pumpers. In the meantime, BDGR generally ignores these people and wait for its day in court to come. Of course, a settlement/buyout of OMOG is always possible as OMOG probably did have some properities that are now in dispute (a small part of these are held by BDGR). BDGR will not, of course, give up any disputed rights until a settlement is made on all the rights, including those that some beleive are clearly not OMOG's.
In the way that many lawsuits start, OMOG is inflating the numbers as large as possible hoping to get lucky and increase the potential stakes. Some are intimidated by the numbers and threats by the raider Adam B, most are not.
It will be interesting to see what the next year holds. Most consider OMOG a pesty fly.
Perhaps this saga is allowing the great opportunity with BDGR. If BDGR continues to produce, and can later exploit its oil/gas lands with CO2 production enhancements, BDGR is just starting to rise on its ways to many, many dollars a share.
But will oil stay high priced making enhanced oil recovery feasible?
Will BDGR use its new natural gas finds to produce CO2 to improve these wells.
A lot of interseting stuff is going on right now . . . just have to wait.
BDGR: $1.11b $1.12a
OMOG: $0.0045b $0.0049a (1.7 bil shares plus over 50 mil preferred with unknown rights)
Ajor
I have not ever posted in IHUB under a name other than Ajor. I have not posted in RB in a different name than Ajor since I have started using the name Ajor.
However, I would not have good things to say about OMOG as most here know. OMOG, IMO, is run by an unbalanced raider whose bad Karma appears to be coming back to haunt him with deals gone bad, etc.
We'll see in the future if I'm right.
BDGR: $1.11
OMOG: $0.0048
Ajor
Bubba, here is an interesting report for the US Dept of Energy. In its test for next generation EOR, it specifically uses a wells in test #3 that are 2940 fee deep. This seems to agree with my contention given earlier that the wells must be more than 2,500 ft, not 4,500 ft deep as you stated. It is possbile that I am talking about the "next generation" of EOR and you are talking about the currently in use. I'm not sure the EOR at BDGR more shallow depths only relate to those currently being developed or for those already developed, but I am sure it at least applies to those in the "next generation."
Here is the study, page 14, that I refer to. They also specifically mention Lousiana, on shore, as an example on page 33. I do not know if this report specifically includes Caddo Lake:
http://www.fossil.energy.gov/programs/oilgas/publications/eor_co2/Game_Changer_Document.pdf
BDGR: $1.11
Ajor
bubba, the Caddo Pine area, as I understand it, has at least 2 billion bbl of oil recoverable. This means the current technology would theoretically allow the oil to be extracted, even if not at a profitable rate.
I believe BDGR has at least 130,000,000 bbl of oil recoverable in its Caddo Lake and Land rights. Of course, they don't own all of the area in the Caddo Lake are (yet), but it sounds like they may own about 5% of the two billion right now.
I'm not sure why you say CO2 its not feasible in Caddo Lake. Although it may or may not be deep enough to make the oil more viscous, why would it not push the oil to the wellbore as is commmonly done with CO2 as an enhanced oil recovery method (EOR)?
It sounds like you have some personal experience in the area and that you are interested in what BDGR is doing. Your insight even so far has helped me better understand BDGR as an investment.
It seems that you are saying that the Caddo Lake area has a lot of potential especially if EOR methods are used. It also seems that you are confirming my research that points to the fact that EOR is still in its early useages stages. I have not heard of EOR being used in the Caddo Lake area but it appears BDGR will be finding out the potential for this at some point.
Regarding the gas in the area, BDGR, as you know, is about to start drilling a lot of gas wells between now and the end of the year. However, they don't know exactly what to expect. I think some gas is to be expected, but the potential for a great deal of gas, as you alluded to, does seem to exist.
Again, we'll just have to wait and see what happens. Rick Michael of BDGR is excited about BDGR's prospects. So far, BDGR seems to do what it says it will do, no matter how ambitious it sounds, although on a delayed timeframe as often happens in business.
It is good to hear you confirm that paperwork in the industry is often delayed. It might do us both a favor if you looked up some of the earier deals, mabye from early 2005, to find out what deals have been listed. How many oil wells can you find for BDGR or/and Gemini. I think someone on RB said they were able to account for about 4,000 bbl of oil per month for Gemini. I have not heard of any BDGR figures except for BDGR which claims 18,000 bbl per month in production, including Gemini, with 10,000 of the 18,000 bbls coming from BDGR.
I hope this helps.
BDGR: $1.11
Ajor
After reading the Red Chip review report, I found the following of interest:
First, the outstanding shares is just over 40 mil, not the 27 mil they list. Considering Red Chip is paid $15,000 per month to get BDGR's story out, I am disappointed in their sloppy work. If they can't get the outstanding shares right, why would anyone trust anything Red Chip has provided. Red Chip, if you are reading this, please correct your misinformation.
Secondly, it is good hear about the time frame for the gas production. I found this paragraph in the review of particular interest:
***Additionally, the company has made substantial progress preparing for gas production at the Caddo Lakes
properties and expects that gas production will commence sometime in the third quarter. This could well provide
a further boost for revenues, but at this point there is no way to project how much.***
I might note that PTLD is builing piplines for BDGR was PTLD could be a interest to those interested in BDGR. I do not own any PTLD, but I think it would make a good investment at this time.
Lastly, BDGR is now paying Red Chip review themselves. This is a change. In the past, one of the Lanza's paid for the promotion. I like that BDGR is continuing the promotion of itself. This promotion will come in handily, especially after the audtied financials come out.
I am very excited about the future of this company. While others sell, I contiue to hold every share ever bought. Yesterday we traded a low volume of shares of about 200K. That could mean the selling that took place after the outstanding shares jumped to about 40 mil finally ending. Or maybe the price just dropped too low.
In any case, BDGR is trading differently in that the price is drifting upwards instead of downwards. Although it is hard to say exactly what this means, it appears the worst may be over. If you are not in BDGR yet, now might be a very good time to try to get back in.
BDGR: $1.10b $1.13a (only 90,000 traded, with 35 min to go)
PTLD: $0.20b $0.23
Ajor
I like to keep track of the outstanding shares of BDGR. We remain at about 40 mil.
***Subject: Re: Black Dragon Resources Company (BDGR)
Date: Tue, 20 Jun 2006 09:02:51 -0500
Please note there are 40,108,092 shares currently outstanding for Black
Dragon.
Thank you
Jason M. Bogutski - President
Signature Stock Transfer, Inc.
2301 Ohio Drive - Suite 100
Plano, Texas 75093
Telephone Number 972 612 4120
Facsimile Number 972 612 4122
Email Address signaturestocktransfer@msn.com***
BDGR: $1.11
Ajor
In my detailed post mentioning the USGS, I incorrectly said that Enhanced Oil Recovery (EOR) as defined by the USGS does not include CO2 as pushing out the oil. It does as can be seen from the link I had posted when I said that. This does not change what I said, however, it does show that Bubba did not completely understand, yet, how CO2 works to produce more oil . . . And who can understand everything. That is why we help each other on these threads.
I caught this mistake after rereading my post and the links it referred to.
BDGR continues to be strongest in the am, and down from the AM highs almost every day.
Oh, well. I guess I'm earning my money now. I just don't see any reason to sell.
BDGR: $1.10
Ajor
Oregon web link that did not work. See page six on the presentation:
http://state.nd.us/ndgs/co2/WRCNDS2004%20Presentation%20Template.ppt
Also, this is the link to the BDGR webpage that referred to the EOR (Enhanced oil recovery) that started my lengthly reply to Bubba:
http://www.black-dragonoil.com/index.php?sec=2
Ajor
Great post by Bubba. Brings attention to CO2 and BDGR:
Bubba, thank you for pointing out an aspect of BDGR that I had not fully appreciated until after I tried to answer this post you made recently. Namely, I did not appreciate BDGR long-term plan of using CO2 to greatly increase the oil extraction from these very large recoverable reserves.
Let me explain more as I answer each portion of your post section by section. What I learned from answering Bubba is a perfect example of why it is good to have an honest and intelligent person asking question. Some times we just don't "get it all."
Bubba, I answer you as follows. This will be a bit lengthy:
Bubba said:
***Realistically, the number given, at least for the Lousiana properties in the Caddo Pine Island Field for potentially recoverable reserves are LOW, IMHO.***
I am not sure what you looked at exactly, but since the minimum numbers I've heard are in the billions, I think that even the lowest number would be impressive. Estimates are not exact and it often depends on the assumptions one starts with as to what your final estimate will look like. I did not spend a lot of time on this point since even the minium numbers were impressive, but if you feel I need to, I will research it more in depth.
***However, the statement that C02 injection will provide the answer to making stranded oil producible is a bit light on the facts.***
I understand why you at first would have thought this, but after the more complete info I post on this subject, I think you will agree with me when I say that BDGR properites appear to be very good candidates for CO2 recovery. I answer the following points you made via gov sources:
***C02 does it's work by making the oil less "thick" so it will move more easily. This happens as C02 is absorbed into the oil.***
Yes, this is true, but it is not the full story. CO2 works in not just one way, but a number of ways, each sepatately as an outstanding Enhanced Oil Recovery (EOR).
CO2 can work by expansion and pushing out the oil or by increasing viscosity (making it more thin)so that more flows out of the geology or both.
The quote below from the US Dept of Energy classifies Enhanced Oil Recovery (EOR) methods into three major classifications: Thermal recovery, Gas Recovery, and Chemical injection. Pay particular attention to what the Dept of Energy says about Gas Recovery.
88888 However, with much of the easy-to-produce oil already recovered from U.S. oil fields, producers have attempted several tertiary, or enhanced oil recovery (EOR), techniques that offer prospects for ultimately producing 30 to 60 percent, or more, of the reservoir's original oil in place. Three major categories of EOR have been found to be commercially successful to varying degrees:
Thermal recovery, which involves the introduction of heat such as the injection of steam to lower the viscosity, or thin, the heavy viscous oil, and improve its ability to flow through the reservoir. Thermal techniques account for over 50 percent of U.S. EOR production, primarily in California.
Gas injection, which uses gases such as natural gas, nitrogen, or carbon dioxide that expand in a reservoir to push additional oil to a production wellbore, or other gases that dissolve in the oil to lower its viscosity and improves its flow rate. Gas injection accounts for nearly 50 percent of EOR production in the United States.
Chemical injection, which can involve the use of long-chained molecules called polymers to increase the effectiveness of waterfloods, or the use of detergent-like surfactants to help lower the surface tension that often prevents oil droplets from moving through a reservoir. Chemical techniques account for less than one percent of U.S. EOR production. 88888
http://www.fossil.energy.gov/programs/oilgas/eor/index.html
With that said, a different definition of Enhanced Oil Recovery (EOR) is given by the US Geological survey (USGS)which might explain your confusion regarding EOR and CO2.
The USGS seems to define EOR more narrowly in the way you did, defining EOR only as using C02 to make the oil more viscous (thin). However, they then call the use of C02 to push oil up and out of the ground as Enhanced Gas Recovery (EGR) instead of EOR as the US Dept of Enegry does.
In short, it appears you used one definition and BDGR used another, but the result of the use of CO2 is the same: Increased oil output.
Following is the quote and link to the USGS page where I got my USGS info:
88888 Enhanced Oil Recovery (EOR): CO2 can be injected into depleted oil reservoirs to enhance oil recovery from the reservoir. CO2 will dissolve into the residual oil in place, which lowers the viscosity of the oil. The lower viscosity enables the oil to flow more easily, which makes it possible to extract more oil from reservoirs.
Enhanced Gas Recovery (EGR): As gas is removed from natural gas reservoirs, the pressure of the reservoir decreases. As the pressure within the reservoir decreases, it becomes more difficult to recover more gas. By injecting CO2 into the natural gas reservoir, the pressure of the reservoir is increased, and more gas can be recovered. 88888
http://energy.er.usgs.gov/projects/co2_sequestration/co2_outline.htm 88888
Bubba continued by saying:
***But, this [increased oil viscovity using CO2]doesn't happen unless there is "critical pressure" so that the gas is driven into solution, absorbing into the oil making it "lighter" and more producible. There is not sufficent downhole pressure above about 4K feet to make this feasible in shallower formations***
Bubba, I have an Oregon gov source that puts the depth at 2500 feet or more for CO2 flooding, however, I don't believe it says how the flooding will work (by adding pressure or making the oil more viscous). But in any case, it does appear that the properties BDGR has are at least in the ballpark for effective CO2 use.
Oregon state source. Pay particular attention to page six of this side show:
state.nd.us/ndgs/co2/ WRCNDS2004%20Presentation%20Template.ppt -
I think it is important to remember that CO2 use is just getting more recognition with the higher price of oil and it is still being learned just how effective it use is and where it can be used. BDGR management is sharp and have generally done what they said they will do. If they say BDGR properities are good for CO2 enhancement technology, then I suspect they are correct. But the real truth is probably that we don't know for sure.
In any case, the BDGR wells have been producing oil for many decades, the recoverable reserves are huge, and BDGR is at least getting its money back . . . the upside potential is great and even WAY greater (Exponentially greater) if the CO2 works as well as some think it can.
***But, this region, in particular, is about one of the best in the world for doing enhanced recovery since so much oil was left in the ground and technology up here is so far behind the times. As with all enhanced recovery projects, the key issue is the cost of recovering a marginal (additional) bbl of oil that would not otherwise be recovered.***
I agree. Nothing to add here except that you confirm anohter source I read where it said all these technologies are behind the times as far as useage. After all, oil really hasn't been high in price that long and I'm sure many are not convinced prices will stay this high. I'm not sure if they will or not.
Bubba, I thank you for bringing up the interesting aspect of of CO2 recovery and how it relates to BDGR. BDGR in my eyes is now even more valuable than I had initially assumed. It is amazing to me that this company is still being ignored, for the most part.
BDGR: $1.11
Ajor
***LMAO...
BDGR cant hide public records about something they supposedly own. too much ajor..
bubba was talking about 10 different pump sites used in 3 days like otcreporet, io circuit, stock guru. bdgr pays them to run that, in case you didnt know.
JMHO***
I think you need to re-read my last post. I think I was rather thorough. I showed how it is possible to own a property and yet not have it in your name. But you are too difficult to talk to so I do not expect to acknowledge your questions/comments anymore. However, if you at some point start to appear to honestly be discussing a subject, I might reconsider.
Regarding the s10 different pumps, he did not talk about that in the post I responded to. I copies his words verbatim and responded line by line. But if you care to show what line I misunderstood, perhaps I will be shown wrong. I doubt you will since you appear to be another blind OMOGian.
I look forward to what the future reveals regarding BDGR.
BDGR: $1.11
Ajor
bubba, I see you are a seeker of truth. And you are being very detailed in your search for the truth. Ok, let's help each other. I will put my input in for what good it might be:
***I do have some significant problems with the 2/6 PR in that it seems to purport an acquisition that hasn't taken place.***
First, let's all know what this news release says. I copy/pasted it here in Ihub for your reference. I assume this is the news release you are referring to:
http://www.investorshub.com/boards/read_msg.asp?message_id=11631657
***Put another way, "If you own it, why not file it of record?"***
I don't know. But since you seem to have done more research than myself, let me ask you this, "Are there any example of reuputable companies that do not always file it for the record? Also, keep in mind that BDGR is in the midst of a lawsuit from Adam B who raided (legally) the Lanza's oil interests and is trying to essentially "steal" all the Lanza's assets or use steal cash via the threat of lawsuits so it is likely that BDGR has good reasons to make it difficult to do any rearch on any properites BDGR owns.
Also, as a matter of comparison, can you find this same info on an ExxonMobil well? That might be instructive. Can you find any info on BDGR wells?
***That handily circumvents all of the "call the company" stuff. That is a really handy circumvention... If you own it, it should be, must be, of record.***
I might also wonder who the wells are on record with. If not BDGR, are they on record with Gemini? Is it conceivable that BDGR owns control of it via a paper rights documents, but not have the properties in its name.
In general, I agree that it is better not to ask the company managers anything. They could bias your views by being good "cons." But if you are at a dead end, you might want to call just to find out if there is a reason you have not considered.
***If a give acqusition is subject to some unrecorded agreement then that would have to be (naturally) disclosed.***
Have to be disclosed? What happens if it isn't disclosed but it in fact is what happened? A lot of deals are being worked on right now. As you know, BDGR just bought Gemini. Maybe they knew they were going to buy it (which I what I think) and they are waiting to file all the papers at once saving a lot of headaches and money.
***Don't get me wrong, the Caddo Lake properties are EXTREMELY valuable. Gulf plugged a lot of those wells in very highly productive sttes.***
Yes, this is a great property and it is nice to hear an unbiased opinion on the property. BDGR just paid $25 mil for the remainder of Gemini. I think Gemini is getting on board now to make it easier for BDGR to qualify for an AMEX and for the owners to profit from the expected price rise after the listing.
bubba, I invite you and ENCOURAGE you to keep us informed on the input and thoughts that you have. I have found BDGR to generally do what it says it will do. This lawsuit with OMOG clouds things up a bit and the allegations are bad publicity, but if BDGR continues to produce and get its auditied financials, and get listed, I think things will change. And then the settlement or buyout or trial with OMOG will clear up the rest.
Again, I hope this helps. And Atotalbum, I appeciate your input, too. I'm just used to too many babblers on on BDGR threads. It appears I had previously misunderstood you regarding the trial date. Therefore, it appears we agree that the trial date by OMOG was postponed.
BDGR: $1.11
Ajor
Business Wire; 2/6/2006
Search for more information on HighBeam Research for bdgr.
AUSTIN, Texas -- Black Dragon Resource Companies, Inc. (OTC: BDGR), announced today that it completed the acquisition of the oil and gas mineral interest for 8,000 acres lying beneath the lake bed of Caddo Lake (the area known as Ferry Lake) in Caddo Parish, Louisiana from Gemini Exploration of Shreveport. Twelve wells are currently in production, and will immediately add to the Company's production and profitability. The acquisition increases the number of wells that the Company currently has an ownership interest in to 1,087.
The acquisition adds 2,000 barrels per month of oil production to Black Dragon and approximately 300 mcf of natural gas per day, and in excess of $100,000 per month to cash flow. The Department of Energy attributes over 2 billion barrels of oil in place to this acreage.
Black Dragon will immediately begin a drilling program on the acreage to exploit the Paluxy Sands (2300 feet below the surface) and shallower proven production zones. Initially two new wells per month will be drilled in areas previously proven but not exploited by Gulf Exploration. Gemini Exploration, with over 35 years experience in the field, will continue as the operator and drilling contractor for these new wells.
Black Dragon will continue the redevelopment of its Pine Island Anocha Chalk wells at current rates and intends on increasing producing wells from 300 to 800 this year.
The acquisition was purchased for $3.2 million, which was a combination of cash and notes. The management of Gemini Exploration includes Eugene Ducharme and Jim Vesselly, both long term veterans of the off-shore oil production business with over 50 years experience.
"This acquisition positions the company for strong growth in 2006," said Rick Michael, Black Dragon's President. "Our total production should exceed 1,000 barrels per day by the end of 2006."
Black Dragon is focused on the recovery of oil and gas reserves through acquisition and project development, specializing in mature and marginal field enhancement, developmental exploitation drilling and low-risk exploration opportunities in the Texas and Louisiana regions.
About Black Dragon:
Black Dragon Resource Companies, Inc. is an oil and gas production company focused on the acquisition of mature, producing and existing U.S. oil and gas fields. The Company's focus on mature, domestic oil fields eliminates exploration risk, reducing costs, and provides immediate generation of income in a niche market where larger independent and major oil companies are not positioned to compete.
Forward-Looking Statements
Certain information discussed in this press release may constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are inherently subject to unpredictable and unanticipated risks, trends and uncertainties such as the Company's inability to accurately forecast its operating results; the Company's potential inability to achieve profitability or generate positive cash flow; the availability of financing; and other risks associated with the Company's business. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
COPYRIGHT 2006 Business Wire
This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.
eatmenasdaq, you last post I completely agree with. Yes, the trickling down does make me nervous. I noticed a trading pattern change weeks ago when we went up in the Am and down, almost always, later in the day. This is usually not a promising situation. However, I'm in BDGR to see this thing through. BDGR continues to produce and execute very close to how I imagined. Should I sell a stock for that reason?
It is my guess that the recent selling is from sellers of oil wells, etc, casing in many of their shares. You probably noticed that such buying has been going on, too. So, volume is increased and much higher prices than a couple months ago are holding. This looks similar to what happened to BIGN before it took off recently (I actually agreed it was a buy around $0.018, but since I knew they were not telling all the truth about things, I did not buy. I refer to the MCF of 450 per day for Grimes #1 that has now shown to be only 250 MCF/month which I wonder if it was not to cover those artificially high monnths, but who knows? But I still think I'm right and so far the future seems to be vindicating my past views).
So, technically, what is going on right now is interesting. The bias is downwards and I expected us to go under $1 on Friday. Some nice buying came in to hold us above $1. I do believe that the audited financials and an Amex listing are coming and possibly a buyout of OMOG since OMOG really has to settle and BDGR is not likely to give them as much as they want. Maybe BDGR should just buy out OMOG, that would make it larger, free it of all controversy, allow OMOG shareholder to participate in the quick AMEX listing, and make all happy.
On the other hand, it is possible that Adam B is such a nut and BDGR is so sick of them, that they will do almost anything to give them a hard time collecting even $1. But that would be bad business. It is always better to settle in a way that makes the most financial sense.
Anyway, Eatmenasdaq, the market has been brutal. I've given up quite a few nickels in the last month or so in all my holdings. I actaully converted to about 20% on my mutal funds a week or so ago and I don't usually do that.
Anyway, BDGR is somewhat of an experiment for me. I want to see how I do just holding. Many of the stocks I have sold in the past kept going up. I think BDGR has that potential, so I plan to hold. We are probably doing over $1 mil per month in reves right now. On Caddo Lake we could hit a big well at any time. I'm not sure we'll ever get a super big well, but that area does have that potential.
Heck, a few more 16 bbl of oil a day wells would be great in itself. Even 4-5 bbl of oil per well per day ave would be great.
I think OMOG will settle with BDGR or they will never make money. If we settle or even buy OMOG, then listing on AMEX will be even easier as we will have more assets, a cleaner track record, and even more wells to grow with. On the AMEX, we could hit $10 per share with some addtional good purchases.
BDGR: $1.11
OMOG: $0.005
Ajor
Atotalbum, you clearly stated that the trial date was always Nov 17. You fit perfectly with the OMOGians, it appears, as you seem to think you are right even when you are clearly wrong. Make up history if you want. But your were wrong. Period. Adam is wrong. Period. OMOG never should have postponed the first trial date. Period.
OMOG continues to disappoint (no matter the reason), and BDGR continues to produce (with OMOG's acorn made into "a mightly oak" as per OMOG !).
It seems OMOG erred greatly in not including BDGR the first 3 times for lawsuit! I wonder what will be the next big surpise. Let me guess. OMOG revises lawsuit in order to make even bigger claims and then again and again until they mistakenly go past the statue of limitations! And they they sue their lawyers! And then each other and then . . .
And this is all probably Young's fault, too!
For a second opinion of OMOG, I again refer you to the press release on OMOG. Young oil is the largest and historically most successful oil driller in TN. The owner twice won oil man of the year. See what this second opinion has to say about OMOG. Atotalbum, are you reading all the disparate opinions on OMOG, or are you "bumming" around.
BDGR: $1.11
OMOG: $0.005
Ajor
Atotalbum, 700,000 shares traded today. I expect more goods news to come out soon.
I think I answered all questions. I think you need to re-read the posts I made in the last few days. However, regarding the Caddo Lake $25 mil purchase, an understanding was reached and will be consummated before long. Nice try. And in case you forgot, OMOG did change the trial date from April 17, 2006 to Nov 2006.
OMOG seems to constantly disappoint. I wonder why that is?
I will say one thing, Adam B said correctly that BDGR grew acrons into mighty oaks. Now, if only Adam were that competent. Now, I think we can believe BDGR management when they scoff at Adam's actions and at what he wants from BDGR and at Adam's claims to BDGR's assets.
Unlike OMOG, BDGR management continues to produce.
How are the OMOG's Young wells doing? Panola wells? Even the Dome properities that allegedly are already producing? If fact, didn't Adam write another disappoiting letter to shareholders failing to deliver an update as promised?
I don't know how you will be disappointed, again, as an OMOG shareholder, but I think you will continue to be disappointed if the past is a good indicator of the future.
BDGR continues to produce and OMOG continues to disappoint. Know wonder OMOG stock is near its 1 year low and BDGR is up from its low of $0.165
BDGR: Approx $1.11 - something's up
OMOG: $0.005
Ajor
Atotalbum, so buba neither likes OMOG or BDGR? At least he/she appears impartial, then. But an OMOG lover and BDGR basher does not make sense, IMO. Bubba, have you considered buying ExxonMobil?
Regarding BDGR, I wonder how much oil will be found today. Will we get another annoucement late today or Monday?
BDGR is growing by via purchases with about 50% stock. Invariably, some of these sellers to BDGR are not selling stock. This is a small float stock so it moves easily, but have you noticed all the buying? Many are very interested in this company.
I do not lightly hold a stock that is falling, but I just don't see a good reason to sell BDGR. I have not sold or traded one share.
And . . . yes . . . I will be here until the future reveals the value of my opinions.
BDGR: $1.11b $1.13a
OMOG: $0.005
Ajor
Bubba, Rick Micheal is disgusted with people like yourself, IMO. You will not be given any more info than absolutely necessary until it is to BDGR's advantage. One thing you can be sure of, unlike with OMOG, the deal will be comsummmated if it has not been already (I doubt it has been).
Unlike OMOG, BDGR does not tend to so seriously disappoint. Again, why not post what OMOG has done since you have owned it that you are so proud of. You probably think OMOG is a bargain because it sells for about 1/2 cents. Do you realize Adam B produced hundreds of millions more shares of OMOG while many thought the company was actaully buying shares? And while other investors were losing money, he sold share BACK to the company and tried to say, "that was a good thing."
You seem to beleive whatever Adam says.
On the other hand, BDGR has become so valuable that OMOG is now harassing BDGR in hopes of gaining some of its wealth. Adam acts as if the knowledge of the wells that BDGR BOUGHT is a surprise. No! They are not! Adam is just slinging mud in some type of unexplicable behavior. Again, for a second opinion of OMOG, please refer to the largest and most successful oil company in Tennasee, Young Oil Company, and see what they have to say about Adam.
Again, I am sure that OMOG deserves some of the assets that are in contention, but they do not deserve nearly what is being sued for. You should know that most lawsuits are bloated and are setteled or litigated for much less.
Atotalbum, Bubba and other thoughtless bashers, you would have more credibility if you said you didn't like OMOG, too.
As for me and my money, I'll back up a winner (BDGR) and stay away from the company that tends to disappoint (OMOG).
I see OMOG is right near yearly lows. Why do you think that is? Why do you think BDGR is up from its yearly low of $0.165?
The future reveals all. I wait to see if my words are vindicated.
By the end of this year, things will become much more interesting. I think something big is up.
BDGR: $1.11
OMOG: $0.0047
Ajor
How can an OMOG pumper ever throw stones at BDGR? Amazing. I can't wait until this gets to court. BDGR managment appears to feel the same way. Oh, did you notice that BDGR side of the story is not out, yet? Wait until the counter suit comes. How do you thing OMOG will do on that day? How many people from OMOG managment post on the BDGR threads? How many OMOG lawyers post on the BDGR threads? My guess is that more than one do. Why? Because no one could be that stupid or that blind without having a vendetta.
But I'll let the future do the fighting for me as will BDGR as the future unfolds. BDGR is NOT perfect, but at least they are not Adam Barnnett of OMOG
I suggest you read the past news releases of BDGR and see just how much comes to frutition and then read OMOG's past reports and see how many times OMOG has disappointed. I may do this as an excercise just to show how pathetic OMOG is compared to BDGR.
Anyone want to document OMOG's record? Atotalbum? Bubba? Andyone?
I have seriously looked at both companies, and I assure you OMOG's record is unusually poor.
BDGR: $1.11
OMOG: $0.0047
Ajor
buba, the sale may not have been completed. In the past, purchases have been announced sometimes months before they were consumated. BDGR management is trying to let shareholders know what is up. Look at the past, and it will give you some indications to the future. After reviewing past news releases and noting how long it took those past announcements to come to frutition, I think you'll see it took 3-6 months. I hope this helps.
Regarding my child-like postings, I am glad some see me that way. I like to try to keep things simple.
Regarding Atotalbum and his confusion regarding the trial date that he SAID was NEVER changed: He was wrong. Period. It was changed and did not have to be. Make up all the excuses you want for OMOG's continuing to disappoint.
Look at OMOG's history. Please tell me what they have done other than:
1) Produce copious amounts of legal work
2) A settlement with the Dome property which could unravel if they don't win other lawsuits (OK, they'll keep a small percentage even if they lose, but not the 30%+ they would have had).
Again, how have the Young wells produced AFTER OMOG's annoucement of production, etc. Many, many disappoints, one marginal gain, two if you include "pie-in-the-sky" lawsuits.
The future is the great revealer of all. We'll see if the future vindicates poor, old Ajor.
Have you noticed how every day now, BDGR oil production increases? And the real fun is about to start, IMO, with the completed audits, the new listing, etc.
Some would like to see BDGR stock sink as what is good for BDGR is VERY bad for OMOG as it makes OMOG's enemies even stronger. But BDGR will rise. I can wait . . .
BDGR: $1.11
OMOG: $0.0047
Ajor
More results from BDGR:
***Thursday June 15, 1:44 pm ET
AUSTIN, Texas--(BUSINESS WIRE)--June 15, 2006--Black Dragon Resource Companies, Inc. (Pink Sheets:BDGR - News) announced today that three wells on Caddo Lake have been put back on pump, and the fourth is currently being worked on. These wells are the first of 46 wells located on the Caddo Lake property. These first three wells are currently producing approximately 15 barrels a day. In addition, the flowing well on the Mc Dade lease is currently producing 19.6 barrels a day. The addition of these four wells brings 1020 barrels a month, or approximately $66,000 in added income.
ADVERTISEMENT
President, Rick Michael, stated that he hopes to put on an additional 5 wells on the lake, and 15 land-based wells by the end of the week. "With the acquisition of the Caddo Lake property, we have significantly increased our reserves, and are able to improve our production at a faster pace. We still have 44 more wells to put back on production, and no one knows what they will bring in monthly revenue. Even at 4 barrels per well average, that would be 176 barrels a day. Which at $60 dollar oil, it would gross $316,800 a month."***
BDGR: $1.11
Ajor
rruff, I think the average reader knows what I'm talking about. You can pretend you know a lot, but it is obvious to me that you are negatively biased. Sure, all my terminology was not correct, but the general gist of what I said was, IMO.
Of course, if you think OMOG HAD to delay the trial date for a settlement to take place, please keep thinking that. Perhaps you should call a lawyer to see if you are correct.
BDGR: $1.11
Ajor
rruff, you are dreaming. Although delaying a trial might be illegal, proving intent is almost impossible and delay tactics in most big court cases are used, IMO.
A poster here seems to believe that BDGR can't hold legal counsel because it is too sleezy, or something. The law is blind to guilty or not guilty. All it defends are the rights of the party in quesion and present their side of the case. A professional counsel would not be likely to withdraw because of a "sleezy" counsel. Now, they would be likely to withdrawl to delay things a bit.
To even suggest that BDGR can't get counsel is to not understand the American legal system AT ALL.
Regarding posting on OMOG sites, I invite, encourage and WANT the possible negatives about my investments to be discussed. I will learn more from BDGR detractors than from the pumpers. For in looking at the potential/actual weaknesses, I better understand a company. All positive hype makes one complacent and nervous on any stock price bumps or negative sounding news.
Again, I hope all OMOG hypers who have something intelligent to say about BDGR's negatives, please bring them up for discussion and documentation.
I hope that OMOG isn't afraid of the same scrutinty. Afterall, would you rather be in the darkness or the light regarding your investments?
BDGR: $1.11
Ajor
First, we have not been saying the same thing. You said the trial has always been for Nov. Here is a link to your recent post clearly stating that. Maybe your post was poorly worded and you miscommunicated what you meant to say:
http://www.investorshub.com/boards/read_msg.asp?message_id=11589305
Regarding this:
***Law says you have up to 30 days prior to the court date to settle this. After that you are binded to the court date set.. ***
So why postpone the trial date? Why not "go for it"? I do have a more positive spin on things for both parties, one that I beleive is likely. Perhaps BDGR and OMOG are stalling time for a more opportune time for BDGR to buy out OMOG. As you know, BDGR just bought out Gemini Exploration for about $25 mil and its oil/gas production is expected to quickly double from its currently monthly production. Maybe later in the year, after BDGR stock price rises from the new listing, BDGR will have the higher stock price with which to buy out OMOG.
Or maybe BDGR can't deal with a "crazy" person like OMOG. Read the Young press release for a company's second opinion of OMOG.
Regarding the timing of a settlement, it is my understanding that a settlement can be made at any time prior to the final judgement, including AFTER a trial is started. It would not make sense to forbid parties to settle amicably. Again, use some common sense (not that law is not often not intuitive).
BDGR: $1.11
Ajor
Atotalbum, can't you admitt it when you are wrong, or do you have OMOG sickness like many of the OMOG pumpers?
We did not say the same thing. You made it sound like the OMOG trial date was always Nov 2006 and I clearly stated it was changed from Apirl to Nov. My exact words were:
***It has been delayed to Nov from April for NO apparent good reason.***
I further defend my position by addressing your following compaints:
***Ajor, your constant defending of BDGR is almost comical. the accusations of being a water company...***
The name of BDGR is "Black Dragon Resources." When current management took it over, the company owned a number of decent sized artesian wells. The company still owns these water wells to the best of my knowledge. During Katrina, they offered free water (I'm not sure if they ever had to). The company, however, is mainly an oil/gas company. Would you rather they make water pipelines or gas pipelines as is currently being done at Caddo Lake? Nothing to make "accusations" about regarding owning those water wells.
***... and certain people that run BDGR have a felony background.***
I addressed this already in an earlier post. Again, it sounds worse than it is. Tax evaders are "felons." Joe Lanza is, I assume, a stockholder in BDGR. He is a felon for tax evasion as is the case with a number of prominent rich people. This is not, IMO, a fatal strike against BDGR. But perhaps a more conservative investor would think it was. Then again, a more consevative investor would own ExxonMobil instead and pay the associated premium.
***You admit BDGR just dumped 5 million shares out there with no explanation.***
No, I did not say they "dumped." They just increased there stake in the Caddo Lake area. They have been increasing oil production every month in corrolation with their growth. Now, OMOG issues shares and what results can you point to? Some of the recent share price pressure, I assume, is related to these additonal shares.
***Now they are running like 7 different pumps thru all sorts of agencies but it goes down.***
I'm not sure what you are saying. I assume you are talking about Investor Relations promotions? I know that Joe Lanza paid 250,000 shares of BDGR when BDGR was $0.45 per share to the owners of Red Chip Review to promote BDGR. BDGR has something to say? BDGR is on the Cusp on some impressive growth that is likely to continue at current rates for the next year, +. I would be upset if the story was not pushed. Wait until the audited financials are done and the get a new listing. Then I hope to see even more "agency" work.
***But you say all adam is going to to is dilute, even though the prefeerds were restricted.***
OMOG's preferred were said to be to stop a takeover. However, all he mentioned were preferreds which I assume only he and his buddies will get with a takeover. Why not a standard poision pill to prevent a takeover like most companies? I don't trust anything Adam says as his past performance is riddled with nothing but disappointments as far as I can see. Please refer to one of my other posts to name a number of those recent disappointments. In fact, I find it hard to find much success.
***Looks like BDGR is diluting***
Yes, dilution is standard with growing companies. BDGR will do better and better as the stock prices rises as it will use its higher stock price to effectively buy more wells/assets even more cheaply. Now, dilution without payback is a problem. I see that problem with OMOG, not with BDGR.
***Im gonna guess that you dont even own BDGR.***
I own BDGR. I bought 1/2 just under $0.60 and then 1/2 about $0.92.
***You are here to provoke emotion, fear, anxiety whatever because its easy to do in this situation with so much info being held back by the lawyers.***
I don't want to provoke fear, anxiety or anything on any stock. However, it is nice to express my opinions. I try to be impartial. I think I am more impartial than most even for a stock like BDGR which I continue to hold. Much info is being held back by the BDGR lawyers. That is professional and intelligent, IMO. OMOG, on the other hand, to me, seems to be the opposite. Again, look at the history of Adam B and legal tangles. To me it was discomforting and along with OMOG's past track record stopped me from buying OMOG. I bought BDGR instead after reviewing OMOG past press releases vs what happened. Since then (late last year), OMOG has continued to disappoint with the Young leases now found to be "not performing" as previously announced, the settlement with OMOG not taking place, the lawsuit being changed until Nov (there was never an intelligent reason to not start the lawsuit. There is no reason to not hold settlment talks while on trial, IMO.)
**Its jus funny how you adore BDGR, lol. But think adam is all things evil.. hahaha***
I admitt it, I am "in love with BDGR." I admitt my weakness. In general, it is bad to "love" any stock. Am I foolish for continuing to hold BDGR? We'll see what the future holds.
I have not sold or traded on share of BDGR since I bought it.
BDGR: $1.11b $1.13a
OMOG: $0.0047b $0.0048a
Ajor
***Lets see if on the 20th of June if BDGR still has a lawyer or not. Then what will happen?***
Again, I have no inside info but I try to use logic. Was the withdrawl to stall the case? I think so. I am sure it is the oppositions strategy to drag the legal work out until OMOG cries "uncle" relizing it will cost more to win than to settle.
In the meantime, OMOG, I beleive, wants to make it as difficult as possible for BDGR to not settle by trying to make BDGR to look bad and hurt them where it hurts, BDGR's stock price. For, you see, it is well known that a higher stock price would help BDGR get listed and that in turn would probably raise BDGR's stock price and make it easier for BDGR to make more money with which to fight OMOG and with which to esentially ignore OMOG since its ultimate "payout" will become a smaller and smaller percentage of its revenues/profits.
The evidence that this is in actually a common delay tactic can be found on OMOG's website where the actual petition to withdrawl is posted. In the petition itself it says, "This petition is not sought to delay." That can be found in Paragraph I at:
http://www.omogoil.com/londonmtntowithdraw.pdf
Is that ethical conduct by BDGR and its cousel? I would say not, if that is what they are doing (and I don't know if it is), but it is VERY common- and that is why that line was put right into the petition.
Now, OMOG, I beleive, is trying to "extort" a settlement by putting pressure on BDGR's share price. The problem, however, for OMOG is that the future reveals all. It reveals how well BDGR continues to do, it reveals how poorly Adam continues to do. It is unorthodox to post such legal papers on a professional website. Why would OMOG post BDGR counsel to withdrawl knowing that is a common delay tactic?
What is going on at OMOG seems childish. Read the posts by the OMOG PUMPERS? Many, I'm sure, are very intelligent people who post dishonestly, IMO. Fat, for instance, does not make sense to me. He seems unethically biased.
But let's see what the future brings. I could be wrong about BDGR, but so far I see no reason to change my very favorable opinion of BDGR.
The listing of the wells would also be as difficult as possible track so that it is hard for OMOG to know where anything is or what it is doing. I don't like this aspect of things, but when/if the auditied finanicals come out, I think it will make things less risky for BDGR shareholders. If the auditied financials are delayed, I beleive it will only be, again, to make it more difficult for the litigation involved.
It is my beleif that BDGR initially hoped to have this litigation settled to make the audit cleaner and listing more easy. Perhaps OMOG wanted to much in BDGR's astute estimation. I am sure that BDGR would like to settle things, so I assume they found a way around the OMOG problem. Maybe they have more oil/gas on other properites than they at first realized. Or maybe the high price of oil has made it easier to go around an OMOG settlement.
In any case, the fact that BDGR was just added to the case shows that OMOG's case against BDGR is probably more to put pressure on the Lanzas and BDGR's stock price than on the merit of OMOG's case against BDGR (Lanzas profit from BDGR stock price rising).
I take comfort in OMOG's poor record of performance since the BDGR's managmenet left OMOG. It is usually better to stick with winners rather than losers. That is why prospective employees look at resumes. OMOG under Adam does not have a good resume, IMO.
But we'll see what the future holds.
BDGR: $1.12b $1.13a (up from its low of $0.17)
OMOG: $0.0047b $0.0048a (near its low)
Ajor
***Seriously, do you accept the valuations and are you a bit suspicious that the Lanzas are involved in both companies? Is it really creating value by selling assets from one pocket to another and putting an artificial value, which in this case is in the millions of dollars?***
rruff, you are right. I am a cheerleader of BDGR. But you are wrong if you think I am a mindless pumper. I find BDGR a very exciting company, and I personally find the oil/gas business exciting.
With that said, a lot of what is going on with BDGR is being tauted in a malicious way by its enemies. Adam B of OMOG is a corporate radier who seems to have essentially betrayed the Lanzas and stollen control of OMOG. I think you will find with more research, that Adam B himself calls himself a raider of OMOG. But Adam is NOT knowledgable in the oil/gas business. Again, he himself admitts this. Where OMOG was once a thriving company, Adam is running it into the ground.
The assets that OMOG almost held had safeties behind them for those who put up the cash (Lanzas) and certain conditions were excercised when Adam tried to steal control, as I understand things.
Now, Adam being a risk taker, and seeing all the Lanza's owned and an opporunity to raid the company, did just that. But his gamble appears to have not paid off as the Lanza's have done everything in their power to make sure the raider gets as little as possible. Adam appears to have won to some degree in that some of the assets will almost cetainly go back to OMOG, but many never will and should not- LEGALLY. Depite OMOG's claims, the Lanzas had legitimate claims to many of the assets. Some of the claims were less clear, and others were who knows what. But the Lanzas and others who were raided need to protect their interests and use as leverage all that they can which means NOT giving up any assets until the very last second.
I believe that as part of the defense strategy, the assets are being moved to various businesses to make it much more difficult to get the assets back or to make it much more difficult to collect even if they win. This means that OMOG will have to settle if the Lanzas let them. So far, the Lanzas have not let OMOG settle. It appears that Adam has misjudged how difficult it is to run an oil/gas business.
With very little, BDGR (and Lanzas) have grown BDGR to an impressive size. OMOG continuest to have its resources shrunk. There is a real danger to OMOG that it will run out of cash before it can even settle. I think BDGR and friends know that. I think Adam knows that. It is in Adam's best interst to settle and I suspect he will, but not nearly at the prices currently being expoused, IMO.
In any case, BDGR is doing so well now, that even if it loses all the assets bought from PTLD, etc, BDGR will still be worth more than $1.00.
And yes, Joe Lanza was convicted of tax evasion. This is not good. It is outright bad. This puts him in the class of many extremely rich people convicted of the very same thing. This makes him a "felon." It is bad, but not a label for able business people.
Much of what is going on with BDGR and the Lanzas and OMOG is being distorted. BDGR will say little as possible to give OMOG as few clues as possible to make it as difficult as possible to get anything. I don't think it is disputed that some assets should go to OMOG, but I think it is disputed about what is OMOG's responsibiliity (including debt, etc.).
When lawsuits are made, they are inflated to intimidate the opposing side. I actually think it would be best for BDGR to just buy out OMOG and get all players on the same side, but that does not appear to be about to happen as far as I am aware.
Everything I post can be found on public doucments and these chat boards. I don't claim to know everthing or to claim that the Lanza's are "without sin," but I don't think Adam B is a good person to back up while he "throws stones at BDGR."
In short, the asset plays with PTLD make it hard for OMOG to recover assets. The assets really are legitimaltey held by BDGR to a least a good extent, and Adam, even if he is 100% right may never get the money many "believers" expect.
Lastly, it is my understanding that the legal doucments required to prove their case by both parties have important documents/signature missing. Some of these important signatures were omitted under Adam's rule, and others were either lost or never propertly finalized. The lack of detail as is often the case, muddies the "story" given by each side so a settlement really must be made. That is why after reading the legal documents I started to post a settlement was likely.
I hope this helps to clarify some of my thinking on OMOG/BDGR. I hope after studying OMOG/Adam that you will see he continuously disappoints shareholders and Adam is invoved in many "odd" lawsuits with various companies, some not even related to any of these cases so far mentioned.
BDGR: $1.18b $1.19a
OMOG: $0.0047b $0.0048a
Ajor
Atotalbum, you are mistaken regarding the previously scheduled trial date. It was previously scheduled for April 17, 2006. It has since been changed to Nov 2006. I post the followin OMOG link and paragraph from it as evidence:
http://www.omogoil.com/omog23.pdf
***As we stated in our last press release, a trial date has been set for the week of
April, 17 for our lawsuit against former management and consultants. Depositions
will begin right after the New Year and are expected to take
three to four weeks. Our counsel continues to inform us that the strength
of our case gets stronger as the court date approaches.***
For all the OMOG newsletters, you can go to:
http://www.omogoil.com/investori.html
Although his postings sound very serious and honest, one can often discern a management's integrity better by comparing past press releases with what actually happened. I think you will find it rather instructive as to why one might NOT want to believe ANYTHING OMOG says, including MOST about what it says about BDGR.
I would challenge you to find where OMOG has NOT disappointed in the past. I suggest to you that they will disappoint regarding this "good-sounding" lawsuit. I could be wrong, but I don't like to bet against winners (BDGR) and bet for losers (OMOG). I don't say this maliciously, but the "proof is in the pudding."
Panola lease was not "great" as some might have expected.
Panola lease was NOT sold as announced and expected.
Young leases NEVER produced as was announced and expected.
Young is NOW being sued by OMOG (the largest and most successful operator in Tennasee, by the way).
Trial against Lanza's, etc., was been changed.
Tentative settlement of disputed wells NEVER came to fruitition.
Where has OMOG ever said ANYTHING that came true?
Also, wasn't OMOG supposed to be buying shares only to be found shares increased to over 1 billion to 1.7 billion?
Also, hasn't OMOG promised there would not be a reverse stock split (extremely unlikely), only to recently hint there would be a reverse split?
I could go on and on, but I think for the open mind, you will see Adam and OMOG are at best "nuts," IMO.
One last thought I would leave you on the BDGR/OMOG/everyone settlement is that OMOG stated that all have settled but BDGR. That does not ring true to me since the Lanzas are involved with all parties/wells in some way, if I am not mistaken. In fact, if you go to the board of directors of BDGR, you will see that a Lanza is on the BOD of BDGR and with more research you will see that a Lanza privately paid for IR coverage on BDGR.
My understanding is that BDGR fully plans now to fight OMOG for everything. Where I can not say BDGR won't settle, I think you can be fairly certain that if BDGR and others do settle with OMOG, it will be for much less than most are expecting. Afterall, doesn't OMOG tend to disappoint?
And if BDGR, et al, do fight OMOG tooth and nail, you can wait decades to get everything even if right. Remember, the assets come with liabilities, too, not just the good. And what are those liabilities, etc? Each well will have to be fought over, IMO.
Maybe I'm wrong, but BDGR is where I have my money bet. So far, I see no reason to change my mind. I have not sold or traded one share of BDGR.
The future is the great revealer of everthing. We'll see later if I am right about BDGR.
BDGR management has generally right. If they are right, this should be a good time to buy more shares of BDGR, but who knows?
BDGR: $1.16b $1.19a
ajor
I think the discussion here has been excellent with atotalbuma and the other newbie. Let's take all questions serious. We learn more from those who are skeptical and ask good questions that from those who just hype. Some think I fall under that category, but I don't. Or at least I don't like to!
Atotalbum, it was my understanding that they were to go to trial April 17, 2005. When the mediation was announced, the court date was postponed until Nov. I could be wrong about my understanding, but I don't think so. Otherwise, this would mean that no court date was EVER established. I believe you can find in an OMOG news release about the court date being postponed in order to add BDGR, etc. Again, that seemed strange since it was obvious that BDGR held some of the disputed properites for quite some time.
BDGR: $1.15b $1.19a
Ajor
***I dont know but OMOG and BDGR are both struggling and have no buying pressure***
OMOG is up a litte from its year lows and BDGR is up very many fold from its $0.17 low. I don't think the comparison is that great. Almost every security in the world is struggling right now.
Fundamentally and in ACTUAL RESULTS, BDGR continues to produce more oil every month and OMOG continues to do what? They have not even managed to start a court hearing so far. It has been delayed to Nov from April for NO apparent good reason. Certainly it could not be just to add BDGR to the case since it has always been known what BDGR has owned.
No, OMOG seems to like disappointing its shareholders. Soon more dilution is coming for OMOG with, again, no real results. OMOG has NO money, and a settlement may never happen. I get the feeling that BDGR is looking to make OMOG work VERY hard for ANYTHING after what they have been doing recently in an apparent attempt to malign BDGR and impede its move to a larger board.
But I don't think it will work. BDGR will not be "pressured" into any trading of money. We can wait. How profitable is it for OMOG to wait?
More shares are coming for OMOG, IMO, with no more real progress.
BDGR continues to do exceptionally well, and OMOG continues to disappoint. What stock would you rather own?
BDGR: $1.12
OMOG: $0.005
Ajor
***anyone called the TA to check the last OS.***
About 40 mil. I contact them a couple times a week. My last count was on Monday.
I post this info regularly, or when there is a change.
The price of the stock might fluctuate, but I think this company is worth much more. I'll wait to see what the future reveals about my opinions for vindication of my opinions (or not).
This has been an interesting ride so far. I believe that when the share count increased from 34 mil recently to 40 mil, that increased profit taking took place. Eventually the easy money makers will be gone and only those like myself will be left and the price will rise.
Of course, the price of oil could foil plans to some degree, but I like BDGR as my oil play and despite the nice retracing recently, I'm still up on every purchase I've ever made in BDGR.
I have NOT sold or traded one share of BDGR. I hope my patient will one day be rewarded.
OMOG continues to disappoint. BDGR continues to hold much of the great gains its made in the last six months . . . and I think this is just the beginning
Sad times now, glory later?
BDGR: $1.12
OMOG: $0.005
Ajor
Derekz, I think I am guilty of falling in love with BDGR. But I can't help it; It is so beautiful.
I like what is going on at BDGR. I even like the challenge of the OMOG lawsuite. In a way we are way down from where we were when BDGR was at its high of $2.40, but I strongly believe that IF oil prices hold up, BDGR will sell for much more than $2.40. I was not willing to sell my shares for that much. I think I want to see what happens.
BDGR is NO OMOG. BDGR's low was about $0.17. $1.12 is a far cry from that. OMOG's low was about $0.038, close to where OMOG is now. OMOG consistently disappoints, and I am fairly certain that OMOG will continue to disappoint.
I have not added to my position, but I am actually considering it. For me to this that would require more in-debth research which I have not decided to do at this time.
I would have to vist the headquarters, visit wells, talk to OMOG officials, various lawyers, etc. I think it will be easier to not "up the ante" and hold my hand to see how much I can get from it. I'd say we are holding at least a couple of "Jacks" and have a decent chance of continuing to do well with BDGR.
I have seen stocks go from just below a dollar to over $10 on stories of similar quality to BDGR, so I'm sticking around. Not just because of that, however. I have found BDGR generally has produced what it said it would produce. BDGR on some counts like SEC documents and listing and even production figures, are about a year behind, but they have in many regards already met past aggressive targets. I do believe that in time all its currently announced targets will be met. These include:
Listing
Audited financials
1,000 bbl of oil per day oil production.
We just have to wait until all the ducks are in place. I happy overall, and the payoff will be large if we are right.
BDGR is still up about double from just a few months ago. OMOG holders could only wish to be doing that well.
BDGR: $1.12
OMOG: $0.48
BIGN: $0.031
Ajor
***Lets wake up here Adam OMDA needs a image makeover and a reputable pr agency***
Adam needs to sell the company to BDGR, but not nearly for what you expect. I don't ever see this company being worth $0.10 fundamentally. If anything, it decreases in value with each passing month. Now BDGR, it increases in real value every month. OMOG should let BDGR take it over for some cash and stock. Then OMOG shareholders could benefit from the BDGR management and BDGR could benefit from OMOG's rightful assets that could quickly be settled.
OMOG would not have to demand as much as both sides would be on the same team via the mutual stock ownship in BDGR. And all this mess would be cleared up. It is the only decent way to go IMO. Of course, it is possible that OMOG just doesn't have enough to offer current shareholders of OMOG.
It is possible the HOPE is better to hold than the reality of what OMOG is worth, even to BDGR. Maybe OMOG is worth less than what OMOG is selling for even at $0.0048.
But who knows?
BDGR: $1.12b $1.14a
OMOG: $0.047b $0.048a
Ajor
***What's more likely a double here on OMOG or BDGR. I doubt BDGR will ever reach 2.70.***
OMOG already hit is real fair value last month. BDGR has not been their yet, IMO. Let's see what next year brings IF oil stays up in price.
BDGR: $1.16
OMOG: $0.048
Ajor
BDGR touched $1.06 today! Now $1.16b $1.17a. Only 96,000 shares traded after 1 hr.
I have not sold or traded one share. The entire world is not doing well right now.
I still think BDGR is going up. A lot of good things are in sight. Just have to wait to collect the REAL paycheck, not the 100% on BDGR already made. No, I think BDGR is worth much more.
But who knows?
OMOG: $0.0048
Ajor
***By the way, if OMOG needs any money, all they have to do is ask. I have plenty and so do others that are in OMOG.***
You will need lots and lots of money to win everything. It could take decades before this is settled completely. You basically have to settle. You'll see. Or be bought out.
I vote that OMOG will be bought out, but who knows? Adam might not be sane enough to do something that smart, IMO.
But we'll see what the future brings. Remember, winners tend to win and losers tend to keep losing. BDGR is a proven winner. I believe OMOG and Adam B will continue to disappoint.
BDGR: $1.35
OMOG: $0.0059
Ajor
***Ajor, you talk about legalities in your post. If, the convertible notes hold any water, why didn't/doesn't legal counsel for Lanza et al file a Motion for Summary Judgment on behalf of the Defendant's, and end it all now?***
Let me ask you this: If it was such a "slam dunk" why was BDGR just added to the lawsuite? Is it because BDGR is doing so well that it now has deep pockets and OMOG is doing very poorly on any basis and hoping to "extort" an unreasonable settlement from BDGR?
It is not as if the paperwork by Adam was all done and nicely organized and only the Lanza's side of the paperwork was done wrong. No! As I understand it, both OMOG and the Lanza's had lapses! But OMOG thinks it deserves more than is remotely reasonable, IMO.
If you read the petition to drop counsel, it even states the obvious and says, "this petition is not an attempt to delay." Now, OMOG plays the game to post on these boards that it is more than it really is knowing that BDGR can't say "we are just trying to delay things."
And I don't even remember reading that the petition has anything to do with BDGR! Where are they mentioned!
But this saturday, I see OMOG now admitts it will be issuing more sercurities to get more money to continue to fight a battle that is likel to go on for a very, very long time. In fact, I would say that we are in the first minutes of a record long baseball game.
And remember, only a small part of the $50 mil hoped to be gotten will come from BDGR, even if OMOG wins everything!
BDGR: $1.40
OMOG: $0.006
Ajor
***AJor I dont know the answer to the preffered shares dont think anyone does. I do know that the charts for omog look good for a uptrend. I think OMOG will win something out of this.***
OMOG will not only get something, but they should get something. However, expect to be disappointed by OMOG management and even BIGN. You were already disappointed with the Grimes #1 well output, weren't you? I told you that you would be disappointed. Wait until you see how poorly things really unfold for BIGN.
Regarding OMOG, you will continue to be disappointed.
Regarding BDGR, they continue to get stronger each month. Of the lawsuite that OMOG has, only a small portion of it is being claimed against BDGR. Since nohting was stollen from OMOG, a claim to other assets is a joke put out to trick, IMO, OMOG investors. The assets are taken legally and sold legally. OMOG should get something, but it is hard to deal with a "crazy" person, IMO.
Look at all the lawsuites Adam B. is somehow always involved in. Doesn't it make you wonder?
How much is he trying to get from Yound Oil for his $150,000 investiment! Another $14 million! Sure, it's not him, it's everyone else!
There are countersuites against OMOG in the works. OMOG holders might find them interesting. It seems like extortion to me. It seems like OMOG is trying to hold BDGR stock price back by releasing news involving BDGR whenever BDGR releases big news.
Well, BDGR has not even begun to fight back. Unlike OMOG, BDGR has a lot of money and those profits will be growing much faster this upcoming year than the past year. Unlike OMOG, BDGR actually knows how to grow a company and how to make deals amicabably and profitably with others.
I suggest Adam and its management:
A) Take some classes on the oil/gas business
B) Take Dale Carnegie's course on "How to Win Friends and Infuluence People."
C) Settle ASAP with BDGR so he can stop making a fool of himself.
We'll see who gets the last laugh in the upcoming years (many years to get anything from BDGR, if not decades if we fight).
Oh, OMOG will issue many hundreds of millions more shares and have a reverse split in the future. If not, one would have to ask "why not"?
Lastly, BDGR low in the last year was about $0.17. It is up many, many fold since then. How much is OMOG up? Need I say more? But stock prices can be manipulated (Eatme, you usually buy PUMPS and DUMP), so let's look at what each company has produced as results. Again, BDGR has done EXTREMELY good and OMOG has done SURPRISINGLY poorly.
Eatmenasdaq, hopefully we'll both make money. We usually do, even if you do it on PUMP and DUMPS Oh, and you get no credit for any alledged trading in BDGR since you did not say when you bought BDGR in a timely way or when you sold it in a timely way (you even went against when you posted you would sell). I hope your info on OMOG is better than you info on your BDGR trades.
BDGR: $1.40
OMOG: $0.006
Eatmenasdaq, there is a zero percent chance OMOG will win the case. Rememeber, it has never been disputed that OMOG will not get something. They just won't get to pick and choose what they get. They will get assets along with preexisting debt. They will get some of what they want, and not get some of what they want. All the paperwork was not done properly on Lanza's part and Adam's part, as I understand things.
Do you really think a judge will give OMOG everything and nothing to those who held convertible preferred shares? You need to do some DD here.
Of course, I'm not saying OMOG is not a decent PUMP and DUMP. But fundamentally, the value is not there.
Ajor
Sure, no reverse split is ever coming. It will be a day of vindication when it is finally announced. And wasn't OMOG supposed to be buying back shares and not issuing shares at one time? How did you ever get 1.7 billion shares? Oh, right, the lawsuites.
BDGR: $1.40
OMOG: $0.006
Ajor
First, did't Adam previously make it sound like legal expenses were minimal? Weren't these lawsuite based on a contingency basis? Don't be fooled by this raider Adam.
Secondly, I wonder how many shares those preferred convert into? Eatmenasdaq, care to answer that question?
Thirdly, more shares to be issued to raise money. Ok, you have 1.7 bil, plus who knows how many shares of preferreds that will convert. And Adam sold some of his shares back to the company? Sound odd to anyone who has a "sure winner"?
Lastly, BDGR is a winner. OMOG is a loser with a proven loser history.
The future will be interesting. We'll see how good Ajor opinions were.
BDGR: $1.40
OMOG: $0.006
Ajor