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Super Gold Rush, that is a very accurate posting. Time will determine whether my bet will pay off or result in another microcap failure. Since I am still buying, I continue to bet on the company's (and my) success.
I agree. My order entered at the start trading filled at 9:54 am. 40,000 shares @ 26 cents. My current order of 30,000 shares at 23 cents has been surpassed by higher bids.
I agree that this is a large acquisition for a $10 million market cap company. The June 2014 Investor Presentation indicated that there may be more acquisitions in 2014.
Armada continues to evaluate properties with existing production as wel as driling and enhancement potential and hopes to make aditonal acquisitons in the 2nd half of 2014. (page 4)
http://armadaoil.us/wp-content/uploads/2014/06/Armada-Investor-Presentation-June-2014.pdf
I just acquired 52,800 shares at 26.1¢ at 1:30 P.M. My order was established prior to the opening.
Requesting an E-3 Visa for a VP of Operations & Engineering is an indication that there may be something big planned. The recent crude price downturn, however, may hamper any plans.
[url]http://visadoor.com/h1bvisa-2014-I-203-14152-818855/vice-president-of-operations-and-engineering-terex-energy-corporation#.VD_y2PnF-YI[/tag]
[url]http://www.uscis.gov/working-united-states/temporary-workers/e-3-certain-specialty-occupation-professionals-australia[/tag]
This may be good news for the company and shareholders.
Anadarko, EOG Strike Deal With New York AG on Fracking
By Sophia Pearson - Oct 3, 2014
Anadarko Petroleum Corp. (APC) and EOG Resources Inc. (EOG) will disclose to investors the financial risks of fracking as part of a deal with New York Attorney General Eric Schneiderman.
The companies agreed to provide publicly accessible information on the financial effects of regulation, litigation and environmental impacts of their hydraulic fracturing businesses, Schneiderman said in a statement today. The companies will release the information in filings with the U.S. Securities & Exchange Commission.
“Investors and the public have a right to know all relevant information,” Schneiderman said in the statement. “These companies are setting a strong example for the rest of their industry.”
The agreement comes as the oil industry looks for ways to ease public fears about fracking after legal setbacks and concerns about water pollution. With the U.S. poised to surge past Saudi Arabia as the world’s largest supplier of oil in 2015, states are now regulating the drilling process.
Fracking, which has helped set records for natural gas production, involves a technique that shoots a watery mix of sand and chemicals underground to release gas and oil trapped in shale rock. Parts of New York sit above the Marcellus Shale, a rock formation estimated to hold enough natural gas to meet U.S. demands for almost six years.
New York’s high court ruled in June that the state’s cities and towns can block hydraulic fracturing within their borders, dealing a blow to an industry awaiting Governor Andrew Cuomo’s decision on whether to lift a six-year-old statewide moratorium.
To contact the reporter on this story: Sophia Pearson in federal court in Philadelphia at
spearson3@bloomberg.net
To contact the editors responsible for this story: Michael Hytha at mhytha@bloomberg.net Joe Schneider, Charles Carter
I received my information statement. It is the same document that the company provided to the SEC.
http://www.sec.gov/Archives/edgar/data/1287900/000107258814000096/rancherdef14c.txt
My understanding is that the company will only earn $131,250 from the sale.
To: Terry Vickery
Managing Member
Energy Management Resources, LLC
445 Inion Blvd
Suite 101
Lakewood, CO 80228
RE: Offer to sell oil and gas leases, wells, production and equipment located in Young County Texas, sometimes referred as “M.V. Keller - 23 acres lease” field no. 07484 and “M.V. Keller -100 acres lease” field no. 07415
As further described in Exhibit A attached hereto and incorporated herein by reference (collectively, the "Subject Properties").
Mr. Vickery,
Armada Oil, Inc. et al, and/or related entities ("Seller") hereby offers to sell unto Energy Management resources, LLC., et al, ("Buyer") all of the right, title, and interest, including all real and personal property owned by ("Seller") in the property and respective interest shown on the attached Exhibit "A" for the sum of Ten Dollars ($10.00) and other valuable consideration (“Purchase Price”). Seller shall reserve a 17.5% overriding royalty interest until payout in the Subject Properties. For purposes of this agreement the term (“Payout”) shall mean that point in time when Seller shall has recovered from it’s overriding royalty interest an amount equal to One Hundred Thirty-one Thousand Two Hundred Fifty Dollars ($131,250.00).
The properties to be purchased shall include Seller's working and revenue interest plus all oil and gas, fee, mineral, royalty, and producing and associated non-producing leasehold estates; franchises, licenses, servitudes, easements, surface leases, rights-of-way, contracts and agreements affecting such estates; production facilities, salt water disposal systems, pipelines, gathering lines and any other personal properties or fixtures used in connection with the operation of such estates for oil and gas production. All of the foregoing shall hereinafter be referred to as the "Property".
http://www.sec.gov/Archives/edgar/data/1081074/000118518513002457/ex10-2.htm
Here is the last press release from the buyer.
http://www.otcmarkets.com/stock/NHPI/news/NHPI-Has-Completed-4-Work-Overs-on-Producing-Wells-on-the-Keller-Leases-in-the-Ft--Worth-Basin?id=77325&b=y
Red Mountain Resources, Inc. Announces Cancellation of Public Offering of Preferred Stock
DALLAS, TX, September 9, 2014 – Red Mountain Resources, Inc. (OTCQB : RDMP.QB) (the “Company”) announced today that it has cancelled its proposed underwritten public offering of shares of its 10.0% Series A Cumulative Redeemable Preferred Stock (the “Series A Preferred Stock”). The proposed offering was conditioned on listing of the shares of Series A Preferred Stock on the NASDAQ Capital Market, which has not yet been approved by NASDAQ. The Company expected to use the net proceeds from the proposed offering to fund a portion of its fiscal 2015 development program. The Company is evaluating other sources of capital to fund its fiscal 2015 development program.
http://www.sec.gov/Archives/edgar/data/1483496/000138713114003222/ex99-1.htm
I am wondering if a source of capital to fund its fiscal 2015 development program is a sale of its majority ownership in Cross Border Resources. If not sale of the entire ownership position, possibly the sale of the undeveloped acreage in New Mexico or sale of non-operated lease ownerships. Other thoughts from investors?
Bobwins,
It is possible that KeyBanc believed it was entitled a transaction fee when Red Mountain Resources took a controlling interest in XBOR. Here is what was in the last XBOR 10-K:
The Company was previously party to an engagement letter, dated February 7, 2012 (the "Engagement Letter"), with KeyBanc Capital Markets Inc. ("KeyBanc") pursuant to which KeyBanc was to act as exclusive financial advisor to the Company’s Board of Directors in connection with a possible "Transaction" (as defined in the Engagement Letter). The Engagement Letter was formally terminated by the Company on August 21, 2012. The Engagement Letter provided that KeyBanc would be entitled to a fee upon consummation of a Transaction within a certain period of time following termination of the Engagement Letter. On May 16, 2013, KeyBanc delivered an invoice to the Company in the amount of $751,334, representing amounts purportedly owed by the Company to KeyBanc as a result of the consummation of a purported Transaction KeyBanc asserts had been consummated within the required time period and its out-of-pocket expenses in connection therewith. The Company disputes that any Transaction was consummated and that KeyBanc is entitled to any out-of-pocket expenses. The matter was originally filed by the Company in the 44th-B Judicial District Court for the State of Texas, Dallas County but was subsequently removed to the United States District Court for the Northern District of Texas, Dallas Division where Key Banc filed a counter claim against the Company. The Company and Key Banc have each filed motions for summary judgement, requesting the Court to rule in their respective Favors. The Company intends to vigorously defend the action.
http://www.sec.gov/Archives/edgar/data/1373485/000138713114001427/xbor-10k_123113.htm
The case was due for trial in early September. Management may have believed it was going to lose so it sought an out of court settlement.
https://www.docketalarm.com/cases/Texas_Northern_District_Court/3--13-cv-02491/Cross_Border_Resources_Inc_v._KeyBanc_Capital_Markets_Inc./
Armada Oil Announces Bear Creek #1 Drilling Update
I wonder what is meant by "drilling of the deeper part of the well has been challenging".
Dallas, TX, August 22, 2014: Armada Oil, Inc. (the “Company”)(OTCBB: AOIL), an oil and gas exploration and production company, today provided an update on the drilling the Bear Creek # 1 well in Carbon County, Wyoming.
The drilling of the Bear Creek #1 is ongoing. The depth required to comply with the provisions of the Anadarko Farmout agreement has turned out to be deeper than the pre-drilling geo-prognosis suggested and drilling of the deeper part of the well has been challenging. In addition, the drilling schedule was delayed a few days due to a coring tool being stuck in the hole, As a result, the schedule for completion of the drilling phase has slipped and will likely take another week to ten days. We will provide a comprehensive update when we are finished drilling and have the appropriate data.
“There are a lot of variables involved in drilling any well, especially a test well in a new area. Many of the pre-drilling assumptions have to be adjusted along the way. Information collected from drilling samples in the Niobrara and a couple of the conventional zones is very promising. We look forward to the completion of drilling so that we can assemble the analysis from the various disciplines and provide a comprehensive report to our shareholders.” said Randy M. Griffin, CEO of Armada Oil, Inc.
About Armada Oil, Inc.
Armada Oil, Inc. (OTCBB: AOIL), headquartered in Dallas, Texas, is a growth-oriented oil and gas Exploration and Production (E&P) company with a focus on growing reserves and net asset value per share, primarily through the acquisition, development and enhancement of multiple onshore oil and natural gas producing properties as well as the development of highly diversified developmental drilling opportunities, both conventional and unconventional. The Company currently has producing oil properties in Plaquemines and Lafourche Parishes in Louisiana and in Woodson County, Kansas. In addition, the Company has developmental properties in Wyoming County, NY and controls a strategic acreage position in southern Wyoming in the liquids-rich Niobrara Play.
More information about Armada Oil may be found at http://www.armadaoil.us.
From reading the information in the 8-K, it seems that they own none at this time. Allen Heim, one of the 10% plus owners of Terex Energy, may still own some leaseholds. Terex Energy was incorporated earlier this year.
I'm wondering if Rancher's management saw this as a better opportunity than the PetroShare merger and agreed with PetroShare not to contest that issue.
Business Continuation Plan
http://www.sec.gov/Archives/edgar/data/1287900/000114420414051921/v387489_8k.htm
Our intended business operations are in the development, production, and low risk exploration of oil and gas including unconventional natural gas, in the Rocky Mountain region of the continental United States; specifically, in the Rocky Mountain area of Utah, Colorado, Montana and Wyoming, and some Mid Continent areas.
The Company intends to strive to be a low cost and effective producer of hydrocarbons and intends to develop the business model and corporate strategy as discussed herein. Its focus will be in the Rocky Mountain Basin and Mid Continent.
The Company’s approach to lease acquisition, development and production is founded on the discipline of only acquiring leases in areas of proven production. In most cases the leases that are under consideration have at one time contained producing oil or gas wells and currently have production or shut-in wells that are viable for work over and or re-completion. In some cases the prospects are stepout well development. In addition, the Company attempts to seek leases and producing properties that generate oil and gas at a depth of 8,500 feet or less, where rework and drilling costs are typically less. There are many prospects in our area of interest that meet these criteria. In many instances, the wells were shut-in during a period of declining oil and gas prices and in most cases are ideal for our business model. Our business model is simple; strict adherence to lease acquisition surrounded by proven production, offering well workovers, re-completion, and enhanced oil recovery opportunities in the known producing formations, with long term production potential at a low cost of development, maintenance, and operation. The Company is not an exploration company, per se; rather it seeks leases with discovered oil and gas with current or prior production or step out/development locations.
Corporate Strategy
Our corporate strategy in developing our operations and evaluating potential acquisitions is as follows.
Pursue concurrent development of our core area of the Rocky Mountains.
In the coming year we plan to spend up to $10,000,000 on acquisition, drilling, re-completion, and development programs, some of which will be started in 2014 and will continue in 2015. We plan to raise these funds in Private Placements of Common Stock, Preferred Stock and/or convertible debt or through industry participation in working interests. Many of our targeted prospects are in reservoirs that have demonstrated predictable geologic attributes and consistent reservoir characteristics, which typically lead to more repeatable drilling and re-completion results than those achieved through wildcats.
Achieve consistent reserve growth through repeatable development
We intend to achieve consistent reserve growth over the next five years through a combination of acquisitions, rework and drilling. In 2014, we intend to continue to focus on our acquisition, re-completion, initial drilling and development programs. We anticipate that the majority of future reserve and production growth will come through the acquisition of production, the execution of our drilling and re-completion program, and on development activities on prospects of which we are aware, which include proved and unproved locations. Our targets generally will consist of locations in fields that demonstrate low variance in well performance, which leads to predictable and repeatable field development.
Our reserve estimates, if any, may change continuously and we intend to evaluate such reserve estimates internally on a frequent basis — quarterly if warranted — with independent engineering evaluation on an annual basis. Deviations in the market prices of both crude oil and natural gas and the effects of acquisitions, dispositions, development and any successful exploration activities may have a significant effect on the quantities and future values of our reserves, if any.
Maintain high percentage ownership and operational control over our asset base
We intend to retain a high degree of operational control over our asset base, through a high average Working Interest or acting as the operator in our areas of significant activity. This is designed to provide us with controlling interests in a multi-year inventory of drilling locations, positioning us for reserve and production growth through our drilling operations. We plan to control the timing, level and allocation of our drilling capital expenditures and the technology and methods utilized in the planning, drilling and completion process on related targets. We believe this flexibility to opportunistically pursue low risk exploration and development projects relating to selected prospects may provide us with a meaningful competitive advantage.
Acquire and maintain acreage positions in high potential resource plays
We believe that our intended acquisition and development in known production prospects in the Rockies will take most of our resources.. We intend to continually evaluate our opportunities and pursue potential opportunities that take advantage of our strengths. We are examining potential prospects in such areas as Utah, Colorado, Wyoming and Montana, which have gained substantial interest within the exploration and production sector due to their relatively under-explored nature and the potential for meaningful hydrocarbon recoveries. There are other mid-size and large independent exploration and production companies conducting drilling activities in these plays.
Pursue a disciplined acquisition strategy in our core areas of operation
We intend to also focus on growing through targeted acquisitions. Although drilling prospects may provide us with the opportunity to grow reserves and production without acquisitions, we continue to evaluate acquisition opportunities, primarily in our core areas of operation.
Experienced management and operational team with advanced exploration and development technology
Our management team has over 30 years of experience in the oil and gas industry, and has experience in creating value both organically and through strategic acquisitions. Our management intends to utilize the best available and fit-for-purpose technology, sophisticated geologic and 3-D seismic models to enhance predictability and reproducibility over significantly larger areas than historically possible. We also intend to utilize state-of-the art drilling and completion technology, as well as multi-zone, multi-stage artificial stimulation (“frac”) technology in completing wells to substantially increase near-term production, resulting in faster payback periods and higher rates of return and present values. Our team has successfully applied these techniques, normally associated with completions in the most advanced Rocky Mountain crude oil and natural gas fields, to improve initial and ultimate production and returns, in other companies.
It seems my patience in investing in XBOR and RDMP is finally showing results. Did anyone listen into the RDMP conference call on the preferred stock offering? If so, will you share your opinion on the offering?
Assuming that your question is not rhetorical, a company such as Cushman & Wakefield, the world's largest privately-held commercial real estate services firm.
http://www.marketwired.com/press-release/cushman-wakefield-commerce-closes-sale-historic-main-street-building-park-city-utah-1933565.htm
As a leader in the evolving category of social communication, we have a client base that spans Fortune 500 companies, advertising and PR agencies, government, educational institutions and non-profit organizations around the world.
http://www.marketwired.com/About-Us
Very Encouraging News
http://money.cnn.com/news/newsfeeds/articles/marketwire/1133863.htm
Micro Imaging Technology and Northern Michigan University to Investigate MIT 1000 Enhancement to Give More Rapid Pathogen Test Results
July 29, 2014: 08:00 AM ET
Micro Imaging Technology, Inc. (OTCQB: MMTC) announced that it has funded the collaboration with Northern Michigan University (NMU) to investigate an alternative pathogen sample preparation method that could provide a specimen test turnaround time of 4 to 5 hours.
Dr. Amit Morey, an expert food microbiologist and a consultant to Micro Imaging Technology (MIT), proposed the new sample preparation method. He said, "This method will revolutionize the MIT 1000 System and significantly broaden its appeal in the clinical health, and food safety markets, as well as other pathogen testing arenas."
Dr. David Haavig, Chief Scientist of MIT, said, "Even though the MIT 1000 System is the fastest and least expensive bacterial pathogen test today, it still requires bacteria taken from culture plates. This new method will significantly simplify the bacterial isolation step and completely eliminate the culture plate growth time of 16-24 hours. If successful, this new method will reduce the entire specimen identification turnaround time to 4 to 5 hours."
Dr. Josh S. Sharp, Ph.D., assistant professor at the Northern Michigan University Department of Biology in Marquette, Michigan, has been spearheading the collaboration between MIT and NMU since October of 2013. He is researching clinical applications of the MIT 1000 System, particularly the pathogens Staphylococcus aureus (S. aureus) and Methicillin Resistant S. aureus (MRSA). "It has been shown that rapid identification of bacterial pathogens has the potential to improve successful patient outcomes," said Dr. Sharp. "However many of the current agar plate based identification methods require 16-24 hours of growth before identifications can be made," he continued. "To decrease the time for organism identification, the Sharp lab at NMU will be working in collaboration with MIT to develop a method to capture S. aureus bacteria directly from a specimen. Using the MIT 1000, this would decrease the total time for S. aureus identification to 4 to 5 hours. Our goal is to reduce the time from specimen to pathogen identification resulting in the ability to quickly implement proper antimicrobial therapy to patients."
"Preliminary results by the Sharp lab are very encouraging and very exciting," said Jeff Nunez, President of MIT. "If Dr. Sharp's efforts are successful, and we are highly confident they will be, this will be a major game changer since this new method can easily be extended to other significant clinical and food safety pathogens. Additionally, this method can be fully accomplished well within an eight hour lab technicians work shift. When this is combined with today's lowest bacteria pathogen per test cost, the MIT 1000 System should be the obvious choice for clinical and food safety diagnostic laboratories."
MIT 1000 has been certified by the AOAC for identification of Listeria spp. The Company recently announced that it had also added Staphylococcus (Staph) and Salmonella enterica serotype Choleraesuis (S. Choleraesuis) to its catalog of identifiers. It is continuing development of, a series of Salmonella Identifiers including Salmonella spp, S. Heidelberg, S. Enteritidis and S. Typhimurium.
About: Northern Michigan University Northern Michigan University, located in Marquette, Michigan, is a dynamic four-year, public, coeducational university that has grown its reputation based on its award-winning leadership programs, cutting-edge technology initiatives and nationally recognized academic programs. The university's fastest growing academic areas are clinical science, biology, and the geographical and environmental sciences. Northern Michigan has a population of about 9,000 undergraduate and graduate students. It offers 180 degree programs, including 18 graduate programs.
About: Micro Imaging Technology, Inc. Micro Imaging Technology, Inc. is a California-based public company that is also registered to do business under the name Micro Identification Technologies. MIT has developed and patented the MIT 1000, a stand-alone, rapid, optically-based, software driven system that can identify pathogenic bacteria and complete an identification test, after culturing, in three minutes (average) at the lowest cost per test when compared to any other conventional method. It does not rely on chemical or biological agents, conventional processing, fluorescent tags, gas chromatography or DNA analysis. The process requires only clean filtered water and a sample of the unknown bacteria. Revenues for all rapid testing methods exceed $5 billion annually -- with food safety accounting for more than $3.5 billion, which is expected to surpass $4.7 billion by 2015 according to BCC Research. In addition, the recently passed "New" U.S. Food Safety Bill is expected to further accelerate the current annual growth rate of 6.6 percent.
In June 2009, the AOAC Research Institute (AOAC RI) awarded the Company Performance Tested Methods SM (PTM) certification for the rapid identification of Listeria. The AOAC RI provides an independent third party evaluation and expert reviews of methods and will award PTM certification to methods that demonstrate performance levels equivalent or better than other certified bacteria identifying methods. The MIT System underwent hundreds of individual tests, including ruggedness and accuracy, to earn AOAC RI's certification for the identification of Listeria.
You can find more information about our company and about Micro Identification Technologies™. Please visit our newly enhanced website at www.micro-identification.com.
This release contains statements that are forward-looking in nature. Statements that are predictive in nature, that depend upon or refer to future events or conditions or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions are forward-looking statements. These statements are made based upon information available to the Company as of the date of this release, and we assume no obligation to update any such forward-looking statements. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Factors that could cause or contribute to such differences include, but are not limited to dependence on suppliers; short product life cycles and reductions in unit selling prices; delays in development or shipment of new products; lack of market acceptance of our new products or services; inability to continue to develop competitive new products and services on a timely basis; introduction of new products or services by major competitors; our ability to attract and retain qualified employees; inability to expand our operations to support increased growth; and declining economic conditions, including a recession. These and other factors and risks associated with our business are discussed from time to time within our filings with the Securities and Exchange Commission, reference MMTC: www.sec.gov.
Salmonella Choleraesuis now in MMTC's Catalog of Identifiers
July 09, 2014 08:00 ET
Micro Imaging Technology Adds Salmonella Choleraesuis to Its Catalog of Identifiers
SAN CLEMENTE, CA--(Marketwired - Jul 9, 2014) - Micro Imaging Technology, Inc. (OTCQB: MMTC) announced that its MIT 1000 System can now identify Salmonella enterica serotype Choleraesuis. S. Choleraesuis is a non-typhoid strain that is a serious cause of foodborne infection. It also shows a higher predilection for causing bacteremia (bacteria in the blood) in humans by entering blood vessels through the stomach wall.
"This is significant step forward for MIT 1000 technology," said Dr. David Haavig, Micro Imaging Technology's Chief Scientist. "The completion of this Identifier demonstrates the sensitivity of this non-biological bacterial identification technology. This new Identifier gives our MIT 1000 the ability to identify a serotype of the species Salmonella enterica. A serotype is a distinct variation within a species that has cell surface antigens that differ from other serotypes of the same species; that is a very small difference. Our other Identifiers give the MIT 1000 the ability to identify Listeria genus and Staphylococcus genus where each genus consists of multiple species, some of which can be pathogenic."
Identifiers give the MIT 1000 System the ability to identify bacteria. All Identifiers, including this new S. Choleraesuis Identifier as well as all future Identifiers, use the same simple chemical-free, very low-cost, one-minute sample preparation procedure and two-minute average hands-off test with no modification or addition to the MIT 1000 System.
The S. Choleraesuis Identifier is available now and will soon undergo AOAC Certification. The MIT 1000 is a rapid, bacterial cell-based detection and identification system that can identify pathogenic bacteria, now including Salmonella Choleraesuis, in three minutes (average). At a cost of $4.00 per test, the MIT 1000 is less than half the industries average cost of a pathogen test.
Meanwhile, MIT is working on a series of Salmonella Identifiers including the common food pathogens S. Heidelberg, S. Enteritidis and S. Typhimurium.
About: Salmonella.
According to the Centers for Disease Control and Prevention (CDC), every year, Salmonella is estimated to cause about 1.2 million illnesses in the United States, with about 23,000 hospitalizations and 450 deaths. Most persons infected with Salmonella develop diarrhea, fever, and abdominal cramps 12 to 72 hours after infection.
About: Micro Imaging Technology, Inc.
Micro Imaging Technology, Inc. is a California-based public company that is also registered to do business under the name Micro Identification Technologies. MIT has developed and patented the MIT 1000, a stand-alone, rapid, optically-based, software driven system that can identify pathogenic bacteria and complete an identification test, after culturing, in three minutes (average) at the lowest cost per test when compared to any other conventional method. It does not rely on chemical or biological agents, conventional processing, fluorescent tags, gas chromatography or DNA analysis. The process requires only clean filtered water and a sample of the unknown bacteria. Revenues for all rapid testing methods exceed $5 billion annually -- with food safety accounting for more than $3.5 billion, which is expected to surpass $4.7 billion by 2015 according to BCC Research. In addition, the recently passed "New" U.S. Food Safety Bill is expected to further accelerate the current annual growth rate of 6.6 percent.
In June 2009, the AOAC Research Institute (AOAC RI) awarded the Company Performance Tested Methods SM (PTM) certification for the rapid identification of Listeria. The AOAC RI provides an independent third party evaluation and expert reviews of methods and will award PTM certification to methods that demonstrate performance levels equivalent or better than other certified bacteria identifying methods. The MIT System underwent hundreds of individual tests, including ruggedness and accuracy, to earn AOAC RI's certification for the identification of Listeria.
You can find more information about our company and about Micro Identification Technologies™. Please visit our newly enhanced website at www.micro-identification.com.
This release contains statements that are forward-looking in nature. Statements that are predictive in nature, that depend upon or refer to future events or conditions or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions are forward-looking statements. These statements are made based upon information available to the Company as of the date of this release, and we assume no obligation to update any such forward-looking statements. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Factors that could cause or contribute to such differences include, but are not limited to dependence on suppliers; short product life cycles and reductions in unit selling prices; delays in development or shipment of new products; lack of market acceptance of our new products or services; inability to continue to develop competitive new products and services on a timely basis; introduction of new products or services by major competitors; our ability to attract and retain qualified employees; inability to expand our operations to support increased growth; and declining economic conditions, including a recession. These and other factors and risks associated with our business are discussed from time to time within our filings with the Securities and Exchange Commission, reference MMTC: www.sec.gov.
CONTACT INFORMATION
CONTACT:
Jeffrey Nunez
President and CEO
Email: Email Contact
Web Site: www.micro-imaging.com
Telephone: (949) 388-4546
http://www.marketwired.com/press-release/micro-imaging-technology-adds-salmonella-choleraesuis-to-its-catalog-of-identifiers-otcqb-mmtc-1928014.htm
Outsiders are also buying. I just purchased 15,000 shares at 3 cents a share. As I indicated in April, time will determine if I am a fool or genius. Surely, this company is worth more than a quarter of million dollars.
My understanding is that the SEC will approve the company's definitive proxy statement (DEF-14A) when it meets requirements from Section 14(a) of the Securities Exchange Act of 1934.
Form DEF 14A, which is also known as "definitive proxy statement", is required under Section 14(a) of the Securities Exchange Act of 1934. This form is filed with the SEC when a definitive proxy statement is given to shareholders and helps the SEC ensure that shareholders' rights are upheld.
http://www.sec.gov/answers/proxyhtf.htm
The company is working with one group within the SEC to issue the definitive proxy statement while another SEC group suspends trading of the company stock for two weeks. Go figure!
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001066551&owner=exclude&count=40&hidefilings=0
My understanding is that the meeting will not be held until a final proxy statement is approved by the SEC.
Frank Yates Joins RDMP's Board of Directors
This is a positive sign.
Posted on June 11, 2014
DALLAS, TX – Red Mountain Resources, Inc. (“RMR” or “Red Mountain”) (OTC QB: RDMP), a growth oriented energy company engaged in the acquisition, development, and exploration of oil and natural gas properties, appointed Frank Yates, Jr. to its Board of Directors, effective immediately.
Mr. Yates, age 58, has been Manager of Yates Industries, LLC, a single member investment company, since 1999 and has served as Chairman of the Board of Taos Resources, a Houston-based oil and gas exploration and production company, since June 2013. From 1992 to 2007 he served as Vice President and in 2007 and 2008 as President of Yates Petroleum Corporation, an independent oil and gas exploration and production company producing over 50,000 barrels of oil equivalent per day. From 1986 to September 2009 he served as President of MYCO Industries, Inc., associated with Yates Petroleum Corp in the oil and gas industry.
Alan Barksdale, President and CEO of RMR, stated, “We are honored and delighted to have Frank join the RMR Board. He brings a unique skill set of business acumen, operations knowledge, technical expertise and an extensive network. We are excited to have Frank in this leadership position and look forward to working with him as we pursue our growth strategy.”
- See more at: http://redmountainresources.com/archives/909#sthash.8gmPEmpK.dpuf
If cash was paid, the amount may be identifiable via the cash flow statement that the company will eventually file with the SEC.
Here is more detail from the company's filing with the SEC.
http://www.sec.gov/Archives/edgar/data/1172298/000149315214001824/0001493152-14-001824-index.htm
Here is what was in an Oil & Gas Investor April 2011 article on the Mississipian Lime play and Spyglass Energy Group, LLC.
Eastern stage: Spyglass
Charles Wickstrom has been working the Mississippian vertically since 1978, since he was hired by the late Charles W. Oliphant, the legendary founder of Ceja Corp. in Tulsa, when just out of grad school. “The first Mississippian well I ever caused to be drilled was the Kuhn B No. 1 in Osage County in 1979. It is still producing to this day,” says Wickstrom, managing member of Tulsa-based Spyglass Energy Group LLC.
Oliphant may have attempted the first horizontal in the limestone in 1992 in Northeast Lyle Field in Grant County, he adds, where the rock produces from a fractured zone in the lower 200 feet. “Unfortunately, the technology at that time was not up to the task and the well was unsuccessful,” Wickstrom says. “Charles Oliphant was usually 25 years ahead of everyone else and taught me the value of being first.”
In January 2003, Wickstrom did that, drilling the first successful horizontal into the formation. And, in the past year, he applied the lesson of being first again: The privately held company owns an interest in or controls 478,000 gross acres and 379,000 net mineral acres over the Mississippian in the oilier window of the formation, east of the Nemaha Ridge that runs from Nebraska to Oklahoma City.
?Charles Wickstrom, managing member of Tulsa-based Spyglass Energy Group LLC, has accumulated what may be the second-largest leasehold prospective for horizontal Mississippian oil production in northern Oklahoma and southern Kansas. Proving the half-million acres at 640-acre spacing will cost some $1.5 billion.
It’s possibly the second-largest position in the play—second to SandRidge and depending on how much more acreage Chesapeake has accumulated since it last reported its holding in October. Spyglass’ leasehold is in central and northeastern Oklahoma and southeastern Kansas.
“When we saw what was happening in our own wells, we immediately started acquiring acreage and, being on the east side of the Nemaha Ridge, away from what was getting attention in the western region,” Wickstrom says. “We were able to secure that position before all hell broke loose on the leasing front and really drove up the price.”
His active leasing efforts have wound down. “We have enough to say grace over today,” he says.
paulsw42,
It seems that your broker may have averaged out the closing bid and ask, which is .102, which is close to your .103.
Who is your broker? For the two brokeraged accounts where I hold my MMTC,the value is .053. The brokers are E*Trade and Just2Trade.
cleverrox,
The other well produced from the Elk Mountain field. WOGCC has only 331 barrels produced YTD 2014 for this field. Wells in the WOGCC 2014 YTD field report were identified as idle.
For those investors who want to poke around the WOGCC website, here is the link.
http://wogcc.state.wy.us/
I need to clarify my last posting. I talked to Armada Oil and it was pointed out that the WOGCC data I provided a link to only included production from May 1978. This means that 724,000 barrels were produced from 1957 until May 1978.
Here is the content in the press release.
The Anschutz Ranch #1 well, located about 3/4ths of a mile southwest of the Bear Creek #1 location, has produced approximately 970,000 barrels of oil on a subsurface structure that shows similar traits to the Bear Creek #1 target.
http://armadaoil.us/2014/05/armada-oil-discusses-its-new-strategic-direction/
The Anschutz Ranch #1 well is a long-term well, drilled in 1957. WOGCC identifies only 246,000 barrels of production.
http://wogcc.state.wy.us/wyodall.cfm?nAPINO=705452&nApi=705452&Oops=1[/tag]
This is a promising Press Release - High Plains Gas Announces Completion of Gas Marketing Agreement
May 29, 2014 12:39 PM Eastern Daylight Time
GILLETTE, Wyo.--(BUSINESS WIRE)--High Plains Gas, Inc. (“High Plains”) (symbol HPGS) announced that the company has signed a contract to sell natural gas from their coalbed methane wells to United Energy Trading of Lakewood, Colorado. Terms of the agreement have not been released, but the company expects to begin producing gas immediately.
“We will start producing wells on a small scale, but our intention is to produce all 3,000 wells within 18 months.”
High Plains filed an 8-K on March 3, 2014 disclosing the acquisition of approximately 1400 coalbed methane wells from Luca Technologies, Inc. Per the agreement, High Plains Inc. acquired all member interest in Patriot Energy Resources LLC and Patriot Energy Gathering LLC. The acquisition has cleared Bankruptcy court and High Plains has now taken possession of the wells. Including the Patriot wells, High Plains Gas, Inc., now owns approximately 3,000 coalbed methane wells and expects to begin production in immediately. High Plains’ CEO Ed Presley adds, “We will start producing wells on a small scale, but our intention is to produce all 3,000 wells within 18 months.”
On March 28th, 2014, High Plains filed its 10Q for the third quarter of 2012 in late March. The company is currently working on its Form 10-K for 2012 and expects to file the report as soon as possible. In addition, the company reports that it has the goal of being current with all of its filings this summer.
Contacts
For High Plains Gas, Inc.
Bob Mitchell, 720-226-1031
DumpsterDiver,
The MMTC press release did not state that the joint effort with the university was a Phase 1 clinical trial. Here is the lead statement for the press release - Micro Imaging Technology Enters Phase 1 of Its Collaboration With Northern Michigan University.
Information regarding clinical trials testing as established by the Federal Drug Administration can be found at the following URL.
http://www.fda.gov/drugs/resourcesforyou/consumers/ucm143534.htm
The collaboration does not involve drug testing. Upon obtain staphylococcus identifiers, it is my understanding that the company will work with the AOAC Research Institute to validate the identification process.
I have been buying more shares last week and this week.
The company stated the drilling depth to be approximately 8500 feet.
Under the Anadarko Contract, the Company is obligated to commence drilling of the initial test well on or before July 31, 2014. If the Company fails to commence drilling said well in a timely manner, the Company shall be deemed to have relinquished its right to acquire any interest in Anadarko’s acreage under the Anadarko Contract. If the Company drills an initial test well capable of production in paying quantities to the initial contract depth (approximately 8,500 feet), completes it as a producer and otherwise complies with and performs all other terms, covenants, and conditions of the Anadarko Contract, the Company will earn and be entitled to receive from Anadarko a lease, effective 30 days from the date of the release of the rig from the test well location, covering all of Anadarko’s oil and gas estate in the respective drill site section limited to the earned depth. The lease to be so earned by Armada will (i) be for a primary term of three (3) years; and (ii) provide for a lessor’s royalty of twenty percent (20%), proportionately reduced as appropriate and subject to any gas sales, purchase, transportation or gathering contracts affecting the leased lands on the date of the Anadarko Contract. The Company will then have the right to continue to drill additional wells on the contracted acreage, subject to a drilling schedule, and earn additional drill site sections as described above. A location for the Initial Test Well has been selected and additional locations for future wells are being evaluated. The Company intends to take an aggressive approach to exploiting the Anadarko acreage position. The implementation of an aggressive drilling schedule using leading-edge shale drilling and completion technology should enable the Company to rapidly identify and develop significant oil and gas reserves in the Niobrara Shale.
http://www.sec.gov/Archives/edgar/data/1081074/000118518514001300/armadaoil10q033114.htm (page 24)
If we are fortunate, our company may be the one that is mentioned by Keith Kohl in his latest investment report next week. Here is what he said today.
It's also why I'm releasing my latest investment report next week, highlighting five must-own oil stocks that have been grossly overlooked this year. It includes the name of one tiny driller with extensive acreage in sweet spots of the Mississippian Lime play.
And thanks to the lack of coverage by the talking heads in today's media, few people have caught wind of it...
http://www.energyandcapital.com/articles/oil-mississippian-lime-investing/4417
The website is working.
http://www.micro-identification.com/
You are mixing two companies. UNRG is a NJ-based company incorporated in NV. The company that you are presenting in this post is another company with the same name. It does not trade in the public marketplace and is incorporated in ND and based in ND.
http://www.unitedenergycorp.net/ (UNRG)
http://uecorporation.com/ (private company)
Assuming the lowest cost to Dutchess was $0.003, as identified in the 2012 10-K, their share price would be $1.50 post-split.
Equity Financing Arrangements
On May 4, 2010, the Company entered into an Investment Agreement (“Investment Agreement”) with Dutchess Opportunity Fund, II, LP (the “Investor”). Pursuant to the Investment Agreement, the Investor committed to purchase up to $5,000,000 of the Company’s common stock over thirty-nine months (the “Equity Line”). The aggregate number of shares issuable by the Company and purchasable by Dutchess under the Investment Agreement (as amended on April 12, 2012) is 500,000,000. The Company also entered into a Registration Rights Agreement with Dutchess on May 4, 2010 whereby the Company was obligated to file one or more registration statements with the SEC to register the resale by Dutchess of shares of common stock issued or issuable under the Investment Agreement. The Company filed three (3) registration statements on Form S-1 between May 7, 2010 and April 19, 2012 to register the resale by Dutchess of 191 million shares of common stock.
On May 31, 2012, the Company terminated the Investment Agreement with Dutchess and withdrew the third Form S-1 registration statement covering 140 million of the shares.
Through September 2010 and October 2011, the Company issued seventeen (17) puts under the investment agreement with Dutchess and sold 20,136,570 shares of common stock to Dutchess at prices ranging from $0.004 to $0.0225 per share for net proceeds of $114,497. During fiscal 2012, the Company issued seven (7) puts with Dutchess and sold an additional 30,830,204 shares of common stock at prices ranging from $0.003 to $0.0056 per share for net proceeds of $99,739.
http://www.sec.gov/Archives/edgar/data/808015/000149315213000120/form10k.htm
My belief is the downward price pressure is from the last two transactions with Asher Enterprise.
Buying at these prices. Time will determine if I am a schmuck or genius.
I also wondered why he resigned. He had a $200k a year salary.
On another topic, nice to see two days of reasonable trade volume and upward movement in share value.
Woodson County is in the southeast quadrant of Kansas.
Looking at the trade volume since Thursday indicates to me that RDMP may be moving to do a short form merger by obtaining 90% plus ownership in XBOR.
http://us.practicallaw.com/0-382-3820
Other opinions?