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That sounds correct and it also would not surprise me if Keith has not received one or more buyout offers but cannot release that information.
Also consider coydog's post last week about a big whale selling on volume to dampen the price. One possible explanation, pure speculation of course, is one of hemi's potential suitors buying as cheap as possible on the market which minimizes eventual buyout cost to them.
Also if other large companies recognize how undervalued hemi is they could just be accumulating to take advantage of a future buyout, whether they make the offer or not.
I believe shareholders are giddy about the number of people bashing hemi, even as it sits at an unreasonably low shareprice. People dont bash bad stocks, what would be the point.
People bash stocks either to buy in lower because the see the value or because they are short. Only naked shorting possible here I think.
Any more information on geosystems? I am hunkered down in my fallout shelter waiting for the big bombshell.
Keith needs no one to defend him. Keith laid out what the plan would be for hemi. This is much more than other ceos do.
His plan was not for a long term entity, as you know.
Therefore, it is not reasonable to expect Hemi would operate the way an ongoing, indefinitely chartered company would.
To have expectations beyond what has been laid out by the company, and to try to hold Keith accountable for what he has not laid out seems incorrect.
As long he is operating within the long term plan and adjusting to those unforeseen circumstances that arise, investors should be satisfied.
Hemi is not a blue chip, it is not listed, it is not meant to exist indefinitely. To try to apply these standards or to bash hemi for not living up to them seems meaningless to me. Just mho
Badge,
I wrote "Keith and Craig are busy growing hemi, proving up reserves, filing more NOIs and looking at other leasing opportunities. Do you agree?"
You said "No I do not agree...."
Based on your extensive knowledge and experience, what have Keith and Craig been doing if not what I mentioned above?
sure, Keith and Craig are busy growing hemi, proving up reserves, filing more NOIs and looking at other leasing opportunities. Do you agree?
If I was sitting on a gazillion free shares I would sell a small pittance and go out to Fort Worth myself and have ALL of my questions answered. But that is just what I would do.
Oh, where to start.
"Is the SEC to relax reasonable certainty standards for Hemi which is relying on surveys performed a century back? Certainly no modern technology involved with this company."
I am no English professor as this person claims but I know there should be a comma after Hemi and a the verb "is" after technology.
"Any activities less than this, is only guessing."
This should be "any activity is only guessing" or "any activities are only guessing" Singular/plural agreement within a sentence does not require a phd in English.
And if this person, who claims to be an English professor, cannot put together a correctly worded short paper, what makes them qualified to talk about the petroleum industry, especially reserve valuation?
There was no mention that the hemi proven reserves are not proven. The records that exist come from an industry that has been using a system of standards for many decades.
There also was no record of recent records beyond 1950 which was an attempt to be misleading.
There was no mention of Geosystems' reserve report or its veracity or lack thereof.
My take on this excellent DD by lazyeye is that this was the best spokesperson the Choctaw nation could roll out to try to slow down the oil and gas expansion near their lands. IMHO
All right, who are you and what are you doing posting under Badge 714's user id???
Thanks pf for quickly dispatching the bashing attempt. If KA was smart enough to get the lease earlier, and therefore, cheaper, it only takes a few of my brain cells to realize he is not just going to ignore it and let it expire.
Also, if KAA is buying the lease, he is buying it for the rights to its resources, not as part of a protected wildlife area or any other restricted situation.
The more bashing the better, imho, both overt and implicit. There is no reason or need to bash poor stocks, only stocks with promise to them.
For anyone with geological knowledge, a large pdf from ND Geological Survey on the Bakken.
http://www.mines.edu/Research/PTTC/casestudies/Bakken/BakkenStrat.pdf
Nice DD Jagman, if we were in Tioga. This is more appropriate for new hemi investors since it is where our leases are. Older article but definitely shows the RECENT growth of drilling activity.
Also here is a link for continuing bakken activity.
http://bakkenshale.blogspot.com/
http://www.bismarcktribune.com/articles/2006/12/07/news/state/125112.txt
Over 40 rigs drilling in N.D. oil patch
LOADING
Dec 07, 2006 - 04:07:29 CST
WILLISTON (AP) - More than 40 rigs are drilling for oil in North Dakota, the state Department of Mineral Resources reports.
The latest count shows 42 rigs - includes 11 in Williams County, seven in Bowman County and six each in Dunn and McKenzie counties. Burke, Divide, Mountrail County and Renville counties each have at least one rig.
"I expect it to stay steady. It will not slow down unless the price of oil goes way down," said Mark Bohrer, petroleum engineer for the agency.
The area saw an oil boom in the 1980s. Bohrer said horizontal drilling and higher prices are leading the latest surge.
"In October of 1981, we had 146 rigs being drilled. We had 2,870 producing wells that were (bringing in) 125,000 barrels per day," he said. "We now have roughly 3,600 wells producing 113,000 barrels a day."
Bohrer said permit applications for drilling have tripled from just four years ago.
People come to the county courthouse to search for land records.
"Land men (and land women) determine ownership about who owns which minerals and where they are," said Kari Evenson, the Williams County recorder-treasurer. "From there, the oil companies decide if they want to offer a lease to the mineral owner."
"Probably now, we see four to ten land men in a day," she said. "We've had up to 20 to 25."
Her office has had to make room for the influx of people from just a few years ago.
"We've added space in the basement vault - they are in the treasurer's vault and we have space in the commons area between the auditor's office and our office," Evenson said.
Yes, Jagman in North Dakota. But it is not the job of the hemi board or myself to provide you a history of the o and g industry of ND. I am sure it is not as exciting as Texas but it seems our very astute CEO knew something you and I did not. I will benefit from that, will you?????????
"Hemi tricked the big boys again???"
No Jagman, hemi has much archival drilling and logging records used to buy leases in areas. They are not buying blindly, like some of the companies you have invested in, I am sure.
If you want to go back and read about the OK info, and compare it to a map of the state, you will discover that they have geological records covering a little more than half the state. Even if they never work that information, it has value during a buyout, especially for a larger company, who might already have leases there.
Just think Jagman, if you had the foresight Keith had to buy up all that logging and drilling info in the 80's and 90's that was deemed almost worthless, as Keith did, you would not have to spend your time posting on message boards. LOL
Thanks for links and/or posts texas, nh and especially pink floyd. What we are seeing in Ks is exactly the way it should be done, minimizing cost by fulfilling two necessities simultaneously. A few days or even longer is not a big thing in the larger scheme of things.
Long term plan being carried out by Keith with, or even depite the board here, and that is the way it should be.
No matter what complaints one can make, and there are a few, hemi has always been operating within the overall general strategy that Keith laid out several years ago. That seems to be the only real credibility test that should mean anything to those who have invested in hemi.
Coydog,
Sounds like a great big picture analysis of the recent trading pattern we have been seeing.
Hemi only gets closer to ultimate goal daily, a buyout, but until then it still should be trading higher.
The big whale analogy seems spot on. Everything is as good as can be expected and still we cannot get any love from the street. LOL GLTY
Excellent point zguy. And if anyone wants an EXACT number of outstanding shares of hemi, using bisection method in numerical analysis would provide it in about 12 yes/no questions . LOL
"Is it between 64 million and 64.5 million? LOL
It is otc other, which makes it pinks IMO
LOL
I would think the best bets in this market would be gold, silver, platinum or OIL!!!!!!
Thanks to pf, zguy and other longs who help to keep it real and who deal in facts and not innuendo. Along with that and good DD, it is easier to be patient until hemi finds its true value in the future, hopefully this year is the beginning.
Sigmund Freud said, "Sometimes a cigar is just a cigar."
The "KAA is selling shares" issue should be dismissed once and for all.
Not only has it been stated several times by Hemi that shares have not been sold by them, it is not in the best interest of the company to do so at these low prices. Several posters have pointed out that it is probably the LEAST effective way to raise money.
I believe that shares were used for repairs, perhaps salaries and certainly more leases.
It probably was not an easy decision for Keith to put more shares out, knowing he had to dilute the value of his own holdings. But if the value of those repairs and assets becomes a larger factor than the extra shares, it is all for the better.
Those that did sell shares needed the money or did not recognize the value of hemi going forward. They were given shares based on the market price unfortunately and saw them as a way to get cash. We do not know if all recent were restricted or not, at least I do not. The recent selling may have consisted of shares coming off restriction but the volume seemed bigger than that.
Personally I look more at the AS for any pink anyway, which is why the OS issue has had little meaning to me. I go in assuming that all, at some point will be issued, hopefully to grow the company.
The shares ended up in stronger hands at least.
Part of Keith's relative silence during that period was probably to not encourage any of the then current holders to sell on the weakness of the company at the same time, thus undermining the value of shares he was using to buy leases in Texas I would think.
Whether one likes to be kept in the dark so to speak and perhaps treated as a child, it may end up being the best thing in the long run for all of us. Keith has said, correctly so, that shareholders are often like children asking "are we there yet?", as well as not recognizing themselves as having no real authority in company operations. Even in communications, shareholders are not told everything.
"We pay his salary, and he works for us!" are nice in the theory of public corporations, but shareholders, like children, have no real authority or even knowledge to make the day to day decisions.
We are passive unless we choose to act. And the only significant action is to buy or sell. Posting, venting, complaining, pumping, bashing, in the larger scheme of things are really meaningless to the ultimate success or failure of hemi or any other company for that matter.
There is a certain amount of trust necessary, obviously, that the company will stay within the broad outlines of their stated, in our case, long range plans. I think it is fair to say that is the case with hemi. Even with the recent bumps things are still proceeding toward the ultimate goal.
So we each can decide to sell or wait passively and patiently for what we hope is going to be great days ahead. GLAL
And many who complain or "hit and run" are not interested in buying hemi, or have lost money in hemi thinking it is a "momo play". LOL. I love that reasoning from investors who immediately dismiss the value of ANY pink sheet stock.
Sure pinks are riskier than blue chips, but the reward is commensurate with the risk. The trick is to find one where the company is legit, the ceo is not out to line his pockets at the expense of shareholders, where the company does not roll out millions or billions of authorized shares on a great "story". And in the right sector.
Folks, such as yourself PF, have gone ABCD (above and beyond the call of duty) to verify hemi is the real thing.
I would think that anyone that complains will never call, and those that try to communicate in a nonprofessional way will get the appropriate reply, none.
Hemi seems ready to make a very large, sustained move.
All factors seem positive, with no legitimate, real, unmanipulated hinderances. The deeper one looks, the better it seems. Looking forward to a very good year. GLTA
Yes, I understand about risk adverse capital, but what would be risky, counting on OPEC to help us?
I think energy independence is the way to go, either by capitalizing on our own resources or finding new or more efficient technologies.
In any case, domestic reserves, and their recovery seem to be the way to go.
Are they really that risky when we see how nutty Hugo Chavez is or the continuing tension in the middleeast. It seems to me at least, to be less risk adverse is to rely on good companies in the us and canada. GLTY
hillzman I believe you are exactly on point here. Consider the many small o and g companies like hemi or alry. Everything investors see is positive yet the share price does not reflect it.
Then think about the comparitive size of these companies in relation to a chk or devon or xto. Always MMs believe pinkies are scams. I would bet it would not be difficult to find relations between the larger companies with the Knights of the business world.
This is probably the tenth post, at least, that I have read about seemingly quality small o and g companies showing a lower than expected value, as well as the small and microcap industry as a whole.
Not trying to imply conspiracy here but we all know that huge money is involved.
Can anyone think of any tactic that has not been used to discourage investors of hemi or alry or any other small companines that have verified operations and assets and revenue to not invest in them?
Trust DD, trust instincts, trust independent investors such as pink floyd, kelsey, mike t and others who have been on site.
With day after day of churning and seemingly no light at the end of the tunnel, weak investors fold. And this seems to be the plan.
Those who have done their DD, who have followed the company, who understand the cutthroat business world know that anything goes.
As sneaky said about MMs, for example, the best thing to do is hold a long term position.
This should work for hemi IMHO.
Based on pink floyd's excellent mathematical analysis about value of production based on price, may I take it a further step.
If all of us thought hmgp was undervalued at .50 and higher and did not sell, and were encouraging friends,(I was, because I thought I was doing them a favor.) and hemi has added more leases, strategically placed, and oil prices have risen by fifty percent, why shouldn't we be reasonably thinking that hemi is worth more than fifty percent today or more than it was then?
One of the latest Hillary speeches, whether we agree with her or not, was about not holding hands with the saudis but finding domestic solutions for our energy needs.
Hemi is in a great position.
Just imagine if things were reversed, oil prices went down when hemi dealt with the flood, could have been catastrophic for us investors, instead prices have risen just at the right time.
Someone please pass the Koolaid. LOL
Right all the way around on hemi and the SAWX.
one sox fan said his favorite show was CSI new york because one new yorker got murdered and bonus another went to jail.
Of course we are glad it is all fiction, except hemi.
I dont know anything about connecting dots or digesting what has been discussed. I have read every post on this board, except the ones which were deleted before I could read them.
The on site information from you and others has been valuable.
Perhaps Keith has heard from investors that the dec pr was too vague about Fort Worth so maybe he made a point to clarify that part, which is a good thing. Maybe he got tired of seeing prs of other oil companies on the message board of "his" company, I cannot say, just speculation on my part and named as.
At least everything still fits the long term plan Keith has discussed more than once by different media. Good to see.
Yes for the very first post regarding the Fort Worth leases there is actually something of real substance from hemi, not vacuuous supposition and speculation which had been clogging the board.
I thought Keith was smart enough to buy good leases, that is why I never pooh poohed the idea, it was just the daily, endless-seeming speculation of what the leases COULD MEAN.
Now, at last, we have some facts.
Go Hemi.
At least now we know the leases in Fort Worth have some value. We have facts and speculation is no longer necessary. Wish the share price would reflect it.
Kelsey, repeating all of the information still does not change what it is.
It is a possibility that is all.
Certainly the share price does not reflect it.
The street seems not to recognize it.
I am waiting for a buyout as well and hope we all do well.
But we do not even know if Hemi's leases have been bypassed already or have even been approached yet.
It seemed clear that gas was the biggest thing quite some time ago as far as garnering reserves and value for hemi.
Remember gas had no value for drillers so they just logged it.
Keith was able to cherrypick leases in Ks with large gas reserves and find easily accessible oil.
It has been a well thought out plan and still should work in the long run.
The less real information we get from Keith, the more likely we, as a message board, tend to speculate or conjecture about things we can only infer or extrapolate from known information. And because Hemi is not putting anything out right now the only information available comes from other large oil companies.
I can think of a couple of bashers that could run with that.
Still holding and waiting for the next bit of information in the pr. I hope all of us are greatly rewarded for the amount of patience it takes.
All this is well and good, pun intended, but can we get to the really relevant and important information regarding these operators, such as what type of food complemented each drilling foreman's coffee this morning, or which of these is butting up against hemi's leases?
And speaking of leases, how many, where, how much did they cost, how were they paid for, have they already been bypassed, have they been reached, are they really necessary to these operators.
As of today it is all still just speculation.
And it was nice to see the bullish buying activity but there seems to no one except a few on this board that is putting any real weight behind these leases, at least the shareprice seems to show that.
Still holding and waiting for facts or at least a pr, hopefully with facts.
And scottrade will reimburse you for the transfer fee etrade will put on you, if they (etrade)still do that.
To those who continue to pm me with substance, thank you.
The share price and the presumed value of hemi by myself and others on the board becoming more incongruous daily.
Cannot imagine any thoughtful person selling at or near a fifty two week low shares of a domestic oil company with relatively low AS, ongoing operations and real assets.
Pure speculation but I believe Wilshire is trying to get a better sense of the reserves hemi has. That is what the original deal was to be based on with reserves used as security.
It was understandable, looking at it from a financier's view, to want partial ownership of the company instead of being a creditor of company assets, especially since those suits have no desire to get the reserves out of the ground, hence the desire for shares.
I would wonder, since Bedeznek likes hemi, and KAA is too stubborn to use shares as part of a deal, why Wilshire has not been buying on the open market, especially at the fire sale prices. Something to ponder I guess.
I am holding all pm activity on Ihub hostage until hemi reaches its correct fmv. LOL
Yes, and Scout, Barbaro, Silver, Man o War, Seattle Slew, Mr. Ed and others are also very thankful too. LOL
They have a history of being aggressive buyers, but let's not get ahead of ourselves here. Let's see two per share, three..... lol
Thank you was unaware of the letter from Keith. Maybe not devon but someone else bigger than hemi. Think that is a very positive thing for stockholders. I wish we had some way to confirm it. The large position also could have been some of the supposed selling we have seen.
I definitely understand the need to keep cards close to the chest in this game of o and g poker, it sure leads to vagueness.
Still holding and waiting to see how it all plays out.
GL everybody.
Only reference to stock holdings by Devon was Chevron stock.
Does not mean its not there, just that I was unable to find anything, but I did not read every filing either just recent one. I checked the web site also. Maybe another company other than Devon was intended.
I wish I could say a thousand acres.
We just do not know.
We do not know when the acreage was purchased.
If recently we own less. If a year or so back we own more.
We can assume an eighth of an acre or 800 acres, Keith was noticeably unclear about that. Usually, I noticed he puts some actual numbers in other prs regarding leaseholdings.
I hope they were purchased previous to this boom, therefore we own more and they have appreiciated in value, IF THEY ARE REALLY NEEDED by some other company.
Too many unknowns for me.
The point about the Fort Worth lease(s) is that I do not have to use the word if.
We do not know where. (other than between two big cos_)
My house is wedged between the north and south pole.
We do not know how much money was spent.
We do not know where exactly, if they can be bypassed or are ctitical.
We do not know what Keith's intentions are, other than assuming helping hemi helps us.
It is a real stretch to think what other companies do in Fort Worth is relevant to us, until we have more information.
At this point it is all hope, and I am hoping as well as everyone else. I am here for the buyout and dont need any more shares.
I hope we have THE KEY LEASE and the two cos get in a bidding war over hemi, but that is just hope.
I know you invested your time and money to make the trip and everyone is grateful for you sharing what you learned.
Keith puts just enough information in the pr to let investor's imaginations run wild. It is not good for anybody who has been on this rollercoaster ride called hemi to add fuel to that fire.
Until there is real news from Keith with hard numbers and a better idea how this fits it just seems irrelevant except for saying what if.
Just think of all of the other loose ends in prs that Keith has put out.
Jagman will find this amusing I bet.
Hemi board now has a new feature, post of the day.
Today's feature post is just an article about XTO energy, one of the two o and g companies that people assume to be the ones hemi says they are "wedged between" in Fort Worth. That means hemi could own an eight of an acre or a quarter of an acre.
Probably the only other people interested in the article own that stock.
People see these huge numbers in xto and chesapeake and think somehow hemi has to be dealt with and not bypassed. Not here to bash hemi because I own it, just think it is a real stretch to try to relate activities of larger companys to hemi when really there is too little information to make a connection.
Hemi board could have posts of the day for Exxon, Devon, Shell and other oil companies soon if the articles about them even think about mentioning Barnett Shale.
LOL