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Paid .... Good points and for the most part I agree..
So then we actually sell the oil as Pr'd. Get the
Ownership of the lease into Dkgr and
Continue to develop the leases and we're on our way?
Agree?
Funny, really is
But bottom line,
the bad news is the share price sucks,
the good news is we have leases,
looks like we will be taking title soon,
and that gives us a foundation,
Flexibility and something to build off of,
there's a lot of options, we actually have oil
and that can grow, more than just a story and
hope that it will come, it's here,
few pinks have that.......
what we do with it and where we go from here
could be a great ride for those who held,
and for those who got in so low,
Well, I'm envious.,
MC
TL, buddy gave me a tip on this one,
thought I would check in and see what I
can find out, looks intresting..
MC
blowout, If I understand right,
very close to us there are some big drilling
people doing development in the area
would be great to know what they are doing,
and why and some of their results.
MC
Bowout,
again, you make perfect sense,
MC
Blowout,
As before, I agree with your thinking,
You seem to have a great handle on things,
for DKGR,
MC
Black...
So my question is when we sell the Oil at Myers and obtain the
Lease in Drakes Name and become classified as a Junior Oil Company,
does that make Sebastain a Jr, Oil Company too because of
the JV with Drake?
MC
Yes, Really,
So my question when they sell the Oil at Myers and obtain the
Lease in Drakes Name and become classified as a Junior Oil Company,
does that make Sebastain a Jr, Oil Company too because of
the JV with Drake?
MC
Well that's good,
Think we are just getting started with JV Opportunties,
Get those wells going like Myers and we finally get moving again,
Let's see what else is in the shopping cart,
MC
Happy,
Agree, would like to see one myself,
MC
Medcal,
I disagree, Peter has my support,
I think he saved DKGR,
think he's running a tight and right ship,
I also believe he's doing the right things and
making them grow without selling the investors out
He got us back to current,
He both posts and PR's Updates,
He Communicates with Investors,
He works late every night as far as I know,
He works weekends,
He takes a lot of grief,
get's up the next day and does it again,
and yes this has to do with Drake,
it's a opinion and as far as I know plain facts
about the guy that runs our company and a lot of it
is back up by facts based on where we were and where
we are now, oh and did I mention, he gave us our
first assets for as long as I've been here.
MC
Joint Venture, No Joint Venture,
I don't know, but if they do one involving Oil,
here's a great article you may want to look at on projections
for the U.S. in Oil Production right here at home,
http://www.reuters.com/article/2012/11/12/us-iea-oil-report-idUSBRE8AB0IQ20121112
MC
Happy, from what I can gather, Sam
is in favor of what's best for those Oil Options,
but I have never spoken to "HIM" so take it for what it's
worth... I think this is where we're headed..
http://www.reuters.com/article/2012/11/12/us-iea-oil-report-idUSBRE8AB0IQ20121112
blow, it sounds like you have nailed it,
I just have one question and when you say deeper, how deep,
from my understanding if they go way deep they would need
some other kind of permits and Sam owns those rights and would have to apply for them and negioate the rights back to DKGR,
or did I get that wrong?
Everything else you posted I believe is spot on,
MC
Wipper, If they do this right,
I believe .0045 will be a walk in the park
with people saying.......
"remember when we could have got these shares at .0045",
Just my opinion,
MC
Anybody can make up numbers
But if Peter and whoever were going
To make up numbers they would be
A lot more than 100-150 BOM
I think we can all agree on that
Not earth shattering but a start.... Finally
Mc
Pistol, don't think it's 150 yet,
think they have 2-3 more wells before that
and the estimate I believe is between 100-150
until they develope more means to extract existing wells,
or put in new ones, and that will take more
investment of course
digging......
just here and there,
too many other posters here to
go any further,
and am I getting inside info,
NO
mc
Asher, where do I come up with those numbers?
simply from the announcements,
then I just dig a little deeper,
no big deal really,
MC
Asher,
No problem,
as far as I'm concerned the 100-150 BOM is in the bank, we
will get it every month, but for me it's a great start,
we have a foundation to work from,
we have real prepetual assets, but....
I'm more focused on the ways to vastly increase that amount,
we need to make this as big as it can be,
we need to have a goal of ten times that amount
I am no where near satisified with only that amount.
MC
Asher, All the wells???
Last I heard well 8 by end of this month and rest by March sometime?
MC
Wipper,
I beleive it's all good, think about $20k a well,
but I believe I know how to verify that,
think we are making more progress than I had thought,
MC
Wipper, Correction,
I believe we have more than 80 barrels now and adding
every day,
MC
Wipper.. To me that is the good news / bad news,
The good news is we do in fact have the Oil and more
to come, the bad news based on price, no one cares...
Do we have it, I believe yes, I verified it with the operator,
MC
HappyCamper,
Great post,
have to agree,
MC
Ace, If we keep picking up the 4's then we can
move on to the 5's and so on
MC
Blow, when they recieve the Parker money,
do you know which lease is planned for next?
I assume we will also JV another?
MC
Blow, bit confused with what you said,
The existing lease should generate 100 -150 BPM by I assume end of Feb, so if we added another lease that would have to increase.... we already have the numbers covered that you are stating, so what additional would the next lease add,
I did some more checking, the 100 - 150 BPM souds like that is pretty much in place / feasible,
But no Horiziontal Drilling I'm told ... way to expensive and much cheaper to drill new wells at a fraction of the cost,
after I saw the video on Horiziontal Drilling I got really stoked on it, but I guess that's for much bigger players than we are,
still great in concept, but shucks.
MC
Neo, Good Morning back,
My numbers were just estimates,
at 1 BOD that 30 per mo, * 12 would be what 360 BOM
If we got 2-5 BPD per well the numbers would be much higher,
so just speculating at this point,
If the Dumping would stop we would have a chance to climb,
I doubt there's flipping to blame at 0003,
MC
Neo. Agree 0006 - 9 could be very feasible by EOW. But if CJ
Knows what she's talking about with other people coming in
Take off a zero or go to a Penney. Of course
From one cent to two cents pretty easy
Me. I just want to see something bigger even
Though I am pleased with this great progress
Ok we just got the 7 th well up so I'm assuming we did 80 boil
In a month, add the other 6 producing and that's 160 bpm or about
$14k a mo. So how do we increase it? More wells, horizontal drilling
Or what? We know oil is there so let's increase the volume
And work the other leases. Either direct or through JV's and
Figure out how to increase those volumes too. Cool and
We are on our way
Buff, I agree, but it's such a long way from where we were,
I figure maybe $12-$14k a mo. with the 12 wells,
but it's a great start, then they have the options on the other wells plus Parker and SBRH..
but what I keep saying over and over and hopefully somebody will listen, if we know there's oil there and shallow wells,
what happens if they do horizintal drilling which could increase production... I don't know, 10 times, 100 times, we got the land, it's got Oil so think BIG..Yes I have brought it up with Peter and he said he would discuss it with Chris, All I know,
but that could be really something they have to think that way,
but the start we got is so much more, plus who knows what deals we do with SBRH,
MC
heck this out on the leases...
There are now a total of 80 barrels in the tank battery. With the current prices of oil, once the oil is sold in both tank batteries and funds distributed accordingly, Drake will have title to the lease as per our agreement with the former lease owner.
CJ...
We're on our way,
Ticker: DKGR
Jan 1 2013
Drake Gold Resources Inc. provides a New Year's Production Update
Drake Gold Resources Inc. is pleased to announce that 7 wells have now been reworked. The eighth well is expected to be reworked by the end of January. There are now a total of 80 barrels in the tank battery. With the current prices of oil, once the oil is sold in both tank batteries and funds distributed accordingly, Drake will have title to the lease as per our agreement with the former lease owner.
Further updates will follow.
Contacts:
Drake Gold Resources Inc.
Peter Matousek, 775-410-4458
CEO
IR@DRAKEGOLD.COM
I too believthe cup is more than half full,
like maybe to the top and
2013 is gonna be great for DKGR Shareholders,
MC
Asher, Yes, once we hit .01 .02 is much easier,
don't know about .03, but looking forward to finding out,
MC
Input?
Just that it does somewhat narrow down or Zero-in who we
think the JV might be with.
MC
That answered very little,
but thanks I guess,
MC
Happy New Years everyone,
Maybe next year someone can educate me how
one gets 11 sells for every buy?
I always thought if one sold someone had to buy,
so that would be a buy for every sell?
Guess I just don't understand,
maybe next year someone will tell
me how that works?
MC
Wipper, seems to me if they
wanted to pump that PR it would have been really
easy to do, as it was it was pretty weak in a lot
of points,
but in another aspect it points out that we are producing
Oil and more wells coming on line and that the Oil volume
was not just from a single well.
So as far as I'm concerned is was a weak PR yet a very
strong one and again if the whole idea is to just pump
investors to buy junk, they would have done a much better &
fluffy PR.
I'm very ok where we are.
MC