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I would be thrilled if we could get anywhere
close to XNRG, looks like it's high was when
Peter was there, still doing great...
I would take .07 right now,or the .13 when he was there.
MC
Simple, I THINK
PA will produce Oil and thus assets and as the PR said,
the money will be put into developing more wells that we
have options on and as soon as that starts being reported
it will attract a lot of new investors,this will pop
in a great way for investors.
and I don't think Peter will set on that, I THINK
he will contiune to grow the company, I believe
things have finally changed and will continue to,
He is well connected, has done a lot of trade shows
and I assume he knows a lot of Oil People,
So far, pleased, but yes before you say it
he has to deliver some goods,
Not thrilled about share increase but if we are truly debt free and he invested as I believe he has, it will turn out to have
been a great move.
Just my opinion........
thanks for asking,
MC
Kim, that should be just .....
Short term until we move up into the
next levels where the real money will be made
I believe,
MC
Happy Don' kow,
I'm hoping this week,
but have not spoken with Peter much past
couple of months and when I do he's very tight lipped
I'm sure he knows insider rules and follows it.
MC
Asher, I'm beting you are correct,
hopefully we get something soon,
I hope as early as this week,
but hard to say,
As far as etching it in stone,
think that has been done twice before
this qtr and it's 0 for 2,
maybe 3rd time is a charm,
MC
badcap, I agree and think we
are gettig closer every day
and I would like to say that I'm glad that you
are on board and look forward to see what
DKGR releases to us next
and after the initial PA development,
where else we are going,
should be a very fun ride,
MC
Just connecting the dots and the dots look good,
anyone can buy a ticket and watch the show or stand
on the sidelines and do whatever they do,
I think Peter is doing a great job,
he seems to know the challanges and
it appears he's moving forward with what
was released in previous PR's,
It also appears he knows people and how to get them
involved, a far cry from where we were.
Go DKGR,
MC
Merger? Don't know,, What I think I do know....
I think we get Oil out of PA and that really helps the PPS
I think Parker does something and somehow that helps us and
our PPS. Not sure how, just seems like they invested in them and
it has to be for a good reason to part with cash.
If they do Partnerships with other people like SBRH, maybe
Parker somehow gets involved and it benefits us and our PPS
even more, if they plan to merge with them I have no clue,
but I do think the more leases and projects we get involved
with the more we will grow as America becomes Oil Independent
and this is s w e e t
Go DKGR, GO
MC
Diversi, Buy whatever you need to,
but there was a lot of posting about us not getting this
or us not getting that on the lease and the $500k thing,
so I went and checked, and again we get 50% right away until
we pay off $11k then it's 100%
on the other lease with 500k it's the Glover Lease
MC
Divers.....
We start collecting right away on the wells, the $500k is another lease altogether that they have a option on.
On Myers, we got 50% until we pay off $11k, then 100%, almost sure I got it correct, but I know the $500k is the other lease that there is a option on.
MC
I'm assuming we get these wells going, and then we move on to
some of the other leases we have options on,
So we get what 2-5 cents and then what?
How do we get to the next level?
How to we get to the big time?
I think Parker Technology will help,
but I'm not sure excatly how that fits in,
what it gives us and the potential for DKGR
Shareholders from them,
hope they make that more clear and also clearify
after the 3-5 cent range how do we get to the next level?
MC
Diversf: My Two Cents....
I think where we are is the beginning of a Perfect Storm,
The U.S. is going Oil Independent and Plan to turn it into
a World Leading Export,
to be in on the ground floor is just great,
I hope DKGR develops everything they have and
tie up many more leases, because like I said,
it's the beginning of a Perfect Storm.
MC
Wipper, those numbers work for the 4 wells,
but my guess with those in production and that
cash flow we would see the others wells and maybe
new ones brot up over that timeframe, so I would
estimate your numbers to be less than half over
12 mos.
MC
So the question is quite simple: Will Drake get revenues from the Myers lease, and if so, when?
--when the wells start to produce.
Saying "eventually" is not an answer. Are you saying that there is any discernible date on which any revenues will flow to Drake from that well?
--the agreement clearly states that Drake gets 50% of the working interest that must go into the rework of other wells on the lease until the lease is owned by Drake. The exception is the Glover lease where all monies previously invested has gone into the Myers Lease.
If so, what's the evidence of that? If not, why all the wordy attempts to discredit someone who says, quite clearly and accurately, that Drake will not get revenue from that well.
--nonsense, the agreement clearly states that Drake will.
There are dozens of posts here squealing about production and obviously implying that there will soon be revenues from production, yet anyone who can read the lease can easily see that there is no revenue from production at any time in the foreseeable future. Do you dispute this?
---read today's PR and others previously on which they state that we will get production in the 4th quarter.
By the way, that "nominal benchmark" (what a euphemism) with respect to the Glover lease is, by the terms of the agreement, described as follows: "... seller must receive in consideration a total of $500,000 by the end of a two year period in addition to any additional funds invested by seller. The Seller shall receive all revenues generated from the property until the acquisition price has been paid or an alternative agreement has been reached. The $500,000 owed to the seller will not be paid by funds obtained from the working interest that the seller is otherwise entitled to ...."
--- this only applies to the Glover lease. If they want the Glover Lease and its revenues, we need to pay $500k.
The nominal benchmark is based on the formula and equates to $11k approximately. Once the former lease owner receives $11k, title reverts to a Drake and we go from a 50% working interest to 100% working interest subject to the overrides owed to previous lease owner for a term of three years.
As to the other leases: "Buyer agrees to provide funding for development with a goal of funding not less than two (2) wells per month during months when weather permits as determined by Buyer's operating personnel." Next time you get Matousek on the Magic Jack, ask him exactly how much money Drake has provided as to this funding requirement.
-- check the financial statements !!
There's not much point belaboring the further conditions of the agreement, except to note in passing that they mean that Drake will not receive any revenue from any of these wells until Drake coughs up a whole lot of money. Again, ask Matousek how much he's coughed up so far. You might ask him what "nominal" means to him, also.
--not true.
--Drake receives a 50% working interest on every drop produced until the lease owner gets paid $11k. We then get 100% working interest. Initially, our 50% working interest has to go to the development of additional wells on the lease.
Got a e-mail back from the company on never receiving asking about never receiving any revenue via the lease terms that some experts hereare very wrong about...
Read the section..... Please review the amount of $10,676 and read that whole section.
Heck that's not even etched but it's solid,
What next?
MC
Thanks Kimbo, Happy and Badcap, others
MC
Badcap... Do you know for a fact that they
will be using horizontial drilling, or
do you just assume they will?
MC
Kim, they have been doing that to me for years,
why I won't or seldom will engage them anymore.
And as for a prior remark on a typical DKGR PR,
personally I like the updates to see where we and
where we may go.
MC
Happy, I don't see this as any big surprise,
the field produced years ago when oil was much cheaper,
what I don't know is if they are using any new techonology
to produce it faster, cheaper and more in volume,
sure we'll get there, but what are the improvements
all these years later is someting I would like to know,
but getting it is no big surprise to me,
MC
Divers.. Looks like we're getting closer all the time,
MC
Divers...
No not really, he's pretty tight lipped on
that, something to do with not giving out insider stuff,
but he did seem excited,
and he spoke about a ton of activity in the area from other
people coming in to drill in the area, he said something
about as close as a 1/2 mile from their lease a lot of
activity was taking place,
then his phone seemed to go dead, my guess battery as
he seeems to be on it alot,
hope that helps some,
MC
Happy, I asked Peter about that yesterday,
First time I have spoken to him in awhile,
He said Sam has the rights to the deep drilling but
has to file a application and paper work if / when they
were ready for it,
I did not get the impression that they see it as a large priority at present.
MC
Divers,
Yes I think we are a heck of a lot better off then we were.
But where is it going short term and long term,
sure hitting that .0045 does not seem to be too hard
short term, but then what?
Maybe by Spring, what a penney or Two?
But long term 12-24 mos. with all those wells and new technology
what then? Mutiple+ Pennies?
I only ask because I don't know how to forecast out that far,
figured some people here with more experience would know better so I thought I would ask their opinions.
Sure, I will get 4-5 negative posts because of asking, but I've learned how to sift through them and if I get one good / solid one for ever 4-5 of the others, it's more than worth,
Thanks in Advance,
MC
Looks like people who think they know something are loading up today, and I assume for weeks now too,
getting the price down to these levels has taken a lot of work
and for those of us who are buying we should be grateful,
MC
Blow, if that is the case would the trust not have to do a deal with Drake in order to get to the deep oil as we have control of these wells at this point?
In other words as long as we have the rights to the wells, how can the trust go deep without going through Drake who has current lease?
MC
U.S. to overtake Saudi as top oil producer: IEA
LONDON (Reuters) - The United States will overtake Saudi Arabia and Russia as the world's top oil producer by 2017, the West's energy agency said on Monday, predicting Washington will come very close to achieving a previously unthinkable energy self-sufficiency.
The forecasts by the International Energy Agency (IEA), which advises large industrialized nations on energy policy, were in sharp contrast to previous IEA reports, which saw Saudi Arabia remaining the top producer until 2035.
"Energy developments in the United States are profound and their effect will be felt well beyond North America - and the energy sector," the IEA said in its annual long-term report, giving one of the most optimistic forecasts for U.S. energy production growth to date.
"The recent rebound in U.S. oil and gas production, driven by upstream technologies that are unlocking light tight oil and shale gas resources, is spurring economic activity - with less expensive gas and electricity prices giving industry a competitive edge," it added.
The IEA said it saw a continued fall in U.S. oil imports with North America becoming a net oil exporter by around 2030 and the United States becoming almost self-sufficient in energy by 2035.
"The United States, which currently imports around 20 percent of its total energy needs, becomes all but self-sufficient in net terms - a dramatic reversal of the trend seen in most other energy importing countries," it said.
IEA Chief Economist Fatih Birol told a news conference in London he believed the United States would overtake Russia as the biggest gas producer by a significant margin by 2015. By 2017, it would become the world's largest oil producer, he said.
The United States will rely more on natural gas than either oil or coal by 2035 as cheap domestic supply boosts demand among industry and power generators, the IEA said.
CAN WE BE PART OF THIS???????????????????????????
Why I'm in...
Ticker: DKGR
Nov 8 2012
Drake Gold's Pennsylvania Leases Remain Materially Unaffected By Hurricane Sandy
Company's Myers lease still on track for production in Q4
Well, it's been quite a week for America, with many events impacting our lives directly or indirectly. The re-election of President Obama was historic in terms of voter turnout and demographic, and this only days after one of the largest storms ever to hit the East Coast of the United States. Our thoughts and prayers go out to our shareholders, their families and all others that have been affected by Hurricane Sandy and its wake.
Amazing how in one week, some things have changed drastically, and many others have stayed pretty much the same. Thankfully, for Drake Gold Resources, Inc., the latter is still true today in terms of its leases in Pennsylvania. According to our Operator, there was minimal damage to our properties. Some wires will need to be hung and/or replaced and tank batteries are on schedule for installation within two weeks.
Despite the gloomy forecast for the Eastern Seabord the next few days, we are confident that our properties are inland enough to have sustained the last of any damage. The Myers lease still has electricity and we are confident in our anticipation for production in Q4 2012 leading to revenues in 2013 as previously announced.
I'd like to voice our continued gratitude for shareholders who have recognized the underlying value in the company through our recent change in management and overall strategic plans for success. We have posted pictures of some of the Myers Lease wells on the website with material announcements to come via Press Release.
Source: Drake Gold Resources, Inc.
Your post not mine....
kezzek
What a nice flip though. In at $.0006, out at $.0008. Quick 30% profit. I do feel sorry for the stuckholders, but someone was going to take their money.
I wonder how long it will take to get back under $.0004? Probably before the end of the shortened week, is my guess.
It's good to flush out these 3's going into next week,
but I wonder how much flipping will get in our way
if we go to your 5 cents that you predicted some time back?
On one hand there were only half the shares when
you thought we were going there, but on the other hand
with what has been accomplished since the did increase the shares,
It's hard to say, or at least hard for me to say,
so what, 3-4 cents?
MC
I should have kept quiet until I got my 3's,
got more 4's yesterday
MC
I just happen to be on the Newsletter Distribution
and there it was..
MC
Drake Gold's Pennsylvania Leases Remain Materially Unaffected By Hurricane Sandy
Company's Myers lease still on track for production in Q4
Well, it's been quite a week for America, with many events impacting our lives directly or indirectly. The re-election of President Obama was historic in terms of voter turnout and demographic, and this only days after one of the largest storms ever to hit the East Coast of the United States. Our thoughts and prayers go out to our shareholders, their families and all others that have been affected by Hurricane Sandy and its wake.
Amazing how in one week, some things have changed drastically, and many others have stayed pretty much the same. Thankfully, for Drake Gold Resources, Inc., the latter is still true today in terms of its leases in Pennsylvania. According to our Operator, there was minimal damage to our properties. Some wires will need to be hung and/or replaced and tank batteries are on schedule for installation within two weeks.
Despite the gloomy forecast for the Eastern Seabord the next few days, we are confident that our properties are inland enough to have sustained the last of any damage. The Myers lease still has electricity and we are confident in our anticipation for production in Q4 2012 leading to revenues in 2013 as previously announced.
I'd like to voice our continued gratitude for shareholders who have recognized the underlying value in the company through our recent change in management and overall strategic plans for success. We have posted pictures of some of the Myers Lease wells on the website with material announcements to come via Press Release.
Source: Drake Gold Resources, Inc.
Management
Drake Gold Resources, Inc.
I H ... Cool
You are also a good addition to the board
MC
Sorry, "Buy it chea", typo,
oh and if you an get in a position to delete
people's post if they challange you,
all the better I suppose,
MC
Iron,
It's come a long way,
but those statements you're referring to,
remember how he bragged about buying it cheap
and making a profit?
My guess is (and the procedure has been used by many)
badmouth the stock, but it cheap and then sell it
as a profit.
Now if I knew for a fact that we were getting Parker Shares too,
I would get a few M more today,
Anybody (well I should not say anybody) know anything about that?
MC
Iron, I want to see the news first and then make a decision,
If I have to pay more so be it,
I already have a couple of shares on my shelf.
Maybe I will buy more during the run if the news justifies it,
runs here normally last a couple of months.
MC
Lock,
I can't get any 4's,
been setting on that most of the day
MC
The 4's are no flying off the shelf either,
setting on 1m bid 4, it's the current price and
is not taking.
So there may be some 4's out there, but not many it seems
MC
I was holding out for a few more million at 0003,
but I guess .0004 is good enough to throw another 1m or
so in my cart,
MC