Always searching for the next sleeping giant that's about to wake up
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That would be a great idea if you live close. FEI shouldn't be too evasive about filling you in.
Mike Siegel at ECOS is pretty straight forward as well. You can call his office and talk to him if you have the urge. He will be upfront with you and is definitely not the type to milk investors. This guy has been working on build ECOS for years and could make a fortune once these products go in to production.
Wouldn't make sense for him to make a living by screwing people over.
i didnt get any answers
No I called the office of Utah Resources at (435) 628-8080
I think the only way that we find out what is going on with NVAE is to find John Fife. He is involved in a variety of ventures but most notably Tonaquint, Inc. and Utah Resources International, which may be one and the same.
I called there this morning but got no answer.
I think people are so far down that it's just not worth it to sell down here. There is better upside potential than downside risk.
Thank you Claudio. I will keep everyone aware of any correspondence I get back.
Here is the email I sent them. The link to the filing I mention is here: http://www.sunbiz.org/scripts/ConvertTifToPdf.exe
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Hi Jim,
I am wondering why you and Wayne are not answering or returning any phone calls regarding US Natural Gas Corp considering that both of you are collecting sizable salaries in excess of $150,000 each per year plus monthly car allowances? I am assuming those salaries are being paid by stock holder equities and that the stockholder ought to have the opportunity to know what those salaries are paying for? Considering the company has not published any financial information which would support such salaries, it doesn't seem plausible that your salaries could come from any other source.
I also have questions regarding a filing with the SOS of Florida (Document Number P08000032840) which US Natural Gas filed on May 8, 2012, which stated that the issuance of additional shares was "adopted by the Board of Directors ... and approved by a majority of shareholders." To my knowledge, shareholders were not made aware of such amendments until after the documentation was filed.
Obviously, this is highly concerning to see management accepting formidable salaries while issuing billions of new shares and producing no publicly known revenues. Is there a possibility that I have missed something regarding your operations that would contradict my worries?
If you can not answer these questions directly, please provide me with the contact information for your Investor Relations and I will contact them directly.
Sincerely,
Brett Bartlett
President
Shy Bear Consulting, LLC
I just sent a very blunt email to Jim and Wayne Anderson posing questions regarding their salaries and consistent lack of accessibility (i.e. not answering email or phone calls). I also posed the question as to why they made a filing with the secretary of state of Florida stating that the Board of Directors along with a majority of shareholders approved the issuance of additional shares of stock.
I attached a ton of documentation that they have filed regarding their operations to show that much DD was done.
Now we wait and see if they respond.
That was a great interview. The CEO was pumped and definitely makes this stock look like a great long term position.
As much as I would like to see this stock pop so we can all make a little money, I have to say that I don't think it is likely in the near term.
Just for kicks, I call Wayne's cell phone every day when I get in to the office to see if he will answer. So far, 12 days in a row with nothing but "You have reached the Sprint voicemail box of ... Wayne Anderson....BEEP!!!" How annoying.
OUCH. I live in the wrong state.
Actually that house would run closer to $700K in the area of Berkeley I live in. My neighbors 1940's 3 bedroom just sold for $725 and it needed some serious work.
LOL very true. My interest in driving by is more of a personal interest than a stock interest. My company is looking in to the possibility of Nat Gas well acquisitions while the market for Nat Gas is dead. Leaseholders and land owners are offering rock bottom prices on new leases or buyouts.
For the most part, YES this area of the country is doing quite well on oil and Nat Gas production, but prices are falling and it takes a lot of money and time to get abandoned wells back up and running.
You have to remember that UNGS did not drill any NEW wells. They built their business by buying expired leases and abandoned claims. Their job was to bring the existing wells online and back to production levels.
If they have indeed started doing that and are producing oil, then they should have a very bright future. But none of us know what they are doing because they won't tell us.
I am half tempted to go out and visit the well sites that they have permits on to see first hand what they are up to. But I live in California and they are all on the East Coast.
Well Chetra, I am holding long if that makes your day any brighter. At this point I can't afford to sell off. I need UNGS to get back up near 0006 before I even consider it...and by the time it gets up there it's going to be on it's way to 001 so I will probably just keep holding until it gets to 0012 or 0013 or 002...
HI Oilin, that's not necessarily the entire case here. Share dilution was approved by Shareholder's...unbeknownst to us...according to the filing by UNGS in May with the SOS of Florida. However, prior to that intense downward pressure has been put on the pps by shareholders themselves. With little to no news from the company investors don't have a clear vision of where this stock is going and have been trying to buy in on the BID or are just selling out their positions to move on to more promising ventures.
Until there are solid numbers and factual information made publicly available by the company, this will continue to be the trend...or until we hit 0001 and the bottom is reached.
Buying in down here presents incredible upside potential, but one click downward could cost a new investor half their initial investment. It's a crazy game.
Very true statement about the boom in these states and UNGS SHOULD be benefiting from that. Unfortunately, they are not sharing ANYTHING about what is going on so investors are beating the pps down as far as it can go.
If I had the capital to buy out UNGS and make it start producing, I would in a heartbeat. Unfortunately, I don't have a million or two to put into a project like this.
Hi Flawless,
I can honestly state that I am just beginning to speak one on one with the company and don't know the inner details of financials other than the good news we saw in the quarterly report.
Unfortunately, as a potential investor I will not be able to publicly state any inside information I am given regarding the company, but can say that I believe enough in the product and the future of the company to provide them with working capital. At some point, they won't need my chump change any longer and then we will all benefit.
Hey Tommy. I actually think I know you if you are from Cali. I can't say for sure that the future of ECOS is dependent upon my financing or the financing of others, but they do need capital for day to day operations until their product can be brought to market. It really is a matter of needing short term "Bridge" funding which is quite typical in development stage companies. It's not something to worry about but rather gives people like me who do a fair amount of "Angel" investing and bridge loans to capitalize on short term monetary needs.
I regularly lend money to start ups for short periods of time at ridiculous interest rates to help them bring products to market. It's safe for me and provides them with relatively easy sources of cash.
Well my source was Michael Siegel the CEO whom I have spoken with extensively and he didn't take in to consideration how long negotiations with foreign entities can take. Things are still in the works, but taking longer than expected.
I am personally in the process of making some funding arrangements to help this project move along.
If I get any news I will pass it on.
I am adding it to my contacts and putting it on speed dial
That documentation states that the amendment was "approved by a majority of shareholders." If that isn't a blatant lie I don't know what it. I bet the iHub posters own the majority of shares and none of us were given the opportunity to vote or debate that. UNGS certainly didn't get my approval.
Yup. Truly pitiful. I have helped take three corporations public and have never seen such blatant evasion by executives.
Oh and by the way, Jim Anderson actively boasts of how he loves to travel the world, play golf and go deep sea fishing. Must be nice to take peoples money so you can enjoy the finer things in life.
I have been trying to get in touch with Jim Anderson (Wayne's Brother and the VP of UNGS) and that bass tard does everything he can to avoid me. I have his contact info at the Hotel Investment company he runs, his Twitter account, His Marcellus Shale screen name, his LinkedIn profile and he absolutely refuses to comment on UNGS.
These Anderson guys are total POS's. No honorable business owners would treat investors the way they do.
Has anyone seen the ties between Wayne and Jim Anderson and an investment company called "NATIONAL HOTEL INVESTMENTS"? Here is the contact info. Maybe we can get an answered phone call from them.
Name
Jim Anderson
Company
National Hotel Investments, LLC
E-mail
Contact Jim Anderson (National Hotel Investments, LLC)
Office Phone
(404) 784-4004
Fax
(678) 513-4600
I have had a buy order in for 2's for over a week and haven't picked up any.
I have run dry on DD to post. I know where all the wells are which are under UNGS authority, I know what their permit status is, I know which entities UNGS is using to "operate" these wells...I just don't know what is coming out of them and whether or not it is turning in to profit...soooooo in other words I don't know $h!t. Until Mr. Anderson decides to shed some light on the situation.
This is the most quiet I have seen this room in a long time....it's as quiet and PR from UNGS
I have been watching this stock for over a year and doubt very seriously that it will be dropping to 2's for more than a moment before they all get swept up. 1's are totally out of the question at this point.
Lucky you. I never get my 2's filled and I try all the time.
Unfortunately the Dept of Oil & Gas only makes available permit information. I don't see anywhere that shows actual production levels.
It is a current listing as of today
Ok so here is the count that I am coming up with according to the Kentucky Dept. of Oil & Gas for E 3 Petroleum AKA UNGS.
DR (Dormant Well) = 1 well
PR (Pumping Rods) = 40 wells
ABD (Abandoned) = 3 wells
PA (Permanently Abandoned) = 1 well
AI (Active Injector) = 2 wells
SI (Shut In) = 1 well
Total of 48 wells in Kentucky with active permits.
It would just be nice to know what that value is.
Thank you Blackhawks. Very helpful. I will get you a count of all the wells and their designated status.
Well guys, in less than an hour I got a response from the Department of Oil & Gas in Kentucky with a listing of all the permits on file for E 3 Petroleum (A wholly owned subsidiary of UNGS) and sure as hell they have a ton of wells with active permits. I haven't counted them all, but I will and let you know.
There is one section in the permits that lists status and I am not sure what the codes indicate: PR, SI, AI, PA, ABD, DR. Anyone have any clue what those codes on status may mean?
I did some searches on the LAT/LON coordinates of each well and found some, when others were not visible by Google Maps Satellite view.
Here are the coordinates to one of the wells.
37.009505, -85.261007?
LOL That actually made me laugh this morning. Good one. Well I guess in my spare time I will do a little digging and see what I can find. I just hope I don't uncover information that says UNGS is BS. Hopefully I will find the opposite...but what's the likelihood of that? <--Rhetorical question
Are you being facetious? And where might I find solid confirmation of those numbers?
Has anyone tried contacting the Kentucky Energy & Environment Cabinet? Kentucky has an "open records" policy that enables the public to have access to ALL available records concerning permits, land use, conservation, safety, air quality, environmental protection, etc.
There is a contact for the Division of Oil & Gas who may be able to direct us on how to look up the status of UNGS permits, etc.
Division of Oil and Gas
1025 Capital Center Dr.
Frankfort, KY 40601
Nicole L. Allison
502-573-0147 Phone
502-573-1099 Fax
nicoleL.Allison@ky.gov
It may be worth a shot.
"Please be sure that all replies to this include pictures of oil rigs"
Blackhawks, Does this count???
http://largest-oil-rig.oilrigdrillings.com/images/largest-oil-rig-2.jpg