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That second one
http://www.natgas.us/solutions/lateral.php
Was one of the first customers of Verdisys/Blast, Natural Gas Systems which changed thier name to Evolution Petroleum when they got Listed on the AMEX. This page where they talk about lateral drilling is talking about Blast. A large stockholder is Berg group who is holder of Blast also. I think Evolution is a great buy around $3.00 a share and will be 6-10/share in 18 to 24 months. See slideshow on web site.
That is odd because
I had a dream last night that when my alarm clock went off the radio came on with the news and the news story was about Blast Energy and a big discovery at the Wyoming testing site. I got all excited then I woke up. Let,s hope dreams come true.
November in Wyoming
Have to wonder how must field testing they can get done in Wyoming in November. What can get done before winter sets in and can they do anything during the winter.
Do we have to wait till spring?
I would have thought that..
"We believe this step-by-step test plan, together with the ability to view the results through down-hole cameras, will greatly assist us in understanding the full capabilities of our technology."
I would have thought that they would have done something with cameras before now, to see what the real results were down in the hole.
Thank you for the info.
Lets hope something good things come from this DOE job.
BTW - Last time I called IR and put something out here I got bitched at so I am a little shy. Still do not understand why.
Can someone call IR
And find out what the status is with Blast Unit #1.
Is it with the DOE in Wyoming?
When is this going to start going back ???
Is this dispute over the drilling rigs that big of a deal.
It they are not paying can they not just get another customer. I thought that rigs were now in short supply.
Any news on Blast Rig #1 ? Is it in Wyoming?
Dulution factor
First, let me me say that when calculating dulution factor I think most people calculted it incorrectly.
Lets say one has 10,000 shares in a company that has 100,000 shares or 10%. The issue 100,000 more shares. Now you have 10,000 out of 200,000 or 5%. You have been duluted by 50% or you lost half of your percent of ownership. If they issued 300,000 or shares then there are 400,000 shares and you have 2.5 % of the company. This would be a 75% dulution factor because you have lost 75% of your owner ship. But to be 75% the total number of shares had to 4 times the starting.
The number of shares issed, options, and warrents was around 50 million ( give or take a million these are as of Dec 31 2005) so for a 75% dultion factor there would have to be 150 Million new shares.
I would be a little upset if the dultion factor was 75%. ( I think it is closer the the 39% that I calculated earlier) I understand that the odds of success are greater with this purchase but the payoff is also less.
Second, a couple people have comment about 5 milliom dollars in the bank. Is it not 20 Million?
Financing terms for the acquisition include a three-year Senior Debt facility for $40.6 million from Laurus Master Fund, Ltd, $35 million of which was used to close the acquisition. The facility carries interest rates of prime plus 2.5% and 30% warrant coverage. Blast has also entered into a private placement with members of the selling group to purchase 15 million shares of common stock at $1.00 per share. This placement includes 33% warrant coverage
40.6 Million - 35 million = 5.6 million
Plus 15 Million = 20.6 Million
I know that these calculations are rounded and just guesses but I think they are some what close.
What numbers are you using?
Financing terms for the acquisition include a three-year Senior Debt facility for $40.6 million from Laurus Master Fund, Ltd, $35 million of which was used to close the acquisition. The facility carries interest rates of prime plus 2.5% and 30% warrant coverage. Blast has also entered into a private placement with members of the selling group to purchase 15 million shares of common stock at $1.00 per share. This placement includes 33% warrant coverage
40.6 X .30 = 12.18 million
15 million private placement plus 5 million warrant coverage
thats 32.18 million new shares.
I thought currently there was around 50 million.
32/50 = about a 39% dilution factor.
Are these the numbers you are using?
I guess there was no news release this week
In Message 431 there was a line about a new release NEXT week (July 16-22, I guess we are still waiting.
Yes, I have NEWS!
The Stock is going up.
Old Blast customer update
Natural Gas Systems (NGSY.OB) closed on its sale to Denbury Resoures (DNR) its Delphi oil field for $50 million plus 25% interest after the first $200 million in oil revenue. Looking at this the company current price is 2.81 and only has 25 million shares so the $50 million is $2.00 a share. They used some of the 50 million to pay off debt. After a couple years they will get 25% of the oil revenue and have no cost to them. Based on the company estimate of 15 million barrels over 20 years or 750,000 barrels a year they will get 37 ($50 barrel oil )to 75 million ( $100 barrel oil)dollars yearly that is $1.50 to $3.00 a share of revenue each year that has almost no cost and most would drop to the bottom line. How can this not be a $10 stock or at the least a $5.00 one?
Up Up and away.
Does anyone have news on why the large increase the last two days?
Email from Blast
Got this yesterday with link to Herdonthestreet.com which did a store on Blast.
Dear Blast Shareholders,
Rig repairs are going well. It appears that we are on track to complete repairs by the lower end of our announced timeline, which would put us back in commercial operation during July. In the meantime, we are also continuing to participate in programs to increase investor awareness. Thank you for your continued interest in Blast Energy Services.
If you have any questions or comments, please give me a call.
Sincerely, John MacDonald
Old Blast customer NGS news
Natural Gas System one of the old Verisys/Blast customers sold one of thier oil fields for $50 million plus they get 25% after the first $200 million revenue. The new compnay is going to invest $200 million in the field. They think that the 25% could be 10 million barrels or more. At $60 a barrel that is $600 million dollars over several years. This turns NGS from a couple million dolars a year revenue to a $10 million plus a year plus in a few years.
Look at the time of the post.
It was early in the morning and when he said today he was talking about the day before when over 100,000 shares changed hands.
I have to wonder...
When I talked to them a while back they were having problems with the abrasive fluid wearing out cutting heads, lines, and other equipment very quickly. Wonder if that is why the demo was delayed ( had to replace worn equipment) and did they get it fixed.
If anyone goes to the demo
Please write a report and post here.
WOW - That's what we have been waiting for!
Let's hope they get a big crowd and all goes well.
Was anyone else
In on the shareholders lawsuit?
We were to get shares as part of the settlement.
I have never gotten any shares has anyone gotten thiers?
What's Up or What's DOWN?
Why the big sell off?
Down big on not so big volume. Anyone hear anything?
Sounds like ...
It is going to be a while before it is really in the field generating REVENUE!
During the coming week, the Company intends to complete the connection of the abrasive fluid system into the coiled tubing and the computer control wiring to the coiled tubing injector and well head control systems. (Lets says this is done by this during the coming week Feb 14 - 21)Then, a series of tests are planned to demonstrate the rig's casing and rock cutting capabilities in a down-hole, water filled environment. Photographs of the results from these tests will also be posted to the Company's website. ( Lets say this is another week Feb 15 - 22)
Following these demonstrations and with the rig fully operational, Blast plans to spend a period of time training its operating and maintenance personnel in running the rig both in the construction yard in Fort Worth and out in the field at the company's first job in Louisiana ( Week in Ft Worth Feb 23 - Mar 1 and week to move and setup at first job Mar 2- 8)
So hopefully by March 8 some REVENUE may finally start from this rig if all goes well. My bet is on end of March first work done in field.
Have a Blast of a day!
Wow - $1.60
I am finally even!
Still holding some brought at $12.00 and a ton at .40 for an average of 1.60.
I remember when
this was going to be done by last summer 2005.
Wheeeee what a ride!
Yesterday's close .86 This morning -.10 at .76 then up .-9 at .95
Then close at .91
Do not know if I can take this.
.86 .87 .88 and counting
Did anyone here if the delayed demo that was going to be on Nov 11 ever happen? Last I heard it was delayed 2 weeks which would have been last Friday.
BESV Presenting at the National Investment Banking Ass. Dec 1-2
In Vegas, Dec 1 - 2 at the NIBA conferance Blast will be presenting the company. Interesting to see if this moves the stock.
.59 .60 .61
Counting it up!
In a couple weeks it will be
1.01 1.02 1.03
Nov 11 +.12 to .54
Well it looks like we are finally starting to see some movement.
I bought 2500 more on Tuesday at 38 cents. Lets hope for a good demo tomorrow. What does everyone here think the price range is for by the end of the year.
I am hoping for 2.00 dollars by the end of the year.
And 5.00 a share by end of June would be nice.
I bought some at 12.00 a couple years ago, it would be nice to see that range in the next 2 years.
CNCN - in Louisville Ky
Which is where I live, by chance are you in Louisville?
Added another 2500 share today.
This makes 12,200 shares.
When is this going to takeoff?
Nov 1 is next Tuesday is there to be a private display in Nov?
Does anyone know where?
If we are buying
Who is selling??
Interested buyers for 1st rig???
Is that interested customers to use the service or buyers as in buying the rig?
One - Blastoff?
Well one day left till Oct 1. Wonder if they work on Saturdays?
One would think that they would be getting some revenue when testing on live wells. Which should be the next step.
Been waiting a long time for this day, lets hope they hit the target and that IT WORKS!
T minus 10 days and counting
Well, it is 10 days till the new rigs is scheduled to be done.
Will, it get done on time? And will it work?
Anyone know or heard anything?
Countdown = 32 Days
Do any of you have any NGSY.ob stock?
This is one of the companies that McAfee owns part of and that Verdisys had contracts with. Was up big today 40 percent. Should be reporting earning soon, thier year ended June 30th so reporting could be delayed a little. Think this could go from 1.40 to the 5-6 range in the next year if oil prices stay up. Also they will be a Blast customer if rig works and benefit both stocks. If rig works the biggest problem will be getting the rig to thier wells, they had an agreement with Verdisys ( I do not know if the agreement is still in effect) for four wells and all future wells would be at the lowest price of all customers. So if the rig works and they have a backlog the last wells you would do would be the lowest paying ones.
Countdown = 36 Days left
Till Oct 1st the day that the new rig is targeted to be done. This company sinks or swims with this new rig.
I would think that the stock would edged up as the big target date approaches. I hope that good news starts coming out soon and this finally takes off. $5.00 a share would be nice. What does everyone think the upper limit is for the next year?