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it was 3 million shares.
Interesting now that the price is down to 300k and Renfro does not have controlling interest. In fact it looks like no interest. That says a lot about what these assets are worth. If they were truly worth anything he could have been paid and kept the assets. Now he is trying to get less money and will no longer own the assets. Sounds like a desperate man.
Nobody answers them because they are unanswerable. We were not there and do not know exactly what happened, just as you were not there. You throw out a red herring to make Jim look better. What is the point?
Here is a quick summary that could explain what happened. They had a deal that was good for a year as of the date Jim was appointed to the board. Jim was unable to prove the assets to Sam's satisfaction. Without Sam's approval Jim was not allowed to sell any shares for fundraising. Sam then gave Jim until the end of the contract year to prove the assets. Jim knew that it wouldn't happen and started making a move to a less reputable company.
What you have never answered is why is Sam responsible for raising the money? Jim had controlling interest in BRZL, why does Sam need to raise the money? Why would he pay Jim to take his shell when Jim is still going to own all of his assets?
i wasn't there. I have an airtight alibi.
why would you raise money for something that has no value? your argument makes no sense. in the history of business when has anyone ever brought money to the table without proof of what they are buying?
yes, please post the audit MC1. just wondering, if renfro passed the weiss audit why does he need another one?
you keep asking questions that you know nobody can answer, it is pointless. please tell me why Renfro is offering the same wells for 42% what he wanted Weiss to pay?
Don't bother I know you, nor anyone else can answer that. unless you are actually Renfro
I already am down, I'm not going to risk missing a ride back up even if it is unlikely to happen in the next month. It is dead money right now. Don't want it to become completely lost!
bummer
Tax question. If I sold all my shares now at a loss and bought them all back tomorrow for the same price, can I still claim that loss?
The history is that this company has huge debt, and they brought in someone with questionable assets in an attempt to eliminate some debt. I could care less about what FXPT has done in the past because they have no revenue and no assets. When this play is done they will likely be in the same position. The pps will also reflect this. There is money to be made here, no question about it. I just want people to understand there are no long term prospects with FXPT. this is just a gamble to get in and get out during the PR campaign.
So, going from .08 to .012 is performing well? Interesting theory.
yes, which is why I suspect a repeat of BRZL. as the deadline gets closer we'll see a spike in pps. Especially, if they put out some PRs. The thing is I highly doubt we will see the actual audit results. The wells are probably worthless to FXPT, but Renfro and the hype is invaluable. It gives FXPT the ability to create interest and dilute into the news. They can make some money to pay down debt and also give Renfro some cash. It is win win for them.
yep. Question is will dilution cause it to go lower than where it started before the PRs started coming out? Would like to get back in to ride the next wave of fluff PRs, but need to figure out a good entry point. Really looking forward to the countdown to the deadline for the "agreement". Should be fun.
They may not all be directly linked anymore, but they are still loosely connected. Old habits die hard and these guys all seem to repeating history.
Well this is one place to start looking
http://www.corporationwiki.com/Texas/Dallas/omni-oil-gas-inc/56754663.aspx
my question is how did all these guys get together in the first place? They remind me of the final episode of Seinfeld when the Judge says "I don't know how or under what circumstances the 4 of you found each other but..."
who knew you could make the old renfro energy website into an 8k?
http://webcache.googleusercontent.com/search?q=cache:BH6ItAsmQr0J:www.renfroenergy.com/Oil_Gas_Properties_PAGE.htm+http://renfroenergy.com/Oil_Gas_Properties_PAGE.htm&cd=1&hl=en&ct=clnk&gl=us
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8147078
I think it originally said this. lol
I disagree. according to the ihub FAQ section the following is allowed:
hmm, what were the odds of that?
MYRON PALERMO - another guy connected to Gordon Johnson? lol
http://www.rrc.state.tx.us/meetings/ogpfd/3-60491-DEF.pdf
http://www.corporationwiki.com/Texas/Dallas/myron-j-palermo/37948248.aspx
so who are the officers listed here?
http://sonlite.dnr.state.la.us/sundown/cart_prod/cart_con_orgad?p_orgid=C395
I don't see anything that Cameron Parish Pipelines has done
http://sonlite.dnr.state.la.us/sundown/cart_prod/cart_con_wellorg6?p_orgid=C395
works for me. scroll down
What is best for Jim will never help a shareholder.
I can't read his mind like you can.
the wells were not Petroleum Capital assets, you know that.
you are right it is Sam's fault. he fell for the oil story that Jim is spinning. he should have sniffed out the BS a lot sooner. Sam should have never done business with someone like Renfro. I'm assuming he's learned his lesson, and will be more careful with the next candidate.
he also likes to stir the pot, and say anything to make his close friend Jim look good.
I think he is saying Sam is a grumpy old man, and did this out of spite. he just wasn't hip to the P&D scene.
well, why wouldn't they be? wouldn't it be an admission that the wells he tried to sell to Weiss weren't capable of producing as advertised??
oh, I think I see why you are saying theses are different wells. PC is the operator, but Renfro energy had the interest in the lease. (although that is a debatable topic too) PC may or may not be under Renfro, but those wells are still his (partly his?). Could be why Cameron Parish Pipelines was created. Lose one business start another. maybe he needed the cash to purchase equipment that is needed to be the operator on those wells. lots of question marks and red flags about Renfro's businesses.
I don't know. not sure his current ownership status of PC really matters though. unless he did lose the company due to debt, and I don't think that is going to help your argument. I haven't really looked into it because PC assets weren't involved. they were merely the operator of the wells.
Different companies yes. Although, this is the same James Renfro, and these are the same wells. Feel free to post any verifiable link that says otherwise.
How are these not the same four wells? here is the direct quote from the PR
Define recent and standard? Last year and a half seems recent and relevant to me. Most of these violations are after he was given many opportunities to clean up his sites. Lots of nice pictures on the reports to show how Renfro is not interested in maintaining the land he drills on.
By the way here is the inspection reports of the wells being orphaned. Love the picture in the first link.
http://ucmwww.dnr.state.la.us/ucmsearch/UCMRedir.aspx?url=http%3a%2f%2fdnrucm.dnr.state.la.us%2fucm%2fgroups%2fconservation%2fdocuments%2fooc%2f3955298.pdf
http://ucmwww.dnr.state.la.us/ucmsearch/UCMRedir.aspx?url=http%3a%2f%2fdnrucm.dnr.state.la.us%2fucm%2fgroups%2fconservation%2fdocuments%2fooc%2f3942062.pdf
Sorry, attempting to sell.