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Remuda sends the check to UERI becuase they are contractually obligated to do so , now Remuda dont care what UERI does with the money or who they pay or dont pay, nor do they care if FTXN is an empty shell - not sure how Remuda sending checks to UERI solidifies FTXN as more then a shell>?
GFCI shareholders complain on the boards , that is about all we do , well that and send SEC letters faxes calls emails daily to stick it to Jim Dial. If the company had money or assets RReed did not already own judgemnt against I am sure an attorney would launch a class action... not sure why one has not been launched > must be lack of asssets left....
IMO Investors wont buy FTXN - Few of the Main reasons > Most here believe GFCI owns this asset AND the drilling company PDEI > GFCI shareholders have a lot of FACTS behind them showing UERI/PDEI and thus FTXN should be a wholly owned subsid of GFCI > No one is going to buy FTXN stock until this is clear - AND #2 > Look at how the CEO stripped GFCI owned assets UERI/PDEI and transferred to FTXN the minute CEO destroyed GFCI share structure, and he stripped the assets w/o even so much as a PR or a plug nickle to GFCI shareholders - IMO Buyers know FTXN is just a shell and CEO Jim Dial has and WILL move these assets from shell to shell as the share structures pump dumps dictate. AND to throw in wildcard #3 - VYEY IS making some PR claims to FTXN WELLS.... FTXN is extremely dangerous and risky stock > GFCI rightfully OWNS 100% of the FTXN asets IMO
The FLEECING of GFCI assets continues > Victory Energy Initiates Drilling 9th Gas Well
Victory Energy Corporation (OTCBB: VYEY) announced today that it has started drilling the 3rd gas well, bringing the total wells to 9 that the Corporation has in its gas play, located in the Texas Permian Basin.
The new drilling rig started drilling the 9th well for Victory on Friday, March 14. Victory's target zone for this well is the Canyon Sandstone gas zone. The Canyon Sandstone formation is found at a depth of 4,300 feet to 4,900 feet. Initial production for these gas wells is approximately 250,000 cubic feet of gas per day per well. The success rate for commercially producing gas wells in this area is over 97%.
Well 166-6 has decreased the amount of stimulation water it is flowing back during a 24-hour period; it is now dry enough to have the single point test conducted. Fesco has been scheduled to conduct the single point test on March 20; test results should be available by March 24.
Well 166-8 currently being drilled reached a total depth overnight of approximately 5,000 feet. The logging crew is on stand-by while the drilling crew conditions the hole for the logging tool. Logs will be available by March 18 for zone evaluation. Victory will evaluate the results of these logs to determine how deep to set casing and where to perforate the production zone.
"With the new drilling rig now in service, we are on track to drill a minimum of two wells each month. By maintaining a consistent program at this level with two drilling rigs running around the clock, we can evaluate an expansion of the drilling program and add additional rigs and the resources required to support them," stated Jon Fullenkamp, President of Victory Energy Corporation.
The fleecing of GFCI shareholders assets continues!
I was not aware of it , new news to me :) > I also see HMG works out of the same offices as DLAV , splits at least 1 employee , AND DLAV pays HMG for consulting , while at same time HMG is selling services to DLAV customers and in all reality HMG should be paying DLAV for a number of things, not DLAV paying HMG? > WOW - I had no idea SH had DLAV rigged like an indian gaming slot machine, it appears DLAV is HMG meal ticket , DLAV should contest this and in all reality should OWN HMG as a sudsid - dont you think? IMPO
Why was DLAV lending money to Humphries Marketing group at end of 2006 ? DLAV lending money it gets from selling stock to Humphries Marketing the CEO private firm? That dont sound right? Does this still happen>?
http://www.secinfo.com/d12TC3.uYX9.b.htm
PROMISSORY NOTE
$32,341.00 Addison, Texas December 20, 2006
FOR VALUE RECEIVED, Humphries Marketing Group, LLC (a Texas limited liability company) doing business at 16801 Addison Road, Suite 310, Addison, Texas (the "Undersigned") promises to pay to the order of Dealer Advance, Inc. ("Holder"), or at such place(s) as Holder may designate in writing, the principal sum of Thirty-two thousand three hundred forty-one no/100 dollars ($32,341), together with interest thereon at the prime rate as published in the Wall Street Journal and due and payable upon on or before June 30, 2007.
An event of default hereunder shall be deemed to occur if (i) the Undersigned shall cause or suffer Humphries Marketing Group, LLC to sell substantially all of its assets, or (ii) the undersigned fails to repay the note in full as per terms set forth herein.
All notices and demands permitted or required to be given hereunder shall be in writing and shall be sent registered or certified mail, return receipt requested, postage prepaid, addressed as follows:
To the Undersigned:
Steven E. Humphries
Humphries Marketing Group, LLC
16801 Addison Road, Suite 310
Addison, TX 75001
To Holder:
DealerAdvance, Inc.
16801 Addison Road, Suite 310
Addison, TX 75001
or at such other addresse(s) as may from time to time, be designated in writing. Any such notice or demand shall be deemed given at seven (7) business days after the date on which the sealed envelope containing such notice or demand is deposited in the United States mail, properly addressed and with proper postage prepaid.
The Undersigned agrees that in the event default occurs and this Note is placed in the hands of an attorney for collection, the Undersigned shall pay all costs of collection including reasonable attorney's fees.
This note may not be terminated, modified, or amended orally, but only by an instrument in writing signed by the Holder.
This note shall be governed by and construed in accordance with the laws of the State of Texas.
By: /s/ Steven E. Humphries
steven E. Humphries,CEO
Humphries Marketing Group, LLC
/s/ Steven E. Humphries
Steven E. Humphries, Individually
I agree , once they get the structure settled and get these new mines coming online CDE can be a MONSTER producer , and correct the new deal is not bad , but they just doubled the OS to over 500 million , that a LOT of dillution over short period of time , will take some time to get it settled, but long term things look good for CDE.
One sticking point that bothers me>>>>=
Insiders only own .25% > one quarter of ONE PERCENT > .25% of the stock? They dont have much to lose or gain from the stock? No skin in the game>?
Yes I do as well, CDE is good long term play , but short term they may have some issues until they get the share structure stabilized....
EPS will suffer to penny and sub-penny levels. It Will take 10MILLION PROFIT for EPS of $.01 per share on 1 billion shares OS, Plus have you ever seen Yahoo , MSN money etc... list EPS UNDER .01 (.005?) > Major OS does NOT help anything for sure.... It DOES hold a stock back - will it hold it back "some" from running up sure it does , but to say it will "never" run because of OS close to 1billion is not truthful , but to say serious investors wont take a look and invest may not be to far from truth , high OS does hurt the chances of a run amongst other things, Yes sure it does. IMO.
I agree - just not so sure about CDE management - they need to stop all this dillution and let business catch up - insiders only own .25% that is one quarter of one percent .25% of the stock. They dont have vested interest in the stock price - well they do - they sell stock for money so they do have interest to a point - but with such little insider ownership it is real easy to forget about the share price and shareholders IMO.
I sold some of my CDE common late last week , but into PAAS - I did keep a fair size core postion in CDE and also own JUN08 CALL 5 Options so I AM LONG on CDE and do think it has untold potential with SILVER about to explode , now if they could just prove to the market this dillution is all over , maybe do a share buyback , or see some insiders take postions , that would help. Silver is going to keep going up , can CDE get its share structure in place to reflect the true value is the question. GLTA CDE Investors.....
The other side of your chart says you have long way to GO >
RVGD3MONTHCHART.jpg
Why Silver is better than Oil as an Investment
(Silver's cheaper, more rare, and not nearly as dirty, or heavy!)
Silver Stock Report
by Jason Hommel, March 15, 2008
1. There is a 40-year supply of oil in the ground. There is a 14-year supply of silver in the ground. Therefore, silver is the better investment.
If "peak oil" is true, then every peak oil nutcase out there ought to be several times more worried about "peak silver", since silver reserves will run out sooner.
If oil is used in more kinds of products than any other commodity on earth, then silver is the second most used commodity, used in electronics of all kinds. And if silver is used up first, then we won't have all the electronic machines needed to go and get the oil!
But the "peak oilers" are not so worried about silver. Why not? I can only guess, but it is an educated guess based on extensive reading of their works over the years. I suspect it is because they are ignorant of silver, ignorant of economics, irrationally fearful, and worship government and "mother earth" instead of God.
2. In 1970, there was a 10-year supply of oil in the ground. We did not run out in 1980. We explored, and found oil. Mankind has explored for oil and produced oil only for 150 years or so, which creates extra fear of uncertainty (unlike silver and gold's 5000 year history). Since we did not run out in 1980, then we will not run out in 2050, over 40 years from now.
3. If it's not about "running out" but rather, running out of the "cheap stuff", fine, I agree! If we run out of "cheap oil", we will run out of "cheap silver" far, far sooner, so silver is the better investment, and will outperform oil.
4. The silver to oil ratio: In 1980, at the former peak prices for oil and silver, oil cost $43/barrel and silver was $50/oz. An oz. of silver was worth more than a barrel! At the bottom of the market around 2000, oil was $10/barrel and silver was around $5/oz. This implies a price for silver of somewhere between $55-110/oz., with oil prices remaining stable. If oil doubles from here, then silver will go up ten times, to $220. Therefore, silver is the better investment.
5. The public will never buy 100 barrels of oil to store on their front lawn, at $110 each, to save $10,900 worth of wealth. The public will buy a $15,000 bag of silver to store in the closet, or home safe.
6. The silver market is orders of magnitude smaller than the oil market, and will move far higher with a smaller amount of money moving into silver.
World oil supply is 85 million barrels of oil per day x $109 = $9.2 billion/day, or 31 billion barrels/year, which is $3.4 trillion per year.
World silver mine supply is 650 million ounces per year x $21 = $13.6 billion/year.
In the long run, if paper money fails, the world might have to pay for oil with silver. (Gold would be used for everything else). In that case, that implies that an ounce of silver would buy 47 barrels of oil (31,000 / 650 = 47), which implies a price for silver of $109 x 47 = $5200/oz.
Interestingly, even gold is a much, much better investment than oil, because all the gold ever mined in all of human history is about 5 billion ounces, which, at $1000/oz., is $5 trillion, which would barely pay for the world's annual oil consumption of $3.4 trillion. But as you all know by now, silver is much better than gold.
7. About 70% of the world's oil is supplied by national governments that have confiscated private oil discoveries. Therefore, oil is a risky investment. National governments generally do not spend money on exploration or development; they spend nationalized oil profits on wasteful social programs to maintain the power of the government thieves.
Of the other 30% of the world's oil, the "free world's" oil, about 9 cents per gallon of gas goes to the oil companies as profit, and about 51 cents per gallon goes to governments in taxes. Thus, 51 out of 60 cents, or 85% of the "free world's" oil has been nationalized, too. Therefore, oil is an extremely risky investment. Not only is the price of oil too high, but governments steal most profits that exist in the industry, world-wide. Investors ought to worry far more about governments stealing an oil discovery, than a silver discovery.
While oil prices moved up over ten times from $10/barrel to $110/barrel since 2000, Exxon Mobile stock barely doubled from $40 to $85. This shows that the "big oil" companies are not "getting rich" off of high oil prices, due to excessive government taxation. (Chevron has also gone from $40 to $85 since 2000, and BP has done much worse, going from $60 to $64 since 2000!)
If only 1% of gross world oil profits were spent on silver, instead of being stolen by governments, that would be: 31,000 million barrels x $110 x .01 = $34 billion. Since total annual investment demand for silver is about $1 billion, then I estimate that much money would move the silver price up to well over $200/oz.
Yes, 1% of gross world oil costs would probably drive up silver prices over ten times!
8. I believe "Peak Oil" is a fraud. If the world does hit a "Peak Oil" temporary mini trend sometime in the next 50 years, it will be due to worsening government theft, nationalizations, confiscations, taxes, and wars, not lack of oil in the ground in the world, and all of those things would be very bad for investors in oil.
9. I have never seen a peak oil proponent advocate free market solutions; nor do they invest their own money into alternatives (some of them are broke!); they always call for more government power, and more government controls, and more government "solutions". Therefore, their entire argument is as fraudulent as government itself.
10. I believe "Manmade Global Warming" is a fraud, designed to increase government control, or even "justify" the "global solution" of world government. We may be in a mini warming cycle, but 30 years ago the world was in a cooling cycle and the fear of the day was of an impending Ice Age. If "manmade global warming" is true (and it is not), there should be more of it; we would save on heating bills; and be able to plant more crops, and enjoy a wider variety of good wines from all the vineyards that could be planted farther north, like several hundred years ago.
11. Silver is not a fraud, and is the antidote to the fraud of the dollar, and the antidote to excess government power, and government theft, which is the real problem in the world, not "peak oil" or "global warming".
12. Silver is not confiscable. This is why silver is money; it is private ownership of wealth, it is true wealth, it is owned annonnymously, and is the antidote to theft through inflation or confiscation. There is not enough silver to confiscate, because the silver market is too small. All the silver in the world is worth perhaps $20 billion, which is infinitesimally small compared to the budget of the U.S. government. If the government confiscated silver, because it was "worth it" for them, it would imply that silver was worth about $10,000 per ounce.
13. There is no "oil problem". It is an energy problem. If oil prices get too high, the free market will provide energy through other means; wind, or solar, or nuclear, or coal liquefaction, or geothermal, or further oil exploration. I suspect the U.S. hit peak oil in 1970 because we abandoned silver coinage in 1964, and abandoned gold in 1971, driving up all domestic prices and severely distoring world econimcs. And with paper money, it became cheaper to buy foreign oil with fraudulent paper, rather than explore and produce it at home.
14. There is a 300+ year supply of coal. Coal liquefaction technology can make liquid fuel from coal. This is old, reliable technology, and dates from before World War II, both in Japan and Germany.
15. Most solar energy that comes to the earth is wasted. Look at the amount of solar space available in the deserts of the world. The Sahara is a very big place. All of the world's energy needs could probably be satisfied with a solar panel that covered 1/4 of the Sahara.
16. Yes, I know about the Hunt brothers. Do you know the full story? They tried to protect their oil profits in silver. Their oil was stolen by Libya. I believe that the mistake of Nelson Bunker Hunt, who is alive today, is that he tried to borrow money to buy more silver than they could afford, so they lost money when it went down from $50/oz. Don't make the same mistake. Don't buy silver on leverage, and don't let other people hold your silver for you.
Helpful links:
To answer my frequently asked questions from beginning investors:
http://silverstockreport.com/beginning_investors.htm
http://find-your-local-coin-shop.com/
Sincerely,
Jason Hommel
silverstockreport.com
miningpedia.com
Thank you! > Man I have found so many great boards on IHUB lately , I must admit RB and Yahoo dont come close to the offerings and DD inf that is on IHUB , great job - Thank you for the info.
Check this out > From IHUB FAT CATS Board RE: DLAV
http://investorshub.advfn.com/boards/read_msg.asp?message_id=27622107
DLAV Effective Float and Volume History
8 day average volume = 13,500,056
Estimated Effective Float (EF) - 114,370,421
Estimated Real Float (RF) - 185,051,342 to 319,632,214 (see below)
Base Support is estimated at 0.00147
($ calculations use closing PPS as the multiplier)
Date...........High......Low...Close.......Volume ..... Real Float... Est $ 03/12/2008 - 0.0018 - 0.0013 - 0.0015 21,581,612 - 185,051,342 - $32,372 - Wed03/11/2008 - 0.0017 - 0.0013 - 0.0016 20,279,770 - 198,257,202 - $32,448 - Tue03/10/2008 - 0.0018 - 0.0014 - 0.0014 16,526,110 - 214,469,262 - $23,137 - Mon03/07/2008 - 0.0020 - 0.0016 - 0.0017 2,715,041 - 307,951,063 - $4,616 - Fri03/06/2008 - 0.0020 - 0.0015 - 0.0017 19,081,918 - 310,577,199 - $32,439 - Thu03/05/2008 - 0.0023 - 0.0018 - 0.0020 7,312,122 - 298,375,883 - $14,624 - Wed03/04/2008 - 0.0021 - 0.0017 - 0.0020 7,841,004 - 319,632,214 - $15,682 - Tue03/03/2008 - 0.0025 - 0.0018 - 0.0019 12,662,870 - 314,235,044 - $24,059 - Mon------------------------------------------------------MAR Total Volume = 108,000,447 for 8 trading days for an estimated $179,377.00 Date...........High......Low...Close.......Volume ..... Real Float... Est $ 02/29/2008 - 0.0026 - 0.0019 - 0.0024 29,288,872 - 313,401,726 - $70,293 - Fri02/28/2008 - 0.0029 - 0.0019 - 0.0022 29,741,521 - 267,346,784 - $65,431 - Thu02/27/2008 - 0.0034 - 0.0021 - 0.0025 71,084,354 - 238,028,215 - $177,711 - Wed02/26/2008 - 0.0020 - 0.0017 - 0.0017 4,247,718 - 172,439,552 - $7,221 - Tue02/25/2008 - 0.0020 - 0.0014 - 0.0015 11,960,934 - 168,316,692 - $17,941 - Mon02/22/2008 - 0.0022 - 0.0017 - 0.0020 19,717,832 - 159,418,811 - $39,436 - Fri02/21/2008 - 0.0023 - 0.0020 - 0.0021 4,691,085 - 149,781,033 - $9,851 - Thu02/20/2008 - 0.0027 - 0.0020 - 0.0020 12,176,525 - 152,892,771 - $24,353 - Wed02/19/2008 - 0.0029 - 0.0024 - 0.0027 2,410,092 - 166,221,651 - $6,507 - Tue02/15/2008 - 0.0029 - 0.0019 - 0.0028 12,630,494 - 167,206,838 - $35,365 - Fri02/14/2008 - 0.0026 - 0.0017 - 0.0025 32,805,221 - 177,368,917 - $82,013 - Thu02/13/2008 - 0.0026 - 0.0023 - 0.0023 1,841,517 - 128,266,957 - $4,235 - Wed02/12/2008 - 0.0028 - 0.0023 - 0.0025 6,767,915 - 141,033,618 - $16,920 - Tue02/11/2008 - 0.0030 - 0.0023 - 0.0025 14,092,991 - 150,316,552 - $35,232 - Mon02/08/2008 - 0.0030 - 0.0026 - 0.0028 6,507,171 - 132,449,204 - $18,220 - Fri02/07/2008 - 0.0038 - 0.0028 - 0.0028 19,955,582 - 135,160,142 - $55,876 - Thu02/06/2008 - 0.0038 - 0.0034 - 0.0037 2,985,071 - 121,274,840 - $11,045 - Wed02/05/2008 - 0.0039 - 0.0032 - 0.0036 18,561,330 - 142,963,963 - $66,821 - Tue02/04/2008 - 0.0042 - 0.0035 - 0.0040 4,148,127 - 119,256,628 - $16,593 - Mon02/01/2008 - 0.0043 - 0.0032 - 0.0042 9,292,450 - 116,967,356 - $39,028 - Fri------------------------------------------------------FEB Total Volume = 314,906,802 for 20 trading days for an estimated $800,092.00 Date...........High......Low...Close.......Volume ..... Real Float... Est $ 01/31/2008 - 0.0038 - 0.0034 - 0.0034 12,185,660 - 109,717,909 - $41,431 - Thu01/30/2008 - 0.0040 - 0.0035 - 0.0040 3,665,174 - 125,164,137 - $14,661 - Wed01/29/2008 - 0.0038 - 0.0034 - 0.0038 8,089,340 - 169,508,221 - $30,739 - Tue01/28/2008 - 0.0034 - 0.0028 - 0.0034 11,851,783 - 232,581,125 - $40,296 - Mon01/25/2008 - 0.0040 - 0.0033 - 0.0034 15,643,369 - 263,675,262 - $53,187 - Fri01/24/2008 - 0.0035 - 0.0025 - 0.0034 4,725,155 - 257,575,853 - $16,066 - Thu01/23/2008 - 0.0029 - 0.0024 - 0.0028 2,812,052 - 282,583,079 - $7,874 - Wed01/22/2008 - 0.0028 - 0.0020 - 0.0027 5,061,497 - 285,943,996 - $13,666 - Tue01/18/2008 - 0.0040 - 0.0023 - 0.0027 21,200,453 - 293,987,472 - $57,241 - Fri01/17/2008 - 0.0049 - 0.0036 - 0.0036 29,545,456 - 285,352,840 - $106,364 - Thu01/16/2008 - 0.0047 - 0.0032 - 0.0034 44,900,215 - 240,332,681 - $152,661 - Wed01/15/2008 - 0.0038 - 0.0025 - 0.0037 29,999,075 - 192,812,807 - $110,997 - Tue01/14/2008 - 0.0026 - 0.0021 - 0.0025 12,083,606 - 157,350,134 - $30,209 - Mon01/11/2008 - 0.0033 - 0.0022 - 0.0024 19,319,978 - 149,005,506 - $46,368 - Fri01/10/2008 - 0.0031 - 0.0026 - 0.0028 4,773,565 - 159,430,582 - $13,366 - Thu01/09/2008 - 0.0035 - 0.0027 - 0.0027 9,755,864 - 157,685,370 - $26,341 - Wed01/08/2008 - 0.0040 - 0.0032 - 0.0035 16,161,073 - 161,491,689 - $56,564 - Tue01/07/2008 - 0.0042 - 0.0037 - 0.0037 3,270,600 - 148,997,559 - $12,101 - Mon01/04/2008 - 0.0042 - 0.0034 - 0.0036 17,166,465 - 146,214,807 - $61,799 - Fri01/03/2008 - 0.0045 - 0.0035 - 0.0042 9,302,200 - 145,645,997 - $39,069 - Thu01/02/2008 - 0.0046 - 0.0037 - 0.0038 7,213,479 - 158,693,937 - $27,411 - Wed------------------------------------------------------JAN Total Volume = 288,726,059 for 21 trading days for an estimated $958,411.00 ------------------------------------------------------For 2008 Total Volume = 711,633,308 for 49 trading days for an estimated $1,937,880.00
What is the full mailing address to Revenge shop? Can someone post the full mailing address or link me to it real easy like?
The PAL filings says NO , no production is currently hedged , but it has a disclaimer....
The Company does not, and does not intend to, hedge palladium production, thereby maximizing its exposure to palladium prices. As a result, management believes that investors in North American Palladium securities gain direct exposure to the palladium market.
However > You will also find this in PAL filings >
The Company's hedging activities or its decision not to hedge could expose it to losses.
From time to time, the Company may engage in hedging activities to manage its exposure related to currencies, interest rates and commodity prices. While hedging related to realized metal prices may protect the Company against low metal prices, it may also limit the price the Company can receive on hedged products. As a result, the Company may be prevented from realizing possible revenues in the event that the market price of a metal exceeds the price stated in a forward sale or call option contract. In addition, the Company may experience losses if a counterparty fails to purchase under a contract when the contract price exceeds the spot price of a commodity.
VERY interesting info , nice job Thank you. Can u run this screen on symbol = DLAV ?
All this dividend news has really tanked RVGD stock price , last 30 days it has slid down almost daily , last 5 days have been bad , It is clear the market agrees > AUTO SALES are high risk right now and coupled with the added dillution that will soon be underlying the O/S in restricted preferred shares makes for a high risk investment. IMO Watch out for the shorts, NAKED , OFFSHORE , OTHER > knowing in a year all these new shares will hit market makes for perfect situation to cover a short position , especially if someone has few large blocks of preferred restricted to "lend" out offshore..... IMPO
SGLS volume is very low? Maybe the April dividend date will attract some buyers? But for now the market is not showing any real interest in the upcoming dividend , todays total equity traded in SGLS was less then $225.00....
wow another nothing PR? I thought SH said he would PR only when a $$$ sale was made? Signing up a partner company to sell your product is all well and good , but it is NOT a sale? So now DLAV has itself, High Octane and International Auto all trying to sell webDA , How about a PR on SOMEONE ANYONE actually SELLING the system to a dealer!
I hate dillution , but if we can walk away with th worlds TOP producing mine up and running full out for 35 million more shares I can deal with it , I however have reduced my holdings in CDE at break even but will keep a core position in the common and I also still hold June call 5s , will hold for time being, they need to get the share structure worked out before I go large...
I like PAAS myself
I also have gone with the pure Silver Play > SLV > I have held some for while now , added some more this morning and will continue to add on weekness. SLV SILVER ETF is a super play , but when you have to deal with a mining companies operations working thru to a profit you add risk IMO
CDE is HOLD for now IMO
NEW VYEY PR SAYS THEY ARE GOING TO DRILL 40 DEEP WELLS WITHIN THE ACREAGE "VICTORY CONTROLS" >
I thought Jim Dial UERI controlled the acreage? VYEY now says they "control" a part of this lease?
There is spacing and offset analysis to drill 40 deep gas wells within the acreage that Victory controls.
Victory Energy Commits to Drill Deep Strawn and Ellenburger Natural Gas Wells in Same Field
Victory Energy Corporation (OTCBB: VYEY) announced today that it has committed to drill deep wells in the Strawn and Ellenburger natural gas zones in the Corporation's gas play, located in the Texas Permian Basin.
Victory has completed due-diligence for wells that were produced from deep gas zones, Strawn Limestone and the Ellenburger Dolomite. This is in the same gas field where the Corporation is currently drilling. The information from these wells allows Victory to engage in infield drilling of offset wells, greatly reducing risk involved. There is spacing and offset analysis to drill 40 deep gas wells within the acreage that Victory controls.
Two existing offset wells, which are producing out of these deeper gas zones, are producing approximately 2.5 million cubic feet of gas per day. At today's price, this equates to $25,050 revenue per day. These wells are located in the same trend that Victory has targeted for its deeper wells.
The Strawn Limestone gas zone will produce approximately 1.5 BCF and the Ellenburger Dolomite gas zone will produce approximately 5.0 BCF, over an average life span of 30 years. The Strawn zone is usually found at 9,000 to 9,800 feet, while the depth of the Ellenburger zone is between 10,500 and 11,500 feet.
"To reduce our risk, an offset well is drilled to the deepest gas zone, the Ellenburger Dolomite. This is the first of three zones to produce and deplete, followed in succession by the Strawn Limestone gas zone and Canyon Sandstone gas zone. Even though these wells are more expensive to drill, the payback from the production in these three commercial zones is tremendous," stated Jon Fullenkamp, President of Victory Energy Corporation
NEW VYEY PR SAYS THEY ARE GOING TO DRILL 40 DEEP WELLS WITHIN THE ACREAGE "VICTORY CONTROLS" >
There is spacing and offset analysis to drill 40 deep gas wells within the acreage that Victory controls.
Victory Energy Commits to Drill Deep Strawn and Ellenburger Natural Gas Wells in Same Field
Victory Energy Corporation (OTCBB: VYEY) announced today that it has committed to drill deep wells in the Strawn and Ellenburger natural gas zones in the Corporation's gas play, located in the Texas Permian Basin.
Victory has completed due-diligence for wells that were produced from deep gas zones, Strawn Limestone and the Ellenburger Dolomite. This is in the same gas field where the Corporation is currently drilling. The information from these wells allows Victory to engage in infield drilling of offset wells, greatly reducing risk involved. There is spacing and offset analysis to drill 40 deep gas wells within the acreage that Victory controls.
Two existing offset wells, which are producing out of these deeper gas zones, are producing approximately 2.5 million cubic feet of gas per day. At today's price, this equates to $25,050 revenue per day. These wells are located in the same trend that Victory has targeted for its deeper wells.
The Strawn Limestone gas zone will produce approximately 1.5 BCF and the Ellenburger Dolomite gas zone will produce approximately 5.0 BCF, over an average life span of 30 years. The Strawn zone is usually found at 9,000 to 9,800 feet, while the depth of the Ellenburger zone is between 10,500 and 11,500 feet.
"To reduce our risk, an offset well is drilled to the deepest gas zone, the Ellenburger Dolomite. This is the first of three zones to produce and deplete, followed in succession by the Strawn Limestone gas zone and Canyon Sandstone gas zone. Even though these wells are more expensive to drill, the payback from the production in these three commercial zones is tremendous," stated Jon Fullenkamp, President of Victory Energy Corporation
LOL how much cash do you think VYEY had on hand last filing>? enough said.....
That being said , it is quite possible that FTXN/JD is executing a very simple but effective PUMP and DUMP of VYEY shares this week , they will get back to FTXN pump dump downstream.... IMO
bingo.eom
BOO CDE Management > These guys are dillution crazy IMO.eom
Hurbert P got some as well.....
LOL u cant say w/o doubt u know how these wells are contracted out this week. CEO Jim Dial is swappin shells hidin assets IMO
bend over open wide CEO Jim Dial is giving lesson to his faithful shareholders
It appears FTXN SOLD ALL of the wells to VYEY > They VYEY are making cliams on 6 producing wells 11000+mcf, those are the wells FTXN made claim to , The issue is no one knows what FTXN does or does NOT own , CEO Jim Dial has been known to sell remove assets wo so much a PR > IMO it is a worthless empty shell , VYEY now holds the assets.... FTXN shareholders - you lose..
They are making claim to the 6 EXISTING PRODUCING FTXN wells. There first "new" well is not even online yet , or just got online , they are making claim to the remuda operating production we all post totals on.
IMO Jim Dial KNEW RReed , SEC and or Lawyers for GFCI stockholders were getting close to taking his wells , he had to move the asset from harms way and put it with VYEY under some half baked Jim Dial contractual BS, that for sure he could implode at will , again IMO - Jim Dial is playing games with these wells for sure. That is obvious , IMO he is doing it illegally for personal gain.
From its interest in six gas wells>??? what 6? The ones FTXN claims or is this 6 new ones? VYEY PR confusing?
Victory deposited its first revenue of approximately $63,500, pre-distribution, for natural gas sales of 11,960 MCF of natural gas production from its interest in six gas wells.
From its interest in six gas wells>??? what 6? The ones FTXN claims or is this 6 new ones? VYEY PR confusing?
Victory deposited its first revenue of approximately $63,500, pre-distribution, for natural gas sales of 11,960 MCF of natural gas production from its interest in six gas wells.
He knows something? IMO u need 2 follow the big money , they are selling .....
GL with that.eom
gotcha - GL withthat...eom
current sales trends say that is not so.....eom
Or some entity uses those new shares and hedges a short postion for 12 months , you would be suprised what can be done with large amount of restricted stock. ....