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Beer30......I've been in and continue to accumulate on dips since last June, now hold tightly 5MM+ and very happy.
USC
MrDale
Depends on the size of your balls, the size of the vise, and finally your capacity for pain.
JMHO
USC Cowboy
in for 5+million
There is another Cowboy saying
stuff my wallet!
USC
Club......luck has nothing to do with it. If someone is here and invested based upon luck they deserve to lose their investment capital. Investment is just that, parting with capital based upon measured risk and potential return, not luck!
No one does it perfectly, we can only plan on being successful a majority of the time.
I had to cough up six figures in tax liability last year,so I must be doing something correctly.
Trade well and often all.
USC
Thanks ART2, read your PM,
I can't understand why someone spends so much time in posting negative things if they are'nt bashing down. Time is valuable, if you use it negatively you never get it back, nobody credits time to your life span.
Invest time, do good and solid DD, if you have differences in opinion with mangement simply sell and move on, don't stay around and sow poisoned oats.
JHMO
USC
What is in your comment...reread, I watching. My time is valuable, is yours?
USC
The value of this board is in the DD, constructive discussions, etc. As a long and not in a position to sit all day in front of a monitor, my time to read posts is limited.
A very large percentage of the posts are nonsensical bantering between legitimate investors and the basher, naysayer scum that floats in with the tide.
Sadly, I find the nonsense and distraction comments have reached a level wherein I cannot waste my time sifting through the crap to get to some kernel of importance related to my sizeable investment (3MM share position).
It saddens me that a board such as this has fallen victim to the destructive plans set forth by the evildoers, and it can be simply cleaned up by not responding to the cruds.
I will watch a while longer to see whether or not the board moderator and the posting members self-police before I make my final jdgement.
The choice is in the hands of the membership.
USC Cowboy
At .022 simply a steal IMO
USC
Hello Lofter longs....added another 550,000 today @.022...what a bargain! Let's strap ourselves in for the liftoff.
USC
Simply water torture....drip, drip, drip, drip,drip, drip, drip, drip,drip, drip, drip, drip,drip, drip, drip, drip,drip, drip, drip, drip, enough already.
USC
Simply water torture....drip, drip, drip, drip,drip, drip, drip, drip,drip, drip, drip, drip,drip, drip, drip, drip,drip, drip, drip, drip, enough already.
USC
Anyone else getting the feeling that the lid is about to come off the pot?
USC
Makes sense ...consider the geo-political issues, and we know that Consultech and Dennis have ambitions in that area, it is not uncommon for large prime contractors such as those about to get large contracts (Consultech etal) for rebuilding the gulf-coast to be involved with the US positions and interests in other parts of the world, such as rebuilding of Liberian economy through the UN.
Just a thought
USC Cowboy
I think it's disgusting to watch a stock like AMEP two days ago @.065 move to .10+ today when you compare the assets and potential of PBLS just wallowing in its own juices.
Come on PA get your dodo together!
JMHO
USC Cowboy
RRUFFF...I don't post very often but there are some here that will recognize my alias, I hold large positions in companys like this one and do work for a living without the ability to constantly monitor a stock.
I was about ready to jettison this board as it has become just a bunch of nonsense posts that don't merit my time to read.
Thank you for coming forward to assist, and you have my support in tightening the content of this board, I will stick around for a while longer to see whether or not the quality of this board improves. Hope it does...
Trade well and often....
USC Cowboy
Long n Strong
ASUS......I need to email you, please advise by PM.
USC Cowboy
What's with the no confessions since 4/3/06. I know I have sinned, I want a profit.
USC
P&A = plugged and abandoned
USC
OT: Re: Conflict
ASUS/MASTERCRAFT//MASTERCRAFT/ASUS
I am hoping for all to get their acts together and remember why we are all here. There is simply too much talent and expertise here to have it blow away in the wind.
If it does we all lose.
Please reconsider, take the high road, be up front, truthful, state your case, put out the peace offering, even if you believe you are the grieved party here, you are bigger individuals than this situation.
This is from the ol' Cowboy, speaking from his heart and gut.
Stay with the program, those on the board need all of us to be watchful of evil doers that come to the board and we need to be united in our discussions, defense of PBLS, management and investment principles.
The bashers and evil doers win if we don't.
USC Cowboy
I for one would like to hear from Asus as to the existence of some plan and if there was such a plan come clean and give the details, and get this out in the open.
If there is/was a plan that favored a few at the expense of the others then it needs to be divulged and expunged from this board.
To do anything less is surely the death knell of this board.
I have a lot invested in this stock and I have invested many hours in support of it and the fine assemblage of due diligence.
This is the time for confessions, and no I won't go to Rover_az confession board to hear it or give it.
Games played here stay here and we will fix the problem.
I guess the next step is in Asus's control. What will it be?
I await.
USC Cowboy
me too
USC
Dedicated and stubborn! LOL
Let's put megacash in our pockets for those 'Sunset' years.
USC
Wow! You guys got me on a roll!...In the past there has always been some conjecture as to what constitutes a "Long". I can only speak for myself and would welcome any voluntary statements other "Longs" would contribute to the cause.
For me, "Long" means buying in for an extended period of time, not betting on the decline of the stock but the appreciation of the pps over time. Also, very important to me is the holding period that exceeds one year so that I can qualify for favorable tax treatment.
As a "Long", I continue to $cost average whenever possible buying on dips, but I also will add shares at higher pps when I'm convinced after doing my DD that the current pps is still a bargain. When I do sell, it is into a rising pps and selling only those shares that qualify as long term for tax purposes in small blocks as to not crater the momentum and drive down the pps.
It is never about greed, desperation or panic, it is always about money management.
JMHCowboyO
USC Cowboy
Long n Strong
I find this interesting...all the inferences of how the "original longs" have bowed out of here. There are many of us still here, I for one have sold no shares since my entry in June05 and have consistently acquired more shares at dips to bring my totals up to 5MM shares.
Many of us are just tired of the new cry babaies that come through the revolving doors and won't post or post infrequently due to the repetitive and mundane rehashing of every little detail.
When we have asked that the new board visitors do there own DD even after we digest everything for them and assemble the DD on one central location, they still keep asking the same ol crap.
They appear to not want to know but only to disrupt. It is for this reason the board has become much more quiet. Of course, let me say this is just my observation and opinion lest anyone interpret this to be bashing, pumping, pimping, humping or whatever injustice I may have been perceived to dispense onto the fragile masses.
JMHO
USC Cowboy lurking with many of my old friends from last summer.
My message is a simple one....as investors we are obligated to only put our money on the line to invest in a company. When we are unhappy with the direction a company is going we sell and remove our money from the company.
We have been fortunate to date in that PBLS management has granted us access to them and to their operations, even when the senior PBLS management is not present to monitor and control.
This access is unique in my opinion and to do end runs on the management will only make them less interested in working with us rather than against us.
Their decision to be 'quiet' may be disconcerting to us investors, but you must realize that they have been told by their legal counsel to zip it up. We do not know all the reasons, and until we are given positions within the company or appointed to the board of directors, it simply is none of our business.
They will tell all of us what they want, when they want, as they are the ones responsible for the direction and management of the corporation. Our task at hand is to be supportive and patient as they unfold the growth of this business entity.
Let's be professional above all.
USC
Peorge...I am the 'other' cowboy, USC Cowboy, not the prior moderator.
USC Cowboy
Peorge & Chilar.....since when did we not go through management at PBLS when we have ideas regarding the publicizing the company.
We should respect that PA and the board have the responsibility for publicity not this board or anyone else. If I were Paul I would be a bit peeved with anyone that presumed to be speaking for me. We need to be supportive and work through management and not around them.
I recommend we work through Paul.
JMHO
USC
Nothing to confess but stopped by to give kudos.
USC
Tedwitt...don't forget the relative cost to drill..$50k v $2MM, and the associated risk of absorbing a dryhole should the drilling come up empty.
The big wells are flashy and sexy but the higher # of wells to spread risk over is more attractive in my opinion.
USC
Here's a repost from my February 15, 2006 RB post......
Howdyyyyy Pardners….I’ve spoken with some of my counterparts in the oil and gas industry that are currently working in KY and TN. Here is some info regarding the typical oil well operations.
Even though we have not heard any recent drilling info from the company, my discussions with my oil n gas buddies from 20 years ago when I was involved with drilling up an area in Warren County near Richardsville (we hit 15 out of 16 there on a small farm) indicate two more wells were successfully drilled and two more locations identified and being surveyed and permitted with drilling to commence next week. It would be nice to get official word from PBLS management
A typical Knox Formation 1500 foot well in ADAIR County will cost you $50,000 to drill, complete, install pumping unit, electrification, piping and tankage. This is average for a lease with multiple wells on 5 acre spacing.
A typical well will produce over its 10 year life 25,000 barrels of recoverable oil. The oil is high quality and is 40+ API degree, Brent and Saudi oil is around 35 API degree rated. The higher the API degree number the better.
Typical oil production rates are 50% of the estimated lifetime production in the first 18 months, then the balance over the remaining life, or 8.5 years.
Typical monthly costs to operate a well (includes pumper costs, electricity, normal maintenance and pulling costs, is $500 per well per month or $6,000 per year. So a lease with 10 wells spaced over the surface area on 5 acre spacing would have a yearly operating cost of $60,000.
There is a waiting period to hire a drilling rig so there is a queue, if you order a drilling rig to be built for you there is a waiting list of 12-24 months.
Several companies have approached local drilling companies in regards to buying them out.
Tennessee wells have recently been drilled 700 –2,000 feet deep with successful oil finds with initial production rates of 140-250 Barrels per day. The geology in Tennessee is more complex than Kentucky and one expects more dry holes, Kentucky drilling success rate is about 60%. I wonder when we start drilling up our leaseholds in Tennessee?
PEBBLERS….Ponder this information and play with the numbers, especially true to compare with the “Production Lending” oil &gas lesson I posted on PNEW’s adelphia.net site.
[Cowboy singing…] “we’re in the money, we’re in the money…..”
USC Cowboy
Long n Strong (as usual)
Don’t Blink!
Tedwitt...what's your question or inference?
While we are bobbing about on the high seas, somewhat trapped by the PR doldrums and awaiting a moderate to strong trade wind to carry us to riches, I would like to share a little general knowledge about wells, drilling, well maintenance and some of the less sexy day-to-day work necessary in the oil patch to make a profit.
As a preamble to this, the information shared here is general in nature and any resemblance to a specific well or lease is purely coincidental. This reflects my own personal knowledge and opinions, and that each individual is responsible for there own research, confirmations, due diligence and portfolio strategies.
In the process of drilling a new well, the process itself damages the naturally occurring rock formations, as the drill bit rotates and crushes the rock as it advances large amounts of granular and dust-like material is produced (called “cuttings”). To keep the drill bit from getting stuck in the hole the cuttings must be removed by use of some medium to carry it out of the hole (called “circulation”). The medium used to create circulation is in some instances is a thick, viscous liquid (called “mud”) used in deeper wells or in the case of the shallower wells drilled compressed air.
Mud or compressed air is circulated under pressure during the drilling process to control the removal of the cuttings, to cool the drill bit, and to control the naturally occurring back pressures encountered in the rock formations being drilled. The mud or compressed air is pumped down the drill string, out of the drill bit through nozzles that are designed to clear the drilling teeth or surfaces of accumulated cuttings, carrying them up to the surface under pressure in the space between the drill pipe outside diameter and the well bore wall created as we drilled through the rock formation.
The drill string, consisting of lengths of drill pipe (called “joints”) with a drilling bit fitted on the bottom is advance forward during the drilling process through the well head assembly that generally incorporates a mechanical device that encompasses the drill pipe and seals the outside diameter so that pressures can be maintained in the circulation procedure. This mechanical device is called a “blowout” preventer.
The blowout preventer will actuate upon any circumstance that could occur if or when a sudden change in pressure is encountered in the circulation system. This actuation causes the drill pipe to grasped by mechanical jaws and held in place so that the drill pipe is not pushed up out of the ground like a long slender bullet out of a rifle bore or for oil, gas, water, etc that is in the wellbore to shoot out of the ground and damage the well, the environment, the drill rig and drilling crew. The pressures encountered can be thousands of pounds per square inch, with huge volumes of material energized by this high pressure.
All of this mechanical rotation (drilling process), circulation, mother nature adds up to a possibly dangerous environment requiring close attention to safety procedures. So when you are near the drilling rig, the driller will command the scene just like a captain will command all that goes on while aboard a ship. Any no drilling personnel should remain at a safe distance for the circumstances and approach the rig only when beckoned, a good ‘rule of thumb’ is to keep the driller or other drilling crewmember between you and the action you are there to witness.
As a point for illustration purposes, consider a situation wherein mud is being circulated at and a ‘pin hole’ develops in the flexible hoses used to connect to the drilling head assembly, this ‘pin hole’ leak at 2,000 psi can cut through your arm instantaneously, whistle clean just as if a Samurai took it off with a Katana (Samurai Sword).
Observer beware….follow the rules!
Back to drilling, the presence of this high-pressure circulation medium against the wellbore causes the dust-like material generated by the drilling process to be forced into the cracks, fissures and pockets (called “vugs”) that naturally occur in the rock formation. These cracks, fissures and vugs are necessary to allow the accumulation and transport of the hydrocarbons, water and gas we encounter. This is where the produced products of the well come from, not to break your bubble but there is no chamber filled with stuff like sticking a straw into a soda cup with a lid on it.
You can now see how we damage the well bore just by drilling it, but don’t despair, we have ways to mitigate the damage, perhaps not 100% effective but none the less, effective in bringing back the well bore production efficiencies.
Damage caused by drilling is addressed by using acid treatments wherein the dust-like stuff is simply dissolved by the acid and then washed out of the wellbore, or possibly by using explosive fracture techniques using high pressure air shocks, or used of a fracture inducing liquid, or mechanical devices to ‘shoot’ into the rock. All of these procedures are done to simply mitigate drilling damage and to increase the productive capacity of a well.
In the case of a well that has been on line for some period of time (each well and its environment will display specific characteristics indicating that damage has occurred by simply producing the well) treatments are routinely done to stimulate production and to enhance the economics of a particular well. These costs and economics for each well are monitored and schedules for routine treatment are put into place as normal business procedures.
In addition, a well may have an equipment failure, the down hole pump, pumping unit, prime mover, surface lines, etc that require the ‘shutting in’ of a well to perform work to correct the problem. That is why one sees ‘work-over’ rigs on leases frequently.
The job of the production superintendent is to monitor production and to schedule work-over and repairs necessary to a well-run lease, and all of this is to increase profitability.
Hope this helps in understanding why not every well is pumping at any one time, and to create a better understanding of the work that is in front of our guys and gals at PBLS.
Why not let them do their work, in an efficient manner, and let them grow OUR company, without the distractions of unsympathetic and overly nervous shareholders. Let’s do our jobs as efficiently as they do theirs, and realize that our job is to decide whether or not to put our capital into their budgets to create OUR wealth.
Do it or don’t do it! Make your personal decision and then take personal responsibility for that decision, don’t chew on your management and fellow shareholders. If your temperament is not conducive to this type of investment, sell, and put your capital into muni-bonds or high pps dividend paying stocks.
This really is quite simple, assume higher risk and make higher profits.
JMHCowboyO
USC Cowboy
Thanx Paul
USC
VAB Cowboy, I cannot PM you on this site, I am not a paid member. Please send me your direct email in a PM to me, I have something I would like to share with you, it is warm and comforting at these times.
I am sorry to hear of the loss of your beloved friend, I know very well the feeling, as I have laid to rest seven of my little friends.
See, I'm really just a softee, again my sympathy's to you and your family, and may God Bless all of our Little Friends.
Mike Heineke
aka: USC Cowboy
Steviej70...I'm looking at the pics and will provide to you at your email my captions to the ind pics soon, may want to wait to give to pnew
USC
Great article from "Governing" see Land Rush, speaks at lenght regarding new housing options, i.e., lofts
http://governing.com/articles/3houston.htm
USC Cowboy
Cutting Corners....it doesn't matter if you also mention PBLS in the post. I know that for a fact, ask Cowboy (moderator) to explain.
USC Cowboy
mastercraft..I couldn't have said it better, just a confirmation that some are more equal than others. That line came from some movie that I can't remember the title ....a senior oment.
USC
Inyx you've got to be kidding!
9000 shares and you're fretting? Many of us have many millions, and we're convinced of a powerful emergence as a major company and look forward to $$$$$$$ on sales exceeding $1.00 per sahre
USC
Mastercraft...no I have not been there.
USC