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Anyone, or yourself can put together a group and approach Drake and suggest to them to sell you a PP or do a 504 or 506 financing, I have suggested this several times, I can set this up through another company which is coming back up on the Pinks again, we can finance through this, if your interested and have others out there let me know.
Happy, as I said before I post here and the other fellow whom gives me the info gets all the blame, as he does not have an account with IHUB, but, what I have heard is this, Clayton tried to put together a 299 well program, was going to finance with selling all his family shares in the market through RRF, this did not happen, the shares got held up, funds did not come through and RRF became a non-complete, some call this a scam, others call it failing to get the job done. The I heard Peter was asked to come in and save the day, he spent many dollars of his own money, for what, everyone blames him for the past, needed money for the company, needed to get certain debts off the books, so from what I understand he decided to issue shares to debtors, issued shares for funds to re-work wells, rewrote the agreement with the lease holder and worked out the Myers Lease for the company to start with 10 wells and with ten wells up and running will the number of oil per month justify the issuance of shares (dilution)we have to wait and see. The volume we see today could be old shares negotiated from August last year through to November last year to finance, maybe, not sure shares just getting approved from the 144 rule, IMHO Edgar show six filings, does not show the number of shares only shows the dollar amount Drake wanted to raise $125,000 over these six filings, and again these filings do not explain if Drake got all the money or not, just shows the filing, does not explain the price either per share, so through all this filing it leaves one scratching there head, no info on number of shares, no info on price per share, only the amount per offering in the dollar amount Drake wanted to raise, does not explain if the funding was done or not. I asked this person, he said Peter told him he feels this could be construed as inside information and does not want to break any SEC laws. I am to understand from my contact Peter wants to build this company, it takes money, it takes time, it takes assets coming in, at the end of the building here we know for sure, somebody will have bragging rights.
To buy the company all you need is to put up a bid for 2 billion shares at .0001 $200,000 and its all yours.
The company should be ready to give us info on the number of barrels of oil in the tanks. Last time it was 80 BOO and with the time lapsed it should be in the hundred plus range, with SBRH starting to rework wells will give Drake an outlook to 30 to 60 wells producing from the two different leases, OH I forgot we were told the leases do not exist or do they?
The problem is and always will be is the buyers at .0002 give the stock back at .0003, the stock traded 75 million shares the other day at .0002 so there is going to be 75 million to go through at .0003 this is why the stock is always looking so terrible, it has nothing to do with the numbers of oil, press releases, it has to do with the Flippers in this market, simple.
As I mentioned before, lets put together the fine and upright gentlemen and Ladies and put our own 504 financing together and finance the deep wells this way the paper won't come blowing back into the market
Comes down to more oil for DKGR, two leases to be worked, fill the tanks and sell the oil , good for the balance sheet
You can add DKGR
Hey PP the numbers are out, first 26 barrels then 80 and then the next will be in the 100 barrels, just because you do not feel the company is truthful does not make it so, the news is out, it has been written, statements about the news releases are false we will all need you to prove they are false, otherwise it is taken Drake is moving into the 100's of barrels in the tanks and we all know that lies underneath are other pay zones, deeper drilling and money can solve that problem.
Putting together funds would be paid directly to the driller doing the work, doesn't even have to go through Drake treasury, many ways to work it out, Chris mentioned to me the "FOURTH SAND" might be the next zone, need to some DD on the PA Fourth Sand development and what kind of flow rates can be obtianed?
WOW, after reading all of this it makes one think, what is truth, it comes in all shapes and sizes, people swear in a court of law they will tell the truth, yet people don't believe they did, so where is the truth, as in the movie, "you can't handle the truth" should be the model here, the truth has been written, and the truth has been spoken, yet when one reads here on this board, the POPE could stand beside the wells at the Myers lease and declare the number of BOPD and there would still be comments the POPE did not make right jesters when he speaks, the TRUTH is, Drake sold shares in 504's, raised funds, now has been working on the production of ten wells on the Myers lease, 80 Barrels of oil has been collected in a tank, could be the tank is full now to make it one hundred, the oil will be collected in the next tank until it hits 100 barrels of oil and the goal is to have the full ten wells pumping oil everyday till there is no more. The oil will be sold and the money will be dispersed to the land owner and Drake, then Drake either uses those funds to go after more leases or hopefully drills each well deeper into new pay zones below, and it has been stated to Peter to look into this exact idea, go deeper, get new pay zones and increase production, simple, and it was suggested to Peter to see if the shareholders of Drake finance the drilling into new zones where we all throw $250 at it, say 500 of us that would be $100,000 to go after more production.
I see all the Flippers are bid for many shares, should be one full tank now with 100 barrels of oil ready to fill the next tank
Here is a statement from the Quarterly
Leases
The Company is in the process of purchasing, on a pro rata basis, joint venture interests in certain oil and gas
exploration and development projects. Payments for said purchases are made on a participatory basis and are
recorded at cost as made. Proceeds from these interests will be applied first to reimburse these investments with any unreimbursed investment amounts, if any, to be expensed at the conclusion of the respective term of each operation.
When read, are recorded at cost as made.this could be where original costs are recorded.
When anyone starts a brand new company going from private to public the original investors could have bought 10,000,000 shares at .0001 not saying they did, but they could have, a $1,000 investment.
No, they will have shares coming out of the deal with Parker and Peter mentioned this could be worth $100,000 when the Parker starts to trade, nothing about percentages of this or that, call him discuss it, get the DD instead of reading the six year history re-visited every second post.
Because like many of you who do not call the office and talk to Peter and get the facts, it is simple, DRAKE has (already) an investment in Parker, this investment I am told could be worth $100,000 to Drake the day Parker becomes public, the $360,000 you keep talking about is if DRAKE pursue the wells with Parker, has nothing to do with the initial investment DRAKE already paid into Parker. If the investment gives DKGR an cash flow of $100,000 they can purchase more of the leases going forward, DKGR is only on one lease right now, the Myers Lease, a ten well program, so to take on anything else would be adding leases to the deal, according to Peter all the documents we see on the web site have been renegotiated and the company is going Lease by Lease and the Myerers is the first one, if you do not believe call Peter and just ask, it is as simple as that.
We hould be close to 100 barrels of oil in one tank this week, ready to sell the oil and start more wells for production, Parker money when Parker becomes public will increase this also, add more leases to the one Myers lease we have now, maybe within this year Drake will have a full two leases going and filling the 100 Barrel tanks every month
OF Course you do, its your money, its your decision, yet I have to say "BUT" what does this do for the overall for the market itself, nothing.
That was my point, if people out there are so happy to take a $25 profit the stock will continue to trade this way, in at .0003 out at .0004 and laughing about it, the stock needs to be cleaned out where the flippy's are gone on the large purchases and then out again, once the stock gets into hands of more people with less amounts in each persons accounts then this can stop and go up accordingly
No, I buy and hold, I do not do the flippy flippy style just to make $25 dollars
Question is how fast are you going to give the shares back to the market
I wasn't thinking, I did not have a bid in at .0003 and most likely now I will pay higher for this, yet all the buyers at .0003 will flip it back out at .0004 I am sure of that.
Lets help each other, if each of us (the 501 bookmarks) puts in an order to buy $1,000 worth of stock that will be a WHOPPING $500,000 OF BUYING IN THE STOCK now this would help us all out.
ANYWAY, when all the .0006's disappear, then all of you will move your bids up to the .0006's level, just start taking them out now instead of having to bid there lATER.
Drake Gold Resources Inc. would like to wish a Merry Christmas and a happy, prosperous New Year to all of our stakeholders as well as their friends and families. We spoke with our operator, Chris, this morning and he wishes the best to all for the upcoming year. Chris will be updating us with a progress report within a short period of time. We have thanked him for all the hard work he has done over the last year and expect continued success through 2013 for all involved!
Thank you
Respectfully
Peter
MED, you forgot one thing, Drake has already invested in Parker and has an agreement they can invest more as you know when reading the agreement, that is why Drake is looking to Parker coming public they have a "invested" interest from before and more can be obtained.
If you take a look a the Portfolio page of Drake Gold the Myers Lease, it states there 12, two wells in operation, so if you get the next ten wells pumping oil Drake will have 12 wells producing oil, how much is the question, I say at 2 BOPD means 24 BOPD 720 BOPM
If someone sold, then someone bought, simple as that, it is even on buys amount and sell amounts
Drake is not unlike any other company that has an amount to pay to own something outright, we all do it, we finance the car, yet we still have the right to drive it, live in it, wash it, have S-- in it and yet the bank owns it till it is paid off, just like any other oil company who finances a well drills it, brings out the oil and pays the debt until Paid in full, so lets be straight here, the money goes toward the buy out, and the leases belong to DRAKE and Drake is working to have the Myers lease of 12 wells up and pumping, that's it boys and girls goiung toward 12 wells pumping at least 2 BOPD that works out to 24 BOPD and that works out to 720 BOPM that I hear is the goal, and I am one to believe they can do it, IMHO
DKGR lease has 26 barrels of oil in a tank, and that tank and that oil belongs to DRAKE, the Myers lease has a potential of the ten wells on it to produce oil, how many BOPD is the question, if each well produces 2 BOPD that is then 20 BOPD and 600 BOPM which is 6 tanks a month filled and then sold, and when Parker comes public there will be a value put on the investment DRAKE has IN PARKER ALREADY PAID FOR.
Time is now to get JV public companies to come in and finish of the balance of the 289 wells where DRAKE has an earned percentage retained and DRAKE needs to expand the company into other money making ventures to diversify.
Crowin, how could Drake have to clean up oil, it has been said here many times, there is no oil, how can you clean up something that has been told here does not exist, also There are currently a number of active wells that have been reworked and are being pumped, each producing varying amounts of oil. Weather permitting; the company will rework additional wells with similar expectations over the coming months, fill up those tanks Drake
because I know someone who saw the entire agreement signed by all parties, the debt no longer exists, therefore there is no conversion to shares, therefore there is no reason for Clayton to hang around, and he has said this himself, he told numerous people he is gone, no longer cares what happens to Drake
Who cares, Clayton is gone, his family has signed off and they do not control any debt into shares, Clayton no longer speaks about DKGR, so lets move on and let the new management continue to move forward, holding onto Clayton's stories will not change anything, we know he went through an investigation by the SEC and they gave him back everything he gave them and they most likely have moved forward, Peter has cleaned up the company, has brought the company through changes many here said would never happen, and they have happened, the company has two one hundred barrel oil tanks, need to fill them up many many times, IMHO
Just trying to find out how many days it will take to fill up the two one hundred barrel tanks, then we have a much bigger cash flow every time they empty them and then refill
At one barrel per day it will take 200 days to fill those two tanks, we need twelve barrels of oil per day then we only have to wait 17 days to fill the tanks, take the math from there, and by the way it may be the Illuminati which takes over DRAKE
For those who believe, at 6 wells producing 2 bbls a day, that is 360 BOPM at $80 times 360 equals $28,000 per month now if we move up to 20 wells the $500,000 can be paid off very quickly, and the Parker going public I have heard could bring in $150,000 into the treasury of Drake, IMO
It seems strange here that all this bidding at .0004 and the .0005 are basically the same value, most trades on this company are 500,000 or less, 500,000 at .0004 is $200 and at .0005 is $250 and many will miss just trying to save $50 if you are bidding for 20,000,000 it does make a difference the rest of you, come on, lets get going.
Again, what I see here is in and out of this deal, no real investors, just want a quick flip, then out and go on the bid at much lower prices hoping to do the same thing over and over, therefore no one here cares if there is production or not so why even ask the question. We all know what Clayton did to this company, now we wait for positive results, not news for flippers, news for investors who will wait on the production, if it is so easy to do then everyone would be doing this in their back yard, have their own TV reality show, the real world is not like this, Peter had to clean up the mess to move forward, now the company has potential, as it never had before.
We look forward in seeing all of you fellow investors over at DKGR, in your news release your company is going to go after oil, JV with Drake in PA, IMHO
Looks to me the SBHR is Mark's deal, the president of Mike The Pike Productions