Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Anyone know the name of that theory being that each person is only three people away from knowing anyone in the World?
Very, very true Jag!
Let's those of us who haven't lessened or ended our positions dump a millon or so shares so the price will fall back to say .05. That way those who jumped out can all get back in and we can go back to all being happy and hopeful!
Wait, I want you all who stayed to do this. Me, I am not drumping any of mine and intend to wait for results of testing to determine the potential value of this particular site.
and other leases
my understanding as well
Very, very well stated Ziasymbol! Good post.
OK, enough already! I don't play the casinos and thus I've already accepted the title of 'being a fool' for splitting queens'
A fool you say. Like I said I'm a gambler and my investment funds in energy are in MRO in at $38.39, CHK in at $27.10 and XOM in at $58.4. My shoot for the mooon money is here and in KING.
You are right I don't ever go to the casinos! So, I'll not get offended by the assertion of my being a fool for splitting queens.
Me too! I keep hearing more of a sloshing sound which has prompted me to continue buying over these last months. I just hope the packaging holds up as my dry powder has diminished significantly with this and my EDEX play.
We were told we'd have a Merry Christmas and as the day gets closer we are like little kids begging our parents to let us open the presents under the tree before Xmas eve!
Ditto!
I beg to differ Diobolo and I am NOT a basher in any shape or fashion. We won't know for certain whether it is a 'producer' until the continuing tests are completed. Yes, it showed significant enough results to go to the next stage and spend the additional money, but no results as to the degree of production have been established.
Now if I were playing blackjack holding this pair of queens and the dealer had a nine showing I'd either hold or double down. Since I'm a gambler I'd probably double down, but that is just me.
You read correctly Robin. We evidently showed findings enough to go to the next stage (which is good). Once we find out the degree of oil/gas found Tom will be able to eliminate the if's from his jargon.
I read it to say we found both. We just don't know how much. Whether it will be enough to be productive will be determined once the completion rig has done its work.
Yes, we evidently logged significant enough results to go to the next stage which is to bring in the completion rig. At this phase the casing will be perforated (exploding process) to allow product (oil or gas) to seep into the pipe at said depth and determine the degree of production.
Yes, it does indeed look good this morning.
Hey, I was just stating facts!
As was I. Plus, the rig was going to stay onsite and drill #2. However, what I'm not certain of is whether hitting #1 was to be the determining factor as to its staying onsite and if the financing somehow was based on the hit as well. I will have to go back and do some additional DD to determine this which I intend to do in the next few days. Some would say just call Tom, but I prefer the written rather than the spoken word.
I think we'll continue to see very eratic trading until we see the official results. I, like any others who sit back and wait thru these next hectic days may end up holding the bag. However, I don't intend to be faked or misdirected after waiting as long as I have for the Mesa to play out. I've had and continue to have the same faith in this area's possibilities as Tom and I'll give him the benefit before the doubt and see it thru.
Yes, I've voiced a negative opinion on his Texas plays and mostly because I felt these funds would have been better served being directed toward the 2nd drilling. I realize securing funds for a 2nd attempt will now be much more difficult if we fail on this attempt, but still worthy of attempting. In other words, I bought big on the dip to .05 after the first Texas failure and I might just be doing the same if we fail on this first attempt here in New Mexico.
Amen. Amen. Amen. Amen. Couldn't think of any better way to say I agree with all your points!
At the current rate of usage when Jag gets there the virgins will be no more. Used'em all up Jag, Sorry, sloppy thirds only!
Abbam, I must agree with you or I wouldn't be involved in any of his intersts. However, even I have made bad judgement calls, once that I can remember, and to blindly assume every decision he's made is correct because "he knows what he's doing", well, you've every right to your opinion and every other poster has the same. But, we've now seen the outcome of the two Texas drillings and the results are in and they are: He shouldn't have exposed the PIP viability and shareholders money to these plays prior to the Mesa. Yes, once again these are my opinions and you can assault them all you wish. If you can convince me and others that I'm wrong with something other than "he knows what he's doing" mine and others positions might be more comforting.
I agree he's in a tough spot. As to his staggering the drillings in this case I doubt he had any real control over this other than to not having gone in on the Texas play at all which I've long held this opinion. The concern of yours and others regarding the securing of leases on surrounding lands I am of the opinion he has enough secured already to make him and all of us a small fortune. Yes being able to control the surrounding area mignt be advantagous and greed is good, but it can also turn and bite you in the ass.
Just my opinion of course.
Jay
Very astute and right on assumption.
I'd imagine he did. I would say he found it difficult, no impossible to find anyone willing to buy on his Weeeeeee alone. It just wasn't this stocks time to roll. Technicals alone weren't enough.
I went and read your message of mention. You called it alright!
I agree and think we will not see the numbers some of us expected and thus my concerns on where the money will come from for Howard to pay Howard for the interest and principal due him from him his Capstone purchase.
Or, the dilution is necessary to cover the debt payment due to Howard.
Wow, this is the third board I've read messages in the last two days where comments of 'taking contracts out on' or such were mentioned in relation to CEO's. One can not say these boards aren't entertaining!
Neither did I. I've enough of my sister's dollars at risk! My money? No, I'm playing KING, MRO, WTI, and EMPR. Only so much money to go around.
Howdy Low, What a day! I watched from afar and my feelings ranged from anger to outright humor. We saw discussion of contracts on what I can only assume were on Tom's life to those questioning your motives.
I should probably preface my comments by saying in all honesty I am an honest man and this honesty has cost me many fortunes in my day. However, I couldn't help but think last week how easy it would be to pick up some really cheap shares of this stock by creating a panic here today or even yesterday by dropping a few hundred K shares for say .05 and then just sitting back and watching the panic. The previous two wells we drilled where we saw selling before a PR was released had many just waiting for such to happen and when it did all hell broke loose. I can't say what we will see today. However, what we saw yesterday was a mess. If nothing else it seperated the true 'Wildcatters' from the traders.
Thanks for the PM on your most recent find. I will continue to do a little DD and go from there.
GLTU and to me! Jay
Interesting thoughts Buy4fun! If you, me and all the others who have claimed to be longs and a strong upswing of new buyers don't start buying strongly these shorts have no reason to stop and they could very take it close to .0000. Just my opinion of course and some here have already voiced their dislike of said opinion, so think as you wish.
Interesting! You plan on doing any business with William Shatner?
I owned a Missouri Foxtrotter back in the early-mid seventies when I was experimenting with breeds in preparation for the Great American Horse Race (a race scheduled in 76 for the BiCentennial from upstate New York to Sacremento, California and I was truly taken with the gate and the endurance capabilities of the gaited horse.
In the late seventies I went into the breeding business of Quarters until the collapse of the market in 86. Yes, one could say it was because of the oil industry backslide or blame it on Regan for closing tax loopholes. I'm still thinking the both had an impact, but 'Black Monday' in 87 was responsible for the last few shovels of dirt on its grave. Just my opinion of course, but having lived and lost during this period I had a very large vested interest in the entire mess.
Today I ride Arabian geldings for endurance and occasionaly breed one of my mares to a top cutting stallion.
J
BB, in a message you posted recently you mentioned raising horses. What type pony do you raise? Please don't be offended by my calling them ponies.
Jay
Wright, you are being generous with your 3rd grade indication!
I still haven't firgured out why he (Tom) messed around with thise 5% plays going into his major Mesa play. All it did was open the door to speculation on PIP and thus the resulting dip we have going into Mesa.
Thanks for your input Docrew0.
Jay
Hell yes, front-end-loading is always the best play in town.
Isn't that why throw rugs were invented eons ago? So much easier to pick up a corner and sweep away.
Badge, I dont think for one minute a drilling co. employee/friend playing the stock market and buying into a company they will be drilling for is against any laws. I'm not a lawyer, but I've friends working for public traded companies, not in the board room or even officers who know or learn things that can/will effect the company stock movement. They've shared such info with me and I've made money off it. Nothing against the law there either.
I never should have brought such info to the forefront after the 1st miss in Texas and then again early this week. It has put a shaded view on the hands and this I never intended it to do.
jay
Hill, I've always wondered why Tom was even playing with these small plays. Made no real sense to me of course I haven't a clue what was going on behind closed doors.
jay
Hmm, good question.
Case in point I've a younger brother whose youngest son wants badly to enter into the sometime lucrative oil bus. Last month they each (my brother threw the money down for both) dropped $2700 for a 64th in a well (to see the bottom of the hole) in Western Kansas. This is how it is done. The hole was dry. I've another brother active in the day to day business in Central Kansas who new the speculator and didn't have any confidence in him so he and I stayed away. They lost all their money. If it had been a public traded company speculating on said well they could have bought in, as could the hands/family/friends when the stock price was low and sold on the interest movement upward prior to the final results and faired well on a hit or miss.
I first started buying EDEX after the 1st miss in West Texas @ .055 and if they, the hands had done similar they could have damn near tripled their money on a miss. Doesn't sound like that bad a deal to me. Especially if it had been a hit! And, how many of these folks does one surmise knew they would be drilling this well in late November last summer? My guess is a fair percentage.
Just my thoughts of course.
Jay