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He has een here a while and only recently became negative on GYST, he used to be pretty positive about the company.
It is only questionable to you because they did not hit expected production, no need to panic especially with Suriname about to get underway.
You dont think perhaps there is a reason why they are selling ?
how about we wait for the next production PR before we take them behind the wood shed and linch em....
It was an estimation. Not a 100% given fact they would produce that much. Hardly touting IMO especially since the equipment hasnt been in use that long.
Well it appears they were either way off in their estimations or they had a bad mining week, atleast we know they were being honest otherwise they would of greatly inflated that #
Yes asher is coming again, good news for us is we will soon not have to deal with Asher anymore, and the company will need no more outside financing. Some of their debt is getting paid off and it will pay off, not now, not in a month but if your looking 6 months down the road then there is light at the end of the table
ell we both got thrown out of elay haha what ya looking at now champ ?
You ever look into GYST ?
VGPR looks interesting, def looking for a new play since some funds cleared up.
Not saying it wont just saying LOI isnt realistic
ummmmmmmmmmm i am not arguing with you anymore about this. What they are proposing is not logical and WILL NOT HAPPEN. This would lose money for either CHK, BHP or SWIFT. Its simple as that. And these guys did not get to be big companies like they are by making dumb deals with little companies.
And also there is way more to investing in the oilfield than what i think you know. You can not invest 20K or even 50K into a lease or a well and expect a return over even 100K+.
And thanks V haha the name confused me a little i guess. They did look good for a 4 game stretch a week ago :)
yeah mineral rights,,,,,, that is what comes out of the ground in the form of oil/gas. So why would a company who already owns the lease and the rigs do that and then just give away the minerals ???
I mean seriously sit back and ask yourself. If you had gold in ur own back yard and someone came up to you and said hey i will give you 100 bucks if you go in your back yard and dig up this gold with you shovel and i get the gold thats worth a million dollars. Would you do that ????
Look i wont argue with you, you are simply wrong in your assumptions. I know every aspect of the oil/natural gas industry and never have i seen nor have i heard of such a stupid deal accuring. And i can tell you that CHK will def not do it.
Research is fine and dandy. Let me make this simple
CHK owns a lease, owns a rig already right. So they are going to have someone pay them to drill on their own lease with their own rig ? and then ASKE gets all the money from the oil/gas they recover from the ground ??? No dear trust me it dont work that way. In all my years in the oilfield i have never seen such a dumb deal occur. And i can tell you right now that CHK drills their own leases, they may lease out a drilling company like they are doing with Trinidad drilling to drill the well, but they dont nor have they ever been paid by someone to drill a well with their own rig on their own lease.
That my dear is not smart business and not something fortune 100 companies do.
OK this is even funnier.
So a little company like ASKE is going to have one of the 3 operating companies in mcmullen county Drill for ASKE on leases they ALREADY own and ASKE will get royalties.
WOW that will be the day LMAO
Think about it. CHK, BHP, Swift own all the leases in Mcmullen, and drill their own leases with their own rigs. haha i gotta stop this is just to much for me. If that was to happen then those 3 companies would lose money in every which way and they didnt become oilfield tycoons by doing dumb stuff like that.
ummm u must be late to the party, i work for chesapeake energy and work only 45 minutes from mcmullen county here in south texas. I have read the PR, and call BS on it TBH. Multi million dollar drilling/oil companies do not and will not sign a JV with a company who owns no kind of oilfield equipment what so ever. Ask yourself if it would make any sense !!!
This is simply not true. Look at ELAY if you want proof of that. It is something very common for the trips...
But on another note i checked out to see who holds leases in Mcmullen coutny. Only (3) drilling companies currenty drill in mcmullen county.
http://eaglefordshale.com/counties/mcmullen-county-tx/
¦Chesapeake is in partnership with the Chinese National Offshore Oil Company (CNOOC), where the companies target the shale oil window of the Eagle Ford across several counties. In McMullen, Chesapeake drills in the northern portion of the county where the formation is found at depths of more than 9,000 ft. The company then extends horizontal laterals that can reach an additional 6,000 ft.
¦Petrohawk has three active Eagle Ford Shale areas: Black Hawk, Hawkville, and Red Hawk. The eastern half of the Hawkville field expands into McMullen County. Petrohawks acreage falls between the Edwards Reef Trend and Sligo Reef Trend. Wells produce wet gas, so economics are driven by gas and ngl prices. Petrohawk expects its typical well will produce a type curve that yields 5 Bcf of gas and 207 Mbbl of NGLs.
¦Swift Energy was formerly focused on exploiting its assets that targeted the Olmos formation, but the company has shifted its drilling to the Eagle Ford.
http://www.swiftenergy.com/menus/OP-AWP.htm - as seen here swift energy holds only a small lease in Mcmullen and only intends to drill 10 wells in the area. No mention of a JV in South Texas, as they are only drilling 10 wells.
And to better help you understand why ASKE would most likely have to go through CHK for a lease in Mcmullen county here is a look at the total Acerage held in eagle ford by the only 3 active in Mcmullen.
http://seekingalpha.com/article/257877-major-players-in-the-eagle-ford-shale
CHK 600,000 acres
Petrohawk 225,000 acres
Swift 79,000 acres
Petrohawk has their own rigs and swift has their own rigs. Neither one hold as many leases as CHK and both drill for CHK from time to time. Especially since if u read the above article Petro only holds a SMALL amount of acerage in Mcmullen. It is all in writing you just have to read it.
Here is the only real wary part of his PR you should be worried about. Either this guy knows nothing about drilling/extracting oil/natural gas. Or he is living a fairy tale.
Let me break it down to you in a few simple steps.
1st - This is a lease, which means that the land owner is intitled to property damages for drilling there, and our mineral rights depending on if they were purchased offered when the land was purchased or even handed down from other generations. Which on average run around 60-100K for EACH PAD/well.
2nd - To prepare to drill before spudding in you are looking at around 200K for economical surveys, Geological surveys, Pad construction.
3rd - You factor in moving the rig/rigs to the lease. Which depending on distance of where they are coming from it can range from 50K to 300K
4th - You then have to lease the rig since ASKE owns no rigs, the company would have to pay the rig a comission fee on top of pay for the rig daily drilling fees. Which a rig on average drills 14 days or in better terms a depth of 15,000Ft. The total cost of Drilling (1) well by the time you factor in 1 thru 4 will be around 7-10 million dollars.
This dont include the fees for extracting the fuel, CNG (Natural gas) and or if fracking is indeed needed. our include cementing and setting up a pump to extract the fuel long after the well is drilled. And the containers to seperate the water from the oil/natural gas. Those are generally the 2 or 3 big tanks you see sitting on previously drilled pads.
So his statment about investing less than half a million dollars is far beyond reality. If indeed it was that then nearly anyone with descent credit could start an oil company.
This is for all those who are curious about financing
haha no it really dont my friend, especially when you have to pay for a rig to drill and pay all their daily drilling fees. They could possibly get 7-8 wells drilled with 40 million dollars. Assuming they have NO mess ups or any other expenses that is what 40 million will get you MAX is 7-8 wells, and then with having to Lease a Rig u will only be able to drill about 4-5 wells max.
And this is not even covering the well site construction, moving the rig to the lease, moving the rig off the lease, fracking if required, cementing/sealing in the well, Setting up production tanks to extract the oil/natural gas, along with the pump needed which each one alone for each well runs you a million plus. And then the system to seperate the water from the oil and gas.
Wow you should really know about drilling before assuming 40 million will be enough to do much especially with all the factors involved. NOW IF ASKE owned its own rigs then 40 million could go a lot further, but they dont. And to buy one decent drilling rig to drill for gas or oil you are looking at 10-20 million.
This is not speculation it is facts.
thats exactly my point you think these companies became oil and natural gas big boys by sharing or handing out JV and access to their minerals ? I have been in the oilfield along time and worked with some very big companies, CHK, Shell Valero and that is not how they operate. You'll see.
Last post here for a while BUT your LOI will never turn into anything more than a LOI. You know why ? Because these companies dont need help from a company who owns no rigs, no equipment and no leases. And i can promise you ASKE is no where near the class of chesapeake and Exxon and they sure dont need any help from a Pink sheet company who would need investors to invest everything they would need to do.
Not to mention the guy stated that the total cost of the investment would be under half a million dollars. As i stated a few days ago to drill one single well it is well into the millions. Go find my post it was on the 15th. And i promise you i know all about drilling and the costs, hell it is what we do here.
But good luck anyways !
oil and water haulers, pipeline companies, BOP repair, those are hardly J/V companies, which is mostly what all those companies u listed below do.
2nd largest of natural gas and 11th of oil
???????????????????????????????????????????????????????????????Chesapeake Energy Corporation is the second-largest producer of natural gas, the 11th largest producer of oil and natural gas liquids and the most active driller of new wells in the U.S. Headquartered in Oklahoma City, the company's operations are focused on discovering and developing unconventional natural gas and oil fields onshore in the U.S. Chesapeake owns leading positions in the Eagle Ford, Utica, Granite Wash, Cleveland, Tonkawa, Mississippi Lime and Niobrara unconventional liquids plays and in the Marcellus, Haynesville/Bossier and Barnett unconventional natural gas shale plays. The company also owns substantial marketing and oilfield services businesses through its subsidiaries Chesapeake Energy Marketing, Inc. and Chesapeake Oilfield Services, L.L.C.?
?????Top News
Chesapeake Energy Corporation Announces the Expiration and Final Results of Its Cash Tender Offers
Chesapeake Energy Corporation Declares Quarterly Common and Preferred Stock Dividends
Chesapeake Energy Corporation Announces 2013 First Quarter Operational Update and Financial Results Release Date and Conference Call Information
Chesapeake Energy Corporation Announces Early Tender Results and Early Settlement for Its Cash Tender Offers
Chesapeake Energy Corporation Establishes Office of Chairman
http://www.chk.com/Pages/default.aspx
right there on the front page.
?????????????????????????
LMAO i dont have to prove anything to you or anybody there buddy. Tell ya what though send me an email and i will gladly reply with my CHK email haha
And no Chesapeake is not a private Company, it is a publicly traded company on the NYSE and is trading at 18.80$ right now
AND i said that there are others drilling in the area, such as exxon, chevron hell even a few xto rigs. BUT all these comapnies have their own rigs and billions of dollars. They do not need a JV with a little rinky dink company when they will do it theirselves.
Anything else you want to deny to make your money invested in ASKE feel better ?
I work for Chesapeake have for the last 5 years, i was here in south texas when they purchased the leases and have been here every sense. Proof ? Go do a little DD on chesapeake, not that hard. They are a fortune 100 Company.
Here this may help.
Let me explain this to you simply. I right now am only 45 minutes away from where they claim this 40 acre lease to be. Which is just west of Tilden TX. Chesapeake Energy a fortune 100 company which i work for has all available leases in that area. We have been here for 3 years drilling the area. Chesapeake alone has over 35 Rigs in the area which they all own and operate themselves. Why would a billion dollar company like Chesapeake need or have any desire to form a JV with a company who owns no rigs, no work over rigs, no fracking equipment, no Oil field service trucks.
Here is what Chesapeake owns that elimantes any third party companies
They own
Hodges Trucking - Moves the oild Rigs
Nomac and Trinidad Drilling Rigs - over 200 total
Performance Technology - Fracking crews and trucks
Oil Field Trucking Solutions - Oil and Water haulers
Great Plains - Equipment used to help with fracking and rig operations.
Midstates - Oil Field supplies
http://www.chesapeake.com/Pages/index.html
http://eaglefordshale.com/companies/chesapeake-energy/
http://eaglefordshale.com/tag/chesapeake/
http://www.bloomberg.com/news/2013-03-25/eagle-ford-january-crude-output-rises-50-to-fan-texas-oil-boom.html
Oh make no doubt that if a oil company did get the chance to drill down here in or around Mcmullen county that they would make a lot of money. Only problem is that Chesapeake has this whole area wrapped up, they do have outside companies drilling some of their leases, but theses outside companies are multi billion dollar companies just like Chesapeake. You wont see any outside little ma and pop companies in this area. You think these fortune 100 companies need any help or have the desire of a JV with any unknown companies ? The companies here are the likes of Chesapeake, Exxon, Chevron etc....
Well then dont invest if you arent confident. I on the other hand am more confident in this gold penny stock than many of the others out there putting out gigantic news and trading in the trips. I guess we will see soon enough !
Sorry man but u cant build a stadium with no material, you cant go fishing with no hook and bait and you cant drive a car without gas. Cannot mine without equipment which is what last year was all about ! This is the production year, next years 10K will be much much better.
atleast they mined any gold, that one week of production is a small thing in the big scheme of things.
NOOOO way its bull, look at the source at the bottom. Def legit :)
Thats my free 15 for the day, catch you all tomorrow !
well they wll get there IMO. Hell i have given this company this long whats another year haha. Atleast they have projects going and starting up. It can only get better IMO
Asher conversions.
i honestly expected that, they spent all kinds of money on new equipment and on the Suriname JV. If anyone thought it was going to be pretty they were dreaming.
BUT this will be the production/profit year unlike last year which was the preperation/buy equipment year.
everytime these damn promoters come around the PPS drops like this, i cant wait until asher is finally once and for all done. until then we arent moving up very much if at all.
haha i dunno maybe at the bottom it says the source, ask them !
And u are going to question some spelling and grammer errors with all the BS this company has put out.....haha
BUT no man it is not a real PR, i was just showing you an example of how they could atleast make their PRs look half way legit without even really trying. Please tell me noone/you believes yesterdays PR ?
haha if the guy was smart he would hire someone like me to write his press releases. I could get this stock up to .01 with as many gulible people as i see chasing this.
Hell actually for amusment i am going to write one up here in a bit and make it look like its from ASKE (just for fun) and i will show you all how a real oil company should sound. of course some on here might actaully believe it is from ASKE and then i will just help these scums take more peoples money.
and i agree, but to climb out of all this deby they have created over the last 2 years they will need to hit bigger numbers in Suriname IMO. Well all want in the high pennies and i think we can get there but we need MORE !
i know squat about ASKE, send me his contact info and i will send him a little something.
Hmmm guess i could just look in one of the press releases.
so we are looking at averaging 400 grams per month there, hopefully suriname can pick it up and triple, quadrople that number.
i know, this happened the first round right before Asher was about to dump. But we usually get news when these guys show up as well.
a free memeber so cant reply, but i dont mind sharing my knoweldge of the oil and gas business with other and hopefully it helps investors save not lose money. Hell i am only 28 but i have been in the oilfield for quite a while, always glad to help :).
And yes Astros are struggling in the AL, but the texans are looking to have a damn good season !
well we can expect news today it seems. FML some of them are back