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I'm in....GLTA
Nice to see some volume here, Its getting thin...Really thin..Ugly thin
Hercules wi;; ride the 50 day north other than that...It will make a bull move North...Just my thoughts but I see no down side here, just pull backs along the way
Its not how much lower will this go...Its how much higher will this go.
I sold some at 2.97 and bought back with more at 2.53 today. Nice bounce off the 50 day...Going through it was no surprise...I miss those today below 2.50....I grabbed them at 2.53 when I got back...
Holding up nice here...
I also think wentworth gets more funds if YA converts. I believe it was 9.5 million more, but not sure of it since default
What YA does now is anybodies guess. I'm sure they know what is next and it sure would be nice for us to know... When you see those stocks turning @ 0.0001 that is sloppy work of people getting taken advantage of...Yet they floke to it. It seems this stopck is very controlled while this company works it way out from under debt. Progress is being made and I think the last 10q was positive
Here in the 10Q
(A) With respect to sales designated by “Sec. 4(2),” these shares were issued pursuant to the exemption from registration contained in to Section 4(2) of the Securities Act of 1933 as privately negotiated, isolated, non-recurring transactions not involving any public offer or solicitation. Each purchaser represented that such purchaser’s intention to acquire the shares for investment only and not with a view toward distribution. We requested our stock transfer agent to affix appropriate legends to the stock certificate issued to each purchaser and the transfer agent affixed the appropriate legends. Each purchaser was given adequate access to sufficient information about us to make an informed investment decision. None of the securities were sold through an underwriter and accordingly, there were no underwriting discounts or commissions involved.
http://taft.law.uc.edu/CCL/33Act/sec4.html
The conversion price is 0.001
The amount that can be converted. I believe is over $73 million @ a share price of 0.001...Over 50 billion shares...Don't worry about looking for an increase in the O/S and A/S.. these shares are exempt. You will most likely never see the increase and most likely will see an R/S.. Wash rinse and repeat till the debt is clear...Toxic finance.
So at today's price 0.0017 YA is still getting 70% profit off the shares he converted @ 0.001
There it is...I'll keep my thoughts to myself...but I think I have it nailed down pretty tight..My only question at this moment is...Where do we go from here?
Lets go see what it says
I was looking at that...0.0019...My guess is that was the wall of buys waiting this morning @ 0.0019...They ran through this to take the stock down and settle them eod. By the look of the short pressure on and off through the months..The spoon feeder hands were getting full..The only way to free up share right now is to take it down. I was kind of getting the feeling volume was going to increase to the downside. Over the last month..The spoon feeder was most likely forced into selling shares short around the 0.002 to 0.0025 range to keep this stock from running...I said it once and I'll say it again... If you buy into the news they will float your boat here...Clearly they have control and plans. I myself won't be buying anymore. The spoon feeder has an open ticket to sell and they can cover over 50 billion short with a conversion...So that makes the sell side unlimited
Look at the precentage drop on those markets and look at the precent drop here...Very big disconnect
The one good thing. This company didn't go BK...Its slowly restructuring its debt little by little and making progress. I hope the 10q reflects some of that progress and gives us a clear path showing North. Its time for a turn around fellows....Lets get it on
GLTA
Thanks for the update
The question is why.
Shorting at this price is just holding the stock down. The stock price is of no concern to YA at this point. I think those shares were to keep the pressure off...Some buying was coming in, and this stock was moving north. Drop a few shares down low, and everyone stops and takes a look..
GLTA..I hope the 10q brings something nice
Enjoyed the numbers on the 10q..Going long here, and buying the pull backs...GLTA
I figured that
Michael Pruitt, a long-time entrepreneur with a proven track record, possesses the expertise to evaluate potential investments, form key relationships and recognize a strong management team. Mr. Pruitt founded Avenel Financial Group, a boutique financial services firm concentrating on emerging technology company investments. The business succeeded immediately, and in order to grow Avenel Financial Group to its full potential and better represent the company's ongoing business model, he formed Avenel Ventures, an innovative technology investment and business development company. In the late 1980s, Mr. Pruitt owned Southern Cartridge, Inc., which he eventually sold to MicroMagnetic, Inc., where he continued working as Executive Vice President and a Board member until the company was sold to Carolina Ribbon in 1992. From 1992 to 1996, Mr. Pruitt worked in a trucking firm where he was instrumental in increasing revenues from $6 million to $30 million. The firm was sold in 1996 to Priority Freight Systems. Between 1997 and 2000, Mr. Pruitt assisted several public and private companies in raising capital, recruiting management and preparing companies to go public or be sold. He was the CEO and President of RCG Companies, Inc. (later changed to One Travel), a publicly traded holding company listed on the AMEX. Mr. Pruitt received a Bachelor of Arts degree from Coastal Carolina University in Conway, South Carolina, where he sits on the Board of Visitors of the Wall School of Business, the Coastal Education Foundation Board and the Athletic Committee of the Board of Trustees. He also sits on the Board of Chanticleer Holdings, Inc. (CCLR).
Its here
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=do6Jsn6BJGLEUbI9RcbVqQ%253d%253d&nt7=0
MIKE PRUITT since deflaut on the MA.
Just my thoughts
(Hooters Mike Pruitt)
Love Hooters
North American Energy
David G. Eller, Chairman and CEO - Mr. Eller has been Chairman and the Chief Executive Officer of NAE since its inception. During the past forty years, Mr. Eller has held various executive positions in a wide array of public and private companies. Mr. Eller was founder and chairman of publicly traded American National Petroleum Company. Mr. Eller has served two terms as Chairman of the Board of Regents of Texas A&M University System. He graduated in 1959 from Texas A&M University with dual bachelor's degrees in geological engineering and business administration. Mr. Eller has also attended the Stanford Graduate School of Business and the Harvard School of Business Administration.
(I'm thinking wrong company) Call Ross
NAER was incorporated in Nevada on August 22, 2006 as Mar Ked Mineral Exploration, Inc. and changed its name to North American Energy Resources
NAE was incorporated in Nevada on August 18, 2006 as Signature Energy, Inc. and changed its name to North American Exploration, Inc. on June 2, 2008
On July 28, 2008, the shareholders of NAE entered into a stock purchase agreement with NAER. NAER issued 420,000 restricted shares of its common stock to the shareholders of NAE in exchange for 100% of the issued and outstanding stock of NAE. Completion of the stock purchase agreement resulted in the shareholders of NAE having control of NAER. Accordingly, the transaction was recorded for accounting purposes as the acquisition of NAE by NAER with NAE as the acquirer (reverse acquisition). The financial statements of the Company prior to July 28, 2008 are those of NAE.
On July 28, 2008, the Company acquired 100% of the outstanding stock of NAE for 420,000 shares of our common stock pursuant to a Stock Purchase Agreement ("SPA"). Completion of the SPA resulted in the shareholders of NAE having control of NAEY.
The SPA provided that NAEY was to have $1,500,000 in cash and no liabilities at closing. At July 28, 2008, the closing date, NAEY had $150,000 of the required cash and on August 28, 2008, the parties to the SPA entered into a Modification Agreement ("MA") which provided an extension until January 27, 2009 for the additional cash to be contributed to the Company. At January 27, 2009, the Company had received an additional $50,000 and was still short $1,300,000 of the agreed amount. The MA provided that the Buyer would make contingent issuances of shares to the Seller equal to 95% of all the outstanding stock after issuance. Accordingly, effective April 30, 2009, an additional 13,250,381 shares were issued to the Sellers.
63% of our shareholders, either in person or by proxy, voted to approve a 1:50 reverse split of the Company's common stock.
became effective on April 27, 2009
The SPA provided that NAEY was to have $1,500,000 in cash and no liabilities at closing. At July 28, 2008, the closing date, NAEY had $150,000 of the required cash and on August 28, 2008, the parties to the SPA entered into a Modification Agreement ("MA") which provided an extension until January 27, 2009 for the additional cash to be contributed to the Company. At January 27, 2009, the Company had received an additional $50,000 and was still short $1,300,000 of the agreed amount. The MA provided that the Buyer would make contingent issuances of shares to the Seller equal to 95% of all the outstanding stock after issuance. Accordingly, effective April 30, 2009, an additional 13,250,381 shares were issued to the Sellers.
Looks like deflaut and NAE going public now...What is your thoughts
In the last two weeks I have seen the turn...Hiring has been on a steady rise. I'd hate to tell you what it looks like down here, but I'll say this.... you'll trip over a few jobs going to work...Grab anything coming out of Port Fourchon..it will turn to gold..Just my thoughts
Total Speculation
We closed above resistance today. Chart is very bullish...Very very bullish. He who drops the news on the right day draws the chart. OMG
We get a positive 10Q coming off a double bottom, with the stock changing direction going into a golden cross. How much more stuff do we need in the pot..To call this witches brew
GLTA
I agree..A drop with no volume. Is no drop at all. Simply chart painting. On the bright side. It plants a bottom at zero expense. Hopefully we head up from here. There are times when a stock swings from side to side its changing direction. With the upcoming 10Q..I think this stock just planted bottom and we have changed direction today....Strap on the helments pull back the handle and let this rocket fly...BRING ON THE 10Q
GLTA
I was starting to think I was alone..lol Everything I see tells me this is low float. I'm thinking anywhere from 5 to 15% floating.
Anywhere from 800k to 2.5 million in the public float. @ 0.015 Yeah right...Somethings not right. This company is sitting on assets and is making money to keep the lights on...with the lights off. Very low debt..Sweet share structure.
GLTY
Yeah things are starting to heat up down here....Its starting to look like things are fixing to bust loose. We are headed into a boom..Strap on the helmets
I agree fully, Nat Gas is turning...Many jobs to come from Nat Gas...It makes all the sense in the world. I can't add much info here, only speculation. Its a hard company to DD, cause the simple facts state, its what direction the herd is heading. The best bet is always run behind the herd. I feel there is a spoon feeder here who is more than happy selling stock between 0.002 and 0.003. Falling below 0.002 is to keep the pressure off.
LOOking good. Pull back looks complete, Nat Gas is rising....Sometimes you have to look through the forest to see the trees.
15-Jul-2010
Form 10-Q for ROYAL ENERGY RESOURCES, INC
During fiscal 2008, we prepaid $119,153 as estimated drilling and completion costs for a 25% working interest in three wells in Washington County, Oklahoma. Two of the wells began initial sales in November 2008. The third well was determined to not have commercially economic production and the related costs were expensed as an asset impairment at May 31, 2010. An additional net $36,700 has been advanced to participate in three additional workover prospects.
During February 2010, we issued 100,000 shares of our common stock, valued at $6,000, for the right of first refusal to acquire a 25% participation interest in the next 25 wells to be drilled by North American Energy Resources, Inc. in Washington County, Oklahoma.
Slow motion golden cross
Joined you guys here today...I live about 30 mins away from the Leeville field. Years ago I would pull my trawl for shrimp through those pipeline canals in Leeville. Aug and Sept was always nice in those canals. One of the biggest problems was pulling my trawl around all those well heads, pump stations and pipelines. I couldn't help myself but to invest. Next time I head to Fourchon I'll take a look around. I think Loop was asking for premits to build eight new oil tanks in the area.
GLTA
SPECIAL REPORT: THE GREAT SHALE GAS RUSH
Published October 17, 2010
http://news.nationalgeographic.com/news/2010/10/101022-energy-marcellus-shale-gas-science-technology-water/
GLTA
Perfect Storm brewing
Please do your own due diligence. All I have here is speculation and assumptions.
Low Float
17 million O/S
Quick falling resistance.
Set for break out
Increased Volume
From the last balance sheet
Apr 30, 2010 Apr 30, 2009 Nov 30, 2007
Capital Surplus 2,220 961 78
Total Current Liabilities 612k
Gold56 I'm sorry I implied you might be lying to us. I know deals take time, and I was just hitting you with a cheap shot..lol
I'd have to say the Natural Gas market is headed for a bull run at its launch with record pace. The 15 year bull run, was met with a serious correction. I believe Nat Gas bottomed abd the industry is turning. With that said the industry is at a turning point, and so is Wentworth Energy.
GLTA
BTW Nice buy at the eod. There was nothing there all day, unless they were filling your order
Someone lied to you, or you lied to us..Which is it? Lost all credibility
Holding longterm also. Still have some dry powder and watching for a dip, any sell off will be short lived I feel...Hero should see 4.50 around Feb if not before..Things are starting to heat up along the Gulf coast. Hercules will do just fine..GLTA
Latest 10Q
Acquisition
On July 28, 2008, the shareholders of NAE entered into a stock purchase agreement with NAER. NAER issued 420,000 restricted shares of its common stock to the shareholders of NAE in exchange for 100% of the issued and outstanding stock of NAE. Completion of the stock purchase agreement resulted in the shareholders of NAE having control of NAER. Accordingly, the transaction was recorded for accounting purposes as the acquisition of NAE by NAER with NAE as the acquirer (reverse acquisition). The financial statements of the Company prior to July 28, 2008 are those of NAE.
Business
NAE is an independent oil and natural gas company engaged in the acquisition, exploration and development of oil and natural gas properties and the production of oil and natural gas. The Company operates in the upstream segment of the oil and gas industry with activities, including the drilling, completion and operation of oil and gas wells in Oklahoma. The Company also has an interest in a pipeline in its area of operations which could be used for gathering its gas and the gas production of other producers. The Company's gas production has been shut-in due to low prices since February 2009.
(shut-in)
due to low prices since February 2009
Guess what is rising
Going concern
At July 31, 2010 and April 30, 2010 the Company had a working capital deficit of $511,040 and $344,785, respectively. The Company has an accumulated deficit of $2,674,702 which includes a loss of $164,077 during the three months ended July 31, 2010, which includes stock compensation in the amount of $123,879. The Company's note payable to a shareholder with a balance of $384,428 at July 31, 2010, was due May 1, 2010 and remains unpaid. The Company expects to extend the note or convert it to common stock.
The Company had relied on receiving an additional $1,300,000 from the prior shareholders to fund its planned drilling and development program. As discussed in Note 3, the prior shareholders defaulted on their agreement. Accordingly, the Company will plan to meet its capital requirements for the next year with private placements of its common stock or advances from related parties.
Very little debt
(As discussed in Note 3, the prior shareholders defaulted on their agreement.)
At a special meeting of shareholders held on April 23, 2009, 63% of our shareholders, either in person or by proxy, voted to approve a 1:50 reverse split of the Company's common stock. This amendment to the Company's Articles of Incorporation was filed with the Nevada Secretary of State and became effective on April 27, 2009.
63%
Would that meet only 37% of the 17 million is in the public float?
Very low float
CONTINGENT SHARES
On July 28, 2008, the Company acquired 100% of the outstanding stock of NAE for 420,000 shares of our common stock pursuant to a Stock Purchase Agreement ("SPA"). Completion of the SPA resulted in the shareholders of NAE having control of NAEY
Reverse Acquisition of North American Energy Resources, Inc.
(NAE gaining control}in 2008
The shareholders of NAER before the acquisition of NAE have agreed to contribute a total of $1,500,000 to NAER. Of this amount, $150,000 was contributed prior to July 31, 2008 and $50,000 was contributed in November 2008.
our plan of operation for the next twelve months is to obtain the committed funding from our shareholders of $1,350,000, continue to develop our existing leases and acquire additional leases.
Pursuant to the stock purchase agreement between NAER and the shareholders of NAE, the shareholders of NAER prior to the acquisition of NAE have agreed to contribute $1,500,000 for the working capital needs of NAER. As of October 31, 2008, the Company had received $150,000 from the shareholders. In November 2008, the Company received an additional $50,000.
The SPA provided that NAEY was to have $1,500,000 in cash and no liabilities at closing. At July 28, 2008, the closing date, NAEY had $150,000 of the required cash and on August 28, 2008, the parties to the SPA entered into a Modification Agreement ("MA") which provided an extension until January 27, 2009 for the additional cash to be contributed to the Company. At January 27, 2009, the Company had received an additional $50,000 and was still short $1,300,000 of the agreed amount. The MA provided that the Buyer would make contingent issuances of shares to the Seller equal to 95% of all the outstanding stock after issuance. Accordingly, effective April 30, 2009, an additional 13,250,381 shares were issued to the Sellers.
(deflaut on agreement)
The Company had relied on receiving an additional $1,300,000 from the prior shareholders to fund its planned drilling and development program. As discussed in Note 3, the prior shareholders decided to default on their agreement. Accordingly, the Company will plan to meet its capital requirements for the next year with private placements of its common stock or advances from related parties.
We received $119,830 in cash from the acquisition of NAE by NAEN during the six months ended October 31, 2008. As noted above, there will be no future shareholder contributions from the former shareholders of NAEN
The original shareholders of the Company had agreed to an equity investment of $1,500,000 as an incentive for North American Exploration, Inc. to be acquired by North American Energy Resources, Inc. in July 2008. As of March 31, 2009, the Company had received $200,000 of this amount. The Company received confirmation in early February 2009 that these shareholders had decided to default on their agreement, which has delayed the Company's plans for drilling and developing its acreage.
Do your own due diligence. Call Ross Silvey and ask him what the future looks like for the shareholders of North American Energy Resources. You'll be surprised by what you hear
I love this
The Company own's a 27,557-acre mineral block in east central Freestone County and west central Anderson County in the active East Texas Basin.
530 mcfd. Proven with another frac on the way. I do fully believe this company wouldn't be out fracing wells if there was no future.
Today's stock price even with the debt is a laughing matter
From the 10k
We currently have oil and gas interests in Anderson County, Freestone County, and Jones County, Texas.
Anderson County, Freestone County and Jones County, Texas
In July 2006, we purchased a 90% interest in the mineral rights, royalties and leases known as the P.D.C. Ball Property pertaining to the oil, gas and liquid hydrocarbons, excluding coal and lignite, covering 27,557 gross acres (22,682 net acres) in Anderson, Freestone and Jones Counties in East Texas for $22.7 million cash and 4.3 million shares of our common stock. In 2009, the property generated $52 thousand in royalties. We have been actively seeking industry partners to lease from us the remaining undeveloped parts of our properties. We have met and discussed this opportunity with a number of oil and gas companies.
we purchased a 90% interest in the mineral rights
From the last 8k
Wentworth has a 19.5% royalty interest in the well.
I'm just wondering if Wentworth sold off some interest rights to pay down the debt
Just my thoughts
GLTA
BREAKING OUT
The paper demonstrates that valuation of a leveraged buy-out may be strongly enhanced when the flexibility, that the buyer-investor is willing to bring in managing the target firm through the post-merger value creation initiatives, is assessed by integrating the traditional Adjusted Present Value by means of the Real Options Approach.
Corporate control has added value for an investor since it gives degrees of freedom about the use of assets, sources of finance, salaries, etc. On the other hand, real options create value through the flexibility associated to the ability to react to some relevant uncertainty. The process of acquisition of corporate control can have two real options associated, a waiting option and a growth option. In the waiting option value is created through sequential investment instead of investing at once, while the growth option carries all the private benefits the investor can seize from control by making follow up investments, which can also justify premiums paid above the former market price. A relevant proposition of our paper is that the exercise price of the growth option (and hence the amount to be paid as the control premium) can be affected by the release of information. We develop a model for these two theoretical extremes, one where the exercise price fully reacts to events, and one where the exercise price does not react at all, and we obtain that the timing of the process of acquiring control would depend on the reaction of the price to be paid to obtain control, so would the size of the control premium over the former price.