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Unless I missed the number, how many wells, one, two three................ten, how many?
Chris Repasky, has completed the installation of motors on select wells for pump evaluation. In initial tests it has been confirmed that oil is indeed present toward regular production flow and eventual revenues to the company.
The next step moving forward is to connect the oil lines to begin pumping on the initial set of wells, and then the same process will be repeated for additional wells in the lease.
YA! YA! YA! I see it another way, people said they would never put up the ir first quarter, Drake did, people said the second quarter, Drake did, the third quarter Drake did, peole said Drake would never bee current with OTC, Drake got current with OTC, now we have a news Drake will pump oil, people are starting to say the company won't, I say DRAKE WILL
Thanks for this, Peter Matousek has taken on the President position at "DKGR" any rumor he is going to do the same with this one?
We all all wondering if Peter Matousek the IR for this company, we over at DKGR have him as our president of Drake Gold, would anyone know if Peter has something to do with this company?
Looks like this SBRH is doing better volume, better price, we need them to move over to this market?
dkgr dOUBLE bOTTOM
According to Murphy, the double bottom is one of the most frequently seen and most easily recognized. However, analysts agree that this can be a difficult pattern to correctly identify. Investors must pay close attention to the volume during the formation of the pattern, the amount of increase between the two lows, and the time the pattern takes to develop on the chart.
Murphy explains that bottoming patterns may have smaller price ranges than topping patterns and often take longer to build. "For this reason, it is usually easier and less costly to identify and trade bottoms than to catch market tops."
It is quite common after prices reach a new low for a rebound in prices to occur. A retest of the low then usually follows. According to Bulkowski, a retest occurs when prices return to the low and test to see if the stock can support itself at that price level. "If it cannot, prices continue moving downward. Otherwise, the low usually becomes the end of the decline and rising prices result."
Very little offered out there now, time for the $300 trades to come in and take out all the offers and clean this out
Nice clean out, better to see 40 people buy it then just two tickets, two tickets means FLIP
Company Officers/Contacts
Peter Matousek CEO
Vic Devlaeminck Legal Counsel
Rick Tallini Advisor
Chris Repaski Manager, Ops.
Company Directors
From my understanding the operator is the Trust itself, the Trust has out their own man there to make sure the operation is handled properly,according to the plan, making sure the right equipment is used and so on, and I believe his name is CHRIS the name on OTC Markets company page
One thing about the .0001 and the .0002 level, it all looks up to me, all we need now is the news from the operator who is doing the job to produce oil to give a report to Drake on how the wells are progressing, either now ready to start pumping oil or how much oil has been obtained in the tanks which hold the oil, all the oil in the tanks sold will be used for the next well and then the next.
Sure we can be part of this massive shale play, get Drake to close on the deep drilling rights into the oil shale below the 299 wells and we are in, the trust that has the agreement with Drake also has the deep drilling rights, all they have to do is do a deal with drake, then a major can come in and drill all the wells.
You say you know the seller is finished, I am happy to go with that, but unless it was your account or your best friend, not sure how you know?
maybe they will show the trade at the end of the day, maybe a in house cross
The stock has only trade 9 million, what 30 million are you talking about?
There is one $300 trade, 29 more to go!
The two's are always available, it just takes a very unhappy shareholder to say, "that's it I am out of here" blows all his stock out at the lows and walks away, or it takes 30 people with $300 each to start cleaning out the offers, either way, this whats makes a stock market
There is $8,000 worth of stock offered from here to clean out the .0004's , nothing that is 30 trades of $300 per trade, would be a good clean out, a bit of news and its .0005 again
We need to also hear Drake has the deep drilling rights to be able to go after the shale play below
I believe Parker is going Public with or without Drake Gold, all I can see is Drake has an option to buy in more shares, therefore question is what Drake has now is worth once Parker goes public
What news are we waiting on?
I would rather have it that way, forcing the funds coming out of production going back into future wells,this way Drake can't fill the treasury for other fees to be paid out, this way the field gets worked and the 299 wells can be operating
Explain this, you can generate oil and the revenue from this production goes back into other wells, is what you mean that there will be no oil? Any oil play consists of raising funds and usually that is debt financiang and revenue takes time, correct?
This clause is to do with the one lease, it also reads to me:Conditions of Sale. As a condition of sale with respect to the Glover lease, seller must
receive in consideration a total of $500,000 by the end of a two year period in addition to
any additional funds invested by seller. The Seller shall receive all revenues generated
from the property until the acquisition price has been paid or an alternative agreement
has been reached. The $500,000 owed to the seller will not be paid by funds obtained
from the working interest that the seller is otherwise entitled to. Buyer shall then receive
a 100% working interest and have title to the lease. Seller agrees that full amount of
monies that were previously invested in the wells on the Glover lease by Drake will be
forwarded to the operator and be used towards the development of another lease once
seller liquidates the oil held in the storage tanks.
Here is how I read this, the Buyer, Drake can payout the interest by paying the full amount of $500,000 over two years. Therefore Drake cannot use funds earned by the Seller (well financed by Drake 50/50 %)
Also oil in the tanks will be used for servicing new wells, that is where the new equipment comes in.
This part of the Agreememt in PA to me reads such as:
r1. PURCHASE AND SALE
1.1 Subject to the terms of this Agreement, the Buyer agrees to purchase all of the rights to
certain assets owned by Seller where ownership will be assigned to Buyer at Closing.
Said assets consist of land leases containing oil and gas wells and are specifically set
forth in the attached Exhibit A.
1.2 As consideration for assignment of Seller’s leases to Buyer according to paragraph 1.1
above, Seller shall receive a working interest in all oil and gas producing wells located
on leased land described in Exhibit A and operated by Buyer according to the following
terms:
(a) Seller shall receive a 50% working interest in each financed well operated by Buyer
as defined below and further terms fully explained in 1.3
(b) Seller shall receive a 100% working interest in each non-financed or paid off well
operated by Buyer
To me it says the Financier once funding starts the Seller then receives or is on the receiving end and the buyer is then in the control position of the contract.
When the stock broke down from .0012 last time, the stock traded over 300 million shares from .001 down to .0002, now the stock has traded started at .0002 to todays close, 205,000,000 there about's, looks like there may be another 100 million here between .0006 and .0012, IMHO
I GUESS THE WHOLE 55 MILLION IT TRADED ON LAST FRIDAY ALL HAS TO COME OUT HERE, flip, fLIP, flip
Now the news is out about the debt relief, maybe the sellers won't want to sell at the lower prices
All I can tell you is the debt is gone, the shares will not be issued, or issued to him, IMHO I believe this is good for the company moving forward, and you will not, thats good, we need skeptics to keep us all sane.
Lets think here, we have a past with this company, and over many years a certain persons name keeps coming up and this name is never spoken of nicely, and through the comments many have said this person had a large debt with said company, and lets think here, recently this said person was a bad boy, he did things were not straight, so maybe, just maybe, management decided they would just let this not so nice boy off the hook if he forgot all about his debt,so an agreement was written, you forget about ever coming to the company for debt or shares and we will forget you did anything which might have been bad, everyone is happy the shareholders can feel good, all is good in Pinkie land
Extraordinary Gain (Loss): The Company recorded an extraordinary gain from the settlement of all of
its long-term debt resulting in a extraordinary gain of 242,997 for the six months ended June 30, 2012,
compared to no extraordinary gain or loss for the six months ended June 30, 2011.
Here it is, explanation from the filING A "Settlement" of all its long term debt, simply put, the debtor forgave the debt, they wrote an agreement around this and now the debt is gone, DONE
Thats wrong, Drake is a corporation, the debt can be written off to zero on the books, any company can do this whether or not your on the NYSE or the OTC, if the person whom was owed the debt decided to forgive the debt, then the debt can be written off to zero also,, either way it seems Drake has written this debt off to zero, therefore NO DEBT
It looks like the long term debt decided to turn over the debt back to Drake, therefore Drake no longer has to pay this debt, or issue shares for the debt, and take the debt off the books, good all the way around.
Where does one go to see if anyone has asked for a Rule 144 release of shares
DKGR board here is like listening to my wife, she never forgets, neither do you guys, Peter has done a good job cleaning up and there will be news on parker, more info on the September quarterly, everything new, not old, new info for everyone, oh sorry, forgot, we love to live in the past.
Here is another article on the marcellus play which the leases are over http://news.yahoo.com/reports-marcellus-reserves-larger-expected-194250482.html
Drakes Oil Property in PA has the Marcellus Shale deposit right there under all the oil wells, IMHO
As oil and gas drilling and production in the formation picks up speed, you can bet this stock will be in a prime spot to head higher
Just when you thought America’s shale oil and gas boom couldn’t get any bigger, the U.S. Geological Survey (USGS) estimates a newly-emerging shale play likely contains about 38 trillion cubic feet of undiscovered natural gas, 940 million barrels of oil, and nine million barrels of natural gas liquids like ethane and propane.
It’s called the Utica Shale formation.
And it could become the third-largest shale play in the United States.
Massive oil and gas development
Read more at http://www.stockhouse.com/columnists/2012/oct/19/utica-shale--get-ready-for-a-spout-of-potential-ga#T4YylwpsGkA7qJTw.99
From West Virginia to Virginia to Maryland to Pennsylvania to New York to Ohio, the USGS’ Utica Shale assessment spans a total of six states.
“Mad Money” host Jim Cramer will even be in Ohio today to discuss the emerging potential of it.
But what investors should know is that Cramer isn’t visiting Ohio randomly.
You see, if you’re familiar with the Marcellus Shale – the largest shale formation in the United States – you’ll notice the Utica Shale and Marcellus are located in roughly the same place.
That’s because the Utica Shale actually lies below the Marcellus Shale.
Bright spot below the surface
In Pennsylvania, for example, the Marcellus Shale lies about 5,000 feet below the Earth’s surface. The Utica Shale is at around 7,000 feet.
Read more at http://www.stockhouse.com/columnists/2012/oct/19/utica-shale--get-ready-for-a-spout-of-potential-ga#T4YylwpsGkA7qJTw.99
Again, I get my info second hand, the Transfer Agent was most likely in the thousands of dollars, OTC Markets cost is $3800 I believe, the Lawyer $5,000 to $10,000 to clean up everything, past due payments on PA oil package, new deal with Parker, news releases, updates on OTC Markets have to be paid each time, I am waiting myself to see what the new quarterly will look like for the end of September 2012, then I can start to get upset too then.