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Tbird, ok thanks, I have trouble following the whole story here sometimes, I do try to have a life other than BDGR, although this could rival "Dallas" as a TV series.
Tbird, an effective president would be watching over the purse strings at the company he was president of. If Ellis has no other agenda other than being an effective president, I would assume this to be the case. I believe this is the start of a longer process in many areas.
Tbird, are you are making reference to my post on bias, if so address it to me. All statements truthful or otherwise are biased towards the individual who delivers them without corraboration. Now I'll be a wise ass, unless you were taping them.
mike7777, observation, your posts seem to have prophetic nature to them.
In regard to my post about stock issues and short selling, there have been reports from several different sources about a very large naked short position in the stock. All very murky as is the nature of naked shorting itself.
Tbird, your source for info at BDGR seems quite informed albeit slightly biased.
Local, you stated that big oil has left the building so to speak. What are you hearing about mid-sized independents interest in the area? I hope you deleted those xlf puts you had off your computer screen, they must be real juicy this AM. I had index puts yesterday and sold 1 1/2 hours too early, but a profit is a profit.
I've alerted CT to my displeasure with JL remaining as president of BDGR. CT stated that he has had discussions with JL regarding this. Also, CT do we have any more info on the progress of the audit?
A question to all, how many big banks or investments institutions are going to fail because of the mortgage derivatives? What effect will this have on the price of oil?
When a company issues stock, whether it be through a public or private placement, it generally prices it at a discount to market in order to entice the acquiring party to do the deal. How does the acquiring party protect its investment? Just thinking out loud.
TBird, you give the impression that there's something in the works, is this true? At the moment, the rumor mill seems quite cluttered.
Tbird, obviously, you've found a new occupation for JL, he can be in Congress. Good work.
Tbird, I have to admit that I read all your statements without answering the question. I agree with you that Lanza does not want to change anything. But Lanza has no option here, a change will be made. All your other points have some validity, but you do not have enough information. Rest assured, Lanza is going, I certainly hope with the least amount of disruption to BDGR.
Tbird,
"First question, yes."
"Second question, do you understand and realize the position as a director of a company, then you can understand his power and OBLIGATION ."
On Lanza holding a director or officer position, I see nothing in the priors that prevent that, if there was removing would be much easier.
Lou is not pumping for Lanza and he is working on correcting the issues and BDGR.
Mav, with all due respect, the company will not be turned around with Joe there, for whatever reasons all may want to speculate about. Bottom line, JL goes quietly or otherwise.
Mike, that is correct if the world economy keeps going. If we pull back, we'll take China with us and that's a problem for the demand side.
Spunky, the difference, if you research the two companies, is that OMOG never had any assets and was a pattern of Barnett scams. Despite Lanza, BDGR has assets.
I have always advocated the best resolution for BDGR would be a plan that all agree to. Cooperation would be a benefit to all. But if some need to be "enlightened" to all the avenues avialable, then, so be it.
Tbird, in the legal world nothing is ever black and white, it is always litigable. I am merely preparing some groundwork.
Spunky, In fairness I have to say that Mr.Lanza did call me the Friday he received the letter, I was not available. I returned the call last Monday and was informed that he was not in(verified) and I left a message that I returned his call. The letter I sent is posted below.
Mr. Joseph Lanza
Chairman of the Board
Black Dragon Resources
100 North Land
Oil City, LA. 71061
Mr. Lanza:
On March 28, 2007 Black Dragon Resources distributed a press release stating changes had been made in relation to the members of Black Dragon’s Board of Directors and other executive positions as well. It was at this time you were appointed as acting President of Black Dragon. As a Black Dragon shareholder, I understand there were various issues that required your immediate attention. However, your role as acting president was expected to be a temporary appointment due to the personnel involved with the operating companies. Your appointment posed a potential conflict with the Operators contracted for Black Dragon. Due to the fact that you are still assuming the role of President for Black Dragon Resources, I believe it would be equitable for you to engage in a bidding process for the potential Operators of Black Dragon’s wells. I strongly suggest you consider this option, and request you do so, in conjunction with the Board of Directors. Doing so, would put to rest any potential conflicts, perceived or existing. Should you wish to discuss my request, I may be reached at the number listed above. Your expected cooperation in resolving the matters at hand will be greatly appreciated.
Sincerely,
Tbird, if shares are bought on the open market, those purchases would drive the price up to some level( not a totally bad event). I have talked to an O&G industry consultant(finance) and he is contacting some people in the industry for some possible dollars or other assistance. I believe that at about 20% you could have some serious influence on direction on BDGR. Good weekend to all and I think we all may need helmuts on Monday for the stock market.
Tbird, simple supply and demand. Example, take a normal company that annouces a secondary distribution of shares. They are normally priced below the market and the stock 9 out of 10 times trades lower after the shares are distributed. Simple supply and demand.
That is my observation, when shares are increased they are "distributed" into the market. Look at the volume change in June and July. Initially you had some "news" related volume, but after that you maintained a very high volume level with virtually no news on many days. I'd call that increased supply hitting the market. If I knew the specifics of when they were created, that would verify(or disprove) my theory. My bet is that most of this has been supply added to market.
I believe that most of the selling in BDGR has been the distribution of the "created" shares of recent time. If no more shares are created, I so not believe there is much other selling out there.
I think demand is outstripping supply and most of your supply gains are in unstable areas. But I also do not believe ,uch of what is reported out of those areas.
Local, you are right, this is not over although I would say we should start looking for a bounce. I had puts on the indexes and got out much too soon. I am now looking for a bottom to play a bounce.
On the leases, I am looking for ownership(including prior owners) and the drilling rights that they have? Thanks
Lou has no trouble speaking for himself and I was just speculating on the lack of exact info on the subject.
On the PR's, I would like someone to put their name on the end of them.
On new events, I've heard a lot of stories about new events which sound like the old ones and until someone steps forward and is definitive, I will be wary. But remember, with an audit and listing and no BS, this company with its assets is a minimum $1 stock with 125 million shares, we have got to remove the cloud overhanging BDGR and its potential.
Local, whenever you can sell at a profit it's nver bad. Second guessing(one day early) will only screw you up on the next trade. Is there any way to get info on leases without physically going to LA? Thanks. Also, I think there will be a few more trades in the future on the XLF, the pain is not over.
Tbird, a comment and a question, I think the discrepancy in the share amount is based on the so-called retired shares and whether they exist or do not exist, my opinion. Who do you think is constructing the PR's that make you feel so confident?
Tbird, just to clarify, I do not mean right as totally being righteous. Although you could not as for a more honest person than Lou, but also tenacious. Right, for me, is the plan that preserves BDGR and its assets. For if I was not honest, I could conclude that a hit man may be the right answer, an easy answer, but not the right answer. God, there's too many rights in this paragraph. Let's solve the problems.
My problem with the PR is not what is being whined about here but something that I feel is much more significant, production verus shipments. I also think that 99 million might be a bit low(just my gut). And who has called the auditor, you must understand that I do not care if you do, its not my dime, but I know that the material is being sent and arriving. My concern there is that to get the audit back involves paying for it.
Hey Local, you sell those XLF's(I think that is the symbol) yet?
Just for the record, last post by accurate was 6/26/07. earl derrick born on 6/28/07. What are you hiding or running from? What a fraud.
tBird, there are potentially many good things at BDGR along with great assets. But there is a problem and to solve it without a negative effect on the company is not as simple as some may think it is.
oil derrick, that response tells me who you are.
derrick, dumping and issuing are two different matters, dumping implies ownership, keep trying.
oil derrick, you need to get your facts straight. I never stated the amount of shares, and at the time accurate's number was wrong, more wrong if you look at the date of issuance in regard to the time of his posting.
Charts, you are right about the possible charge and request by M&B not to have shareholders consuming their available time. I happened to acquire the info before the request was made, along with not revealing the individual handling the account. It has been confirmed by other sources other than myself, so I consider this a moot point. There are more important issues to address at this time, like where's the bottom in the Dow and JL addressing my letter. Take care.
Spunky, you mean this is all written and not cyberspace, amazing, next thing will be the revelation that soso and accurate are disjoined siamese twins. Hopefully, despite all the creative postings by some, real progress is being made.
Soso, Are you stating that Malone and Bailey is lying?
To all, if some of you would have spent half the time that Lou has trying to correct the multitude of issues at BDGR rather than just bitchin', maybe it all would be further along than it is. It's all about greed and money and that applies to all sides. When the stock has risen the whining drops, when the stock drops, the flood gates open. From my perspective, I wrote this investment off awhile ago, so anything that happens now is in my plus column.
I've read all the expert's opinions on what should be done and realize that some are well intentioned and some are the anger of revenge or some other agenda( and there have been many with this Peyton Place). I know the right people who could flick the switch at the SEC but that would be a pretty good guarentee that BDGR is a zero with no assurances that some of you would get your revenge with JL because with the SEC and lawyers nothing is black and white(I've been told this by a legal source). For me the best revenge is putting money back in my pocket.
There is probably very little debate on the fact that JL is a problem. I will not debate the reasons because most have not had enough information(accurate) to post and the reasons cloud the thinking in extracting a positive solution. The "extracting" ( I am not indicating the method) of JL is an easy answer, unfortunately the plan cannot be conceived as quickly to have any chance of success) Barry M. was exposed to this and Lou is now being exposed to the same.
From the beginning I believed that the company had potential in an industry that looked positive(even moreso now). From recent events, I believe that there may be many more assets than I originally thought. As a shareholder, I want those assets and I want them enhanced. I do not want them taken by pirates(venture capital) at a discount or by mismanagement( in whatever form).
I could rant and explain more at this time but I've wasted enough of mine and that is only a fraction of what Lou has put in. I have sent a letter to JL. He will receive it tomorrow(it has to be signed for). I may post the letter, I'm not sure. I believe it has legal consequences for JL to consider. I will not speculate, because too much of this has been done in the past.
Meanwhile, the Dow is down 200 and I haven't been short. Take care.
Malone and Bailey has received audit material from Black Dragon.
Local, for me, this is the issue, continued inflation and a weaker dollar, offset by a sluggish economy and an overall debt problem. The Fed does not want to raise rates because of the strain on mortgages and personal financing, but they may be force to because of the dollar.
If the market continues to rise into the month of August and it may not, we are setting up for a classic financial repeat.
In 1929 and 1987 the Fed raised rates. In 1929 they were wrong and in 1987 they were forced to by the dollar, either way, the same net result.
I also set rising energy prices until the world economy contracts. This should benefit BDGR "IF" they continue to move forward.
Other than that I sold my DJI puts this AM. Thank you Bear Stearns and the wonderful mortgage formulas that I was never taught in college. Good luck.
Local, are you still holding those financial puts? If you are it should be a good day for you. Two hedge funds are basically worthless but remember it is not a systemic problem, until the next shoe drops.
Do you have any more to add to the discussion about deposits in the Caddo Lake area at 5000 ft. plus? Thanks
Offaly, refer to my post #7156, I did a few comparisons for listed and reporting stocks in the oil and gas industry with somewhat similar revenues. You can make your own decisions based on what you think contributes to value, but I think with the present conditions, BDGR should be at least a dollar.