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Crow, do you walk sideways? I say that only because your posts are often quite slanted (as well as repetitive). C'mon, you know the TNOG longs board alone has over 300 people and they control around 70 million shares. If you want to dredge up something that is almost 2 years old to garnish your point, that is your prerogative. A link may be verifiable, but that alone does not necessarily make it timely, relevant or germane to the situation. Regardless, some folks also need to know your motive--why are you are spending so much time focusing on a stock barely over a half cent. Seems to me all of the problems are more than priced in.
The link below will be helpful to people to better learn about rogue hedge funds and the havoc they are doing to small start up companies:
http://www.businessjive.com/nss/darkside.html
It's a fascinating look at and an explanation of the pernicious effects of FTD--failure to deliver by hedge funds and naked shorters. They exploit loopholes in the law to make a fortune, while hammering companies into bankruptcy. And little is done about it. So far.
TNOG technicals are looking great here. Perhaps it's due to accumulation before the SEC pulls back the rock and illuminates what's going on with naked shorting of the pinks.
-----
In support of the new NASD Rule 3210, NASDAQ, as NASD's service
provider, will expand the current Regulation SHO Threshold
Securities List to include non-reporting OTC equity securities,
effective July 11, 2006.
Did you even bother to read what Restocker wrote, Kro? Here's an excerpt:
" Oil exploration is a risky venture and everyone needs to do their own due diligence, but the next three months will provide real insight into Titan's capability. Oil production increases at the Stanley property combined with production at Bastrop and Caldwell should create a revenue stream that will drive the pps of this stock. Do your own research, and if you like what you see, get in for the ride. Good Luck! "
He's saying oil exploration is a risky adventure and everyone needs to do their OWN DD. Why do you interpret this as pumping? Seems to me his was a level-headed, slightly positive post, but not remotely a pumping one. Everyone should do their own reasearch and not rely on what is found on message boards--especially those by someone with an anti-TNOG agenda.
I think all here have a pretty good idea about whose collar you wear.
JMHO
SloJon--you are quite correct about this and I found out the hard way. It's no use fighting against the bashing windmill machine--especially on an unequal playing field. (How's that for mixed metaphors?) However, I had long suspected it was biased toward the bashers.
As for flying over a site, I have already maintained that it will mostly be a useless, empty and expensive venture. And given the inexperience and the lack of neutrality of the person doing it, I don't expect much. Besides, anyone can doctor photos with software to slant such a photo any way they please and then start tossing the word 'verifiable' around. I don't know if this person has the knowledge to operate such software, but I do--I work with Photoshop all the time--and it's quite easy and seamless. Nevertheless, I hope he has the sense to bring along a good telephoto lens. 300 MM should do it. Shooting through glass could complicate matters, though. He might have to roll the window down, ha ha.
Lowman--this is very true. A lot of people today want instant gratification. They want their money and they want it NOW. If they don't get it they start bellyaching and selling away their golden tickets. "They' consisting of traders mostly. This is made worse on the pinks sheets, so I guess it's understandable. Most want to get in and out as quickly as possible on the pinkies.
Investors with patience and vision will do very well with Edex. Think in terms of months and years, not hours or days.
JMHO
SloJon, you nailed it:
"he is an absolute master of the insidious half-truth"
Right down to his folksy, grandfatherly "I'll teach you to do verifiable DD" nonsense.
And when he's away from the RB board, all the other bashers mysteriously disappear too!
I'm patiently holding TNOG for a run this summer and when that happens, the Krobots will evanesce into the woodwork.
JMHO.
I've already refuted your so-called 'DD' many times in the past but you ignore it. I've taught you where you've been wrong many times but you refuse to listen because you must stick to your script. You leave off anything positive about TNOG and constantly insult longs. You are neither neutral nor fair and balanced. This is my last post to you on this matter for a while because typing to you is like talking to a web 'bot.' And that goes for all the other basher bots as well.
Everyone should do their OWN DD on TNOG. Only then will be they be truly accountable for their own decisions.
GO TNOG!!!!
'nuff said.
Gimme a break. This is a drop in the bucket. Leave it to you to make a mountain out of a molehill. Speaking of things going on behind our backs, why aren't you accountable for your posts? Where is YOUR transparency? Why are you here? How much money are YOU making by relentlessly bashing TNOG. Oh --that's top secret, I forgot. You are not accountable for your decision to bash TNOG for well over a year--don't lecture TNOG investors about accountability.
Thank you.
Nice close. The chart looks great too. I agree with whomever said a nice slow, steady climb is preferable to a parabolic move. That would only attract the 'weeee' crowds of traders who would dump it back down and ruin the chart and momentum.
My patience on this one has paid off big time already--and we're just getting started!
Kro loses a bundle on a pink penny stock. His way of getting even? Find another pink penny stock and bash it for over a year. Perhaps he finds that beating up on TNOG longs somehow relieves the pain of his self-loathing for losing a lot on an another penny stock. Why can't he accept that he is accountable for his own mistakes without taking them out on someone else?
Kro loses a bundle on a pink penny stock. His way of getting even? Find another pink penny stock and bash it for over a year. Perhaps he finds that beating up on TNOG longs somehow relieves the pain of his self-loathing for losing a lot on an another penny stock. Why can't he accept that he is accountable for his own mistakes without taking them out on someone else?
Yeah, a lot of chickens left the roost today. But if you look at most of the pink oil stocks that have had runs, you'll see much of the same thing. PGPM, NDOL, FPPL, etc etc all have cratered from their recently pumped up highs. About the only one on my list that has held steady is EDEX. (Which fortunately I own).
The fearful should not be playing the pinks. Because along with greed, they also serve up a heavy dose of fear.
This is brutal--and my biggest loser of the year in terms of %. But what's the point of selling now? I for one will not be adding any more unless/until I see the return of the third zero. Pink sheets are like playing with fire. Sometimes you get burned. Gotta take it like a man and be more careful next time!
Still, IDCN is concentrating on domestic oil production. That's good. Oil prices have gone down because of the news today, but Iran isn't gonna give up thier nukes no matter what. Thinking longer term oil will still go up over the summer. IDCN has good chances of bouncing back. You don't have a loss until you sell. And don't listen to the penny flipper 'weeeee' crews unless you too are willing and able to get in and out as quickly as they do! JMHO
I picked up some more IDCN here at .002. Isn't it amazing how easily oil, gold and silver can be 'talked down.' But it's all short term. The long term picture remains the same and it is grim. Sure, oil will go down when the US offers them a deal. Does anyone really think it will change things? No. Iran won't budge. Chavez won't budge either. China still needs oil. Oil prices can be slammed down a buck or two, but the age of cheap oil is over. The dollar must inflate or die and Bernanke is pushing on a string. The US has too much debt, huge deficits plus millions of illegals and retiring baby boomers wanting ever more entitlements. Not to mention little spending on alternative energy. Most of that money is going toward the war on terrorism. I'll hold gold, silver and oil companies through these talking head smokescreens.
JMHO
You're not looking hard enough. Probably because you're looking through anti-TNOG colored glasses. The word verifiable is a catchphrase you use as a cloak to hide your true agenda. It's part of your abusive basher theme song and nothing more.
I am honest about why I am here. I am long TNOG. Why are you here? You hide the reason behind a smokescreen of silence.
I have posted plenty of verifiable DD. You choose to ignore it. Only negative DD is acceptable to you, and that's verifiable.
Newbies, if you're new to TNOG, you'll notice that this 'Crowin' character takes up a lot of space on all the boards. You'll also notice that he likes to strike an affable, folksy pose. Fine. He also likes to come across as your friendly neighborhood oil expert. He's wants you to think he's here as your guide. He also claims he is neutral and is not trying to get anyone to buy or sell. Since he can't even come clean about that, it should raise some red flags about everything else he writes. Obviously he wants longs to sell and newbies not to buy at this low price. He has abused longs by looking up their IP addresses and announcing their locations--and he also frequently calls them names. Sometimes he almost seems desperate to get folks to sell. He is not your friend and not a nice guy, IMO. Everything he posts is ruthlessly slanted toward the negative. He leaves out anything postive about TNOG. He has spent countless hours bashing TNOG on all boards. This is verifiable. Why is he here, you may ask? Notice how we won't tell you. All part of his disingenuous game.
TNOG did have oil and gas from their K1 well at one point. They may redrill it to find their missed target or use it as a disposal well. They are currently pumping oil from the Stanley Unit. This is verifiable. They have promising leases and JVs and will be drilling soon. Don't let yourself get talked out of opportunities. Oil prices aren't going down and domestic oil companies (like TNOG) should prosper this summer. Do your DD and don't be intimidated by the sheer volume of repetitive posts on all boards by the basher entity.
JMHO.
Hey, I could have written this post. I also accumulated more today--maybe a little high at .0025, but I hope that won't matter. If it goes lower I may just get more. I have an even million shares now. I'm thinking I'd almost rather see IDCN rise in a steady, logical manner rather than continually be pumped and dumped by certain day trading crews (they know who they are). Geopolitics and high demand (India and China) will keep oil prices going up over the summer. IDCN looks poised to reach the pennies sometime later this summer--especally if oil revenue starts rolling in. Flippers will come and go, but at this point I'm staying for larger gains as indicated by the big picture.
My other pink sheet oil holdings are EDEX and TNOG. Don't forget to buy some real gold and silver on this current pullback. The dollar has nowhere to go but down. I think we'll see inflation rather than deflation--no matter how Bernanke spins his stance.
GLTA
So many reasons to buy TNOG. Here's another:
Oil Rises After Iran Threatens to Disrupt Persian Gulf Supply
June 5 (Bloomberg) -- Crude oil rose in New York to the highest in more than three weeks after Iran threatened to disrupt energy supplies from the Persian Gulf region in a confrontation over its nuclear program.
Iranian supreme leader Ayatollah Ali Khamenei said yesterday the U.S. could ``seriously endanger energy flow in the region,'' supplier of about a quarter of the world's oil, by acting against Iran. Oil has risen 20 percent this year amid disruptions of supply from Nigeria and concern Iran's exports may be cut.
``There's a large amount of oil flowing through the Straits of Hormuz, and with the market as tight as it is, we just can't afford to do without those flows,'' said David Thurtell, a commodities strategist at Commonwealth Bank of Australia in Sydney. ``They're not just threatening to withhold their own oil, they're threatening to disrupt energy flows through the Gulf.''
Crude oil for July delivery rose as much as $1.12, or 1.6 percent, to $73.45 a barrel in after-hours electronic trading on the New York Mercantile Exchange. It was at $73.25 at 7:48 a.m. Singapore time.
On June 2, oil climbed $1.99, or 2.8 percent, to $72.33 a barrel, the highest close since May 11, after an attack on a Nigerian oil rig. Oil touched $75.35 on April 21 and 24, the highest since trading began in 1983. Prices gained 1.3 percent last week.
Iran, which pumps 3.85 million barrels a day of crude, is strategically located to shut off exports of about 17 million barrels a day from the Gulf region through the Straits of Hormuz.
Oil Revenue
Khameini, in the address carried by the official Islamic Republic News Agency, said Iran is in a stronger position than the U.S. because President George W. Bush is the most unpopular leader in the world.
Bush ``faces protests and public wrath wherever he steps on earth,'' IRNA cited Khamenei as saying.
U.S. Secretary of State Condoleezza Rice dismissed the threats, saying the Persian Gulf country needs the oil sales.
``We shouldn't put too much emphasis on a threat of this kind,'' Rice said yesterday on the ``Fox News Sunday'' program. ``After all, Iran is also very dependent on oil revenue.''
The U.S., China, Russia and three European nations are offering Iran, holder of the world's second-largest oil and natural gas reserves, a package of incentives to re-engage in negotiations on its nuclear program if the government in Tehran abandons efforts to enrich uranium. The U.S. contends Iran is heading toward development of nuclear weapons, while Iran says it is seeking to develop nuclear plants to produce electricity.
``Iran seems to be sticking to the line that they are going to have nuclear enrichment no matter what,'' Thurtell said. ``If Iran is forced to rely on anyone for their nuclear fuel processing it compromises their long-term energy security, and I don't think they're going to be prepared to do that.''
In Nigeria, kidnappers yesterday released eight foreign oil workers they took hostage two days earlier in the Niger River delta. The incident was the fourth kidnapping of foreign oil workers this year in Nigeria, Africa's top oil producer.
That should have been 'essentially,' not essential in my last post. Sorry for the typo. I should get some coffee in me before I type. Here's a nice post about TNOG's potential from Spiderman that you may have already read--but it is worth repeating:
. . .
How about royalties on 4 punched holes pumping an average of 200 bpd each all verified by the TRRC ? Would that be enough quantities for shareholders? . . .
Lemme see... 800 bpd x 30 days x $70 bucks a barrel = $1,680,000 dollars a month. Of course Titan gets only 16.9% of that which is about $284,000.00 dollars a month net. No expenses just all straight cash for doing nothing but holding the lease. Gee, that's $3,400,000.00 dollars a year practically for free on someone else's dime.
. . .
Of course this doesn't include what Titan does on their own on their other leases and will get 100% of gross.
. . .
Spider
Hey Doc,
Yep, I do have many of them on ignore. Like the ones who are crude and insulting and the ones who take 10 messages (usually in all caps) to say essential one negative thing. They spend 24/7 bashing a sub-penny stock with a lot of promise. Ya gotta wonder why they're all here and I think we both have some good clues. One thing you can say about 'em is they're consistent. Which reminds me of a good quote:
A foolish consistency is the hobgoblin of little minds.
--Ralph Waldo Emerson.
Dr. Silkworth, I agree with you wholeheartedly. This summer belongs to TNOG. Longs are on the right side here. We are the good guys. We are holding resolute despite the current firehose of negativity aimed at us and TNOG from the basher hydra--and we should be congratulated. Soon we will be rewarded and when that happens people like Kro will acquiesce into irrelevance. Oh, he'll probably still be around, but he'll be viewed as mildly dysfunctional.
JMHO.
IDCN didn't really tank today. It probably shouldn't have run so quickly back over .003 to begin with. The crew on BB's Penny Haven started pumping this yesterday once again and it had another good pop as a result. When you see those guys typing things like "WEEEEEEE" then that's the signal they're dumping. You can make a lot of money following their picks but you'd better have a day trading account and be ready to get out as quickly as you got in. If you're greedy and listen to "it's going to the moon!" talk, then you end up a bagholder.
I have some IDCN and did not sell today because I like holding longer term and this one looks good for a sustained run over the summer. Try to play the pops if you must and if you have good timing--and are on the computer all the time during trading. Otherwise be patient. A lot of money can be made with patience!
Golden crosses don't mean as much with pink sheets, but the pennant flag on the EDEX flag pole is looking mighty promising! Everything is looking good on the EDEX checklist and everyone should be buckled in and ready for takeoff at this point, ha ha.
You've 'discovered' nothing. That implies the DD was hidden. Everyone knows how to look up this info. It's freely accessible. You say you 'provide' and 'discover,' but what you don't provide is WHY you are spending countless hours and thousands of posts and travel money to bash TNOG. And while you're bashing, you're also accumulating and then flipping TNOG into any run. That's verifiable. What chutzpah. Your posts may or may not be outright lies, but you do slant and leave out a lot of stuff.
Example: One of the wells they're redrilling at the Bastrop lease did have oil and gas. You never mention that.
Example: The K1 well had oil and gas. It tapped out, but they did have it. And they may have it still. They may redrill to find the missed target. You never mention this. You'd rather dredge up endless reruns of your well-spun DD...some of it nearly a year old. You ran those same reruns many dozens of times on RB before they booted you.
Example: You say TNOG is not discovering new oil, but merely opening up 'old capped' wells. Spun as a negative when in fact TNOG on its own website says that's what their business is predicated on! It is cheaper to reopen and redrill wells where there was oil than to wildcat (where the chances of finding new oil is much less).
Exmple: You posted over and over how dangerous pinks are and how few pinks ever graduate to other markets. And yet in your profile you say you prefer high-risk stocks. While you are trying to warn newbies to stay away from pinks, your true motive is to keep 'em out of TNOG. Very slippery. Investors are adults and nearly anyone who invests in pinks KNOWS they are volatile and risky. They are responsible for their own decisions and they don't need you treating them as children. (Another old basher ploy--act as a 'wise' old man).
Example: You leave out how your animosity toward TNOG and Maupin may somehow be tied up with your brother in-law who is in the oil business with a different company. He may have a personal grudge against Maupin. As a result, any negative thing about TNOG is ballooned and endlessly repeated by you, but when it comes to revealing your own motives, it's totally 'hush hush.' I guess you're leaving it up to us to 'discover' your true motives. Do you work for the Manitoba Group? Did you lose a ton on a pink sheet stock and decide to 'get even' with TNOG? Working with an MM? Just a crank with an unusual hobby? Tell us the reason behind your feverish obsession with TNOG and your credibility will become far more verifiable.
Example: You use the word 'verifiable' as a catchphrase to cover your tracks and what you're leaving out. And that is TNOG is a viable start up oil company with a lot of potential.
Example: You pretend to be neutral and you don't claim to have a buy or sell recommendation re: TNOG, yet you repeatedly harass longs by calling them 'stuckholders' --whether or not they are stuck (and many of us are NOT stuck!) while never EVER saying a contrary word to the legion of bashers clogging up the RB who are telling outrageous lies about TNOG.
Example: (from the longs board) There's a twist to everything you post, in every fashion possible. Like when you said to use "Maupin" when you're
looking up the railroad reports online. To a newbie, they would look up
history using Mauphin as a keysearch. To someone like me, we know that
Maupin wouldnt turn up the proper results....you have to search with Titan.
Example: You spin the percentages as negative when in fact it's good for TNOG. TNOG has little debt and is NOT diluting. (You never mention that).
Example: You went to the K well when nobody was around. (Actually, you trespassed). Whatever you said regarding a lease holder is hearsay. Whatever you interpreted was completely your own spin. Whatever you see out of a plane over Bastrop should be treated with the same skepticism--and nothing will be verifiable even if you say it is!
JMHO.
Brikk--appreciate your posts. I'm holding a sizeable chunk of EDEX here and it sure is looking good.
OT, I just talked to a friend of mine who got back from Midland. He said the oil business is booming big time and the place is swimming in money. The economy there is humming. A repeat of sorts from the Texas boom days of the early 80s. When I got out of college years ago (San Angelo was my old stomping ground) I remember folks who knew nothing about the oil business getting into it in a large way. Some got rich in a hurry. Others lost everything when the bust hit in the mid-to-late 80s. The recession was quite painful--in west and south Texas in particular...but by that time I had left for the Great Northwest. Nevertheless, there is still a lot of oil in Texas and a lot of it is now well worth getting it out of the ground with the high prices. This time the situation with our economy and world geopolitics is different and higher prices may be here to stay.
Anyway, I'm thinking of visiting Texas this summer (I have a brother in Austin and sister in Bastrop). It would be nice to drop by and pay a visit to some of the oil sites, but Texas is a big state and many of the sites are hard to get to. We'll see.
Meanwhile, it looks like it's going to be an exciting summer for EDEX. Good luck to all of us longs!
And TNOG bashers don't exist either. Yeah, r-i-i-i-ght.
Believe what you want to believe. Nobody is stopping you Dogface--bark at TNOG all you like.
Anyone ask Kro why he is here? Yep--to get you to sell at the lows so he can flip your shares.
The Manitoba Group must be proud of ya.
You were incorrect a year ago and you are incorrect now. Titan states they recomplete previously drilled wells. Yes, they re-open abandoned wells and try to make them profitable during times of high oil prices. Stating the obvious (but adding your negative spin) is NOT DD!
The so-called 'DD' you just posted here is nothing but heavily distorted year-old reruns that are in no way relevant to what's going on at Bastrop. Titan has produced and continues to produce oil from their Stanley unit and they did have oil in the K1 well but they weren't satisfied and redrilled it again. They came up empty. They haven't ruled out redrilling it again there to find the missed target.
Most TNOG veterans here know you are rehashing your old so-called 'DD' simply to boost your own faltering ego and chase newbies away so you can accumulate low and FLIP TNOG. You may also be helping some entity or hedge fund or MM by shorting on runs...who knows. You still haven't come clean here--you need to admit to readers that your reason for being here is to continue your flipping pattern with TNOG. You are not here for egalitarian reasons, but to make money just like everyone else.
You aren't even accountable for your own actions and yet you have the unmitigated gall to post your sing-song, patronizing admonitions such as 'everyone must be responsible for their own decisions.' Hypocrisy? Heck yes.
Dr S--you already made my point exactly. He can only post DD about the present moment and then paint the bleakest picture possible while consistently leaving out past history and future potential. Whatever he writes must be taken with a huge grain of salt because he is not here just for his health. He is here to instill doubt and discouragement over our investment--while profiting from TNOG by flipping. Notice how he doesn't deny that.
When you read his so-called 'verifiable DD', we must bear in mind that to him 'DD' really means "Doubt and Discouragement!"
Crowin is wrong. One of the wells there did have oil and gas but it did not last and it was not worth redrilling at the time--not when oil was at $15 a barrel. So there WAS oil there that current maps do not show because they are now capped. Everyone already knows they are capped so this 'verifiable DD' proves nothing. Nevertheless, these leases ARE on the doorstep of Crow's erroneously described "big lake" of oil.
TNOG is planning on redrilling these wells with the intent of accessing previously untapped fractures around the Austin Chalk/Edwards Lime formation that contain the oil. They are using modern drilling techniques. Don't sell shares here at the lows when you should be accumulating. Kro wants your shares cheap so he can flip them. Yes, he has flipped TNOG many, many times. Just ask him to verify that fact.
TNOG: Bullish outlook
Consider this:
Hurricane season begins next month.
Oil prices are going up this summer due to increased demand from India and China. China is buying up sources of oil.
We are past the oil peak and Saudi Arabian fields are on the decline.
The Iran problem is not going away. If we don't attack, Israel may have to. What do you think this would do to oil prices?
Nigerian supplies are hampered by civil wars and terrorism.
In Venezuela, we have a Castro-wannabe who hates the US. He could cut off a huge source of oil to America at any time.
Americans may complain about the high price of gas at the pump, but they are not cutting back.
TNOG is redrilling wells that were proven producers in the past. These wells were shut down because oil was at the time much lower--$15 a barrel and the wells were not economically viable. Now these wells can be made productive again at a time when oil is nearing $100 a barrel.
TNOG has oil expert Peter Maupin on their side.
TNOG has no geopolitical risk!
Don't let the hydra-basher entity cause you to miss out on making money this summer. Do your own DD and pick up some TNOG while prices are still low. JMHO.
Oil is going higher this summer and domestic oil companies will benefit. Including TNOG. Read what oil expert Peter Maupin has to say here:
http://www.titanoilandgas.com/future.htm
Remember--there are two sides to every coin. Some folks here concentrate exclusively on the ( - ) and leave out the ( + ) and that is a verifiable warning sign.
The U.S. won't drill off our coasts, nor will drilling in the vast Alaskan wilderness be allowed. (I've been up there and drilling would be like a mosquito bite on an elephant's rear end). We also have not built an oil refinery in over 30 years. No new nuke plants either. NIMBY!! Folks will be even more aghast when a gallon of gas hits four bucks, but as long as our government works against the best interests of our country, nothing will change.
This is all frustrating of course...but good for small, speculative domestic oil companies.
Crow, if you truly wish to win the respect of TNOG longs, I suggest (at the very least) you refrain from calling them 'stuck holders' and 'ostriches.' Abuse such as this will taint any DD, verfiable or not. Many of us are averaged in under .005, so that's hardly being 'stuck.' And why would any of us want to sell here when high oil prices are looming over the summer and drilling is just getting started?
If you truly want to get longs out of TNOG, I suggest you start pumping it. When the PPS goes up, THEN longs will start leaving TNOG and you'll be happy! (Just kidding).
One final thing--of course everyone is accountable for our own decisions. People who play the pinks are adults, not children. We all know the risks. You state the obvious.
I provide a warning to TNOG investors not to sell their shares because of what you write--which is always slantedly negative. You consistenly ignore TNOG's potential. People can and should do their own DD. I know you think you're providing a valuable public service (or something) but they really don't need you. Sorry if that's a blow to your capacious ego, but that's how it should work. People should do their own DD and not rely on anyone with an agenda--be that long or short. JMO.
Crow, please do take a rest. You must be exhausted from your blatant and prolonged anti-TNOG warpath. To you there is no such thing as a long. They're either pumpers or 'stuck holders.' You continue to consistently ignore anything positive about TNOG and you've made your views wearily well known on all the boards. EXCEPT the TNOG longs board which is completely basher free. Yahoooo!
WMBZ--right on. This is the bottom. Buy low, sell high.
I had a lot of trouble getting filled too. They filled a small part of one order and then skipped on by. I ended up having to chase it, but I figured it would be worth it given the momentum here. BBstock and crew are also all over this one--ALWAYS a good sign. People make a lot of money following his picks.
I did sell some at .10 a few days ago, but I've since accumulated most of the position back at under .07. Now I plan to sit back and let it ride. (I got my initial investment back and that always helps ameliorate any fear).
We are on the doorstep of a summer of high oil prices and there are too many potential fireworks to sell here. I watched this stock debut at .80 and go all the way down to under .02. Now everything is in place and it's time to go back up!
If you read the updated TNOG financials, you'll find that they may be redrilling the K1 well with a JV parter. So it may not turn out to be a 'dry hole' after all!
NOTE 6 – CURRENT OPERATIONS AND FUTURE PROJECTS
CURRENT OPERATIONS
Work is underway to commence high-volume pumping on the Stanley # 1
Well in Wilson County, in conjunction with a water disposal system to
allow the well to be produced at a high volume. The Stanley # 1 Well
produced in excess of 1,000 barrels of oil in one month earlier this year,
and has a past production history of approx. 28,000 barrels of oil, along
with substantial amounts of gas.
A high-volume turbine submersible pump has been ordered, and the
permit process is underway to commence work on the target water
injection well.
FUTURE PROJECTS
Bastrop County – Central Texas Project
Titan currently has over 250 acres under lease in Bastrop County, with an
additional 350 acres that are also available in order to initiate new drilling
operations. We are arranging the transportation of tanks from the
Kosciusko location to be used in developing our first target well on the
Bastrop County lease.
Titan's initial drilling target in Bastrop County is a re-completion of a well
with an initial production history of approx. 170 barrels of oil and 178 mcf
of gas per day. Titan’s Petroleum Engineer, Pete Maupin, wants to utilize
a process to renew production that has been successfully used in the area
many times in the past, but that was not applied to this well.
If test results are as expected, with the current 250 acres under lease there
are a further 5 opportunities for wells to be drilled in this field - 1 re-
completion of an existing well bore, and 4 opportunities for new wells to
be drilled from the surface. If we proceed to lease the remaining 350 acres,
we will have 6 further opportunities for new wells to be drilled from the
surface. We will be issuing a Bastrop County Report to shareholders
similar to the report that was prepared for Wilson County.
Stanley #1 B Well
In addition to the foregoing, we plan to undertake horizontal drilling on
the Stanley #1 B Well in Wilson County as quickly as possible. The
original vertical well originally produced over 30,000 barrels of oil and a
substantial quantity of gas as a vertical well. The Stanley # 1 B Well has a
large, 5 1?2” diameter casing to more easily facilitate re-completion by
horizontal drilling than smaller well bores generally found in the area.
Kosciusko #1 Well
Although results were not as expected in a recent vertical recompletion of
an existing well bore, an opportunity exists to undertake an additional
horizontal recompletion to exploit several fractured areas immediately
adjoining the existing well bore. We are actively discussing this with
potential joint venture partners.
Our management team has decided to fully exploit the value of our oil and
gas properties at a more rapid pace by means of joint ventures. We have
had good progress thus far in discussions with interested parties and will
update our shareholders on developments as they occur.