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I was @ 002 today for a few hours and didn't get any
LOW FLOAT..17 Million O/S
Looks like we're hammering in a price @ 0.002 Short term Resistance. Breaking through this resistance can take this stock up to around 0.0032. Just on supporting news.
Well its lets make a deal time. Supporting news could be as simple as the senior lenders agreed to waive and defer the Company’s obligation and agreed to give an additional extension and waiver.
That alone is supporting news breaking the 0.002 resistance that has formed. Its up or down folks and this three legged horse is far from losing the race. That news alone gives the horse its leg back and onward we run.
Updated frac alone may not be enough I feel. Although we get a nice glimce of future assets and I do firmly believe those assets can finance the debt. Now we have four legs under the horse running.
YA converts, does an R/S company is debt free on the verge of producing some serious Nat Gas.
It lets make a deal...What's the news...We want and welcome the news
GLTA
Very nice gold...Thanks for the update
That's what gets me...Anyone selling this stock after the last 8-KA. Just floors me...I know sometimes people get fed up and move on, but come on after reading that news. There is some serious life still left in this stock. Sure I have a few worries, but who wouldn't facing the uncertainty. One thing is certain. They have cash flow, and assets. That in itself is a far cry better than 95% of the stocks trading under 0.05 Why the low PPS? I feel its the conversion
looming. It would sure be nice to know the future plans. In part Nat Gas prices to play a major role in this stock price. I'm hoping after the conversion we can start to see what these assets are worth in terms of the numbers and not the debt.
GLTA
Please reread my post....I've been on and off the bid and ask all week. All buys no sells
Makes you wonder who the seller is. Seems like these shares are being spoon fed into the market. I never did like holding more shares than the avg. vol. It won't be me taking those shares out above 0.002. I most likely won't be buying anymore at this time...I've bought multiple times all week...
GLTA
In July 2006, as part of the P.D.C. Ball mineral property and Barnico Drilling, Inc. (“Barnico”) acquisition, we purchased a 90% interest in approximately 27,557 gross acres (approximately 22,682 net acres) of oil and gas fee mineral rights known as the “P.D.C. Ball mineral property” owned by Roboco Energy, Inc. in Anderson County, Freestone County and Jones County, Texas for $31.9 million,
(31.9 Million) Before the Frac
Any date on the Refrac?
I'm guessing 10q in about 2 weeks with a tell all.
The dates I'm looking forward to is Nov 1 and Nov 12
GLTA
Liking the dips here, not much worried about the gap below, if anything going back down will be short lived
I have some eye candy for you while waiting.
http://www.rrc.state.tx.us/data/production/proration/gasdist5.php
Also, while thinking about Wentworth...Just sing the late James Brown song...I feel good...While doing due diligence...So good I got you
Will they Frac the well again?
I bought @ 2.23 today going into close. I didn't really like the run up at the end of the day. I grabbed half..Heck I figured one way or the other I'll average later on. I feel anywhere down here will be nice
Ok, Grabbing some @ 2.13 tomorrow hopefully. If not I'll buy them higher
I don't know what this company is worth. I don't know if its worth anything at all. There is lots of info out there. 10k's and 8k's filled with numbers. I see results from a frac test, I look at all the revenue and debt and I try to figure out what this stock is worth. I look for news like everyone else. Hope for the best.
I don't feel this is your regular pink sheet company trading at 0.0018. They aren't selling the next new surf board with a rocket attached to it. They are a Nat Gas company who I think is at bottom in an industry that is at bottom. How everything plays out. I'm not sure. I'm just an small time investor with no knowledge of anything. Time will tell for me if I'm right or wrong, but I believe this stock will be heading up soon.
I don't feel I'm wanted here as an investor, so I will be gone. I'm not here to mislead or inform anyone of any anything with substance. Although my views may be different than some. They are still my views and no one else's
GLTA
125,692,203 / 50000000 = 0.00251
Its no big mystery why the stock price is trading where it is...There is no big booya baby.
Its all baked into the stock price. A stock is always valued at what it is worth. They become over bought and under sold. Its called a range. If you liked it at 0.0025 you should surely love it at @ .001. Nat Gas prices go up..So does this company...It is tied to Nat Gas... Its Revenue is Nat Gas. All stock issued Common, Debt, what be it...Is all baked into the cake. You don't just count what the A/S and the O/S says...You count the whole egg and how it is structured.
Instead you have people e-mailing the CEO, begging for any drop of news. Slapping it back in his face..Wishing things upon him, and what not....Yet I'm the guy who doesn't know what I'm talking about. Yet I'm Harassing
The people that are working through these deals, will get these deals done. If YA owns 80%
that is fine with me. Cause for ever how many shares I have. That is the percent of ownership I own... So for example...If I owned 1 stock and 100 shares were outstanding, and I'm talking the whole eggs..Revenue, Debt, and the guy cleaning the bathroom walls pay..is all baked in. While the stock price is $100. It means I own 100 dollars worth of stock.
Sorry I was off by a huge amount. Almost 100 million off. Please correct me if I'm wrong
530 MCFD
Mcfd
a symbol for 1000 (not one million) cubic feet per day, a unit of water flow used by many U.S. water supply companies and agencies. 1 Mcfd = 19.665 liters (5.195 U.S. gallons) per minute. ( Note how many gallons per minute)
Most natural gas is sold by volume. The volume most often used in the United States is the Mcf (thousand cubic feet - the "M" comes from the Roman numeral for "thousand"). A price quote of $4.55/Mcf would mean that the buyer pays $4.55 for 1000 cubic feet of gas under standard conditions of temperature and pressure.
Sold by Volume
MCF= 1000
530 X 1000 = 530,000 A Day
530,000 X 365 Days = 193,450,000
19.5 %
193,450,000 X 0.195 = 37,722,750
37,722,750 X Today's Nat Gas price 3.332 = 125,692,203 in revenue
The people in the secret room
Ok...I'll post it later on tonight...Are into the weekend. Kinda not into the DD mode. There might be some errors in it...If there are..I stand corrected. Now I'm not shooting for the down to the pennies, but I'll give you a rough one
I was kidding. They don't call me stockjoker for nothing.
LOL..Yeah, I hope they don't stop at 2.25 and take it to 1.50. I have friends who work for Hercules. I live on the gulf coast.
Correct me if I'm wrong , but the M1 well alone will bring in about 23 million a year in revenue. Just on the 19.5% at today's nat gas price
I'm starting to wonder what the other leases are worth
That is a question that can't be answered. Nobody knows, but I can tell you what I think
Nice to see that pull back...Thanks
Since you feel that way. I'll be gone, but the sad part about all of this is you call education (harassment). So I'll leave you with this.
GLTA
Most natural gas is sold by volume. The volume most often used in the United States is the Mcf (thousand cubic feet - the "M" comes from the Roman numeral for "thousand"). A price quote of $4.55/Mcf would mean that the buyer pays $4.55 for 1000 cubic feet of gas under standard conditions of temperature and pressure.
This one...I'm sorry I had a error in my statement. I said you do the math, but it said ( do the math)
You got that right. I enjoyed reading that e-mail yesterday that stated...You do the math.
Anybody on here wants to do the math?
What Wentworth?
t
I don't know why they should be upset. My info comes from 8k's and 10k's...When I was speculating...I said so
We should get it, I hate to say what tomorrow is, but I want some more at this price....
The M1 Well. Ask yourself....What is it worth? lol
I'm going back under my rock..I don't like discussing stock.
GLTA...Sometimes you have to look through the forest to see the trees
Yes we do read the 10k's
On November 1, 2006, we signed two three-year Oil, Gas & Mineral Leases and a Joint Operating Agreement with Marathon Oil Company and its affiliate (together, “Marathon”) granting Marathon the right to explore and develop approximately 9,200 acres of our mineral property in Freestone County, Texas. The agreements give Marathon the right to drill oil and gas wells and develop the property. We retain a 21.5% royalty interest in any revenue generated from property located in zones below approximately 8,500 feet and a 23% royalty interest in any revenue generated from property located in zones above approximately 8,500 feet; however, we do not currently have sufficient capital to participate in any such production.. As part of the agreement, we acquired a seismic license giving us access to all seismic data collected during Marathon’s three-year lease.
Marathon began drilling its first deep well (M-1) of approximately 15,000 feet during the latter part of the third quarter of 2008. Drilling of M-1 was completed during December 2008. The well has not been
5
perforated for production. Accordingly, it could be dry or produce an amount of salt water that would make the well uneconomical to operate. No reserve value is given to this well due to its current status.
This three-year lease with Marathon expires on November 1, 2009. Marathon has requested an extension of the lease on the deep rights (below 8,500 feet) until April 2010, with a further option to extend the lease to October, 2010. The shallow rights (above 8,500 feet) are expected to be re-assigned back to Wentworth under certain terms and conditions, so that we can re-lease to any party, including potential partners. Our potential partners are particularly interested in the shallow lease of this property as it provides the most complete seismic and production data and would facilitate identification of low risk and high probability drill sites.
I read this in the 10-K. I was speaking freely when I stated July
For the six months ended June 30, 2010, convertible debentures amounting to $132,659 were converted into 90,971,816 shares of common stock. This conversion resulted in $90,973 of additional common stock and $41,686 of additional paid in capital.
I looked more at the 90 million share conversion @0.001 than the date. I'm sorry
I have it in my notes...I believe those shares won't show in the A/S or O/S as to the terms of agreement. I'll repost what I have on that later tonight
There will be no short squeeze, the cover if any would be covered with the conversion. YA, got around 90 million in July. Its most likely what is floating around...Little at a time. You buy into the news..they float your boat.
I wanted to reply to this, cause if the correct numbers of the restated 8-k would have fell on that day. I do believe dropping the news on the correct day and we would have seen the power of a Golden Cross. With that kind of news
Yes news does drive the charts.
Agreed. I'm guessing by the look of things is to sit back and wait. 0.001 is the floor and if the hammer is about to fall, This stock would have rolled there for months before the conversion. It held .oo2 today. nobody is giving any cheap. 520 MCFD is no small potatoe. Only half of the frac was successful. That lower e-mail looks to filled with sarcasm. Reading between the lines tells a different story.
For those who are wondering
MCF
a traditional symbol for 1000 (not one million) cubic feet, a unit of volume equal to about 28.317 cubic meters.
Mcfd
a symbol for 1000 (not one million) cubic feet per day, a unit of water flow used by many U.S. water supply companies and agencies. 1 Mcfd = 19.665 liters (5.195 U.S. gallons) per minute.
Mcfe
a symbol used in the natural gas industry for 1000 (not one million) cubic feet of gas equivalent (cfe). This is really an energy unit equal to about 1.091 gigajoules (GJ).
520 is a pretty big number
Just my thought is all...It seems to me. That it doesn't matter what the stock price is. I feel its headed to 0.001 the conversion price, and may see an R/S on Nov 1st. I'm just speculating here..Open for discussion. By no means bashing. This stock is grim shape. I'm reading 11 days from the conversion date the CEO doesn't have a clue what they will do about the debt
Yes I know...I see that...My question is...With 80% ownership after a 25000/1 RS...is still 80% ownership, But have a handful of shares left and is left out of the pie. Nice to convert that debt. Do you have another way to make 50 billion shares go away?
I believe the guy owning 11 million shares needs to report to the SEC, for owning more than 5% of the outstanding shares. Correct me if I'm wrong, but I believe they do not have to show an increase in A/S or O/S for the conversion
With respect to sales designated by “Sec. 4(2),” these shares were issued pursuant to the exemption from registration
Anyone care to guess at the A/S and O/S?
Would someone care to ask David if this stock is head for an R/S
shortly after the conversion, and of what magnitude 25000/1 or is there thoughts of not issuing the shares and forcing YA to foreclose and buy shares on the open market to cover the amount of stock that has been sold. Just my thoughts is all and by no means fact