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Well this is getting fun now. Oiljob
P.S. : I'm not sharing my cooklies, I don't care how much they beg.
P.S.S.: Time for this stock to reach for its' all time high, we should see .06 or .07 cents a share on any good news this week.
Sounds like a bunch of Johnnie-Come-Latelys to me (800,000 shares wanted for a nickel a share !!!!, not in this lifetime)... I wouldn't sell a share for a dime. Oiljob
Although I'd be happy to log a dime into my portfolio as my per share value. lol
This should be a very exciting and profitable week, good luck to everyone and may all your holidays be happy ones. Oiljob
Chit .. as with all drilling it starts with the data. Once we identify the hotspots, I presume we would see if any islands provide a feasible basis (or platform) for drilling the structures. If we can find oil in Belize, I can guarantee we can find much more offshore. But it all starts with finding oil onshore. But to answer your question, I presume we would try to get financing first and a partner second.
Remember, we got more partners (that's what an overriding royalty is) and new Board members when we bought out Paradise, but Paradise is all onshore; the offshore concession is all Princess, and we kind of work for them. The Paradise boys would be getting a little of that action too (because they own some of our stock and sit on the Board). Now, to bring in even more people, well, it just starts getting hard to manage. Plus we have local politics and politicians to deal with. Nothing is free. Oiljob
We would definately need a larger rig ... a rig capable of drilling 16,000 feet. With a rig and an island who needs new partners.
Just surmising, I have zero facts.
P.S. Happy Holidays. I always enjoy your posts.
Question: Is that Kimano Barrow strolling over to check out the drilling progress at Treaty Energy No.1? (See Face Book pictures, right after the one showing the little female Belizian "cook") lol
And here is an old Belize story (6-20-2010, Belize.com Blog) regarding off shore oil production estimates, it's time to start thinking LARGE:
Belize Offshore Oil Could Gross 2 Billion A Year
June 20, 2010 By bz-admin Leave a Comment
Interesting news out of Belize says that the controversial offshore oil drilling program could gross almost 2 billion dollars a year, according to local press reports published in Belize this week. The Director the Belize Petroleum and Geology Unit Andre Cho made the assessment in a presentation to the Belize Cabinet on June 15. That estimate, said Cho, is derived from calculations based on what is known of the geology of offshore Belize.
Mr. Cho told the Amandala newspaper that 16 offshore wells have been drilled, some by big-name companies such as Shell, Esso, Texaco, and Anschutz, at places such as Turneffe Atoll and the Basil Jones area of San Pedro in Northern Belize, between 1958 and 2007, the deepest going to 16,000 feet at Palmetto Caye. The operation there, as was the case with two others, found live oil shows (as opposed to dead oil shows of crude that had already been deteriorating and so not favorable for exploration). However, when that finding was made by a company that went by the name of Phillips, there was no production testing.
There is still no indication from the Government, that there is a move to establish a policy of making certain parts of Belize off limits to petroleum exploration, despite the call to the Government of Belize by a series of organizations and individual activists, which have formed the Belize Coalition to Save Our Natural Heritage, to ban offshore drilling as well as drilling in protected areas of Belize.
Read more: http://belize.com/blog/belize-offshore-oil-could-gross-2-billion-a-year/#ixzz1ekeI8ZWp
Dear Santa: North Pole:
Yes, I would like , if you don't mind too much, to hit on my first ten wells in Belize with multi-zone production of at least 3000 bopd. Thank you Santa.
P.S. I don't want any old coal in my stocking; Mom says it's too hard to wash out.
I think it's time for the company to declare a "Map Dividend" (a geological and political map of Belize). Every stockholder would get a map and a small box of black pins. Every time we hit oil, we could stick a new pin in our map. Oiljob
Little black gold Christmas presents.
Cool ... the rules of hyperbole require you to name your teams ... like one could be the U.S. Yankees .. but I'm not gonna steal your thunder. Oiljob
Obviously the kickoff has occurred but what quarter are we in. Does the TD come in the first quarter, .... it's a really cool game though ... and the crowd is on tenderhooks.
ORO NEGRO .... Hope and change you can believe in. Oiljob
P.S. Good luck this week Treaty ... and CEO needs a bigger truck.
When Fidel dies, this stock should perform spectacularly. That's my bet. Oil job
Do we have a right to Crow ... yes ... Do we have a right to Dream ... yes. We are 'Long" shareholders that have been around since we dreamed about a little block box that produced pure hydrogen, and commercial quantities of other industrial elements. We have seen so many bubbles burst, that now, to see Reid plow through so much red tape, and keep this company on track and produce so many tangible goals in so little time, that I have every hope, and dream (nightly), that Mr. Reid will become an urban legend, and all of us wealthy.
We have waited so long, we could not be set-up again, or any more disappointed that we have been in the past. This is already a dream come true. We are so close, and the goal is so close, and our investments so secure; Belize is just the frosting on the cake. GO TECO. Oiljob.
The time is right: "OCCUPY PGI Energy" Oiljob
A reverse ... no way. I've never made money on a reverse. Give me more horses runnng any day and keep increasing the quarterly profit. That is how Mobil, Disney and Qualcomm did it. Everything depends on hitting the oil, whether in Texas or Belize, either will do, just show me the money and forward split me. Oiljob
P.S. Then spell "Millllioneairrre" lol
P.S.S. Though any stock buy back program works for me too, so long it is in conjunction with my overall program ... wealth building.
P.S.S.S: If you get the corporate attention and investment it really does not matter which exchange you're on because the money is coming in to drill out our programs, we are no longer raising capital with our Tresury stock or by issuing new stock. I prefer one million shares at a dollar over one share worth $1,000,000.00. Stocks split on the larger boards to keep them cheap enough for the common man to buy .. allowing us to mingle with the 1%, i.e. Berkshire Hathaway.
It's a BEAR TRAP, and the trap has sprung. Oiljob
Good job TECO .... long and strong... find me that new Belizean oil field, buyout BNE, and let me know what the new drilling schedule is in Texas ... that would make for a good PR right now. lol
Personally I'd like to drive through Nickel-Town on the way to Dime-Land County today. Oiljob
Wow ..... hit oil, the stock jumps to $.25 per share, then we get a 3 for 1 "forward" stock split , and I have 3X as many shares worth twice as much, $.08/ share, as the shares are now worth. Oiljob
So if you have 1000 shares worth .04 now, you would have 3000 shares worth .08 cents apiece, post stock split. Nice Xmas present.
No more questions, no more dreams. lol
I'm going back to my real job now. lol
Providing we hit oil in November, then a really cool Christmas gift would be the announcements that we are gettng a 3 for 1 stock split and the company will be using at least 25% of the Belizian profits to buy back our own stock, filling our corporate treasury for future deals in Texas. We need to get both off-shore cooking and some good-ole-American fracking down in Texas or North Dakota. Oiljob
I don't want all our eggs in one basket.
Some horizontal drilling sounds good.
Everyone is invited to add too our collective understanding, but not to our mutual animosity. Oiljob
Personal attacks will not be tolerated on this Board.
It is possible to disgree and be civil at the same time. Oiljob
I just read the comment on Facebook. In reply, the conductor pipe is all that is installed so far. The conductor pipe is what you attach a BOP to, but would not be needed until you are ready to drill out the shoe and finish the well to depth. Right now its jut a piece of pipe running into the ground to a point beyond the water table and cemented into place. I haven't a clue what his problem is. Every well is started with a big hole opener; I think we have merged the conductor pipe with the surface casing operations, only because our wells at this location are so shallow. After drilling to total depth of operation, each well will be logged and cased, then perforated if we have found commercial quantities of oil. Maybe the guy is a mud engineer and he thinks you can't drill a well without all the peripheral mud equipment. We need clean mud if we are drilling with mud but there is more than one way to skin that cat. Oiljob
Inching up ... is better than inching down. Oiljob
I'm getting my passport renewed this week, I'm obviously going to need it. Good time to introduce my son to the third world too, hmmm two passports needed .... and, Mom ain't gonna stay home with the boys gone... so little wifey makes three. Oiljob
How do I put Junk on Ignore? Oil job
Chit: Rina's storm track has changed radically in two days. That ought to slow things down. Oiljob
Good post , thanks
Good job Cool, actually I think t is all of us who will be buying you the beer someday. Oil job
Blind, I like your style, good post.
AllBetson, I was surprised to hear the surface casing was installed and cemented. Maybe we drilled through the shoe this morning and working now on completing a well, but I doubt it, it sounded like we were waiting on collars or some other needed equipment. Mid to late November Is a definite possibly. Oil job
It means people need to think outside the box. Oil job
It means there could be more than one explanation for the phenomenon we are witnessing... It is called price management.
As long as insiders continue to accumulate then much of what we are witnessing on the trading floor might be explained by a review of the trading records at Basco's investment firm and at Level III. Just food for thought. Oil job
I think Treaty is a Bear Trap. Oil job
It,s days like today I wish there was a pink sheets options market. I'd buy the out of the money $.05 Dec. I, 2011 calls today, I wonder what 1000 contracts would cost?
From this point forward today all trades will be in excess of our average daily volume. Somebody is showing some interest. Oil job
People have been interested in seeing some momentum, well it has begun to arrive now.
Geo might have been right yesterday, if we have to wait for equipment to complete our wells then we could see downward pressure on the price through 11-15-2011, meaning this might be a good time to augment your positions if you are so inclined and have the available risk capital.
It looks like the shoot-out at the OK Corral (Tombstone, AZ). Oiljob
The chart looks like competing computer programs to me. Cool's analysis is probably closer to the truth, I don't trust the "official" short interest posted either. Oiljob
Day traders and profiteers ... but a series of bearish closures could at best be termed a pyrrhic victory where the final result is a commercial oil field in Belize. The bears would be instantaneously devastated. I can see even shorts taking some off the table here. Oiljob
Even if Cool's short analysis is right, how many shorts are we dealing with 1-10 or 50-100. It makes a difference (for our short run price high water mark). We could see shorts covering and 50-75% of the shorts are still out there, shorting 12 other stocks to cover their losses on their TECO position. There are simply too many pinks to short. Only fundamentals can stop them ... and then they simply move on to the next pink victim.
P.S.: This is my last technical analysis post; I'm not gonna reveal my ignorance any more than I already have. The shorts are like a virus, and better rules need to be adopted to maintain stable small-cap markets at least.
I'm gonna laugh if we close up on a normal trading day, i.e about 1.5 million shares per day. Oiljob
Dlog: All unknowns right now. How big is the field, what is seeping, how much is seeping, how long has it been seeping (a thousand years?), what is the physical geology of the field, etc.
Oiljob ... Time will tell
Seepage could also mean we are looking at the tip of an iceberg, I'm keeping me fingers crossed. Things are looking good.
If the seepage rock is the only productive zone in the field, then the field could be ruined by the exposure. Oiljob
i.e We would have oil but not in commercial quantities. This would be a worst case (and highly unlikely) scenario.
Not really, the oil bearing (seepage) rock could just (simply) be exposed, it could be just a few feet thick, gravity could be the operating force.
We are hoping for multiple zones of production of protected light sweet crude, at very shallow depths, anything less than 2500-3000' but there is no way to know for sure until we core a test well and look intimately at the rock through a microscope. We might get some micro-paleo data that would tell us about rock then (later) encountered in future wells.
The same seepage rock here, could be several hundred feet deeper and capped off (and under pressure) just a few hundred feet away. Its called a fault, one block (of rock) moves up or past another, or even on top of the same rock. You could produce several pay zones from the same rock in the same well, where faults have imbricated the lithology like a deck of cards. Oiljob
It would be nice to think there is a little caprock between the seepage and our initial commercial grade production zone. It never hurts to have a little pressure to assist the production.
However, even with the BNE fields (just looking at pictures and video), they all seem to have pumping jacks working each well.
I've never heard of a blow-out in Belize. I'd like to hear that the well "kicked" a little while we were drilling and we really needed a BOP. Oiljob
Nice post Blind ... and one of the reasons we (may be) are drilling such shallow initial wells is just to get over these initial environmental Belizean hurdles. Get signed off as quick as possible and then its balls-out come the dry season. Oiljob
This Board is working like a team now. Oiljob
Pretty slick.