Re-read the post please.

It would not be difficult at all to predict an increase in PPS when you are as low as you can go. (other than bankruptcy) Their is only one way to go. For you optimistic folks out their, I hope your right! Is ungs getting stronger?.....perhaps... but we have a long, long way to go to just get to 1 cent.

Unfortunately, it maybe "cool" (ego) to own millions of shares, however the realization is that they are as close to worthlessness as posible.

Many penny stocks have no income or assets but are trading at many pennies per share. Ungs does have physical assets but the shareholders have beaten this down to nothing. Shareholders mentality in this equity is the biggest challenge.

If their was some insider info available that was positive, than the 300,000,000 shares that were on the ask @ .0002 on Friday would have been purchase immediately. Thats only 60,000 dollars! I guess I am not very good at handling BS.

I don't follow your logic that pps will improve simply because they are upgrading to OTCBB. Ungs has been here before. (Although this is an improvement.)

I do hope (wishful thinking) you are right. The only activity that will move pps is profit and a reduction in outstanding shares which are at present being diluted, or a buyout.

For those who do not believe this is being diluted, I suggest you review the last PR which states "this purchase should stop the continued dilution of shares". (paraphrasing)

In addition, since they lost their partner in this purchase, (which was suppose to be final in December.) they are probably in need of additional capital to cover the purchase, since they are going it alone.

On the bright side, at least they are trying to improve their situation. Their only course of action in which to raise capital is to dilute. Grow or die?

The worst part about ungs is their share holders who continue to beat this stock till it cannot be beat down anymore. Capital could have been raised quicker with less dilution if we were not .0001

Those pesky .0001's. Where are they coming from????? Tallying up the share sold in the last few week, we must be up to about 4.5 billion shares by now! Heck we have to buy more shares just to absorb the upcoming reverse split. I know lets do a pool! Closest guess to new o/s shares gets to be labeled a realist.

What do ya think?

oh,..........I see, folks just wanting out. Not for profit sellers who have given up. Ok!

Hmmmm,.... I wonder where all those .0001 shares are coming from everyday?

I hope that we are not so starved for good news that any news is considered positive. I see nothing in todays news that would convey this is good news or bad (I hope it is good news...... However???)

Did they sell because they need some fast cash. The remaining 700,000..how long before before this amount is realized?

I just do not understand all this enthusiasm with such little info. I will wait for more news. Was this sold for a profit or a loss? Do you really know? I suggest slowing down the bus!

ungs perhaps? Dilute, dilute

A buy back of shares does not produce free shares. What are you thinking? I don't get it!

How do you get free shares out of a stock repurchase plan???????

It looks to me like they are on their way to selling another billion shares. This will only make it much harder for the pps to increase. The upgrade to full reporting will not increase the pps in my opinion. They have been full reporting before.

Scottrade shows 3.3 billion outstanding. Recently increased to 9 billion authorized shares. Perhaps it is part of the remaining 5.7 billion? More dilution perhaps? Lets wait and see what Chetra 744 has to say on this topic.

Chetra 744, what is your opinion on where all these shares being sold the last few days are coming from?

Geeeeez.............I wonder where all the .0001 are coming from?...............Hmmmmm?

Maybe the shares being sold are not coming from sells of other traders, but rather are coming from the new authorized shares of an additional 6 billion. This tactic has been used in the recent past to raise capital.

Over the years this stock has been beaten down to nothing by the shareholders. Unfortunate from my point of view. How many shares one owns is meaning less if they are next to worthlessness. Selling more shares maybe used to purchase more aquistions, however in doing so they are diluting the stock. (kind of like the fed printing more money)

100 million shares is only 10,000 bucks. Unfortunately they have no choice. Grow or die. (one billion shares only equals 100,000 dolllars of capital.)

At some point I would expect a reverse split of 10/1 or 20/1. This could still be a good investment after the split. It will depend on how much, when they consider shareholder value.

Well than why did they increase their available shares to 9 billion recently?

yes, lets continue to dilute UNGS!!! Lets go to 5 maybe 6 billion. Better yet lets take it all the way up to 9 billion. Cannot wait for the reverse split.

Is patrick still their? He no longer answers e-mails and the last info letter......., I did not see his name.

The question is, who is buying. Hmmmmm I think we all know.

Patrick no longer answering e-mails. Is he gone? This sure has been a disappointment.

Hopefully the additional funds are being used to purchase latest aquistion prospect or update wells.

Historical data is not hype it is fact. It shows potential. When you consider making an investment in a company, do you not make your decesions based on potential? An educated guess perhaps? Investor or CEO the decision is the same.

We should all realize, including yourselves, that 97% of business fail in the first 3 years so odds are stacked against us all.

Have you ever started a business? I have 3 times. One failed the other two have been operating for 15 years. The point is, it is not easy at all to start and maintain an operation. Do you have any experience at this?

Please continue to point out the inaccurcies. It is easy to get caught up in the hype, including yours.

I believe dulition will continue to help raise capital to "invest" in these wells to allow them to be profitable. Until revenue is realized I would not expect to hear any news.

The duliton is disappointing, but the alternative is worse.

Mr. Anderson will benifit financially much more from his shares than from salary. Incentive perhaps?

Now let us use a little bit of your own logic. Mr. Anderson has authorized a salary increase. (200K I think) Is he receiving it?

Blackhawks/Terry You both know that the sticky was corrected to "PREVIOUS" oil confirmed by sterv. Geeezzzzzzzzzz

ok

Honest mistake and it has been corrected.

The recent purchase agreement............do you think the dates were a typo? 3/16/"eleven"

No not kidding. I do not believe he intended to mislead. Your are simply more skeptial than I. Nothing wrong with being skeptical as long as it does not consume your thought process. I can understand your skeptsism, I just don't agree.

It is to bad we have to go to these degrees to find out about our investment. Probably should pull the plug perhaps! but I think I'll hang around for awhile. How about you?

Snowcat9

No critisim intended at all. I am glad you took the time to do the dd and post it.

Thanks

What is troubling me is the dates. 2011? Is it a typo just like the UNGS typo.???

http://www.sec.gov/Archives/edgar/data/1448695/000101376211000954/ex1043.htm

Hey Mastertrader, Can you confirm this 200K purchase on this most recent aqusition? As I stated the well #'s etc. are the same as stervc stated.

Is stervc DD from an aquistion from a year ago and "not" the one this spring. According to the purchase agreement these well numbers were purchase a year ago according to the dates of the agreement that I found. (03/16/11) Can someone with better surfing skills on the internet confirm?

Thanks,
Snowcat

yes I believe you have tried to state this.

Acquistion cost 200K?? Fooling around with google and typed in E-3 oil & gas Kentucky and came accross "unassociated document" Appears to be the aquistion agreement with Madison Brothers.

All permit#'s and well#'s match up with stervc DD. Problem is the document is dated 3/16/11 not 2012. Typo??? who knows.

I had not heard this discussed on board. (the 200K) If it has please disregard.

In Stervc DD which is titled "UNGS oil production#'s confirmed" is misleading because "as he stervc states".... production numbers were back when permits were originally issued.

The DD is good (imo) however should be titled in a different way. This seems to have been overlooked by many. Suggest changing title of DD.

Regards,
Snowcat

Certainly possible. Could also be folks thinking more about a 3 day weekend. Next week will tell if you are correct.

I love Blackhawks! You do have a sense of humor! What a relief.

Regards,
snowcat

The reason I asked is because I don't know. Geez

You will never get your investment back with this action. You will however, perhaps suspend trading and prevent others from investing if you think it is a scam.

Could you show me what legal (not moral) obligations ungs has in reporting activity?

Thanks,
Snowcat

Hey Blackhawks! I actually agree with you on this one. But lets not get crazy. I'll give ya something to chew on now.

Assuming dulution has occurred, the funds must be needed to grow/continue operating the company. It does not matter how we got their....we are their.

I personally believe the funds are being used for aquistion and well improvements. I believe once revenues increase they will then try to buy back shares.

I do not expect any significant news until this happens. This way they can buy back shares cheap. Once they reduce the OS I believe then you will hear significant news which would hopefully increase pps. Seems logical. Take it away.............Blackhawks!!

P.S. I had a conversation with a gal from Kentucky oil & gas and she was familiar with the relationship between ungs and E-3. I did not bring that up, she did.

Sorry I posted some speculation, I could not help myself. ooopps!

Thanks for the info!

I believe the number was 400K. It was only an intent to buy back. They did not state they had the funds, if I recall.

160 million shares might sound like a lot, however you are only talking 32,000 bucks @.0002