Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Well Renewal Signs Binding LOI With Team Services LLC
TULSA, Okla., April 18, 2007 (PRIME NEWSWIRE) -- Well Renewal, Inc. (Pink Sheets:WRNW), an emergent, rapidly growing diversified oil and gas regional operator specializing in oil and gas exploration, enhanced recovery methods of abandoned and low-production oil properties, oil field services, is pleased to announce that it has entered into a Letter of Intent to acquire an interest in Team Services LLC, a privately held Michigan well servicing company.
In operation since 2001, Team Services is a Kalkaska, Michigan-based service company providing comprehensive service work to the oil and gas industry. Team's main area of operations is in the Lower Peninsula of Michigan, although Team has performed work throughout the United States and Canada. Customers utilize Team for its ability to provide service work on existing wells and to perform well completion and well stimulation services. 70% of Team's current revenue is generated from service work on existing wells. Workover services include repairing various components of the well infrastructure, as well as the repair and replacement of their well components including pumps. Team's service work also includes trucking and disposal of liquid wastes associated with the service, completion and stimulation of wells. These wastes are disposed in three Salt Water Disposal wells which are owned by Team.
David Rees, WRNW CEO, stated, "We are very excited about working with Team. We see a tremendous fit on both a business and personal level with Team's management and are looking forward to working closely with Don and Tim Tinker for years to come. We also feel fortunate to have their talents available to WNRW at the corporate and strategic level."
Tim Tinker, Team Services, LLC, Managing Member commented, "We are pleased to have found partners who have the same commitment to servicing our customers that we have had over the years. We look forward to moving ahead with strategic initiatives to grow and expand our business to new levels."
Team's overall revenue has shown considerable growth since 2002, increasing from $4 million to $13.6 million (Unaudited) for the year ended December 31, 2006 with an adjusted EBITDA of $2.7 million. Well Renewal, Inc. will have 60 days to complete its due diligence and enter into a definitive Purchase Agreement.
Well Renewal Completes Drilling of Gas Wells in Northeastern Oklahoma
TULSA, Okla., April 12, 2007 (PRIME NEWSWIRE) -- Well Renewal, Inc. (Pink Sheets:WRNW), an emergent diversified oil and gas regional operator, specializing in oil and gas exploration, enhanced recovery methods of abandoned and low-production oil properties, oil field services, and petrochemical distribution, today announced it has successfully completed the initial gas wells that have been drilled on the Birdsall lease and on the Ward lease in Northeastern Oklahoma.
Mr. David Rees, Chairman and CEO of Well Renewal commented on the initial completion process, "The opportunity to drill an additional 6 wells on the Ward lease as well as 14 more wells on our Liston lease acreage has our production division moving along quite satisfactorily. The open hole log on the Ward and Birdsall gas wells, that have already been drilled, show significant possibilities". Mr. Rees continued, "Northeastern Oklahoma is prolific with coal bed methane and Well Renewal has staked its claim to this largely underdeveloped Northeastern Oklahoma Shelf."
As the continuing completion documentation becomes available, WRNW will continue to update the results. WRNW is pleased with the anticipated 150 MCF per day from the initial wells and will upon the completion of a minimum of 15 wells on the Birdsall and 5 additional wells on the Ward expect in the region of $2,000,000 in further annual revenues from these leases. WRNW also expects up to 50 bopd from the same leases and if successful would add approximately $1,000,000 more in annual revenues.
Added a few hundred k more today. Thanks for the cheap shares!
See ya all Monday.
wtc
Strato,
Excellent post. For us longs either go and enjoy your weekend or if your glued to the monitor put up some good dd.
Fair enough Nervous. I have dry powder waiting for the news. If it's what we all hope for I'll be loading the cart again.
If not I'll keep what I have and wait for Tom, Geo & Clayjay to hit the next one.
GLTA
Nervous you almost seem as a paid basher...Getting on our good side and then instilling doubt at the end. Good luck to you and all.
Top, I don't know who that blonde is on your message...I suspect a Greek towel boy...LOL
If we do dip I will be adding to my Pile! Sitttin on ~ 6.4m shares and have not sold a single share. No doubt in my mind we have the goods here.
Let the weak dichs / flippers run. They got no brass.
See ya all tomorrow.
wtc
Geo,
You better watch those meds...They are loosening you up a bit LOL.
Like wat I hear though.
wtc
Gone for almost a week and up ~ 50%. Nice work Fellow Longs. And all this with no news.
Guess I leave for another week!
GLTA
WOW...I have been out of touch for the last 2 days. Come back and we got the rig on site and LOWMAN's back posting.
Once we get any positive production numbers we will start the upward trend and the agonizing wait will all be worth it.
For any of the new people checking in, make sure to go to the EDEX website (http://www.eldoradoexploration.com) and watch the Video of the CEO Discussing the Potential of this Company.
To All the old timers here. It is time to post relevant information to help the new lurkers make a decision. As most of you know LOWMAN now has over 700 people watching him.
Kewls, Raise your bid 5 tenthousanths and help the team break the wall of .013! GLTY
with all this great news we should see that nickle mark verrrry soon!
Just hit the .01 mark!
Folks if you have not loaded your cart yet you will be missing out on one heck of an opportunity here.
Do the DD read the PR's...We have a legitimate winning company here.
wtc
Here is a repost lowman put up recently for all you new people that have not got back very far in the posts..
Posted by: lowman
In reply to: OTC BB King who wrote msg# 3477 Date:4/11/2007 9:04:36 PM
Post #of 6553
15 bagger is being rather conservative, staying on the safe side.
So's not to be misunderstood, a strong PR could take WRNW to .10-.15 in short order, but as far as sustaining .10-.15, and then progressing from there, it may take a few extra months.
Much like the recent NVMG run of late Jan/Feb. that went from .0019 to .0255, constituting a 13 bagger in 3 weeks. After the dust settled, well...give NVMG a little more time and the proper news, it should be testing it's recent highs again (keep that in mind ).
There's a way in which all of us early buyers can profit quite nicely from this run, without leaving anything on the table, if people listen up:
It is highly unlikely anyone is going to be so fortunate as to unload their several million share position at .15, all within the next 30-45 days. Don't even dream about it. Life just doesn't happen that way, and I'll be the first to keep your two feet on Earth.
I strongly suggest to those who wanna ride this cycle(?) out, to simply 'scale out', and down to a final LT core position, slowly taking seed money out first, and then whatever is befitting for profit. (Remember, other stocks will look enticing along the way, so don't deviate from reality, thinking WRNW will answer all your prayers.)
The 'goal' is to build up LT free positions in choice plays. Anyone who wants to 'try' telling me there is no such thing as choice plays in pennyland can GTH as I hold my comfortable free positions in CTUM, NVMG, and HMGP (btw, watch HMGP tommorrow).
Back to where I was going:
The NVMG chart was excessively volitile because there was so much uncertainty combined with bashers and flippers up the wazoo.
The HMGP chart was the anti-thesis to the NVMG chart. There was near-nil bashing, near nil uncertainty and flipping, and near nil volitility.
It is my strong contention that WRNW has the potential to be a comfortable mix between the two, IF people do NOT get overly (lol) greedy, but instead, trade with discipline, thereby maximizing timeframe x gain. Scale in/out and pick up on other plays along the way, so's to 'add to the spice of life'.
Of course, my suggestions only work for the LT investors. WRNW has many flippers already with positions, of whom my suggestions will only fall on deaf ears. At any rate, I do my best to maintain sane. intelligent buying and selling.
Let's shoot for a Hemi-like chart here, people.
GLTA and Go WRNW!
--------------------------------------------------------------------------------
L~
"'took me 3 long years to make a million bucks overnight!" -anon.
Luck comes to those most prepared for it!
CSMG, et al; - $35.00 by 10/31/08
Last trade for a whopping $12.35!
.0099 just printed
I just picked up another nice chunk @ .009
Have mm's on the bid @.0125 and wont take much to get through the .13's today. After .o15 the next mm is @ .02.
Gonna be a great day without the PR. IMO
Hemi is the safe money play. Take profits from the others and park it in Hemi is my plan for now.
I liked the message I read that the phonlines were so busy that the interviewers tracked Down Raj & Joe as they were leaving the building and had them come back and do a second segment. This is where the real meat was.
I look forward to listening to the interview on the archives in a few days,
First trad @ .0115 for 15k now at .012 w/ 624k
I like that Idea. Also should be a paid Ihubber! Just my 2 cents
All I can say is Holy SH*T! Glad I'm long on a few mil! Looking for funds to buy another!
As LOWMAN SAys Let's not Gap up Tomorrow!
GLTA
YEEEEE HAAAAAW!
Looks like we are in for a nice close on decent volume. It's bee awhile but worth the wait.
IMO this is the begining of our way up to .03.
GLTAL's
Over 1.3 million shares traded. Here they come boys! Get ready for the reward of patience here!
I still count on the $1.00 dividends!
GLTA
Don't rub it in to the new guys! Thats just wrong..LOL
Lowman,
You better start your own newsletter! LOL
Green, I concur. This board was a great place a week ago. In the long run the exposure will be alright for us IMO.
GLTA
My prediction... Close @ .0125 with 100m plus shares traded!
Great advice Top. Gone for today with no worries here. We have a rock solid life changing company here for those willing to ride it out intlligently, selling when appropriate for thier long term goals.
Green I have been here buying since .0046 and have not sold 1 share if my several mil. position. I also added all the way up and my last by was .0085.
GLTY
Nice open today. 93.5k and an uptick to .074.!
.011 and rising! Let's get to tha .013 zonE
Penny, You are correct as my target to sell ~ 20% of my holdings will be @ .06. Holding the balance to high teens selling another 30%.
GLTA
Set your site a little higher to about .07+ and you are in the zone. With additional news expected watch it bust right through a dime. IMO
Interesting it now shows but @ .0085 as last price! MM Games Stink!
Just bought another 165k @ .009. It has not shown yet??
Lowman, I remeber early on with hemi you did an informal survey of the longs holdings via PM.
From what I can see this board probably owns @ least 150 million shares.
Do you care to do an informal survey here?
I am looking forward to share prices of Hemi (HMGP)here within 6 months!
GLTA
wtc