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he left oedv before the share price started to rise. the best possible scenario is if the whole management team right now for WGAS was kicked out but they still kept all of their assets
Wgas closed up because of the slme news on mustang lol. which WGAS does not own now. it closed at the low of the day. if it closed at the HOD i would agree with you belgian
wow did Mason really jus walk away with mustang and leave WGAS shareholders out to dry. how are you guys not ultra pissed off right now. If this was any sort of good news behind this it would have been already released.
does it worry any of you guys that mason did not confirm the news? just wondering
i only own a a very small amount of shares and im still fixated on this board and the stock. mason should release something for you guys at 10:00
congrats you guys looks like i was the weak hands if this goes up to 1 cent. you guys where right. if you do the math thats 178x95=17k in sales or 178x110=19.5k in sales. they dont tell you what price of of oil it should sell at a premium + 2,900 in nat gas sales.
thats why i panicked sell now at least im still alive. and have a chance i got off the sinking ship and i am holding on to a piece of wood to keep me afloat while i try to find my way back to land. so far in my eyes i made the right choice i would need this to get back up to 0.0089 to get back to where i am now. and 0.015 to break even. if i never sold we would still just be on steady decline
seeing all the crazy conspiracy theories posted on the board they get more wild by the day like what happen with IR and Carlo? and the Ibox that was funny
i find it funny/sad/compelling that i started this huge extra commotion and coverage of WGAS , if i did not sell what is the pice today? 0.008 or 0.007? and we are still on steady decline. when i sold i slapped every bid instantly small and large and my final sell was 0.0062 for average of 0.0078.now since im pancic selling why did it not bounce that day or the day after that. yes there was 5.5 million at 0.005 and 0.0051 bid but some of that got filled and WGAS did not even bump off those lows..
reading the ibox Wgas i hub page was great stress reliever lol you should not have changed it
i have seen alot of posts of flippers making fun of scared retail well i got at at 0.0078 with 1.1 million shares so thats 8,500$ if i held one more day it would of been 5,300$. at 0.0048. You guys had 5 million in bid support and it could not pop off the lows. back when it was 0.0036 in summer 5 million bid support would of popped this thing up quickly. it was down another 13% and actually 20% with after hours. any other stock that had a huge decrease of 60% over 2 days like this would have at least a small market correction the 3rd day. i really doubt retail sold yesterday. i would need a 70% increase just to get up to where i sold. and im already up 22% on my new adventure. so would of need around a 100% increase to get back where i am now.
Data thx to Roy, Market Value1 $25,429,395 a/o Nov 02, 2012
Shares Outstanding 47,979,990 a/o Aug 13, 2012
Float Not Available
Authorized Shares 100,000,000 a/o Aug 15, 2011
Black Ridge Reports Record Production Growth and Positive EBITDA for the Quarter Ending June 30, 2012
MINNETONKA, Minn., Aug 14, 2012 (GlobeNewswire via COMTEX) -- Black Ridge Oil & Gas, Inc. (formerly known as Ante5, Inc.) ANFC +8.16% today announced revenues of $1,380,524 from sales of crude oil and natural gas for the three months ended June 30, 2012 compared to revenues of $250,590 for the three months ended June 30, 2011, an increase of $1,129,934, or 451%. These revenues are due to the drilling and development of producing wells.
For the six months ended June 30, 2012, the Company reported revenues of $2,046,730, an increase of $1,699,200 or 489% over revenues of $347,530 reported during the six months ended June 30, 2011. As of June 30, 2012, the Company had 48 gross (1.83 net) producing wells, and an additional 11 gross (0.39 net) wells that were either preparing to drill, drilling, awaiting completion, or completing, compared to 11 gross (0.45 net) producing wells, and an additional 13 gross wells that were either preparing to drill, drilling, awaiting completion, or completing as of June 30, 2011.
Second Quarter 2012 Highlights
-- Quarterly revenue of $1,380,524.
-- For the six months ended June 30, 2012, production was 25,561 barrels of
oil equivalent (BOE), an increase of 21,701 BOE from the six months
ended June 30, 2011, representing a growth rate of 562%.
-- 97% of total production was from oil.
-- Positive Adjusted EBITDA of $537,771 in the quarter ended June 30, 2012,
an increase of $735,099 from Adjusted EBITDA of negative $197,328 in the
quarter ended June 30, 2011. For the six months ended June 30, 2012,
Adjusted EBITDA was $507,964, an increase of $859,183 from Adjusted
EBITDA of negative $351,219 in the six months ended June 30, 2011.
-- On April 4, 2012, the Company entered into a new Secured Revolving
Credit Agreement with Dougherty Funding LLC with availability of up to
$10,000,000.
-- As of June 30, 2012, the Company controlled approximately 11,213 net
mineral acres in the Bakken and Three Forks formations. In addition, the
Company owned working interests in 59 gross wells representing 2.23 net
wells that are preparing to drill, drilling, awaiting completion,
complete or producing.
Jet rink research Paul Silver of Wall Street Resources interviewed Black Ridge Oil & Gas, Inc.'s CEO Ken DeCubellis, in November of 2012. Here is the transcript from the interview.
Question: You have many years of experience working with large, traditional energy as well as renewable energy companies. How would you compare those experiences? What was it about Black Ridge that attracted your interest?
Ken: Working at Black Ridge Oil & Gas is really the best of both worlds. We are a vibrant, start-up company with a great team of entrepreneurs and subject matter experts. It is a lot of fun working with this team and in this environment. Plus, the return potential in the oil play in the Bakken is incredible. We have an opportunity in the Bakken with our business model, if we execute our strategy, to return a significant amount of value to our shareholders.
Question: 2012 was really the beginning for Black Ridge Oil and Gas. You have made enormous progress in a very short period of time both from a production/operation as well as a financial perspective. Can you go over the major accomplishments?
Ken: Our relationship with Dougherty Funding, LLC and our $20 Million Credit Facility is the biggest accomplishment the Company has had in 2012. As a non-operator, when you get down to it, we are really just a financing partner to our operators. So, obviously, having access to low cost capital is critical. Also, with our second quarter 2012 results and our production estimate of 300 BOEPD for the third quarter of 2012, we are developing our leases at a rapid pace and are cash flowing. This growth rate has been nice to see this year and it demonstrates the value of our business model.
Question: As a Bakken-focused company, what trends are you seeing vis-à-vis drilling costs and activity? What are your expectations over the next 12-24 months in the Bakken?
Ken: The good news is that we are seeing drilling and completion costs come down. Our operating partners have prioritized this and we are beginning to see the results. I expect AFE's to be in the $8 Million to $9 Million range for 2013. At these levels and 500,000 EUR wells, we would anticipate making 3X cash-on-cash returns.
Rig counts have pulled back into 190 range, which is below the peak levels we saw earlier in the year.
Older, inefficient rigs have been retired, which is a good thing. We are also seeing more downspacing in the heart of the play, but I don't expect a big increase in downspacing until additional takeaway capacity is added in the 2014/2015 timeframe.
Question: How would you describe your overall strategy? How are you different from other small cap Bakken companies?
Ken: First, we are a non-operator and we have no plans to alter the business model. We believe that the inherent low cost structure in the non-op model will give us superior returns over the long term. Secondly, active portfolio management is a critical part of our business philosophy. We are not taking a shot gun approach to the play, but instead are laser focused on specific geographies and partnering with specific operators. As such, we believe we can achieve better than average Bakken returns over the long haul.
Question: Can you address your capital needs as well as the status/timing of moving up to a major exchange?
Ken: We currently have sufficient capital to execute our development and growth plans for 2013. Regarding moving up to a National stock exchange, that is definitely in our plans. We would qualify now based on the two year operating history standard subjection to completion of certain prerequisites which we believe we will be able to meet. However, I want to take a measured approach to this. It is important that we execute on our plans and demonstrate the rapid monetization of our leases into production and cash flow so that when we migrate to a National stock exchange, we have significant momentum behind the company.
Question: What is your opinion on the price of oil?
Ken: I have a very bullish view of oil prices in the next 3-5 years. The last four years have been challenging for the global economy, but we are beginning to see positive signs of economic improvement. I remain upbeat that the folks in Washington DC will find an acceptable resolution for the fiscal cliff situation so that we can keep the positive economic momentum going.
but the other 4.4 million was probably debt conversion
at least i can still make that money back with some luck and hard work
i am the reason for the sell off yesterday i saw my overall 16k investment shrink to 10k i was sick of averaging down so i made the decision to fire sale. i sold a total of 1.1 million at an average of 0.0078. im sorry everyone you guys mean good but i could not risk 16k going completely down the drain. i got out with a 45% loss. I found a new domestic oil company now that i like alot better. that actually has revenues lol. GL everyone i still have around 10k shares left in WGAS now i need it to hit 80 cents to get my investment back. even after i was done selling the price still did not recover even a little which should tell you a lot.
also in my research i found that ANFC get paid up to 6.5 million if real money online poker is legalized. its a small world because i made my money from being a semi pro at online poker. and have been an advocate for real money online poker since black friday way before i knew of this stock. REal money online poker will be legal in New jersey by the February 7th as long as christie does not veto the bill just a heads up for everyone. im a member of the PPA and have been following this very closely
i got 12k shares at 0.64 today im glad i found this early looks like only a few people know about this stock right now
haha yea i will be looking to get in before the Q thx for your previous posts with all that info
from .001 to .007 lol?
yea really evenif you are a flipper you cant even make money on this thats how much of a one way downward spiral it has been
well maybe energy XXI will will post 10,000 BOPD potential for Vm-179 and that will increase value in our asset lol doubt it though.i am surprised mason has not tried to at least pump this. thats what ALL CEOS do when they have major dilution on the horizon
wow this company is way under the radar. hardly no one posts on this board. This company has the potential to be a huge growth story. The ceo has tons of experience from working with exxon for 10 years. Insiders own 54% of the shares. Their where insider buys as of jan 28th the float is 22 million. no signs of dilution what so ever. they currently has a positive Ebidta . increased revenues quarter after quarter. the only thing is the reverse split but the CEO has stated he wants to uplist to a bigger exchange. am i missing something?
also when is the next 10-Q due because they did not file one last year and maybe they are trying to uplist to the nasdaq or NYSE?
im looking to get in but what scares me is the reverse split why are they doing it the company is doing fine as far as i can tell from the Qs
yea your right i really thought we would get decent results on mustang by now form SLME or WGAS or Dominion . i dont know whats up with the bid/ask right now since major dumping of shares going on below those numbers
reading the 10-q it looks like the next round of major debt conversions does not come until march. also Lajolla LLC key date was jan 25th and asher were permitted to convert on jan 13th which is why imo we had that huge volume day that friday. the next day for asher is march 12th. it does look like the debt converters would want this to run in February so they can get more money for conversions in march.
i would like to reiterate that the oil that comes from mustang sells at a premium to WTI. because it is from the gulf coast and does not have to go through Cushing OK and the grade of it is API37. so we are looking at 110$ per BOPD
we will find out if dilution has slowed down or not now with that 880,000 bid at .0103 if its dumped into not good. if it does not get filled maybe we are looking at a bottom
here is a more updated article from bloomberg but still the same facts http://www.bloomberg.com/news/2013-01-16/gulf-coast-crudes-strengthen-as-regional-oil-inventories-drop.html
i actually found some optimistic results on mustang. I'm pretty sure we get paid a higher price per Barrel of Oil. heres what i found. Their is a glut of oil supply for all oil that has to go through Cushing Oklahoma.. so Oil is sold at a lower price. Oil produced on the gulf coast sells at a premium to WTI. read this article
http://www.bloomberg.com/news/2012-01-23/u-s-gulf-coast-oil-prices-mixed-as-wti-brent-spread-narrows.html
and as Tony stated in his Blog back in October the API grade of oil we have from mustang is 37 which is closer to Brent at API of 38.04. WTI is 39.6. Tony also stated himself that this oil sells at a premium in the blog update. in conclusion it looks like we would get paid 10-15$ more than whatever the current price of WTI is at the moment because of the location of mustang island and the grade of the oil. thats around 110$ per BOPD.
http://wenergyinc.com/recent-updates/the-i-1-begins-4-point-test/
http://en.wikipedia.org/wiki/Brent_Crude
.......if someone proves im wrong you can delete this message moderators
agree 100% with this. Volk out of the company would be great news i hope he leaves to start those other 2 start up energy companies. Mason has a lot better track record on brining assets online
has any one had success in contacting Dominion Production llc? this is the operator and they are really starting to get on my nerves. i have been emailing them but no response http://www.dominionproduction.com/index.html
its good to see a legit bear point of view. the only question i have for you when we traded at 0.005 before we had 250-300 million O/S so why do you think now at below 100 million O/S we would be trading at 0.005. mustang well construction has been complete and we are in a better position now instead of back then
XZX this sounds familiar lol look what happened today http://www.reuters.com/article/2013/01/27/usa-mississippi-oil-idUSL1N0AW2OL20130127?feedType=RSS&feedName=rbssEnergyNews&rpc=43 ...they dont know what companies are involved btw
any info on vm-179 is important how can you post a message saying you found something important but not provide any details....
Yemen resumed oil flow again.... man they got that repaired quick. i guess i would too if it was the countries 70% of its budget http://www.globaltimes.cn/NEWS/tabid/99/ID/758327/Yemen-resumes-oil-flows-after-pipeline-repaired.aspx
yea if 70,000 BOPD is not coming into the market thats a whole lot more than hostages taking over a nat gas plant for day.... if it took 3 weeks to repair our pipeline. how long do you think it will take to repair a pipeline that got blown the F up lol. i cant see how oil does not hit at least 98 on monday morning with this news http://news.msn.com/world/yemens-main-oil-pipeline-attacked ..... also it would not surprise me if the Saudis back these attacks because they need 96$ wti oil to sustain their economy according to cnbc, and with the U.S producing more and more everyday that is flooding the market with supply
hey Fureal I'm going by our partner SLME PR back on the 7th. he said a few weeks. to me thats 14-28 days. if it would be over a month to get this back and full production i think the CEO of slme would of said so