Earlier today I asked "Does anyone know of sucess stories of Pinks with new technology that have gone to $2 - $3 before their product went to market?"

I said I knew of a company with a new drilling process that was around $4.00

The Company is PDRT (Particle Drilling Technologies) I'm not pumping them. I wouldn't touch it. But they do have an interesting story. They have been around for 3 1/2 years. They have been as high as $7.00 Are @ $2.91 with a 52 week high of $3.79. And have never earned a dime or had any commercial contracts. Lots of field trials though.

PDRT's technology is an interesting one, but even if it ever makes it to market it will have limited applications. It will not revolutionize drilling. Yet their investors have hung around for 3 1/2 years and it has stabilized at a reasonalbe PPS.

On the other hand CYPW can revolutionize the entire internal combustion industry. I do think we can look for significant apreciation before they go commercial.

Caveat: PDRT is on NAZDAC. CYPW is a Pinky.

grajekk, I'm doing well. Thanks for asking. I'll be even better when this goes back up. I'm OK with being in it.

Thanks nuggetman. 6.5mm cf /mo is another $60,000 or so per mo of gross revs.

nuggetman, do you know if ALRY is producing a significant quantity of gas? To me, 3MM to 5MM cf/mo would be significnt for a little co like them.

From the Miami Herald story, it sounds like CYPW is a year or so from having commercial versions of the Cyclone on the market.
Does anyone know of sucess stories of Pinks with new technology that have gone to $2 - $3 before their product went to market?

I know of a new drillng tech company that has been in the $4 range for a couple of years. Last I heard they still hadn't gone commercial. They are on NAZDAC though.

Stogie, welcome back. Some of my thoughts are in my post #16339. I have no doubt that speculation has played a part in taking the price of crude to these levels. That level of speculation is driven by fears of what will happen in regard to World oil supplies in view of the situations in Iran, Nigeria, Venezuela, and the Persian Gulf countries.

Now, let's say some of those fears become reality. Israel does attack Iran and a part of Iran's retaliation is blocking the Strait of Hormuz. Nigeria's rebels move from being a major nuisance to actually blocking exports from that country. Muslim fanatics came close to bringing down the Saudi Royal family during the seizure of the Grand Mosque in 1979. In the last couple of years Saudi Arabia has moved to control their more violent extremist but they are far from being stable.

If oil supplies were disrupted by 2 or 3 million bpd, the oil market would go crazy. And we worry about the caribou, and the threat of oil spills 50 to 150 miles off our coasts. To me, it's insanity.

There is a form e-mail going around to encourage Congress to support a Republican House Bill that would open areas for drilling and other measures. I sent the form to my Congressman. I don't like seeing Boards turn into political screaming matches, but since this is an energy based board I'm going to ost this e-mail, I sent to my Congressman.
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Congressman Larsen, your Party has tireless distorted our energy situation and has done, what could be, irreparable harm to our Nation.. I'll give you some examples


1. "We can't drill ourselves out of this crisis". No one is claiming more drilling will cure our energy problems for all time. But it is the only way to buy time while we search for all those marvelous alternative energy cures.

2. "Any oil found won't come to market for 10 years". The discovery well at Prudhoe Bay was drilled in 1968. At the time a few delineation wells were also drilled. However getting the oil to market wasn't economically viable until the Arab Oil Embargo drove up prices. Construction began in 1974. First oil came down the pipeline in 1977. In those 4 years two major Gathering Centers, warehouses, accommodations, a few hundred miles of gathering lines, a 48", 750 mile pipeline and the Port at Valdez were built. You should be very familiar with this. The module fabrication yards in Anacortes and Bellingham were big players in module construction. And your District was a beneficiary of the activity.

I worked on the Statfjord Field, 150 miles off Bergen , Norway. The discovery well was drilled in 1974. First oil went to market in 1979. In 5 years a 300,000 bodp facility, in 500 feet of water, with sleeping accommodations for 500 people was built. It is completely disingenuous for your Party to make the 10 year claim. Let's say it did take 10 years. In all honesty, Congressman, do you think we will need less oil in 1`0 years?

3. "ANWR would only produce enough oil to last the US 6 months." That is MEANIGLESS! The Alyeska Pipeline is designed for 2 million bopd. Today, that would increase domestic production by 25%. At today's oil prices that's $270,000,000 PER DAY that we wouldn't be sending overseas. Today, 31 years after production started, Prudhoe Bay still produces 700, 000 bopd. That's 10% of our domestic production.

4. " We need to put a windfall profits tax on BIG OIL companies to force them to develop alternative energy". There is an under current, ,IMO, promoted by Democrats, that somehow, BIG OIL is responsible for suppressing alternative energy sources. Consider this. Would you agree that Germany and Japan are as technologically as advanced as we are? Together they produce 300,000 bopd and consume 9,000,000! Don't you think they are motivated to find the magic alternative energy sources? Hopefully, in time, we will find them, but in the meantime, it is insane to not be exploring and drilling for more of our own oil.

Finally, does Democrat leadership really believe that our current energy crisis is somehow tied to the fact that President Bush and Vice President Cheney have oil backgrounds? The USA only produces about 10% of World oil supplies. About 60% of oil available for export comes from countries not very fond of President Bush. Do democrats really believe that Bush is shoving $135 oil down China's throat?

There's not another Democrat that I would bother sending this to, and not many Republicans. But as one of your constituents, I have regard for you, and hope you read it and consider what I've had to say.

"congress is about to make it very attractive for oil companies to to drill"

Are you talking about THIS US Congress? LMAO. Their mantra is "We can't drill ourselves out of the energy crisis."

Thanks chillar. I'll call eom

I check it often, praying for good news from you. LOL.e

"hopefully results on horizon"

chillar, just how far away is that horizon?

Argo, the topic of my post was Drake's cash position re-buying equipment for AZ.

This is the headline for the PR you pasted. "Drake Gold Resources, Inc. Announced Sale of 3% NSR for Georgia Project - Raising $180,000 of Additional Capital"

So, two investors buy 3% of the GA. Project NSR. To me that means they don't start getting a return untill the GA. Project starts producing an NSR. If I had put $90,000 into Drake, to make money on the GA. Project, I would expect my money to be used in GA., not 2000 miles away, in AZ. But then that's me.

I didn't include the full sentence dealing with what Drake was providing to the AZ deal, because I was talking about equipment.

Here's the full text of the sentence. "Under the agreement Drake will retain 47% of the net proceeds in exchange for Drake furnishing additional dry-processing equipment and jointly covering daily operational expenses"

You said "If they had all the equipment they needed, why engage Drake at 47%? "

The 47% includes ADDITIONAL dry-processing equipment AND jointly covering operational expenses.

I don't think the most avid Drake supporter claims Drake is flush with cash. Where do you 'spose they will get the money to buy equipment for an end of June start up?

"I have to go by your OWN WORDS and figure you arent here for the best interest of Drake, and so why are you here? "

You caught me, ARG!!. No I'm not here for the best interest of Drake. I'm here for the best interest of Drake INVESTORS. I believe I've posted more useful information than ANY of the 5 or 6 most consistent Drake supporters.

I do understand you better now that it appears you think the purpose of this Board is to benefit Drake.

I don't own a single share of DKGR. I owned some AMVS. Sold. Bought into the Jackpot fiasco. Became completely disillusioned with Drake. Sold. Bought into the BIG GOLF TOURNAMENT flap, for a potential swing trade. Sold when I read the ridiculous claim that Dove was crating equipment for shipment "ASAP", to an un permitted site. Bought again on May 1. Sold on May 14. If they ever PR something believable, I may buy again, for a swing trade. This Management is too tarnished to ever lead me to buy long.

Yes I can read. Can you? It says "additional dry-processing equipment" The PR listed a full range of equipment rquired for dry BSing. Don't you believe Drake PRs?

The reason I don't go to GA. or AZ. is because I'm extremely skeptical about every thing Drake has claimed. As far as I'm concerned a site visit would be a waste of my time and money. However, if I had a lot of money in DKGR and did believe there is a strong chance they were telling the truth, I'd want to see with my own eyes.

CC, you say there is probably nothing going on in AZ because Drake/Eagle are waiting on equipment. This from a Drake PR.

"Eagle has their own processing/smelting facilities and possess several key pieces of equipment, including, but not limited to, a reverberatory grinder, a hammermill, electronic concentrators, and multiple pieces of earth-moving equipment. Under the agreement Drake will retain 47% of the net proceeds in exchange for Drake furnishing additional dry-processing equipment "

According to the PR there is a full spread of equipment now available to 'resume" the Bulk Sampling /"mining" operation. ( I'll abbreviate Bulk Sampling / "mining" as BSing / "mining"). I wonder why they would wait for additional equipment. According to the PR they are going to "resume" mining operations. They must have been "mining" with the equipment they already have.

They have their BSing / "mining" permit in place. As previously posted, by others, all they need to do is open a 47,000 sq. ft. 4 ft deep hole and start pulling out gold and other PMs. Does anyone have a good guess as to where Drake will get the money for additional dry-processing equipment?

Why visit AZ? They said operations would resume by the end of June. If that's true, there are a number of things that should be happening on site, now.

The only independently verifiable claim that Drake has made, that I remember, is the hiring of Harbin. I think an investor could visit Steve Harbin and ask about the status of each item on the list Drake said Harbin prepared for them. I think the investor would have a reasonable chance of getting some facts from Mr.Harbin.

Where's that Georgia Reserve Report?

Argo, just curious about something. If you had a free pass to either travel to see Zoran or do what I recommended to MC, what would you do?

MC, in all seriousness ( don't loook for hidden meanings or twists in my post) Like it ur not, Zoran has a documentable history of, shall we say, dancing with the truth.

If I were you, I'd drive from CA. to the BLM office in AZ. Talk to Paul and then drive to the Abigale / Donovan properties. See for yourself if anything is going on that shows any sign of them going into production by end of this month.

Then I'd drive to Phoenix, drop my car, and fly to Atlanta, and drive to Harbin's office. You might be surprised at how much an engineer will tell when you are looking him in the eye. At a minimum ask the status of submitting the permit & re-zoning applications. You might even drive on to the site. See if there has been any brush clearing going on. Drake said they had opened a work order for that activity.

If you go ahead with your meeting with Zoran, all you'll know, when you walk out, will be what he's willing to tell you.

Since your willing to spend your own money to find something out, IMO, you should find out what's going on with your own eyes.

Either way, you're to be commended for giving it a shot. GLTY!!!

I have an idea Every time one of those rascals mention Jackpot, slap them with of list of things Drake has actually accomplished. That'll shut 'em up!

At the risk of being labeled a member of joenatural's evil cabal, I'll say this.

Bashers that are driven enough to do actual DD to dig up dirt on a Pinky can provide important information to investors that have open minds. With joe, you have to put up with a lot of adhominum crap, but, IMO, it would be a mistake to put him on ignore. If there is factual bad news out there on a Company I'm invested in, by God, I want to know it!

On the other hand there are several negative posters here that offer nothing but "Larry is a crook" post after post after post. I've been reading the Board long enough to have developed my own iggy list. Aggravating joe ain't on it.

Chiricano, are you refering to the Stop sign used by PinkSheets.com? If so that sign won't go away untill ALRY pays PS.com to cover them.

If I'm wrong about this, someone please straighten me out.

My problem with the dilution is that it was unannounced and unexplained. Those of us with open minds can look at the past year and make a prety good guess at where a lot of the money has gone. RHWS cost money. New leases cost money. They didn't increase production from 800+ bo/Q for Q1 2007 to 5600+ bo/Q Q1 2008 by opening some valves. IMO, dilution to grow a Company is accetible. Dilution to keep the doors open or for skimming AIN'T!

There is a lot of evidence funds from dilution went into growing the Company and none that the money has been used to line Larry's pockets. Unfortunately, he has made himself an easy target for detractors who may or may not be on to something. A lot more transparancy is what is needed.

Speaking of detractors. I can't tell when pizzabuster is in his cups or off his meds. LOL. But he brings up a point we had all better be aware of. We really don't know just what we own until Larry publishes full disclosure. Some of these Pinkies can slice up assets like a Benihana cleaver wielder. DRILL4 & I learned that the hard way.

If Larry has indeed ungaged the TA, how can that be anything but good news? First he publishes verifiable Q1 2008 production numbers, then ungags the TA. Let's hope the TA didn't slip up and release ALRY's O/S. And when Larry hears about it he tightens the gag.

After thinking about yesterday's PR, I think it would have had a more positive impact if they had shown monthly production from say, October 2007 through March 2008. This would have enabled us to see the trend and make some rudaamentry projections.

want2day, Does the KS dept that published the gas info also publish oil production numbers. Is it posssible to track ALRY monthly production through official state links?

I'm not an LRY "true believer". I have reservations re-ALRY. However, I do believe that they produced 5,688 bo/m for Q1 2008. There were no weasel words in the number. Their production is a matter of public record through the KS Revenue Dept. For Larry to publish a lie, like this, he would need a fetish for looking through iron bars.

Hello IDRILL, I'll put another spin on today's news. The worst thing about it is that the numbers are so far below the unrealistic forecast that Larry put into people's heads. If we had not had the expectation bubble, today's news would be seen as very positive. A 650% increase in one year!! ~$500K revs a month for a little outfit lke ALRY. Not bad!

Now that Larry has "bit the bullet" and admitted his lower than expectations production, he's in a good position to start building the credibility he had squandered.

Jagman, LOL. eom

don't claim to know a whole lot about pinksheets.com, but I think all the Stop Sign means is that ALRY has not chosen to sign up with PS. Companies that want to be covered by PS, must pay for the service. Apparently the ALRY boyz have chosen to not sign up. However, I wish they would. Even if we got nothing more than a quarterly statement of the OS

As I recall, when PS first started up, there was some controversy over the Stop Sign. The concern was that people would take it to mean something negative. There was also concern that PS's strategy, in using the Stop Sign, was to gently coerce pinks to list with them to avoid the negative connotation of a Stop Sign. " Not Covered" would be a more descriptive designation. IMO.

Argo, I'll tell you why I don't call Drake IR. But first I want to point out a few things..

In January Drake put on their website the ridiculous claim that they could begin mining before they got their permit, as long as they didn't sell the gold they produced until the permit was issued. Does ANYONE still believe that?

The Feb 4 th PR said Dove would begin crating the Explorer 500 for shipment as soon as possible. How about this one? Any believers?

3/11 PR "My team and I will be heading to Georgia in the next two weeks to submit the permits, zoning,---" 5 weeks later it became pretty obvious nothing had been submitted. The same PR said they were awaiting delivery of the Explorer 500. IMO they wanted to leave the impression that the equipment was on its' way. NOT!.

4/23 PR. Ship Explorer 500 about May 1. Delivery on or about June 1. We continue to be in an official silence.

5/8 PR. "Drake and Texas-based Eagle Mining have entered into a formal Joint Venture Agreement on their fully permitted and producing Abigail and Donovan projects," These projects are not fully permitted and are not producing. Eagle's permit is for bulk sampling. IMO,an honest company would have made that clear.

5/9 PR. The first line of the matrix, linked with the PR, read "MINING PERMIT" . Eagle DOES NOT have a mining permit. This is not a semantics issue. A Bulk Sampling permit is NOT a MINING PERMIT.

Now, why I don't call Drake IR. The people that will answer the phone are the same people that have put out all those misleading, disingenuous PRs.

IMO, a more logical question is. Who would call Drake IR and believe a word they say?

CC, Are you implying Drake may be paying Harbin with cash from the $180,000 announced in the May 14 PR? Harbin was engaged on April 4. If that's the case, maybe Harbin has been waiting for payment. Thanks for reinforcing my supposition.

Do you seriously think that on April 4th, Harbin would simply say "We'll get right to work. Let us know where to send the bill." Talk about a fairy tale!!!

No I don't "--figure that Harbin doing the permitting process is going to cost, say, millions of dollars"

In my post, that you replied to, I said Harbin could have charged Drake $ X,000 for the time line and given them an estimate of $ XX,000 to complete the process.

Now pay attention. If I thought it would cost millions I would have expressed it thus: $ X,000,000. Do you see the difference between $ X,000, $XX,000 and $ X,000,000?

I assume the permit guy is with Harbin. Almost two months after it was announced they would be "expediting" the permit process, we hear they are waiting on information from Drake!.

Here's a thought. A little company an engineering firm has never heard of comes through the door and says they want to retain the firm to do a pretty fair amount of work. OK, give us a written Scope of Services you want to contract for and we will get back to you."

The "get back to you" phase includes doing a credit check on the little company you never heard of, that wants to do what? Open the first permitted commercial Georgia gold mine in decades. Anyone care to guess at Drake's credit rating?

IMO, based on real life experience, Harbin told Drake something like this. We will prepare the time frame you requested for $X,000. We will start the work on receipt of a cashiers check for that amount. Our estimate for the remaining Scope of Services is $ XX,000. Please open an impressed account in a local bank for at least half that amount. We will bill against that account. You will re-fund the account, as necessary to pay our invoices up to the agreed limit.

Could it be that the information Harbin is waiting for is the status of the impressed account?

CC, I'm not ROTFLMAO.

GLTA

O/T I can't imagine why the Pres of Shell would say it would take 10 years to produce oil from ANWR. The discovery well at Prudhoe Bay was driled in 1968. At the time oil was selling for about $3.00 /bbl It didn't become economically viable to develope the field until after the Arab Oil Embargo, in 1973 - 1974 drove the price to ~$12.

Construction started in 1974 and the first oil down the pipeline was in 1977. In those 4 years the 750 mile Transmission line was built, a few hundred miles of grathering lines, 2 major oil gathering centers, the infrastructure and the terminal at Valdez.

The Aleyska PL was designed to carry 2MM bbls/day. It now only carries about half that (which is still ~17% of the USA daily production.)

I would guess that the first oil produced in ANWR could be piped to the Aleyska PL and sent to market in less than 4 years and the full range of facilities could be in place in less than 5 years.

To those that say " No use drilling in ANWR because it will take 10 years to get it to market", I ask. Does anyone think we will have less need for oil in 10 years than we do today?

Note. I've been an ALRY SH and a lurker on this BBoard for about 4 months.

Nobody asked me, but this is what I think is the most important thing for DKGR to accomplish to prove they are actually doing somethiing.

Verifiable delivery of the Explorer 500 to a location within a few miles of the proposed mineing operation.

About permits. Submitting a permit application will look good, but really won't mean a lot. It only requires filling out about a dozen pages form along with a survey and some generic design documents. Then it needs to be approved. Even if it is approved, it doesn't mean that riches are necessarily headed DKGR's way. Governing agencies regularlly issue permts that are never actually used. I know that in the building industry, promoters often secure permits to help raise money. Not enough money raised = an expired permit.

Agencies that isue permits have little invested in the permit ever being activated.

On the other hand, a re-zoning application is a more serious event. It takes more action on the part of County and City agencies. They must notify affected citizens. Set up public meetings. Get determinations from their legal departments. Getting a re-zoning approved for something with the impact of a good sized mining operation is a BIG deal. If a company were to be granted a re-zoning approval and then not use it --- they had better never go back to the same agency and request another.

The reason I think equipment delivery is even more impostant than the re-zoning processs is that it will mean Drake and Dove REALLY do think they have sufficient gold identified and have an excellent chance of securing necessary Agency approval.

IMO, everything short of a verifiable delivery of the Explorer 500 could be window dressing.

CC, no doubt you will continue to use your own definition of evry thing to do with Drake. You call it ming but Eagle is operating under the authority of a BLM document titled:

NOTICE OF INTENT
TO BULK SAMPLE understood?

What have I said that makes it sound like Paul is a villan? I've made it clear that he had nothing to say about Drake. I think he would object to you continually refering to the bulk sampling work that Drake is permitted to as mining.

I still don't understand why the Burkett's aren't mining all this easy to get gold, if it so easy and lucrative. They already have all the equipment they need. Their permit is 2 years old and they have done very little work. Paul said they were out for a while last spring. With your scenario tey could have been making thousands of dallars a day on their own.

mkt, that was a civil reply. I had a small position until today. I got in for the third time, right after the announcement about a timetable for shipping equipment. I don't believe in Drake , but thought they could pump a pretty good run on equipment updates. Here it is two weeks after the planned shippment date and we get more silence.

After talkng to Paul, and he confirmed they only had a sampling permit, I sold. I don't believe for one minute that the BLM will allow Drake / Eagle to "mine" the site 40,000 sq feet at a time. Even if this all pans out, they are MANY months from production mining.

You said "Milestones are being met----". What milestones have they ever met?

Thinman, If bulk sampling is so lucrative, why hasn't Joe Burkett and his son been raking in all that gold for thr past couple of years. After all they already have all that equipment on site and ready to go. And they have a BULK SAMPLING PERMIT.

I don't imagine you have the answer, but I think it's a reasonable question.

CC, I really don't think there are any really stupid people here, so you surely don't think you can make people believe that Paul will come out and keep allowing them to bulk test this site 40,000 sqfeet at a time?

Paul told me that the reason it takes so long to get a Mining Permit is because of all the reports and agencies involved.


Air Quality, Water quaality, Archelogical surveys and reports, land use documentation, reclamation plans. And you say they can do this "over and over". It may work for you, but I don't think it will work for the BLM or all the other involved agencies.

From CC. "Thanks for verifying what I posted. " Which posts are you talking about? This was your and your pals' positions were until LT pointed out that Drake / Eagle only had a bulk sampling permit.

Funny. I see no reference to Bulk Sampling Permits in the following posts. An oversight, I'm sure. Ain't it awful that you leave tracks on these pesky BBoards?

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Posted by: silverstreak
In reply to: None Date:5/8/2008 1:12:44 PM
Post #of 21055

Drake Gold Resources, Inc. Announces Joint Venture With Eagle Mining.

This Agreement Establishes Drake's First Permitted and Producing Project.
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Posted by: Cutting Corners
In reply to: paid pumper who wrote msg# 20769 Date:5/8/2008 8:43:56 PM
Post #of 21055

pumper, I called the BLM in Arizona.

The company is private and is named Eagle Mining Partnership. All their placer permits are in order and we're good to go. NOTE: CC posted this twice.
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Posted by: Cutting Corners
In reply to: liketotravel who wrote msg# 20903 Date:5/12/2008 8:31:21 PM
Post #of 21055

And did these mining projects have all their permits in order and verified by the BLM?
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