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I spent a week in Texas with AMEP a week ago and YES! Charles Bitters is going to grow that company. My $ .10 per share is about current wells. Not any future deals.
Don't be suprized if AMEP makes $.10+ a share
Yepper, it's GBLL's time
GBLL acting nicely. EOM
Yepper, rollout of software is soon and they will have a division that actually buys foreclosed properties. The story is great because foreclosures are increasing and the dollar falling with jobs going overseas. Watch what happens after Nov and 2005. IMO, this country will have to address the huge debt that the average family has incurred as well as Washington. Look at the TV ads, EASY CC Debt reduction via home equity. Sad that Fannie Mae and Fannie Mac have made requirements to borrow against homes so easy.
THE BILL IS COMING DUE FOLKS.
Foreclosure software to ease tracking of propertys. For now, only California and AZ but if it sells you can bet on other states. I still am not going to hold all long, will sell half in .08 range. Hard to get a handle on OS and float because of S-8 but it looks like those shares are sold so the worst case makes OS 110 million.
Anyone following GBLL? EOM
A few of my photos are at:
http://groups.yahoo.com/group/AMEP/
More later
New Rules to End Using Canada as the Back Door For US Illegal Short Raiding
The Canadian brokers called this tactic "Naked Short Selling" but in truth is was a loophole used by less than ethical entities as a way to break the US law requiring up-ticks and borrowed shares before effecting short sales.
The work "Naked" is truthful but what the transaction is naked of is money. This allows under capitalized and in most cases crooked brokerage houses to assume large positions invisible to their Canadian regulators because as sales they create credits not debits. This is a transaction popular with organized crime on both sides of the border.
Lucrative - as it is called in the press - is a nice word to indicate huge ill-gotten gains that wreck havoc in their production. This tactic was used primarily against smaller and therefore generally defenseless companies.
The way it worked is that a short position is assumed quietly and when the operators are satisfied that they have enough sold short, they begin to hammer the shares lower by pounding the bids right and left, raining stock on the market, selling shares they do not own and have not borrowed.
Basically, they have no money in the transaction at all and are creating credits to their account by their illegal US selling. As the pounding of these little companies continues, long positions of course panic and turn sellers. It is running the long positions out that allows the illegal short sellers to cover.
It usually does not end there. Rumors of a negative nature are started on web sites and via brokers. Reports are made to regulatory bodies, claiming wrongdoing on the part of the company. Newspaper articles are placed saying negative things about the company. The reputation of the company is attacked as the share price is attacked. This is repeated and repeated until the small and usually defenseless company is driven into the dirt price-wise.
Those using this type of loophole to sell short without the required up-tick or having borrowed the stock have killed many small and promising companies because their stock action removed them from financing capacity. They killed them because their price action turned their stockholders into a group of very angry people opposed to management. They killed them because if you bust a company's stock you generally bust the company itself.
This new rule will make it a crime for the US counterparty to accept orders or OTC transactions in the US market from primarily Canadian or any non-US brokers unless there is evidence that the shares have been borrowed for the sale and are therefore identified as a short sale. It will in effect require the Canadian side to borrow the shares and where applicable sell only on an up-tick or unchanged up-tick. This takes the hammer and freebee out of the pure scam.
Canadian Exchanges speak loudly about the transparency requirement for their listed companies but still allow practices on their exchange floors that scream "no transparency" and therefore reflect slack governance on the part of the exchange itself.
An example is the ability of a buying or selling broker to hide from the public by identifying themselves in the transaction as anonymous. Therefore, the public and other brokers will not know who is the selling broker and who is the buying broker. However, they require companies listed on the exchange to keep an eye on the trading of their shares to identify improper activities on the part of insiders and others. The insider can easily hide behind another broker who uses the name "anonymous" rather than their own name on transactions in public view. That is totally wrong.
Pet. Engineer that did reserves:
Biography for J. W. (Bill) Rhea, IV
J. W. (Bill) Rhea, IV (51), has twenty-nine years of business and petroleum engineering experience in all phases of the upstream exploration and production sector of the oil and gas industry, both domestically and internationally on four continents. Mr. Rhea is a second-generation oil and gas businessman and has been a Petroleum Engineering Consultant to industry for many years and, additionally, has served in senior management and chief executive roles in several independent oil and gas companies.
As a consultant, Mr. Rhea has worked on acquisitions, mergers, and divestitures of oil and gas assets and companies. He is deeply versed in the process of identifying, screening, technical due diligence, and the closing of transactions for producing and non-producing oil and gas properties. He was President and Chief Executive Officer of APP Production, Inc., which acquired various oil and gas producing properties totaling $85 million over a three-year period.
Mr. Rhea is also deeply versed in exploration and has served as President and Chief Operating Officer of BF Production, Inc., which recently acquired exploration licenses for high-risk, high-potential exploration prospects in South Australia. The assembled team of professionals under his guidance utilized state-of-the-art remote sensing and focusing technologies coupled with traditional technologies (2D seismic, gravity, magnetics, aeromagnetics, and sub-surface geology) to assemble a world-class portfolio of prospects with each having potential exceeding 100 million barrels of oil recoverable. He also served as Managing Partner of TexStar Partners and TexStar North America, Inc., an independent oil and gas company engaged in exploration ventures, producing property acquisitions, and secondary recovery operations.
Mr. Rhea was also the President and Chief Executive Officer of a London based, publicly listed entity, LAE Energy, Inc. and it’s holding company, London American Energy N.V. The entity was a combination financial vehicle for oil and gas exploration and producing property acquisitions geared toward institutional investors based outside the United States. The entities raised in excess of $185 million from investors for high-risk, high-potential exploration prospects and producing property acquisitions in the Lower 48 United States.
Mr. Rhea has a strong background in the development and management of early stage companies and is experienced in managing and leading a team of professionals in the technical environment of the upstream oil and gas industry.
Mr. Rhea received a B.S. in 1975 in Mechanical Engineering with Honors from the University Of Texas at Austin. He attended graduate school at University of Texas Permian Basin working toward an MBA following a two-year assignment in West Africa with Gulf Oil. He also attended Petroleum Engineering School through the Atlantic Richfield Learning Center in the late 1970’s. Early in his career he accepted assignments related to field operations associated with drilling and production operations. Once established, he then accepted assignments in reservoir engineering and evaluation. His professional affiliations include the Society of Petroleum Engineers and the Houston Producers Forum.
Will post some pics on yahoo group page.
We were in the field finishing a well hookup until 9 PM. Got it pumping and oil going into the tank and gas down the pipeline. We just ran outta daylight. Don't EVER doubt the long days that CB puts in. He puts in large windshield time and his cell phone rings constantly. You get to know a man after spending a few 12 to 16 hour days with him and CB cares about growing AMEP and making the shareholder money. This guy is using his own money to live!
As to shares for collateral, hell yes that is happening. How else can a start up raise the money to exist? The key here is what is done with that money in a ratio of increased float to increased value. Is the current shareholder getting a benefit from dilution? Is that money being used for increasing reserves and growing value? IMO, the answer is YES to both Q's. CB is NOT taking shares and paying himself, he is buying leases where the additive will make wells that can't give up their oil and gas because the formations are locked. The additive unlocks those formations. You just have to see this work. Again, I will be doing some testing on Eastern pariffins upon my return.
My biggest beef with CB? He does too much and needs to hire some help. I addressed this with him and his reply was that he won't spend that money until these wells are shipping more product. Ya'll should have a chat and elect someone to come down here and do what I did. It will run ya about $2 or 3 grand but damn cheap insurance.
LONG FRIGGIN DAY! Just got back from hooking up one of the newly purchased wells. Damn fun tho......... I am very encouraged by the possibilites of the leases that I have seen...NO BS!
CB has some stuff coming if rework on some uphole formations are successful.
Ya know, I don't give a damn about naysayers. Oil is being shipped and increasing as wells are treated. Just about to head out to see Barnett Shale lease.
That is a kind offer thank you. I will write off cost because it is a business trip. Yes, visit AMEP.
Great. I do worry if folks start saying that they bought something because of me. I am NOT the endall in O&G but rather a man that has a history in same and is DDing for self. You have to meet folks face to face to really get a feel for a stock. I consider it cheap money to fly into the company's backyard to investigate.
NEVER bet the ranch on one stock and NEVER put your rent $ in same.
Dunno, CB is tightlipped and will not tell me anything that would smack of insider stuff.
KNOW THIS!
I spent the money for this trip out of my pocket only to satisfy myself about AMEP.
I DO NOT want anyone to buy AMEP on anything that I post. I am just sharing my observations and opinions PERIOD!
Know that the additive will be used on ALL WELLS. It is a product that I have encouraged AMEP to even market to major service companies like Halliburton, Dowell, Baker-Hughes etc to treat wells and especially to run in the pad of all fracture jobs. The pad is the first fluid that meets the target formation. Think of it as a spearhead. At present we producers load that pad with chemicals....an example is Halliburton's ClayStay which isolates the clay particles found in sandstones so they don't swell with the introduction of water. I contend that I want this additive introduced to my formation as soon as possible and the pad fills that bill. Why? Because I want the producing formation to be conditioned to fight asphaltenes and pariffins from the 1st bbl produced. Read PREVENTIVE CARE.
Everything that Charles has told me to date has been true. Heading North Thur. to see the last lease acquisition and look at Barnett Shale prospects. Damn the oilpatch is going full bore in that formation and I am damn glad that a stock that I own is going to drill same
The pumping rig that was set up last year was found to be too low pressure as it has been found that after breakdown of the formation, nat gas has been a factor. What this means to me is that these 192 wells have NOT been tapped to 1% of potential and that gas is the indicator. If these wells had had much oil extracted, the nat gas would be non-existant. A new setup is being constructed to beefup the company injection system and in the mean time CB has hired a contractor to pump additive. The company having it's own injector will save money and offer instant treating instead of waiting for a contractor. Go back to the PR about the oil in place evaluation that AMEP paid for and see the oil reserve numbers for the above 192 wells.
It has been dry and warm here but the ditches on each side of the roads are FILLED WITH WATER. These boys had some unusual amounts of rain.
Friday shorters have a new problem so I am putting a $1 sell order no time limit like 'good for day' in for my shares. Why? My shares are then off limits to any broker.
Well campers, I have toured the 193 wells and they are real. I will be seeing newer wells later in the week. I took samples from a few wells that have not been treated and added additive and the results are there. Viscosity reduced and seperation of fines and a small layer of water. The samples taken from the bleeder exhibited asphaltenes and poured slowly. What I really liked was that gas pressure has been raised after injection and that is great news as gas drives oil to well and that the 192 wells have much more production to develope.
More later....long day.
I only have a hour or so to be on the puter this morning. Barnett Shale is red hot down here in Texas and AMEP has leases already held by deeper production. The PR announced that 3 wells are behind pipe. What that means is that to access the Barnett, AMEP will save large money getting at the gas. Read.........no drilling costs, no cement costs, no casing costs.........just setting a bridge plug below and perfing the Barnett. SWEEEEEEEET!
Beats me. Just getting 5 bbls a day out of the 1st purchase would make this a .25 stock alone. With the new gas..........more.
porknbeans,
Just got to motel room in Texas and spent 4 hours with Charles driving to some wells. Very early to report but 1st answer I can give you is that your last statement looks right.
Will report more later.
porknbeans
One of the plus' to this additive is that it is mixed with water. Many times paraffins are formed on salt crystals and water will dissolve those crystals thus easying flow to bore.
I have just about had it with Raging Bullshit so am considering not posting there anymore. Too many ass' that have no logic and even less character.
MAGR may gap this AM. Eom
GBLL has a one-of-a-kind software to track foreclosures.
Read this exerpt, it is true and another reason that foreclosure software will be in great demand sending Global stock up.
Jim Willie CB
www.GoldenJackass.com
September 12, 2003
"The mortgage bubble would be far more difficult, as such extreme leverage and risk is concentrated in the gov't agencies. Their foundation is severely undercapitalized. Their structured finance is built upon a system containing woefully insufficient controls and audit transparency. The combination of heavy leverage gearing, poor controls and rising rates makes for a witch’s brew which could annihilate Fanny Mae or Freddie Mac overnight. He tended to agree that the mortgage agencies were the weakest link in the entire bond system. I cited a 40-yr low in interest rates, but a 40-yr high in both mortgage delinquencies and defaults. I mentioned the aggressive marketing of home equity credit lines, alarming even mortgage industry experts. He countered that in Europe, people are not given the chance to extend credit in such ways. We were in agreement as to the agency primary risk location. The same day we discussed Fanny and Freddie, his evening CNBC news wrap up mentioned the Fitch downgrade of Freddie Mac debt. Great timing, made me look good for sure."
WELCOME to IHUB GBLL!
I started this board to offer another avenue in order to discuss B
GBLL and to gain exposure via another thread.
falconer,
Great post! This statement is one that most do not realize:
"As all know, only a fraction of the oil in a stratum is ever recovered in conventional oil production. The vast majority of it remains bound to sand or rock particles, kept from flowing by tars or paraffins, or kept bound into the rocks by other means."
IF the US had access to 50% of the oil left in place, we would not be importing oil. That should tell all just how inefficiently that all wells have performed.
Very interesting about your microbe Q. I do not know that answer but doesn't that process take a period of time? It is being utilized in various parts of the industry.
tatrader,
I am GUESSING that TRAC and DATA MM's are buying for another stock exchange. Hey, who cares, it's a good risk for a PM miner that is in China.
GM Spidy.eom
Yepper, how are ya Buddy? Burn that gas up there EOM
MAGR gapping..OLICO mio compadre!eom
MAGR gapping
I think that another stock exchange will list them like Hang Seng
Hi ya'll MAGR looking good and I have GBLL. EOM
Any one here following GBLL? I like MAGR EOM
Ya may want to look at GBLL
12/11/2002 500,000,000 DEF 14C 11/10/2003 37,942,799 float
http://biz.yahoo.com/bw/040107/75237_1.html
IMO:
The software that Global will be marketing should be a winner. If you are aware of what is happening in the housing market then you know that there are millions of loans out that can not be sustained by the loanees. Downpayments have even been forgiven and credit requirements lessened. The result? most familys are spending over 50% of their two incomes per month to just make the mortgage payment. IMO, that can not be sustained. Layoffs are happening daily with the advent of many companys outsourcing jobs overseas to save $$$. Levi Strauss no long has a plant here, if ya call Dell for damn near anything ya get someone in India and GM is moving manufacturing to China in a big way. VERY sad facts all but it spells disaster for the American family.
A software that tracks foreclosures will be in huge demand so Global is in the right place at the right time. I also read that they are using the software for their own plan to acquire distressed properties. All JMO and I hope I am wrong but I bought this stock because I have been aware of the machinations of FannyMae and FannyMac which are both in financial trouble.