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What is Wentworth really worth?
KKR Prospects for Natural Gas After Leveraged Buyouts Dry Up
July 09, 2010, 12:10 AM EDT
Last month, KKR said it plans to invest as much as $400 million in a partnership with closely held Hilcorp Energy Corp. to develop a shale deposit in Texas. KKR will hold 40 percent of the partnership, with Hilcorp owning the rest and managing operations.
The full read here
http://www.businessweek.com/news/2010-07-09/kkr-prospects-for-natural-gas-after-leveraged-buyouts-dry-up.html
Also this
Following are some major shale oil and gas acquisitions since 2009:
OCTOBER 2010:
* Plains Exploration & Production Co (PXP.N) spent $578 million on property in Texas' Eagle Ford shale. The assets total about 60,000 net acres in south Texas believed to hold oil and gas condensate, and are expected to have a net resource potential of 140-175 million barrels of oil equivalent (mmboe).
SEPTEMBER 2010:
* Gastar Exploration Ltd (GST.A) said it would sell half its interests in the booming Marcellus shale to a unit of South Korean investment firm Atinum Partners Co for $70 million.
AUGUST 2010:
* Rex Energy Corp (REXX.O) agreed to sell some of its acreage in the Marcellus shale to a unit of Japan's Sumitomo Corp (8053.T) for just over $140 million.
* Reliance Industries (RELI.BO) announced its third shale deal of the year with the acquisition of a 60 percent stake in a JV with Carrizo Oil & Gas (CRZO.O) in Marcellus for $392 million.
JULY 2010:
* Hess Corp (HES.N) said it would buy American Oil & Gas Inc (AEZ.A) in a stock deal worth about $445 million and boost its acreage in the North Dakota Bakken shale oil play.
JUNE 2010:
* Reliance said it would invest $1.36 billion in the U.S. shale gas assets of Pioneer Natural Resources (PXD.N).
APRIL 2010:
* British gas producer BG Group (BG.L) said it would pay $950 million for a 50 percent interest in shale gas assets in Appalachia from EXCO Resources (XCO.N).
FEBRUARY 2010:
http://www.reuters.com/article/idUKTRE69A3FN20101011?type=companyNews
What you think of my chart reading...This stock and the golden cross didn't bust yet. Still could go either way
The 200 day has rolled over and heading north. The 50 day looks to be heading north strong in the coming weeks. They always say...Buy when no one else will. GLTA
Someone please tell me they have a way to deal with this debt?
Just some of my thoughts on the chart
This stock is in a descending wedge. It is now resting on the bottom support line @ 0.002
There are bullish signs for a reversal here. The retest of 0.001 ( the conversion price) and a bounce off around May 25 and sending this stock into an uptrend. The support along this line is valid if this stock is up trending. This support line is climbing and is now @ 0.0016/0.0017. A fall through this support line will take this stock to 0.001
0.002 Long Support
0.0017 Short Support
0.0015 Strong Support
0.001 The floor
Golden Cross 0.0025
Break Out 0.003
The convertible notes with a maturity date October 31, 2010 for the entire debt with a Conversion price of 0.001..Where the floor is...Is the issue here..Its not a frac test, or how many BCF's they have in reserve. Come Nov 1 this stock will hit 0.001..Where she goes from there is anybodies guess. Even with the conversion to cover that amount of debt will take 50 billion shares. Why don't someone call Cornell and ask them what their plans are..You'll find the answers there
What do you guys think of the Senior Secured Convertible Notes maturity date October 31, 2010
Senior Secured Convertible Notes
The Amended and Restated Senior Secured Convertible Notes have an aggregate principal amount of $48,776,572 and the New Senior Secured Convertible Note has an aggregate principal amount of $5,000,000. The Amended and Restated Senior Secured Convertible Notes and the New Senior Secured Convertible Note are hereinafter referred to collectively as the Notes. The Notes are convertible into shares of the Company’s common stock at an initial conversion price of $0.65 per share, subject to anti-dilution adjustments. The principal amount of the Amended and Restated Senior Secured Convertible Notes includes the aggregate principal amount of $32,350,000 of the Original Notes, as well as interest and penalties that accrued under the Original Notes. The Notes have a maturity date of October 31, 2010, subject to the right of the holders to extend the date (i) if an event of default has occurred and is continuing on the maturity date, (ii) in the event of a change in control of the Company, through the date that is ten (10) business days after the change in control if the change in control is announced prior to the maturity date or (iii) if the holder in its discretion chooses to extend the maturity date to a date that is not later than October 31, 2012. The Company’s obligations under the Notes are secured by a security interest in substantially all of the assets of the Company and its wholly-owned subsidiary, Barnico Drilling, Inc. (“Barnico”).
Nice 8-k today. I guess you could almost feel it coming, and the results were right on. I bought some wnwg and feel good about it
I found this here
http://www.faqs.org/sec-filings/100415/Mesa-Energy-Holdings-Inc_10-K/
Three factors have come together in recent years to make shale gas production economically viable: (1) advances in horizontal drilling, (2) advances in hydraulic fracturing, and (3) rapid increases in natural gas prices in the last several years as a result of significant supply and demand pressures. Analysts have estimated that by 2011 most new reserves growth (50% to 60%, or approximately 3 bcf/day) will come from unconventional shale gas reservoirs. The total recoverable gas resources in four new shale gas plays (the Haynesville, Fayetteville, Marcellus, and Woodford) may be over 550 tcf. This potential for production in the known onshore shale basins, coupled with other unconventional gas plays, is predicted to contribute significantly to the U.S.’s domestic energy outlook.
The Eglinger #1 was drilled in 1944 in search of oil and encountered gas in two Brent Sand zones between 1,200 and 1,300 feet. It tested 1.5 million cubic feet per day from these intervals. Due to the lack of pipeline access and low gas prices, this well was not completed and was later plugged. Because the Eglinger #1 was drilled so long ago, the decision was made to drill the Gipson #1 in close proximity as a twin rather than to attempt to re-enter the old well bore. The Gipson #1 was recently drilled to a total depth of approximately 3,000 feet to test not only the Brent Sand but also the Hunton Sand, a gas-bearing sand widely produced in this area. The well tested over one million cubic feet per day of gas. The pipeline referenced above was completed, the two wells were connected and initial production began in the third quarter of 2009.
As a result of amendments to the farm-out agreement with Wentworth, we now own 35% of the working interest in the Cook #1 and 25% of the working interest in the Gipson #1, with Wentworth and other industry partners owning the balance. We believe there are multiple offset drilling locations and expect those locations to be drilled in 2010 as part of the overall development plan for the Coal Creek prospect.
Although our general philosophy is to operate all of our properties, we have a long-standing relationship with Wentworth and are comfortable with that company as the operator of this property. Wentworth has a similar property that is only a few miles away and, as a result of this arrangement, both projects will be able to share a pipeline tap and processing facilities resulting in a significant cost savings to us. We believe other operational efficiencies will also result from this arrangement.
The Wentworth mentioned here. Is this Wentworth Energy?
NO, I'm not Alan. Just an investor
I have an old saying. He who drops news on the right day draws the chart. 8-K Monday?
If I knew how to post charts I would. What I see on the three year chart is bullish. RSI is low and the PPS is at a higher level. It just tested the upper resistance line and broke through briefly. Previous resistance becomes new support, but its has since fallen through after failing to break through the next resistance level. To break through that resistance between 0.0035 and 0.0043 this stock will need some buying. Mostly likely around 10 to 15 million shares in buying. The short term support is coming in around 0.0015 to 0.0017 and it looks to be major. Don't get me wrong. The stock is in a downtrend and from what I see its slowly breaking through resistance long term. Now understand its only what I see in the charts. If I draw enough lines I can see everything.
GLTU Also
I agree. Its in the assets. Debt gets restructured all the time. If the company needed to raise capital to get the debt restructured. A secondary offering would be no problem. If the one who holds the debt feels its much better to take shares/ instead of doing a secondary offering to get payment. I'm liking what I see.
I have no inside information, and I live about 12 hours away from the location I seen. The location ( something that looked like a pumping well) I'm not here to pump any stock and I'm just starting to do due diligence for myself. If I find anything that is public knowledge I will share if I feel its worth talking about.
Happy to be here and GLTA
I don't discuss stocks all that much, but I figure what the heck I'll pull the cat out the bag and tell you what I think. This is just my thoughts, do your own due diligence. I'll just share some common sense. If the A/S is 300 million and someone is sitting on more than 50% of the outstanding shares for ownership..Who owns this company. So now we know less than 150 million is in the float. There is also a guy on this board saying he owns 11 million. So now we have 139 million floating. Who knows what YA owns whoever the heck that is, but I know one thing for sure. This is no penny pumping scam dumping share stock, and they won't sells this company for pennies. Right now $375,000 could buy the float, and on the flip side. Do people really believe whoever has taken shares in place of millions in debt is selling thier shares for a handful of pennies. I have a feeling somethings are about to heat up some serious here. Like I said its just my thoughts and I offer no facts
Shares Outstanding 196,212,160 a/o Aug 16, 2010 found on pinksheets.com God I wish people would stop calling and e-ailing the ceo begging him for a PR. Give it sometime buckle in and strap up for the long haul. Please don't let the stock run before I buy in
I passed a few Wenworth location on my way to Midway Texas one day.I noticed the chart today. Looks like a weak golden cross, either way I guess its a bullish sign,the 50 is crossing the 200 and both are uptrending. I feel it looks like a good buyin. I have it on radar
GLTA
1.14 should be the bottom for now...seems to have bounced off an old trend line. Could see this make its way back up to around 1.43 given the time frame. I'd have to say in about 6 days
Looks like its starting to make a move
Who the Hell is Dan Bruder
Well they closed the gap today...That's for sure.
I would guess this stock is trading on speculation, but it looks like jokey. I guess the bigger question is..what is this to become.
I been following for about 4 months now. Everything I see looks good here. Expecting to see a volume increase over the next two weeks. I see the gap below, but it seems to be having a tough time getting to
that level. I'm looking to buy some on any dip below .44, but right now I'm holding on to what I have. I would like to average down some, but I'm ok with my holding and I feel this is a good investment. GLTY
This is what I find interesting
On November 28, 2006, the Board of Directors of Registrant acting by written consent, issued 43,000,000 restricted common shares of the Company in full and final settlement of indebtedness in the total amount of $28,752 owed by the Company to Daniel Wettreich its President and Director. 87.33%
On November 20, 2009, Jeffrey Rochlin entered into a Stock Purchase Agreement with Danny Wettreich pursuant to which Mr. Wettreich sold 42,753,819 shares of common stock of the Company to Mr. Rochlin, representing approximately 86.83% of the total issued and outstanding shares of common stock of the Company for a total purchase price of $8,000.
Not only did he give this one away. He took a loss on it or did he?
Is he still holding 246,181 shares, or was those shares added to the float
He owned 87.33%
He sold 86.83% to Jeffrey Rochlin
With 49,236,106 O/S
Considering the float should be 6,482,287
Market Cap 1,477,083
At April 30, 2009, the Company has approximately $26,000,000 of unused Federal net operating loss carryforwards, which expire in the years 2008 through 2027.
Operating loss carry forward
The use of these operating loss carryforwards to offset future taxable income will be limited pursuant to Internal Revenue Code Section 382 as a result of any proposed change of control of the Company, including the ownership change which occurred in November 2006.
http://www.nysscpa.org/cpajournal/1999/1299/d601299a.html
http://www.taxalmanac.org/index.php/Sec._382._Limitation_on_net_operating_loss_carryforwards_and_certain_built-in_losses_following_ownership_change
If only I had a crystal ball, but I don't. If only I had a chart that showed something other than a downtrend, but I don't. What I do SEE is a very small cap. reporting company and for now that is all I can go on. From that I figure what I think this company is worth.
In my book with 100 million A/S. Its worth more than where it is trading at just for reporting
alone.
As for the 2 month old news...Some times its good news. With this little piggy. Its all about the balance sheet. I kinda the wish the news was a little older..We would have seen more of that on the balance sheet but I'll settle for that. Along with that news about Goodrich Aero. It tells me that revenue will be increasing. Hmmm I wish that could of been some older news..But I'll take it.
From last year's 10k
As of November 7, 2008, the aggregate market value of the issuer's common stock held by non-affiliates was $4,377,447 (based on the closing price of $0.195 per share of common stock on November 7, 2008
The issuer had 36,450,000 shares of common stock outstanding as of November 7, 2008.
State issuer's revenues for its most recent fiscal year: $15,208
I'm looking forward to this year's 10K
From CONCORD, Ontario, Sept. 1 /PRNewswire-FirstCall/ -- Vital Products, Inc. (OTC Bulletin Board: VTPI - News), a multi channel innovator in the industrial packaging sector, announced today that it has initiated its 3rd production run of its paper packaging system.
Related Quotes
Symbol Price Change
VTPI.OB 0.0140 -0.0010
Chart for VITAL PRODUCTS, INC.
{"s" : "vtpi.ob","k" : "c10,l10,p20,t10","o" : "","j" : ""}
Vital Products Chief Executive Officer, Michael Levine remarked, "Over the past few months we have completed two production runs of our Quikpak paper packaging system that utilizes our unique cohesive paper. We currently have approximately 40 machines in the market at various companies that represent the broadest spectrum of packaging needs, from small electronics to aircraft parts."
Mr. Levine further commented, "The product has received glowing reports and over the next few months we plan on introducing the Quikpak system in Texas, Florida and Illinois. At the current pace of sales the 3rd production run is expected to be sold out prior to its completion."
10k should be out this week....Smile
I think we'll see more also..The small breakout of that triangle was nice. Previous resistance becomes new support. Major breakout at 1.54...If you see two bucks Stoxx, we'll see five..GLTA
Looking for a bounce @ 1.21...Volume was low today. I think I'll add a few there...GLTA I believe the lower support trend line is being tested...We should break out by the end of this week.
I believe support is still at 1.25 and the chart pattern is a Symmetrical Triangle. Very Bullish for a breakout at 1.39. How much effect will the DJIA on the stock..I'm not sure. I do feel the dow will make a pull back, I'm just not sure if we're in the beginning of a major pullback, or if its still a few weeks down the road. Will we see 10400 before the pull back..anybodies guess. One thing I'm certain of is by this time next week ..we'll
know one way or the other. If the stock falls below 1.25..Hold on tight..Where she stops will be anyone's guess...My target after a breakdown here..Will be 0.92 to 1.07...I'm also ok with buying some cheap ones down there...Lets just hope for the breakout around 1.39..GLTA
website www.hawaiianhospitalitygroup.com
Spoke with my broker today regarding my shares of CSTLYZ. He contacted the transfer agent and couldn't give me a time frame as to when the shares would be delivered to my account. So as of now my shares are (FTD) I was also told to fill out a form and send it to the SEC as a magority shareholder of more than 10%. I've yet to contact the SEC but will in the coming days to have them look into the fail to deliver. To my brokers knowledge..No shares of HHGI has been released as of today
Form T are trades that happen during the day, and are settled after hours...You guys take care..I'm no longer invested here..Its my last post
Buy some more...Back up your truck..Load your wagon..Get all you can...Convince others to follow...You guys are doing a pretty good job..Its classic
I got out of this today with about a 30% loss on a small amount...glta
Did your shares convert over to HHGI.
I'm showing CSTLYZ...So now there is a bunch of locked up shares..Well I say a bunch, but the count must be very few considering...lol nothing trading..I wonder why. The question is..Would anyone buy @ 0.16..I guess an even better question is..
Would any investor sell @ 0.16 for a huge freaking loss...I guess the company and its next promoter won't have any problem selling below that level. It seems they have R/S everyone out of this stock. Why the splits, back to back with no dump?
Never can we always be right.
I bought some here today...So now I have to laugh. Its almost like gambling. I'm late in the game
or am I. So many pinksheet companies have a story to sell. The one that sold me on this stock
was the fact that this company deals with MRE's. Twice in the last 5 years I've had to eat them to.
We were out of power and the stores were closed for 2 weeks. We lost everything on our ice box and we couldn't buy fuel for the generators. Sure we can pack up and leave, travel hundreds of miles to find food, water, and fuel, but there is something about getting hit with a hurricane. That after its passed..You go to work rebuilding. Anyway its the MRE's that brought me here. I've looked a few times for public traded company who dealt with mre's to the goverment. I've seen with my own eye's the truck loads
and I'm not talking a few trucks. At an $89 dollar a case sale price from another company I've seen
on the web selling them....I'd have to say that. If those contracts are true....This is no small
I'm not here to pump any stock..The pr company is doing a good job at it. If I was to issue an alert on it. I would say this stock is about to crash.
The closing of the gap at 0.05 worries me along with the fact that the stock didn't make a new bottom with its recent double. The bottom at 0.001 worries
me also. If we do..The stock should spike off of it.
Its an interesting chart to say the least. Yesterday the stock bounced off the lower support. Even though the stock price is down today.
We closed nicely. Next week should make or break this stock. Its headed for a breakout, or a break down...Its right around the corner..GLTA
I agree what we see, is what we look for. If you draw enough lines on a chart pretty soon something makes sense. That's why we can't go by chart alone. Without going too much into every way you can slice and dice a stock. One thing I feel strong of is..This stock is headed for a break out, or a break down. The only way to see the future is to look at the fundamentals. There is no crystal ball.
I feel as long as nothing changes drastic to the downside..We should be ok. I fully believe there is more upside than down. There are levers along the way triggering its ride up back to where this stock belongs. When things happen..they happen quick and everybody's jaw drops. All we can hope for is the success of this company and I believe they're on the right path..
GLTY
I loved the break at 1.25 ...Could this be the new support...Chart still looks in, The bounces off the lower support ..was nice also...I just didn't think we would test it that much..It was close to a break down and I was looking for the next buy opt @.92..GLTY
Some of you guys mustn't have many shares left.
1 million shares before last 1/100 R/S = 10,000 post split.
Now those 10,000 shares will be split again leaving you with 50 shares after the 1/200 r/s.
I don't understand the r/s
Since the last R/S the float must be low. The volume traded since the last split doesn't amount to much.
I'll keep watching this one...Good luck to you guys
I don't know what to make of this...I haven't found anything
The bid was 0.002 ask 0.003 Monday. Tuesday I was thinking about buying some and the asked moved to 0.004...LoL now the ask is sitting at 0.008.... I'm thinking this might have something to do with Casinos. I don't know..Kinda waiting on some news
Still alive...Its a slight heart beat, but at least..Its a heart beat
Been watching for a few days now...I'm in a bit higher but loved the bounce off the lower support today..Very bullish...If you looking for some more tomorrow..Looks like 1.17 will be the lowest buying point..If she holds that level look for a strong close and a slow steady rise for weeks to come...Looking very bullish short and long term. Short term resistant is at 1.25 we should have no problem closing above that tomorrow. Possible dip coming early to 1.17 and then a bullish rise...She might not dip at all...No gaps this time...Just a slow steady rise..GLTA
I noticed the company changed names about 10 days ago...The stock symbol and name is still Castle Technologies Inc. I would think news is pending
Float looks low ...with news pending...What's up with this stock...
Looks like something on the radar