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Ha. 2 trades. Like I said. Volatility (lol)
I does appear as though Mason pays special attention to PR timing. Not that all companies dont do that, it's just quite apparent here.
The big MI well completed pop, followed that night by the r/s pr. Deliberate imo, not that I understand it.
And now this. 24 hr production PR coinciding with the day (before) the RS.
It wouldn't be anything special were it not for the fact that they're part of an agenda to build value.
This is a CEO who not only owns the stock, he "owns" the stock.
Nah don't do that. It'll screw up my chart for a month (lol)
Sure looks better without that extra zero don't it?
Visualize success.
Just for kicks did some searches for anything recent mentioning Montecito.
Found this. Not much but we're just talking here.
Montecito's gulf leases are among those listed. Could speak to part of Montecitos original motive for entering into the sale agreement. "Use it or lose it."
10/19/12
http://democrats.naturalresources.house.gov/sites/democrats.naturalresources.house.gov/files/documents/2012-10-19_UseItOrLoseIt.pdf
Here's a link to a quick summary of Montecitos grievance
http://www.rigzone.com/news/article.asp?a_id=113170
I think most people here understand that use of dilutive financing at some point in the future is darn near certain. It could be used on D-Bar, S.Tx, or who knows, maybe even VM179.
On the surface it's easy to assume that's what'll happen. Dig a little deeper though and you find (from the last Q) that we have pre-approval on a non-dilutive possibility for $8.5M for VM179 and pay down/off of convertible debt. Coming out of the shareholders meeting VM179 has apparently taken front stage.
Non-dilutive financing (linked directly with a favorable verdict in the case with Montecito, imo) isn't a certainty by any means, but it's been made public that such an option exists. Then there's the CEO holding roughly 50M shares. Whether there's some creative way for him to profit from diluting his own shares I cannot say; I'm just a caveman, but when he dilute's the commons he dilute's his own shares as well.
It's atypical for any issue to make a dramatic rise in price in a very short period of time. When it does happen, the people left out invariably say "wish I'd believed in that possibility." When it doesn't, and the stock heads south those "out" say "It was obvious."
In light of all this, I choose to have some "skin in the game."
<maximum yammer factor exceeded - message truncated>
One of the nicer maps I've seen of VM179.
Make a nice trophy on the intro page if we get that sucker cleared by New Orleans Customs.
Rootin' for Team Mason there.
Nice to have a link.
Hold on to yer socks.
We're heading into the vortex.
Could be the plan (to include choke comments on the next I1 update). As for slow and steady, I (personally) am not counting on that with so many "material events" looming in the not-so-distant future. In particular the issue of VM179. Worthington and Montecito are fighting tooth and nail over that thing, which suggest to me 2 things:
a) They're not just fighting over scraps. Not an authority on the matter, so anyone correct me if I'm wrong, but interest in domestic/gulf assets has elevated since Volk entered into that agreement well over a year ago. Could be other suiters laying in wait at this point. The term "hot property" comes to mind.
b) Worthingtons persistence suggests that "we" (essentially) already have financing lined up. Can't imagine they'd fight so hard for something they can't remedy. T.Mason's already commented on having "options" (plural) to develop that lease.
This (again imo) points to volatility (which ain't necessarily a bad thing). Say we do win VM. That'll take $. What's the shape of that financing? Mason's mentioned a "non-dilutive" financing option in the last Q. Seems to me an event like that has the potential to create some serious SERIOUS "upward volatility." Conversely, there's equity financing. Short-term effect. Long-term effect.
I blather, but I should add into that "volatility theory" the possibiliity of eliminating convertible debt. Thorn in Mason's side no doubt. That'd be a biggie too.
Interesting. Appreciate the commentary. I don't doubt there's a "bit of an art" to coaxing that oil out. 400BPD...that'd be a big # compared to the expected range of 150-250 Silvermere initially published, although you did say "over time" and that leaves a lot of room for additional (and planned) development for MI. 270 boEpd seems like one heck of a good place to start from though.
Hope he elaborates on the choke situation. I know he's already commented on it and in a sort of piecemeal way relayed that flow rates would increase as cleanout continues. Would be nice to read a cohesive statement though. Something that puts everything together within the context of the wells present state.
You might recall Tony alluding earlier to "the smaller choke" being used initially. Sorry I can't comment on much larger the choke can get past the point of saying it means "more bopd in the future."
But it's good you point that out.
This is initial 24-hr production.
There's still clean out taking place AND we get another 1% (or something like that) out of each additional well Silvermere drills from MI.
How ya gonna bet the 8 horse?? $MTSL
http://seekingalpha.com/article/958221-mer-telemanagement-solutions-small-cap-turnaround-opportunity?source=yahoo
haha, ok buddy
Live I in the week will I not.
(for news)
Have to admit todays trading activity seems a little unusual.
Feels like we're on the verge of some PR.
Like, today...or tomorrow.
Welcome Gremlin. No one knows for sure, but I believe the general consensus is within the next couple weeks.
Anyone begs to differ on that assumption no worries, chime in.
A waking dream?
Now your talking.
actually i'm thinking the private placement might be in combination with the $8.5M pre-approved non equity based loan.
if so, this would mean VM & d-bar would both be closed, and drilling in process... shortly.
Agree on all counts x
It'd surprise me if the split was Montecito's idea, but hey, post-split they can't complain that the pps is sub-penny or that their shares would have to be sold into an illquid market, so ya, could be.
The strategy for the capital change has yet to be revealed, but there IS an explanation for it and settling with Montecito (from Tony's post SH meeting comments) certainly appears to be the top priority now. I think you and I are both calling this Tony's "option b"
And then yes there's "option a"
Large $8.5M private placement to which Tony has already referred.
I'd say that on the surface "option a" seems better, although if Tony's debating both approaches they must somehow be more equivalent in benefit for his purposes.
Could also be a situation where the "best option" is the one the judge requires.
Could also be that Worthington is saying "hey, look, we're offering Montecito two options here. What more can they ask for?"
Not a bad way to present a final arguement towards a ruling if ya ask me.
Sellers remorse ya if they were paid $1.5M based on .245/share basis. If they sold those shares they didn't get any .245 and if they held them...well, nuff said there, but they did accept those terms, at least for the first half of the $3M.
As for the promissory note. Pretty sure we've been in default on those payments.
Sorry to cite a citation in one of my own posts, but I get lazy.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78927887&txt2find=montecito
But I'm splitting hairs here.
No doubt, what matters most is whether or not this whole shebang is reconcilable with us getting VM develompment underway.
Tony's blog comments and the effort he's invested into the pursuit of financing for VM suggest this is reconcilable. Just need the judge to say "Montecito, they've got your money and then some so sorry pal, case dismissed."
Book value? Ya I wouldn't mind knowing what that is too, and I might be inclined to agree with you on it's usefulness here, but man it's a long road btw here and realizing any gains that way. Not to mention PepsiCoke won't want anything to do with Jones after "the Bong Water soda" controversy, haha
I like Jones Soda. It tastes good, but dang how ya going to sell that stuff with like zero product visibility? I realize advertising costs big $, but in this economy who's going out of there way for gourmet pop?
I bought a handful of shares just for fun, but until this company gets some exposure and finds a way to work itself into popular culture (had to say it) I just don't see it ever happening.
Did a quick google search for "Jones Soda Ad's"
You'd think there'd be 20 uTube links within an easy click or two, but what comes up is something from 2009 and a link to some black-face controversy
http://jezebel.com/5721411/actually-blackface-is-also-offensive-in-new-zealand
Want cheap attention? Try pumping out some pot-flavored soda. Didn't they make Turkey Dinner flavor once? They've got the technology. Put a big ol Pot leaf on the front. They'll be picketing in the streets but it'll be plastered all over the news. Some stores will boycott your product, sure, but they ain't selling anything anyway.
On the other hand, when them hippies are buying their bagel sandwiches you know darn well they'll reach for that "bong water" and maybe next time they shoot for the cream soda, who knows. Just get Jones on the brain.
There ya go $JSDAQ
mustang island imo is the collateral for our loans. when we see 24 hour flow rates, i'm betting the fireworks start.
I agree, and that segment of the market that doesn't see the value coming into focus here soon will when it's announced we have a source of consistent revenue on the books (modest as it may be). No doubt that's the difference many look for before buying a stock; any stock really, not to mention we're almost certainly under the radar for being sub-penny. Quite a bit of new exposure about to occur:
New people discovering who Tony Mason is and what he's done.
New people looking for a good oil play.
New people finding out Worthington has (at this point) a foothold on the (dare I say highly desirable) VM179 reserves.
We've been channeling in the 01-005 range based mainly on the speculation that MI will book us what 1/2M per year.
In what range will the price channel when it's based on the actual revenue PLUS the speculation of another net 500-1500 bopd?
Maybe I can be of assistance here.
Krissy:
"(If this stock has any value when why have people been selling blocks of 400 and 500k for the past two weeks? Wouldn't the bigshots keep them if some postivie material event was about to occur?)"
"Explain to me how the convertible debt cycle works again"
"I want to buy WGAS for .0002 but the universe isn't cooperating so I'm resorting to these incantations."
Aww shucks... Are you suggesting the pps is going to head back up in the month's last 5-7 days of trading
just like it has for the past three months of Tony Mason's tenure as CEO?
Hardly seems the way to behave for a stock with no core value and nothing great on the horizon! ;)
There go my long-term plans to lose money on WGAS.
Thanks for something x.
No kidding? Interesting.
Would you mind expanding on that a little?
Ha! Thought this was a PM. Oh well. Let er' rip. What'd he say?
On the subject of Silvermere, am I the only one who thinks there's a possibility that we'll be teaming up with SLME at some point in the coming months? Maybe on VM179? I know it's not much to go on, but SLME did dilute a couple months ago "for the purpose of future opportunities" (or somthing along those lines). Mason and his countrymen in SLME already seem to have a good working relationship.
Just a thought.
Because we're in a VWAP calculation period and if those who hold "conversion shares" don't sell them they're essentially missing out on a chance to sell shares they'll be getting back next month.
Probably can't move forward with the RNS (Regulatory News Service) till they get the "sheep specs."
I'd argue that MI flow rate PR is going to be a bigger deal than it's modest #'s will imply, and that the timing of the PR will be used for (what the company determines to be) maximum benefit to the company. They might use the PR in relation to the R/S event (to offset the acute impact of the R/S or recover from it), and in doing so the PR would have a stabilizing effect on the share price. Says I.
Gad dang we got some info-enthusiasm here.
This board ain't turning bullish again is it?
Everyone get their fill at 005?
Yep. Easy to forget Mason's plans have (from the beginning) extended beyond this month-to-month cycle we've been in since ~July. The clues in the last Q verify (or should I say support) that. As for the R/S I can't say whether Mason wanted it or not but I'm comfortable assuming Mason knew how bringing MI to WGAS would affect the companies valuation.
Wouldn't you agree, without Mason (and MI) we'd be trading somewhere well south of this .01-.005 channel like some "typical penny?" That to me looks like the beginning of a success.
You're saying one last tranch off of this vwap run down? I think we're in agreement.
Interesting to look at the last several months-worth of daily's. The 25th of the month(almost to the day) marks the bottom prior to a run up. Could be the last day for these prices.
Well what do you suppose x? Last stand for "the tranchers?" They're hitting it pretty hard this month's end.
I'll second all that x
And as for this...
i'm sure every single dollar of that $8.5M has been earmarked as to how it will be allocated. no one lends that amount of $$$$$$ and just says "okay, go have fun with it!"
One thing that seems apparent is that VM has taken front stage coming out of the shareholders meeting, and yeah, I'd have to assume Montecito's got sellers remorse, if for no other reason than the fact that they've had the asset tied up in court about a year.
Not really.
You thinking about getting back in?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=79521822
Let's see...
1000 bopd
x $90
/2
x300
/1,000,000,000
x10
Oh no...an 18 banger from 0074 on the low end...