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Understood. But how was BD able to secure the rights to these leases when no other company (incl those familiar with, and already working the area) did not opt to do so?
Was BD that much quicker to realize the potential? Did they pay more?
localoil,
When BD purchased these leases (or portions of the leases), someone was obviously offering them for sale. Many of these wells were not operational at the time of BD's purchases.
In your MHO, the reason(s) for these particular well locations (1) not being worked at the time, and (2) were they available from the landowners or from the prior producers?
Assuming newer technological methods can force additional extraction of oil from older wells, would you expect any increases to be minor or significant, based on any recent experience or known results?
TIA
likwit, the number of BD shares outstanding exceeds 104M. Hopefully the company will make good on its word to buy many of those outstanding shares back. As the number of shares out decreases, the share price may be positively impacted - and that is a GOOD thing.
Perhaps Lou can verify this for you with someone who is a "good family man".
Buying 90,000,000 shares at $.07 = $6.3M and you control the company.
What would the payback have to be to recoup that investment in..say six years? What would BD's production (and NET revenues need to be on annnual basis?
Or, what would BD's production and NET revenues need to be to earn said investor(s) a 100% yield on their money?
Forgetting all that accounting...how about a stock price increase in the range of $.20/share....
Suggests that (1)IF the production numbers can be verified, and (2)IF the actual revenues to BD can be verified, and (3)IF the new oil reserve analysis can be significantly substantiated as being something really worthwhile, and (4)IF the price of oil remains steady or rises (more likely) and (5)IF the new management can rid the company of Lanza influences and effect operational efficiences and effectiveness....the potential for that price increase (and higher)looks pretty good.
Credibility should return with new, capable, and proven management in place. An up to date SEC compliant Audit should put BD back on people's radar screens. The rest is up to the drills, the rigs, the weather, and the transports.
Here's hoping!
No need to. He and his phony PRs and fraudulent misrepresentations may soon be but a bad memory. In a way, I'll hate to see him go - I was hoping we'd have an opportunity to see him in an orange jumpsuit again!
"New found religion"
dragonman,
If only half of what Lou is saying is half true, and will occur in any where the timeframe he says, we are in for a quick ride up.
The mere thought of BDGR having a competent CEO who is not related in any way to the Lanza family is enough to excite those of us who have fallen victim to his earlier fictions.
Images of multiple suitors.....getting away from Petrol services....Having competent management....Possibilities of increased production....possibilities of additional wells.....Truthful PRs flowing with accurate information...Increased marketing promotion and awwareness....Better weather.....increasing oil prices......and of course, THE AUDIT, followed by a 2007 current data release....Heck, we could see $1 by Christmas!
I'm loading up today and early next week - provided, of course, there are enough sellers...
I should save a few bucks in reserve and buy Lanza a nice Hallmark sympathy card....naw....too many bad memories.
Happy, Happy, Friday!
Gets back to my question - why in the world didn't hard- working Lou not get answers to these burning questions remains a mystery to me. (Easy for me to sit and say, but I would have forgone dinner and drinks and hounded the daylights out of JL if I had him in front of me for a few hours - or days.)
I'm buying more at these prices, but I'm far from being convinced enough to jump in any deeper.
There are three simple, most basic, business questions which would really make me comfortable with BDGR in its current state. Unfortunately, neither Joe, nor Gary, will, and certainly no one on this board is any where near capable of answering with any level of accuracy.
Someone once said "The best way for evil to triumph is for good men to do nothing."
Perhaps, the best way for this stock to begin its over-prophesized meteoric rise is for good men to demand complete and truthful answers be immediately forthcoming.
Any one know who our other newest director is and how to contact him or her? Maybe he/she can get some answers to questions other than whether JL is a good family man or not.
I believe that is what the SEC routinely refers to as "insider information".
It will be interesting to see...
LOL - "The reason BDGR is not 10 times higher is because of posters on this board.."
Funniest thing I've read in a very long time. You certainly do have quite a sense of humor.
Am I to understand that we still have no idea as to how much of BD's production actually generates revenues for BD?
Is there no hard information that indicates that?
ie:
7,000 gross barrels produced.
6,000 gross barrels shipped/sold
3,150 net barrels paid to BD
Someone has to know that information....
ie:
Well # 406
Generated 30 Barrels in June
BD's ownership is 100%
Net barrels of 30 times $74 = $222 Gross sales from well 406
Well #407
Generated 120 Barrels in June
BD's ownership is 40%
Net barrels of 48 times $74 = $355.20 Gross sales
Not exactly rocket science...
That would have been a great question to have asked JL while you were making nice.
Certainly not meant to toss any cold water - simply to ask a few questions re your synopsis and observations. I know everyone, including me, appreciates your best attempts to try to get the tough questions answered.
"First things first, Joe Lanza. A big bear of a man that seemed to rule with strength and kindness. I was afforded the opportunity to sit in Joe’s office with him on Friday and meet many of the field employees as they came in and discussed the week’s progress. I cannot thank Joe enough for his hospitality and openness in allowing me to dine each evening with him and his family. I was treated both like royalty and one of the family.
*** Naieveness and gullibilty aside, any doubt of his sincerity or motives in the presence of a man he knows will publicly post what he sees for the rest of us to digest? My doubtfullness comes a very long list of Lanza issued falsehoods, misrepresentations, deliberate ommissions, and overt lies - I'm sure you can understand that. I imagine JL displayed the same kindness and genuiness when he sat with others in a similar vein years ago and calmly stole their life savings.
"To meet with Joe personally and see how he is loved by his family, gives one a far different opinion of him than has been portrayed in the past."
*** Forgetting the fact that JL has always worked for the sole benefit of his family - to the chagrin of many of us - it is quite understandable to know he is loved by his family.
Does that have any bearing on his current management and direction of BD? or can we expect him to continue to divert significant funds to his family via Petrol, Four Star, or the other companies he owns?
I guess I have an issue with your wording "portrayed". As far as I have been able to ascertain, his 'portrayal' was accurately representative of his own criminal doings, as evidenced by prior acts and facts. Whether he has indeed turned a new leaf (under duress or not) remains to be seen.
It would be very positive if he has indeed 'seen the light'.
"The walls of Joe’s office are covered with erasable boards listing each lease, the number of wells on each lease and the amount that are open and pumping for that lease. I did not count each lease or each well on each lease, nor the amount of those wells that are pumping. But all that info was available on the boards around the room. I did begin the task, but came to the conclusion that it would take a full day. So I did a quick estimate and came to the conclusion that there are 1200 or so wells and over 500 in production and that these wells produce in excess of 8000 barrels per month."
*** Any credible knowledge as to what % of those barrels yield/will yield revenues to BD and what % will be paid to others who hold interests in those wells?
"I met and spoke with Nick (I’m guessing he is operations manager for Petrol), Mario Lanza, Pres. of Petrol, Dave Taylor, office manager, and Gary, BDGR’s new CFO, the two young lady’s that keep it all together, Pam and Jessica, and some of the field personnel. From what I saw, our personnel are not only top notch, but seem to be part of a family working towards the same goal. We have the backbone of a great company, great employees."
*** So should we look to buy stock in Petrol or BD?
"The Audit. I spoke with Gary concerning the audit and although in the past I believe I had received far too optimistic estimates concerning the audit from others. There it was, 6” deep on Gary’s desk. Correspondence labeled to and from Malone and Bailey. It is happening. Being a director, I have the ability to speak directly to partners at Malone and Bailey and have done so in the past week. They have confirmed that a retainer had been paid some time ago and that the audit is moving forward. I must please request that potential and existing shareholders refrain from calling the audit firm as they cannot give out info to anyone but officers or directors."
*** What, like we shouldn't take your word for it? The unaudited figures are now posted on BD's website. Is this the audit data that the former CFO put together for 2005 and 2006?
"Gary believes a realistic estimate on audit completion is the end of August or early September."
*** Any idea when an SEC compliant audit will be forthcoming?
"BB listing for those of you that may be unaware, it is in the works as well. We have contracted with a securities lawyer to handle our listing application and SEC filings. I expect that we will apply for listing as soon as the audit is completed."
*** Forgetting that those same words have been worthlessly and repeatedly issued for some time, I didn't think BD had the available cash to proceed with that expense..../??? Do you think the past PR's will have any effect on the granting of that listing? Is there a risk that the SEC will investigate BD too much prior to determining whether a BB listing might be granted?
"The big wild card here is Mike Ellis. I have not had the opportunity to speak at length with him as of yet, but expect to this week. His credentials and abilities are without question and a huge asset to BDGR. And if his predictions of increased well production are even close, we will be a major player in LA oil production soon."
*** That conversation and resultant responses could allieviate many concerns re potential production (esp after the WEXCO fiasco.
"I have done my best in what little time I’ve had to understand the people and workings of our company. The statements I have made are to the best of my knowledge accurate and honest. My belief that we are extremely undervalued has been reaffirmed by this visit."
*** Were you able to ascertain what current liabilites are - beyond the submitted 2005 and 2006 unaudited data?
*** Did you have the opportunity to inquire as to what percentage of current production would generate revenues directly to BD? (as opposed to other % property/lease holders)
*** Were you able to learn just how many shares were currently outstanding?
*** Were you able to learn who the major stockholders are?
*** Is there a round of financing planned/needed for current operations?
*** Re cash flow positive status at 9,000 barrels/mo - is that 9,000 GROSS barrels produced, or is it 9,000 barrels NET to BD? NET, in the sense BD receives 100% of the revenues?
*** Are we any closer to knowing when the numbers for Q1 & Q2 of 2007 will be made available?
*** Which would you see occuring first - an acquisition or an SEC investigation? Did those topics even surface during your visit?
*** Were you at all able to tactfully ask JL about the past PRs and lack of credibility for BD that they generated? Any comments in that regard taht you can speak to?
TIA for your inputs and clarifications.
Does anyone remember/know what % of these wells BD owns?
BD has posted their unaudited financials on their website.
Explain?
I'd really like to see that SEC compliant audit on the heels of what they sent to M&B.
Today's Production report agains references "Gross" and not the more important "net" to BD production. That gross number is near meaningless. Heck, the Gross could double or triple in volume, and have only slight impact to BD - depending which wells, and the actual BD ownership percentage of those wells, are involved.
Likewise, the gross production numbers could actually decrease and yet have BD's revenues increasing - if the wells with the greatest % of BD ownership experienced growth and the lesser % owned wells slowed down.
Some day, we'll see the real numbers!
And, to what end, might that serve?
As a director, he can not divulge info that is not yet public.
Kind of like, taking the fifth, wouldn't you say?
I suppose I could ask him about his boat....
Hi Mark,
I did get back in (altho not at the lowpoint) partly because of Lou's emails and partly because I was able to independently confirm a few things that had been a concern.
I'm still not clear (And no one else at BD seems to be either)
as to actual BD production (as to what percenatge they receive, vs what the wells produce). We're all too familiar with past production claims. Just once, Id like to see the monthly production detailed with these parameters:
# Of BD Wells (Owned, controlled, portions thereof)
# Of working Wells
# of Barrels Produced per well
# TOTAL Revenue received from this production
Actual revenues (to BD) attributable to BD's share of that production. No disguises, no misrepresentations, no confusing wordsmithing, just the raw, FACTUAL data.
And wouldn't bar charts be a wonderful tool to display any growth figures!
Combining what I did learn, with the fact that Ed is now a mouthpiece for Lou suggests to me that Lou has some solid facts and knows well of his 'directorship exposure risk' in releasing anything definitive prematurely.
Odd that BD has not yet PR'd the new CFO hire. Just having one is a plus!
Happy Friday the 13th!
Call who?
Thanks for that info ED, But my questions remain unanswered.
And that, makes me even more curious....
Hopefully Lou can explain what percentage of those 4,000 BOE sold went to BDGR.
And, perhaps he can finally get an answer to what is meant by the 9,000 BOE quote re cash flow - ie; Does BD have to produce and sell 18,567 BOE in order to receive their share of the revenue percentage on 9,000? Or, do they simply have to sell 9,000 BOE from wells they own 100% of? Or some combination of both?
The last statement I saw indicated 12,000 BOE were produced from wells "owned" by BD, but BD received revenues on some 4400 barrels.
Of course none of this matters a hoot if they are soon to be acquired as Lou has suggested.
Ed, if you would, ask Lou if this is the same Gary Zorne that is now the new CFO of BD. If he is....does Lou have any reservations about his past audit results?
http://sonlite.dnr.state.la.us/sundown/cart_prod/cart_con_orgad?p_orgid=T184
Officer Name Title
GARY R. ZORNE V. PRESIDENT
Organization Red Flags
Effective Date End Date Warning Status Warning Description
04/25/2002 F FINE-CIVIL PENALTY HAS BEEN ISSUED
04/19/2002 F FINE-CIVIL PENALTY HAS BEEN ISSUED
04/08/2002 F FINE-CIVIL PENALTY HAS BEEN ISSUED
02/19/2002 F FINE-CIVIL PENALTY HAS BEEN ISSUED
04/03/2002 F FINE-CIVIL PENALTY HAS BEEN ISSUED
01/04/2002 F FINE-CIVIL PENALTY HAS BEEN ISSUED
08/15/2002 F FINE-CIVIL PENALTY HAS BEEN ISSUED
06/19/2002 F FINE-CIVIL PENALTY HAS BEEN ISSUED
09/08/2000 07/05/2001 F FINE-CIVIL PENALTY HAS BEEN ISSUED
01/24/2001 01/24/2001 F FINE-CIVIL PENALTY HAS BEEN ISSUED
03/21/2002 S FORM R-4 SUSPENDED FOR PRODUCTION AUDIT DISCREPANCIES
03/19/2001 03/25/2001 S FORM R-4 SUSPENDED FOR PRODUCTION AUDIT DISCREPANCIES
10/20/2002 X NO RESPONSIBLE PARTY/CORRESPONDENCE UNANSWERED
Dearest Lou: Attack me all you want - I'm not the one who withheld revealing information on BD's actual Oil Production -YOU are.
I'm not the one that withheld revealing information regarding Barry's damning letter of resignation - YOU are.
I'm not the one that emailed both of those pieces of crucial data to me - YOU are.
I'm not the one that concealed pertinent information from this board. YOU are.
Perhaps in those rare moments of self-proclaimed stupidity, when you elected to send me that information, you overlooked the possiblity that I might actually display some rational
thought and share that very information.
You see, unlike yourself, I am prone to share information - good and bad - if I think it benefits others. I was VERY positive on BDGR before I discovered my beliefs were based on company issued lies. Since I had promoted the company (before I knew of the lies) I felt it only just that I should let others know what I now knew.
Instead of concealing what you DO KNOW, why don't you make every attempt to find out what you DON'T KNOW?
Instead of denying the obvious, why don't you make yourself useful and get answers to the burning questions on this board?
Instead of all the personal attacks on those who either disagree with you - or post factual information you didn't want made public - why don't you use your time and energy to produce verifiable evidence as to why BD stock is now a good buy.
Show us all some of that Integrity you claim you have - or has that too joined the ranks of lost credibility and been replaced with mis-directed blind support for Lanza?
BTW, albeit small, I am still a shareholder in this company - and unless I'm wrong - as a Director of this Company - you now work for me. At least you should be representing my best interests - why don't you try doing THAT for a change?
DragonMan, Just so you remember - I'M the one that did NOT get a comfortable feeling at the Luncheon that LOU ARRANGED.
I'M the one that sold most of my BD stock and posted that fact as I didn't think that Barry or ANYONE else could persuade Lanza to ever do the right thing. Lou believed the opposite - that Barry was the second coming and he looked forward to following his every move as he continued to bail out and rescue yet additional companies. Unfortunately Barry hadn't met anyone like Lanza in his travels before. For my post, I was labeled a basher.
I'M the one who looked at the spreadsheet that LOU EMAILED me and decided to share the value of seeing and appreciating
that data. I was aghast at the low numbers of production and the lack of yearly increases in production - especially given the production amounts falsely stated on BD's Press Releases! I thought that information should be shared with anyone on this board - particularly if they were looking for pertinent INFORMATION about BD. Of course, for doing so, the likes of Mr Charts again labeled me a basher.
Lou, on the other hand, a man of Integrity mind you, opted to conceal the data and continued to hype BD.
I'M the one that let the board know that the amounts of money paid by BD to Lanza's Four Star Company had accelerated from $3000/mo to over $70,000/mo. I'M the one that was concerned that Lanza was milking BD dry and depositing the profits into the ongoing "Lanza trust fund".
Our man of Integrity opted NOT to reveal this information. Only he knows his motives for not sharing what I considered valuable information for anyone doing due diligence on BD. And, of course, Mr Charts again accused me of bashing.
When I read the letter of resignation from the former CFO of BD, I chose to share its contents as I thought it appropriate for any investor to see. For my effort, Mr Charts and others of his ilk, again referred to me as a basher.
LOU, on the other hand, a man of integrity, WHO HAD SENT TO ME
the email with Barry's letter attached, chose to conceal its contents from this board - and to chastise me for alerting others.
It came as no surprise to me that Barry was not successful in helping to turn BD around. The Lanza factor was too much for anyone to penetrate. The man of Integrity opted to accuse Barry of selling us all out - rather to put the blame where it squarely belonged - on Lanza.
I can easily forgive your non-command of the English Language, but please get your players straight and understand who has been forthcoming with information on this board, versus those who conceal, misrepresent, AND send private emails so they can't be challenged for any possible misrepresentaions or ommissions.
Other than that, have a GREAT day!
It just may be that BDGR IS profitable - just re-directing those profits to other Lanza controlled 'companies" for the benefit of the Lanza family.
I couldn't agree more.
You could not be more wrong.
Hey - Don't include me in that scam camp - I'm the one who kept telling everyone to beware - remember? I'm the one that was accused of being a basher - remember? I'm the one that Lou and his friends kept trying to discredit....lest anyone pay attention.
Make no mistake about that- PLEASE!
Ed, either you were at a different luncheon than I was - or Lou asked you to post this for him....or both.
Maybe there was another luncheon ..... one I was not invited to.....????
I do remember Lou telling me he had spoken with Barry and had discussed the whole collapse of a possible merger - AFTER the collapse, and WELL after the date of our lunch. At that time Lou told me (on the phone) of the details, as he understood them - including his belief that his once revered friend Barry had done him (and the shareholders) an injustice.
So - it would appear that you and Lou are again misrepresenting - if nothing else - the timeline of events. I hope the reason for this is simply poor memory.
If Lou was correct in his post on that subject - it was to have been a 1 for 3, but at a price of $1.50 ... yielding a $.50 share price after the reverse split.
Of course, I may have mis-read Lou's post...
Ho Ho Ho. "I was never given Barry's resignation to post. 57tbird was. However, it was sent to me by 57 and I did read it. And immediatly realized it was the ramblings of an angry person who didn't make a million dollars at our expense. Barry's intent with that was only to hurt the company as an act vengence. I was not going to help him."
Odd that Barry did NOT want it posted and asked me not to at that time. Now here you are claiming he asked me to post it. Hmmm.. I wonder why I didn't.
Odd that if that merger had taken place - the stock price (as you eloquently stated very recently) would have been $.50. That would suggest all stockholders would have benefited at that price.
Even more odd is your assertion that Barry was angry - of course he was - and he clearly stated that in a recent post - where he reiterrated the absolute self-interests of your buddy Joe Lanza.
I'm starting to wonder if there was some other arrangement between you and Barry that I don't know anything about....one that has caused you to turn your opinion of him 180 degrees.
WHAT? "What took you so long to post that? Barry tried to get you to post it months ago."
Another convenient bout with selective memory?
I guess you forgot that he did NOT want that posted at that time.
You are certainly consistently incorrect with your posts - I'll give you that.
FastB also said in his - now public -letter of resignation:
"As a result of recent actions and changes in management and control of Black Dragon Resources Companies, Inc., I no longer have confidence in the current Management or Board of Directors of the Company to act in the best interests of its’ shareholders. Furthermore, I no longer believe on an ongoing basis, that I can reasonably rely upon information that may be provided by this management regarding operational or financial matters of the Company. Accordingly, I hereby resign my position as Interim Chief Financial Officer of Black Dragon effective immediately."
Just a reminder, for those who may have selective memory issues....These words from someone who knows far better than any of us, the status of BD, and certainly the whim of Lanza.
To ignore his statement is as dumb as blindly believing anything Lanza puts forth. (Unless of course, your handle is Yankee or Charts as they seem to know more than FastB)
Ho Hum.
Is that what you say when you look in the mirror?
Or are you trying to earn Poster Of The Year award with that fantastic prose?
Actually, I think jmap's response to you has more of a chance at winning that award. One word from jmap that says it all -short, to the point, and right on.
localoil - Would you consider putting together a long list of meaty questions with spaces for Lou to write down JL's response (since he won't have a tape recorder with him and his selective memory is already waning). The type of questions that you've already posted, along with any other pertinent ones that would help identify reality for Lou.
If it turns out that your schedules preclude meeting, he'd at least have a basis for asking the really intelligent questions a savvy oil man would likely pose.
TIA!
"Start buying monday"
Okay!
"big news coming early next 2 weeks"
Wonderful!
"don't let the big boys steal your shares."
I Won't.
"Oil is going higher"
That's great!
"and BDGR is a value at 9 cents."
More so than when it was at $.18 I bet!
"And my vote is 1.00 a share short term."
Wow!
"and 5.00 dollars 12 month."
Double Wow!
"Wait for the storms and see where oil prices go."
Why wait?
"Double up and bring your cost down"
I should buy a few million shares first thing Monday morning!
Thank you soooooo much for your insightful profferings. What day do you expect the big news will come out? Tuesday? Wednesday? Maybe Thursday? How about Friday - that's always been a good day for news. Saturdays are not so good. Sundays are worse. Or maybe Monday - I forgot about Monday....Oh how I wish I could buy more shares today - in advance of the really big news coming out.
Do you think Exxon will be buying them out? Maybe Shell...or a lesser known oil company like Total. It's all so exciting...
Possible Scenario Number Two - Members of the Board are about to meet to discuss Black Dragon's operations:
JL: "Good morning everyone. Thank you all for coming. I'd first like to go around the room and introduce each member for those who are new to our board."
JL, wearing an oil stained tank top which exposed the tattoo on his left bicep, indicating his love for his mother, began the introductions:
JL: "To my immediate left is Miss Represent. Lie, as we affectionately call her - short for Lilah - is in charge of all of our Press releases."
After a few pleasant hellos were exchanged JL continued:
JL: "Sitting next to Lie is Miss Leed. She is our liason with the local community."
After a few more pleasant hellos were exchanged JL continued:
JL: "Next we have our Attorney from the well known firm of Dewey, Cheatum, and Howe - Mister Reeman."
Mr. Reeman never looked up and remained true to his name -'Mystery Man'. Continuing around the conference table, JL continued:
JL: "Next we have our newest Director, Mister Integrity."
The newest board member stood up and indicated how pleased he was to be a part of this swell organization. He spent the next six minutes indicating how he was looking forward to meeting one on one with everyone and learning as much as he could about the operation from them all. He hadn't noticed that Mr. Reeman had quietly and innoculously pulled his chair back towards the wall. The result was quick and brought a roar of laughter from those in attendance.
Reeman: "Oh, I'm so sorry Mr Integrity. Are you all right?"
Integrity: "That's quite all right. I'm fine really." He dind't want to cause any hard feelings his first time meeting the group.
JL: "I should have warned you about sitting next to Reeman. He's always trying to drum up injury lawsuit business for his law firm. Moving along, next we have......"
JL paused, for a brief moment he had absolutely no idea who the next person was. The individual gracioulsy offerred his name.
"Hi, I'm Xavier Con. I'm in charge of all production counting and reporting."
JL: "I'm sorry. I forgot. It's so seldom that we ever get to see you. I didn't recognize you without your hat and sunglasses. How are you?"
XCon: "Fine, considering that you never return my calls."
Ignoring the last remark, JL introduced the last member in attendance: "This young lady is Ima Felon. Ima is our bookkeeper, and a darn good one at that. She somehow manages to keep not one, not two, but THREE sets of books for us."
The room suddenly went silent. Ima was staring straight into the cold, black eyes of JL. Though his thick glasses were reflecting the morning's rising sunlight, everyone could see the fear in his eyes.
JL: "Ha HA - I was just kidding. Just one set. That's all. One set. Right Ima?"
Ima wasn't smiling, nor did she acknowledge JL's poor attempt at covering up his faux par.
JL: "Oh, and joining us via conference call from the shores of Ireland, our second newest member, Mister......Mister......"
From the speaker phone came a loud voice peppered with obvious annoyment: "Mister Izzy Sorry."
JL: "Yes, I'm, ah, sorry, Mister Sorry."
There was trickle of laughter emanatating from Miss Leed and Miss Represent. Upon seeing the unfriendly looks from others, they quickly cleared their throats and sat up straight.
JL: "Now that everyone has been introduced, this meeting is declared open and closed."
JL softly banged the table with what looked like a broken six-iron, and promptly left the room, the building, and drove away in his new Bentley. As everyone began to disperse, Mr. Integrity asked why they were all leaving and why the meeting was so abruptly ended. Reeman answer for the group:
Reeman: "Oh, that's how JL handles every board meeting. that way there are no conflicts, no shouting matches, and no arguments. Everyone leaves happy."
Integrity: "Happy? How can everyone be happy when we haven't discussed any of the important issues?"
Lie: "According to JL there aren't any important issues that need to be discussed. Between JL, XCon, Ima Felon, and the rest of us, we manage to fix, hide, conceal, or bury the important stuff. See ya next time."
Lie and the others were off in a flash, leaving Integrity alone in the building. As he pondered his predicament, the phone began ringing. Instinctively, he answered it:
Int: "Black Dragon Resources."
For a few seconds there was no answer at the other end. Then a voice asked:
"Lou, is that you? It's me - TBird. I was trying to reach JL to ask him about today;s Press Release."
Int: "Today's Press Release?"
Tbird: "Yeah. It says the board met this morning to review the audit results, and it was decided to issue another 40 million shares to pay for...Hello? Hello?
TBird never got to finish his sentence. He heard the phone fall to the concrete floor.
Three potential scenarios with L's meeting with JL:
Scenario # 1
The Director is met by an attractive redhead as he enters BD's not so sprawling digs:
"Hi. You must be L. I'm Lilah, but my friends call me Lie."
Dir: "Good morning."
Lie: "Joe and his attorney got called out to a meeting, but Joe asked me to help you in any way I can. Donut?" The redhead smiled and turned slightly, revealing her many feminine attributes.
Dir: "Oh, I see. No Thanks. Perhaps I could come back later today...or tomorrow?"
Lie: "Joe told me to tell you he's likely to be out all week. Tea?"
Dir: "No Thanks. Maybe I could meet with him in the evening or early morning?"
Lie: "I don't think so. His meeting is out of town. Coffee?" It was clear to the Director that Lie was referring to some hand written notes.
Dir: "No thanks. Would it be possible to take a look at the books?"
Lie: "Sure, are you interested in Childrens, mystery, or documentaries?"
Dir: "I meant the company's accounting books."
Lie: "Oh. Joe had to bring those with him to his meeting. Cookie?"
Dir: "No thanks. I guess my timing wasn't the best."
Lie: "I guess not. Would you like a tour of the oil wells?"
Dir: "I would."
Lie asked the Director to drive while she gave directions based on a large, hand drawn map of the area. She handed the Director the keys to a brand new Lexus LX470.
Dir: "Nice car."
Lie: "Yes it is. Joe gave it to me on my first anniversary working here."
Noting that the Lexus appeared to brand new, the inquisitive Director took note of the odometer. It read 412 miles.
Dir: So, how long have you worked for Black Dragon?"
Lie: "Black Dragon? Oh, you mean for Joe. A whole week now. I just celebrated my first week of steady employment."
Dir: "I see."
Lie: "Here we are. On your left is one of our wells - number '906'. It generates 3.4 barrels of oil."
Dir: The director took note of the placard with the number '906' hanging from the rig. "Per day?"
Lie."What's that?"
Dir: The production of 3.4 barrels. Is that per day?"
Lie: The map doesn't say. (they continued on a rough road for approximately 50 yards) Take your next left."
As they turned left the Director noticed a shadowy figure almost concealed in the nearby brush. After less than 100 feet, he was instructed to turn again.
Lie: "Take this left."
As they drove approximately 50 yards down this road, Lie announced:
Lie: "On your left is another of our wells - number '609'. It also yields 3.4 barrels of oil."
The director noticed the hanging placard with the number 609
on the rig. He also noticed the same shadowy figure lurking in the bushes nearby.
Lie: Take your next right. Up ahead on your right is well number '011'. It generates 2.5 barrels of oil."
Dir: "Hmmm."
Lie: "Take your next right up ahead."
As the director drove on over the bumpy roads he caught sight of that same man parelling their route.
Lie: Take another right. Up ahead is another of our wells - number '110'.
And so the moring went. The director was shown wells number '96', '69', '10' and '01". After they returned to the office Lie gave him some more good news.
Lie: "Oh, before I forget, Joe has made reservations for you at Jayne's restaurant. Here are the directions. He wanted me to tell you to be sure to tell the receptionist who you were. She'll make sure you receive a 10% discount and won't be charged a meals tax. Of course, they won't be able to give you a receipt."
Dir: "Hmmmm."
Lie: "I'm sorry your trip couldn't include a meeting with Joe. Maybe next time. did you have any other questions I can answer for you?"
Dir: "Would you know the status of the audit" The Director had a hunch she wouldn't but he asked anyway.
Referring to her notes, Lie appeared concerned. Looking up, she timidly announced: "I do but I can't tell anyone."
Dir: "Why not?"
Lie: "I might get into trouble and lose my job. Are you wired?"
Dir: "No, I'm Lou."
Lie: "Oh that's good. But I still can't tell anyone."
Dir: "But Joe said the audit was nearly done - and that was over two years ago."
Lie: "I wouldn't know abut that, I've only been working here for two days."
Dir: "But, you said you'd been here for a week."
Lie: "Oh, you must have misunderstood me. I said I've been here for nearly a week. If you count the hours I've worked, and assume a two hour day is average for my type of work, it would be a week."
Dir: "Hmmmm."
Stay tuned for possible Scenarios Two and Three.
"THUS, IF THE QUESTIONS/POSSIBLE SITUATION(s) CONTAINED IN THIS POST could be resolved and BDGR is allowed to operate unencumbered (if it is not operating unencumbered); most other questions may become mute."
That is, without a doubt, the most comical statement I've ever read. You have quite a sense of humor! Thanks for the laugh.
Nice! Thank You! Hopefully Lou will take heed to your suggested questions and hold Lanza to answering them - on behalf of shareholders - of course. Since many of the questions, IF answered truthfully, might reveal some things Lanza doesn't want revealed, Lou may be hard pressed to obtain any substantiation.
I think your suggestion of following up with vendors, suppliers, etc, may have some significant revelations. (I wouldn't mind calling a few of them myself)
Best of Luck to Lou! (Care to borrow a tape recorder, lest you not remember all that is discussed, or just what was said - and in what context? Along with a propensity for lying, Lanza may be a fast talker and you might not be able to take written or mental notes fast enough. Just a suggestion)