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Each have their own reasons for holding this security. Receiving zero information about products or services does not give hope for current and potential shareholders. Does OneFi have potential business? What was the outcome of Villa Park. I doubt many knew of the recommendation for Villa Park to terminate the agreement with OneFi. This action may take place in Villa Park's April 28th City Council Meeting. I'm certain many shareholders are asking the question, "What does OneFi have of value?"
gte_gold
The company released plenty of information just 15 days ago on Pink Sheets. Chet and Tom did a disclosure for Pink Sheets, however the public company started with $177.71 until loans from "officers" (themselves) was added. A company with no revenue or income and re-occurring monthly expenses has me wondering (worried) how the Officers plan to pay themselves.... or market a product or service without spending a single dollar on marketing.
You're right, $50,000 does not sound like much, but at today's value equals 29% of the current outstanding share count and would be devastating to share value if converted and dumped. The note WILL convert to shares and sold at some time.
gte_gold
I don't expect much from this company for quite some time in the form of executed contracts providing cash.
Some observations from the recent flurry of releases:
1. The company had $0.00 in revenue with significant expenses and spent $0.00 on marketing.
2. The companies significant cash balance is from loans.
3. The Opinion Letter from Michael Morey Esq. identifies a note valued at $50,000 that can be converted to shares "Convertible Security". This conversion has not been executed yet.
4. Only two officers exist for the company. Chet Noblett as President and Tom White as CFO. Noblett and White will receive 1,000,000 shares.
5. The Balance Sheet from July 2008 has a $3,000,000 Accounts Receivable entry. I suspect this is the same item found in footnote 1 of the Interim Financial Report Received March 19, 2009 and can not be claimed as revenue. $20,000,000 contract footnoted in the interim report with a "Native American tribe" has not realized any revenue.
It's not revenue if payment has not been received.
gte_gold
No surprises, however a sad week for all who have followed IESV over the years. Below is an excerpt from the Feb 9th 8K.
The present Board and Management have long struggled to preserve value for all Intrepid
stakeholders. In spite of our efforts, the Company has become insolvent and operations have
ceased.
The Board and Management have been unsuccessful in securing and paying for directors &
officers liability coverage past February 7, 2009. The Board and Management now recognize
that the senior secured lenders are the major stakeholders in Intrepid Technology & Resources,
Inc. and its subsidiaries. Consequently, these stakeholders should determine the future
governance and management of the Company and its assets.
As a result, Intrepid Technology & Resources, Inc. announces today that all the directors and
officers of the Company have resigned, effective 5:00 pm MST, Saturday, February 7, 2009,
with the exception of Jacob Dustin who will continue as President in order to provide continuity
and signature authority and to facilitate such future actions as may be required.
Such resignations are not a result of any disagreement between directors and officers.
Yeah, Oil price hurt us today. 3.9% drop is not bad in face of the market reaction to the news. We closed at the upper part of the channel we were in between Dec 15 and Dec 31st. Looking at the bigger picture, the price has been doing well since Dec 7th.
If GTE stays above $2.50, I have no concerns. I'm expecting we'll recover some of the losses tomorrow and begin to channel between $2.72 and $3.08.... Maybe :)
gte_gold
GTE announces Resumption of crude oil in Southern Colombia.
Gran Tierra Energy Announces Resumption of Crude Oil Transportation in Southern Colombia and Increased Production in Argentina
Monday January 12, 8:15 am ET
Exploration and Development Operations Continue in Colombia, Argentina, and Peru
CALGARY, Alberta, Jan. 12 /PRNewswire-FirstCall/ -- Gran Tierra Energy Inc. (NYSE Alternext: GTE; TSX: GTE), a company focused on oil exploration and production in South America, today announced that crude oil transportation has resumed in southern Colombia as a result of the lifting of the strike at the Orito facilities operated by Ecopetrol and gave an update on its exploration and production activities. With the resumption of crude oil transportation, Gran Tierra expects to attain its 15,000 barrels of oil per day (BOPD) net after royalty production target in the first quarter of 2009, and to continue growing production to 20,000 BOPD in the second half of 2009, while maintaining current gas production levels.
Production Update
In December 2008 Gran Tierra Energy produced approximately 2,250 BOPD net after royalty, down from a maximum of approximately 13,000 BOPD net after royalty attained in late November. In Colombia, December production averaged approximately 1,100 BOPD net after royalty and approximately 394 thousand standard cubic feet of gas per day (Mcf/day) net after royalty. In Argentina, Gran Tierra Energy production grew to an average of approximately 1,150 BOPD net after royalty in December.
Colombia Operations Update
Chaza Block
Gran Tierra Energy recently conducted two short drill stem tests (DST) in Costayaco-6, the sixth well drilled in the Costayaco field that was discovered in 2007. DST-1 was conducted in the lower Villeta T sand over a four foot interval from 8,638 feet to 8,642 feet measured depth (MD). The test recovered approximately 151 barrels of formation water in 5.8 hours. DST-2 tested 22 feet over three upper Villeta T sand intervals including 8,594 - 8,602 feet, 8,612 -- 8,616 feet, and 8,622 -- 8,632 feet MD. The abbreviated test was inconclusive and only 20 barrels of water and a small amount of gas were recovered. Gran Tierra Energy plans to conduct additional testing operations in the upper Villeta T intervals in the first quarter of 2009 to confirm the presence or absence of oil that was indicated on logs and in cuttings. The next development well, Costayaco-7, is scheduled to be drilled in February. Gran Tierra Energy has a 100% working interest in the Chaza Block and is the operator.
Magangue Block
The installation of a booster compressor was completed in December for the Guepaje-1 production well. With the booster compressor, production has increased from approximately 500 Mcf/day to its current rate of approximately 3,200 Mcf/day gross, or approximately 1,000 Mcf/day net after royalty. Gran Tierra Energy has a 37.8% working interest in the Magangue Block and is the operator.
Rio Magdalena Block
A service rig was moved to Popa-2, a gas-condensate discovery made in 2008, for an extended production test which is scheduled to begin in mid- February. Gran Tierra Energy also plans to commence a 70 square kilometer 3D seismic acquisition program over the Popa field and an adjacent prospect in the Rio Magdalena Block in the first quarter of 2009. Gran Tierra Energy has a 40% working interest in the Rio Magdalena Block and is the operator.
Guachiria Norte Block
An exploration well, Puinaves-2, is scheduled to spud in February 2009. Gran Tierra Energy has a 70% working interest and is the operator of the Guachiria Norte Block.
Guachiria Sur Block
A 115 square kilometer 3D seismic program is currently being acquired in this block to define future drilling prospects. Gran Tierra Energy has a 70% working interest and is operator of the Guachiria Sur Block.
San Pablo Block
Planning continues for an exploration well in the second quarter of 2009. Gran Tierra Energy has a 100% working interest in the San Pablo Block and is the operator.
Argentina Operations Update
Ipaguazu Block
Gran Tierra Energy completed a successful re-entry at IP.x-1, a previously suspended oil well, achieving an average flow rate of 220 BOPD through a 1.97" choke. Gran Tierra Energy plans to install a production facility at Ipaguazu and place IP.x-1 on production in the second quarter of 2009. Gran Tierra Energy has a 100% working interest in the Ipaguazu Block and is the operator.
Valle Morado Block
A re-entry was conducted at VM.x-1001, a previously suspended gas well, achieving an average flow rate of 4,940 Mcf/day along with 3,271 barrels of water per day. The data collected is currently under review to determine the feasibility for further development.
Surubi Block
A successful workover was conducted at Proa-1, the oil field discovery well drilled in 2008, to eliminate water channeling from an upper interval. After the workover Proa-1 has an average production rate of 918 BOPD gross with a 7% watercut. Gran Tierra Energy has an 85% working interest and is the operator of the Surubi Block.
Peru Operations Update
Blocks 122 and 128
Gran Tierra Energy is proceeding with permitting and planning for the acquisition of 500 kilometers of 2D seismic data, which is scheduled to begin in the fourth quarter of 2009. Gran Tierra Energy has 100% working interest in Blocks 122 and 128 and is the operator.
About Gran Tierra Energy Inc.
Gran Tierra Energy is an international oil and gas exploration and production company operating in South America, headquartered in Calgary, Canada and incorporated in the United States. The company holds interests in producing and prospective properties in Colombia, Argentina and Peru. The company has a strategy that focuses on growing a portfolio of producing properties, plus production enhancement and exploration opportunities to provide a base for future growth. Gran Tierra Energy trades on the NYSE Alternext under the symbol "GTE" and on the Toronto Stock Exchange under the symbol "GTE".
Additional information concerning Gran Tierra Energy is available at http://www.grantierra.com , on SEDAR (http://www.sedar.com) and with the Securities and Exchange Commission (http://www.sec.gov).
Forward Looking Statements
The statements in this press release regarding Gran Tierra Energy's expectations regarding first quarter and future oil production rates and gas production levels, and plans and schedules for testing, drilling and seismic acquisition, and plans to install a production facility at Ipaguazu, are "forward-looking statements" within the meaning of the U.S. federal and Canadian securities laws, including Canadian Securities Administrators' National Instrument 51-102 Continuous Disclosure Obligations and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results or outcomes to differ materially from those contemplated by the forward-looking statements. Although, Gran Tierra Energy believes that the assumptions underlying, and expectations reflected in, these forward- looking statements are reasonable, it can give no assurance that these assumptions and expectations will prove to be correct.
Factors that could cause results to differ materially from those described in the forward-looking statements include: Gran Tierra Energy's operations are located in South America, and unexpected problems can arise due to additional strikes, guerilla activity, technical difficulties, operational difficulties and weather conditions which impact operations, including the exploration, production, transportation or sale of oil and gas; heightened unrest in Colombia could imperil the safety and security of Gran Tierra Energy's assets and personnel despite the safety measures Gran Tierra Energy has put in place to address the current situation, which could also delay the testing and drilling and could also impact production; and those other risks found in the periodic reports filed by Gran Tierra Energy with the United States Securities and Exchange Commission, including in the section entitled "Risk Factors" in its Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 6, 2008, and available at the Securities and Exchange Commission's internet site http://www.sec.gov and on SEDAR at http://www.sedar.com.
All forward-looking statements in this press release are expressly qualified by information contained in each company's filings with regulatory authorities and, subject to its obligations under applicable securities laws, Gran Tierra Energy does not undertake to publicly update forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
Dana Coffield Al Palombo
Gran Tierra Energy Inc. Cameron Associates
President & Chief Executive Officer Investor Relations
(800) 916-4873 (212) 554-5488
info@grantierra.com al@cameronassoc.com
Source: Gran Tierra Energy Inc.
Staying tuned? Yes! Watching this stock and watching the grass grow are similar actions.
Interesting anagram for "Staying tuned" ...."A dungs entity". I find this a fitting description for RDWG.
gte_gold
GTE 2nd day channel breakout. Stock seeing gradual but steady increase, but needs higher than average volume.
gte_gold
Trueheart, Agree! more attention may be coming. Will be watching for increased volume.
gte_gold
Another nice trading session for GTE.
gte_gold
Someone wasn't paying attention to the PR date describing a 350 million dollar cement contract, hit the trigger button hoping to get in at this low price before everyone else :)
gte_gold
Nice 130K trade after the bell today. Slow and steady rise since October is still holding up.
gte_gold
The last 7 days in a row without trading and only 57% trading days in December had any volume. Not a good way to end the year.
Should old securities be forgot...and never brought to mind?
Happy New Years!
gte_gold
RamRock, At one point in time Roadwings was very good at communication, LOL.
Between July 15th and Aug 12th of this year, Roadwings published 12 Market Wire PRs. That's an average of more than 1 PR every 2 business days during that period. The massive PR campaign lead to the infamous 900+ Million share dumping on Aug 7th. Since then, it has been silent. Two words come to mind; PUMP & DUMP.
...they've never been great about communication.
Yes we know... you are suggesting we "stay tuned" to more of the same zero volume days ahead without a bid or sufficient volume for shareholders to exit at .0001 and more of your baseless posts. With this history of non-liquidity, nobody in their right mind would buy into this security.
gte_gold
Correction: "...year end filing" should have been written as "...1st Quarter filing".
Appears the December 22nd deadline came without audited year end filing.
gte_gold
Appears the December 22nd deadline came without audited year end filing. Welcome to Pink sheets.
Yes Very quiet these past few days. over 18% of the trading days this month had ZERO volume for RDWG.
RDWG saying nothing publicly will rarely get themselves in trouble. Companies in pink land often use the "trusted few" to communicate news of up-coming events that often never materialize.
LOL, We have a new "Long" joining the ranks of investors.
Wow, The board is honored by another poster claiming "insider information". My post from early October has been fulfilled.
Very good description Titan. One more good example telling the quality RDWG, are pumpers claiming to have special communication with the CEO, a brotherhood of shareholders trusted with "Facts" that will take a stock "TO THE MOON" .... but never having any proof or links to back their claims.
All that is missing is the CEO of RoadWings posting on IHUB. I have seen CEOs do this before... It's never a good sign LOL
#msg-32751546
gte_gold
More "snake oil" not Algae oil! LOL, I can't believe he would think we forgot his behavior so quickly during his "Uranium" pump and dump. This security is pure poison IMO. Be afraid, be very, very afraid!
Well said Recognizer!
RamRock, I will be very surprised.
"Don't be surprised when positive news hits soon"
Could be more accurately stated that nobody is surprised about no news being published by Road Wings.
gte_gold
Board available for moderator.
RamRock: more of what on the way? You're not referring to the $2.10 worth trades at 0.0002 are you? or were you referring to the $470 total dollars traded today? either way, RDWG will not move with such small volume.
Very good description Titan. One more good example telling the quality RDWG, are pumpers claiming to have special communication with the CEO, a brotherhood of shareholders trusted with "Facts" that will take a stock "TO THE MOON" .... but never having any proof or links to back their claims.
All that is missing is the CEO of RoadWings posting on IHUB. I have seen CEOs do this before... It's never a good sign LOL
I could understand a misquote by InvestSource. This happens all the time. What is a "biggie", is knowing how much interest RoadWings has in OneFi. I know I've said this before, but without significant interest in OneFi, RoadWings has nothing! This also means shareholders have nothing as the current SP supports.
gte_gold
I reviewed the video again of the Villa Park city council meeting on April 22nd and determined that the 60 day limit is the time OneFi must remove the equipment if the city ever chooses to sever the agreement.
gte_gold
When I have time, I will review the council meeting minutes since that April meeting to confirm what you have posted. Maybe you could find that in the minutes to provide that info to the board? Obviously the city manager does not have the authority to change what was voted on without council approval.
gte_gold
60 days from when the equipment installation date of Aug 29, not April 22nd date of the meeting you refer to. That would make October 28th the day the equipment must be removed as I stated earlier.
I have watched the video and know the contents. Others can watch instead of reading our differences to make their own conclusion.
gte_gold
You completely misstated the council member.
..."One of the council members just simply asked for time-line so that in case it didn't work out, the city wasn't stuck with it..."
The council member wanted the equipment removed in 60 days, period. It had nothing to do if the equipment "didn't work out" or did work out, the equipment must be removed in 60 days. The city manager made the 60 day removal part of the license agreement with OneFi. OneFi was represented at the meeting and agreed to the 60 day limit.
gte_gold
Rock, Why do you say that this is obviously RoadWings' equipment?
With all this equipment, wouldn't you think RoadWings would have at least a simple website?
"...in the picture there is obviously Road Wing's server rack -- this would contain their server(s), switches, and likely router, etc"
Funny, I don't remember hearing about RoadWings website. Could you please provide a link to RoadWings website if you know it exists?
Thanks,
gte_gold
This installation at Villa Park will be removed by October 28th as part of the license agreement with the city. No additional OneFi action is on the calender with Villa Park.
from Villa Park April 22nd 2008 city council minutes.
"...Councilmember Pauly commented she would like to see a deadline for the timely removal of the equipment. City Manager Domer stated they will put in a 60 day deadline as well as site documentation."
Would be good to see the results of the beta testing at this site shortly after the end of the test October 28th. However without knowing how much interest RoadWings has in OneFi, It may not matter how successful OneFi is. OneFi does appear to be a legitimate company. Wish I had same confidence with RoadWings.
gte_gold
Yes, but only if you replace the words friends and fans with tar and feathers.
"Does Tom still have friends and fans here?"
RamRock, Appreciate your honest answers and clarifications.
Thanks,
gte_gold
Interesting how the fluff PR on Wednesday was immediately greeted by a massive 800+ million dump of shares. I find it difficult to believe it was a coincidence that the second largest dumping of shares in the life of the company was preceded with a fluff PR. No news for over a month, then a PR followed within hours by massive dumping. What potential long or potential investor is likely to invest more funds in this security after this behavior?
gte_gold
RamRock, What specifically was communicated to your friend that actually happened?
"...but what was communicated to my friend from the company did actually happen...
Did the communication between the company and your friend match the information in the Wednesday PR?