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Excellent post from rb,perfect example why patience is the utmost importance,no matter how mentally draining it might be.
mxxr's twin:
Petrosearch Energy Corp. (PTSG)
20% interest on 240 acres
16% int. on 1718 acres
21% int. on 44 acres
*This comp. is drilling on same colorado county,texas land region as matrix, called the garwood project. this region is loaded folks. right now PTSG is trading at .85 cents with 52 wk high of i think 1.76. Does that make anyone feel good. thomas
Katherine Thompson has purchased in the neighborhood of 4.5 million shares as recently as may. Is that not insider buying? Do you have another definition of insider buying that you would like to share with us?
INSIDER & RULE 144 TRANSACTIONS REPORTED - LAST TWO YEARS
Date Insider Shares Type Transaction Value*
4-May-06 THOMPSON, CATHERINE A
Chief Financial Officer 1,041,464 Direct Acquisition (Non Open Market) at $0.0112 per share. $11,664
25-Apr-06 THOMPSON, CATHERINE A
Chief Financial Officer 618,519 Direct Acquisition (Non Open Market) at $0.0135 per share. $8,350
31-Mar-06 THOMPSON, CATHERINE A
Chief Financial Officer 897,462 Direct Acquisition (Non Open Market) at $0.013 per share. $11,667
9-Feb-06 THOMPSON, CATHERINE A
Chief Financial Officer 55,000 Direct Acquisition (Non Open Market) at $0.03 per share. $1,650
6-Feb-06 THOMPSON, CATHERINE A
Chief Financial Officer 1,166,667 Direct Acquisition (Non Open Market) at $0.03 per share. $35,000
1-Jul-05 THOMPSON, CATHERINE A
Chief Financial Officer 700,000 Direct Acquisition (Non Open Market) at $0.10 per share. $70,000
26-Apr-05 FORD, LINDA K
Shareholder
Please make up your mind if you are a pumper or a basher,you have some of us confused."The Clovely well is a bust"i guess thats why all the companies involved are determined to reach td whatver it takes.
Matrixx Resource Holdings, Inc.: Drilling Commenced on the Buck Snag Field Prospect
Friday August 11, 9:32 am ET
LOS ANGELES, CALIFORNIA--(MARKET WIRE)--Aug 11, 2006 -- Matrixx Resource Holdings, Inc. (OTC BB:MXXR.OB - News), announced today that the well on the Buck Snag Prospect has Spudded.
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Matrixx has been informed by the operator that drilling of the first well began on August 9, 2006. The No 1. Schurring well progress report as of yesterday afternoon indicated drilling to 561 feet. 8 5/8 surface casing was set to 531 feet. It is anticipated to take approximately 5 days to get to logging depth and a week to reach target depth.
The well is located on the Buck Snag interest covering 280 acres of land in Colorado County, Texas. Shallow development wells will be drilled on the property and completed to produce by-passed and attic gas reserves. The first well will be drilled to a depth of approximately 4,500 feet.
While global political turmoil continues to keep oil prices near $75 per barrel and some recent analysts' reports predict that oil could reach as high as $100 a barrel in the near future, the Company is moving forward in its efforts to acquiring additional growth and investment opportunities in this natural resource sector with the intent of providing the Company and its shareholders a much-improved increase in shareholder value. The Company is focused on increasing value by means of continuing acquisitions, development projects and exploration drilling through joint venture networks.
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Press Release Source: Matrixx Resource Holdings, Inc.
Matrixx Resource Holdings, Inc.: Drilling Update on Clovelly South Prospect
Thursday August 10, 10:24 am ET
LOS ANGELES, CALIFORNIA--(MARKET WIRE)--Aug 10, 2006 -- Matrixx Resource Holdings, Inc. (OTC BB:MXXR.OB - News) announced today an update on the Clovelly South Prospect.
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The Company announced last week that it had encountered a charged sand at 14,280 feet, which is believed to be a stringer sand located approximately 50 feet above the anticipated "M" sand. This is described as a small layer of sand in the earth that typically has oil and gas properties. It is expected that the objective sand known as the "M" sand could be as near as 50 feet below this stringer sand.
While drilling, the well encountered a gas flow and pressure. It was required at that point to increase the weight of the mud in the well to contain the pressure while circulating the gas out of the hole in order to maintain positive control of the well.
Subsequently, it has been determined that to continue drilling in order to pierce the sand, casing the entire hole would be required to protect the well. Thus, it would be necessary to remove the entire bottom hole assembly and drilling shaft prior to casing the well.
While pulling the assembly out of the hole, the drill pipe engaged debris in the well bore rendering it unable to rotate. In consideration of our significant progress, it is imperative at this point we secure and protect the well. Techniques known as fishing will occur in order to recover the drill shaft and bit. Until such event occurs, we will continue to circulate mud at weights necessary to control the gas and pressure.
Once secure, recovery of the pipe will take place. This may occur by using wash pipe, which is pipe layered over the drill pipe and lowered down the well over the area which contains the debris. Should this be ineffective, it is likely sidetracking the well and continuing to our objective will take place. This could take additional time not previously anticipated. However, although disappointed by the delays, we are pleased that the well continues to show significant progress in achieving and completing our objective.
Also when Mike sent the 1st reply that he "never heard of a kenneth" it had the appearnce that you made it up.Again,sorry for any trouble this may have caused you.
Breakthebank,raging bull is very slow this morning,i have not been able to read all of the posts.There are plenty of posters on these boards who have gone from pumper to basher in a heartbeat.I assumed,wrongfully so that you had fallen into that category.I was wrong,i apologize.
Sorry for the double post,lol.
Thanks Aidan,break really turned out to be a wolf in sheeps clothing.That was really devious.
Break,how many cheap sahres were you able to pick up on your false rumour spreading you pos.
Breakthebank should face legal ramifications,any lawyers out there?
Me too spicemike,just added ay .057. My point is how the hell would this guy convey this information to a total stranger?
Secondly,Mike stated that the worst case scenario is that they would drill around it.I hate unsubstantiated rumours.
Here we go,another rumour which will probably induce panic.
THAT COMPLETELY CONTRADICTS ADIENS REPLY FROM MIKE POSTED YESTERDAY.
Thinking of buying more here.I was going to wait,but its arisk,if drilling has resumed,a pr could come at anytime,and say goodbye to the .06's.
Please shut the hell up already.
You make it sound like they are doing the drill around next,they are not maybe you should reread this paragraph.
The next procedure is to use wash pipe. Which means to unscrew the drill pipe up top and add wash pipe (pipe that is hollowed out, where the bore diameter is larger than the outside diameter of the drillpipe. Then the pipe is lowered to the depth in which the pipe is stuck in order to loosen the debris in the hole that is cause the pipe to stick.
Nice to see. This company is extremly shareholder friendly and forthright with information,not the norm in pennt stock land.
Lots of gas with a possibility of a lot of oil sure sounds good to me.With more drilling in 2 weeks!
Scratch that,thanks Aidan. Onward and Upward,this is starting to get VERY exciting.
Does anyone out there know anything about the wash pipe procedure? It seems to me at the very worst we have a well with a significant amount of gas.
Now how about an update saying the jarring was successful,and drilling has resumed.
Inc. (OTC BB:MXXR.OB - News) announced today that the operator has informed Matrixx that the drilling company has moved its rig and equipment onto the drilling site in preparation for the captioned well.
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Drilling is expected to begin on the No. 1 Schiurring well within one week. It is anticipated to take approximately one week to drill the well to the logging point. The well is located on the Buck Snag interest covering 280 acres of land in Colorado County, Texas. Shallow development wells will be drilled on the property and completed to produce by-passed and attic gas reserves. The first well will be drilled to a depth of approximately 4,500 feet.
Matrixx will continue to seek additional opportunities to add value to its property holdings through acquisition. Matrixx believes that these additional assets will provide the Company and its shareholders a much-improved increase in shareholder value. Further, the Company will be filing the required forms and exhibits with the SEC and sending notice to shareholders on a timely basis. Terms and conditions of the transaction will also be provided in the aforementioned notices.
Because of post #1264 i will sleep very well at night.In that post by the way,it states that the company has had successful results at 18,000 ft.This is a common problem which these companies are prepared for.Also mxxr is wiring the money for the casing which they obviously wouldnt do if they didnt have good reason. Nice try,what else you got??
Aidan,did you say you added at .067?.Was able to ad at .067 and .068.I think people dont realize we could get a huge pr anytime now.
Very good points.I meant that in acouple of months mxxr could very well be trading upwards of 1.00 imo.Of course if we are at .25 or so in a week or so ,anything under .10 will still look very cheap!
Bmiles hit the nail on the head when he said "people just dont get it". If they did we would be in double digits right now.
lol,Aidan.You definitely do not have a monopoly on that.I originally had 1.2 million shares of mxxr at around the same cost basis as Charlie.Only difference is i got discouraged a little sooner than him,after we hit the first update of 13,500 without any substantial news,i sold everything in the .05's Since the last pr i have been buying back,Currently have 700,000 shares at an average of around .065.Took a lot of abuse on rb for selling,udeservedly so.Anyway as i stated previously with all this company has going on i think a couple of months from now anything under .10 is going to look extremely chaep in retrospect.
Oil Prices Spike on News of Shutdown
Monday August 7, 8:16 am ET
Oil Prices Spike on News of Alaskan Field Shutdown, Mideast Violence
LONDON (AP) -- Oil prices jumped by more than $1 a barrel Monday following a production shutdown at an Alaskan oil field that accounts for about 8 percent of U.S. production and more fighting in Lebanon.
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The news of the Alaska shutdown caught traders by surprise, said Kevin Norrish of Barclays Capital, who added that the current ability to compensate for lost production was "severely limited."
"The need is for fairly swift production, short-haul crude ... which will be very difficult," he said.
BP Exploration Alaska Inc. began shutting down oil production Sunday at Prudhoe Bay due to severe corrosion on a pipeline.
Once the field is shut down, in a process expected to take days, BP said oil production would be reduced by 400,000 barrels a day. That's close to 8 percent of U.S. oil production as of May 2006, according to data from the U.S. Energy Information Administration.
BP officials said they didn't know how long the Prudhoe Bay field would be off line.
Tetsu Emori, chief commodities strategist at Mitsui Bussan Futures in Tokyo, said a 400,000-barrel per day reduction in output would have a major impact on oil prices.
"Oil prices could increase by as much as $10 per barrel given the current environment," Emori said, though he said it was too early to tell what would be the exact effect.
Light, sweet crude for September delivery on the New York Mercantile Exchange climbed $1.74 to $76.50 a barrel in electronic trading by afternoon in Europe. At London's ICE Futures exchange, Brent crude for September jumped $1.22 to $77.39 a barrel.
Victor Shum, an energy analyst with Purvin & Gertz in Singapore, noted U.S. crude inventories are at a five-year high.
"But the market is in very high anxiety, so a real disruption affects the prices, even if there is no threat of a supply shortage," Shum said.
Traders were also watching the violence between Israel and Hezbollah guerrillas in Lebanon, nearing its fifth week. While diplomatic efforts were intensifying a the United Nations, the fighting continued unabated.
In other Nymex trading, natural gas fell 25 cents to $7.00 per 1,000 cubic feet. Heating oil rose 4 cents to $2.1295 a gallon.
Oil prices had slipped below $75 a barrel on Friday as supply concerns eased after a tropical storm eased in the Caribbean.
But prices have been subject to big swings as traders monitor factors that could affect supply, such as the potential for storms in the Gulf of Mexico, record temperatures throughout the United States, violence in the Middle East and unrest in Nigeria, Africa's biggest oil producer.
Agreed,days for single digits are numbered.Will try to scoop up some more today below .07,probably wont stay that way for long.Would be very surprised if we closed below .08 today.
At this point i really think anything under .10 is a freakin steal.
I get it.The more i think about it the more i think this is alonger term hold for me than i originally thought,especially if they continue to drill at clovely which it looks like they will.Someone please tell me why this stock shouldnt be trading at 1.00 within 6 months.Not pumping,just getting really excited about our prospects.
Bmiles,love the Ben Franklin quote.Thanks for all your hard work.
How great would that be,a commercialy viable well right before they start drilling on Buck Snag,while we wait on info from other prospects that they are working on. The next few weeks could very well be a "perfect storm" scenario.
I went a little overboard last night on rb,i felt like i was being attacked so i kind of laid into a couple of people. I have sworn off getting involved in any more pissing contests.As is said last night,whats the point,its not going to matter if you bought at .02,.05.or .07,we all should do very well.This board really does have a much better atmosphere.
People will simply not believe,even with this pr until they come out and say we have hit oil.I dont get it either.
Hooray,after the profit taking,we should go right back up.
You guys are killing me! Nice to come on the board and laugh for a change.
The website being operational or an update on buck snag wouldnt hurt,aisn since you seem to get preplys back from ir,maybe you could ask.
Messageboard,you mean this one?
This what was posted om iv by Howard Haftel(not me)
In my reply to my e-mail IR@mrhi.net writes:
"We spoke with our Geologist just a few minutes ago. We are at 14,200, we did log the well, and are drilling ahead. the initial analysis was based upon the land owners data (allain) which appeared to be off. Our Geologist went to Stone Entergy (a very large NYSE oil exploration company) to compare our data and the logged data with Stones 3d seismic data. The information from Stone clearly shows sand exisists and we clearly have not hit the sand at the depth in which we thought the P sand was. We are now drilling ahead to the sand depth. Once in the sand logging will take place to determine id there is oil in the sand. We really believe the sand will consist primarilly of oil and not gas. Most of the other producers in the field are producingin the M sand and not the P sand. We should know in a few days as we are drilling at a rate of 8.5 feet per hour, not including service time and mud circulstion time.
Mike"