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pennys, not sure we have watched the same video of the recent meeting. While I wasn't there, others I knew were and they, plus others who watched the meeting later, were impressed. I've had the chance to meet with Tom, the president, on occasion, talk to him on the phone, see many of the maps referred to, etc. and I am impressed and therefore a long waiting to make some serious money.
For those newbies wandering by at this time you are likely lucky if you like the potential and want to buy in as only the delay of the rig' arrival has created this pre-discovery buying opportunity IMHO.
zagdad
pennys, EDEX does not own it - they just have a special relationship with the owner and likely get first right of refusal on use and PIP discovered deals going forward if they keep the good relationship. PIP is in private hands and has been developing since the 80's at least.
zagdad
ditch, well nearly everyone of my posts on this board is deleted by the moderator and without questions ever being answered. Never been deleted on any venue on any board any where before but guess management is not going to step in an make it a democratic forum so not much can be done - I do find value in most IHub boards and mostly lurked during the early days when I was a Founder - love that beard.
I doubt that your offer will be accepted unless the assistants can be hand picked. Let's see.
zagdad
starboy, thanks, will also mark that site and keep it in mind. We certainly do suffer at the moment from visability and that doesn't hurt for us early "prospectors" but that said we also want to spread the word amongst other investors as it is gonna be a great opportunity for many and we all want to see a pps that reflects what we think we own! As a long not looking to play it daily I really don't care if the momo's get hold of it as they seem to leave as fast as they arrive and leave most confused as to what might be going on! LOL
I have faith that the company will soon also get the word out now that there is substance to report.
I'm also looking forward to the completion of this new drill although even the re-works make this an exceptional overall success. I understand that the new well's testing of both old and new zones could even open up new potential when doing the re-works as they, in some if not all cases, might want to drill deeper based on new findings. Time will tell but a bonus idea IMHO.
zagdad
Excellent news...again..and here's link for anyone wanting to share... http://biz.yahoo.com/bw/061016/20061016005964.html?.v=1
We ARE in early on TRSI IMO and one can't argue with actual exploration and re-work going on and on time, production, revenue, etc. when so many of the emerging O&Gers are still talking about leases they are pursuing or have secured.
I'm likin' it!!
I think the web of knowledge is soon to widen. Stock up now if you have interest as at these prices timing is limited, again IMO.
zagdad
OT Badge, while I haven't ever met you personally I would guess that while you did get Parience to go out at least once in 1967 she remainded a virgin and entered a nunnery following graduation? Close? Unbridled...do you have any comments?
zagdad
guys, someone needs to give Tom some help on his PRing...so much could be said better IMO about even the topics that get touched on...like maybe some customers, contracts, recent wins, some idea of reveneue current and projected....something but bland oatmeal...beats reading filings for most investors and newbies....
Maybe he's saving it for news on the filing having been sent where he can tell us in flowery words why we belong on a board and we can be excited about our investment - he can skip any further elaboration about how there is no guarantee that we get accepted, etc. - reminds me of any IPO type doc you read where there are usually nearly more pages required about the possibilities of failure/loss of money than any thing else. But when not required like these PRs, why bother..the rest of the free world doesn't....grrr..
My A's just finished embarrassing themselves so I think I need to go into a self-healing phase - for Tiger boarders - GL, win it all.
zagdad
jrp, money isn't the problem here, the JVs put up the front end $750K for their portion of the initial well. The one JV that is know publicly is VYTE that is occasionally mentioned here.
I too am interested in the problem but a major mechanical suggested a few posts ago seems the most likely.
Dammm ...now I need to go back and read about Patience and Grasshoppers!
zagdad
hurley cruppers, welcome, don't know if you are in the boat with us here yet but its gonna be a good ride...like our MLXO is gonna be also.
zagdad
Mr Jon C and others, appreciate the comments on the point I brought up and like the general attitude but have one comment and one question. Those Preferred are not in the companies treasury are they - I was assuming that they were held by individuals?? That's a big difference so what's the answer please?
Second, I agree something official will go along ways because not many are going to do much more than see the info while doing DD and wander off. Not many are going to come to this board and read back to this week's discussion or bother to ask IMHO. Besides while it would be great to have discovered a real gem in the world of pinkies, the odds seem to be against it so most of us have come to believe in the worst set of possibilities unfortunately.
TIA, zagdad
lowman, yep on the oil potential and 900M bbls is what was tossed out by management. As I've likely said before the fact that they do plan to go down another 1000' for the oil potential it gives us a 2 for 2 or a 2 for 1 chance at a hit and that is big and inceases the odds for success for me. If you doodle with the numbers I think you find that the gross revenue from 900M bbls oil is actually a bit greater than the targeted 1T cf of gas...got to like those numbers.
Let's have a great week!
zagdad
I'm in - will do on Monday - banking holiday but not market - look for me at the A's/Minn game today - GOOOOOO A's!! I was thinking of streaking the outfield with a "Go TRSI" sign but at my age it might not work as well as I'd like!
zagdad
iblong2/longs, interesting and probable thoughts. In a simple way that's good and not-as-good-news for we longs holding TRSI. My cost of driving may be going to go back up very soon BUT our little company is one of many O&Gasers who is NOT just buying leases, creating plans to drill, projecting the what-ifs of oil futures, etc. - its is producing oil NOW and that output is going to increase significantly even this month/quarter, not to mention continuing the increased production over the next 18+months. So as my gas cost goes up, the company's sells bbls for more $$ and we, hopefully get some return in an increasing pps!! I'm betting it will be worth more than the increase pump $$ I have to pay. Come-on - its the capitalistic way, right? I'm encouraged.
More seriously, now if and when others can only learn about us I'm sure my plan will prove out! I predict that by Christmas we will be doing over 150+, maybe as much as 200 bbls/day based on the projections/tests/history todate - do the math - that could be over $2M annual gross income for TRSI's share for just the four wells in Phase 1. I used conservative numbers IMO. This overall contract is roughly worth 6+X that number in types of activity (total of approx 25 wells) and expectations IMO and therefore we could now be talking $12M annual gross income.
Anybody think TRSI might be worth more than a $1.7M cap rate with this contract in place, being executed agressively, and $12M revenue potential? And anybody think there are not other irons in the fire that would add even more value?
At some point the fundamentals alone will be a driving force - low risk and near guaranteed results in a hot market - I'm glad I'm in early. Glad to see that others also see the possibilities. Thanks lowman for the excellent site to share on.
zagdad
puppman, first let me say I have no intent to be negative - just a discussion - what you suggest might be possible...if not probable, but two things come to mind...first, the TA at this time is gagged from giving any info (but she was nice enough to get me a call, etc.) so that won't work at the moment, and second, there is plenty of room beneath the current AS of 450M to make it suddenly a dreadful OS count IMO with no notice - how would you like to wake up to an OS of an even 450M shares instead of 46.6M of common with lots of Pref in the wings still....not me, thanks...maybe they will fix it...hope so...especially if it is an accident/inherited/or what ever..
zagdad
puppman, you're right about the AS but that is way too easy to change when you have control and its a pinkie so nothing wrong to show your intent by just changing the numbers forever - and you will see where the conversion has been used in the past - huge change in an instant. You don't think others who just read/do their DD will usually just keep gong if they think through the what-ifs? LOL...I know one who has...for now at least.
I was comparing it to TRSI, which is somewhat comparable, until I got to the open items (many of which are PRs with open endedness and confrimed by the president), OS, progress, and potenial...but we all have out choices so GL ..will continue to lurk.
zagdad
Creede, thanks for the post/answer because as I looked at this stock, went through the DD effort, talked to Jon I realized that as a shareholder I would be exposed to a 9 BILLIOB common share dilution if the Preferred share holder (s) were to exercise - which they did on a very minor scale once along the way....sorry but a potential jump from the current 46.6 M OS to 9,046,600,000 does change my view of my potetnial investment. Not being a basher I just had to ask the question to make sure I was still understanding my DD.
I would think it should be added to the IBlock as it is dammm important IMHO.
I would suggest that someone who is a friend of the president/principle get his to revoke or alter dramatically the conversion rate. Don't ya think...?
GLTA, zagdad
Curious, have any of you figured out the Preferrred and the potential conversion numbers? Maybe my math is faulty but it looks scary - I'm sure some of the longs or the boss can address it?
zagdad
Badge - good diggin', Thanks, zagdad
OT - well you are right on about where we can and will go with TRSI - it has just begun IMO - but loooved the B-W number you linked and guess the download police better be awake this afternoon 'cause I've got to download somemore to listen to!
Thanks, zagdad
THG, wow, does that mean that it might take until 2008 for me to get even at $17.05? You promised better.......I think....tell me I just don't understand yet! LOL Let's see if I average down from here....hmm....Anyone want to adopt me, a walking tax shelter, for this tax year?
zagdad
cautiously, interesting write-up/theory. In any case after Mesa hits it big and we get the transportion of our prize together and production on a major scale setup, the market will have bounced off the bottom and be headed for new highs based on demand and limited world availability - it is amazing how day to day action in some set of near term futures can cause major movement in the current marketplace with companies and their products that are still in the ground.
My idea of the day - Can anyone get an up todate/daily satelite picture of the Mesa drill area so we can check when Tom rolls in with a mobile home in tow....and the rig close behind of course! Now that I think of it, why not a web cam on site? We can set up a fund - hellll ...they are found many places these days with way less interested viewers.
zagdad
stcktrader13, thanks for the detailed explanation - seems little to doubt and I hope you don't give up on keeping others involved.
I have to agree that it doesn't appear management is spending much thought on keep shareholders informed on even a minimal level and while certain things are likely higher priority at times they should remember they would have much with out us and a an undervalued stock doesn't get them where they are trying to go either.
Those that may have decent communications with Tom should try and help him in his areas of weakness - like shareholder communications - IMO.
zagdad
Gang, well a few interesting give and takes tonight. I have a couple of comments.
First I see nothing wrong with someone posting the idea that a PR was said, by a reliable source, to be coming Monday. Hey we are all wondering what the status is of many things including proposed merger/acq., filings, etc. and rumours we hope might come true so we'll take what ever we can get, anyway management wants to keepps us in the light. I on the other hand understand there are lots of comments that ought not to show up on a board and then don't - forget the rules, its trust, etc. that plays the prodominant role often.
And Tom and gang are over due with updates - if for no other reason than to understand how to market to we investors and not have us get to a new level to build a base from, to get some momentum going, and then let we loyal longs watch everything drift away - causes many to rethink the value of long term investments IMO.
I also find the discussion of restricted versus float/non-restricted missing a few true "investor" points. If this is really an investment and we are not just in a card game or a momo/ first guy in wins - last guy in loses/ then the total shares OS are important because it determines EPS and as a company goes up the ladder of success that is one of the key ingredients, right? Now unfortunately the pennies appear to be more of a roulette wheel most of the time and little about fundamentals is real of much value to many.
MLXO appears to me to be kind of inbetween the pinkies, where they still are, and the solid, viable, earning producing company they are striving to be, and where they measure companies differently, IMHO, down the road.
Sorry a little philosophical I guess, and likely not an area that many, if any currently investment worry about, but dilution does matter IMO and even restricted shares count.
A side comment - the other day I did some DD on a O&G play that someone was looking at and when I looked at the Preferred structure, and also talked to the CEO, this company right now showed OS of @46M (not bad) and about 900K Preferred (all in hands of CEO..good so far...) Well the Preferred converts at a rate of 900,000 for 1...HOLY CHIT MAN...I had to revieve my abacus to eventuall arrive at the possible conversion to an additional 909+ BILLION shares - hey but it isn't in the float so must be good, right!! Yeah I do know he couldn't unload it all at once...
Okay, I'm ready for next week, bring it on!!
zagdad
Lowman, close numbers but I think they were actually even more conservative with the days per month used being about 25. Anyone know what the industry average is for such operations?
The wells must be union and get a six day week with Holidays off! LOL. So the numbers look like $58 X 30 bbls X 300 days/year X 57% Net Revenue interest.
zagdad
Nice beginning, can't argue with success, much easier to build on fundamentals and I think there are some plans to spread word of the company, its plans, and initial success so good days are in our future IMO. I do love sooner than later though and I see we are heading for green! Don't think there is much chance to either staying here for long or ever returning.
zagdad
speedmaster, as I think I suggested some days back usually that policy (which I think is terrible for a number of reasons) will be handled as an exception if requested by the customer/MLXO. Hope so, as brings at least one more level of confidence to newbie with pinkies.
Hope that news on Monday is of some significance!
zgadad
Maddogs, Here's the link to some of the new pics you mentioned last night...always interesting to see real life...hope they keep it up - great way to enjoy progress..and ahead of schedule..gotta like that ...a refreshing change from some investments I follow. $$ begin to flow VERY soon...hours, days....and just the first of over 20 contracted wells via re-entry, re-work, and new drills with 2M bbl reserve, a great working interest, and respected partner/operator, IRA. All in just the first few months of the re-birth of clean shell. As others hear about us I think we will be very pleased with our investment. I would expect braoder based exposure soon as Trophy has moved from merging operation to an operational, revenue producer.
http://trophyoil.com/rw1.htm
zagdad
paper doctor, well its a good thing it is late at night here on the Left Coast and my A's won the division as it will temper my comments on your posts I have just read through.
I got confused as at first, I thought maybe you were trying to lament not owning Tango along the way but then most of your "reporting" was so old that the links didn't work and I dismissed the idea. I am familiar with those links you referred to relative to Tango and even others as I did my DD pretty thoroughly when the shell became available for the O&G entity that has gotten off to a running start in just a few months. It is very clean as best I can tell and I have seen the opposite way to often but these shells are a necessity for young, emerging companies. The world of IPOs is very limited, costly, and seldom used tool as I'm sure you are aware. The personal references you make have very little to do with the company today although I'm sure they are share holders and could consult in some areas of the companies' development. Canadians? - don't think so unless they are also shareholders. RB post many years old that says little and really can't be brought up? What's the point? The key person in the field for us is Eric, COO, and is a hard worker, producing great results, and is spoke of positively by those doing business with Trophy these past few months. Others both inside and outside of the company appear to be very good at what they do..financing, relation building, deal making...When the dust finally settled I thought the opportunity was much better than many most of the shell transformations that I have seen. They have even surprised me with the fast start in just a few months...I know we all love patience but we do often have a limited supply and in this case we may be able to use it elsewhere!
I guess if one is a history buff you might care that TRSI rose from the ashes of Tango, a company in the apparel business, then took a short term look at an internet auto sales scenerio but in the end transitioned to an Energy Company - smart move given the world wide strength of that tier for the rest of our lives IMHO. Blessed with some great early advice and consulting from the likes of Chuck Laser, who introduced them to the early Montana opportunity, and others, they are unusual, IMO, as they get to begin with a very reasonable OS, have a stated philosophy of creating a solid revenue based company, and quickly put together a project of significant size that will deliver its first revenue in a matter of days it appears. How many start-ups do that? The COO, Eric, has done a terrific job already in selecting a great partner in IRA, a TX service/operator/lease holder to work the first active project with. And he keeps us up todate!!
The project is a phased re-work, re-enter, or new drill opportunity on a field of 20+ wells already defined by experts to have an over 2M bbl reserve. Not bad to go from early agreement in mid August to production $$ in 6 weeks. Hey, sometimes we have to wait that long to see the dust from the rig arriving at some opportunities. LOL When this next week passes, performance is a fact, and others noodle the numbers that I have already guesstimated about we are going to be very under priced IMO. Maybe you look at that as a momo or a hype but I personally think we have arrived early at a great short and long term play. The current cap is well under $2M. Please show me another one with such performance, promise, and such a low cap rate in this industry. A hidden jewel that will be coming out of the closet to many very soon.
I doubt if you came here to be sold on a great opportunity so I'll leave this post with those few reasons of many why I'm here along with others - and not planning on leaving any time soon...and, oh yeah, don't mistake this as a one pony show, you'll be disappointed...
zagdad
OT - Jag and lowman, at the rate of global warming that hutch is likely waterfront property sooner than later so add a diving board and your kewl...have you considered a double wide when we hit it big at Mesa?
zagdad
rxgator, re: oil and/or gas at Mesa. I see you have been told correctly that we have been told that we are looking for both. In my direct conversations I have also been told that. Heading for the gas and continuing another 1000 ft to see if the big puddle of oil is also there.
The numbers I've heard on the potential of oil rival on raw revenue numbers the projections of gas so I love the idea that we have a second alternative for success or in another way we have two chances for success for the price of a bit more than one. I suspect that management which is pretty conservative in most of its activiites doesn't want to play up such possibilities in its PRs at this point. Time will tell and that time is coming SOON!
As you see from the meeting clips they believe enough in what they are doing to be assembling additional leases forming a couple of additional major ventures in New Mexico where they feel similar opportunites are present...gotta like it!
zagdad
Investo, I have encountered that argument once before out in Portland OR but at least there they have the policy that they have to/can be told by their customer that they are to offer updates if requested. Did MLXO's TA offer that alternative or did you check by chance?
I find that that is a very bad policy decision for TA's to undertake as, especially for the pinkies who have little that is filed, etc., it is one of the few places we can get some info that we feel at least is somewhat independently known and provided. They get paid for customer questions or they need to up there rates IMO. It is even more forboding to have the companies put the gag on as many do and unfortunately for nafarious reasons as we likely suspected but want to prove or dis-prove.
Your thoughts?
Thanks, zagdad
Jag, nice site, book marked it...thanks, zagdad eom
LoanStew, why do you always take the most negative spin you can on everything related to this stock and yet remain on as the board moderator - probably so you can delete this post rather than answer with any real conviction my question. Amazing.
I have, over time, talked to every key individual involved in this company and its soon to be merger partner and every call has been positive and worthwhile but you are doing lookups of the company via 411 etc. Have you tried calling the number and at least leaving your number and a convincing reason someone should return your call? Are you or have you ever been a shareholder?
I'd say it is very nice to hear from Ray Jackson and AHM.
TIA, zagdad
TDF, you bailed as the moderator of this board?
All, things are gonna get better in small steps until the 211 is in but every step helps IMO. Products movin' along...we'll move...patience....
zagdad
OT Jag, you remind me of a trip I made just a couple of months ago when I topped off a month of wandering around Eastern Europe with a visit to, and a few beers with some fellow investor friends in, Brugge - my first time there, a great few days, and a city not to be missed!!
Hang in there longs, we are way under valued IMO and good things will continue to show themselves in the near term.
zagdad
maddogs/lowman, I agree, can't explain the price these few days but nothing has changed and it is going to have been a hellova a buying opportunity here when we look back at it in the not too distant future. Wish I had some dry powder also.
zagdad
OT - Jag, are you old enough to have learned to diagram? Don't even know if it is still taught? If so can you work on his sentence between posts - look forward to the finished product - it should be a classic!
zagdad
cyofish, see prvt msgs. zagdad
opps forgot what board I was catching up on - sorry IHub, dis-respect suggesting you were RB!
zagdad
Gig, I just tried and could. link I used if RB will allow it.. http://www.eldoradoexploration.com/
zagdad