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Bkmp Vol creeping up
usxp Vol 458 Mill
BKMP Vol 46 Mil 0004
Forgot courtesy.. Good Morning
RENG.OB Oil & Gas S America .. News..
Radial Energy Announces Agreement to Acquire Colombian Producer Rancho Hermoso S.A.
Thursday February 8, 4:30 pm ET
HOUSTON, TX--(MARKET WIRE)--Feb 8, 2007 -- Radial Energy Inc. (OTC BB:RENG.OB - News) is pleased to announce that the Board of Directors of Rancho Hermoso S.A. has approved an offer from the Company to acquire 100% of the shares of Rancho Hermoso S.A. subject to approval by the pertinent Colombian authorities as may be legally required. Senior management of both companies will sign a formal Memorandum of Understanding next week in Houston, Texas.
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Rancho Hermoso S.A. is a privately held Colombian oil production company and operator of two oil fields located in the Casanare department of Colombia. The Rancho Hermoso and Entrerrios fields are geologically located in the Llanos Basin, one of the most prolific hydrocarbon producing areas of South America including the giant Cano Limon and Cusiana/Cupiagua fields.
Ecopetrol discovered the Rancho Hermoso field in 1983 with production of 37 API oil from the Mirador formation beginning in May 2000. The contract with Ecopetrol, which covers 24,167 acres, is classified as a Production Contract, which specifies a "tariff" or production payment payable to Rancho Hermoso in exchange for operating the field and paying 100% of all costs. Cumulative production through July 2006 is 7,166,792 barrels, from three Mirador wells, with July production at 2,827 BOPD.
Rancho Hermoso S.A. is currently negotiating for the rights from Ecopetrol to develop and produce oil from the Ubaque formation in the Rancho Hermoso field. The agreement, subject to the approval by Ecopetrol's Board of Directors, would allow Rancho Hermoso S.A. to test, and if successful, produce and receive revenues from 30% of the oil produced from the formation that currently shows as a potential producer in the recently drilled RH-4 well. Additionally, the field may have potential to produce from the Gacheta and Guadalupe intervals.
Nearby, the Entrerrios field began production in May 2004. Rancho Hermoso S.A. owns 60% of the rights to the Production Contract for this 14,920-acre area that provides for production sharing of the oil, with varying percentages for the Mirador and Ubaque formations that are producing from depths of between 8,950 and 9,650 feet. Cumulative production through September 2006 is 286,530 barrels from the Mirador and 351,828 barrels from the Ubaque formation. Production rates for the two producing wells in the field were 762 BOPD and 324 BWPD from the Mirador, and 1,445 BOPD and 115 BWPD from the Ubaque formation.
Radial President, G. Leigh Lyons comments, "The acquisition of Rancho Hermoso S.A. shall be a milestone event and further evidence of Radial's commitment the execution of its corporate strategy. In Colombia and Peru, we completed the first stage of our strategy with the acquisition of participation in the Huaya and Bosques blocks. With the acquisition of Rancho Hermoso S.A., we will complete the second stage of our strategy in Colombia with the acquisition of a reputable company with excellent infrastructure, personnel, production, significant cash flow and considerable upside development potential. Importantly, we will have acquired the status of 'operator' that we view as crucial to our future growth in Colombia and the region. As an operator of record we can now acquire exploration and production assets in the region at the ground-floor level without being subjected to promotes, minority interests and limited operational control."
About Radial Energy Inc. (OTC BB:RENG.OB - News)
Morning all BKMP's
go long ~ENA~
lol 45,795 unread messages..Miss anything?
Where's the press hound?
Yawn~ waking from a long nap
Been holding some of this for quite some time. Looking to add to my position tomorrow. Looking for a good run.
Glta
lol shorty feeling pressure here imo, holding 25k free shares looooonng
glty
js
Beautiful ! eom
serf/
Thanks for this serious effort you've put into this.
Your guidance is respected & appreciated.
first you seek to understand ..
then be understood.
greater achievements will follow I'm sure.
lets earn some serious cash!
js
bigdogs// great work from the beginning. Best play of the year for us all.
glty
repost.. from jphc board
for serf
Posted by: The_Edge
In reply to: None
Date:4/25/2006 10:50:15 PM
Post #of 5705
Shares of jphc will be accounted for, & cancelled. New shares from the aquiring company will be issued to the current shareholders of jphc at close of transaction. Value of jphc shares stated at .005.
Form 15 filing by Jupiter gives aquiring company right to buy up to 10% of the o/s of jupiter prior to closing.
Short interest has to cover because of cancel of jphc shares at closing.
Huge short interest groups screaming for help to cover.
Paid bashers appearing everywhere to confuse the market.
They have to cover, or lose bigtime cash.
IS this the deal? this is the deal imvho
I'm holding free shares now.
not selling
yeah .. he was just bringing me up to date chevy.. I was totally clueless about DoM & the lowdown on the scams they're running. My puter needs upgrade.
cheers
thankful that I haven't ..
I remember a pm from him on the importance of the awareness campaign. now he's just the opposite..
good luck on your investment.
js
thanks Rt..hope its well beyond .40. I have a few shares left in this & intend on holding longer than usual. So we'll see how it plays out.
btw
love older U2 awesome !
cheers!
unbelievable ! lol they have 500 acres available for development on one atoll. .marshal islands .
seriously insane !
he's also responding to ex gzfx'rs
posts with that same message on other boards.. example: paiv board ..which was immediately removed.
how is ole' gzfx anyway?
glty
Yeah / I wouldn't touch it especially.. .
a) I'm away from screen.
b) it was Friday
c) Doms (what does this mean btw?)
I did peek at the board though.
tia & glty
js
funny how everyone bailed and ran off to the paim board.
back to normal
lol I said I wouldn't jump into paim & I didn't ...sure was tempting but still waiting for 56,000 percent here.
One awesome run were into!
cheers
paiv board.. take it elsewhere ..
different scenerio over @ paim
not buying paim
js
thanks..
spending a lot of time on business venture & not reading enough. I shall look around the boards .
glty
Arganath..me too holding restricted & non.
Where can one read up on those rumors you speak of?
btw congratulations !
tia
js
absolute guess..
jupiter shares were to be worth at least .005 upon conversion into restricted..this was stated by pr.
Assuming 4.623 billion converted plus 57 million current @.005 puts market cap @23,400,000
assumed current unrestricted of 57 million only in equation = .4105263
Based on potential squeeze though..this # very conservative .
my opinions only.
yes--no answers yet,.no allocation date set as of 7-17
not very helpful
Management was smart enough to have created an environment which enabled this play.
If management is looking to build this into a successful business; with strong revenue growth & potential for earnings, why would they want to allow millions upon millions of shares diluted into the float in 1 to 2 years?
(Based on the initial terms of the restricted shares)
In this case, it would be best NOT to have these shares hit the market or if so, at a much slower pace.
It would be in Paivis' best interest to change the terms of the underlying restricted securities or do a tender of some sort.
If they're not looking to build this company, you make your own guess what your restricted blocks
will be worth.
Bottom line.. restricted holders will want something in return, especially after watching this play out.
Living on the edge
hope its not glass block!
good luck !
JUPITER !! eom
Still waiting on an allocation date from depositor trust clearing corp.
Per Fidelity. Reorganization dept
has not received correspondence since July 10.... should be soon imo.
good luck
just a qualified guess. Hence..
does atd have to cover with tradeable "real" shares or buy back the shares wrongfully sold?
Cusip # must be the same.
The way I see it, they're covering with restricted shares as it is.
jmho
still holding a few paiv restricted & non restricted
js
how can ameritrade cover such a huge short position with a 50 - 60 million float . I would think paivis needs to lift the restriction on the jphc conversion shares in order to improve liquidity under these circumstances.
js
thanks ..intestinal fortitude needed today .
good luck!
added some @ .001 ..
locked some profits on paiv
bkmp long!
yes indeed..very wise post. eom
Yes that is more like a "must"
read.. thanks! & go bkmp!
js
you guys are too much ..happy 4th eom
fwiw..
my Fidelity rep indicated it would
be automatic ..ie they handle it.
may depend on brokers & type of account you have.
yeah not too concerned.. riding mostly on free shares & well aware of dilutive tactics within the structure of ALL otc companies. All of which tend to be in the printing business lol.
May end up with just another bagful of worthless pos meaningless stock , but who knows, might be able to unload them before they fizzle..
Suprizes always await us.
js