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emilson, dude, think you are on the right board?
zagdad
thx, was sure I hadn't missed something but ....maybe someone of the more acqauinted on the board have had verbal conversations about this situation. Wanted to make sure is just wasn't buried in this latest PR.
zagdad
Another try - what happened to the merger being worked on with the other compatible but smaller company announced earlier this year. We await news still, right?
zagdad
well the iceman cometh...again...well I at least avoid you via Iggy on RB...might have to figure out that step even here in civilization. You know so little, bash so much, all with stocks you have no monetary interest in...really need a life...and if anyone looks at the few stocks you have suggested you have tried they'd run for the hills. How are the Netflix dealie, RSHN...etc.- maybe you were short and made a bundle...LOL
Personaly I've made money here already and believe that the big bucks are just ahead - my point to EW is that the fundamentals should be enough to drive this one. Momo's are okay but not why I'm here.
Don't bother responding as I know your reputation and see no real value in discussions with you.
zagdad
Longs, is there any recent word on the merger discussions with Sagoma Plasics that was discussed inthe 3/15 PR? I assume because of the the descriptions offer in the front that this recent buy is not related or have I lost it ....? Revenue looks decent and compatible. I assume someone has talked to management on this if it is still pending?
Thanks,
zagdad
EW, hey most longs haven't been waiting for what seems like forever for a "momo" so I hope that was just a indication of your exhubrance....I'm expcting that pretty dang soon we will get significant real news that will change the companies course forever.
zagdad
Jag, which new wells?
zagdad
THG, where are you?...I think you told me if I lived for many many more years I might get back to my .05 but I know you never told me about the $17.50 I need now to get even....Holie Chit Man!!.....can't wait to get caps weekly note to tell us there's gonna be no RS and BUY, BUY, BUY....now, now, now..excuse me "next week...."
Good thing most of us were working on good info from a stand up groups of execs! I personally liked it better when I at least knew we had a guy, his burro, with a goldpan wandering around Boliva as an asset and our biggest worry was if he would report in quarterly.
zagdad
OT - zagdad, and maybe back to typing better huh?...LOL ...excuse me but it will happen again.
zagdad
J, having talked to the company after the results were known I will second the comments by Tophat. Maybe in your experience it would warrant a dry hole tag BUT for me the exciting (as exciting as a miss can be I guess..) things I heard were that it COULD be considered for production in some small return but that if that cost and step is taken you take the redrill/horizontal/coil tubing.whatever alternative off the table so they took the alternative of a plug that can be revisited in the future. Like the production potential might increase ten fold over the oil found so probably worth doing right. Time will tell.
It's thought to be a long and narrow potential field and they are sold enough on their findings and what occurred to be seriously considering a further exploration (maybe even committed to...) - the prime I'm sure makes that decision, raises the new money, sets the dates, etc. and I'm sure that EDEX is sold enough to take a piece of the action if possible. In a weird sort of way I think it gave all closely involved even further confirmation that PIP is working for them - although we all would prefer a different result NOW!! Now if next time we can drill a staighter hole or pick a wider spot in the field....woo-hoo! I'm sure others have thought and maybe commented already on this but realize with a little more luck that the 3% deviation in the drilling would have likely meant nothing had it been either up or down field and not a left or right side miss! Dammmm....
Finally as has been presented before, EDEX was likely the only public company who was in the JV group - now if I was one of the private working partners in that JV and not as restain as Tom has to be in delivering public info for a public company I might have been a buyer of our stock in expectation of a hit and ran for the hills when I knew what the decison was going to be...that's real life and there really wasn't that much volume but no support as we all waited on the news and so a bigger drop than we expected befoer the news. We're working our way back to pps respectability and the updside IMHO is super. one hit in just one of the major opportunites they are working and its homerun time! And our odds appear much better than that.
Good board so far with lots of good discovery work, experience in the industry, and great communication with the company mamangement. Lowman and others are doing a great job of getting the questions resolved rather quickly. Back to lurking.
zagdad
Response to a few points written today.
1) The Victory involvement is as one small member of the JV group that is financing the drilling of the first NM well for $750K. I don't know what options the JVs on #1 have in the future but I'm sure there will be additional opportunites to invest in new wells. The announcement Victory made about the drilling by late August was just an attempt to keep their shareholders up todate in general with how and what they are doing. Not a specific - they just watch.
2) Today news IMO is just Tom putting everyone on the same page about what is going to be happening down the road for the company. In this Hardeman Co. venture EDEX is also a minority player and so I'm sure they don't control the start dates, etc. but it is nice, again, to know what the companies plans are.
3) NM is moving ahead aggressively as getting things signed off as necessary, rig in place, etc. as possible when I last asked. I'm sure when they have a date we will hear of it. The PIP team has this as their next high priority and it is a partial reason why they put off the next step in the recent TX activity - which initially has been indicated that they would take another shot at that field as they are very confident of its good. Do they try a second place or redo the recent activity is a decision I'm sure the principals will evaluate and proceed on. Good deal for us.
PIP has been used in way over 100 new field/well opportunites with a high rate of success that appears to grow with every experience as they improve, cross analyze, and learn so we continue to improved our odds greatly IMO.
If you talk to the company about the things they are working on you will find the list is long and we have a lot of options for success IMHO.
Something else I was going to comment on but if I go back I'll likey mess up this one...LOL...hmmm...so guess I'd better try taking notes next time.
zagdad
Ovidius, most of your post is not very well informed or negative spin - try to look back at some posts for a reality check. The well in TX was not a real dry hole and PIP is working. Vacations do that.
zagdad
nwsun, wish I knew that answer but ....I do have some BKMP and it is one of the few companies that seems to have bought back a lot of shares and I didn't understand why they did it either unless they had the cash and no pressing needs going forward. Might be easier for a firm like them that doesn't have heavy expenses of a large staff, development work, etc. They have ideas, relationships to build I would guess so maybe expenses of the key individuals are controllable and cash in is avaialble for a buy back.. I do like the idea in the long term of having a lower OS so then a better EPS and better funadamentals = higher pps....LOL...don't know how many pennyland folks are looking that far a head but still good.
zagdad
thedragonfly, to expect or even want a buy back for start-ups/small/emerging companies doesn't make much practical sense IMO. While it does show a belief in their company, they don't have $$ to do that and still succeed, there is already a struggle to get the $$ to operate and improve/survive in many cases. Cost of money for these firms is high priced in cost/dilution/predatory risk so why blow it buying back shares you already sold to raise funds for essentials and survivability. Nice idea but normally not a good or possible practice. We shouldn't be disappointed if there is no buy back IMO.
zagdad
DD, a better number to know would be what is either the past net profit percentage or the industry percentage to apply to these rev numbers - just so we don't think that falls to the bottom line as EPS.
anybody know?
zagdad
ya gotta like at three shifts already ...and the new contract....and more to come...this looks like a great ground floor opportunity here..
zagdad
and the story...
Press Release Source: Michelex Corporation
Michelex Corp. Takes Delivery of Equipment/Restarts Production
Wednesday July 26, 11:01 am ET
MASSENA, N.Y., July 26, 2006 (PRIMEZONE) -- Michelex Corp. (Other OTC:MLXO.PK - News) ``Michelex'' (or the ``Company''), a plastic manufacturing company and an audio record production group announced that it was successful in purchasing the manufacturing line that produces the 5.2mm ultra slim CD jewel Box. It took delivery of this line at its Massena, New York facility last month. The installation process is ongoing and it is anticipated that production will commence next month. As previously stated, this production line is expected to increase revenues by up to $300,000.00 per month.
Michelex also announced that it restarted production in its New York facility on July 10, 2006 and has been recalling former employees. The response from customers has been positive and as a result, a third shift was implemented on 7/24/06 to meet customer delivery expectations.
The Company intends to put out a press release in the near future to update its shareholders on the status of their financials and progress it is making to get it re-listed on the OTCBB.
About Michelex
Michelex Plastics -- Founded in 1972, is a manufacturer/importer and distributor of C-Zero's, Cshells, Norelco Boxes, Jewel Boxes, DVD Boxes and other related specialty plastic products. The company has manufacturing facilities and distribution points in New York and Salt Lake City. The company employs people who are committed to the customers and to the operations of the business. Michelex offers a full range of products through its divisions to make it a one-stop shop for its customers.
Michele Audio -- Audio duplication services and an exclusive rights holder of a large catalog of music and spoken word recordings.
Michelex Media Products -- Producer, supplier and distributor of paper multimedia packaging products, also offering complete fulfillment services to its customers.
Safe Harbor:
This release may contain forward-looking statements within the meaning of the Private Securities Litigation reform Act of 1995. The risks and uncertainties that may affect the operations, performance development and results of the Company's business include but are not limited to fluctuations in financial results, availability and customer acceptance of our products and services, the impact of competitive products, services and pricing, general market trends and conditions, and other risks detailed in the Company's SEC reports.
Contact:
Michelex Corp.
Thomas Gramuglia
(315) 769-6616
--------------------------------------------------------------------------------
Source: Michelex Corporation
and as predicted - the news is out! link http://biz.yahoo.com/pz/060726/102766.html
zagdad
speedy and bb, thx, I hear they have a backlog of news so it will be great to get the good news flowing....I t'ain't going no wheres for a bit!
zagdad
speedy, huh, whatcha mean? Not sure I understand - can I expect news finally tomorrow? Good stuff? Market didn't seem to like us most of the day today...I hate to have to launch from a lower platform - seems such a waste of inital interest and buying.
zagdad
Here's the link that opened today for short reporting - minor number of 4,013 on EDEX if I remember right.
http://www.otcbb.com/asp/OTCE_Short_Interest.asp
zagdad
Jag, I agree in retrospect they might have been able to word it differently but I doubt if final decisions and direction were made 24 hours after results - maybe not even yet. Maybe even more dictating is the reality that in this deal EDEX's management doesn't make those decisions as a 5% player. On the other hand Tom feels confident that that well is likely to be completed in the future - they did prove IMO that they found oil using PIP and that I like.
Personally I would likely go after site #2 and if it works then go back and do the horizontal - based on no real info so value of my idea is near zero!
Feel very comfortable that with some many options in play we will hit one or more and just one will make this a big winner.
zagdad
Yorick, not sure what your mission is but do you understand that it appears they didn't call it wrong, they had a problem with a 3 degrees unexpected deviation on drilling into a very narrow portion of a long thin field. Bad luck, bad decision - I don't know and EDEX is only a small player in this one - in one sense as if they had gone 3 degrees up or down stream and not left or right we would be celebrating now. So oil = yes but not in the quantities on the edge of the field as favored and to go production here would eliminate coming back, going horizontal at a later date, making it a better well... so they just plugged for now. Already are committed to more activity in that field so the major players obviously believe in what they expected and understand the results. I hope they are ultimately on track as there is alot of potential involved.
In any case they don't appear to have made a bad read on the field just missed on the drill by a bit - make that possibly a temporary miss.
zagdad
"Besides, you can't slowdown what hasn't been started yet" - I like that concept except I do occasionaly fear a roll back when we are parked on an incline! Come-on, remember the best defense is a great offense so let's get this train on the road! Been a while since the CEO being out of town was a reason to not get news out so not sure I bought that. Not looking for a spike and out but moving forward would be good.
zagdad
J-Rhino, not that it matters much or is any ones business but I am still long a few thousand shares that got over looked from the over 7 figures I held so guess I can continue to check that LONG box and it has never retreated to my average pps. I am disappointed with leaving a lot on the table from the best days and that could have been avoided by Eliron getting his head out of where the sun don't shine.
And I doubt if I ever said I made a killing but then that dufus, ice-whatever, is always making things up and making mis-statements so guess that's what free speech must be about.
and, oh yeah, I am ahead on ETLC and expect to do well...how about you guys? Running out of time to get either in or add. I'm sure you will remind us how you told us so when the stock retreats from .20 to .18 in a single day, right?
OT - since we know the kind of investments Ice -whatever is into (RSHN and the Netflix thingie and ??) let me offer acouple of other ideas - EDEX and MLXO...nice and early but the clocks a ticking...
zagdad
I agree on Hardeman - 5% interest, paid for, with an anticipated total production of up to 200 bbls/day based on other experiences in the area. If so, ROI in a matter of months. Follow-on opportunities.
zagdad
OT Best2listen and Spark re; ACCO...ouch! still have a lot of high priced shares of that one too....some days I think of what a movie I might make out of GFCI and Dial but it wouldn't hold a candle to the script of ACCO and Old man David Rabi...lol, I loved talking to the guy on the phone but had no idea about the "black Widow" in the back ground or much of the truth obviously! I thought we might be able to recap some of our bucks with a movie...
GLTA, zagdad
icey, "but hey..jmho of course" - right! and that is consistently useless ..how are your investments going these days? Can't find the Iggy button on IHub.....
zagdad
legale, I wondered what was holding them up! Please tell them you are back so we can get on with this sliding "news next week' thingie....I'm locked and loaded so let the fun begin!
zagdad
Moe, well life isn't always equal and fair and I think we have a set of circumstance here - like mentioned the volume wasn't THAT high but there weren't any buyers in the wings either so ...free fall.... or, buying opportunity maybe for some.
zagdad
low, okay, I like your alternative too...how do I meet his sister?
zagdad
Moe Money, well since you were just born on this board today I wonder what your real mission is but I will take one shot at your concern and accusation.
In this situation EDEX was a very minor player with a 5% stake and I'm willing to bet that it is the only Public Company involved so we have many other players in it on a private basis. Now I can imagine that those folks also saw owning some EDEX stock along the way might have improved their potential when the well came in. Unfortunately by chance the well stumbled and they likely knew of the results as they watched their $$ at work and do have the right to manage their portfolios and therefore possibly sold today.
It appears to me that Tom/EDEX played everything very close to the vest, he says he wasn't a seller either...so not much of a case to make IMHO.
I don't like retreating in value even for a little time but August is close I had wished to be able to own more for the future so I might see a chance in the coming days.
zagdad
Jag and low, that's correct about the rig as they did not use a coil tubing approach. They also didn't chose to complete it for a small return of, let's say, 10 BBLS a day which will allow them to come back into it another day and go horizontal if down the road other efforts shw that they should complete it accessing the sweet spot, which they would hope to be a 300+/day oportunity. They plugged it in such a fashion to allow re-entry. If you chose to go to production you would eliminate the later attempt.
Since they are only 5% I doubt if they control the if and when for another go at the field but hopefully get a chance to play again as they still believe in the opportunity.
zagdad
Koze, the $66K was for 5% in this situation. They Mesa Project is already funded via a JV providing the $750K for a % of the action.
zagdad
OUCH! Well double pain as I watch Landis hit the wall and bonk today in the Alps...sorry, got to get back to my beads...
zagdad
Rhino....lost big on SHRN...LOL...not even close, won big, but did leave alot on the table like many others. Yeah I think applying for patents on some of the processes works well with illegal activity but not to worry I won't waste any more time on someone making a bold statement but not pointng anyone to his evidence. Popular technique of the basher.
zagdad
Sox, what are you on the board for and why are we to waste time reading your posts? An answer to the question, if you have one, would seem very appropriate. And.....?
zagdad
lowman and ced, just to make sure I don't leave the wrong impression on the VTYE involvement please understand that they are only one of the parties in the JV which provided the $750K required in this situation - I know nothing of the others. I hope they are all sorry and wish, along with us, that they had more of the pie when we cross that bridge in late summer...meanwhile, come-on TX! A few successes will likely create an easier environment to raise necessary funds in the future when needed - I like that.
zagdad
Re: VTYE, Mesa JV, and start date...just a few comments on recent posts/questions.
VTYE IMO is not a P&D but instead a company that has changed courses a few times over the years but now has a commited direction in O&G and management with such experience. This commitment of cash to the JV set up to fund the initial drilling and hoped for completion of the Mesa, NM prospect was just that - an investment in an opportunity, just like we are doing here but in a different fashion. They have other projects under way and more to be heard about soon I've heard.
The JV on the intial Mesa well raised the $750K required for the discovery phase. I don't know the participants in the JV out side of VTYE but VTYE is public and I think its good that they share what they are doing with their shareholders... folks like me...usually we complain about not knowing what's going on. Obviously for the JV money's EDEX gave up some percentages but with something as potentially big as this, in the end everyone will be happy I'll bet. I like the idea that cash in the bank at EDEX is earmarked for leases, JV's, etc. so that fast growth will be possible and spreads the risk.
Hey the well we are waiting on EDEX only has a 5% interest after also buying in to the effort and with the potential possible it is a great investment. Investments come in all sizes and shapes it seems in this industry. And money is gather in multiple ways depending on the situation.
The general drill date of within 60 days is just a way for VTYE to put a general guideline on the situation for its investors (remember its just an investor and not trying to spread BS - I like their inclusion of the PIP tool) and I believe that if you talked to Tom today you would get the probablility that an early August start date is possible/probable depending on a few factors in the project plan. About as good as it can get with out a 100% guarantee which I imagine in near impossible in this industry when non-controlable factors exist.
Hope that helps. zagdad
bbbb, that's good, a new twist. I like your wheels too. If this performs like I hope I could upgrade my dreams of a Smart Car to one of those. Go MLXO!
zagdad