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Cool, I am an attorney with a B.S. degree in Geology from the University of California at Riverside. As a boy I took work as a rough neck, working on a Tenneco Texaco field in Kern County, The Touloumne field, one of the last 1,000,000 barrel fields of California. Those wells were 20,000 feet deep. In the 70's we would churn those wells out every six weeks and move the rig to a new location and start over. Otherwise I'm just a shareholder. Oiljob
P.S: Now of course, if you'd be so kind as to send me your address , I'll need to send you a bill .... lol
This news is great, and the shorts will definately start coveing once there is news of a spud-in. 700 foot oil is very shallow; too shallow for conventional fracking. (The injection of water under high pressure in typically deep production zones with low permeability or pressure or production, where operators have drilled new long horizontal wells in well established lihologic zones of production; turning a 75 foot vertical zone of production into a one mile long well of fracked production.... The Bakken in No. Dakota).
The water table is the issue, fracking can cause injury to the local water table and no governmental authority will permit any operation which could even possibly allow invasion of hydrocarbon products into the local water supply. Oiljob
I wonder who our neighbors are and if we can negotiate production sharing agreements permitting horizontal drilling 360 degrees from any leasehold drill site. Is the formaiton silicate or limestone based? It could somewhat depend upon the age and maintenance of the surrounding leasehold property. Local history would be nice to know with such shallow acreage. How thick is the production zone producing oil?
Property like this made Getty a billionaire in East Bakersfield when he introduced steam injection to facilitate the recovery of thick viscous oil from shallow local wells in that vicinity. As long as you have good permeability there are various methods to induce secondary recovery of oil. The good news is we have our own rigs and personnel in Texas and we can experiment with all the possibilities quickly with such shallow oil. Finally do we just own the shallow oil or do we own the entire production profile, i.e. can we drill deeper? If so there could more oil at 1500 or 2500 feet too, untapped undiscovered oil would give the fields true new life.
Build a rig, take a picture of it and put it up on Facebook.
Otherwise the only thing bouncing is gonna be the price of this stock, bouncing like a ball down the staircase. Oiljob
It's been all about rigs from day one. Just show me a down payment. Oiljob
P.S.: Gandy needs to take his rig circus to Libya right now and either get some oil we can trade or swap some rigs in exchange for some water rights, I'm happier drilling for water actually. Water is clean, no environmental problems, farmers love you ... but we'll have to fight off the Bush's and the Order of Lazurus ... they will want the water too. Water is tomorrow's oil ... and in Libya it's basic survival.
P.S.S. : Still waiting for trips before I dollar cost average.
We are definately on the map now (we are probably the largest concession holders in Belize now with the best property, maybe even better than BNE) .. this property is directly north of our concession, and probably contains the largest anomalies detailed by our aerial survey. You could see them just past our concession boundaries.
Salivating, geophysically intriguing.
There should be little doubt that we will now strike oil in Belize.
Oiljob
Oren Miles is the oilman. He holds concession property up north I believe.
Paradise was beoming a political hot potato, too hot perhaps.
We have our work cut out for us .. we need to do a really good job on our first two wells, and start spreading the money around .... the philanthropy now makes sense. Oiljob
That is HUGE Eric ... good work. Oiljob
Welcome to the Maya Mtns. if I'm not mistaken. We now become the object of ire for every environmentalist in Belize. Only two things are sacred in Belize ... the reefs and the ancient Maya Mtns. ... probably the best untapped concession in Belize.
Formerly involved with the Prime Minister's nephew, he will be sitting on our Board (I bet).
Welcome to the big leagues.
P.S.: This is Andrew Reid's finest hour.
Plan : Announce massive contracts, announce 1 for 1 stock dividend, whisper "Germany" or any other european exchange, announce the cancellation of the contracts, driving the stock price down to trip levels, pay the stock dividend, which will further negatively impact the stock (it's not fully factored in yet), and quietly and without fanfare commence a major buy-back program to re-fill the Treasury's stock holdings, at which point the float is pretty much the same as now, with twice as much resticted stock, then announce the real deal and the reverse stock split. Now if they wish they can go private and buy-out all the minority shareholders with a hostile takeover. Well, just thinking out loud. . . Oiljob
P.S. This is a company that does not report ... however FINRA must require insider buying and selling to be reported???? Anybody know? But of course there wouldn't be any because that stock is all restricted.
I "think" we need to drill two wells in Belize, and make payroll in the meantime. Oiljob.
Are people really trying to day trade a dead-cat-bounce? This stock will continue downward until the revenue arrives, which I have every faith ultimately will occur. I will trade at trip-levels only until then, and in the meantime wait for my share dividend to arrive. Oiljob.
This stock often surprises at the EOD trade. Oiljob
We have an initial drill site, we are building a road, the equipment is in Belize, the financing is in place for the first two wells, drilling and rejuvenation of our Stateside leaseholds is progessing nicely, we should have the new Texas production numbers on line in a couple of days, setting our initial monthly baseline for Stateside production, and once we spud-in in Belize, this stock will commence moving higher, hopefully all the way to a successfully completed commercial well announcement. We can hold a raffle to compete for guessing the price of this stock the day after we announce a commercially successful well in Belize.
Go TECO.
This is Oiljob to Ground-Control ... I'm all strapped in and ready for take-off ... "commencing count-down".
Eastern wisdom: If one wishes to know the roller-coaster then one must go to the roller-coaster; which begs the question, does one have more fun on the way up or on the way down?
Buy low sell high ... has anybody hit the panic button yet ... ?
And, I want to see both the front and the back of the check showing it's been negotiated. Oiljob
Another move down tomorrow of equal or greater magnitude puts the stock in the trips. I pulled my .0015 purchase order over the weekend. I want to see the bottom. If we shave off just a little more we can make the trips ... now that's a goal I'm sure we are able to meet. Oiljob
Reverse Psychology .. I can only pray.
Poem: Trip-land will begin ... before revenue comes in.
So you want to see a bounce ??? Then show me the down payment check for the latest rig contract ... it's called revenue and it would really make this stock bounce ... show me the money.
John .. what contract are you referring to.. we build rigs,, we don't operate a drilling service. Oiljob
We don't have any drillers or roughnecks on our payroll that I know of.
Correct, you get your $300,000.00 back, plus half the real profits (not 10 bucks.. your speculating)... and you just broke into the rig building business.
Nothing like a shiny new drill rig with your name on it, hitting an oil well, to advertise your new corporate activity. Oiljob. I'm fine with it
I believe PGIE acts in the capacity of a rainmaker with various joint venture partners. They simply get the contracts. They do no actually perform the contracts. Oiljob
P.S. They will sell oil if the ever get permission.
Too bad we can't get some of that Libyan oil... the State Dept. would approve that sale in a heartbeat. Oiljob
Read: Finding gas is not a bad thing... it usually means the prior operator overproduced at that well, allowing the gas cap to invade his production pipe. Move over 50 yds and drill a new well to the same depth and you will likely produce oil again. You need to restrict your production rate to preserve your gas cap, and the integrity of your oil field, to insure future field production.
P.S. For secondary production at such a well you might pump in a liquid solvent that would push back the gas and allow the oil to recapture the production pipe. Acidizing is intended to increase the volume of calcareous rock providing production to a drill stem were porosity , permeabiltiy and prior prduction have reduced the oil's access to the production stem.
Chit : Keep up the good work. I always appreciate your diligence and insight. Oiljob
P.S.: The Germans call it Gestalt ... the ability to connect the dots and see the picture in the puzzle. Thinking outside the box and good research skills help as well. Fundamentals over Technicals.
I originally located this company researching for pennystock manufacturers of drilling rigs. This activity wsa the main reason I bought into this company, it remains my main reason for sticking with this investment, widget makers in the long run really make money... all the rest is cool and maybe the stuff of dreams, and if the State Dept. ever lets us sell some oil then we will see dimeland instantaneously, but until then I'm more than happy doing straight engineering work and maiking a buck. Oiljob
Stock prices are meant to reflect one's perception of future value, ... this isn't Westinghouse, it's a story stock ... if you don't like the story get out, but I'm hanging around for the last chapter... that's when the frog turns into a prince. Oiljob
P.S. Yes I'm an optimist
Well boys this is why it's called WORK and not PLAY,.... Reid, just get my bit spinning and I'm still happy. see you in Belize. Oiljob.
It's suppose to be the wet season in Belize right now, but the photos on Facebook make everything look pretty dry.... good for road building... Oiljob
P.S.: I wonder how much road we need to build????
Our new oil e&p acquisition was posted to Rigzone yesterday .. which is good news in the real world. Oiljob
If there is something holding up this 10Q I would bet it's the Kansas deal. Oiljob
SOS: MANAGEMENT .... WE NEED SOME REVENUE NEWS ... LIKE NOW. OILJOB
The pr state they are distributing Treasury shares ... These share are not new shares... They only increase the outstanding float. Oil job
I,m gonna fly down to Placencia, bribe the local bartender, identify the Treaty employees, and ply them with liquor until I find out what's going on. Just kidding. Oil job
P.S.: But I might start looking for his telephone number..... Lol... Patience is hard to do.
Kansas is very shy and never speaks, Texas is a little dry and dusty but every once in a while likes to kick up her heels, and Belize is very showy and at times somewhat secretive.... but I love all my daughters and believe they will each mature into fine women. Oiljob.
Good morning Kansas, good morning Texas and good morning Belize. Oiljob
I have no idea if we have spud-in yet or not. Maybe the first well is already half done. We need information ... it does not help to speculate. Although I'd suggest this is probably the most patient I-Hub board in the world. Oiljob.
When a casino owns the concession and half of the business I have to believe it's a sure bet. Oiljob.
P.S. And if we don't hit oil soon then they won't get to build their new casino. It's all very logical really.
Thanks King, I feel better now, somebody actually read my question, lol. I'm usually answering questions, but admit I know nothing about the Sudan, but I think we need State Dept. approval to sell Saudi oil as well, I was under the impression that the Saudi (Aramco) oil and Sudanese oil were two different allottments.
I feel also this board gets overly wrapped-up in the technical stuff and totally forgets the fundamental stuff, like revenue production; selling our monthly oil allottments would drive everything this company desired to pursue. Oiljob
We could be waiting for the results of a final geophysical 3-D seismic study, to illuminate the results from our RSS studies. Oiljob
P.S.: We want to drill an anticline not a syncline... both of which could show up as an aerial hot spot.
Do we need the State Dept.'s approval before we can sale the Intertorco oil? How long does that take to get? Oiljob