Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Confirming RookieInvestor1 I purchase stock in UNGS early last summer. I called and talk to a admin person in Florida and a field person (worker bee) in Kentucky/WV (can't remember) who was working on one of the rigs. (he was back at the shop getting parts or something)
I remember asking both these folks if they thought the company was going to make it? (Two seperate phone calls.) Judging from their response, I felt they were a little shocked that I even suggested it and seemed to have a lot of confidence with their employment. Both seemed ok attitude wise. The conversations even extended into small talk such as where we both lived and such. Very frendly. Not negative about the company what so ever!
I sold my shares later that summer, kept an eye on ungs and am back in now.
Regards,
snowcat
yes Stervc you are correct. I was trying to be as conservative, (based on available info) as I could possibly be. Lots of good thoughts here. Even the skeptism of Terry helps keep us on our toes. It seems like their is always a suprise or two.
One other thing I really like is, if you review financials you will see a number of folks/services were paid for by issuing shares of stock. A lot of folks have "skin" in the game with UNGS. A lot of folks want this to succeed. I hope this is a success. It would be fun to watch. If it does take a run I hope folks don't start selling to soon. If we can get up above a penny or two we are on our way.
In addition I really like a full reporting pinky. I believe this gives some credability to UNGS as well as how pinkies should be managed. (imo)
Regards,
Snowcat9
What are we not thinking about?
Thanks for the reply. Maybe I was reviewing Southgas's numbers. It shows 121 well x 2 =242 BOD. I think it should be 49 (just say 50) x 2 = 100 BOD. 100 BOD x 30 days = 3,000 Barrels per month x 100 bucks 300,000 bucks per month, x 12 months = 3.6 mil per year. (conservative estimate?) Please point out what is not right about the math.
In regards to buy back, not concerned, it is only an "intent to try", which might be possible with these revenues after expenses? Lets focus on revenues, shall we? That solves all problems.
This is a fully reporting pinky. Rare, I think?
84 million shares traded friday. Why? good question and a concern of mine too. Why would folks be selling? The math above anyone can figure out, and could see the potential.
Anyway bounce this off you all, what am I missing?
Best Regards,
Snowcat
Southgas/Stervc....Thanks for your analysis. Things do look encouraging. A question in the anticapated revenues. Are you getting oil well revenues mixed up with gas revenues? I don't count as many oil wells as you do. Let me know what you think. Thanks for taking the time!
Snowcat
Do not get scammmers mixed up with failure. We do not know the SEC complaint and maybe they do not either. The SEC is not at all ligit. Read about it daily. They pick the winners. At this point they maybe just trying to survive. I am certain 8,000 investers are not at all happy.
It sure seems they have went to great lenght to make it happen. Working with the finra, photos, new miami is real, just having water content issues. It would be diificult to keep a scam of this size quiet. You have many vendors involved in this. Everyone is sub-ed out. It would be easier to be succesful than to try to pull off a scam of this size. Once again maybe failure but I don't think it is a scam.
Regards,
Snowcat
Hi PhisHD, Thank you for your response. If you review the "Announced share repurchase plan" it mentions the word "extension". I belive it was originally announced last summer or maybe last spring, I cannot remember.
I am delighted to see the board understand how diluted their shares are and appear to have the intention to do something about it sometime in the future. They have an appreciation for "share holder value" so it would appear.
I do not respond on Ihub that often. When I bring it up it shows on my screen lates news of 9/7/11. I have updated my alerts on Scottrade. UNGS some how got deleted in my alerts.
Could you direct me on how to get more up to date news on Ihub. Someone posted I have only 49 messages or someting, I don't know what that has to do with anything. Appreciate the help!
Regards,
Snowcat
Please direct me to the latest news. I have none on Scottrade and the latest news on IHub is 9/07/11. The buy back of shares is old news from last summer, if I recall. Thanks for the help!
Snowcat
?????Does anyone know why the sudden increase in volume???? I have tried to watch this stock for about the past year.
Thanks,
Snowcat
Heads up maybe! I am with Scottrade. We have had 3 consecutive days of no trading. Does this mean we go to the greys? In addition, Typically my value changes at the end of the day with SFIO in regards to last price. This stopped happening after last thursday. This is a new development!!!! Any thoughts?
snowcat
If you are refering to the new miami well, it is a problem of to much water content. This is why there are 3 storage tanks. (seperate water from oil.) Weather has noting to do with how thick the oil is, as I am sure you realize. Utog is very suspect. I am however glad they are trying something instead of closing shop. Hopefully they have learned some lessons. (the hard way for all of us.) They have no other options that I can see other than a merger/buyout which may not be worth much at all.
Regards,
Snowcat
Is James Denverson a scam too? Thanks for your insight. I will keep reading.
Snowcat
Alberta Bakken!! Did a little DD and....Maybe I am the last to know, however goggle Alberta Bakken. UTOG has property in the Alberta Bakken which includes the new Miami well. It could get interesting if new miami is a strong producer. Quite possible that UTOG is ahead of the crowd and the FINRA on potential. Anyway take a look! KLee, you seem rational and objective, what do you think?
Regards to all,
Snowcat
thank you!
Could some others please confirm that the US patent was rejected? (with the possibility of a response by sfio) I missed this. By the way........thanks EY! SFIO BOD sure seems to be going to a lot of trouble to be a scam.
I was doing a little reading today and was reminded that in all of the investment banks and fraud (12 large investment banks) that the SEC has busted in the last few years...... only 1 conviction. We are talking billions of dollars. Only one person has been convicted, and he was ,one that came forward on his own as a witness to the scams.
Now lets compare that to SFIO's problems. SFIO had convictions for a few thousand dollars, while the investment banks basicly had none. (Billions of dollars) The problem is not SFIO, the problem is the SEC! This is so outragous that it cannot be placed into any rational thought. Point being, if you really want to complain.....here is a great place to start!
Based on the knowledge that I have, the SEC could have handled this much better than they have done. SFIO stockholders up to this point have been very mistreated. Many questions!! SEC is a joke!!!
I ramble...
Snowcat
Hey tightwad, I received a simular response yesterday also. This all makes logical sense to me.
This so called investigation by the FINRA I believe is for promotioal events starting from January 2011 and ending in May 2011. (5 month period.) We are now on our 7th month of investigaton. So the investigation has now taken 2 months longer than the actually time being investigated. Seven Months!!!
Do we all realize what other activities can be done in 7 month window? Hell I could build a house for example. It does not even take this long to incorporate. I don't care how many investigations are in the FINRA's file. I appreciate Bruce"s letter. Thanks Bruce!
Snowcat
Not to put words in Klee mouth, but 'guilty until proven innocent". Well said! I do know one thing for sure, it does not take this long to investigate the going ons.
The finea must be having trouble finding something wrong. I'm sure if they keep looking, maybe they can come up with something. I also understand that this is normal amount of time finea takes to investigate. If it indeed takes this long they should all find a different way to make a living.
I repeat, it does not take this long! It is also my understanding that the finea is a private company. Sounds like they need a little competition. Maybe this way they can get back to companies and stockholders in a reasonable time frame. WOW!!!!
Sc
I talked to Patrick about a week and a half ago and he told me that it is unclear to him why they were ever suspended. I have not seen any changes to their claims on the web-site. They seem pretty confident.
This would mean that the SEC had no knowledge in regards to oil exploration. It is sad to distroy companies, to just make a buck. Free market corruption, I guess, as you kind of stated.
Thanks for the explanation. Did not know. Have you ever really understood why the sec suspendend trading?
Thanks,
snowcat
Hey dirtdog all good points. I to do not like it when folks make statement and do not follow up either. It ticks me off to.
However, if you look back in the last six months they have pretty much done what they said they were going to do. That is why I have interest.
I also want to state once again, to my knowledge Utog has never been told why they were place on the grays or has it ever been proven of any wrong doing. I wonder if someone got stuck in a short position, could not cover and they had to cover their ass and make some kind of a complaint.
I am really considering getting out of the financial markets completely. Lots of corruption, MF Global, federal Gov. federal reserve etc. I think we are on the tip of a very large iceberg.
We are all finding out that integrity is a lost quality. 1/2 of americans are clueless and uneducated in regards to the constitution, and how the economy really works. Unfortunitly these folks can vote. Capitalism may not be the best of all economic plans but it is far better than anything else. I'm rambeling.
Regards
Snowcat
Hey dirtdog consider this! Lets just for my benefit, assume utog is on the up & up and always have been. Now just hang in their for a second and go with this!
If you felt you were close to being taken off the grays by statisfing the finea (wrong letters??) and wanted to make the greatest impact to move the pps as high as possible, would you not wait as long as possible to do a media blitz that may have a huge impact by means of bringing a lot of positive news at once.
The only reason I feel this way is that Patrick Smyth has convinced me as such. He is very careful what he says. I have spoken to Patrick, probably 6 times on the phone since June. He is very frustrated with how long this is taking, but is trying to be patient. ( the tone of his voice tells all.)
Utog has not been told what they have done wrong to be placed on the grays. This is what I know and believe. I suggest e-mailing him and tell him to call you on the phone, I bet he will.
Regards,
Snowcat
Elite Yoda thanks for sharing your views. Well done! and probably at times a little over my head.
I never gave a thought that the company could continue even though the stock could be dead.
What bothers me the most about this, is the resources spent in terms of dollars, the lenght of time it knowingly was going on, and the SEC & FBI to bust a couple of guys with basicly a slap on the hands? The risk/reward still looks pretty good to me, if one cares to engage in these activities. The ones who got hurt the worst, by far, are the SFIO shareholders. This is boarder line outragous!
Although I am inexperienced, the excuse that just because it is a penny stock, that it is "generally accepted" to expect increased shennigans is crap. It should be required for penny stocks to have to produce financials and post them like any other public held company. Without this, one is almost encouraging fraud.
As I mentioned I am inexperienced, and most likely I have not considered somethings due to my lack of knownledge. However, if the SEC wants to protect stockholders, requiring penny stocks to produce Quarterly financials would be a good start instead of doing stake outs to catch a couple of guys and bust them with meaningless fines and jail time. What a waste!
This is not to say that producing financial statement, in this case, would at all helped, but it may have reminded Board Members their obligation to stockholders.
Thanks Elite Yoda!
Snowcat
So let me get this straight! Roth (experienced)takes the job. For what? SFIO sells 80% of Europe interest, sign an agreement to generate capital. For what? SFIO continues with patent. For what? Roth keeps in touch, for what? The SEC allows trading to continue knowing something is up. For what? 10,000 dollars in fines and a year in jail? It just does not add up, but then again neither does the government and that might be where you are right!
Snowcat
It must be wonderful for those of you who accept that it is ok for the finra to take 5 months to figure out if utog is ligit or not. If you think this is ok I have a bridge to sell you. It is not that complicated! If you keep using the excuse that it takes this long to review an organization than you must be part of an organization who can control results of an outcome.
Folks it does not take this long! Unfortunitly we have to kiss some ass so we can get back on the pinkies! Does anyone really know "exactly" why we have been gray listed. Nope did not think so! Should not the finea tell us why? Lets kiss more ass because they "think" or has had complaints possibly by competitors about our promotions. Folks lets wake up and quit kissing ass!
Snowcat
Lets not get carried away here. You need to remember weather could effect pickups, so they maybe anticipating days where they cannot get to site or do not sell when their is a drop in price. Just guessing.
On another not did you see the price action today? .40 for most of the day and then boom someone sold 1000 shares for 330.00 dollars and the price dropped to .33 Hmmmm? action like this does not want one to be an investor in the stock market. I tried to purchase some shares today at .34 but could'nt getter done. Hmmm? Someone sure wants UTOG to fail. Gray sheets or not!
Sorry for the long post. I have been only allowed to post once a day. I was a very bad man!
Snowcat
Viewing the photos,it would appear that the size of the storage tanks are of large capacity. I believe when putting pump on line, the size of pump & storage tanks would be sized for the amount of expected production. Just a logical guess with some experience in mechanical engineering.
Snowcat
Yesterdays price action showed .0084 for most of the day. Then someone came in purchased 200 shares for a total cost of $1.30 cents and the price dropped to .0065. (over a $1.30 purchase.) Being new to this, it would appear shennanigans with the mm's. Could someone explain to me where I am thinking wrong about this. I realize price per share right now does not mean much , however, geeez! Thanks for you imput in advance.
snowcat
FYI I am with Scottrade. The bid and ask price was set to zero about 10 days ago. I now can only trade utog if I call it in. This is new development because I was able to purchase or sell about a month ago on line while it has been on the gray sheets. ST guy could not give me any reason. Anyone else experiencing this?
snowcat
Consider this? Since they are still under review with the FINRA, they still maybe finishing up and do not want to publish a quarterly report that is not agreeable with the FINRA. Pretty logical to me. Drawing quick conclusions may not always be wise. Things are not always what they appear. If you are correct, then they have went to a lot of effort thus far, just to be fradulent.
New Miami was drilled around June 17th ish. They have stated that it takes 90 to 120 days for a well to be producing. This would mean some where between mid Sept. to Mid Oct. As I count on my fingers this would mean they have done exactly what they said they would do. The well must be a producer (how much, anyones guess at this point.) otherwise they would not be install a pump & equipment. Seems pretty clear to me.
Hey I wonder if I could place a bid for 10 shares at .48 and the MM could accept it and boom last price could be .48.
At 26,000 shares traded today that has a value of 13,000 bucks. This means .0116% of the stock traded hands today. Not very significant if you are a bull or a bear on this stock. No one is giving up their shares. That is encouraging would you not say?
Firetrade might be right. I show a bid price on ST now and the ask price is no longer 1.77 as it has been since around the 1st of june. Nice catch firetrade! I would assume we would hear an announcement to confirm.
Need some clarification? It states 38 barrels "per hour" during swabbing not 38 barrels per day. This would be very significant if indeed it keeps up on that flow rate. Anybody understand what is meant here? Lingo/verbage? (at 100 bucks a barrel. wow!)
Hey Elite Yoda! Thanks for a well written explanation to my questions. Much appreciated. I am new to the market, as I am sure you can tell, but I love learning no matter how painful sometimes. A question has come to my mind. Does ST for example pay NITE for their services. If so, and NITE has caused this Lock Out, why are they and ST not held accountable? Someone is! I can understand the "global lock" in order to straighten shares out, but not for a month, unless of course someone is very short and sold more shares than they had. Why should share holder suffer because of this bad business behavior? Thanks again EY!
Where do the revenues come from that support the DTCC? Is it paid for by the brokers? Commission? If this is the case how can ST and others not be responsible for some type of explanation of the suspension? After all ST had no trouble charging me for the trade? Anyone have enough knowledge to explain? Thanks!
Hey Tom4investor2011.
I assume you transfered sfio shares to fidelity. We would be interested in knowing if those shares did transfer successfully and are you able to sell those identical shares? Thanks for the info in advance.
Scottrade is 500 bucks to open account.
Sorry...Scottrade 4 hours 8 minutes ago is came accross the news alerts.
Well number mix up? I just received a notice that they started drilling on Teton 1A-10. Did we not strike oil on this site on 6/28?