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They've been talking about GSE reform for several months now and that is an old article rehashed. I could be wrong, but I think Ed Demarco has already tried a different version and it failed. Now Mel Watt has been nominated to replace him, and the article I read yesterday about what he wants ( to continue giving loans to people who can't afford them ) it would just be continuing the problem that crashed the housing market in the first place.
That story is old news, they've been talking about GSE reform for a few months now.
Countdown to zero!
I hope you're right, I talked my dad into buying some shares ( 80K ) and he bought it at @ $3.43, I bought 50K shares @ .93 a couple of months ago. So if he has to take a loss, I'll sell and try to cover his losses.
I signed it.
Closed $2.10 Extended hours -.02 @ $2.08
Federal National Mortgage Association (OTCBB:FNMA): Company SVP & Controller, Gregory Fink, sold his shares at a price of US$3.92 on May 28. At the same day, the company EVP-SF U/W, Pricing & Cap Mkt, Andrew Bon Salle, sold his shares at a price of US$3.66.
Early Morning -.013 $1.60
Archipelago Exchange
That doesn't really answer my question, doe's or doe's not the dividend payments made to the Treasury by Fannie and Freddie go towards the money they owe $189 BIL.
CNN Money released an article today saying the dividend payments were being applied to the $116 & $71 BIL loans that Fannie and Freddie received. An article yesterday said the dividend payments were not being applied to the loans, which is correct?
Are all Fannie and Freddie's profits going to the Gov. in dividend payments and if so how can the stock ever have any real value if their not able to keep any of their profits?
Archipelago Exchange
I read an article on the WSJ that said the dividends will not go to paying back the loan to the Treasury. Can someone tell me if this is correct, I can't believe they gave them $59 BIL with none of it going to the loan.
Doe's someone know why Market Watch has Fannie down .45 after hours and my E-Trade account say's it's down .09 after hours.
They haven't had a run to $6, so what are you talking about?
Here is Fannie Mae's housing survey for April 2013
http://www.fanniemae.com/resources/file/research/housingsurvey/pdf/nhs-monthly-data-050713.pdf
Previous months
http://www.fanniemae.com/portal/research-and-analysis/housing-monthly.html
Here are the rules to get re-listed to the NYSE
To be listed, a company must have at least 1,100,000 shares in public hands. There must be at least 400 shareholders holding 100 shares or more each.
At the time of listing on the NYSE, a company's share price must be $4 or greater. If the share price falls below $1 for an extended period of time, it can be de-listed.
Several financial criteria must be met to qualify for listing based on earnings or market capitalization. The company must have earned at least $10 million in the last three years or have market capitalization of $500 million, revenues of $100 million and positive cash flow.
I've already filled a complaint about two months ago and here is there response.
Dear Mr. Collins:
Thank you for providing your comments to the U.S. Securities and Exchange Commission (SEC) regarding Worthington Energy (Worthington). You complained that Worthington issued misleading press releases, diluted Worthington’s common stock shares, and its management works for its own interest instead of its shareholders’ interest.
The SEC’s Office of Investor Education and Advocacy (OIEA) processes many comments from individual investors and others. We keep records of the correspondence we receive in a searchable database that SEC staff may make use of in inspections, examinations, and investigations. In addition, some correspondence received by OIEA is referred directly to other SEC offices and divisions for their review. If they have any questions or wish to respond directly to your comments, they will contact you.
Thank you for communicating your views.
Sincerely,
Vivien Liu
Senior Counsel
Office of Investor Education and Advocacy
U.S. Securities and Exchange Commission
(800) 732-0330
www.sec.gov
Did you buy in around .95 ?
Well, the SEC got to back to me with my complaint and it was useless.
Dear Mr. Collins:
Thank you for providing your comments to the U.S. Securities and Exchange Commission (SEC) regarding Worthington Energy (Worthington). You complained that Worthington issued misleading press releases, diluted Worthington’s common stock shares, and its management works for its own interest instead of its shareholders’ interest.
The SEC’s Office of Investor Education and Advocacy (OIEA) processes many comments from individual investors and others. We keep records of the correspondence we receive in a searchable database that SEC staff may make use of in inspections, examinations, and investigations. In addition, some correspondence received by OIEA is referred directly to other SEC offices and divisions for their review. If they have any questions or wish to respond directly to your comments, they will contact you.
Thank you for communicating your views.
Sincerely,
Vivien Liu
Senior Counsel
Office of Investor Education and Advocacy
U.S. Securities and Exchange Commission
(800) 732-0330
www.sec.gov
They did you a favor by deleting it.
I just filled out the form and submitted it.
The only reason I posted it, is to show you the stupidity of one person to place a bid that large with this company.
April 29, 2013 12:00 PM ET
Symbol Lookup Recent Quotes
WGAS, FNMA, UOMO... Refresh
WORTHINGTON ENERGY INC COM NEW WGAS: OTCQB
Energy : Oil & Gas - Integrated
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Last Price Today’s Change Bid (Size) Ask (Size) Day’s Range Volume Trade
0.0013 -0.0002 (-13.33%) Bid 0.0012 x544,353,300 Ask 0.0013 x95,500,100 0.0012 - 0.0015 5,994,724
OTCQB Real Time Quote Last Trade as of 11:57 AM ET 4/29/13
Extended Hours Quote and Chart: Show|Hide
Open 0.0015
Previous Close 0.0015
52 - Week Range 0.0011 - 0.260
4/25/13 - 4/27/12
Avg Volume (10 days)
17,652,171
P/E (Trailing 12 mo.)
--
EPS (Trailing 12 mo.)
-1.129
Next Earnings Date
--
Market Cap 269.8 K
Shares Outstanding 207.5 M
Beta 0.0
Dividend Yield --
Dividend --
Ex-Dividend Date --
Dividend Payable Date --
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WGAS reaches:
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April 18, 2013
10:00 AM ET Worthington Energy Reports 2013 Reserve Evaluation for VM-179
PR Newswire
WGAS Company Overview
Company Contact
Headquarters: Suite 1094, 220 Montgomery Street
SAN FRANCISCO, CA 94104
Web Address:
http://wenergyinc.com
Worthington Energy, Inc. (Worthington), formerly Paxton Energy, Inc. is an oil and gas exploration and production company with assets in Texas and in the Gulf of Mexico. Worthington's assets in Texas consist of a minority working interest in limited production and drilling prospects in the Cooke Ranch area of La Salle County, Texas, and Jefferson County, Texas, all operated by Bayshore Exploration L.L.C. (Bayshore). The Company's assets in the Gulf of Mexico consist of a leasehold working interests in certain oil and gas leases located offshore from Louisiana, upon which no drilling or production has commenced as of December 31, 2011, and a 10.35% interest in the recently drilled I-1 well and a 2% royalty interest in 14,400 acres in the Mustang Island Tract 818. On March 27, 2012, it acquired certain assets from Black Cat Exploration & Production, LLC.
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Over the last five years there has not been an insider stock purchase at WGAS.
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I can read, It's on e-trade bid @ .0012 for 544,353,300
There is a bid for 0.0012 x 544,353,300, that's $653,223
Let's hope, I've been sitting on this stock for over a year. I still think It will go a lot higher and is the only reason I didn't sell when it had the huge jump a few months ago.
GLTA
Good Morning Ladies and Gents.
Does anyone know when the merger with U.S. Air will be complete and what the new trading symbol will be.
It would have to be both, for every seller there must always be a buyer.
Only on TDA, everyone else is still trading them.
I guess we need some more bad news, it seems to be helping their PPS.
.000000000000000000000000001
Depends on if you're looking for a long term or short term investment, IMO this will be a decent long term play stock.
You can place orders on E-trade, i just placed an order to see and there was no ploblems, then canceled. I've already to many shares that are worthless, I don't need anymore.
If all you TDA users are not able to buy any shares through your broker, I'll sell you my Worthless Energy TP ;)
Not sure if everyone saw this article, it's was posted on my E-trade account.
Worthington Energy, Inc. (OTCQB: WGAS) ("Worthington" or the "Company"), an energy company engaged in the acquisition, exploration, development and drilling of oil and natural gas properties, takes this opportunity to provide its shareholders with a valuation update on the status of the Company's Vermillion Block 179 (VM179) asset.
Today, the Company reports that they have received the 2013 Reserve and Economic Evaluation on Vermilion Block 179, issued by James F Hubbard Petroleum Consultant ("JFH") in New Orleans, LA. At the request of Worthington Energy, JFH prepared a reserve and economic evaluation of Worthington's VM 179 lease located in the shallow waters of the Gulf of Mexico, offshore Louisiana, as of January 1, 2013. Worthington currently owns a 70% Leasehold Working Interest, with a Net Revenue Interest of 51.975% in 546.875 acres in the Vermilion 179. VM179 is adjacent to Exxon's producing VM164 #A9 well.
The 2013 Reserve Report shows Gross Proved Reserves of 784.3 Thousand Barrels (Mbbl) of Oil and 2,215.4 Million Standard Cubic Feet (MMSCF) of Gas, and Net Proved Reserves of 407.6 Mbbl Oil and 1,151.5 MMSCF Gas, with a Projected Future Net Revenue of $41.3 million and a Discounted Future Net Income of $24 million (PV-10), an increase of $4.6 million, or 12.5%, as compared to Projected Future Net Revenue of $36.7 million and an increase of $3.7 million, or 18.2%, as compared to Discounted Future Net Income of $20.3 million (PV-10) for 2012.
The 2013 Report also shows combined Gross Total Reserves for VM 179, both Proved and Probable, of 2,129.7 Mbbl Oil and 4,237.9 MMSCF Gas, and Net Total for all Reserves of 1,106.9 Mbbl Oil and 2,202.7 MMSCF Gas with a Projected Future Net Revenue of $108.5 million and a Discounted Future Net Income of $61.2 million (PV-10), an increase of $10.8 million, or 11.1%, over a Projected Future Net Revenue of $97.7 million and an increase of $6.1 million or 11.1% a Discounted Future Net Income of $55.1 million (PV-10) for 2012.
The Gross Reserves referenced above are to 100% working interest in the lease. No deductions have been made for royalties and overriding royalties. The Net Reserves and all income data are to the net interests owned by Worthington. Appropriate deductions have been made for royalties and overriding royalties.
Reserves are those quantities of petroleum (for the purpose of these definitions, the term petroleum refers to naturally occurring liquids and gases which are predominately comprised of hydrocarbon compounds) which are anticipated to be commercially recovered from known accumulations from a given date forward. All reserve estimates involve some degree of uncertainty. The relative degree of uncertainty may be conveyed by placing reserves into one of two principal classifications, either proved or unproved. Unproved Reserves are less certain to be recovered than Proved Reserves and may be further sub-classified as Probable and Possible Reserves to denote progressively increasing uncertainty in their recoverability. Probable reserves are those unproved reserves which analysis of geological and engineering data suggests are more likely than not to be recoverable.
Down another 17% in after hours .0019