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It will get there soon enough all on it's own, then the 1500:1 RS and start all over again... will this time be the winning run, who knows? I'm not getting back in until production numbers are out BETTER than 130BOM and FS claims can be substantiated. Then maybe, if the dilution goes away, I'll stick a toe back in the water and hope the gators don't bite the damn thing off.
Yeah, he got so excited that he misspoke (typed)...lol. At least we don't have to hear about his incessant NO PRODUCTION claims! Now it will be the LITTLE PRODUCTION rant. What would we do without UncleDad to save us from investing in PEII...
I'm not saying to buy and hold this but play the dips and peaks like any stock. If PROVABLE substantially increased production does happen, that may be a big game changer. Just MY OPINION, like you I am entitled to it.
Uncledad, if you go to the same website you posted and check the individual leases and well P4, Oil proliferation numbers you will see the individual well production rates. The total production of ALL the wells together is 15.5 BOD. Most of the wells are pumping 0.5-1.5BOD with one pumping 3BOD , most are just shut in. These are pathetic numbers and obviously the wells are not stimulated at these rates. I'm looking to see if any rates step up after the acid treatments. So far, I'm not seeing any change but again there is a delay. The 60 day comment is found somewhere on the site as well but I can't remember how I got to the page with that statement. I will keep trying to retrace my steps that I fund it with. If I do, I will post the link. By next month there should be numbers posted for sure. IMO
That's true, for about 5 minutes after the stock opens, then watch it drop like a rock as dilution kicks in. Until the dilution backs way off only a fool would go through the R/S only to take an immediate beating on the other side. Don't forget until your shares are swapped by your broker for the new ones you can't trade them and are along for the ride as institutional buyer bring the price down. By the time you get to trade it will likely be well south of the $0.15/share mark and likely falling. You won't be able to do anything but watch. Oh, and don't forget the ticker symbol change that adds further confusion for 30 days. This stock should be avoided like the plague right now, until the R/S pans out and production increases.
Dilution is a given for now. It will have to stop for 2-3 days for me to believe it. Look how fast we got back to the trips this round. Only about 400 million OS and @.0007. Last round we were at heading north of 10 billion OS before we got this low in price and there was no production then. The dilution will start right after the R/S, slow at first but as the price falls the pace will increase till the dilution slows "ALOT" otherwise just another FS BS money grab move. Personally, It will be harder for FS to get money out of seasoned vets here but easy for new meat with the promise of oil riches just over the horizon... always just over the horizon...lol
Triple zero's are here until the R/S happens. No point buying now, unless you want to throw money away. Buying back in after the R/S is the smart move, about 3-5 days after, depending on production news. IMO
I was curious about that as well. Found out there is a delay of up to 60 days for the site to be updated with some production information due to what; I don't know. So much for timely data updates. The wells do show production of 15.5BOD though on the TRRC site.
Tom, absolutely do NOT buy this with intentions of holding thru the R/S. That would be a BAD move unless the day of the R/S they hit 400BOD oil production, then I would be buying too...lol. Can't believe with a 1500:1 R/S hanging over this stock and 388M OS that anyone is buying this with a .0011/share value... Guess some think its a bargain, those that don't do DD will get burnt here, BAD!
Exactly, that would be perfect timing but ONLY if more production is eminently coming on line FOR SURE otherwise run like hell and never look back...lol. It will just be more of the same down trend otherwise.
Bernie, DON'T touch this before the reverse split, anyone who does will wish they hadn't. Don't forget, right after the split there is a couple day time frame for your broker to complete the share swap and this could tank in that time (like last time) and you won't be able to do anything but watch in disgust as you loose money.
Oh no, some one will buy it. "If" it did a R/S today @ 1500:1 it would only have 258,558 OS "if" @ .15/share the float would make it attractive right up until massive dilution would happen again. Make no mistake, FS will eventually get this to $1.00/ share territory likely by next year if things go to his plan at all. The problem is, FS did it all with investors along the way getting nothing in return, unless you are in the "last" batch of investors... the ones that aren't subject to massive dilution and R/S, they reap the benefits of all who has come before and all there investments that disappeared into the FS scheme. PEII will be a good "investment" some day, just not today or anytime in the next 60-90 days in my opinion, based on what FS laid out today on the radio. Not to say you can't play it and make money off it, if you are very careful. All IMO.
Think about it, 1500:1 R/S @ .0001/share is back to $0.15/share; just what FS needs to keep this on the OTC.QB. It's a no-brainer. He EXPECTS it to hit .0001/share before the R/S. That way the S-1 sale of .011/share will go through if he wants it, no matter what. Hand writing is on the wall people, do the DD and read it. Save what you have left in PEII to re-invest AFTER the R/S when there will be about a million OS for two minutes until trading jumps it to 100 million shares at about .015/share within a couple days. It's what I'm doing but I'm waiting a few days for the .015 price again...lol. I'm out till then. Good luck!
Anyone buying this stock right now is a total fool. A 1500:1 pre-announcement has been filed with the SEC "PRE 14C". With a R/S eminent; sell all you have in PEII and pick up again AFTER the split. Buying before a R/S almost NEVER is a good move.
No, he didn't address the R/S.
You didn't miss anything. People are just speculating when the next R/S will come... FS hasn't mentioned it at all. Just dilution and more oil coming... when, anybodies guess.
Just keep an eye out for an SEC filing. Though, staying on the OTC-QB isn't going to happen at this rate. The S-1 financing is a smoke screen, FS never needed it, he went to other creditors and sold chunks of shares in private sales that are getting dumped on the market. It was and "is" FS diluting the stock, just kind of an end run doing it.
No R/S until 3-4 billion shares or until we get get to .0001-.0002 range again.
Basically the share buyers (myself included- to a lesser degree) to this point have been "CANNON FODDER". Hold on to your money now (what's left) and buy more shares at a later date. This will fall to the "TRIPS" again soon and dilution will continue throughout the month. End of September is when I will be looking to get back in. Until then it's a loosing game for the share holders, not FS. IMO
No, say it isn't so, we are shocked you would even think such a thing! Oh, wait, you have only been saying this FOREVER!!! Get a life already! Do you wake up every morning and say to yourself, "What a beautiful day to go bash PEII some more". Hell, even Naz gave it a rest once in a while. You're a friggin' broken record with the same crap every day, day after day, after day, after week after month.... We get it, YOU THINK PEII IS A SCAM!!! Some of us here don't and WE don't need you to try to save us from ourselves, BECAUSE WE ARE ALL ADULTS! That said, Have a wonderful day!
Problem is, until more (substantial) production increases happen the share price will flounder here in .003-.004 land. At least progress is being made on the wells and by end of first week in September we should start to see production from Snyder-Simmons lease.
Looks like all next week is supposed to be dry in OK around PEII leases. Has dried up some last week as well. Hopefully all work is done and injection has commenced in OK!
Outstanding Shares as of 8/14/2014 = 98,103,461
98,103,461 X .0033= $323,741 Total Market value for a company with over $3M in assets and more oil on the way! This should be at about $0.032/share for break even market value at this point.
It's all about share price, if this maintains or make significant gains in share price then less shares need to be sold for needed capitol to run PEII's operations. If share price tumbles down more then more shares have to be sold, it's simple math. If 50 BOD starts flowing soon then NO way we are getting anywhere near 2B share mark. 150M by end of month is a distinct possibility though depending on when more OIL starts pumping. IMO
NITE and CDEL are nothing new they have been here since pre R/S doing their song and dance two step. Those trading thru NITE have been the big manipulators of PEII for months and have been responsible for most of the losses for investors here. IMO
If FS wants the S-1 money, and I think he very much does. He is going to get oil out of OK and boost TX output real soon. He may even OVER estimate the production at first. That will drive this well over $0.01 IMO (I'm looking for around $0.03+/share) even with moderate dilution. We are at about 80M shares at this point and by end of month may be north of 100M OS shares. At a penny a share that's a market value of $1M, well undervalued if 50BOD is pumping. Right now we are at a market value under $250,000, REAL CHEAP! Detractors, say what you will, there is money to be made here if played right.
Extremely unlikely. Likely oil will be produced in sufficient quantity soon to raise the share price, even with dilution, above the $0.01 line again.
If CPUS and the SEC bothers to look at the PEII share price prior to approval then either it won't get approval (due to dilution happening now that is suppressing share price) or PEII will have to manipulate the price above .01 again somehow. Only three ways that can possibly happen. Either another reverse split (very unlikely, even for FS), share buy back to raise price temporarily, or produce oil and lots of it soon. I'm betting on the last one because it's the only one FS has a hope of doing and not getting tar and feathered by all speculating (trading) PEII shares. Just food for thought. By the way if the S-1 does get actual approval (for real this time) and there is no additional (50BOD) oil production then this is going to not be pretty here in PEII land. All my opinion but no matter what there will be a push to get this back above $0.01 within the next 25 days.
That is a distinct possibility. Some of the stuff that comes out of them is just ludicrous, some has merit but usually that is stretched beyond reason too.
That's the difference between some here. Some are actual investors in PEII (myself included) and others were past investors that let their money ride all the way to the bottom instead of pulling out before it went to .0001 and beyond and salvage something. They are pissed at Floyd for their own short sightedness. Maybe I will ultimately loose money here in PEII, technically I'm down as of today but think it will be short lived and I will be seeing some major green in my portfolio because of PEII soon, maybe this week even. I just hope FS follows thru and gets major oil coming in ASAP.
I mean, I have problems with the dilution and how long it's taking for more wells to go on line, so I sent e-mails voicing my concerns directly to Floyd through their website. Haven't got any answers yet (didn't really expect any) but at least I voiced my concerns to the man himself. If more did that instead of doing it here, maybe it would actually cause a change versus bellowing and writing in CAPS everywhere. I would hope everyone here with concerns would make there feeling know to FS or NOTHING will change. IMO
Hey Uncle, just curious, have you bothered to voice these concerns DIRECTLY to Floyd through the "contact us" e-mail on the PEII web site? Seems like that is where you would do more by actually confronting him with the questions and see if you get any answers.
Which means if there was 600,000,000+ OS then I might be worried about full valuation but at around 60,000,000 OS instead this is way undervalued, now for the fun of it add 50BOD production to the mix, yeah, I know why I bought this at these prices.
Right now I figure it's around $290,000 at this price level, even with the DILUTION! It's a ridiculous valuation for this stock. This is WAY OVERSOLD!
Oil well secondary recovery is not an exact science if you will. I am just as disappointed as anyone that it hasn't completed yet but it will "soon" (like a few days), I believe. I wish we had new pictures of the site wells on the PEII website to show recent progress. Would make all here invested rest a little easier if we had more information other then "soon". Hopefully good news in radio show PR tomorrow.
The plaintiff withdrew the case. Case closed. The court ruled in favor of the defendant (FS) with prejudice against the plaintiff to ever bring it back to court. This is old news, why keep bringing it up as if it is a great conspiracy theory?
I hope so too.
Here is where many make a big mistake when it comes to stock investing. The only question that people should be asking themselves is "Is the share price positioned to make positive advances from where it is now or is there a better inflection point coming and when?" Once you come to a decision as to when to buy based on available information (flawed or not), you own it until you decide to sell your position in that stock. When to buy and when to sell, the only two questions that matter with stocks, any stocks. Neither I nor anyone I know can tell you when to either for sure. That said, this, I believe is the time when most will have wished they did invest into PEII in my opinion. That's why I did and am. FS and PEII have plenty of flaws and "what if's" but I think the picture is clearing and getting more positive from here forward. IMO
The lawsuit was "WITHDRAWN" and it was based on an incident that happened over four years prior to the suits filing in 2013.
Simple, when PEII total BOD exceeds 50-60BOD then a taper in share sales will start in my opinion. The shift to share price growth will begin in earnest, it just makes sense. The sooner we get there the better. I am thinking and betting on end of August beginning of September time frame. Share sales will taper further when we get to over 100 BOD to much less because share price will be stable and much higher than here now. They can sell fewer shares and get same needed cash for it. Again, it just makes sense.