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Thank You!
Thank You!
Thank You!
Sorry you feel that way. Guess you've completely lost perspective.
Lou, by the way, since the spreadsheet you refer to was prepared by the former CFO, and you seem to hold it in high regard...why is it that same CFO's final words to the effect that 'Lanza does not have the company's best interests at heart, not is he to be trusted to either speak or write anything truthful regarding BD's operational data' holds so little collateral with you?
These written words from the man who produced that spreadsheet speaks volumes (too many I guess for charttalk to ever comprehend, but certainly understandable by you).
Hey - Happy Thursday!
Lou, I find it absolutely fascinating that you share but one portion of the facts. Such is your desire - so be it. I know you know what I know. That makes me seriously wonder what you could possibly be thinking by not sharing everything and letting others make up their own minds - as they do their own follow-ups, verifications, confirmations and similar DD.
And have no fear, as I told you earlier I no longer have that spreadsheet and can't "reveal" any other pertinent data you don't want anyone to view. Seeing those numbers once was enough for me.
As far as the "75% average" figure - How does 90% of a well producing 1/2 BOE/mo (.45 BOE) and 60% of a well generating 5 BOE/mo (3 BOE) equate to an average of 75%?
ie: 75% of 1/2 BOE would be = .375 BOE
75% of 5 BOE would be = 3.750 BOE
Total 4.125 BOE
When in reality, .45 + 3 = 3.45 BOE
Okay, in Lanza's Lying vernacular, in the above example BD would average 75% (60% for one and 90% for the other) of the well's production. In actuality, they are getting 62.727% of the gross production for the two wells. (3.45 BOE out of the 5.5 BOE.)
Not a lie, necessarily, but a misrepresentation of the facts, perhaps. Something Lanza is quite adept at.
Perhaps your moment of stupidity, as you so eloquently referenced, wasn't your only moment.
Can this be the same mike7777 that posted this a few days back?
"boys, we'll be fine. Keep buying as much as you can at these levels, our day is comming. We'll see high .90s soon. BUY BUY BUY."
So...what has happened to change your mind/ Anything concrete....a gut feeling.....a herd instinct? Perhaps knowing that someone with a lot of shares is selling because he/she knows something we don't?
Whatever was your basis for your earlier posts? Wait - don't tell me...I think I know.
Did you keep a copy of all the false PR's issued from the past umpteen months? You might try calling Barry.......see if he has any solid recommendations.....
Lou......Remember his parting words about not being able to Trust Lanza to do the right thing for the company...AND not being able to trust anything Lanza says...
A bit of a contradiction, wouldn't you say?
Ryan, let me ask you a question...Do you actually think Lanza is going to tell Lou (or anyone else) what he's been up to?
Do you not realize who Lanza is? Do you not know of his criminal past? Do you not know of his criminal conviction and time served in prison? Do you not know of the substantial number of charges brought against him for fraud in issuing false PRs and conspiracies to commit fraud?
Do you not know the timespan of these changes levied against him?
Do you not know of the monetary damages his wife had to pay on the fraudulent monetary gains he funneled to her?
Do you not know how many oil/exploration companies Joe, Joseph, J Anthony, J.A., Joseph Anthony, Mario, Jayne, and other family members own or control?
You must be joking. Expecting Lanza to tell Lou what he's been doing? That's insane.
Who am I to post any numbers? What the heck kind of a question is that? You think I made up some numbers and spit them out?
Like you, I'm an investor seeking to gain as much knowledge as I can about any company I'm thinking of investing in. That spreadsheet was not prepared by me, but rather someone at BD privy to the data.
After reading those false PRs issued by BD, claiming an already reached production of 11,000, 12,000, 18,000 and soon to be 30,000 BOE/mo, I wanted to know the real numbers. That spreadsheet detailed actual production for the past three years and was quite an eye opener. At no time did production exceed 5100 BOE/mo.
Of course, I willingly shared that info with other investors on this board. I did so, not to bash, as some morons claim, but to educate and inform.
I hope that answers your question.
I guess you missed my post where I detailed the monthly numbers .....Probably due to the likes of Chart's and Nitwit's posts getting in the way.
Lou, From what I remember, the monthly monies paid by BD to Four Star took a HUGE jump several months back and kept climbing. If you still have that spreadsheet - can you tell what, if anything changed to cause that continued spike?
If memory serves, the monthly production figures were fairly static - in the 3000-5000/BOE/mo range.
The term "cash cow" appears to be quite appropriate. Lanzas benefit substantially - whilst BD shareholders may be the constant losers.
My own opinion - Lanza, the consummate con-man, has no intention of losing this cash cow. Given his history, I can well see why.
Any suitor would see the Revenues, see the expenses, and make a judgement call based on current production, potential growth, oil demand, etc. Barry likley understood the payments to Four Star and saw the profit potential if BD was ever taken over and run by capable, honest, management - driven by bottom line results and intent on reducing expenses and improving efficiences. Those qualities, IMHO, have no accommodations in Lanza's world - except when it comes to his own pockets.
As always, JMMHO.
Spunky - Don't overlook what Lanza has done with BD's profits - this very shrewd character has diverted many, many, MANY $$$$ into Four Star's coffers. Too bad we don't own shares in Four Star instead.
He has managed to run BD very effectively, and has been equally effective in paying Four Star plenty for their "operating services". In every sense, he has done a teriffic job in making money for Four Star (and his family).
(No monkey could have accomplished that..)
If I produced a balance sheet that showed I was paying out $75,000 each month for services rendered, as part of my own operational expenses, no auditor would question that fact, as I'd have the receipts to prove it. They may question my business judgement for possibly grossly overpaying for those services, but the audit would attest to the income and expenses, and hence the ending operating profit.
There would be no need for the auditor to look at Four Star's books.
The spreadsheet says it all! Lou..... any comment?
LOL! I keep looking at posts # 672 and # 1091 and remembering when.....Welcome aboard!
BD IS making money. Unfortunately it is being "paid" to Four Star for "services rendered". We all know who owns Four Star.
The Lanza family's personal Cash Cow. Hence, no desire to do anything which might jeorpardize that cow's cash influx.
Lou, care to comment on the monthly payments to Four Star for the past several months? I believe that spreadsheet has been seen by a few posters already. Clearly BD is profitable in the sense of production and operational status - albeit it is represented quite differently in any accounting presentation.
Happy Tuesday!
lOCALOIL - I doubt if it's worth paying one word or one second of attention to this individual. - Has no clue, doubt if he'll ever get one.
lOCALOIL - I doubt if it's worth paying one word or one second of attention to this individual. - Has no clue, doubt if he'll ever get one.
lOCALOIL - I doubt if it's worth paying one word or one second of attention to this individual. - Has no clue, doubt if he'll ever get one.
lOCALOIL - I doubt if it's worth paying one word or one second of attention to this individual. - Has no clue, doubt if he'll ever get one.
FastB...If you were Lou, (or any investor) what three questions would you most like ANSWERED TRUTHFULLY by Mr. Joseph A. Lanza?
Black Dragon Resource Companies, Inc. was incorporated as Vita Health, Inc in December 1999 and later in the year changed its name to Vita Warehouse Company, Inc. It further changed its name to Texas Diversified Distributors, Inc. in 2001; to Black Dragon Resource, Inc. in February 2004; and to Black Dragon Resource Companies, Inc. in December 2004.
Who wants to take a stab as to what it will be called in 2008?
Perhaps:
Lanza Industries LLP.....
or, Black-Star-Petrol....
or maybe: Four-Petrol-Resources...
How about: Four-Star-Petrol-Dragon....
maybe even: JAL Enterprises (Apologies to Japan AirLines)
or taking the name of that famous law firm: Dewey, Cheetum & Howe......
I heard he accepted a position as a CEO somewhere in FLA, but I have no idea where. His common name makes a quick search difficult.
I think we all got those emails and pubs. Unfortunatley they were as duped as we all were by BD's fraudulent missles. Bill Miller left Red Chip - an analyst who was representing BD for RC - not clear as to why he departed, but he did warn a few of us (Lou included, I believe) to look elsewhere to invest.
I'd love to speak with Bill now and see what transpired re BDGR's ultimate exposure.
Jerk # 2 responding to Jerk # 3
The past two months you've been reading every post - eh?
Do us all a favor and read the last two years posts. Then come back, hopefully, with some insight.
Welcome to the 9th inning. Care to know how all the runs were scored - or are you just interested in the last at bat?
Really....
That would not surprise me -
I think we're all getting that same cold call from Red Chip. I had a very similar conversation and said much the same things. They must be feeling the anguish and/or wrath of more than a few investors as a result.
I think we're all getting that same cold call from Red Chip. I had a very similar conversation and said much the same things. They must be feeling the anguish and/or wrath of more than a few investors as a result.
Lou,
This board should be a place to share information, factual information, not silly nonsense comments from the likes of Nitwit or someone stating their feelings that something big is liable to happen this week/month/year with no basis for stating so.
Or...maybe it is a place for pumpers to aimlessly pump, and bashers to haplessly bash. Who knows who posts for whatever reasons.
It has been a long time since anyone had any real information to post. Its as if no one cares about trying to research (due diligence, if you will), and are content to await questionable PRs, and of course the ever- promised audit results.
That audit becomes a legal piece of data, and those presenting the data to the audit firm will be held culpable for any and all false material, withheld material, and material deliberately misrepresented. IF Lanza is serious this time (why would he be) he runs the double risk of getting caught lying, as well as exposing his Four Star/Petrol cash cow(s)
to investors. A rock and a hard place for sure. It may be just where he belongs. Those may be the very reasons the audit didn't happen in 2005, 2006, or yet.
Happy Sunday!
Probably because I'm so pissed at the lies, I want to see if there's a possibility to recoup my losses. But, as I indicated, before I risk another dime in this company, I need something solid (and verifiable) to latch onto. I'm not into throwing good money after bad.
As you know, Dollar Cost Averaging only works when the stock price rises. And I'd rather see a stock's price rise due to a company's profitablity, than to see it rise due to PRs touting wholly ficticious events.
Did you pause at all to consider Barry's parting words, or are you more comfortable believing and trusting Lanza?
Lou, I no longer have that list. Once I looked at the monthly production of BOE for the last two years, I was sickened.
I never looked at the lease data - wayyyyyyyyyyy too much data to try to fathom, and I'm not sure I would have understood what was represented. The file was immense.
The monthly totals told the ugly story. Proof positive of the series of false PR claims of "actual production". ARGGGG!
Lou, are you getting ANY of this (Local's last post) ??????
This is what I'm talking about.
This is the kind of input that makes sense of it all.
I'm not anywhere knowledgeable on oil production issues, production challenges, equipment maintenance costs, pick up & transporting, or anything related to the cash flow possibilities of an exploration company.
I'm not exposed to the type of areas BD has purchased non-producing wells on. How is that they were able to buy/acquire these leases? Was it luck? Was it because no one else wanted them? Was it because others were more knowledgeable? Was it because everyone else was too stupid to recognize their potential value?
How many small oil exploration companies are there in the area? How are they coping? Are their costs in line with BDs? Is their output in the range of BD's output?
Soooo many questions I wish I had answers to.
"57tbird, If yougo through the numbers you will see that the ave. working interest is about 75%. Some are as low as 55% and others in the high 80s. I think those numbers are in the range that Local says are typical and profitable."
Lou,
By itself, that means absolutely nothing to me. 75% of what? 80% of what? 55% of what?
When the PR came out announcing BD had produced 11,000 BOE for the month of August, I bought more.
When the PR came out announcing that BD had produced 12,000 BOE for the month of September, I bought more.
When BD reiterated they were well on track to exceed 30,000 BOE/mo by the end of December, I bought more.
When they announced they expected to reach $14,000,000 in annual sales, I bought more.
This was indeed a company on the move, with ever increasing assets. I wanted all the stock I could get at $.30-$.60/share.
When they announced they would soon have an audit done and would seek a listing on the NASDAQ (and later the AMEX), I bought more.
Boy, was I on to a good thing.
Now, I'm supposed to take Lanza's word for something? I don't think so. Now, I'm supposed to take your word for it because Lanza told you? I don't think so. Now, I'm supposed to put total faith in the accuracy of PRs being issued by Lanza? I don't think so.
This ain't bashing, Lou, this is real life playing out. A man who cheats at cards, will always cheat. Lanza has been cheating with his own set of cards for decades. Nuff said.
80% of what, again?
Again, I do NOT have info on the leases.
Again, I am not stirring up trouble.
If you think that I am stirring up trouble, as you say, then there must be something to hide. Else, let the legitimate questions flow freely and hopefully factual answers and accurate responses will follow.
Like many others, I have lost money on this stock, and would like to think I can recover by buyimg more at this low price.
HOWEVER, I, not unlike anyone else, NEED to know I'm not seeing, reading, and hearing more Bullshi* from our lying friend Lanza.
To date I haven't seen any reason to get back in at this time.
If Lanza called me up again and told me he was close to selling the company to the XYX company and we would all receive a $1.00 per share cash buyout for each share we owned, I'd hang up on him.
If I read a PR from him saying that event was close at hand, I'd dismiss it for I think it would be - another complete fabrication from a man who has demonstrated his prowess at issuing false statements.
So, unless someone can show me (and everyone else) a valid reason to get back in, I'm not getting back in.
You call that bashing. I call it doing due diligence.
You call it stirring up trouble. I call it an attempt to get factual information to make an investment decision.
Call it whatever turns you on. It is what it is.
I'm simply amazed that you, or anyone else, can put any stock into anything coming from Lanza's lips. What on earth makes you think he's being honest and truthful with you or any of us now?
What, have you forgotten or completely ignored the history with this man? A man who politely smiles, shakes your hand and lies to your face, again, and again, and again. A man who seizes every opportunity to take financial advantage of others
to feed his family's coffers.
Black Dragon could very well be a profitable company, IF run by competent, honest, well intentioned, management. Obviously
that is far from the current situation - if you don't agree with that assessment, you really do need to seek psychiatric assistance.
Of course, everything I've said is JMMHO. BUT, I do have rock solid evidence to back it up. What have you got? Lanza's word?
I'm sorry. Too many lies, too many garbage PRs, too many false representations for me to ever feel comfortable with anything BD's new CEO has to offer. Lanza cleaned house before the house cleaned him. I'll give him his due - he's smart, cunning, and very much a polished con man. Again, JMMHO.
Lou, By the way, anything and everything Lanza has told me, to this date, has proven to be "inaccurate." And that word is giving him the benefit of the doubt.
Lou, I'm really surprised you (1) asked me that and (2) I do NOT know for a fact what BD's percentage of oil produced goes to them.
I only know what Lanza says, and his record of not coming close to telling the truth is very well known.
BD may own 65% of one well, 35% of another well, 25% of another well, 90% of another well. If one of those wells produces 50 BOE/mo and the other s produce 1/2 BOE/month, it would be nice to know which is which, and just how much BD is credited with.
I'm sure any suitor would also like to know those facts.
I'm sure you recall a certain CFO's parting words regarding the unreliability of Lanza to do the right thing for the company and for shareholders...or did you conveniently forget or choose to ignore?
I'm also sure you may recall a statement regarding an inability to trust anything Lanza said - these coming from someone who obviously was on top of things and intimately familiar with BD.
I realize that in your new role you only want the best for BD and stockholders. I seriously doubt if Lanza shares your view.
If you are willing to accept Lanza's word for anything, you are more naive than I would have thought.
You are now in a position to ask, and demand, answers to the hard questions we have all been trying to get answers to. Before you start throwing stones, I'd ask that you get serious about getting those questions answered - if not for any of us, for your own sake.
I also realize you may not be able to share anything you learn, but learn you should.
A dialogue with Localoil should give you a jump start as to the expectations of what BD owns, the quality of those wells, the general consensus of those in the local oil industry, specifically regarding the many wells purchased by BD that no one wanted. Localoil should also be able to start you off with a list of basic questions to ask concerning BD's operational challenges, issues, gross overpayments to Four Start and Petrol, etc, etc, etc.
If you're up to.
According to up Tick.com,(a Red Chip like org paid by BD) they have met with Lanza and have seen the unaudited data (so they were told) and believe it was sent to the auditors last week. Or so they were told....
They readily admitted they had no knowledge of the previous
year and a half of PRs full of false, misleading, and deliberate misrepresentations. (I encouraged them to spend a few moments and do some independent research on that subject).
Perhaps they will, perhaps they don't care to upset one of their paying clients. It matters not. They are paid to print and market whatever Lanza spews forth.
You can fool some of the people some of the time....Lanza may be hoping there are many more to fool all of the time.
Perhaps the folks on this board can come up with a list of questions that our two poster BOD members can ask Lanza?
Like:
How much of the 4,000 BOE will BD receive revenue on?
Given the past series of lies and dates, how can we expect that the audit will ever be completed?
How many wells does BD own outright (ie, 100% of the production gets credited to BD?)
And a raft of very appropriate questions posed by 'Localoil'
Lou, I'm sure you have a hundred of your own Hard questions for Lanza to duck, sidestep, ignore, misconstrue, or simply lie to.
Anybody?
"OIL CITY, LA--(MARKET WIRE)--May 11, 2007 -- Black Dragon Resource Companies (Other OTC:BDGR.PK - News) today announced that its oil wells produced over 7,000 barrels in April."
Gee, I wonder just how much of that 7,000 barrels belongs to BD.....
Gee I wonder if they own 35% of the well production for those wells.... 45%......50%...more? less?
Golly. I just can't determine what they own, what percentage of the oil produced from these wells that they own a percentage of....would be attributable to their bottom line.
Guess I just can't decipher Lanza-speak. Can anyone?
Who's your daddy....?
The meeting should now be a matter of public record (yeah right). Maybe we'll see a Press Release to that effect, much like the last one re a special BOD meeting ending with the "resignations" (sure) of the Rickster, Nepotic Mario, and the lot.
I can see it now - "BD signs LOI to be acquired by Exxon-Mobil for $18.75 per share. Lanza will neglect to mention that price applies to the single, supervalued, voting share issued by the company to him.
Who knows, maybe we'll see an announcement to the effect that the auditors now have the data necessary to perform the audit.
(Lanza will neglect to add that they will only be looking at the first seven days of FY2007)
Or....something to the effect that BD expects to be at the 30,000 BOE per month run rate by the end of 2007...or 08....or....
Maybe, we'll see news about 55 new wells coming on line in the next 30 days. Lanza will neglect to mention that, although they are line, no definitive production will be realized.....well, maybe a pint a week per well. He'll likely also forget to mention that they only "own" 30% of that weekly pint per well. Just an oversight, on his part, of course.
(Maybe Lanza told the board great things are right around the proverbial corner. Maybe they believed him)
I wonder what he'll tell us.....