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Localoi, what did you find about the new production?
Are these the wells producing 100 barrels per day?
Here is a tiny little oil company, Texas Holdings. Like BD, it trades on the Pink Sheets. From what I can see, they are still cash flow negative. Also, I think BD has more proven reserves. We might also, if BD's March Production figures are correct, have more annual revenue. BUT TEXAS HOLDINGS IS TRADING AT $.60 / share. The difference as the press releases below indicate, is that TXHG is relatively transparent. So, to all of you that think I'm trashing BD when I complain about the lack of tranparency, well, that's not the case. I'm trying to help BD see the light!!!
What would BD be worth it these were our press releases???
• TX HOLDINGS, INC. Files SEC form 10QSB, Quarterly Report
EDGAR Online (Mon, Apr 2)
• TX HOLDINGS, INC. Files SEC form 10QSB, Quarterly Report
EDGAR Online (Tue, Mar 27)
• TX HOLDINGS, INC. Files SEC form 10KSB, Annual Report
EDGAR Online (Fri, Mar 23)
• TX Holdings, Inc. Receives $7,500,000 Letter of Commitment from the Baron Group, Ltd.
Business Wire (Wed, Feb 14)
• TX HOLDINGS, INC. Files SEC form 8-K, Regulation FD Disclosure, Financial Statements and Exhibits
EDGAR Online (Fri, Feb 2)
• TX HOLDINGS, INC. Financials
EDGAR Online Financials (Thu, Feb 1)
• TX Holdings, Inc. Appoints Jose Fuentes, CPA as Vice President of Finance
PR Newswire (Thu, Feb 1)
• TX Holdings, Inc. Appoints Jose Fuentes, CPA as Vice President of Finance
Business Wire (Tue, Jan 30)
• TX HOLDINGS, INC. Files SEC form 10KSB/A, Annual Report
EDGAR Online (Thu, Jan 25)
• TX HOLDINGS, INC. Files SEC form 10KSB, Annual Report
• TX HOLDINGS, INC. Files SEC form 10QSB, Quarterly Report
EDGAR Online (Mon, Apr 2)
• TX HOLDINGS, INC. Files SEC form 10QSB, Quarterly Report
EDGAR Online (Tue, Mar 27)
• TX HOLDINGS, INC. Files SEC form 10KSB, Annual Report
EDGAR Online (Fri, Mar 23)
• TX Holdings, Inc. Receives $7,500,000 Letter of Commitment from the Baron Group, Ltd.
Business Wire (Wed, Feb 14)
• TX HOLDINGS, INC. Files SEC form 8-K, Regulation FD Disclosure, Financial Statements and Exhibits
EDGAR Online (Fri, Feb 2)
• TX HOLDINGS, INC. Financials
EDGAR Online Financials (Thu, Feb 1)
• TX Holdings, Inc. Appoints Jose Fuentes, CPA as Vice President of Finance
PR Newswire (Thu, Feb 1)
• TX Holdings, Inc. Appoints Jose Fuentes, CPA as Vice President of Finance
Business Wire (Tue, Jan 30)
• TX HOLDINGS, INC. Files SEC form 10KSB/A, Annual Report
EDGAR Online (Thu, Jan 25)
• TX HOLDINGS, INC. Files SEC form 10KSB, Annual Report
• TX HOLDINGS, INC. Files SEC form 10QSB, Quarterly Report
EDGAR Online (Mon, Apr 2)
• TX HOLDINGS, INC. Files SEC form 10QSB, Quarterly Report
EDGAR Online (Tue, Mar 27)
• TX HOLDINGS, INC. Files SEC form 10KSB, Annual Report
EDGAR Online (Fri, Mar 23)
• TX Holdings, Inc. Receives $7,500,000 Letter of Commitment from the Baron Group, Ltd.
Business Wire (Wed, Feb 14)
• TX HOLDINGS, INC. Files SEC form 8-K, Regulation FD Disclosure, Financial Statements and Exhibits
EDGAR Online (Fri, Feb 2)
• TX HOLDINGS, INC. Financials
EDGAR Online Financials (Thu, Feb 1)
• TX Holdings, Inc. Appoints Jose Fuentes, CPA as Vice President of Finance
PR Newswire (Thu, Feb 1)
• TX Holdings, Inc. Appoints Jose Fuentes, CPA as Vice President of Finance
Business Wire (Tue, Jan 30)
• TX HOLDINGS, INC. Files SEC form 10KSB/A, Annual Report
EDGAR Online (Thu, Jan 25)
• TX HOLDINGS, INC. Files SEC form 10KSB, Annual Report
"My guess would be that a company would buy the leases and equipment and pay cash. Lanza would be a preferred stockholder and would receive payment before any common shareholders leaving us with zero."
In this scenario, it is unlikely that any type of "listed" company would ever buy the company.
"My guess would be that a company would buy the leases and equipment and pay cash. Lanza would be a preferred stockholder and would receive payment before any common shareholders leaving us with zero."
If there is a way for Lanza to screw the stockholders, well, you got to figure he will do it. I sense that it is just in his blood to screw people.
Does anyone know if any sharholders are suing BD and Lanza over all the fradulent PR?
"...management expects to publish 2005 and 2006 financials this week. Consequently, Black Dragon expects that all financial information will be given to the SEC Approved Auditors this week."
Looks like this didn't happen, again!!! We will be waiting for the SEC approved audit. Well, not really.
What a good series of posts tonight. It would be great to have a real shareholder on the BD Board. God knows there are a few seats available!!!
"IMO we're getting some really good news tomorrow..."
I always thought you were a paid pumper! Perhaps you can tell your bosses to make sure its verifiable.
Looks like even Nitwit has gone quiet!!!
"fully agree... this thing's going to run hard, just a matter of time..."
Nitwit, despite the recent PR the PPS is going down, not up. Why do you think this is? If you truly want this to go up, you should get on board and demand that the company issue verfiable PR. That would bring the price up. Why are you so reluctant to recognize that there is a credabilty problem that the company needs to address? Makes no sense if you want to see this thing move in the right direction. So would audited financials.
"Black Dragon is working on 3 additional water wells. It is management's belief that the 5 water wells will add over 100 barrels a day to its production."
Assuming the 6,700 barrels is truthful, the addition of the 100 barrels a day gets us to 9,000 plus per month. Plus there are the gas wells and other wells coming on line. So, this is all good news if truthful.
For those of you who know more about the oil business than myself, please explain how the water wells increase production. Thanks.
Lou, I would support such a bid on your part. Let me know if me and my number of shares --- I'm thinking you know how many --- can be of any help.
Nitwit, you want me to post something positve so here goes: I suspect that the March production figures are accurate at 6,700 / barrel. I also suspect that RedChips latest report projecting 9,000 / barrels of production for BD is reasonable and that it can be done. I'll give you another positive, I suspect that the RedChip analyst understands better than Localoil BD's business model, lease percentages, etc., and that the company can make money. I'm on record as disputing Localoil's pessimistic veiw of BD's business model. See, I can say something positive.
If you think this board is keeping the BD price down, I think you overestimate our influence. All BD needs to do to raise the PPS is to verify the facts, starting with the 6,700 for March. That is their challenge. My complaints are designed to move the stock price up, not a couple pennies but back to a dollar a share!
Yes, but if BD were to issue verifiable news, the stock would move twice as much as if the don't. They never do, so you have to wonder why? Let's get the truth out. Or did the board resign because the company is about to go under? Remember the audit that was promissed in March? And now they tell us it is just going to the auditor! Come on, how stupid do you think we are? How many times can you tell the same old story? I'd be embarassed to put that one out there again.
I'm just sick and tired of all the lies.
"Localoils mention of the 6700 bbls not being real numbers are correct. Though 6700 are pumped, only 65% or so are retained buy BDGR."
Localoil, its been awhile, but on this point I completely agree with you. Transparency is what is needed. Enough of the "numbers just went to the auditor" and the BD rumor mill. Seems that whenever this company has a chance to hide the facts, they do. Let's have some transparency!!!
With all the pumping action on the board recently, I expect BD to issue a number of PRs this week. It will be interesting to see if we get any PR that can be verified.
I'll be waiting, maybe for a long time.
"Localoils mention of the 6700 bbls not being real numbers are correct. Though 6700 are pumped, only 65% or so are retained buy BDGR."
Everyone should realize that per the lease terms, BD only gets a certain percentage of the oil they pump. That goes without saying. I don't see anything misleading about issueing the gross number. That's what I would expect.
"your right, but dollar range could easily be attainable with the right setup.."
Yes, dollar range is possible and I could walk away from this thing with a decent profit, but I don't believe Lanza can deliver on the promiss of this company. But if he really wanted to try, he could issue verifiable PRs with supporting documentation. That is what it will take to overcome the past history. That and 9,000 barrels / month would get us to 1.00 / share. A verifiable 9,000 / month will get us to the promissed land. This isn't brain surgery, so the question comes up, why hasn't Lanza done it?
If you are running a company with an integrity problem, then you address the integrity problem. Issue verifiable PRs. What is so hard to get about this?
Nitwit, there you are quoting BD's latest press realeases about doing 9,000 / barrels a month. Well, look at what they told us in '06 about actual production. Their claimed production for exceeded what actually hoppened.
AUG 4,934 (11,000 claimed as done)
SEP 3,712 (12,000 claimed as done)
OCT 5,130
NOV 4,027
DEC 3,638 (2000 BOE/Day was the reaffirmed expectation)
Given
Nitwit, there you are quoting BD's latest press realeases about doing 9,000 / barrels a month. Well, look at what they told us in '06 about actual production. Their claimed production for exceeded what actually hoppened.
AUG 4,934 (11,000 claimed as done)
SEP 3,712 (12,000 claimed as done)
OCT 5,130
NOV 4,027
DEC 3,638 (2000 BOE/Day was the reaffirmed expectation)
Given
Nitwit, there you are quoting BD's latest press realeases about doing 9,000 / barrels a month. Well, look at what they told us in '06 about actual production. Their claimed production for exceeded what actually hoppened.
AUG 4,934 (11,000 claimed as done)
SEP 3,712 (12,000 claimed as done)
OCT 5,130
NOV 4,027
DEC 3,638 (2000 BOE/Day was the reaffirmed expectation)
Given
"im not saying im going to defend pr's from the past... i agree that alot of them did over shoot however they were all forward looking anyways..lol.. every single one says EXPECTS, COULD etc... i don't think there is a PR in there where they straight up stated they earned or recovered something that they didn't.."
You seem to be making my point, that BD endlessly lies.
well all i can tell you and you can take it for what you want is that I do own stock and am not being compensated in anyway for anything positive i say about BDGR... believe it if you want.. what I find incredible is that if you truly are a dissatisfied long in BDGR, do you really think that what your doing is ever going to help your situation get better...
Nitwit, it is called being really pissed off at all the BD lies, and then some half wit like you shows up and tells me I got no reason to be upset, that I should just chear Lanza on. Don't you see, Lanza counts on all the past suckers to help him bring in the new suckers!
I want honest management that can return real shareholder value!!!
"i have a comment for everyone of those PR's, but thats alot of work.. can you answer me this however..."
Nitwit, you such a phony. You show up a couple of weeks ago, and now you say you can defend all of BD's past PRs!!! Well, get started. We are all waiting! This will be a great conversation to have. Can't wait to get started.
"think what you want..."
What I think Nitwit and why you irritate me so badly is that you don't own any of this stock and are a paid pumper. By contrast my long history of posting here, most of it reasonably positive, is a pretty good indication that I'm an actual investor. Your just a paid phony!!!
Nitweit, tell me which of these PRs are true and why we should start believing Lanza now? You are a cheap paid pumper.
BLACK DRAGON PRESS RELEASE STATEMENTS:
4/1/2005 : We’re on track to own at least 1000 wells by August 2005.
4/13/2005: Audited Financials will be produced shortly
4/14/2005: Black Dragon is marginally Profitable
4/26/2005: Walter Watts appointed Dir of Engineering
5/4/2005 : Expect to producing 30,000 Barrels/mo by year end
6/7/2005 : Expect to be producing 1000-2000 B/Day within 12 months
6/22/2005: Expect to reach $1M/mo gross rev by 12/31/2005
9/20/2005: 2005 ann Gr Rev to be approx $5M
10/28/2005: Will lay 7 miles of pipeline in November
10/28/2005: Paid $3M to Petrol Ind for oil & gas properties
11/3/2005: Expect Ann Gr Rev to exceed $5M for 2005
12/6/2005: Hired Susan Hahn & Assoc for Press, Media & inv Relations
12/8/2005 : Black Dragon applying for NASDAQ stock listing.
12/16/2005: Expects reporting req’mnts for NASDAQ
12/16/2005: Expects to hire auditor and audited financials
12/23/2005: Increases # of BD wells to 1087
12/29/2005: 285 wells are producing Expect 30,000 Barrels.mo yr end
2/13/2006: Will sell rights to build pipeline to Petrol Industries
12/24/2006: Could produce 8,000 Barrels oil in Feb 2006
3/13/2006: 1200 wells, 413 producing
-expect 30,000 Barrels of Oil by year end
-now 22nd rated oil producer in LA (out of 589 companies)
3/15/2006: RedChip Visibility Report – $1.6M free cash 2006,
-$18M IN FREE CASH 2007,
-340 wells in production,
-expect 900 wells in production by 4th qtr (Oct-Dec)
3/19/2006: WEXCO reserve report
4/3/2006: EXPECTS AN AUDIT IN NEXT 90 DAYS
4/4/2006: REV GOAL of $14M for 2006 IS HIGHLY ACHIEAVABLE
4/27/2006: Expects revenues for Q2 to exceed $4M
- Expect rev goal for 2006 to exceed $14M
4/28/2006: ENGAGES AUDIT FIRM (M&B)
- Audit will be for years ending 2004 & 2005
5/31/2006: Gemini Expl will commence drilling for BD Caddo Lake
JUNE 2006 RedChip reiterates:
- Q2 Revenues to exceed $4M
- FY Revenue goal of $14M +
- COMBINED PRODUCTION EXCEEDS 18,000 Barrels/month
6/1/2006: BD to Acquire Gemini Exploration for $25M
6/1/2006: BD EXPECTS Q2 REVENUE OF $4M (APR-JUN)
6/2/2006: BD sued by OMDA Properties comprise less than 5% of current properties owned by BD
6/9/2006: WEXCO reserve report: 73M Barrels of recoverable oil
7/5/2006: RedChip Rept: EXPECTS B/E 2006, $13M FREE CASH 2007
7/31/2006: EXPECT 30,000 BARRELS of OIL and 20MMcf GAS BY YR END
7/31/2006: WORKING W/AUDITOR TO COMPLETE ITS WORK
AUGUST 2006 RedChip : EXPECT Q2 TO EXCEED $4M IN REVENUES
- SAFE BET THAT BD WILL EXCEED $14M IN ANNUAL REV FOR 2006
- COMBINED CURR PROD EXCEEDS 18,000 BARRELS/MO
- SHOULD BE ISSUING AN AUDIT REPORT IN A MONTH OR SO
8/2/2006: BD EXPECTS TO REACH 30,000 B/MO BY YR END
8/23/2006: FIRST 6 MO REV ARE $1.6M
- MAINTAINS TARGET OF 30,000 B/MO BY YR END
8/31/2006: ANNOUNCES SALE OF 10,000 BOE FOR AUGUST
9/5/2006: EXPECTS 13,000 BOE FOR SEPT 2006
- THE AUDIT WILL BE READY BY SEPT 15 2006
- PLANS TO SEEK AMEX LISTING
- IN DECEMBER BD SHOULD REACH 30,000 BOE/MO
9/27/2006: MGMT REMAINS CONFIDENT 30,000 BOE/MO
10/3/2006; BD PRODUCES 12,000 BOE FOR SEPT 2006
- REMAIN CONFIDENT ABOUT 30,000 B/MO BY YR END
11/3/2006: 1000 VIABLE WELLS – 450 PRODUCING
- 600 PRODUCING BY END OF 2006
- UNAUDITED FINANCIALS BY END OF NOV
Changed my mind Nitwit. Your a paid pumper and I've decided I'm going to respond to everything you post.
Nitwit, everytime you post your cheap paid pumper stuff, I'm going to post Lanza lies from the past. Don't tell me the past don't matter. Past lies are why I own this company.
Again, Nitweit tell which of these PRs are true and why we should start believing Lanza now?
BLACK DRAGON PRESS RELEASE STATEMENTS:
4/1/2005 : We’re on track to own at least 1000 wells by August 2005.
4/13/2005: Audited Financials will be produced shortly
4/14/2005: Black Dragon is marginally Profitable
4/26/2005: Walter Watts appointed Dir of Engineering
5/4/2005 : Expect to producing 30,000 Barrels/mo by year end
6/7/2005 : Expect to be producing 1000-2000 B/Day within 12 months
6/22/2005: Expect to reach $1M/mo gross rev by 12/31/2005
9/20/2005: 2005 ann Gr Rev to be approx $5M
10/28/2005: Will lay 7 miles of pipeline in November
10/28/2005: Paid $3M to Petrol Ind for oil & gas properties
11/3/2005: Expect Ann Gr Rev to exceed $5M for 2005
12/6/2005: Hired Susan Hahn & Assoc for Press, Media & inv Relations
12/8/2005 : Black Dragon applying for NASDAQ stock listing.
12/16/2005: Expects reporting req’mnts for NASDAQ
12/16/2005: Expects to hire auditor and audited financials
12/23/2005: Increases # of BD wells to 1087
12/29/2005: 285 wells are producing Expect 30,000 Barrels.mo yr end
2/13/2006: Will sell rights to build pipeline to Petrol Industries
12/24/2006: Could produce 8,000 Barrels oil in Feb 2006
3/13/2006: 1200 wells, 413 producing
-expect 30,000 Barrels of Oil by year end
-now 22nd rated oil producer in LA (out of 589 companies)
3/15/2006: RedChip Visibility Report – $1.6M free cash 2006,
-$18M IN FREE CASH 2007,
-340 wells in production,
-expect 900 wells in production by 4th qtr (Oct-Dec)
3/19/2006: WEXCO reserve report
4/3/2006: EXPECTS AN AUDIT IN NEXT 90 DAYS
4/4/2006: REV GOAL of $14M for 2006 IS HIGHLY ACHIEAVABLE
4/27/2006: Expects revenues for Q2 to exceed $4M
- Expect rev goal for 2006 to exceed $14M
4/28/2006: ENGAGES AUDIT FIRM (M&B)
- Audit will be for years ending 2004 & 2005
5/31/2006: Gemini Expl will commence drilling for BD Caddo Lake
JUNE 2006 RedChip reiterates:
- Q2 Revenues to exceed $4M
- FY Revenue goal of $14M +
- COMBINED PRODUCTION EXCEEDS 18,000 Barrels/month
6/1/2006: BD to Acquire Gemini Exploration for $25M
6/1/2006: BD EXPECTS Q2 REVENUE OF $4M (APR-JUN)
6/2/2006: BD sued by OMDA Properties comprise less than 5% of current properties owned by BD
6/9/2006: WEXCO reserve report: 73M Barrels of recoverable oil
7/5/2006: RedChip Rept: EXPECTS B/E 2006, $13M FREE CASH 2007
7/31/2006: EXPECT 30,000 BARRELS of OIL and 20MMcf GAS BY YR END
7/31/2006: WORKING W/AUDITOR TO COMPLETE ITS WORK
AUGUST 2006 RedChip : EXPECT Q2 TO EXCEED $4M IN REVENUES
- SAFE BET THAT BD WILL EXCEED $14M IN ANNUAL REV FOR 2006
- COMBINED CURR PROD EXCEEDS 18,000 BARRELS/MO
- SHOULD BE ISSUING AN AUDIT REPORT IN A MONTH OR SO
8/2/2006: BD EXPECTS TO REACH 30,000 B/MO BY YR END
8/23/2006: FIRST 6 MO REV ARE $1.6M
- MAINTAINS TARGET OF 30,000 B/MO BY YR END
8/31/2006: ANNOUNCES SALE OF 10,000 BOE FOR AUGUST
9/5/2006: EXPECTS 13,000 BOE FOR SEPT 2006
- THE AUDIT WILL BE READY BY SEPT 15 2006
- PLANS TO SEEK AMEX LISTING
- IN DECEMBER BD SHOULD REACH 30,000 BOE/MO
9/27/2006: MGMT REMAINS CONFIDENT 30,000 BOE/MO
10/3/2006; BD PRODUCES 12,000 BOE FOR SEPT 2006
- REMAIN CONFIDENT ABOUT 30,000 B/MO BY YR END
11/3/2006: 1000 VIABLE WELLS – 450 PRODUCING
- 600 PRODUCING BY END OF 2006
- UNAUDITED FINANCIALS BY END OF NOV
Yes, I can give it a rest. Nitwit got under my skin. I'm out of here for a couple of weeks. Good Luck longs...
Nitwit, perhaps you should also reference these: Find the one that was truthful, if you can.
BLACK DRAGON PRESS RELEASE STATEMENTS:
4/1/2005 : We’re on track to own at least 1000 wells by August 2005.
4/13/2005: Audited Financials will be produced shortly
4/14/2005: Black Dragon is marginally Profitable
4/26/2005: Walter Watts appointed Dir of Engineering
5/4/2005 : Expect to producing 30,000 Barrels/mo by year end
6/7/2005 : Expect to be producing 1000-2000 B/Day within 12 months
6/22/2005: Expect to reach $1M/mo gross rev by 12/31/2005
9/20/2005: 2005 ann Gr Rev to be approx $5M
10/28/2005: Will lay 7 miles of pipeline in November
10/28/2005: Paid $3M to Petrol Ind for oil & gas properties
11/3/2005: Expect Ann Gr Rev to exceed $5M for 2005
12/6/2005: Hired Susan Hahn & Assoc for Press, Media & inv Relations
12/8/2005 : Black Dragon applying for NASDAQ stock listing.
12/16/2005: Expects reporting req’mnts for NASDAQ
12/16/2005: Expects to hire auditor and audited financials
12/23/2005: Increases # of BD wells to 1087
12/29/2005: 285 wells are producing Expect 30,000 Barrels.mo yr end
2/13/2006: Will sell rights to build pipeline to Petrol Industries
12/24/2006: Could produce 8,000 Barrels oil in Feb 2006
3/13/2006: 1200 wells, 413 producing
-expect 30,000 Barrels of Oil by year end
-now 22nd rated oil producer in LA (out of 589 companies)
3/15/2006: RedChip Visibility Report – $1.6M free cash 2006,
-$18M IN FREE CASH 2007,
-340 wells in production,
-expect 900 wells in production by 4th qtr (Oct-Dec)
3/19/2006: WEXCO reserve report
4/3/2006: EXPECTS AN AUDIT IN NEXT 90 DAYS
4/4/2006: REV GOAL of $14M for 2006 IS HIGHLY ACHIEAVABLE
4/27/2006: Expects revenues for Q2 to exceed $4M
- Expect rev goal for 2006 to exceed $14M
4/28/2006: ENGAGES AUDIT FIRM (M&B)
- Audit will be for years ending 2004 & 2005
5/31/2006: Gemini Expl will commence drilling for BD Caddo Lake
JUNE 2006 RedChip reiterates:
- Q2 Revenues to exceed $4M
- FY Revenue goal of $14M +
- COMBINED PRODUCTION EXCEEDS 18,000 Barrels/month
6/1/2006: BD to Acquire Gemini Exploration for $25M
6/1/2006: BD EXPECTS Q2 REVENUE OF $4M (APR-JUN)
6/2/2006: BD sued by OMDA Properties comprise less than 5% of current properties owned by BD
6/9/2006: WEXCO reserve report: 73M Barrels of recoverable oil
7/5/2006: RedChip Rept: EXPECTS B/E 2006, $13M FREE CASH 2007
7/31/2006: EXPECT 30,000 BARRELS of OIL and 20MMcf GAS BY YR END
7/31/2006: WORKING W/AUDITOR TO COMPLETE ITS WORK
AUGUST 2006 RedChip : EXPECT Q2 TO EXCEED $4M IN REVENUES
- SAFE BET THAT BD WILL EXCEED $14M IN ANNUAL REV FOR 2006
- COMBINED CURR PROD EXCEEDS 18,000 BARRELS/MO
Say Nitwit, which one of the following press releases posted by 57tbird to you want to argue are true? Which one? Could it be that none of them are true? I thought you said you were going to do your due deligence? Let me know what you found out. You sound like a paid pumper. Come on, pick a past press release and defend it? But we are supposed to believe Lanza's new releases...
- SHOULD BE ISSUING AN AUDIT REPORT IN A MONTH OR SO
8/2/2006: BD EXPECTS TO REACH 30,000 B/MO BY YR END
8/23/2006: FIRST 6 MO REV ARE $1.6M
- MAINTAINS TARGET OF 30,000 B/MO BY YR END
8/31/2006: ANNOUNCES SALE OF 10,000 BOE FOR AUGUST
9/5/2006: EXPECTS 13,000 BOE FOR SEPT 2006
- THE AUDIT WILL BE READY BY SEPT 15 2006
- PLANS TO SEEK AMEX LISTING
- IN DECEMBER BD SHOULD REACH 30,000 BOE/MO
9/27/2006: MGMT REMAINS CONFIDENT 30,000 BOE/MO
10/3/2006; BD PRODUCES 12,000 BOE FOR SEPT 2006
- REMAIN CONFIDENT ABOUT 30,000 B/MO BY YR END
11/3/2006: 1000 VIABLE WELLS – 450 PRODUCING
- 600 PRODUCING BY END OF 2006
- UNAUDITED FINANCIALS BY END OF NOV
Trust Lanza, he'll do you no wrong. None at all.
"where did that rumour start anyways?? show me something supporting that BDGR is out of money..."
Say Nitwit, I've been posting on this board for longer than you. For the record, I purchased this stock when it was well down from its high of $2.00 but still much higher than today, and when BD was still promissing month after month that it was going to hit 30,000 / barrels per month by year end, and issueing what turned out to be very exagerated press releasses as regards current monthly production. So, yeah, I got issues with management. Go check the record, it is there for everyone to see. (If you keep challenging me on the facts of this matter I will take the trouble to actually start posting BD's old press releases. I can prove my point. You can't.) If they had actually produced what they said they had produced, there wouldn't be any problems here.
Don't challenge my motives. I'm the real thing, a stockholder in the comapny. You by contrast sound like a paid pumper. Someone who has just arrived to support whatever management is now up to!
Also, my concern about BD running out of money was originally posted by Lou last week. Look at the old posts. He was the one to raise the issue. And Lou is known to have the inside track on this company. So if he is posting somethink like this, it is worth taking note.
it first of the month and they get cash from all oil and gas sales. they rent from joe, so they can skip paying rent and there part of phone bill. joe might loan the company money if it in his best interest and i think it will be to his best interest if more wells are open and more gas wells are drill.
Yes, and how many millions more shares might Joe want to loan money to BD? Will the terms be in the interest of shareholders? Remember how Barry "extingished" all that debt, was it several million, that was owed to Lanza? I worry a lot when I hear that BD is running out of money just before it is about to be cash flow positive. Is more dilution on the way?
"i do see all the resignations as a positive and shareholders do have faith in Lanza and BDGR.."
Litwit, the shareholders on this board do not have faith in Lanza. You can't and you shouldn't even try to resurrect his reputation. End of story. There are a few ways to look at the resignations: one, that the company is about to be sold and the services of the people who resigned are no longer needed; two, that BD is in worse shape than we know and the rats are jumping ship; or three, that Lanza fired everyone that might oppose his new "game plan." You might have an opinion as to what is going on with BD, but there is no way of verifying anything. My hope is that Lanza's interest and the shareholders align, and that we can all benifit from a sale. But like I said earlier, I don't trust this talk about BD being broke. Looks like we are being set up for further dilution.
"...or is there more to it..."
A lot of us are down considerably. So we are caught between hoping for the best and wanting to believe the company's PR and realizing that this is a company with a history of lying. I don't thimk you can find anything in the recent negative posts to dispute as regards past BD lies. So there is a lot of scepticism here. Having said this, the production numbers they are now issueing sound accurate. RedChip's most recent review of BD indicated they ought to be able to hit 9,000 barrels / month. So, we are guardedly hopeful. But none of us who have been around here long want to be made a fool of. Personnaly, I worry when I hear that BD is running out of money when they are just about to become profitable in another month. DOesn't sound right and leaves me to wonder if management isn't trying to pull another fast one.
"Granted there is a LOT of oil left stuck in the ground in the Pine Island Field. Thousands of investors over scores of years have bitten on the "potentially recoverable reserves". But it is the RATE of recovery that is so problematic. If the oil could have been extracted any faster over the past 100 years or so don't you think that I would have been?"
No, not at $20 / barrel. But you can bet that a lot of new technology will be emplyed at $70 barrel. You are too stuck in the past.
Well, let's hope our interest align with Lanza's. It is what it is, so might as well stay calm. Just remember, the price of oil is only going up. Should see 70 plus this summer again. So, BD has value.
If it is true that we will be cash flow positive by May, well, then we don't have a cash flow problem. With the increased production, NOI can't be that negative. This is an easy gap to fill. I just worry that the situation could be exploited. But again, the price of oil should carry this company into the promissed land.
"Lanza has been very honest and forthright with me, at least as far as I can verify. He told me of the cash flow issue and that they are entertaining better offers. The company seems far more transparent than in the past."
Lou, you are on the record as being a major critic of Lanza and a major supporter of Barry. Now you have flipped! What gives? As regards verification, what verification can you provide us as regards BD's cash position? Calling the company or talking to Lanza is not verification.
"Estimates are that we will be by May, if we can last that long."
Lou, this is the most pessimistic thing I've ever seen you write regarding this company??? What's up???
"I will be calling the comapny to do some DD............I like bargains.........."
I don't know of anyone that has been able to get verifiable information from BD. Which has been a long standing issue. So, I wouldn't count on being able to do any DD in any normal sense of the word.
"More than a few companies are looking at BDGR for a possible buyout. That is the good news. The bad news is that we are not yet cash flow pos."
Lou, what operating numbers are you looking at?