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looks like someone is dumping shares. Must be management diluting again.
and most likely paid for with the proceeds from the shares that they appear to be dumping!!!
With all these updates, it would be nice if they would give the current number of outstanding shares. It sure feels like they are selling shares like crazy to pay for their day to day expenses, etc. Dilusion seems to be happening in a big way.
sounds about right!!!
sure looks like they are dumping shares to cover expenses. at these prices, and the amount of dumping, this could go alot lower. hope someone asked the question on the current outstanding shares during the open town hall.
has anyone talked to Mick lately?
holding steady. Maybe Buddy is right. We will see a strong series of pr's to pump up the interest.
I have had that happen when I place an order for say 500,000 shares and it's done in pieces, sometimes you get one transaction that is very small ... in fact, today I bought a company at .0115 (100,000 shares ... the first transaction was for 2 shares ...) so it does happen ... or it could just be a MM cleaning up their books ... who knows ... eom
I hope this is the case. If it is the case, I believe Catherine has legal obligation to state such in some form of announcement. What could be holding her up, other than the fact that the well might have to be reclassified as "proven". anyway, just a thought.
just huge!!! now let's wait and see how much of the pfsd product they buy!!!
well, we now have a basic round trip from the lows several months ago. not very encouraging for a company that seems to acquire a company a week. must be more dilusion than we know about.
Interesting!!!
why wouldn't they maintain their original holding in the lease. If so, they would have some interest in the drilling through their interest in the lease.
It would definitely be good news if they have in an interest in this latest well. Might be the reason that Catherine hasn't changed the name of the company and gone off on someother tangent ... as she has in the past.
I believe you will find that they didn't pay ...
and what might that be?
if they still do, then it should be a positive. It was one of the prospects that had very low risk.
This is from the list of the Gulf properties:
OCS-G 27091; South Marsh Island, South Addition Block 152 (“SMI 152”)
20%
15.00%
there could be a little bending of the truth here. Frank Jacobs of Velocity was the lead guy on that deal. In the end, it fell apart because Matrixx didn't come up with the necessary funds. That's the way I was told it went down.
I believe Entek was the seller to Velocity as well. The bottom line is that John, catherine's husband, never came up with the funds, using as an excuse that he never received the proper paper-work. I would have to check on Velocity's
filings, but I believe they are also claiming that they won the South Marsh deal. In their case, I believe they paid for thier share. Again, this is how it was explained to me.
It will be interesting when mxxh files if they show any ownership in these wells. I would bet that, if they do, they will also state that they never paid any money.
From the Velocity filing in August (19th I think). Remember, all mxxh activity was on the leases Velocity had ...
On or around June 30, 2009, the last of the Company's other oil and gas rights located in the Gulf of Mexico expired and as such, the Company does not currently hold any oil and gas interests or rights as of the date of this filing. Moving forward, the Company is planning to focus its attention on geothermal energy, producing liquefied petroleum gas ("LPG") and possibly other downstream energy/engineering projects, funding permitting, of which there can be no assurance.
More on Leases:
Matrixx Acquires an Interest in a Second Offshore Oil &Amp; Gas Lease
Posted on: Thursday, 21 February 2008, 18:00 CST
Matrixx Resource Holdings, Inc. (OTCBB: MXXH), announced today that it has entered into a definitive agreement whereby acquiring a 10% working interest in a second lease located in the Gulf of Mexico.
The Company announced late last year its intent to acquire five Gulf of Mexico leases. The first acquisition announced earlier this week is known as the Viosca Knoll Block 79, is a 5,760 acre lease located in 79 feet of water off the coast of Alabama. The second of such leases is known as the South Marsh Island Block 152 ("SMI 152"). SMI 152 is a 2,000 acre lease located off the coast of Louisiana in 240 feet of water.
The majority owner operator has proposed to drill three wells, the first to test the H-0, H-1, H-2, I-3, and I-4 objectives, all that have hydrocarbon indicators conforming to structure. Each sand ranges from 25 to 33 acres and 13 to 31 feet pay sand. The second of such wells is expected to test the H-1 and H-2 sands both covering 34 acres and an average net pay sand of 24 feet. The H-1 sand is the only objective for the third well. The H-1 sand has good amplitude conforming to structure over 35 acres. The H-1 sand appears to be thicker here than the other fault blocks on the lease.
Independent 3D seismic geophysical assessment performed on the lease indicates a potential discovery ranging from 11.28 BCFG and 112,800 Bbls of oil to 18.55 BCFG and 185,200 Bbls of oil. Today, natural gas prices are currently trading at approximately $8.5 million per BCFG and near $100/Bbls of oil. Matrixx has remained steadfast in its efforts in acquiring growth and investment opportunities in the oil and gas sector with the intent of providing the Company and its shareholders a much-improved increase in shareholder value.
Safe Harbor Statement: This press release contains forward-looking statements as defined in The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan", "confident that", "believe", "scheduled", "expect", or "intend to", and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties, and actual results may differ materially from those expressed in any forward-looking statement. Such risks and uncertainties include, but are not limited to, the ability of Matrixx to complete the proposed acquisition(s), the results of Matrixx's due diligence review of the candidate(s), the success of the business of the acquisition candidate(s), including the ability of Matrixx to continue to sell the applicable products and the acceptance of those newly designed products by the market, market conditions, the general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's SEC reports and filings.
Contacts: Matrixx Resource Holdings, Inc. Catherine Thompson Media & Investor Relations (310) 456-1778 (310) 456-3199 (FAX) Email: ir@mrhi.net Website: www.mrhi.net
SOURCE: Matrixx Resource Holdings, Inc.
Matrixx was part of this group of leases. Jacobs was with Texhoma Energy before coming to this company. You may recall that Matrixx was doing business with Texhoma when they did all that drilling back in 2007 (?)
VELOCITY ACQUIRES GULF OF MEXICO PARTICIPATION RIGHTS
November 30 2007
Velocity Oil & Gas, Inc. (“Velocity” or “the Company”) is pleased to announce that on November 8, 2007 the Company entered into a definitive Purchase and Sale Agreement acquiring the participation rights to five oil & gas exploration blocks. The participation rights were acquired from Entek USA Inc., a wholly owned subsidiary of Entek Energy Ltd. an Australian company listed on the Australian Stock Exchange (“Entek”).
The exploration blocks are located in federal waters in the Gulf of Mexico offshore Texas, Louisiana and Alabama covering a total of approximately 23,000 acres. All Blocks are in relatively shallow water ranging in depth from 100 to 240 feet, have 3D-seismic coverage and have 14 drilling targets identified. The first well is expected to be drilled in early 2008 in the Viosca Knoll Block 79 (“VK-79”) to a target depth of 2,900 feet. The estimated share of Velocity’s drilling cost is $300,000 and completion costs are $230,000.
Velocity now has the opportunity to earn a working interest in the blocks by paying on a promoted basis a third for a quarter for the work programs outlined in the Participation Agreement with the operator, Ridgelake Energy, Inc. a private company based in New Orleans, which in four of the five blocks are the first exploration well down to casing point.
To date, the operator and other joint venture participants have spent a total of approximately $5 million on the acquisition of the leases, seismic data and geological work. As part of the terms of the agreements, Velocity will be required to reimburse Entek its share of the sunk costs plus interest ($878,987) from 50% of the net production revenue. The repayment obligations are only applicable from discoveries in the particular exploration block (ring-fenced). The exploration rights and the repayment obligations are summarized as:
OCS Lease No. and OCS Area Name/ Block:
Forward
Cost Paid
Interest Earned
Payments to Entek
OCS-G 26190; Viosca Knoll Block 79 (“VK 79”)
13.333%
10.00%
$ 65,292
OCS-G 26560: High Island Area, East Addition, South Extension, Block A 307 (“HI A-307”)
13.333%
10.00%
$ 62,839
OCS-G 27078; Vermilion Area, South Addition Block 317 (“VM 317”)
13.333%
10.00%
$ 127,479
OCS-G 27089; South Marsh Island, South Addition Block 138 (“SMI 138”)
15%
11.25%
$ 299,425
OCS-G 27091; South Marsh Island, South Addition Block 152 (“SMI 152”)
20%
15.00%
$ 323.952
In addition a $193,270 payment is payable to Entek in case of a discovery in any block payable out of 50% of revenue from any exploration block.
A finder’s fee of 500,000 shares is payable to Sterling Grant Capital, Inc. a Vancouver based will be payable upon closing of the transaction.
Mr. Jacobs, the President and CEO commented: “I am delighted with the acquisition as it is laying the foundation for our growth-plans in the greater Gulf of Mexico area. The exploration concessions contain low-risk prospects and even proven reserves for the Company
the leases in the Gulf they pr'd back in early 2008(?) I believe. This was right at the end before they fell off the map.
just checked. those leases expired earlier this year.
I totally agree. and there is still the question of the leases in the gulf with Velocity Oil and Gas. I don't believe those leases have been drilled yet.
Hopefully, we can get some kind of answer to this soon.
Common stock; $.001 par value; 1,000,000,000 shares authorized;
20,030,240 shares issued This is from their 6-30-09 filing .. I assume that it hasn't gone up much from here.
strange. I thought this was supposed to be public information. If the company is going to be the source, then they should post it in the investor information section. If it is going to be secret, that is not good. there is no way to track dilution.
can't we just check with the transfer agent?
hopefully, catherine will use the money to complete the reports for the sec and put out a pr about that project she mentioned back in March.
if nothing else, they should get first prize for the most pr's in a week.
I agree . anything's possible.
probably missed the boat.
has anyone checked with the transfer agent recently? I would assume that Catherine is smart enough to wait until she has some really good news before she begins her normal selling activities.
boy, where is your microscope. What price is rising?
you do have to wonder where they are raising their cash. has anyone checked on the outstanding shares lately?
who is PV? explain.
try "hose filter"
that's great ... thanks.
it appears that alot of shares are being sold into the market ... it would be interesting to see if the outstanding share figures are increasing ... the company could be selling into this demand to raise money ... just a thought ... jmo
"If the Final Principal Amount Conditions are met, the shareholders of Enhance will have the option to repurchase the 1,500 shares of common stock of Enhance for $5,000,000 in cash and the cancellation of the Note."
Does this mean that Enhance terminates the purchase agreement and becomes independent of Numobile?