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yeah. I'm was asking myself the same question ealier this afternoon.
I guess we should assume 10 bidness days @ the minimum.
Aye, Aye Captain TB
Requesting permission to board the ship.
For what it is worth....I spoke w/ Mr. Westmoreland yesterday & he said he expected "the loan to close within 8-10 days".
Mav,
I have been through most of your points w/ DS.
My understanding, through his posts, is that the pps is to be determined mainly on the performance/production of the company & execution of the stated business plan....& then the pps will be decided by the external market forces/perceptions/interpretations of that performance.
I believe that I am coming from the same camp as you....there is a lot of oil in the ground within these leases that seems to be pretty well documented & agreed to by industry experts reading of those seismos & that the potential of these leases should be leveraged by introducing/announcing that potential into the investment markets.
Maybe DS believes that it is unethical to promote a Jr. oil & exploration company beyond what is released in qtrly & annual reports.
It is just 2 different schools of thought.
Peace DS...I do respect your position
RS,
I am sure that this is a #1 priority for the new BOD as it effects so many issues w/ the SH's.
Be patient, this is a daunting task. This isin't as simple as making a single phone call.
of course IMO
Great information & very succinct.
Let's see if we can get a PR based on this data.
DS,
Thank you for your detailed response. I am sure you are spot on all of your points.
My point is that I can recall more than one PR put out by Jr Oil exploration companies putting out seismo info & possible reserves..or OOIP as you call it. They are always protected w/ the safe harbor disclaimer.
To get off of the seismo stuph....Frankly I get lost when trying to keep up w/ producing wells & drilling prospects. The map on the web site shows a single clip art of an oil derrick situated in Kern County somewhere. They do put into text descriptions of the wells & prospects but I am still lost...maybe its me...but I just can't connect the dots to get the possibilities or the entire Kern county picture
I am w/ you, I truly admire the fact that Westmoreland & Lindsey are true oil industry professionals & well respected within the industry & there approach is truly conservative. And that does make me confident in my investment. But dbrm appears to be, up to this point a to a hobby w/ the BOD
& the fact that can secure a loan w/ a decent interest rate that is 70% of the market cap of the company is very impressive. There has to be some data points within their presentation to the company that is putting up the $3.5m that can be put out for public knowledge.
But we need some more communication that their master plan or roadmap is developing. I am not asking for some big time claims, I just think that the investment community should be aware of this Jr. exploration entity has a very good batting average on drill prospects and is successfully pumping oil & working its way to positive cash flow. And that there is plenty of acres that will provide plenty drilling opportunities...could we get some kind of a quantitive estimate?
I was hoping that the IR person in Illinois could get things moving in that direction...but to date the only effort that I have seen from him is the Caesars Report ...that did not do didilly squat for the pps
Nice set of #s...I think it is a little conservative, but we have got to start somewhere.
The current PE for copper is 19 & change. But that is for the entire copper industry that includes smelting and finished end products mfg's
http://biz.yahoo.com/ic/131.html
It is hard to peg a PE for copper mining because most of them are off shore or giant conglomerates like Kennocott.
The market may take a shining to an upstart independent for a higher PE.
But I am getting ahead of myself...lets get DTC & chap 11 issues cleared
of course IMO
Wow Rich...you got some balls
I would be very suspect of a newspaper (objective I presume) that would help you to solicit funds for eshc
I am all for coming out of chapt 11 w/ the new BOD and producing coppercon..& other minerals...but if IHub will not you solicit for funds....why would a newspaper do that?
Thanks DS
Go ahead Web....take your shots cprk is an ez target, @ the moment.
However, your unsolicited wisdom is hollow in that very few people can get into this because there are very few brokers allowing buys.
It will be interesting seeing how far "north".. actually is
Well there you have it,a PR from an unofficial 3rd channel posted on an internet BB.
I just think it would be good to hear from the company of current events and past successes.
Does anybody out there know what each well or a composite of all the wells produce on a daily or monthly basis?
If it is buried in the qtrly or annual reports...I sure as heck have not found it.
I was once told by a source that seems to have accurate info on dbrm that the current seismo they are working was estimated by dbrm personnel to have 25 m barrels throughout the sands that they are currently drilling & that Chevron estimated it to be 60 m barrels.
I believe that would be good information to make public.
DJR,
I will address you point re: the current pps.
This stock is a very risky issue; I mean the Q within the ticker should vividly tell you that. That is why the pps is .0017 and to say the pps is fluid, is an understatement.
But along with that level of risk is the probably/possibility of a healthy financial gain.
As for the solicitation from some members for a defense fund; I threw a few thousands bucks into this originally & a few thousand a 2nd time....so I figure a few more bucks into the defense to derail the JBOD & the insertion of a new BOD is worth it.
Kinda like insurance @ the blackjack table @ the casino. Face it any penny stock is a gamble.
of course...IMO
Well, a PR was released on June 21st of a $3.5 loan....then it was announced on July 8th there was a 1 week extension.
Now it is 2 weeks beyond the extension & no news?
I really believe that this company has a problem of communicating w/ its share holders.
The IR person in Illinois is useless. I have seen nothing from him that positively moves the pps. He also is very condescending in my phone conversations w/ him.
well said Chuck
Someone..somewhere has the mailing addresses of the 6700.
We can use that media to continue support the eshc, if needed.
I don't know about this kharma thing you speak of..but....in my neighborhood it is; "what goes around, comes around"
You guys got my 50 bucks earlier this afternoon
I spoke w/ Jim Westmoreland earlier today, re: the $3.5m loan.
He told me that the loan would close later this week & that he sees no objects in the way of the loan closing this week.
That is a splendid idea, mate.
Does anyone here know if the $3.5m financing has closed?
The last PR said they were to close on Friday the 8th.
And I dont think I should have to call the CEO to find out.
If they have closed on the loan....shouldn't that be worthy of a PR?
sorry...the send button is a longer delay than my patience permits
I cant imagine a judge that would not approve the BOD new seating if there wasnt a viable POR that included LTF.
of course IMO
You know,
A good trifecta would be an announcement of POR w/ LTF; trading bans lifted by all brokerage houses & of course the Shareholder successful vote to reseat the BOD.
Then later, the mill booting up.....but I think I am getting ahead of myself
of course IMO
Birdman,
I commend you on your individual effort to help the pps & I respect you for that.
But that effort should be put forth by the dbrm CEO, BOD & the investor relations entities.
As Mav has posted previously, there seems to be no regard or effort in maximizing the pps by the BOD, CEO or IR people
Well said, Mav
Amen brother Mav
MickeyB,
There have been a few posts previously with the same type of proposition, asking for some form of govt assistance or support in various forms.
And though it your question is quite logical, once you step back & look, there are 2 points to consider.
Do you remember all the recent flack w/ TARP bailout of the Wall St financial houses that were teetering on failure?
And we all know that politicians only want to get involved if there is a ribbon cutting ceremony with photo opps. I am sure once cprk gets through the chapt 11 process, there will be plenty of interest & support from the state & local politicians.
of course IMO
I would rather see the price well above $.1 b4 we want to see a suitor, domestic or foreign.
@ $.003 is way too cheap to court a possible suitor.
of course, IMO
Yo plain,
Why do you think that $14m is an impossible amount of money to raise?
$14m is a mere pittance as compare to the money that is waiting to get into this venture once all the negotiations & agreements are in place.
It is very simple proposition; what is the value of the ore in the ground as compared to the $s it takes to get all issues of debt(s) satisfied.
After that the drama is extracting the ore out of the ground & then having the mill produce the proper concentrate & then shipping it to the smelter.
of course IMO
Yo Gold,
If you are trying to tell me that this is an "if-come" & risky proposition...I know all of that, as I have previously admitted in previous posts on this board...please spare me your predictions of doom & I will overlook your spellig errors
rap on brother gold
The latest P/E on industrial metals is 27.6...based on that if cprk(q)can get to .01 per share earnings...we are there dude
IMO
Sky,
1st of all, a shore is where a land mass meets any body of water.
Yo Sky,
Why is it that you & others on this board believe that the total amount of cprk's debt, what ever that figure is, must be paid in full b4 operations commence & shipments of concentrate happens?
I would hazard to guess that if JB has any stocks, warrants, options or the like, they will have restrictions.
Does anyone on this board know what the daily production is on these wells on the eastern slopes?
ok,
Fox News that explains it all. Probably the Bill O'Reily "no Spin zone" show?
Richard,
What is the equation that you have, to arivve @ your posting?
billyboy,
I have never heard a more compelling argument for new management @ cprk
And like it or not, MS & current crew are the new management , for the time being.
You know, this stock was a $3.00 stock...I think it actually hit $3.15.
You are absolutely correct..there are some Jr. exploration companies on the market that only have leases of acreage & give a only a reserve estimate..no wells pumping...no wells drilling...just leased acres & some blue smoke & they are trading @ $1.00 & beyond.
This really is a sleeper...we just need a little investor relations to get to a price pt that represents a small Jr elplore company w/ a major partner ...Chevron...& leases in fields next Oxy Pet that are currently pumping very respectable BOD.