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Hugh sell order...Get out now..
The shorts dont want to cover at any price. Short do not have to cover at zero.
A very large 547K bid @.07 and .08 peaked my interest today.
The big question is, will the warrants be in the money or out of the money? tick tock tick tock.
High Noon!! July 17, 2017 at noon Central Standard Time.
Why should I? 99% chance the stock could be halted at any time now and made worthless.
SSsshhh! Let them wait..It shows how smart they are.
I think it was a pump-n-dump.
Shorts are still waiting for zero so they will not be covering anytime soon. GLTYA
Do you really want to take a chance on a BK company?
Delisting after the close?
There will be an American Airlines like deal with the common shareholders.
Whoa! looks like the party is finally over. Heavy, heavy sell volume!
Yes but that 300,000+ at the eod was a big sell according to the trade data.
This is not looking good..Obama just signed a Bristol bay protection order for oil and gas.I highly doubt this company will win against the powerful EPA. From everything I have read, no one wants the mine built. The company should just take the lost and give up.
I'm still trying to figure out what the deal is with all the basket buys over the last few weeks.
yeah but what does it mean for the shareholder, more dillution.
I'm looking to get back in at .105
It was fun while it lasted.
Im out..Too much dilution. The news hit early Friday and the stock did not move.
It's a long shot. They will have to get the money first. I guess we will see.
I've been watching big blocks go by on L2 but I can't confirm if it's legit or a pump and dump. I will get in on a pullback @ .06.
What made you buy it? You do know the company is in BK, right?
Did you catch the new CEO salary?
12. Additional Requirements at the Closing. Effective from and after the Closing, Buyer and Anthony Mason will enter into an Employment Agreement wherein Anthony Mason (“Employee”) will be employed on a full time basis as the President and Chief Executive Officer of Buyer. The Employment Agreement shall be on the standard form used by Buyer for other members of management and shall contain the following terms:
a. The term shall be three years with a right to terminate earlier upon the payment of a one-year break-up fee;
b. The salary shall be $25,000 per month, escalating to $35,000 per month on achieving 2,000 BOEPD and $45,000 per month on achieving 4,000 BOEPD ;
c. As soon as practical following Closing, Buyer will provide Employee medical and dental insurance available through the professional employer organization (“POE”) used by Buyer;
d. Employee will be granted options to purchase up to 3,000,000 shares of common stock of Buyer under the terms of Buyer’s Amended and Restated 2010 Incentive Stock Option Plan with vesting under the standard employee basis at a price determined by the Compensation Committee of the Board or by the Board of Directors no earlier than ten days prior to the Closing;
e. Employee shall be elected to serve on the Board of Directors for the term and in the manner set forth in the Bylaws of Buyer.
OK 1man, I've done some DD on the latest acquisition agreement and I have found that it is the real deal. This is the only deal from Paxton that I could track that is really close to production.
In order for you to track the value you will have to start with one of the partners here: www.silvermere-energy.com.
http://oilbarrel.com/media/pub/var/release_downloadable_file/32848.pdf
Google: Mustang Island 818-L Lease I-1 well.
I dont want to give away to much because I plan to start accumulating the stock again early next week.
DON'T BUY IT. I sold all of mine last week. The company is always making deals but no oil drilling still. They did not even say how much of a reserve is in the ground in the PR. Stay away from this one.
I think this company is a fake. How can they purchase 50% of Black Sands for $3 million when they can not even come up with 500k
I saw that 620K on my ameritrade level II but I couldn't tell if it was a buy or a sell. Volume has be picking up for the last two months now.
Volume has been picking up lately.
Anyone knows how this company is going to pay for this transaction with a .045 stock price and no cash.
Most of the volume happened in the last hour. this could be it.
Appointment of Paul Jordan
Effective June 7, 2011, the Board of Directors (the “Board”) of Paxton Energy, Inc. (the “Company”) appointed Paul A. Jordan to the Board. Since January 2010, Mr. Jordan has been the Managing Principal of NP3 LLC, a Littleton, Colorado-based financial and natural resource advisory company. Between July 2007 and December 2010, Mr. Jordan was the Executive Vice President of Willsource Enterprise, LLC, a Denver, Colorado-based oil and gas exploration and production company. Between July 2004 and July 2007, Mr. Jordan was the Director of Sowell Capital Management LP, a Boston-based private investment firm with $2 billion in assets under management. Previously, Mr. Jordan was an investment professional with Harvard Management Company, a Vice President and Portfolio Manager – Oil and Gas for GE Capital Structured Finance Group, an Executive Director at CIBC World Markets and a Senior Petroleum Engineer for BHP Petroleum (Americas) Inc. and Petro-Lewis Corporation. Mr. Jordan holds a Masters Degree in Business Administration from the Wharton School of Business at the University of Pennsylvania and a Bachelor of Science Degree in Petroleum Engineering from the Montana College of Mineral Science and Technology.
The Company agreed to pay Mr. Jordan cash compensation of $2,000 per month and to grant Mr. Jordan options to purchase 1,000,000 shares of the Company’s common stock, of which options to purchase 333,333 shares vested on June 7, 2011 and the remaining options to purchase 666,667 shares will vest on a pro rata basis over the next twenty-four months (options to purchase approximately 27,777 shares vest each month).
There are no arrangements or understandings between Mr. Jordan and any other person pursuant to which he was selected to serve on the Board. There are no relationships between Mr. Jordan and the Company that would require disclosure under Item 404(a) of Regulation S-K.
Appointment of Robert Smith
Effective June 15, 2011, the Board appointed Robert Fulton Smith, Jr. as the Company’s President. Currently, Mr. Smith is also President and Chief Executive Officer of Virgin Oil Company, Inc. and Virgin Offshore USA, Inc. Mr. Smith began his career in the oil and gas industry as a petroleum landman at New Orleans-based Exchange Oil & Gas and then Exxon Corporation. He joined a South Louisiana land and mineral company to form an exploration and production division in 1980, serving as head-landman. After opening exploration offices in Denver, Colorado and starting a Rocky Mountain drilling program, operating the drilling of 18 wells in 1980 and 1981 in Colorado, Wyoming and North Dakota, he resigned his position in 1981 to form Vermilion Energy Company, to focus on lease and drilling opportunities in South Louisiana. In 1988, while serving as Chairman and Chief Executive Officer, he took the company public on the London Stock Exchange, and changed the name to Alliance Resources, P.L.C., an oil and natural gas exploration and production entity based in London. He subsequently sold his interests in the company when it became part of a consolidation in 1993. For two years, he consulted in the U.K. to an energy development group providing feed-stock fuel for electricity generation. In 1996, he formed Virgin Oil Company to pursue overseas exploration opportunities in China and to participate in opportunities in the U.S. Gulf Coast and Gulf of Mexico. Virgin Oil Company sold its China operations in 2001 and focused on the Gulf of Mexico outer continental shelf under its wholly owned subsidiary, Virgin Offshore USA, Inc. Mr. Smith has since remained Chairman and CEO of both Virgin Oil and Virgin Offshore Companies. Mr. Smith earned a degree in Business Administration in Economics from Loyola University, and he participated in post graduate studies in Management at Harvard Business School. He is an active member and past director of the Independent Petroleum Association of America and of the American Association of Petroleum Landmen, and serves as a director of several private companies and charitable organizations.