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Does this company have any assets ?
Yes thanksforplaying, they have No MONEY ... no balance sheet etc...etc.
typical pinkshxxt
at least you guys are aware.
Thanksforplaying Thursday, May 30, 2013 11:35:03 PM
Re: None Post # of 2078
Just read their presentation on their website. Says it wiil cost 5mil to drill this hole. Where are they gettinng the moey to pay for this?
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joepcf Friday, May 31, 2013 7:26:47 AM
Re: Thanksforplaying post# 2073 Post # of 2078
They are ALWAYS raising money...
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DukeOBass Friday, May 31, 2013 6:17:41 PM
Re: joepcf post# 2072 Post # of 2078
They had a reverse split a year or so back. I need $17/share to get any money out of this. Pitiful!
I kept seeing promise and look what I got.
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joepcf Friday, May 31, 2013 6:29:22 PM
Re: DukeOBass post# 2076 Post # of 2078
The only promise Im willing to make is they will run this and then dump the hell out of it.
lol ... he does have an atf hat on....
LOL ...
LOL , anything pumped this hard , sued last year buy promoted working interest owners, non reporting and no cash,.... and ran by the 'son" of the original promoter ??? get a clue....
If the old leases with the dry hole well bores are still in effect, why not LLyod just shut e'm down, wait a while like he's done,a make an assignment to a new entity , and JV what good leases are left with someone else and be done with this flea bag entity ? he walks clean , keeps the minerals in the new JV entity, and the oustanding worthless stock paper and corp. liabilities.... goes away ?
geo, I am in the industry , and you just said "SIOR is sitting on 20 million barrels of proven reserves. Reserves that Sandridge & Chesapeake claim are the most economical reserves to access in North America. If an investor wanted to put their money in crude futures & walk away, SIOR is place to put it.."
Based on what ? .....a promoter's tout ? ...
in your previous posts you said you were in the industry too and then you said you were looking things up in books ?
So geopressure, you are telling people that you are in the industry and that the leases had 5 year primary terms, and are still in the companies name, and that they should buy this stock, is that correct ? ?
geopressure Friday, February 10, 2012 1:14:16 PM
Re: None Post # of 4595
I don't have any dates... It's not one or two big leases, but more likely hundreds of small leases that all have varying terms & all went i to effect on varying dates... So far as the options go, I don't know if the options can be extended, options are rare from my experience... I bought a bunch of textbooks on Petroleum Mineral Leasing & none of them mention options - I guess that it's just whatever SIOR's lawyer got the landowner's lawyer to agree to...
If your in the industry, why did you need to buy a " bunch of textbooks" ?
I have been leasing O & G property since 1979. Tell me all about it.
How many mississippian acres does SIOR have documented [<linked> filing] ownership in ?
How many mississippian acres does SIOR have documented [<linked> filing] ownership in ?
NONE ... No replies ? Has anyone called the attorney with Legal liability who is supposed to sitting on the Board ???
< geoP; Do we have any information on when the original leases were started? I assume that the 5 year extension on the leases will require a cash payment to owner(s) of the land. I believe that the situation for the options is similar. They must be periodically renewed, which requires more cash. If the company is diluting to obtain funds for this purpose, it would not bother me one bit. Any info you have on the due dates of the the above events would be appreciated.
Respond | No replies >
Lee, I think I have an insight into what you may mean, <?>.... but the complexity is getting overwhelming,, I have to regress to what I know sometimes, " adaptability is the key to survival" and hence flourishing
We need one of these to carry ammo, or patrol the perimeter...
Thats fine. I guess I just need someone to show me the link where they have the leases.. haven't found it in their filings yet...Thanks in advance.
The SEC filing in 2006... it walks like a duck,In 2006 we entered into a joint venture agreement with The Weiss Family Trust and its representative, Sam Guttman, both of the New York City area (hereinafter “Guttman/Weiss”), with regard to Guttman /Weiss investing in the drilling of oil and gas wells being promoted by our company. Initially, two wells were drilled in Oklahoma with our company being the operator of the wells and being “carried” by Guttman/Weiss for a half interest in whatever ownership portion of the wells that Guttman/Weiss agreed to pay for. The two wells were drilled and did encounter oil and gas in what appeared to be commercial quantities but were not successfully completed as producing wells. These initial efforts were followed by the drilling of three other wells in Logan County, Oklahoma under the same terms – we were carried for a half interest in the ownership portion of the wells that Guttman/Weiss agreed to pay for – and the results of which were encouraging, but the wells were not completed as producing wells in commercial quantities.
Relations between our company and Guttman/Weiss deteriorated during this extended period of poor results. Ultimately, Guttman/Weiss had invested approximately $8 million in the wells and in the acquisition of additional oil and gas leases and claimed that we had applied some of the funds to purposes other than expenses on the wells and that we had violated several provisions of the Federal and State securities laws. We denied all allegations and alleged that Guttman/Weiss had not fully paid us for its and our interests in the wells.
We settled the controversy. Guttman/Weiss released us from all alleged liabilities and agreed to pay us approximately $100,000 to pay certain current liabilities. We also agreed to issue to Guttman/Weiss 140 million shares of our common stock in exchange for a half interest in Guttman/Weiss’s interest in the three wells that had been drilled in Logan County, and both parties agreed that our company could amend its Articles of Incorporation to increase its authorized capital to (i) 500 million shares of Common Stock, par value $0.001, and (ii) 100 million shares of Preferred Stock, par value $0.001, of which 10 million of the 100 million shares of Preferred Stock would be designated as Series A Voting, Convertible Preferred Stock and have as attributes (i) the right to cast 14 votes for each issued share, (ii) the right at any time to convert each share into 14 shares of Common Stock and (iii) the same rights as Common Stock in every other particular. Finally, the parties agreed that Superior’s directors should authorize the issuance of the 10 million shares of Series A Votin... etc.
So geopressure, you are telling people that you are in the industry and that the leases had 5 year primary terms, and are still in the companies name, based on your DD, and that they should buy this stock, is that correct ? ?
geopressure Friday, February 10, 2012 1:14:16 PM
Re: None Post # of 4595
I don't have any dates... It's not one or two big leases, but more likely hundreds of small leases that all have varying terms & all went i to effect on varying dates... So far as the options go, I don't know if the options can be extended, options are rare from my experience... I bought a bunch of textbooks on Petroleum Mineral Leasing & none of them mention options - I guess that it's just whatever SIOR's lawyer got the landowner's lawyer to agree to...
If your in the industry, why did you need to buy a " bunch of textbooks" ?
just curious ...
I have been in the industry, primary terms are generally 3 +2 yr extensions.
These old leases may or may not have any life in the primary term left.
The old well bores on the leases do NOT Hold them unless there is production, and /or pooling/pugh clauses, and /or or the lease holder pays the extension bonus.....
It would be interesting to even know if the leases were originally taken in the companies name or in Lloyds name and then assigned to the shell company. Was all assigned or was there a hold back to the company and the original lessor?
when i have time I will call the proposed attorney who is supposed to be on the BOD, but I would presume he is actually not on the BOD yet as the liability and fiduciary duty to him would be great before , or unless the security law filings and/or financial statements on this shell co are filed and up to date. just my un-validated opinions. I would implore you to not make any investment decisions based on my writings or on any unverified opinion on a blogging message board.
Lawyers and liability, .......where is the revenue from the producing leases, and if they are not producing how are they still holding any acreage , the crowe and dunlevy attorney should be aware of the risk and liability of his Board Fiduciary duties and responsibilities if he is actually on the board et al , so a phone call to him would be telling, or a denial .... ?
this is a critical question: are the dry holes still holding the non productive leases...? The ones wiess sued over, if so, how do we know it, most lease terms were 3 years, and if they were not productive, then the leases were not held by production and expired... ? I do not know.
Thanks for the reply. The Crowe and Dunlevey (sp) attorney, did he ever join the BOD ?
Heard anything ? are the dry holes still holding the non productive leases...?
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14C
Information Statement Pursuant to Section 14(c)
Of the Securities Exchange Act of 1934
INFORMATION STATEMENT
SUPERIOR OIL AND GAS CO.
844 South Walbaum Road
Calumet, Ok 73014
405-884-2080
Summary Term Sheet
Superior Oil and Gas Co. proposes to amend its Articles of Incorporation (i) to increase the number of shares of its authorized Common Stock from 200 million shares of Common Stock to 500 million shares of Common Stock, (ii) to authorize the issuance of 100 million shares of Preferred Stock, par value $0.001 a share, and (iii) to designate a Series A Voting, Convertible Preferred Stock, consisting of 10 million shares, each share of which has the right to cast 14 votes, the right at any time to convert each share into 14 shares of Common Stock and the same rights as Common Stock in every other particular.
Such an amendment must have the approval of the shareholders. Under Nevada law, such shareholder approval can be given by either of the following methods:
·
At a duly-called shareholders’ meeting at which a quorum is present, by an approving vote by shareholders casting a majority of votes cast at the meeting either in person or by proxy, or
·
Without a meeting, by the written approval of the amendment by the holders of shares that represent a majority of the votes that could be cast by all outstanding shares of voting stock – the method we have chosen.
Management has obtained the written approval of shareholders that hold a majority of the outstanding shares of common stock to approve the amendment to our articles of incorporation without a shareholders’ meeting.
Regulations of the U.S. Securities and Exchange Commission (the “Commission”) require that we transmit an Information Statement containing certain specified information to every holder of our capital stock that is entitled to vote or give an authorization with regard to any matter to be acted upon by shareholders and from whom proxy authorization is not solicited. This Information Statement must be mailed at least 20 calendar days prior to the earliest date on which the corporate action may be taken. This Information Statement is being mailed on or about February 13, 2011 to our stockholders of record of January 31, 2011.
We Are Not Asking You For a Proxy, and You Are Requested Not To Send Us a Proxy.
1
Increase of Capital Stock Authorization Information
We currently have one class of authorized voting stock:
·
Common Stock, par value $0.001, 200 million shares of which there are 199,700,000 shares outstanding. Each outstanding share has one vote on all matters submitted to the shareholders for a vote.
The Common Stock does not have cumulative voting or preemption rights. Holders of the stock are entitled to receive dividends when and if dividends are authorized by the directors.
Reasons for engaging in the transaction .
In 2006 we entered into a joint venture agreement with The Weiss Family Trust and its representative, Sam Guttman, both of the New York City area (hereinafter “Guttman/Weiss”), with regard to Guttman /Weiss investing in the drilling of oil and gas wells being promoted by our company. Initially, two wells were drilled in Oklahoma with our company being the operator of the wells and being “carried” by Guttman/Weiss for a half interest in whatever ownership portion of the wells that Guttman/Weiss agreed to pay for. The two wells were drilled and did encounter oil and gas in what appeared to be commercial quantities but were not successfully completed as producing wells. These initial efforts were followed by the drilling of three other wells in Logan County, Oklahoma under the same terms – we were carried for a half interest in the ownership portion of the wells that Guttman/Weiss agreed to pay for – and the results of which were encouraging, but the wells were not completed as producing wells in commercial quantities.
Relations between our company and Guttman/Weiss deteriorated during this extended period of poor results. Ultimately, Guttman/Weiss had invested approximately $8 million in the wells and in the acquisition of additional oil and gas leases and claimed that we had applied some of the funds to purposes other than expenses on the wells and that we had violated several provisions of the Federal and State securities laws. We denied all allegations and alleged that Guttman/Weiss had not fully paid us for its and our interests in the wells.
We settled the controversy. Guttman/Weiss released us from all alleged liabilities and agreed to pay us approximately $100,000 to pay certain current liabilities. We also agreed to issue to Guttman/Weiss 140 million shares of our common stock in exchange for a half interest in Guttman/Weiss’s interest in the three wells that had been drilled in Logan County, and both parties agreed that our company could amend its Articles of Incorporation to increase its authorized capital to (i) 500 million shares of Common Stock, par value $0.001, and (ii) 100 million shares of Preferred Stock, par value $0.001, of which 10 million of the 100 million shares of Preferred Stock would be designated as Series A Voting, Convertible Preferred Stock and have as attributes (i) the right to cast 14 votes for each issued share, (ii) the right at any time to convert each share into 14 shares of Common Stock and (iii) the same rights as Common Stock in every other particular. Finally, the parties agreed that Superior’s directors should authorize the issuance of the 10 million shares of Series A Voting, Convertible Preferred Stock to the corporation’s management and some of its present and past employees, agents and consultants who had performed valuable services for the corporation over the years without the expectation of payment for their unbooked services, due to the corporation’s lack of resources with which to make any payment. The value of the services performed by the individuals that will receive the 10 million shares of Series A Voting Convertible Preferred Stock will be determined by the directors at the time these shares are issued, and the shares will be valued at the last bid price of the common stock into which the Preferred shares may be converted.
2
With regard to the remaining 90 million shares of Preferred Stock to be authorized for issuance, no further authorization by the shareholders need be obtained. The terms of the creation of additional Series of the Preferred shares, including dividends or interest rates, conversion prices, voting rights, redemption prices, maturity dates and similar matters will be determined by the board of directors.
The provisions concerning the Company’s issuance of 140 million shares of Common Stock to Guttman/Weiss in exchange for a half interest in Guttman/Weiss’s interest in three wells and amending the company’s Articles of Incorporation to authorize the issuance of 100 million shares of Preferred Stock, of which 10 million shares would be issued to our company’s management and certain other agents as payment for unbooked compensation for prior services, reflect the desire of the parties that the composition and continuation of our current management and certain of its agents not be threatened by a possible change of control of the corporation by reason of the issuance of the 140 million shares of Common Stock to Guttman/Weiss. No determination has been made by the directors concerning the identification of the persons to whom distribution of the Series A Voting, Convertible Preferred Stock might be made or the amounts thereof.
Finally, we deem it prudent, at this time, to increase the number of authorized shares of Common Stock to a figure sufficient not only to enable all holders of our Series A Voting, Convertible Preferred Stock to convert their shares to shares of Common Stock, but sufficient to enable our directors in the future to consider possible acquisitions of properties or interests in other companies in exchange for shares of our Common Stock. However, we have no current plans, intentions, or arrangements to engage in an acquisition.
Should the proposed amendment be effected, the effect on existing shareholders would be dilutive in the sense that they would own a smaller percentage of the outstanding shares of our stock. However, such an issuance would not necessarily be dilutive in an economic sense, as the assets or companies acquired could conceivably produce operating results better for each issued share of stock than have been obtained so far.
The increase of authorized capital from 200 million shares to 500 million shares of Common Stock will have an anti-takeover effect. It would provide the directors with the ability to counter any takeover offer by increasing the number of outstanding shares through immediate sales of authorized but not-yet-issued shares. Such an increase could lessen the impact of a tender offer, by denying the offeror of the ability to purchase a voting majority of the outstanding shares. This could work to the disadvantage of existing shareholders, as takeover offers are made at per-share prices that are higher than prevailing market share prices.
3
Voting Securities and Principal Holders Thereof
On January 31, 2011 there were outstanding 199,700,000 shares of our authorized 200,000,000 shares of Common Stock, This Information Statement is being sent to the January 31, 2011 record holders of our Common Stock. Members of our management that hold 12,250,000 shares of our Common Stock together with Guttman/Weiss who own 140 million shares of our Common Stock have given their written consent to the amendment. This represents 76 percent of the shares outstanding, well in excess of the bare majority needed to approve the amendment to our Articles of Incorporation without a shareholders’ meeting.
The table below sets forth, as of January 31 2010, the number of shares of our Common Stock beneficially owned by each officer and director of Superior Oil and Gas Co. individually and as a group, and by each owner of more than five percent of the Common Stock.
Name and Address of
Beneficial Owner
Shares of Common
Stock Owned
Percentage of
Total Shares Owned
Gayla McCoy
844 South Walbaum Road
Calumet, OK 73014
4,500,000
2.25
Bill Sparks
P.O. Box 14428
Oklahoma City, OK 73113
1,300,000
0.65
W.R. Lott III
107 Fulton Street
Greenwood, MS 38935
950,000
0.48
Dan Lloyd, Jr.
844 South Walbaum Road
Calumet, OK 73014
5,500,000
2.75
Thomas Becker
11108 N.W. 115 Street
Yukon, OK 73099
3,290,407
1.65
Sam Guttman
39,000,000
19.53
Weiss Family Trust
101,000,000
50.58
Officers and Directors
as a Group (5 persons)
12,250,000
6.13
4
Changes in Control
The proposed increase in the number of shares of our Common Stock is not expected to result in a change of control of the corporation. On March 23, 2010 Guttman/ Weiss agreed that, in order to maintain a balance in the voting power of the parties, in consideration of Superior’s agreeing to order the issuance of the 140 million shares of Common Stock to Guttman/Weiss before the Articles of Incorporation have been amended to authorize the issuance of 100 million shares of Preferred Stock and before the 10 million shares of the Series A Voting, Convertible Stock have been issued, Guttman/Weiss will exercise the voting of its shares of Common Stock only in a manner consistent with the written, informed directions of Superior Oil and Gas Co.’s management.
Dissenters’ right of appraisal. Shareholders that disapprove of the proposed amendments have no rights of appraisal or similar rights of dissenters with regard to the above amendments to our Articles of Incorporation.
Financial Statements and
Management’s Discussion and Analysis of Financial
Condition and Results of Operations
Report of Independent Registered Public Accounting Firm
7
Balance Sheets at December 31, 2009 and 2008
8
Statements of Operations for the Years Ended
December 31, 2009 and 2008
9
Statement of Changes in Stockholders’ Deficits for the Years Ended
December 31, 2009 and 2008
10
Statements of Cash Flows for the Years Ended
December 31, 2009 and 2008
11
Notes to Financial Statements
12
Management’s Discussion and Analysis of Financial Condition and Results
of Operations
22
Balance Sheets September 30, 2010 and December 31, 2009 (Unaudited)
26
Statements of Operations for the Three Months and Nine Months Ended
September 30, 2010 and 2009 (Unaudited)
27
Statements of Cash Flows for the Nine Months Ended
September 30, 2010 and 2009 (Unaudited)
28
Notes to Financial Statements
29
Management’s Discussion and Analysis of Financial Condition and Results
of Operations
Results of Operations – First Three and Nine Months
Ended September 30, 2010 Compared to the Three and Nine
Months Ended September 30, 2009
33
5
Changes In and Disagreements with Accountants
During the periods disclosed in the foregoing financial statements, there have been no disagreements with the company’s accountants on accounting and financial disclosure.
6
Merry Christmas !, all.
regarding your topic, I just wish mine were used more often.....
I talked recently with this fellow, nice guy. http://knowhunting.com/huntphilosophy.html
LOL <Obama Wants Tougher Penalties For Wall Street Firms> does that include solar financing scams too ???
Makes good sense ! . Praise the Lord !
brightness you still out there ?
It ought to be interesting as the epic continues.
obviously you chart it,
I'm buying it because its worth 25 in 24 to 36 months.
200% Return will put us at about $ 15 a share in 12 months. Is there anywhere else that we can make 300% return in 12 months?,,
maybe 18 months, give or take.
SD, the most undervalued stock on the NYSE
Time to buy. eom.
Quote: Rumors of a potential downgrade started swirling through the financial markets on Friday morning, causing stocks to fall sharply. Although Moody’s and Fitch had affirmed the government’s AAA rating late Tuesday afternoon, S.& P. was silent.
But around 1:30 p.m on Friday, S.& P. sent a memorandum outlining its preliminary position, including specific figures underscoring their argument for a downgrade. Treasury officials were told that S.& P. planned to make its announcement after 4 p.m., when the stock market closes, according to two administration officials.
Did Moodys keep AAA ?
Nothing to do with Obama or his brother's guards,
Ruger is coming out with a new pistol in honor of Senators and Congressmen.
It will be named the Congressman.
It doesnt work and you cant fire it.
well its been a year , what happens now ?
Do you think we may be forming a trough and slowing bottoming in the overall economy ? looking for rays of hope ....
Some day I hope to be able to do the same. What area did you grace with your presence ?
With all the cash flow from existing wells coming in at '2 a day' , this 690 million gets them funded for 2012.
We should have close to 1 Billion a year cash flow on going by 2013. Funding was really never an issue, when you have the co- founder of CHK and several JV partners knocking at your door every month anayway.
I wish they would let me in the deals as a JV partner.
Much cheaper costs and better returns than Bakken, Eagleford, or Marcellus.
I have personally talked with WARD. Fundamentally including the debt schedule with an average maturity of 7 1/2 years and the amount of new Oil flow we have in the bag, and funding offers coming from diverse places, I see Sandridge over 20 in 2 to 4 quarters.
I can not find a better actual long o&g stock to buy.
I have no opinion on trading it.