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My god do people still believe in this stock after all this time.
Thankyou Jersey for addressing the questions. The sooner they sign on the dotted line the better.i think.
How soon can we begin to trade when papers are signed? Will the company tell us what the company has been doing during the years they have not been trading? Do we get to see the financials sometime soon? Is there any more hurdles to jump after the papers are signed for the two companies to merge? What sort of time frame are we looking at before they rise from the ashes as a newborn entity?
for $52000 per year i would tell her to forget university and invest in precious metals. Within 5 yrs she will have enough to retire on and probably be able to buy a degree if it means so much to her.
We will be still talking about a R/M a year from now. Nothing will change in my opinion. I am still holding because it gives me something new to read now and again. I doubt seriously this will ever trade again. Here is a stock that will get some of your money back,TWDIF. No luck needed here. I can see it getting bought out within a year or two.
They need to resolve their debenture issue fast.
There is always a market for clean shells. People are willing to take a chance on them hoping to attract a good merger possibility.
Will it happen before the end of January,Jersey,or is Gil still sipping pina coladas out there.
Curry county location:-
http://en.wikipedia.org/wiki/File:Map_of_New_Mexico_highlighting_Curry_County.svg
Here's more :-
Dec 15, 2010 (Close-Up Media via COMTEX) --
Energen Corp. announced that its oil and gas exploration and production company, Energen Resources Corp., has purchased 40,000 acres in the Permian Basin from SandRidge Energy Inc. for $110 million plus standard closing adjustments.
Based on 320-acre spacing, the company has identified 62 net potential drilling locations in the 3rd Bone Spring play on 21,300 net acres in Loving, Reeves, Ward, and Winkler counties; this acreage is in the heart of Bone Spring play. Unproved Bone Spring reserves (net unrisked) are estimated to exceed 21 million barrels of oil equivalents (MMBOE); oil comprises 78 percent and natural gas the remaining 22 percent. The company expects to invest approximately $465 million to develop the Bone Spring potential in this acreage acquisition.
"This is an exciting purchase for us," said James McManus, chairman and chief executive officer of Energen. "Not only does it provide additional acreage that we were seeking in order to expand our Bone Spring activity, it offers upside potential in the Avalon Shale and, possibly, in the Wolfcamp trend. The Permian Basin has long been Energen Resources' second largest area of operation, and we have had a solid base of oil reserves for quite some time. This acquisition - our fourth in the Permian Basin
in the last 18 months - further solidifies our prominence in this prolific, domestic oil-producing region."
A horizontal drilling play targeting the 3rd Bone Spring Sands at a vertical depth of 10,500-11,500 feet, the typical Bone Spring well has estimated recovery of 400,000-500,000 BOE; Energen Resources estimates that drilling and completion costs are approximately $7.5 million per well.
Energen has drilled 8 Bone Spring wells to-date in Ward and Winkler counties and participated in another 23 wells on its existing Bone Spring acreage (18,300 net acres; 12,300 net undeveloped acres) in the Permian
Basin, and the company has previously announced plans to drill another 5 net wells in 2011. This acquisition brings Energen Resources' total acreage position in the 3rd Bone Spring play to more than 33,000 net undeveloped acres and approximately 100 net drilling locations.
Energen Resources also believes the entire 40,000 acres is prospective for the Avalon shale and, possibly, the Wolfcamp trend. The company plans to drill at least one Avalon well in 2011; if successful, Energen's new acreage position offers some 125 potential Avalon shale locations (320-acre spacing). Together with existing acreage, this acquisition brings the company's total Avalon potential to more than 60,000 net undeveloped acres and more than 180 drilling locations.
Energen Corp. is a diversified energy holding company with headquarters in Birmingham, AL. Its two lines of business are the acquisition, development and exploration of domestic, onshore natural gas, oil and NGL reserves and natural gas distribution in central and north Alabama.
Basin locations in the TXan NM area.
http://www.aapg.org/explorer/2008/04apr/texas_basinsmap.cfm
Linn Energy properties located in Hale county TX.
http://en.wikipedia.org/wiki/File:Map_of_Texas_highlighting_Hale_County.svg
Published: Sep 7, 2010
HOUSTON – LINN Energy LLC (Nasdaq:LINE) has signed three definitive purchase agreements to acquire oil and natural gas properties located in the Wolfberry trend of the Permian Basin for a combined price of $352.2 million, subject to closing conditions. The company anticipates the acquisitions will close before the end of November 2010, and will be financed with proceeds from borrowings under its revolving credit facility.
"These acquisitions are an excellent addition to our existing Permian assets in the Wolfberry trend and a significant addition to our inventory of high-return oil projects," said Mark E. Ellis, president and CEO of LINN Energy.
"Pro forma for these transactions, LINN's Permian Basin production is approximately 10,000 barrels of oil equivalent per day. Proved reserves are more than 74 million barrels of oil equivalent, with a high liquids content of approximately 76%, and are 41% proved developed. Since our first Permian acquisition in August 2009, we have built this region into the company's second largest operating area. An important component of our organic growth will be derived from approximately 400 proved oil-focused Wolfberry drilling opportunities, which we expect will provide LINN with a five-year drilling inventory. Additionally, we expect these acquisitions to be immediately accretive to cash flow per unit upon closing."
Significant characteristics of the three acquisitions are:
• Net production of approximately 3,300 barrels of oil equivalent per day (73% oil);
• Proved reserves of approximately 30 million barrels of oil equivalent (72% oil);
• More than 230 Wolfberry drilling locations representing proved undeveloped reserves of 23 million barrels of oil equivalent; and
• Reserve life of approximately 25 years.
Energen properties located in Martin county.
Probably not to far from FRMC claims.
http://nds.wikipedia.org/wiki/Bild:Map_of_Texas_highlighting_Martin_County.svg
Energen to acquire additional acreage in Permian Basin
Published Nov 2, 2010
E-mail Print
Energen Corporation
Energen has signed a Purchase and Sale Agreement with a private seller to acquire 10,360 net Wolfberry acres in the southeast portion of the trend for $75 million. This Permian Basin acquisition is largely oil and natural gas liquids (NGL) and offers a sizable drilling inventory.
The property includes six producing wells and two wells awaiting completion. Energen Resources has identified 63 proved undeveloped (PUD) locations and 169 probable locations. Estimated proved reserves total 7.6 million barrels of oil equivalents (MMBOE), or 45.8 billion cubic feet equivalent (Bcfe). Estimated probable reserves total 18.4 MMBOE, or 110.1 Bcfe. Future development costs are estimated to be $430 million (including P&A), bringing Energen Resources’ all-in acquisition cost to $19.42 per BOE.
Oil represents 63 percent of the acquisition's estimated proved and probable reserves; NGLs make up 24 percent; and natural gas comprises the remaining 13 percent.
The company plans to develop these properties over the next six years. Specific plans for this acreage in 2011 will be incorporated into the company’s 2011 capital and operating budgets that will be finalized in early December.
The acquisition is expected to close by the end of the year, with an effective date of December 1, 201
Tags: Energen Corporation
Just a basic question,how do we know they have discovered oil on their claim. Yes the potential is there but what makes the management feel they have the goods. They must have some reason to believe it. Maybe swanky can find out for us.
I remember the High Desert deal well,i was in RGLD at the time. Gold and silver companies are the companies i mainly invest in,but i thought i would diversify for a change. Have not invested in a pink sheet stock in a long time.
Nice to see you here random. Lets hope we get a winner.
No longer lurking,i'am in with 50000 shares. Will buy more if it decides to dive. I like the prospects,seems like the guys running the show are not people who would be bullshittin about their prospects.
If Neomedia told people how Ebay was going to use the patents being licensed then i would think more people would invest. Sounds alot of fluff at the moment. After doing some dd,i think i will watch. Nothing extraordinary here. Good luck to all who have invested.
Do they get a royalty every time somebody uses their technology or something. Whats the business model. Company sounds interesting but can't see how they can make money just selling license's. Or do they get some sort of royalty for every mobile phone that uses their patents. Don't understand,could someone help me. I do like to invest in intellectual property companies,but i can't get my head around how this company can make money.
How much is a license. Probably peanuts to ebay.
How does NEOM make any money on this deal. It came into my radar screen but i just don't see the relevance in this deal. I do understand what Neomedia does but how do they make money on this license. Can somebody explain this to me.
If a stock which is private and is seeking to trade to the public in the near future they would provide all the information for investors to peruse so that they would invest when the stock ipo'ed, Why is it any different here,is it a national security risk for people to know. Why shouldn't i know i still have money in this private company. Or has this private company also stopped doing any business.
Grant i would be very happy to know from Jersey if he just told me the company is done for and why. On the other hand he keeps telling me there is hope so i just would like him to tell me the reason for this other then just cryptic comments. What wrong with that? Why is it such a secret,as you said the stock isn't trading hence i can't gain from any insider news.
Double your probably right that was the best post ever,lol. Could Grant tell me why he is still posting if he believes he has lost all his money. Why doesn't he just move on. I'am here praying for info and he keeps telling me i have lost all my money. Why is he so negative?
If we have lost it all,then tell us,why continue to give hope with little substance. I want closure either way. I need some concrete info to continue to hope,is that to much to ask.
What does D&S healthcare do?
Who is D & S Healthcare and who are its partners.
Thanks for the reply Jersey,i will wait in hope. Its just seems so frustrating after all this time.
It does not take this long to get a merge to be completed.. I would think the deal fell thru. I remember Jersey saying it would be completed by the end of September and here we are close to December.
This building up of peoples hopes thing is a very powerful tool to get suckers like us to stay on board. We have come addicts to GSI crap.
I like Jersey but i think he's been taken for a ride like the rest of us. Its time to take our losses and buy some SILVER with the little money we have left.
Without any time frames how can we dare to hope. It seems like all hope is gone,
Hope your alright Jersey. Get well soon. Thanks for all the work you have done.
Jersey,is it possible that you could tell us more on the operational developments. Have they got any contracts signed? Any revenue coming in. The operational side is totally unknown to us.
Throw us a bone please....
Hey we could have a double whammy if GWOW was the shell that was bought.
Lets just merge with an existing shell and have done with it. Time to let the GSI shell die and rise up from the ashes as another company.
Its the American way. Its not being a failure its just business.
Are we dreaming the impossible dream here. Is there anyway we can find out how the business is going. Now living in the UK its very difficult for me to call Gunter.
The problem with that scenerio Jersaey is we will then have to wait for 2010 financials,this is getting rediculous. I know its not your fault Jersy because of the stake you have in the company to do well,but is their anyway these financials can be fasttracked and what really is the problem if they can't be.
Walker if somebody knew how well the company was doing they may just provide the money to get it trading. Unless you market yourself who will have the knowledge to give you the chance to perform.
Well i have not sold a single share yet,i think GSI will come good someday. I just wish somebody would get info on what is currently happening operationally. I know being an insider you have got to be careful in what you disclose but could somebody who has the hat of investor relations post some news about the company on this message forum.