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Can't believe this Company is still here! Heard they went bankrupt??
Lost big time in NESV too, but don't blame Management, blame the industry which was manipulated to dive 700%. Even the big boys are feeling the pinch of low prices.
Started getting out of all oil stocks I owned mid last year when everyone was wrong about how long the slump would last. I heard six months tops, but that was wrong, then I heard nine months, nope! That's when I knew it was time to bail!
And were not through, Schlumberger just announce cutting 200k plus jobs just this past week, this industry is in the toilet! And will be there for some time.
There is no way in he...ll NESV was going to survive with the debt load brought on when they acquired JD Field Service. I knew this ship was sinking and fast!
Your right! They are pumping this thing and there is nothing to pump! NESV and the Subsidiary JD Field Websites are down,they have not renewed their Corporate license with Nevada, and their SEC filings are not current. Tried calling the Corporate Office and nothing! Doesn't take a rocket scientist to figure this one out!
They are out of business according to the State of Nevada!
https://www.nvsilverflume.gov/businessSearch
They are in default and someone has already grabbed the name! Should do your homework as this thing died a swift death already!
Dead!! Dead!! Dead!!
Don't waist your time folks (or money) in the tank. I used to be an advocate but with the debt knew the ship would sink!
Just a matter of simple math, no way they could survive the downturn with the outstanding, plain and simple!
Good right off though, if you need one.
I am sure he is an intelligent investor. If he has his own business, it takes guts and street smarts to run it.
Has Chance resigned? Who did he post his resignation to and when? I would think he would have to do it to the BOD to be official!!
Not surprised if he did with the industry in a term oil (pund intended) Question, if he resigned, doesn't the Company/BOD have to file an 8k? Did this just happen?
Can't believe NESV is even trading!
When oil did not rebound in the last half of 2015, like everyone was expecting,I knew they were in trouble! Now the financials are obviously late and not going to be filed, tells me this ship has sunk!
It is a shame but there is no way they could survive with the debt, common story in this industry.
JD Field must have gone out of business too, their website is shut down! NESV's is still up so maybe they are regrouping somehow. Has anyone tried to find out what is happening with the Company? If they are regrouping, could be an opportunity.
Oil and Gas heading south!!
"Schlumberger CEO Paal Kibsgaard gave a presentation at an industry conference Monday, and much of his outlook was very bearish.
He started with the fact that the oil industry is in "the deepest financial crisis on record" that is making it impossible for most oil and gas operators to stay profitable, or even stay alive."
This Company is dead! Let's burry it in the hills!
What!!!
He is running the Company?? When did this all happen?
Don't they have to do an 8k or something if Chance left?? Or is it because they are a pink sheet company that they don't have to??
Now I am really, really glad I left this POS!! Fell apart at the seams when Oil tanked, I knew it would if oil prices stayed low too long, way over leveraged with debt!
I'm otta here folks, Good luck!
Who is Stevenson? Is he on the BOD?
Gave up trying!
There is knowbody there, just an answering service.
Glad I took my lumps and sold out when I did, at least I had a good tax write off this year.
Good luck to you all!
Stick a fork in this one!
I can finally say I am out of here! Sold the last share today. A once big time believer in NESV has me with bitter sweet goodbyes but there are a very few out there that are going to endure this downturn in Oil. Once had over 65% of my portfolio in O and G and thankfully and painfully down to 7%. Big write off but moving on!
Good luck to all of you die hard's, would consider minimizing the exposure as the industry is going to be in the tank for a long while, but who knows.
Cheers
I know NESV is all dependent on JD, does this mean they are in the farming/ranch business now that oil has taken a crap? What does that mean for the Investors here? I guess we will find out when the financials hit this month.
Is NESV out of business? Have tried calling them for 6 weeks now leaving messages and no reply at all!!!!!!!!!!
There was a post on here that the CEO and CFO left! If they are gone, who is minding the store!
MORGAN STANLEY: We're slashing our oil price forecast by 50%
Oil is one of the most traded commodities at the moment, and everyone has a view. But the prevailing opinion now is that oil prices won't be returning to triple digits a barrel anytime soon. On Monday, Ian Taylor, CEO of Vitol Group, said the price of oil would stay beneath $60 for as long as 10 years. Now, Morgan Stanley has weighed in, slashing its 2016 oil forecasts from above $50 a barrel to less than $30. It's all about demand. With the OPEC oil-producing cartel refusing to cut production, it will take a lot of demand for the commodity to mop up the glut and return prices to normal. Morgan Stanley analysts don't see any evidence of that happening soon
Anybody have $92,000 can buy NESV!
Market cap below $100 lol! Real bargain here!
Figures that's what they will do!
Sure you can if the Company owes you money!
I agree news, any news would be better than what we are getting and that is nothing! Chance needs to have another letter to shareholders or something to update us.
I disagree that oil prices are not affecting NESV or anyone else in this commodity, have lost big time, 200 times more than what I have in here.
Allot of causalities out there right now. Let's just hope it turns sometime soon before I have to get a job at McDonalds to cover.
Don't get used to it, doubt we will see green very often with oil heading south!
Every single one of my energy holdings are, depressing. Where's Obama when you need him! They bailed out the banks! Why not oil companies!
Oil headed to $20!
Who would have thought a year ago it would go this low!! Loving it at the pump, but I would pay $6 per gallon if it would go back up to $70!
No reserve shares left to convert!
According to WWST the Company transfer agent, the note holders are out of shares because the reserves, over 50 mm, are keeping them from doing so!
One invested a small amount but reserved over 35mm shares so the others are SOL, lol!
This is not good!
Oil prices are either killing NESV or they are already dead! Still no updated filings with the sos of Nevada! That tells me we are in trouble here! No news is not good news!!! What the hell is going on??
Can oil go lower? ‘An emphatic yes’, says IEA
The International Energy Agency warned on Tuesday that a further drop in oil prices is likely as supply continues to exceed demand, placing "enormous strain" on the ability of the oil system to absorb it efficiently.
Brent crude futures have fallen to a 13-year low, trading below $29 a barrel and U.S. crude futures are also hovering around $29 a barrel. Standard Chartered has said prices could go as low as $10 a barrel while Goldman Sachs has said it could fall to $20.
Most of the U.S. domestic oil producers are doomed. This possible downturn to $10 PBB will be the nail in the coffin! Expect industry wide bankruptcies this year including NESV, no doubt about it, the question is when!
Fund manager who’s been right on oil has a depressing new prediction:
http://www.marketwatch.com/story/fund-manager-whos-been-right-on-oil-has-a-depressing-new-prediction-2016-01-15?siteid=yhoof2
Oil is dead in the U.S., at least for a few years.
Unless they have thrown in the towel.
With no news and now a default on the Corporate renewal fee's, tells me there is trouble in paradise! I just may be right they are going out of business! Hope I am wrong but would not be surprised! They have never been this quiet. Ugggg!!!!!!!
Default with who, the note converters?
I don't think they will be around for that long! lol!
This ship is sinking! Question is, hold onto the rail and go down with the ship, or jump overboard~!
Don't feel bad, there are many passengers in this wreck!
Oil going to $20, allot of companies going to go bankrupt, including NESV, just a matter of time!
$20 Oil the new bottom! Record bankruptcy filings expected this year!
Bloomberg see's $20 oil as a reality that is fast approaching! Analyst concluded oversupply of the black gold will continue throughout 2016 and into 2017 before a modest recovery begins.
This is not good news for U.S. Shale producers who are over leveraged and deep in debt. Rig counts, which official numbers are expected to be released this Friday, will show a 70% decline in Oil and Natural Gas rigs in the U.S. from a little over a year ago.
With such a bleak growth outlook for the industry going forward, Analyst expect producers who are carrying a high debt load, will not be able to sustain pumping at a loss to service the debt, which many have been doing throughout 2015 to stay alive.
This cannot continue and it is expected that 30-50% of all companies, not just producers, but supply and service companies as well serving the industry, will go bankrupt this year barring a major event to propel prices higher.
Conclusion, the U.S. could see a very severe contraction in the number of companies operating in the shale industry, an industry that has now gone from boom to bust.
TPAC was headed the right direction a few months ago but we need a big bounce to recover what losses I have in here. Hope you are right!
Share Buyback?? Good luck with that !! So many Co's promise but never deliver. Have the feeling MDIN will be the same!
We will see, Tesla is an up and coming progressive Company.
You want to invest, be my guest!
Was a big fan of the Company, not their fault the bottom fell out of the market!
Exactly! Hit the nail on the head Integral!
I can't possibly see NESV surviving unless they get out of the Oil and Gas Industry! It is not pretty out there! I have personally lost hundreds of thousands in this sector, and it is going to get worse!
Not trying to bash anyone, especially not NESV as I liked this Company, but you better prepare yourself for bad news here I am afraid!
Hope I am wrong!!
They can't provide services if there is nothing to service:
Natural Gas Rig Count: The count was down by 14 from the past week to 148. Per the latest report, the number of natural gas-directed rigs is down to almost three-fourth of its highest count of 811 reached in 2012. In fact, the current natural gas rig count is almost 80% below the all-time high of 1,606, reached in late summer 2008. In the year-ago period, there were 329 active natural gas rigs.
Oil Rig Count: The rig count fell by 20 from the previous week to 516. Interestingly, the number had skyrocketed to 1,609 in Oct 2014 – the highest figure to have been reported since Baker Hughes started breaking up oil and natural gas rig counts in 1987. The current tally not only lies on the lower end of the five-year range but is also well below the previous year’s rig count of 1,421.
The party is over! Just a matter of time. Save your money!
I don't think they have a game plan other than to breathe air in and out! If they are on life support as I suspect, sure wouldn't advise them to put any news out that could be used against them later, which is what it appears they are doing!
NESV is a good Company don't get my rantings wrong, I believe they had a great business model. But Oil and Gas is in big trouble and all in the space right now are bleeding red ink!
No doubt good lending sources have dried up for them as well, even sources for buying other companies! I'll bet they lost the funding for the one that was commented on in the last Press, who would lend to distressed companies, which almost all are right now, if they have not gone out of business already that is! Without funding, there goes their business plan out the window!
I frankly was surprised when the New Year passed and we didn't hear that they were done with as much red we saw in the last Q. They can't last long with as much debt JD Field Services is carrying, have to be operating on life support!
Stick a fork in this one! My opinion obviously but if I were to advise new investors in here, I would tell them to run for the hills, and fast!
I don't think even T Boone or John D. Rockefeller could keep NESV Sandridge (SDOC), or NuState Energy (NSEH), etc. alive, they are all in serious trouble, and unfortunately I have lost a small fortune in the energy space and my Broker is telling me it is going to get allot worse from here before it gets better.
The fact we have not heard anything out of NESV which is very common right now, tells me they are in trouble, unfortunately as I was a big supporter in the past.
Just saying my two cents worth, I think I have paid for that!
Toxic Notes~! Oil is headed to $20 that is the real problem here! Notes don't help but the industry is in chaos and NESV is smack dab in the middle!
"Oil prices, we'd note, fell to a 12-year low on Monday as West Texas Intermediate crude, the US benchmark, traded to as low as $30.99 a barrel for the first time since December 2003. Morgan Stanley analysts, meanwhile, were out saying that oil could be headed to $20. They're not the first ones to do that."
Break out the life boats, this ship is going down, like many others in my portfolio I am afraid to say!