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I'm with you Ragtime. Been here for almost three years and a few more won't hurt.
Jay
Before the last numbers were released I was doubtfull the price would drop below .60, Wrong!
I'm accumulating a few. I can see $1 by year end 08 and possibly a spike to $2 over the next three years.
JMHO of course!
J
My sentiments as well. I've been thinking that once we get off the ground with this Methane play in East Tennessee and more of our Kansas revenues can be directed toward Kansas exploration we'll be OK.
We had a streak of bad luck on drillings in late summer and early fall. Hopefully, the streak will turn positive and we can add to our 100% - royalties holdings and thus add to our production.
I'm back in and adding here for a late Spring and Summer play.
Very good point. Thanks for your input!
J
Bacon, I must claim to having sold on the Quarterly numbers. I had been accumulating in the high sixties and low seventies for quite some time and when I saw where the Tennesssee branch had continued to draw from the Kansas revenues once again I thought I'd take some profits and let her drift down again while awaiting the drilling of the balance of the 10 well program Salas forced on us.
No filings to sell anything that I've found. Salas that is. Why would he want to sell anything at this price?
I'm thinking we are just seeing some frustation in shareholders tired of the Tennessee branch (the Kodak contract) draining so heavily on our Kansas production. Just my opinion of course and if they can get some revenue to offset the drain out East we could see a substantial jump in share price.
"Mass Surrender" ? ? ?
Personally I haven't considered putting any money to work in 'Pennies' for quite some time. Why when with almost no risk I can get gains of 40+% in major profitable companies like Google, Apple, Monsanto,Goldman Sachs, etc., However, I am considering contacting Tom to hear what he has to say about what he has going on.
With the end of the year rapidly approaching and gains to consider from my major plays I've positions in Pinks that could cover a bit of my tax exposure. I'm not saying that EDEX is one I will sell, but at the same time the time frame of our future events here have to be considered.
I didn't buy EDEX for a short-term play and I'd hate like hell to get caught without a nice position when all the pieces start falling into place by selling for a tax write-off.
Decisions!
J
IMO...We will continue to trade sideways until we can offset the negative expenditure for natural gas to complete our contract with Eastman in the East Tennessee region. Our Kansas production continues to increase and our Tennessee costs continue to rise. We need to deal with this drain before we can move upwards.
Stone
I agree with you Widcat2. Yes, the wait is sometimes depressing. However, as time goes by and more short term traders get agitated and sell more cheap shares are available for me.
I'm not a major player here (just a couple hundred K shares in total so far) and if it all goes to hell, so be it. I don't get into the Casinos scene and if I did, well I'm sure I'd drop more there in an evening than I have at stake here. Plus I've put much more into empty holes throughout Kansas over the years which has taught me to not get overly anxious in this game.
Ya want to make a bet on that?
And, like it or not they all "reserve the right to better perfect their position"
J
I enjoy your 'rants' and ramblings Docrew. They are to the point and help remind many of us why we jumped into this Co. quite some time back and continue to hold on to our beliefs.
Thanks,
J
And who made it possible to buy into EDEX that then allowed for the possibility to buy into Geo's projects?
Abbam,
I agree with you here! Enough is enough.
I haven't heard or read anything regarding time frames or costs. It will take time. How much time only time will tell. First they will have to find a completion rig capable of handling the total weight of casing needing to be pulled and at the same time an organization with personnel capable of handling the job. This is a very big problem in the industry today. So many of the oldtimers have retired or left the industry since the mid 90's and replacing them is tough, this is a miserable and very dirty job!
I'm not making excuses for anyone here just calling it as I see it. I agree with Geo that money isn't really the problem here. It is finding and scheduling an organization to do the remaining job.
Many will probably pull out of this position because of this delay and if time is so important to those I understand their reasoning. However, I am here for the results of Mesa,ND and beyond. I'll add when I have extra investment capital and sit it out.
J
Out for the third time!
Maybe I missed one of the last two times you got out, but if you got out today at .04 did you lose money? If so was it 'lost money again'?
If either of these were the case aren't you tired of loosing money here?
Ellis County Kansas is in N. Central Kansas. Hays is the County seat. It is about 200 miles appox WNW of Woodson.
Yea, it really kinda was Nellie!
I copied the address you posted and will be doing so yet tonight. 10,000' you say? Damned expensive wells to drill!
lll,
Can't say that I'm in quite the same position as you. However, I've bought a younger sister in averaging .08. I have an average of .06.
I bought in to this because I feel/think Tom, Tony and Clayton have a goal and a plan to achieve it. I never thought the Mesa was the 'all or nothin' that some proclaim and we've many opportunities available to us over time. Not that the Mesa isn't good, I think we'll eventually show it to be what Tom had in mind: a major taking over and he then issuing a dividend to shareholders and going on with other plays elsewhere.
I intend to stay pat with my position for now and when we get some news where it starts moving upward I'll buy more and average my sister down in the next several weeks.
Granted this is just my opinion and so,,,good luck in making your decision.
Jay
40 mile ride! Bicycle, Car or Hog?
I started my day early, at dawn actually since it is supposed to be in the mid 90's today with very high humidity, with my 8yr old Arab gelding and I ponying a 2 yr old filly over 10 miles here in Kansas.
The sunrise was beautiful over the ripening gold wheatfields and native grasslands!
Enjoy the balance of your day.
Jay
I need not post again! You pretty much summed it all up.
Jay
Very interesting, well thoughtout and articulated thoughts Whazoo. Thanks for your input!
With a portfolio as such my thoughts are that he may indeed have ranked them in priority such as you mentioned. However, I can't help but think what financing he is pursuing will allow him to fire all irons (allowing for the Governmantal snag in Romania) and start operations in all areas at once.
If I were managing a baseball team going into a 3 game series I'd sure want to have 3 starters and numerous relief pitchers before leaving home rather than hoping my 1 starter and several relief pitchers could win the first one and be strong enough to go the final 2.
Just my thoughts of course and from reading your thoughts it's quite evident to me that you've far more information as to KING's ongoing involvements than I. So, I tip my hat and say your 'probably' right. However, I am still strongly favoring success over time with this Company rather than failure as I feel are you.
Jay
Volume had dried up and now it is moving again. Seems they found the area where they (MM's) could get some action.
Rig, You are so correct! Good to see you post again.
I'm thinking something is in the wind this time. Yes, it is just a feeling, but being the Patriot that I am, especially with the 4th of July just around the corner, the Crude and NG prices building a nice solid range and Harris'and his groups history (integreity) in the industry the chips just 'seem' to be falling in place.
I've been buying for myself and a sister since last September. My first buy was @.075 and I have been buying her all the way down to .016. I'm sitting with a .03 base and if we see the mid .01's again I'll load somemore.
What I am puzzling over is where our 'rig' is, what our status is with Global Sante Fe (I'm a 4 yr. share owner), and the availability of quality hands to operate said rig in Europe?
At this time I'd venture (once we get rolling) the land based operations will be initiated first and our Vermillion play will be put off until this years hurricane season is over.
Yes, these are only assumptions. However, seeing as how he's had JV's sent his way and has chose to pursue his own I'm thinking he's working on a plan to pursue a plan encompassing all his projects pretty much all at once rather than financing and working one at a time. Thus, this has taken time. I like the future possibilities. Yet, with all such ventures we are not throwing the farm into the wager pool.
Best to ya, Jay
Badge, I agree the 'bluelight special' will occurr if conditions continue much longer. However, I doubt with the number of solid 'stated' longs here that it will get below .18.
I added some to my base @ .22 and have been using an old grain dryer (borrowed from my 78 year old Dad) to have available usable powder, if we see this.
45! You are only 45 years young! Youngster, oh well, keep up the good work over the next 45 Low. Happy Birthday.
Jay
Thanks Badge for your words of sound wisdom!
Personally the dots I'm seeing are quite large and easy to draw together, forming a definitive picture.
J
Well he could give myself, my brothers and sisters, numerous O&G speculators I've known over the years and a multihood of other players around the World a call. Just for a start!
That he will King!
Dog, Mesa is what first attracted me to EDEX. However, my investment was in Tom, Tony and Calvin.
J
Moses, In comparison to say an off-shore NG well in the Gulf these may be "small gas wells" but in my opinion a 90" pay at uner 2000' is anything but small.
Morning Lander,
I still think a lot of the players here were brought in for a momo play and have stuck around for quite awhile in pennyland time. There is absolutely nothing wrong with this except this 'wildcat' play had its day early and the next one will only be when the actual numbers are known. Those expecting them in yesterdays PR are certainly disappointed and will probably flip out of the stock fearing their money was dead. So be it! I've decided to flip out of stocks at a loss before and will probably do so again. One can't be right 100% of the time. HOwever, this hasn't and won't be one of my mistakes!
If as you say their departure drives the SP down to the .03 area, once again so be it.
I disagree though that Tom will have a hard time securing that which is necesssary to complete this field. 90' of NG pay is a substantial find in itself.
J
I don't read it as there is Abbam. Just good'ol Natural Gas!
Beginning to sound like I'll be bidding on your shares as well tomorrow!
Read the PR man! Testing will continue to determine just that when the casing has been removed!
Thank You Sir, sound words of wisdom!
Deserves what?
2 commercial pay zones and your thinking subpenny?.
Those demanding real numbers you should go to the S&P or stocks here in pennyland that actually release audited numbers (few to say the least) from old, damn near played out fields where they either drill next to an existing well or are reworking old producers.
This is a Wildcat operation and for those of us willing to play the game we will profit.
My account shows an average of .065 and my sister's is showing a base of .07 so we can both live happiy with what we currently own and neither of us are afraid of going fishing for more.
Damn some of these people should stay with the S&P 500 companies and stay out of Sectors they have no knowledge here in spec. land!