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It is likely that RM will be the speaker of overall direction of the company and an overview of the info. He should then divert all technical questions to Barry. At least that is how the larger companies do it.
Lou
I talked with redchip yesterday and they said it has not gone yet. News on it is expected this week or next.
I expect the news that it has gone will also be the bottom in stock price.
Lou
57Tbird,
Sounds a little picky to me on the side of the overseeing board.
But in any case it would seem that Malone & Bailey will be even more dilligent when they get BDGR's info and we can expect a more accurate assesment of BDGR's value.
Lou
Millionairedreamer,
I talked with Barry a couple of weeks ago and as of that time the info had not yet been sendt to the auditors. Have you been told differently since then? And, I was also under the impression that the 3rd quarter unaudited results would come out the same time the audit material got shipped out. Haven't seen those yet.
Lou
Hi All,
I called to talk to Barry today. They said he will be back on Jan. 5th. He has been away from home for long stretches, so I guess he needs a little R+R.
I assume the audit figures are going to come in below expectations. Probably below 15,000 bbls a month. But even so, it is the knowing that matters. Knowing if it is a profit or a loss will put this stock over $1 easy. Knowing that this is not a scam. Most investers will not touch a stock that is unaudited, but they will buy an audited stock with losses.
So don't worry about the figures in the audit, be happy you won't have to worry if the figures are real anymore.
Lou
Dragon Man,
Some past info has indicated that the 30,000/mo. isn't in the cards. Also, that the income is less than the production becuse of problems getting oil trucked. That can only go on so long before the storage facilities are full and pumping stops. This was being taken care of (I guess a new trucker was found) and should increase sales as the excess oil goes to market. With that income we should be opening more wells and start getting closer to the 30,000 barrel target again. Fingers crossed.
Lou
The ticker symbol OMDA.PK does not come up on yahoo.
advise.
Lou
Are talking about me? ENGLISH!!!
Lou
Tbird,
If this is the litigation everyone is worried about, what is the big deal. By the plaintiffs own entry it is for less the 50,000. That is less than 5% of one month's cash flow.
That is actually good news.
Lou
Plugging wells on land cost very little and in caddo lake that is very shallow it is almost nothing either. The ones that are costly are those in the gulf that are large diameter and very deep. With these types of wells bdgr wouldn't cap anthing but one that went dry. They are making profits from wells pumping only a few barrels per day. The plugging of wells is not an issue.
Lou
Did someone on the board bail out of 136,523 shares, or is that the last of that stock recipient's transaction? If I was trying to get rid of a few million shares and it finally got down to 136,523, I would just sell em at the market to finnish it. Could be him.
Lou
Ed,
It's princess diane's boyfriend's father. I think it is a parrity on the recent investgation of the "princess Di conpericy"
(spelling?)
Lou
Here is a little info to help ease the fears out there.
The quantites quoted on the PV10 report were NET Black Dragon.
As of Sept. that is a little less than 1 mil. a month and now slightly more. As far as cash flow per share that is 17.4 cents per share. If it were not for the fact that BDGR is opening new wells and opening closed in wells, that would be mostly earnings.
Maybe 10 cents per share. With a company this small and with a high growth rate, the PE would be pretty high.
The selling pressure is from a party that has recieved stock from a 2 year old deal. The stock was issued recently, but the restriction is over because the restriction started at the date of the deal. More importantly this stock was issued in liew of cash payments that would be this persons income. Soooooo. The selling is not related to invester confidence, but to the conversion of stock to cash.
3rd quarter results coming soon and audit almost ready for auditors.
Lou
M'dreamer,
contact me Lou@cameraturret.com
M'dreamer,
Does that mean you have the letter R in your vocabulary.
I've misplaced mine. Might have left it in the ca'.
Lou
M'dreamer,
I spoke to barry just before thanksgiving and got the same impression of him. Smart guy, and talked very straight.
Also, I live just south of boston and the accent is comforting. Are you still in the area?
I keep getting told by red chip that the 11 mil. on a yearly basis is bdgr's take. I was also told that there was only 58 mil shares out. Is anyone out there thinking as I do that the stock has been diluted enough. What are everyone's thought on calling for a shareholders meeting to limit the shares issued.
Lou
Valutrader,
If you look at oil stocks in general you will see a price rise from Dec to April. The smaller, more volitile the stock, the greater the percentage rise. That along with news anouncedments drove BDGR to the extereme of 2.30 or so. The missed numbers and
failure to deliver info on time has lead to this decline. Another drain is the restricted shares issued 12 months ago that are available to sell now and have a profit as the stock was actually below this price one year ago.
As far as getting our money back. When the audit is complete, this is a $2 stock easily. Given the time of its release (dec-april), it should be rising anyway. Oil prices could help or hinder that.
The one last variable is the managements short term greed verses long term greed. Short term greed: They could be taking too much money in compansation and hurting growth.
Long term greed: That is where we are. They have 14 million or so shares.
If they put their all into this company they could
get the stock to $10 in a couple of years and be worth 140 million
in aggregate.
Lou
Fishingfund,
You are right about their inability to fulfill promises. And that is why the stock is down. People think that lack of ability is them being untruthful. From my conversations it appears that they are only inept. At least at the dialog. If all else is true they are good at the important parts. Building a company and making money. Remember after the voracity by which the gov't went after enron. These people would be on their way to law suits and jail time. I doubt very much that they are that stupid.
Lou
JJerry,
I think message boards for some people are a place to vent. Everyone handles disappointment differently, and some very badly.
The people running this company are not knights in shining armor, nor are their MBA's from Yale. That is part of the problem. They tend to exaggerate to say the least. But, yes they are going to make money, and us along with them.
Could the bashers be trying to force the stock down because they are short? They would have to be awful stupid to short a .30 stock with an upside potential of $10. More likely they are angry over money they have lost in the stock by panicking.
Nothing is a sure thing, and this isn't either. But if it is close to what we have been told it is a winner. And if it isn't they could serve jail time.
On a positive note. It may be possible for the message board's members to pool their votes and redirect this company. A stockholders meeting could be forced and issues set forth by the shareholders. One being, no more dilution of the shares.
58 million is enough.
Lou
Reversetaxman,
I did tell him that no one could locate his liscense and where he was registered. He said Oklahoma. I tried a search there and couldn't locate his ticket either. I have sent him an email asking him why.
He also said that he is not on the board of BDGR and never was.
Doesn't know why it says that. But he did confirm that there is a building with black dragon on the sign. There are wells. That an aquaintance did some electical work for them, and got paid, though somewhat late.
BDGR, is a company in business. Only the audit will tell us just how good a company.
Lou
And here is the engineer.
I just got off the phone with Walter Watts. Real intelligent guy. He is a P.E. in the state of Oklahoma.
It confirms that Black Dragon exists and is a working company.
The rest is up to the audit.
Lou
I looked at that stock and they don't report to SEC and you can't even get the outstanding shares. But they are over $1/ share.
I guess knowing how to present things helps.
I think also that bdgr is being manipulated by the market makers to some degree.
To Fishingfund,
If there are documents pertaining to the SEC and wrongdoing by these directors, please post them for all to see.
Also, at the bottom of the reserve analysis is Walter Watts's phone number. He answers to his middle neame Ed.
His PE stamp number is also there, 72560.
Lou
Sorry for the confusion. LA meant the state, not the city.
I can't spell Louisiana.
Lou
I have a small business. I work a ton of hours, everything is late, and my paperwork is in a shambles. Because I'm making too much money, making money, to waste time on the small stuff. I understand that to short sighted, short term stock holders, the PV10 report, earnings, and the audit are not small stuff. But to the group running this company (with about 14 million shares), the stock price today doesn't matter. It is only when they are ready to cash out, that it matters. I have invested a large sum in this company. A sum I would hate to loose, but my life would not change if I did. If you have so much invested that it would change your life, sell off some shares. If not, sit tight. If a meteor doesn't drop on north west LA, we will all do very well.
Lou
Down 2 cents and the panic starts. If Mr. Watts is a reg. engineer, he has a state license. One that can be revoked if he ever forged a document. A person earns a degree in engineering and passes state tests to get his license. It is too valuable an asset to through away. Unless he would like to live rich in Bolivia. I myself would rather be rich here.
In the present state of the SEC since Enron, people would have to be pretty stupid to falsify anything in a public company. I doubt these people are that stupid. What you have to decide here is not if this company is for real, but if these people can succeed in this market place.
Lou
My conversation with Barry (CFO) convinced me. He comes from Boston, MA., very close to where I live. He was candid and apeared up on everything. He was definatly honest and too smart to be fooled, so it has to be very close to all we've heard.
Also, a good source says there will be news this week. Not sure if it is the oil report or quarter or both.
Lou
Your right, a lot has been put on the audit. The importance of the audit is to make this a real company and to allow others to invest in a reporting company. The value of a reporting company is far greater than no reporting. The VP10 report is important in its own right. But it is not the importance of how much oil is in the ground, but that and how much they can bring up each day/month/year. Remember, a company with one billion barrels of oil isn't worth much if they can only bring up 1 barrel a day.
Lou
PS. I'm not sure of the spelling of the CFO. He said he came from Boston and summered on Cape cod in falmouth. I live between the two. I did find a Barry Mcfarland close to boston with a mcfarland in falmouth as well.
Millionairedreamer,
I think your right to hold on and not get too nervous, I have.
I finally after two days, got a return call from Mr. Malone of Malone and Baily. He confirmed what the CFO had said. They have been retained, but have not recieved the finanials as of yet.
He also said that if it comes fairly soon, they are in a good possition to complete it quickly. After the first of the year things get buzy.
It looks like most or all of what bdgr has stated is close to the truth. They just don't know how to say it, and don't realize that the over optomistic way of giving dates hurts the stock.
They will get better at it over time.
This is a $5 stock on the Amex and it looks like it will be there in under a year. Just the info that it has applied officially may put it there.
Lou
I just spoke with the new CFO Barry McFarlin at BDGR. Here is the scoop.
Barry is a real smart guy and has been brought in by bdgr to assemble the info for the auditors.
These are not his words, but my take.
A retainer has been paid to auditors Malone and Baily but the books were in a state not compatable with an audit. Bdgr on its own would have not gotten them set up correctly, so they brought in Barry to bring the company into the 21st century. Malone and Baily will recieve the books within about 2 weeks. Though the assembly of all the lease agreements is a nightmare, once done, the auditors work is minimal. Malone and Baily could complete it in well under a month if they can put people to it right away.
Also, the PV-10 report is only a report of well production and future estimated production for lenders. The same way you would verify your income from your imployer to get a mortgage.
And lastly, the Gemini deal is all or mostly a funded deal and will not dilute shares. This deal has not taken place as of yet.
Hope this info helps.
Lou
Black dragon is under independent audit. I finally reached someone today at Malone and Baily. And though they can legally say very little, they did confirm that Black dragon is a client and that an audit of the company is underway.
So, my initial thoughts are confirmed. Black dragon is run by hap-hazard abandon, with the midas touch.
This is a $10 stock, if they can refrain from diluting the shares any further.
Congradulations to the longs.
Lou
Hi All, I made a real nice trade in this stock when I bought 100K at .30 and sold 50k at 2 to 2.20. However, I have bought it all back and then some on the way down.
I have some big questions for you all if you can answer.
1. Why is bdgr not listed on the auditors web site under:
"Public clients". http://www.malone-bailey.com/pubclients.htm
2. Why is bdgr, who suposidly has no long term debt, trading at .33 for a market cap of .33x50 million = 16.5 million. Yet they own Gemini, that they just paid 25 million for in stock and prizes.
That should not be possible.
Thanks, Lou