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Are the troops and talk by Chavez going to hurt future developement of the Columbian fields?This is a great find,hope this doesn't escalate.I like the potential but cautious now about buying more.Nice expanding reserves,but Chavez is a nut case and unpredictable.Could screw up our good thing.
He is learning!Three redundent PR's, all very old news,2 years old, released because he had to dump 30 million new shares.Jon and Tom two partners in Palo and Mesa.The companies linked together by tactics also.
About 325 million shares out,I think you are a couple decimal points off.But math isn't my strong siute so I asked my daughter.
If it falls to .006 that will be 50 million more,not including what has been issued since 1/11/08 when Routh transfer stated that there were 268,658,308 million out,add 50 plus million a good quess would be 325 million and climbing.
#1I invest time in this company so more people don't get caught up in the hype.Such as PIP ect. #2 The source is never right,Tom!I like independent sources they always seem to have the true story.#3 You are 100% right millions and millions of shares are being dumped,which IMHO will have to lead to a Reverse Split!#4The company has always made it difficult to get the true facts,PR's always vague such as one that said we have a completed hole,never any results and never any names! Finally you are supposed to be an independent moderator and encourage all the factual info not continually ask anyone who don't believe in EDEX to take a hike,Please allow for the truth to prevail without the bitterness,you seem to show!I know your mad at yourself for holding this company from 22 cents to below a penny,but thanks to poster like me you have been warned.I can't in good conscious help you pump up this stock so you can dump it and get even.The price is what it is,and propably over valued since they only own a computer.Glty
Just e-mailed the compliance division to ask if it is legal to withhold info on the issuing of new stock,Specificly ask if Routh Transfer could refuse to give out that info on a public company,but who would want to invest in a company that won't allow research but discourage it?When I get an answer I will post it.It would be nice to know if it is even legal,we all know it isn't ethical!Bet Exxon doesn't require you to call the CEO.LOL
Do you think they used that PR,of old BS to print a few more million stock certs?I do,and if one could get info from Routh Transfer I'd call and confirm it,but Tom has gagged all info on outstanding shares!WHY,WHY,Why!Cause the printing press is working overtime!Prove it wrong.bet you can't!
How many shares are out now,do you know?Hard to go to the source when the CEO gags the agent.The company is at .0094 its hard to spin positive,and Geosurveys is not answering any posts.I have no shares, I got out when I started to see the callapse saved a lot!
I didn't say that.One well will get you all the money you need if you flow test and the results are good.Get us some results.Mesa would be developed in short order if it didn't take over a year to test one well.Partners would be beating down your door.Also some fields are one well with proven reserves, is that real enough!Palo Duro could be such a field if you hit the top of a dome,you may have the only well for miles and a good one with reserves.Right
I agree and they have nothing proved,even one well will give you reserves,EDEX has none.Prove up just one well and investors will come!EDEX has always had an excuse why they haven't flow tested Mesa,ND ect.They keep promising by this date or that, but nothing.
You could tell they were diluting the shares again and when I called Routh Transfer and Jason was asked to not leak the increases in outstanding shares by Tom you knew some heavy promo to absorb the newly issued millions of shares was underway.No one is selling,so as you said, new suckers had to be found,all investors now are holding because they are so close to zero it is not much of a gamble to lose what little is left of their investment.
The company itself states they have no proven reserves of gas at Mesa!No reserves of any kind according to EDEX.How many wells would be needed depends on flow which has never been tested,proved up or inferred.None of the three P's!I can't believe there is much of anything or reserves would of been established years ago!Read the Q report it clearly states no PROVEN reserves of any kind!
Why gag the transfer agent?Routh transfer,Plano Tex.because millions more being dumped!Public company,public info!Yes Ill,but who is the lead dog and driller?They stated in Q report won't start drilling till 2nd quarter,not first.Are we at 300 million shares yet?Diamond Offshore has 138mil shares out,Hercules only 88mil,Continental 168 mil;Edex a possible 300 million and growing ; reverse split looks more and more likely! Jmho
Reason I ask these questions,I heard a huge number of shares have again been issued and now the transfer agent is gagged!;Ill. showed drillers moving on location but don't know which one could be for EDEX;can't find a completed producing oil well in Lodgepole formation in ND.Hard to do DD when a company surpresses all the facts,is edex a public company?Why gag,suppress and withhold info,never is bad news released,just BS hype.Feel sorry for those who bought the last 10 million shares at such a premium to the real market price.What % of these ILL.wells does EDEX get?Doesn't anybody want answers?
Has anybody heard how the drill results came out in ND by others on PIP identified sites?The Dec PR said results would be known in Jan. for several wells drilled into the Lodgepole formation?Who is the driller in Ill.and who is the lead partner and what is EDEX share of these wells?Were those 10 million shares that traded recently new issue?Nice move up on high volume.Why,when no news?
Production has started again in Turkey and many projects in first half of 08,plus value of products continues to increase.I think reserves will now start to expand.I rebought,GLTA
One other news item in Q report is that Mesa fell back to second quarter of 08,and $87,000 more will have to be raised to get through each quarter,of course minus the 2,000 income.Mesa,the carrot on a string,just keeps some chasing year after year!How many more millions of shares will have to be issued this quarter.Reverse split a sure thing!imo Also the ILL. wells that would be done in Jan,Feb,now will start in April,LOL,90 days to cash flow gone,and no mention about Tom foregoing pay,must of forgot and signed his check.Nice expense package as well!Who gets that interest on the loan?Bet it is Tom!
Glya,I understand.Can you tell me what is going on with the after market close, most days you see a large block sold for less than that days average.Today 406,000 shares sold at 25% LESS then the last trade.I quess I just truly don't understand whats up?I'm still learning.
They were a major partner,[wasn't it 38% once?]but it is becomming more diluted with time.And yes to answer your question,it is like poker if you have a chair and a chip,you are still in the game.
You don't understand if you just keep signing papers promising "that we will do this for that" and you own nothing but a copier and computer,what do you have?The Palo Duro papers for siesmic of $100,000 and PR to be under way was signed by EDEX's partner Victory and do you think there is any creditablity to that?Victory is also a partner in Mesa,another company with no assets but promises the moon.JMHO,And if asking if permits are in place to continue working is the wrong question then I'll continue to ask the wrong questions till I see paper work filed.glty
This well is horizonal,very expensive,in township 153 N,Range 91 W,EDEX's well is in T 139 R95,there are three wells to the east of this one and 3 wells to west,edex's is suurounded by 6 dry holes.No comparisions should be made,except there is oil in ND.File number is 16780 and I think edex is testing a diff formation.
Me too.
Go to New Mexico State Lands Office anyone interested in research of state leases with Roosevelt and Debacca Counties. The sale after the close is what worries me 700,000 at 6.9.And you are right price has held up very well,especially thruogh this dilution period, which I don't see ending soon.The reason I wanted to see EDEX name on something is do we have any assets or do we have to keep comming up with cash to keep an ever smaller piece of the pie.
Yes,all in who's name?I never found EDEX's name on one of them.Checked Debacca Co.found only geosurveys name and prices ranged from 4.46-20.93 per acre.Does EDEX own anything?
The New Mexico State Lands Office is the site to check on lease owners,I checked Roosevelt Co.,Also checked www.blm.gov/nm/ and found geosurveys had blm leases priced from $8-16 per acre all from 2005
Just talked with a division 1 field rep, from Hobbs NM but you need to check facts for yourself,Web site;www.emnrd.state.nm.us,then at top click on divisions,then oil conservation,look to left and click on OCD,then imaging,type in well api# 3004120924,every document filed is there.You may want to check out lease holders which is also available.The field rep.said a permit to flare or release gas is also required.If you find something interesting let me know.Also checked wording at edex "we have the right to drill on leases"maybe find out from Tom if they own any state leases within a mile or 2 of the Mesa drill site I can't find a one and went back to 2000.Some of Geosurveys leases went for only about $8 per acre,I was never able to buy a lease worth anything that cheap.
I should of said all state leases in Roosevelt County,which is where the best PIP signal ever was recorded.Did not check state leases out of this county.
On a more serious note,I checked all leases in NM on state land back to 2000AD and EDEX has no leases listed in their name!Geosurveys Inc owns all the leases on state land including the drill site at section 26, township 2n, range 29e, the Mesa drill site.They paid $18.75 per acre for the entire section.They have paid no gas shut in royalities and no permit to test has ever been issued and no well status at all since the Aug 28th 2007 application to cement behind the 8 5/8" casing to test the Queen sands at 1560 -1900 feet.I will have more info soon as to current status.Well info to check these facts are: well name Mesa 26 State #1, number 30-41-20924.State of New Mexico Oil & Conservation Div.Names to ask questions to are;Driller, United Drilling Inc,cemented by Basic Energy Services twice,spud mud Triple N Services of Midlnd,and Haliburton ran the 5 1/2 casing to 7,010 feet.Haven't the original logs none filed with state.Geo though was told it was a waste of time to test the deep zone which was barren except for water and Edex won't release the logs.Why?
Bullchit,I've seen numerous board members sued,and lost,they aren't just feel good telephone contacts for opinions and advise.Remember the NYSE board was sued for multi millions,there are responsibilities and liabilities for being a board member and you absolutely work for the company,leak out some insider info and see how the justice dept. interpets your non working role.
I quess he feels all those people who invested in Enron ect,rolled the dice and lost;teach them to believed any of those Pr's,or the Ceo statements!They desirve what they got,right?
I quess Clay doesn't understand if you are a board member you work for EDEX.
Clay is on Board of Directors,I think he meant to say he works with,and along side these fine men,and personally went to North Dakota back in August on behalf of EDEX.
Wow,sounds like clay jay found the niceest people in the oil patch,plus very knowledgeable and extremely honest and moral,with great respect for the enviroment and fellow co workers.Good friends to boot.
Do you fell the same about EDEX?They seem to have a simular story.They both issue all kinds of stock,put out vaque PR's,prove up nothing,and both are partners in Palo and Mesa.Reverse split for Victory and propably one comming for Edex.What your honest opinion of Edex's future?I know you no longer owns shares and left the board as moderator,but your opinion is respected.Thanks
If you read post 262 by our former moderator Lowman on the Victory energy page,thats how I feel.Remember Jon is a partner in Mesa,at least last time I heard.May have changed.
Ditto,and if you read post 18574 you would see that Tom is the last person to get news or info from!Buy on the dips!GLTY
What a way to lose half or more on your money in a the blink of the eye!Actually the stock has held up very well.It was .005 just weeks ago,now it is up; and consider that there are now 42 million more shares out and expanding,how many companies could announce such a dilution and see a rise in their stock price?
The dog is still on the hunt!He only looks like he is sleeping,step on the porch and find out!Isn't it funny that I posted no permit was filed to test Mesa and Geo responded,and what a response from Tom after I found out 42 million more shares issued,damage control,why didn't they post the facts first?Reread this post I am responding to!
Did you read the PR on the Columbian field,everything sounds good but the price of the stock went down.I think this is going to be a very profitable field and will wait for the price to appreciate substancialy throughout the year.Should of held on to TRGL it's over #8 but I sold to buy more GTRE.
Already 4 times daily trading volume,bet news next week.Good deal still!