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There has to be a well to PR!I believe the man on the ground in Ill.He looked for it and came up empty.
Yes I do.No well according to Ill.Dept of Oil and Gas,was completed in Jefferson or Clinton Co. Ill over the weekend or Monday.The Speiser#1 in Clinton Co is still on hold.Don't have a clue as to what Tom is talking about!The office manager looked for quite some time and then searched surrounding areas.Can't find a thing!Again according to my sources which is the district manager couldn't find nada,zip,zero,of course Tom won't give you "well name,permit number,driller,location,or any relevent facts.So believe Tom"he wouldn't lie" but I have serious doubts that a well was even drilled!At least this past week!
Is the share price giving you the news early?
Do I think it is unethical to verify,and confirm what should be available to all?NO.I asked you for names,such as partners,funding agreements,locations,anything but you never give us anything to confirm.I have stock in 3 other oil companies and none leaves everything to the imagination except you.Why?
Are the oil wells back on line or does the strike continue?
I hope the end is near but I fear that like every well done so far that monday will come with positive hype but no real answers.Then the test period will drag on and on for months and months and finally Edex will start talking about the next project.Maybe throw in a problem or two,like pump jack on hold cause an investor backed out,snowed in in ILL.Wouldn't it be nice to see fiquires or names,partners,well number,permit number,driller,logs,ect.anything that doesn't require blind faith and can be verified by a couple of phone calls.I called back last time and they told me days before that the last well was plugged and dry and I'll quess that I'll know again before results are posted here.
So,maybe it could be a positive?Also they have cash which could be used to buy distressed assets,but I see most companies are keeping a tight hold on cash otherwise someone would bid on this company as it is undervalued.JMO
Thats what scares me about South America nationalization.
Very insightful.Thanks
Dragon is wrong.Just like 40 cents before year end is wrong!This stock will be RS soon or die.No other choices!5% of Ill is nothing when divided by 350 million shares.Do the RS now!Or fold.If the company pays the 192,000 dollar loan due in full in 2009 with stock that adds like,well they can't do it! Because they are only allowed to issue 1/2 billion shares,so they must reorganize.The math says so.I have tried to fiqure out a method to pay debts but it is impossible.Even if Tom only takes $6000 dollars more for the next quarter and gets his $22,000 loan payed back that adds like so many shares it just can't be done.Fiqures never lie.There is no mathmatical formula that allows this company to survive in it's current form.EDEX total market cap is about 300,000 dollars.Why would an investor even deal with them?They could buy the whole thing and purge the company of this management team.
Well,Tom didn't touch on the RS or the stocks uplisting or why PIP failed or why no wells were drilled in Neb.or why the rig is not comming again.But in my opinion when I see an ask of .003 and bids well below that;you absolutly have to do a RS.When you have 350 million shares out,you have no upside potential and when you can buy 300 shares for less than a buck,you must do at least a 350 to 1 reverse split.Then you'd have a managable amount of stock out with some upside potential and a stock you can use as currency to fianance projects.It's a no brainer.Now with months to go till a hole is dug,what will even keep it in the thousands of a penny range?JMO,and I could be wrong.Then if EDEX hits something the stock will have meaning.
Wow,I'm going to wait and see if I can get it cheaper.The PE is too high compared to the sure oil plays with divs.They are paying you 4-5% to wait for higher oil prices.I still like GTE very much,it is just the wrong time to buy almost anything.
Yes,you're right I've been in and out 4 or 5 times and will buy back again at around $2.I just can't see it going higher anytime soon.Only Exxon has held somewhat and COP has a PE of 3.7,so GTE which doesn't pay a div and has a higher PE will trend down.COP div is over 4%.JMO
I agree,100 shares bought today at .001,Isn't that a dollar?New blood comming in.LOL
Y're right,buy more on dips!
I agree,so even though this is a great company,with cash I sold hoping to buy back again at about $2,it has worked before.But I believe if oil would turn around this company will fly.I just have lost too much money with the buy and hold theory.The news about merger is wearing off today,down significatly.GLTA
Yeah,I think it is a first step,but not the final step.Airbourne surveys give you a clue,but I don't think Exxon or anybody thinks you can fly over the USA and say their is a field and state that with the accuracy that PIP claims.But,if you then use 3D siesmic you improve your odds but still not to the 70+ % claimed.Do you know if in the next month we'll be a fully reporting company like promised?I'm also monitoring Ill and I'm not sure with $50 oil and a tight economy that we'll see any drilling into this formation which so far has proved barren.As of last call US Oil and Gas hadn't moved onto site.JMO
I've never said this was a scam,but many false representations were made,one of the greatest was the ability of PIP to find 70%+ oil deposits.This idea of people investing in a pure wildcat,roll the dice concept was countered by we can't miss.The odds of comming up dry using a 70% plus techology,seven different times in a row are .003%.Now thats not gambling,if you knew that you would win the lottery 7 out of every 10 times you bought a ticket,I would never say; well we all knew the odds and lost,I'd be calling the lottery commission and attorney general asking What the ?
With 3 dry wells nearby and one well in close proximity yet to be drilled,I think it would be prudent to wait for the Speiser #1 to be drilled.If this Clinton CO. well testing the same formation has good shows ect.,then drill, if not maybe save your money.This is a U.S.Oil and Gas well with the permit #59735.Keep a close eye on it.I would quess that this field has no chance of being a field with 50 to 100 locations like originaly thought.What happened to those wells that will start in April in Neb.?
Yes, it is, and stock can't go up!So I quess I'll buy a little more hoping for a rebound.Great company,just in a terrible market.
Called;and the Speiser #1 hasn't been drilled yet.This well is in Clinton County,Don't know when.I might try calling driller.
I think that being abreast of what is going on gives you an advantage in stocks.I try to tell you what I know then you can react any way you want.Told you the first well was dry in Il.and though it was bad news you were informed a couple of days earlier than if you waited for the press release,and could fiquire out the price drop.Same in ND.If you do some DD you may know whether or not this formation is productive by watching the well that is in close proximity to our next hole,I will and if it succeeds then I will have bought back in before you have your morning coffee.If it is dry I will also have saved some money.Facts are facts!Don't fall in love with this or any stock.Sounds easy and I hope some day I can follow this simple advise.I can't follow you advise and shut up,and will post the results of this well in Clinton Co.soon,but if you don't read my posts then you will think I have{shut up}.Glty,Another fact is that Edex has a $192,000 note due in full in 2009 at 15% interest and has according to last quarterly report less than $100,payroll and office expenses can't be met either,last 3 mos and next 3 mos, except thru dilution.I speculated on a reverse split with this in mind.
We have a stake in only 2 of the Ill. wells.The first well that was dry we had no part of.Maybe people are thinking of the 3 wells we were suppose to drill in April in Neb.Edex has an option to develope other PIP identified sites in Ill. within this 3 county area.We paid a few thousand dollars and Edex is paid up.We didn't want to contribute to the Jefferson Co. well.Next well I believe is in Clinton Co. and another firm should be finishing up a well testing same formation and depth this week in Clinton Co.If it is dry combined with the first 2 maybe the lead company will just walk away.
Deja Vu all over again,PiP proved useless,and I knew this was the well location I reported on months ago and was tried to be thrown off and told not even in Clinton County.Well at least before year end we will be a fully reporting company,or we will have a new moderator.RS is comming very soon.At least a thousand to one.JMO
I believe I have been very quiet,and I think I know which post you are talking about and I didn't write it!25906?May you find peace in reflecting upon your lifes together.
Just called back to Ill.the economy is slowing including the oil field and permit #59735 hasn't started drilling in Clinton Co.yet,but movement of equipment may have started,they just finished a well in Washington Co.The Speiser#1 well will be drilling to 3,000 feet and test the same formation as the well EDEX has an interest in and is also in close proximity.I was told to call back in 2 1/2 weeks.
Ditto on that!I just bought another 250 shares and lost money.This company will be producing 15,000 barrels a day very soon and making all kinds of cash,but now investors are throwing the baby out with the bath water.Everyone needs cash and out goes everything to raise it.I've become cash strapped also,but would buy more if I had a winner to sell into this market.Great company,and anything close to $100 a barrel is just gravey.How can GTE go down i can't explain,in 16 months won't this company be making close to a dollar a share?Every analyist is forecasting 7-8 dollars a share.That is onlya PE of 8.WoW,I guess they must be seeing $45 a barrel in the future.
Dragon,I have never said this is EDEX's well,I said U.S.Oil and Gas was drilling in Clinton County,Il. near the proposed site.Got that!Near and different company.But testing and drilling into the same formation.One more time,near and different.Ok,and these are the facts unlike your wishfull fairy tales and are absolutly true and if you go to Ill.DnR site and read the well log,quess what,you'll have done your first DD and be able to read it yourself.
Just a little note,U.S.oil and gas has started a well in Clinton County close to where EDEX's proposed well site is.The well should be close to bottoming out soon,it will test the Silurian formation at 3,000 approx feet,contractor is Mitchell Drilling.If it hits it might be good sign for EDEX and a miss will of course will surely be bad,the company is out of Salem,Il.If I was an investor I would keep a close eye on this!Permit #059735,reference#111876,well name Speiser#1.
I have no clue!I rebought in the low 4's and I believe that is a good price,but I never thought we needed to have $100 abarrel oil for this to fly,it just helped launch this company.If we triple oil production and oil goes down 30% isn't it still worth $7 a share?When I first bought in it had no profits.Let's wait till after merger and see what happens.
Well I bought back in too early I didn't see it going this low.Also thought we'd see a PR.I believe it is still a good buy and getting better wished I'd saved some cash.
Thanks,and I agree Mesa could of been proved,with all the payroll,rent and car expenses over the last 2 1/2years,not to mention all these worthless chit plays.But do you think the results are worth getting?This company maker "Mesa" is on the backburner for a reason!Would you kill the golden goose?
Even a blind squirril finds and acorn once in awhile and I thought I really screwed up when it was upgraded to a cat.4 storm,we all have a winner here in GTE and high oil prices just helps this company get the needed capital to further expand on its projects.Oil can't stay this high and economies expand but I didn't buy in because of hi oil prices.This is a new company fortunate enough to benefit from these price to become a player in the South American oil fields.I believe the heavy crudes in Peru will make the reserves of GTE unbelievable in next 3 years.Share price will also grow unbelievably,just with a little lag time.glty
Well Stated.What is it worth?Thanks.
I told you I'm out now,I kept falling,like you for his BS, and got in of course cheaper than ever befoe, almost zero,but when I saw no action in Illinios I sold and a few days later Tom verified what I suspected through DD,more delays,no rig,different site,ect;yes I lost some money but never again and I don't want anyone to believe this leopards spots have changed.Tom doesn't know what the truth is.He never knows or admits to what is going on till it's public knowledge,then does damage control and puts on his positive spin.New date,bigger targets,financing,new fields ect.and all end up empty hollow promises,3 times he has told me I'd be proved wrong in days!Tom David Lawrence,Larry Dave Tom,Larry Thomas David,Dave Lawrence Thomas,maybe this leopard just moves his spots around.
Your right,but I got lucky and got close to $5 a share and it was at 4.45 a share and tommarrow I'll rebuy if it falls 30cents more.It is a great company and if I can play the ups and downs and get more I think I'll be rewarded in Oct.Trend now is down,but prospects are bright and I want to own it;I just gambled that the Hurricanne would be a dud and it was and swept all oil stock down>GLTY
Top,Another new all time low today!You've followed Tom blindly,thinking he is the only true source,you predicted dividends years ago of many dollars a share,multimillion dollar buyout of Mesa based on Tom's BS, anyone who reads your posts should go back a couple years then they will know you have never been right!Your opinions are just that and from a man who constantly proves himself wrong; your support has become so redundant I almost think you are Tom! Are you? Maybe you shouldn't wait to be proved wrong on this full listing of EDEX which will never,ever happen and step down NOW!Abe Lincoln said you call fool all of the people some of the time and some of the people all the time and I put you in the latter category.Anyone,ie Tom,Tony that states they have found numerous new oil fields,expanded fields by hundreds of wells and their Pip is 80% sucks cesful should have no trouble in getting financing,if they only got a 1% royality they would make Bill Gates and Warren Buffet look like bums,neither can finanance flaring Mesa which would if you believe their BS make multi millions in cash for them again.But instead we need to pay Tom's car and apartment,phone bill,ect.he has 30+ years in the oil field and can't find one friend,acquantance,bussiness partner,financier,or company to pay the measly sum to develope Meas?Maybe they know him too well!He'd said he'd make them all rich?Right!
Well I respect your opinion and hope that you see clearly soon,I believe your an honest man,but have not objectivly viewed Tom or EDEX and any facts that prove otherwise you simply disregard.I can't believe we had to get back in line for the rig we were waiting for to begin with, because we moved the site over a bit.Each quarter costs shareholders many million of shares or $128,000 dollars, when I bought in there was only 57 million out!When you resign from your post because EDEX doesn't meet the fully reporting stock requirements,I know you will do so gracefully and without hesitation.
Interesting we couldn't drill because it was too wet in March or April but this farmer knowing we were going to drill found a way to plant corn in a field we were going to tear up,and it just happens Tony walked out into this corn field and found twice as good of a spot to drill,I think PIP is getting twice as strong of a signal because of all the corn oil! LOL,I better check my pants!And now were back in line to get the rig,why didn't we just keep our spot at the front of the line and have the rig now?Weren't we going to use it anyway?
I think a lot of it is the Huuricane,so I sold over 2,000 shares hopping to buy back within weeks at a lower price,crude will drop or rise in tadum with gte.Until after the merger and more results.I see good buying ops ahead unless we lose La. and Tx.glty