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How can Fox stop selling working interest without making enough from production to pay the present commitments?
Correction: PR expenses
Looks like PWDR will still sell WI. Who put out the false info that PWDR will no longer sell WI? WHY did PI expenses increase so much and what did we get for it?
With the SP not dropping below the price already obtained before Fox announced the need to restate the earnings means to me that whoever has lowered the SP by selling or whatever knew about the misstatement much earlier.
Yes, I had checked on Yahoo and could find nothing. So I asked you.
GOLDMAN007 would you please explain what happened to make the share price drop from 0.16 to 0.11 just after 11:00 today? LP
The report "One well in production" at Brookshire and "Work is in production on the development of the project and is expected to be reflectedin the January production. January production is estimated at 3000 barrels of oil."
I is my understanding that BOEPD is based on energy content (BTUs) not selling price as you seem to be using. LP
Milen They can sell the first 200mil at any price they want to but before they can sell the 2nd 200mil shares they will have to pay 0.25/shr or $500,000 for them.
MILEN the way I read the PR is PRVB gives Texoma 0.5 mil in cash and 200,000 shares of stock valued at $1.00 each. This is the 2.5 mil payment for half of the drilling company. In addition PRBV gives Texoma an option that doesn't have an expiration date to buy 200,000 shares at 0.25/shr which will cost Texoma 0.5 mil when this option is exercised. The PR states:
"The agreement also provides a warrant for two million additional shares of Powder River at $0.25 per share of restricted stock."
If I am reading this wrong I welcome a clarification.
The second 2 mil cost them 0.5 mil, therefore they would have to get 0.625/shr to get their 2.5mil.
"The agreement also provides a warrant for two million additional shares of Powder River at $0.25 per share of restricted stoCK."
The shares will not be sold on the open marked for a some time.
jktded, I also like the plan to sell some working interest to fund new projects. That is one of the main reasons I invested in PRVB. I just hope they do not sell more than 25% as I have been led to believe from various reports I have seen or heard.
LP
jktdet, thanks for the summary. Did they say anything about the working interest sales? TIA LP
jktdet, at the meeting on the 30th could you ask if the WI to be sold in each project will be limited to 25%. The answer might give us a better feel for the % of each project to be kept. TIA LP
I think your earnings estimate is at least a factor of 2 too high. First, with pipeline's charges PRVB doesn't get the Bloomberg listed price. Then there is the 25% working interest and the royalty payments. WE all shound know by now that Fox reports earnings much lower than any projection made here based on the limited productions numbers available and unknown share of sales we keep.
Thanks it worke. I ignored the poster who Moderates 86 Boards.
Where is ignore? I can't find it. TIA
Earnibgs of 4 cent in 6 months is an annualized PE of 3. I have been a share holder for some time but don't have much to add so don't post often.
Hillzman, the 10K gives the 'net' O&G revenue. Is the gross revenue reduced by the production, drilling & etc costs to get the 'net' revenue? If not, what is the net revenue? SEEKER, could you also comment on this? TIA