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They definitely have alot of things going. We need the weather to clear. That will help speed things up.
It would seem so. If they do hit that Iwo #2 at that high flow rate that will ramp up production fast.
There wasnt much in that update. I guess that was an interim update. But there was some potentially good news in this release.
In the previous PR the Iwo #2 was projected to be an oil well which would flow at 10 to 20 barrels a day. Now they are stating that they also found some natural gas. And based on the high gas pressure they hope that the well could flow in the 1500 mcf/day range.
If that turns out to be the case that is equal to about 200 barrels of oil equivalent per day (boed) from that single well.
It would have been nice to get an update on Iwo #1 which was anticipated to be a 70-80 barrels of oil per day well. And on the other wells. So yeah, it was a bit fluffy and lacking in information.
But the weather has been lousy. That has been a major issue. It would be nice though at some point if they gave us a list of all of their wells and what the flow rates are. And gave us some additional information like what happened with Questar. Maybe at the time they wrote the pr they were still awaiting a decision from Questar on what their decision was.
Back to waiting...
Ok guys I feel much better now. I am happy again.
Goooooo RGNO Gooooooo lol
Ok this is my last bash for the day. But what happened to this first quarter report? Are we not getting this because of the stupid restrictions? Screw the restrictions and lets get on with it. (There I feel better now lol)
Posted by: DFDSQUAD3
In reply to: stockfishin who wrote msg# 8110 Date:3/15/2007 1:41:02 PM
Post #of 20672
Just talked to Jerry in a lenghty discussion on the company. i hope i got all the questions answered..... yes the share holders can expect a first quarter report, it may be a little late but they company will have one. there is a set date but he could not reveal the date. they are pumping oil and natural gas from thier wells. numbers will be put in a PR when they are accurately available. As far as the new state of the art equipment they are still awaiting the green light to use the equipment. Current cash flow will be released in a PR with 1st quarter numbers. RGNO has no debt. Some of the companies buying from RGNO are DUKE, scissortall, sunoco independant buying. the numbers on reserves will also come out with financials. a NOBO list will be being ordered. you should continue to invest with RGNO.... it is a start up pinkie has no debt and has concrete short term and long term goals. RGNO would like to uplist to NASDAQ and would like to do so within 2 years. an investors meeting will be held. he is working on the details he has/or is obtaining a current shareholder list.any investor is more than welcome to tour and see the sites any time just get with Jerry. I hope this helps all of you guys and i got answers to all the questions sufficiently
This price is absolutely pathetic.
Thats why they call themselves Regions Oil and GAS.
Jan 30 2007
Regions Oil and Gas Yields Huge Success Bringing First Well of 2007 On-line
DALLAS--(BUSINESS WIRE)--Regions Oil & Gas, Inc. (Pink Sheets:RGNO - News) announces today the final completion and testing of the W D #1 gas well in Beggs, Oklahoma, has been completed. This well tested at approximately 273 MCF per day and has been tied in to the local gas gathering lines for production.
"The field (location of well) is very promising. We thought we could make a well here, and now we have proof of what is actually in the ground. After it settles in, we are planning on completing a fracture of the formation utilizing state-of-the-art technology, which should further increase production. Potentials are as much as 1000 MCF per day.
"Also, we are currently formulating plans for the drilling of at least two more wells in this field. We should begin work on these in the next few months. Our relationship with Seminole Oil is beginning to show its value; it ensures we have a rig, the necessary drilling equipment and the expertise to complete a project when we need it. I am very optimistic about this well and the field's future," stated Jerry Griggs, CEO
Are you kidding me? Yeah next year we will have them take pictures of every single well also......
007stockspy they are very well equipped to handle natural gas. That is why they call themselves "Regions Oil and Gas".
The first well they announced in January of this year was a natural gas well. They are targeting both formations.
Yes, its good to have both. imho It makes them a more diversified company.
Thanks Strongus for taking the intiative. Some energy companies focus specifically on oil. Other energy companies focus specifically on natural gas. And some companies focus on a combination of both. RGNO focuses on both oil and natural gas wells. Some wells will be all oil and some will be all natural gas and some might be a combination of both. Natural gas is a clear gas that is used to heat homes, cool homes, burn on ovens etc.
Natural gas is believed by some to be in short supply in the United States. I believe that any price above $6 per mcf ( mcf = 1000 cubic feet of natural gas) is considered a good price for the drillers. Right now natural gas is trading around $6.60 per mcf. Here is a link which describes what natural gas is. The well RGNO announced in January that came in at 273 mcf/day was a natural gas well. They probably found some natural gas wells where they didnt expect to.
http://www.naturalgas.org/overview/background.asp
(Another poster had posted this earlier so I stole this from them)
We are in the right business though:
IEA sees oil supply crunch looming By Alex Lawler
Mon Jul 9, 9:02 AM ET
LONDON (Reuters) - World oil demand will rise faster than expected to 2012 while production lags, leading to a supply crunch, the International Energy Agency said on Monday.
In its Medium-Term Oil Market Report, the adviser to 26 industrialized countries said demand will rise by an average 2.2 percent a year between 2007 and 2012, up from a previous medium-term forecast of 2 percent.
The outlook, which updates an IEA forecast last issued in February, coincides with a jump in oil prices to more than $75 a barrel, closing in on a record high near $79, on concerns of a tightening market.
"Despite four years of high oil prices, this report sees increasing market tightness beyond 2010," the IEA said.
"It is possible that the supply crunch could be deferred -- but not by much."
The IEA's previous Medium-Term report called for world demand growth of 2 percent a year between 2006 and 2011.
It now expects global demand to reach 95.8 million barrels per day (bpd) from 86.1 million bpd in 2007. The forecast assumes average global GDP growth of 4.5 percent annually.
"The results of our analysis are quite strong," said Lawrence Eagles, head of the IEA's Oil Industry and Markets Division. "Something needs to happen."
"Either we need to have more supplies coming on stream or we need to have lower demand growth."
The Paris-based IEA also said additional global refining capacity over the next five years will lag earlier expectations as rising costs and a shortage of engineers delay construction.
It said world production of biofuels would reach 1.75 million bpd by 2012, more than double 2006 levels, but the fuel will remain marginal as economics hobble further growth.
LOWER OPEC CAPACITY
Oil prices pared an earlier loss after the report was released. Brent crude was unchanged at $75.62 a barrel as of 1247 GMT.
The report points to a greater reliance on the Organization of the Petroleum Exporting Countries, source of more than a third of the world's oil.
While foreseeing higher demand, the IEA expects less supply to come from producers outside OPEC and the agency also trimmed a forecast for the 12-member group's unused production capacity.
"A stronger demand outlook, together with project slippage and geopolitical problems has led to downward revisions of OPEC spare capacity by 2 million bpd in 2009," said the report.
The forecast assumes no net expansion of capacity from Iran, Iraq and Venezuela and that the 500,000 bpd of Nigerian production that has been shut for a year will not reopen during the next five years.
Ten OPEC members began cutting production last year to stem a drop in prices. The IEA in its Monthly Oil Market Report has for the past four months urged OPEC to open the taps to avoid over-tightening the market.
Some analysts say the agency is being alarmist and that its warnings about supplies are actually leading to higher prices.
"The International Energy Agency has put such a fear premium in the market that crude futures remain bought no matter what," said Olivier Jakob of Petromatrix.
The IEA said fundamentals of supply and demand are prompting price gains.
"The simple thing is we are there to project the market as we see it," Eagles said. "The price response is due to fundamentals. We are simply pointing out the fundamentals. That's our job."
PLATEAU OIL
The IEA trimmed its forecast for supply from non-OPEC producers by 800,000 bpd in 2011, partly because of project delays, and touched on the thorny subject that oil supplies are nearing a peak.
"Certainly our forecast suggests that the non-OPEC, conventional crude component of global production appears, for now, to have reached an effective plateau, rather than a peak," the report said.
Falling output at ageing fields and setbacks such as 2005's hurricanes in the Gulf of Mexico have slowed growth in non-OPEC output in recent years.
Lower supply from non-OPEC countries and rising demand will boost the requirement for OPEC oil.
The IEA said demand for OPEC crude, or the call on OPEC, will rise to 34.7 million bpd in 2011, up 1.3 million bpd from the previous projection.
Well I dont know if that is what Jerry is doing I certainly hope its not. The only way that would be the right thing to do is if they expected the restrictions to be lifted shortly. But according to wildbill the brokerages can restrict a stock anytime they want without good reason.
So my take is that the more information that Jerry releases the more credible Regions becomes as a company. And the more credible Regions becomes the more difficult it will be for the brokerages to restrict the stock.
But makesumgravy and wildbill know more about restrictions than I do and are the experts on that. I basically think it complete bs that these brokerages can get away with this.
Great and I am glad to hear that and I believe what he says. But I certainly hope that Jerry isnt witholding or delaying information from us just because we are on restriction at a couple of brokerages.
IMHO that is not a good business decision because in effect he is letting the brokerages dictate when news is released. And we all lose in that case. The intelligent thing to do is to release the information as they had originally planned. That will make ertade and ameritrade look foolish when they have to explain to their customers why they restricted trade in a rapidly growing, debt free, US oil and gas company.
That pretty much sums it up in a nutshell.
The difference though is that HMGP got the share price way up by releasing information on reserves etc even though they are a pink. So it is much easier for their shareholders to be patient when many of them are already up 500% to 1000%. I would be patient too if I had already experienced those kind of returns lol.
But yes, RGNO is still in its infancy.
And some dont feel it is worth the expense of becoming a reporting company. Especially if you are a small company. I can understand that point of view also. Personally I am neutral on the issue. Here is a post from a poster on another board saying why he would prefer that his company, HMGP, not report.
"Personally, I'd prefer to stay on the pinks for some time. The expense of sox just isn't worth it. HMGP needs to continue developing assets beneath the radar for as long as they can, then take the lid off the secret and let others pay the premiums."
I dont want to be kept in the dark though either. So I would expect some information to be made pucblic.
Yeah that and getting the restrictions off would help.
So yes DFD you were right imho. And your answer was to the point. They manipulate it to keep it in a range.
Thats for sure. So much for free market forces. I thought buying should move the stock up and selling should move the stock down. Doesnt seem to work that way.
(Well wait, I take that back it works when people sell)
But in sum I agree with all of you guys about mm manipulation. They try to manipulate to keep the stock in their desired range imho.
Yes I stole my last line from you in your post lol. I hope you dont mind.
BTW I dont think all of the wells that were mentioned in the last PR were priced into the stock yet.
The Iwo lease was not operational yet even though they mentioned some numbers and the Gua numbers were not listed yet. So imho those wells are not priced in yet.
And just so you know, when you are doing market cap calculations it doesnt really matter if the shares are restricted or not. Market cap is based on the number of shares outstanding. It is not based on the number of shares in the float.
Market cap = number of shares outstanding x share price
The market cap is what the company is being valued at in the market place or what the company is worth.
So any time you increase the number of outstanding shares that is considered dilution. Im not bashing but that is the fact. Sometimes there are good reasons for issuing shares (for acquisitions, etc) as long as it doesnt become a habit.
"Well then why did the stock price go down since the last pr?"
Remember:
market cap = share price x number of shares outstanding
Prior to the last PR we had 167 million shares outstanding. And we were trading in the .025 to .03 range.
So 167 million shares x .025 price = $4.1 million market cap
167 million shares x .030 price = $5.0 million market cap
So prior to the last PR we were being valued as a company in the $4 to $5 million range.
Then the new PR came out which announced some new wells but also announced an increase in the number of oustanding shares and we have been trading in the .022 to .03 range.
So 287 million shares x .022 price = $6.3 million market cap
287 million shares x .030 price = $8.6 million market cap
So since the last PR the market makers have valued the company in the $6 to $8 million range. But because Jerry increased the number of outstanding shares the share price fell even though the value of the company went up.
If the outstanding share total had remained at 167 million and the company were valued in the $6 to $8 million range we would have been trading at .04 to .05 after the last pr.
Hopefully this was a one time increase in the number of outstanding shares. More wells being brought online and producing will cure this fast.
Maybe the marketmakers feel that the company is worth $6 to $8 million dollars on the basis of previous PR's and well production. So until Jerry releases production numbers for more wells we will be stuck in this range. And the marketmakers will do what they have to do to keep us in this range. Because the marketmakers are doing what they are supposed to do. Set a fair market cap for the stock.
Right now they feel the market cap should be in the $6 to $8 million dollar range. Prior to the last PR they were pricing us in the $4 to $5 million market cap range. So the value of the company is going up as more wells are announced.
Yes it seems that way cuppy. All of this rain should be in the southeast. BTW thanks for taking the time to post the pics.
I know, in all seriousness the weather has been absolutely atrocious.
Look, this is the bottom line weather wise. We have a low pressure system which has been stuck over Oklahoma and Texas for the better part of three months. Because it is below the jet stream it is cut off from circulation so there is nothing to come along and kick it out. What we need is for the jet stream to dip down, pick up the low pressure system and move it east to the Southeast region of the country where they need the rain. Then we need a high pressure ridge to build over Oklahoma and Texas. Apparently the low is supposed to slide to the east and the weather is supposed to clear a bit for the next few days.
I cant believe how long it has been raining in Oklahoma and Texas. It has virtually been raining the entire time I have owned this stock. The people who live in those states must really be on edge from all of the rain. Last year at this time they were in a drought. Quite unbelievable.
Look Katrina, I might decide to start ripping into Jerry too if he doesnt come through. Right now I believe he will.
Well I have to give u credit. At the very least you are entertaining. You are probably really a guy. I dont know too many women who talk like you.
Stop sniffing the pepperoni Katrina and get with it. LOL
Yes we shall see. And thanks for your previous posts on forced pooling they were very informative.
The market cap has ranged from $6 to $8 million since the last PR. This is in line with the estimated range that it should be trading at based on actual producing wells that are already online mentioned in previous PR's (which was about 4 producing wells that are online). As of the last pr the Gua #1, Gua #2, Iwo #1 and Iwo #2 were not hooked up yet and are not priced into the stock yet. Prior to the last PR it was trading in the $4 to $5 million market cap range now its in the $6 to $8 million dollar range. As new wells are brought online and new production numbers are announced the stock will warrant a higher valuation.
As far as the forced pooling, we simply dont know enough about it yet but are awaiting a PR.
You do John? Then explain this quote from the last PR:
"The procedure of forced pooling, with the intention of engaging Questar Exploration & Production (NYSE: STR) and others, has started. This forced pooling process relates to mineral rights located in the current Regions Oil and Gas Wilcox field."
THIS FORCED POOLING PROCESS RELATES TO MINERAL RIGHTS IN THE CURRENT REGIONS OIL AND GAS WILCOX FIELD.
Katrina, Do I need to go back and post to you snippets from various PR's where they clearly say that wells or property or new leases belong to Regions? I have already done that on multiple occasions. Do I have to do it yet again? They CAN be held accountable for what they have said in PR's.
I really dont feel like doing that yet again. But this is what you do. You get knocked out on one argument and then you move on the next. Then after you get KO'd on that argument you move to the next. Like I said. Your problem is you stray too far from your original argument. If you would have said all along that Jerry needs to give us a list of wells and leases that belong to Regions guess what? We would all agree with that. We have all said the same thing.
But then you wander off and get ridiculous saying things like Jerry doesnt exist, Jerry is a child molestor, Jerry is lying about a securities license, there is no such thing as a Series 22... etc etc
Try keeping it real and to the point. Yes, Jerry needs to give us a list of wells and leases that belong to Regions. The fact that we are into July and it hasnt happened yet is ridiculous. So yes we agree.
The difference between you and I on this one particular point is you feel there is some sinister reason behind it and I feel that there is some paperwork that needs to be cleared first and that is the reason it is not done.
I have her on ignore. But for the time being I have the "Ignores Off". And that will continue for the foreseeable future. I have decided to stick around. Thats called the bait and switch. I baited her into thinking I was leaving. But I really wasnt. There will be no lightning up.....
That is very apparent. BTW, I chuckled at your previous comments that cell phones are usually given to company employees that come up with the name of the company when you call the number...
BS, I have worked for multiple companies and even when they have given us a cell phone to use the company name never showed up on the phone. Just my own name when a customer would call. So that is ludicrous to think that anytime someone uses a cell phone to answer a call that the company name should appear. It simply is not true.
I have a suggestion for you, since u dont want to call. Take the initiative, go to Texas and visit Jerry and take a tour. He has said that he will show the leases to anyone so take him up on the offer. And ask him for his ID if that makes u feel more comfortable. As for the office name and number it is listed right on the Nevada SOS filing. So that makes it official now doesnt it?
Yes there are numerous other companies working out of that office. It is a virtual office. Get it? Why should a company this small use expenses to rent their own office and hire there own secretary and pay monthly bills that are exhorbitant?? The answer is they shouldnt. They should use the money elsewhere. So I dont have a problem with them being listed in an office with numerous other companies and having one secretary. It happens all of the time.
So here is my advice once again. Go to Texas and visit Jerry first hand. And ask him for his ID. And while your at it tell him to spend less time on the phone and more time putting things in writing. I am just as sick as you as Jerry said this and Jerry said that.
(And you did know about the security 22 because right after you posted your skepticism pennyjunkie posted a link which explained what it was. And yet what did you do? You kept at it for another two hours.)
One last thing...
If she really wanted to know the answers to some of the bs that she brings up then she would take the steps necessary to get those answers.
The fact of the matter is she doesnt take the steps necessary to get the answers because she doesn't want the answers. (much like the Seriess 22 debacle). She wants to stir up trouble imo.
Why hasnt she called the company for answers?
Why hasnt she talked to Jerry for answers?
Why isnt she a paid member of ihub?
Why wont she give pizza her email address?
Why wont she give him her phone number to discuss this?
Why? Figure it out.