Bakken Energy Corp. (BKEN)

[DragonBear]

Where are you getting this from?

The appraisal DEDUCTED the costs for capital expenditures from the valuation. So no, that's simply not true.

Doesn't matter. The appraisal was based on projected plant capacity and function for refurbishment EcoDomaine had planned at that time. The appraisal came to be based on something which never happened. You just don't remove the consumer fuel component, and then claim no effect on the beginning appraisal.

Wrong again... The reason why the plant 'is not capable' of refining is because the refinery 'RENDERED THE EQUIPMENT' inoperative. NOT that the equipment doesn't work or is non-existent. INFACT, this appraisal deducted necessary capital expenditures needed to continue operation from the valuation.

There is no evidence the equipment providing gasoline refining capability ever was in an operational state, or even present. Disabling a sub-component as a condition for the permit does not imply all the parts required were there in a fully functioning state ready to go.

The permit is very relevant. Would a company upgrade a refinery first, and then ask for a permit to validate the newly installed equipment's function? Taking a chance the State would not approve the permit for distilling consumer fuels? Or would they pursue the permit first to distill consumer fuels? Then proceed to install the required upgrades for the functionality? EcoDomaine apparently got as far as a State roadblock on the permit for consumer fuels, and had to retreat. No evidence they expended capital in front of the permit.

The fairy tale by ORFG management seems to be a $16.5M valued property listed at $3.5M, worth a claimed $70M when in operation wasn't worth a bid from any of the larger oil players already in the area. A refinery just rearing to go, needing only a few pollution tweaks, and a new permit.

Now why would the larger oil players already present pass on this property for the past 4 years? Was the refinery "cloaked"?