Bayport International Holdings Inc. (BAYP)

[DragonBear]

Employment in oil and mining again fell for the fifth month in a row

There's all kinds of negatives in the oil patch currently. The oil frac industry has been in hunker down mode for the past 6 months. Cutting drilling rigs, their Cap-Ex budgets for drilling, and development. Those with hedges at $90 already in place being helped out by that. All waiting for oil to return to $70, and staying there, before cranking back up.

Meanwhile against this background we have the comedy of BAYP. They buy 3.75% interest in wells that at last report produced total 3.2 bopd. Wow potentially $70K/yr at a price of $60, minus the salary-maintenance cost, leaving a few hundred for BAYP's 3.75% share. And the BAYP cost was ... FREE! No cost stated to purchase the 3.75% interest. Then there are the FREE plugged Okie wells. BAYP really taking the oil patch by storm! LOL

Finally we have the JV adventure already convoluted with the scam recycling of frac water trying to germinate. That's already DOA. Please Shameberg try to pump the frac water scam angle in some PRs. It will be too much fun.