InvestorsHub Logo
Followers 0
Posts 803
Boards Moderated 0
Alias Born 12/08/2005

Re: Joe Burmeister post# 12865

Tuesday, 08/22/2006 11:07:46 PM

Tuesday, August 22, 2006 11:07:46 PM

Post# of 35788
joe - I did not get much out of him. Just more defined words unlike Boyd. I for one would not invest anything is this at this point because the stock is entering a critcal phase. Furtcash and eatmenasdaq say the LOI means nothing it's Grimes that will make money here. Grimes ? Grimes has got 2 wells live in 18 months. 2 more maybe online in the next 2 months. So we have four wells live in 22 months. Understand the pump pump method they use. In the event the LOI fails they want to influence people into the pump that Grimes is the companys salvation. I don't see it this way. I see the East Texas LOI as the only factor that will save the share price from ultimately going sub-penny.

To me confirmation to buy must be met with two factors:

1. LOI is confirmed. Then we have 2 workover rigs and 1 drilling rig available. What this will do is prevent the company from making up anymore EXCUSES as to why they are not working on a project. Hydroslotting will require a compressor. Compressors are available everywhere. Workover rigs are not. We do not need to depend on Schlumberger for a compressor. Do not listen to eastmenasaq or furtcash. The major work in hydrlostting involves the work in preparing the pad and dropping the device into the well. This involves a workover rig. period. The actual slotting takes 2 days depending on how many formations they want to access. This is where the compressor is needed.

2. I would not buy anymore shares until we see a steady uptrend in price and the price stabalizes at a price of not less than .04 cents per share. Like my freinds are preparing to do so. They are waiting to buy 8 million shares but will not do so until these two events have occured.

People say wait for .04 cents, that's stupid your giving up all those gains when you could have bought at .017 tomm. Sure. That is the risk we take. That risk at this point is too high for possible payoff now due to the unfavorable circumstances now present with this company.

Buying at .04 after some consolidation you will have a better chance to make more money because the risk factor has been decreased because we are far away from sub penny and then.

Understand this. We go sub-penny. It's over end of story. Sell move on lick your wounds. It will not come back ever. Trust me. I know the penny pinkies to well.