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Re: paper_doctor post# 505

Wednesday, 09/27/2006 3:46:53 AM

Wednesday, September 27, 2006 3:46:53 AM

Post# of 6708
paper doctor, well its a good thing it is late at night here on the Left Coast and my A's won the division as it will temper my comments on your posts I have just read through.

I got confused as at first, I thought maybe you were trying to lament not owning Tango along the way but then most of your "reporting" was so old that the links didn't work and I dismissed the idea. I am familiar with those links you referred to relative to Tango and even others as I did my DD pretty thoroughly when the shell became available for the O&G entity that has gotten off to a running start in just a few months. It is very clean as best I can tell and I have seen the opposite way to often but these shells are a necessity for young, emerging companies. The world of IPOs is very limited, costly, and seldom used tool as I'm sure you are aware. The personal references you make have very little to do with the company today although I'm sure they are share holders and could consult in some areas of the companies' development. Canadians? - don't think so unless they are also shareholders. RB post many years old that says little and really can't be brought up? What's the point? The key person in the field for us is Eric, COO, and is a hard worker, producing great results, and is spoke of positively by those doing business with Trophy these past few months. Others both inside and outside of the company appear to be very good at what they do..financing, relation building, deal making...When the dust finally settled I thought the opportunity was much better than many most of the shell transformations that I have seen. They have even surprised me with the fast start in just a few months...I know we all love patience but we do often have a limited supply and in this case we may be able to use it elsewhere!

I guess if one is a history buff you might care that TRSI rose from the ashes of Tango, a company in the apparel business, then took a short term look at an internet auto sales scenerio but in the end transitioned to an Energy Company - smart move given the world wide strength of that tier for the rest of our lives IMHO. Blessed with some great early advice and consulting from the likes of Chuck Laser, who introduced them to the early Montana opportunity, and others, they are unusual, IMO, as they get to begin with a very reasonable OS, have a stated philosophy of creating a solid revenue based company, and quickly put together a project of significant size that will deliver its first revenue in a matter of days it appears. How many start-ups do that? The COO, Eric, has done a terrific job already in selecting a great partner in IRA, a TX service/operator/lease holder to work the first active project with. And he keeps us up todate!!

The project is a phased re-work, re-enter, or new drill opportunity on a field of 20+ wells already defined by experts to have an over 2M bbl reserve. Not bad to go from early agreement in mid August to production $$ in 6 weeks. Hey, sometimes we have to wait that long to see the dust from the rig arriving at some opportunities. LOL When this next week passes, performance is a fact, and others noodle the numbers that I have already guesstimated about we are going to be very under priced IMO. Maybe you look at that as a momo or a hype but I personally think we have arrived early at a great short and long term play. The current cap is well under $2M. Please show me another one with such performance, promise, and such a low cap rate in this industry. A hidden jewel that will be coming out of the closet to many very soon.

I doubt if you came here to be sold on a great opportunity so I'll leave this post with those few reasons of many why I'm here along with others - and not planning on leaving any time soon...and, oh yeah, don't mistake this as a one pony show, you'll be disappointed...

zagdad