Diversified Oil and Gas Holdings (DVFI)

[Imperial Whazoo]

I know this sounds ridiculous but I side with both side of the earlier comments:

1.) I agree we should all show a bit more character and quit whimpering & quivering like babies because it really was our decision to buy into this "lottery ticket".
2.) I agree we ought to be mad to the very marrow of our bones over the length, depth, & scope of the apparent lies that were early on told regarding the plans for 2006.
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Now, let me give my own unique position & viewpoint. After all, its still early in the AM and I haven't experienced the total joy of being insulted and vulgarly assaulted by total strangers as of yet today... so here's some raw meat for all you hungry, angry, cowardly lions... go to it guys, rip me limb from limb!!

I think it should be remembered that:
A.) the Toronto investors who are behind this company are VENTURE CAPITALISTS. Lancaster is their current mouthpiece but he is not the power.
B.) these VENTURE CAPITALISTS obviously are not oil men. The obvious fact is that they stumbled into this oil patch deal while their intentions were to be VENTURE CAPITALISTS in the biotech field... hence the name of the company. Biogenerics... Duh!!
C.) Being a southerner, a Texan, and a 50ish businessman whose family is now in its third generation in the oil business in Texas, (and yes, we have producing property in East Texas), I can tell you that most yankees can be expected to have thinly veiled contempt for oil men. Hence, I have watched in a somewhat bemused fashion as these Toronto folks time and time again showed that they have not got a clue as regards the day to day details of being in the oil business.
D.) Point C [above] having been said, I think these guys do not trust their hired guns (oil men like Lancaster) and they will not permit them to make decisions. Everything has to go back to Toronto and a committee has to be assembled and votes have to be taken.... and the question up there inevitably is not whether the East Texas LOI should be on a fast track. The decision is certainly one of whether BIGN, when balanced against whatever else they have their money wrapped up in, should be their first priority. I think the decisions are being made in Toronto and not in East Texas. This is bass-ackwards, to be blunt. The fingerprints of this fundalmental decision-making mistake are everywhere & obvious: in the delays themselves, in the vapid idiocy of the naive projections of 10 or more slotted wells a month, in the lack of understanding of the obvious things like tying down via contract future access to drilling equipment... and so on. As they say in my family business (and I regularly talk to the senior petroleum engineer in our family business about BIGN), these Toronto guys know so little about the oil business and they have so little respect for "us Texas bumpkins" who are out in the field actually doing the oil business that, to quote: "they couldn't find their ass with both hands." As he (our senior PE) often says of stupid people: "Hell, he don't have no brains... his neck just haired up and grew over."


E.) and heres the odd thing, since I sound like I overly critical.... I'm still heavily in BIGN. My focus is on the slotting and the LOI for the East Texas deal is merely a means to an end. Grimes and any other field that is slotable is the detail that made me raise my eyebrows originally. When Schlumberge started out years ago, the "technology" that differentiated them was a downhole tool that enabled them to measure the difference between the electrical conductivity of oil and water. They could tell an oil man whether he'd struck oil or water. Hydroslotting is such a technology today. IMHO, if BIGN fails to maintain a close... no, intimate... ralationship with Hydroslotter, they have nothing to differentiate themselves from a thousand other little oil companies out there. But, all that having been said, I'm still 100% in. In fact, I've been a steady buyer in the last two weeks.

Anyway... now I've given you guys something to rip apart. Go to it now. Attack me. After all, thats what all the bullies on this board historically do every time anyone does something other than simply parrot what has already been too many times repeated.

Imperial Whazoo