Diversified Oil and Gas Holdings (DVFI)

[zinvestorjac]

my scoop on this....

company is waiting to conclude Winfield LA. If the ETLOI ever closes, they will have Winfield free and clear and 4M in cash. Winfield produces 7800bopm and nets 1.6M per year in profits. They want to show this on the B/S as a combined event. The ETLOI issues shares to insiders and the owner of the ETLOI. If the ETLOI falls thru, it's possible Winfeild will fall thru also because Lancaster is not going to take that kind of risk. The banks will provide financing because all oil models have been proven. Why isn't at least Winfield closing. IMO - If he can get it free and clear with another deal's padding covering the cost that is what he wants to do. WW Oil and Gas has no cash, is in a holding pattern until Biogenerics can provide funding using the 4M in cash they get from Royal. Tyche is also waiting on this cash to start Oklahoma even though we were told the first Oklahoma well was being spud a month ago.