Freestone Resources Inc. (fka FSNR)

[Waverider110]

The Prelude:

HIDDEN RIGHT OUT IN THE OPEN:

01/18/07 Press Release:

“…The Carroll Unit # 1 re-entry was a great experience for all associated with Freestone Resources and will act as the springboard for all future projects. We now have approximately 5000 acres of contiguous property to the Carroll Unit under signed lease option and are currently engaged in negotiations to begin exploiting this field with a large Oil and Gas company active in this same area.”

Press Release February 15,07 9:00 am ET
FAIRFIELD, Texas--(BUSINESS WIRE)--Freestone Resources Inc. (OTC:FSNR.PK - News) has optioned for 4,300 acres to add to the 517 acres lease of the Carroll unit #1. According to geologists, this acreage is in line and has the same formation as a major resource company which completed two wells only 2 1/2 miles away.
Their last well's open flow tested at 5 million cubic feet of gas per day. At today’s prices that makes the well as produced in excess of 10 million dollars. ..Lloyd Lane, CEO of Freestone resources noted: "The additional acreage added to the Carroll unit #1, will give Freestone 50 excellent drill sites off setting a well that has produced in excess of a billion cubic feet of gas. This well with today’s completion practices could have been much larger. Freestone Resources Inc. is talking with potential drilling partners and aims to commence drilling the first well by early spring.

Press Release 05/11/07:

“…Freestone has also been aggressively marketing our acreage in Freestone County to several potential drilling partners. We know without a doubt that we have a valuable oil and gas reserve that merits exploration, but have yet to obtain an equitable agreement with a company that we feel is aggressive enough to benefit our shareholders, as we deem appropriate. However, with a producing and profitable well on the acreage (Carroll Unit # 1) and the increasing prices for oil, we know that we can barter a satisfactory agreement with the proper patience and diligence.”

Press Release 07/27/07:

Freestone has been in negotiations with a multi-million dollar company in merger talks. This merger if complete will make Freestone Resources Inc. a large player in the oil and gas industry. Again we will keep you informed as this evolves.

Press Release 09/05/07:

“…Freestone County Leaseholdings
At the current time, Freestone Resources is diligently working towards evaluating all possible production scenarios with this lease in conjunction with a potential merger partner to maximize the hydrocarbon recovery of this field.

Press Release 11/02/07:

"...In reference to the merger candidate we spoke of, negotiations are still in progress along with a private equity fund looking to acquire marginal wells which would increase in production with the use of Petrozene. We believe it is in the best interest of the Share Holders to pursue both avenues as we feel it would create greater assets for the public company."


CAN YOU CONNECT THE DOTS FROM THESE PRESS RELEASES? GO BACK TO WHERE IT ALL STARTED WITH THE PRESIDENT'S SHAREHOLDER LETTER OF 01/18/07 AND SEE IF THE ESSENTIAL ELEMENTS OF THE FSNR BUSINESS PLAN HAVE NOT PLAYED OUT IN REALITY WITH SUCH THINGS AS CURRENT SEC FILINGS AND VERIFIABLE PRODUCTION WITH THE TEXAS RAILROAD COMMISSION: http://webapps.rrc.state.tx.us/PDQ/quickLeaseSubmitAction.do

http://www.freestoneresourcesinc.com/news/011807.php


I HAVE CONFIRMED ON MY OWN, BY CALLING THE TEXAS COUNTY OFFICIALS IN FREESTONE AND MITCHELL COUNTIES, THAT FSNR-the public corporation- OWNS THE LEASES MENTIONED IN VARIOUS PRESS RELEASES.

PER PUBLIC PRESS RELEASES, MINERAL RIGHTS OWNERS HAVE BEEN PAID $227,000 ALREADY FOR THEIR 20% INTERESTS AND FSNR HAS NOT EVEN FRACTURED THE HIGHER AND MORE ABUNDANT GAS PRODUCING ZONES BEHIND THE CASING OF CARROLL UNIT. THERE IS ROOM FOR 50 MORE SUCH WELLS THERE ON THE CARROLL UNIT.

PETROZENE WORKS AND IS BECOMING KNOWN IN THE INDUSTRY. PRODUCERS LARGE (CHESAPEAKE) AND SMALL AS WELL AS PRIVATE EQUITY WANT TO USE IT AS MENTIONED IN THE LAST PUBLIC PRESS RELEASE ABOVE. PETROZENE SEEMS TO BE THE KEY TO THE CAPITAL NEEDED TO DEVELOP CARROLL UNIT AND BYRD-1 UNIT & BEYOND. IT JUST TAKES SOME VISION AND GUTS TO WAIT A BIT LONGER. TIMING, YOU SAY?

MY 01/18/08 "GUESS" MAY BE "ABOUT" 10 DAYS LATE. BUT THAT IS A GUESS TOO!

"THEY ALSO SERVE WHO ONLY STAND AND WAIT"- Paradise Lost by John Milton

I do not plan to miss "THE LAST WAVE"!