In Case you missed it: (Time for some updating, methinks)
Posted by: cameraturretIn reply to: None Date:7/16/2007 1:05:35 PMPost # of 14071
I landed in LA midday on Wednesday and returned to Boston on Saturday. I spent a portion of each day except Saturday at Black Dragon and will do my best to give everyone my observations and impressions.First things first, Joe Lanza. A big bear of a man that seemed to rule with strength and kindness. I was afforded the opportunity to sit in Joe’s office with him on Friday. ... I cannot thank Joe enough for his hospitality and openness in allowing me to dine each evening with him and his family. I was treated both like royalty and one of the family.To meet with Joe personally and see how he is loved by his family, gives one a far different opinion of him than has been portrayed in the past.
...I did a quick estimate and came to the conclusion that there are 1200 or so wells and over 500 in production and that these wells produce in excess of 8000 barrels per month.
...I was scheduled to be taken to see some of the problem road conditions at 2:30 on Thursday. ...I figured with my 22 years of road construction experience, I could take care of all their problems in short order.
... I met and spoke with Nick (I’m guessing he is operations manager for Petrol), Mario Lanza, Pres. of Petrol, Dave Taylor, office manager, and Gary, BDGR’s new CFO ...
The Audit. I spoke with Gary concerning the audit and although in the past I believe I had received far too optimistic estimates concerning the audit from others. There it was, 6” deep on Gary’s desk. Correspondence labeled to and from Malone and Bailey. It is happening. Being a director, I have the ability to speak directly to partners at Malone and Bailey and have done so in the past week. They have confirmed that a retainer had been paid some time ago and that the audit is moving forward. I must please request that potential and existing shareholders refrain from calling the audit firm as they cannot give out info to anyone but officers or directors and any phone time can be charged back to BDGR at $250/hour. Gary believes a realistic estimate on audit completion is the end of August or early September.BB listing for those of you that may be unaware, it is in the works as well. We have contracted with a securities lawyer to handle our listing application and SEC filings. I expect that we will apply for listing as soon as the audit is completed.
The big wild card here is Mike Ellis. I have not had the opportunity to speak at length with him as of yet, but expect to this week. His credentials and abilities are without question and a huge asset to BDGR. And if his predictions of increased well production are even close, we will be a major player in LA oil production soon.
I have done my best in what little time I’ve had to understand the people and workings of our company. The statements I have made are to the best of my knowledge accurate and honest. My belief that we are extremely undervalued has been reaffirmed by this visit.
Louis Chighisola, Jr., Director
