This is very interesting how it shows 6 wells at PV producing ~213 BOPD. Obviously that production is for the wells they drilled at PV this year that I thought were held "confidential" by the DOG, or I thought that's what the CEO has been saying in multiple PR's/newsletters? Can you find where he said that? I even thought I read somewhere where he said the "confidentiality" will be eased before year end? Is he really that clueless to not know if certain wells (only 6 wells at PV and one at Moffat) are held confidential as he has stated, or could some of the production be held confidential and they really are doing the 2,058 BOED (in June) as he said it was doing? Or is this a all just "story tellin"? Keep in mind, in all the PR's and in shareholder letters, he has covered himself pretty well with words like "anticipated", "expected" and uses production "capacity" (underlines it in recent shareholder letter) and of course uses boEd nomenclature which means the "equivalent of" could be almost any substance "converted" to oil equivalent with the right "massaging". Oh, in your "happy hoopla" quotes, don't forget about this jewel..."Robert Bell, TVOG president, outlined the exceptional increases in oil and gas production over the previous year and the near term and long term production increases now underway. He outlined how TVOG expects to achieve its goal of 10,000 barrels of oil equivalent per day by the end of 2010".
One last thought, the DOG site you posted only showed the Moffat well doing about 600 MCF in August? I thought that well was supposed to be confidential too? If that's the "real number", which is a hard thing to nail down around here, then it sure doesn't warrant 25 new "development wells" to exploit that so-called "discovery". I mean, it may be "commercial and economic" (net gas revenue exceeds costs, even after discounting for time factor) if it can sustain that rate or higher (no less) for a couple years to pay out its ~ million dollar (more?), drill/complete/pipeline/equipment refurbishment/etc. cost to date at Moffat. But, on the surface (if that's all its producing after only 9-10 months of production), it looks pretty marginal. Maybe that's why we don't hear anything about all those follow up Moffat wells they were going to drill before year end?
Oh well, I guess myself and 98% of the other shareholders just believed it was all true and stuck with this so long, as our shareholder value got almost completely decimated. It sure appears the CEO's "magic" of bringing in fresh investors to bolster the stock price, or saying things in PR's/newsletters that entices existing deep pocket shareholders to buy more (like Gamble), just falls on deaf ears these days. I always wonder what ever happened to the self described/self appointed/self enriched? "White Knight"?
Geo
