Hemi Energy Group Inc. (fka HMGP)

[imshredin2]

I remember 3 things going on
1) the checker boards leases were being pumped as being worth tons of cash and a must have asset to a bigger company drilling in the area
2) Drilling activity with production that seemed so good they had to choke down the flow there was so much pressure. Sounded like nice cash coming from selling lots of $140 oil and/or NG that was $12.
3)Insurance settlement of over $1 million for damages
The results:
1)never sold the leases
2)never produced much oil or NG (and never would tell us monthly production or sales revenue till the recent letter)
3)never got the insurance money
And the market said "this is worth less than a penny"

If it was just shorts covering, at least even they thought there was a reason to cover. I know people who were buying chunks of the stock thinking the pr'd events would come to fuition. When HMGP stalled with the sale, wouldn't report production and wouldn't comment on the insurance settlement, those shareholders bailed out along with many who had already waited a year for something to happen.