Answers below: (some should be considered forward looking and speculative)
BTW . . . great questions, i am actually having to refer to my printed matierials for some of the answers.
Also, some questions involve events that occured a long time ago and I may not have all the current information.
1. Does PGPM currently have a positive or negative cash flow...and what are the sources of positive cash flows if any.
Technically at this point a negative cashflow, although some assets are currently being purchsed and then resold at a profit to provide positive cashflow and pay off all or most of the current liabilities of the company as well as provide some cash to grease the wheels. As some of the sales have not been finalized I cannot comment further.
2. Does PGPM currently have any inhouse assets that are scheduled to go in to production or be reworked in the near term.
Yes, Although the Company needs an injection of capital to achieve this. We are currently looking at acquiring a loan against some iron assets valued at close to 1 million but this is in my opinion a potnetially risky one time capital injection.
3. What are the gross/net acres for PGPM.
From the information provided to me so far 12,000 Acres spread across 15 mineral leases at varying ORI's in Wichita and Archer Counties, Texas. We have some good offers of additional acerage comprising approximately 17,000 acres but these options are being provided to Mr. Pinedo directly and it is at his discretion to which of his companies they will be applied.
4. What is the gross well count of PGPM.
As of a few months ago +/- 150 wells varying in depth from as shallow as 150 feet to 4000+ feet.
5. Does PGPM currently have any injection wells.
Almost all properties have injection wells, some properties have multiple injection wells. All are listed as disposal into productive zones.
6. Does PGPM currently offer injection services to other companies, or currently working any non-company injection wells for profit.
Not currently, but this is one of my plans for helping turn the company around. We are in talks with a couple of different operators to provide injection services and i am attempting to negotiate a combination of the following: a monthly rental fee, service fee and/or Revenue Interest percentage of each project.
Although any equipment we have or acquire would be best utilized on the Company's own leases to maximize revenue.
7. What is the status of the well servicing company that was acquired several years ago.
Hmmmmm. I think this has to do with the acquisition of American Petroleum Corporation and Mr. Pinedo's original plan with that company was to have it be an oil field service provider. We have a drilling rig and a pulling unit, some injection equipment and field labor standing by so service is a viable option but again the equipment would be better utilized on internally owned properties
8. When may we expect ( not an exact date)public information on the status of the PGPM/Arcland relationship.
The Notes officially come due in July. I dont wish to give an exact date here but if you look at an Arcland 8K from 2008 I believe the date is in there. I thought they were due in June hence the June timeline previously given via email to shareholders but I was mistaken.
AI
