Nice to see a post from you NCPTI, was wondering where you had wandered off to.
1. I would like to know more about your getting connected with PGPM. Were you looking for distressed companies? Did you purchase any part of PGPM, if so, what was the vehicle used?
I and my good friend and business partner were offered the following under a 1 year contract that for me expires/renews Oct 19th 2010. X amount of cash paid to my/our privately held company, X amount of cash paid to me/us as individuals, and X amount of PGPM shares granted to me/us as individuals. The contract renews under same or greater terms on the date specified. I came across the company because my privately held company was seeking clients with pressure depleted distressed properties so that we could apply Enhanced Oil Recovery engineering to increase production for perfomance based compensation
2. As you stated that R. Pinedo has a small amount of shares, possible less than some investors here....do you state that in comparison to the increase of the Authorized Shares from the previous amount as now being diluted himself? Or was there a transfer of sorts, if so is this connected to my 1st question?
Again, I have witnessed NO dilution and technically at this point no shares have yet changed hands due to SEC regulations concerning officer compensation of company shares. The Authorized share count was increased.
3. Should ACLY pull through with financing, ("all" or some with structured payments), would any part of that be considered toward a dividend to share holders?
I will have to research this more with our legal and accounting representaion and get back to you. Uneducated answer would be, Divedends would be nice but the money may need to be spent strictly on increasing earnings per share, assets, and therfore company value.
4. Should ACLY fail to finance their note and PGPM re-acquires the leases, would such leases be looked upon to enhance PGPM's bottom line in income dollars or considered to be assets that will be liquidated?
A combination of the two.
5. As you are aware, public perception is a maker or breaker of public companies in this day and age of instant information. I appreciate your taking the time to joust here on I-Hub PGPM forum. Aside from the website enhancement, blogs, COO's statement that we discussed via email awhile back, what other intentions do you have taking this company forward?
Quite simply an increase in oil production/earnings and Proven Developed Producing (PDP) asset valuation through well rework, new well drilling, and Enhanced Oil Recovery Engineering.
AI
