It has been about 4 weeks or more since I called Larry at MVTG to prod him along. Not sure there is much we can do right now. Money has dried up, is drying up, except for huge deals on oil and gas (BHP buying up assets in the billions, like Petrohawk), and with Europe about to implode it looks like it is time to batten down the hatches for a rough ride to me. I hope I am wrong, but recent alt energy news like Solyndra and BCONQ (Beacon, the flywheel energy storage technology that DOE funded a 40 million dollar plant in NY that was fired up 12 months ago) filing for BK after getting 500 and 40 million dollar US DOE loan guarantees is not doing our (MVTG stock) and sector much good right now.
I have decided to start accumulating cash for the next crash, should it come, to buy and add to my favorite picks, like MVTG. But I am not selling anything at these depressed prices to raise the cash. I have shares in another stock that has hit 1 billion dollars in natural gas in Miss., on a single 22,000 foot well they drilled to confirm the find, at a cost of 13 million dollars just to drill the one well. They ran out of money to frack and complete the well (run the pipeline to the nearest buyer, frack the well before beginning production), and they only need about 8 million dollars to finish the well and run the pipe and have a $500,000/month cash flow in 3 months, and even they have been hung up on financing for 6 months. They hit 20,000 PSI natural gas over a 2000 ft shale section, and hold 26,000 acres in the section where the gas is located, making the assets they hold worth $1 billion dollars, and they can't even raise the needed money to finish the first well!!!! (like Larry they have raised some money here and there, and are keeping the doors open, but financing is getting very hard to attract, again). I do know Larry spent a pot full of money on the last patent filings we recently got the PR on.
At least while we wait, Larry is keeping things moving, and keep the ship afloat, unlike Solyndra, and BCOND. (I still have some shares in BCOND, and I am hoping they will survive, and come of out of BK leaner and meaner, but....).
Rest assured Larry is hard at work trying to solve the problem. I had hopes 9 months ago, before the Japan Tsunami of getting Larry into the US DOE funding loop, but like I said, it will be a long while before that piggy bank is ripe again! One place still ripe with cash and that has the drive to deal with CO2 is Australia, as noted by recent articles and funding there. I do know he was pressing the Canadian Government to act and follow the US DOE lead, but that may now have problems as well, after the Solyndra blow up. At least we have a race horse (Larry) that is, was seasoned by the last crash in 2008! And if Europe does not implode, the US seems to be leading the way with solid recovery reading the latest news. I just hope GODZILLA does not drop in next! LOL
I think Larry is a whole lot closer to starting construction of the LaFarge pilot plant, but at this point the delays are getting to be a disappointment.
Ambition with out knowledge is like ship in dry dock. Going nowhere fast!
