PGI Energy, Inc. (PGIE)

[kingpindg]

I've been watching some irregularities...

with regard to HCE for a while now but didn't know if it was worth mentioning since it was not certain if PGI would be getting into bed with them or not. But, since you asked, here's what I am seeing...

Recall that on September 22, Anthony Maye reported the following on the Home Creek website...

Gas production was around 72 mcf/d on last metering.

The first load of oil will be picked up on Saturday, due to our vendor currently on a 2-3 day backlog of pickups. We have already filled our 210 bbl tank and are spilling over into our backup.

http://homecreekenergy.com/about/reames-1-well-completion/


However, what HCE actually reported to the TRRC as official production for some of the Reames leases/wells (including Reames well #1, the so called "strongest current producer") for September was 0 barrels of oil and 0 mcf of natural gas...

http://investorshub.advfn.com/uimage/uploads/2011/12/28/tykqjHCE_Sept.jpg

That listing does not include Lease 28027, which includes Reames wells 2, 3, 5 and 6. For whatever reason, HCE has not filed a report for that lease for September (nor have they filed reports for any leases for October, which were due by November 30)...

http://investorshub.advfn.com/uimage/uploads/2011/12/28/oiizrHCE_28027.jpg

Because they have not filed a report for September, they have been declared delinquent, and if I understand the rules correctly, if they do not file by the end of December, the lease will be sealed (they can not produce) and they will still need to provide the information and pay a $300 re-connect fee.

So there you have it. Don't know what it means for sure but there does seem to be a disconnect somewhere.