Bayport International Holdings Inc. (BAYP)

[Lochan]

From the EXTO PR of April 11, 2012:

"The initial target of production is the three wells located within the Peck "A" lease covering the south 320 acres under Section 372, Block "G," Gaines County, Texas. Rio Riata and CTL have mobilized equipment and expect to start production within the second quarter of 2012."

As of the date of the PR, equipment to rework at least one well had been mobilized by Rio Riata and CTL. Production was expected to begin by June 30th, which passed us by six weeks ago. It appears that before attempting to drill at the original target, a test site had to be set up. Anyone know if any progress has been made on that front?

Anvil, I agree. If there will be revenues in the Third Quarter, they will come from the oil and gas division. Sooner or later, management has to start focusing on transforming the Company's potential into revenues. Without actual revenues, there is no profit to speak of, and without an earnings per share calculation and P/E ratio, a valuation of this Company can hardly be determined. How, then, can one expect a positive return on this investment?

At this point, Bayport International Holdings is very much a shot in the dark.