Breitling Energy Corp fka BECC

[Voices of Reason]

These well sites are the same prospects they have been touting since August of 2011. The "gross" reserves are a red-herring - we have no idea what the "net, commericially recoverable" reserves are - which are likely a very small fraction of this amount. These gross reserves are also uncharacterized as neither "proven", "probable", "possible", "unproven", nor "speculative".

Each press release BERX puts out about these prospects have material facts that continue to morph - reserve estimates have been anywhere from 1.5 to 3.5 million bbls, valued from $120 million to $218 million, on acreage ranging from 260 to 272 acres, with anywhere from 1 to 10 prospects to be drilled, with a working interest ranging from 76.5 to 100%.

In fact, this is the same rehashed press release from 2011 stating they had already completed their geological assessment for these same properties:
http://www.sys-con.com/node/1960081

and again here a couple months later:

http://www.youroilandgasnews.com/bering+exploration+completes+acquisition+of+gohlke+leasehold+with+potential+gross+reserves+of+3,500,000+barrels+of+oil+and+5+bcf+of+gas_69868.html

BERX fails to show how they will actually fund this drilling venture with very little cash in the bank. Yet another grossly misleading press release by Steven Plumb.