Happy, as I said before I post here and the other fellow whom gives me the info gets all the blame, as he does not have an account with IHUB, but, what I have heard is this, Clayton tried to put together a 299 well program, was going to finance with selling all his family shares in the market through RRF, this did not happen, the shares got held up, funds did not come through and RRF became a non-complete, some call this a scam, others call it failing to get the job done. The I heard Peter was asked to come in and save the day, he spent many dollars of his own money, for what, everyone blames him for the past, needed money for the company, needed to get certain debts off the books, so from what I understand he decided to issue shares to debtors, issued shares for funds to re-work wells, rewrote the agreement with the lease holder and worked out the Myers Lease for the company to start with 10 wells and with ten wells up and running will the number of oil per month justify the issuance of shares (dilution)we have to wait and see. The volume we see today could be old shares negotiated from August last year through to November last year to finance, maybe, not sure shares just getting approved from the 144 rule, IMHO Edgar show six filings, does not show the number of shares only shows the dollar amount Drake wanted to raise $125,000 over these six filings, and again these filings do not explain if Drake got all the money or not, just shows the filing, does not explain the price either per share, so through all this filing it leaves one scratching there head, no info on number of shares, no info on price per share, only the amount per offering in the dollar amount Drake wanted to raise, does not explain if the funding was done or not. I asked this person, he said Peter told him he feels this could be construed as inside information and does not want to break any SEC laws. I am to understand from my contact Peter wants to build this company, it takes money, it takes time, it takes assets coming in, at the end of the building here we know for sure, somebody will have bragging rights.
