FACTS ABOUT THE SCAM THAT IS EXTO The PR says it LOI'ed to possibally own 5% of 2 oil wells in Penn. It is an LOI for a PINK SCAM. It says: "Ideally a 20 bbl. oil per day (bopd), initial production, can return in approximately 3000 bbl. of oil in the first 24 months". ALL numbers in the following calculation are high end and generous Do the math $90 X 3000 bbl (in a two year period) = $270,000 That in and of itself is pathetic. Now factor in that this SCAM only will own 5% of the purported well. 270,000 X .05% owhership = $13,500 X two wells = $27,000 in two years or $13,500 gross sales per year. Does not factor in pruchase price, minerial rights, permits, legal work, maintainance, electricity, man hours, trucking, ect. ect. ect. Natural gas 20 MCF per day. x $8.00 PER MCF = $160 x 365 = 58,400 x two wells = $116,800 per year. $116,800 X .05% ownership = 5,840 per year gross sales per year. Total fron oil and gas of two wells #13,500 + 5,840 = $19,340 If they even exist. If they even are operational. If they have best case scenario. This is the only purported source on income this SCAM ticker has. Other than dilution, of course. Assuming a 50% profit which I think is very fair but it is a number to work with. Moreover with these pathetic numbers, it makes no difference. $19,340 / 2 = $9670 total net annual sales. $9670 / 809,716,049 current O/S = projected book value IF LOI is consummated .00001194245 Current book value. .0000 At .0011 closing 03/22/13 this POS is insanly overpriced. If these clowns had 100 of the pathetic LOI 5% wells in hand the current PPS of .0011 would be near correct.
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