Futrcash; There is a pretty reputable company that has jumped on board with DWOG, and I have a feeling that the false starts are probably a thing of the past - although anything is certainly possible with a penny stock.
Unfortunately, DWOG is still a really, really long way from the next noteworthy catalyst - which will be proof of concept & should take place sometime probably around 1st or 2nd Quarter 2015. At this time, the window will also open for any potential buyout offers. Because of the nature of the project (SAGD), drilling is not the catalysts that it normally is for traditional oil & gas plays.
The next milestone/catalysts will be when they reach profitability. Due to relatively few drilling months I don't see how this could possibly happen before mid 2017 at the earliest & because the oilfield never works as planned, probably 2018.
Personally, I think that the share price can only drop from here (near & medium term) as the volume dries up & current shareholders realize that holding DWOG shares represents dead-money for well over a year. Besides, it went up over 1,000% and it has yet to correct.
I hope that this post will not be misinterpreted as being negative, or 'bashing', or a means of some other self-serving agenda. I am merely trying to be a realists.
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On another note, Futrcash, you were in on Mainland for a while, weren't you? I hired a new Landman last week & he said that he would jump on my leases as soon as he nailed down his current project which shouldn't more than another week or two. I asked him if he could tell me what he's working on without being too specific? He said that it is a 'ultra-deep shale play in Jefferson County, right up against the MS River.' he was contacted by an individual out of Houston & does not know who he is leasing for - the leases are going in his name (the Landman's name - this is becoming more & more popular, it is what I do, it keeps competitors in the dark a bit longer). I advised the Landman to make sure & negotiate his payment in cash, upfront, and not to accept payment in working interest... haha...
I know I don't want anything to do with it... haha...
AI
