Replies to post #63022 on Worthington Energy, Inc. (fka WGASQ)

[LBDC20002]

Look at the pictures in the ibox. Charlie adams knows where the oil is.

[mdimport]

WGAS = 50M+ dilution / week currently. Those are just numbers, so you should be able to agree on that. Take the starting O/S - ending O/S and divide by number of weeks.

Black Cat + Tony Mason appeared to be a done deal, including wells, until it wasn't. Same can easily happen with ADR -- which would mean no oil. So there are four keys to prove a turnaround:

1. Mr. Volk being out of WGAS
2. End to dilution
3. Shareholder vote to freeze the share structure for some extended period of time (say 24 months)
4. Revenues on the books (prove the company is more than a dilutive PR machine)

"If there's no oil wells and assets, WGAS produces $0, so it has no choice but to dilute the full amount. "

How?

I absolutely think that WGAS will be able pay off the debt with IR without giving stock directly to IR

WGAS is in any event knocking on the trip zero door. Have you seen how close the Bid is to hitting $0.0009?

I'm sure the other DHs would let that happen. Put WGAS shares down to trip 0 nothing and put the company out of business over 242k.