I would judge him on actual production numbers, actual filings which to date he has submitted or was responsible for submitting first which are both terrible unless they are some how in future revised like he said they would be.
Then I would judge him on how many of these new wells, leases he gets up and running and how much oil they produce each month, and I am not counting the first few days of production as that is really a false reading as once the oil that filled in gaps is gone, production usually with these types of wells goes down about 90% or more.
Then I would judge him on how much he is diluting by convertible notes
Then I would like to see if that deal with the trucking/ equipment company ever really went down, and why are they not producing the income from that they said they would be creating.
Then I would update their web site.
Then he should give us a list of all the wells leases they own, what is the percentage of mineral rights they have, and what operator are they going under for each well.
Then they need to get as many wells online by end of year that they said they would, and that is not counting the ones they just picked up that may have already been producing. So far after perry and Lucy and Travis wells, I can only account for 2 or 3 others he has mentioned that are producing, and I think they came with the new leases so should not even count against the 20 wells online by end of year. Remember perry wells and travis and Lucy is not included in PR he stated 20 new wells up and running by end of year. At one time he even said it would be more, but lets say 20 as that was latest info.
There are a few others also, but address these issues and then this will become transparent and share holder friendly, and any new news better have a way to verify it or as we have seen in past is useless info for most part. He may be trying, but the only thing I can say for some certainly he has done is picked up new lases and wells since he has been on board with this company, and even some of that cannot really be confirmed or would it lead to any profitable revs. Also I do not know the terms of how they actually got these new wells, but if they do not hold up their end of the deal, they may revert back to the owners who sold them those. That has happened as they had to completely right down some old leases as they could not keep up with their commitment of paying or doing there part on leases. So even the new leases could go away down the road as others they owned already did and was reported in 2011 and 2012 SEC filings.
SO I AM JUST NOT SOLD ON VINCE OR PDGO YET. It all sounds good of course but in reality and some of the things we can confirm they may not be doing what people expect them to be doing as PR'ED
This is just keeping it real, I do not know if he is withholding vital info from us or not, but what I see in black and white from third parties or filings by company are not great. Even picking up these new leases came with a steep price, and interests
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