Replies to post #6431 on iTalk Inc. (fka TALK)

[sosjtb]

Well that is unexpected! I remember when exobox (another technology company) did the same thing thing as a a revenue stream to fund operations, stock took off and then the deal fell through and it tanked. Will be fun to watch this play out....

[king koopa]

sounds positive but no reaction from the market.. i think most were looking for continued expansion of the voice / data business

[rawman]

...has issued a Purchase and Sale Agreement to acquire all of the members interest in Hilliard Bender Energy, LLC, an oil and gas operator that currently owns the mineral rights to two leases in Montgomery County, Texas. With proven, undeveloped drilling locations, each capable of producing 100-150 BOPD (Barrels of Oil Per Day) and approximately 450 MCFPD (Millions Cubic Feet Per Day) with 400 acres of land under lease.
Limestone was formed by TALK in late 2014 to develop a diversification strategy for TALK outside of the communications industry.

LMAO! What a well thought out strategy...jump on the oil and gas business as drilling sites all over the world are being shutdown on a daily basis! Last week Canada alone shut down 18.5% of its production sites! Please read TALK's SEC 8-K filing! Levy says TALK may abandon the WONDERFUL TELECOMMUNICATIONS BUSINESS to focus on ENERGY! This speaks volumes about Levy's view of the future and certainly brings into question all of Levy's flowery PR's! The deal also hinges on increasing the AUTHORIZED SHARE COUNT to 1.5 BILLION. 625 million shares will be used to make the purchase. The shares are to be RESTRICTED! "RESTRICTED" means the shares cannot be sold for a minimum of 6 months! Given the price of oil, i.e. under $50 per barrel, no one is going to do any new drilling or exploration! What seller in his right mind would "lock-up" the sale proceeds (625 million shares!), with this energy business opportunity looking bleak at best! IMO...Levy got "blind-sided" by the oil crash! What a great strategic plan...tie up 625 million shares on mineral rights for a plot of land that may never deliver ounce number one of oil or gas!

IF ANYONE HAS ANY IDEA AS TO WHEN OIL PRICES WILL RETURN TO A POINT WHERE NEW DRILLING OR FRACKING MAKES SENSE, PLEASE LET US KNOW!