Replies to post #12689 on Diversified Oil and Gas Holdings (DVFI)

[Imperial Whazoo]

Thanks for quoting me Joe (msg# 12590).

Thats what I was trying to convey... the LOI gets them rigs but not rigs for Hydroslotting. Wotkover rigs... and not new ones at that

ImperialWhazoo

[Waverider110]

True Joe, then there is this:

"...3) The company can also elect to invest collectively in 12
wells to be drilled in West Texas. This company currently
employs 70 people, has its own rework rigs and drilling
rig, plus several years of experience in oil field
operations and management."


"...and equally important, a fully operating exploration/drilling company with a highly regarded reputation in the industry in Texas which will allow the company to do its own drilling, rework and management of wells.''

Lancaster continued, ``This is the foundation stone being laid for the Company to gather and amass substantial holdings in the oil/gas industry. Today, it is difficult to get a drilling company to perform new well services in less than nine months. This acquisition gives our Company the ability to do its own drilling procedures without reliance upon any other party. That is a definite plus in this industry today.''

[fratboy72]

Exactly, Joe. The LOI, though very important to the FUTURE of this company, is NOT the be-all, end-all for the here & now. That's Grimes 3 & 4. That's the next set of 6 Grimes wells. If the equipment in this LOI is not feasable for use in Grimes or hydroslotting, then the LOI is not THAT important to Grimes.

However, the LOI IS important for use of another one of BIGN's "tools" - the N2Vision technology & CO2 technology they've recently partnered with. THESE techniques CAN be used to bring oil/NG out of the ground in Texas.

So, you see, we actually have TWO options here - keep motoring away with Grimes and at the same time, use a completely different separate technology in Texas.

Arch raises a few interesting points, but much of his banter has ONE sole purpose - to scare you into selling & make you doubt this company. The minute enough people so, the PPS will drop low enough for Arch to come in & buy your shares, just in time for it to go up again. Don't be fooled.

No, Arch, all is NOT "Rosey" here. BUT, it's also not the end of the world. Haven't seen Noah or the Ark lately - sorry to disappoint you.

Have a great night all.

[Razorbucks]

Joe, different process-- Hydroslotting and the N2/CO2 techniques. Grimes hydroslotting requires Schlumburger's compressors, NC02 does not according to my source.

Read my last post.

[zigbee]

That's right Joe.........

as I have said many times in the past; Grimes is our cash cow. We know what can be done with the wells in Grimes. They are a very safe given resource. IMO BIGN has everything they need in Grimes and all we need to do is pick up the pace. We can build a very nice revenue stream without any LOI's. Some people here are trying to scare everyone into thinking it is do or die on the LOI's. Bull! Grimes is the key to BIGN IMO.

futrcash; once again thanks for keeping everyone informed with the reality. Good to hear that Grimes continues to pull in revenue for BIGN.

[Pennimon]

Joe: Hey, like your post. I also am in it mainly for Grimes properties. To date aint much impressed with Lancaster or LOI's.

If we had stayed the course and continually worked on Grimes we would now be at Grimes number TEN or so. Our cashflow and company balance sheet would be much stronger with a couple million CASH ON HAND.

A much smarter plan short term would be to acquire a proper "slotting" rig with all the fixin's. Even if they had to pay huge premiums it would still be worth it.

Oh well no good to second guess. Must still like bign because I picked up more yesterday. Hoping to get some wwng soon also, as I like the way it moves with volume, and like the sounds of LOI's there...