Good news - On April 27th the Company stated anticipated revenues of $1.3M for April, and $4M for Q2. Two months later, in June, RedChip reiterated the $4M expectation for Q2 revenues. OOPS - Didn't happen.
On June 1, BDGR stated their current combined production currently exceeds 18,000 barrels of oil per month and growing.
OOPS - End of August statement indicated a record level of 10,000 barrels of oil per month was reached.
On August 7th the Company announced a radio broadcast would include a discussion of the importance of the Gemini Exploration acquisition. Anyone else listen to that broadcast?
OOPS -
On August 2nd the Company announced that the Haynesville Field had been returned to full production (Yay!) Expectation is that production will be 100 barrels of oil per day (that's 3000 barrels per month). OOPS - On August 23rd the Company announced full production was at 2000 barrels per month as had been expected.
Of course, if the math is anywhere near correct, The Haynesville Field will yield an additional 2000 barrels per month (as stated) to the record 10,000 barrels (as stated),
The Shallow rights controversy behind them (as stated) will yield another 2000 barrels per month, and the latest acquisition (Spider Field) will generate another 1250 barrels of oil per month, and finally another 1000 barrels of oil per month (as stated) from the 19 wells in Hosston Field should yield in the vicinity of 16,250 barrels of oil per month - in the September timeframe.
That's GREAT news!
Aug 10,000
Sep 15,000
Oct 20,000
Nov 25,000
Dec 30,000 Barrels of oil repeatedly confirmed as achievable.
I'm hoping they meet or exceed that objective and do not wish for any more OOPS along the way.
The audited financials are months late (if earlier committments by the Company are taken seriously) - Maybe they'll include the first two quarters of 2006.....
A 36%+ gain in one day was nice to see - really nice to see - Now we'll get to see if the Market Manipulators can drive the price down just as quickly.
I, for one, would love to see some "infomation" soon, on the Gemini Acquisition, the audit, and the application for NASDAQ or AMEX listing - hopefully without any more - OOPS.
Rick Michael did publicly state at the conference that he expected BDGR's oil production to be at 30,000 B/Mo by end of 2006, and THREE TO FOUR times that amount by end of 2007.
Despite the - OOPS, I believe he has a reasonable chance to realize those expectations - unless, of course, - OOPS happen.
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