Nothing is certain.
The production numbers....
The number of wells.......
The number of producing wells....
The percentages of each well "owned"....
Who really owns the wells....
Worst case scenario - Lanza hoodwinked RM into believing:
(1) He was authorized to sell the well interests - now
under litigation - 343 wells - was he?
(2) Specific wells were generating specific amounts of oil
He has been known to exaggerate and has been penalized for it in the recent past - did he?
(3) He may have sold RM non-producing wells and claimed they were delivering oil or gas now - did he?
If you go back and re-read ALL the BDGR Press Releases, you'll see some interesting events (I particularly like the one that claims to have BDGR producing 18,000 barrels of oil equivalent issued in the RedChip August 2006 report - a number they repeated from an earlier BD PR. They write what RM tells them...although now, I would think they would verify all claims made by BD - as RM will obviously verify all claims by others.)
The raft of PRs throughout 2006 paint a generous picture of Black Dragon, with continuing growth and acquisitions. Re-Read them all and make note of what was said and what is. Of course, we won't know what is until the audit. You know, the audit that was promised in April of 2006, May, June, July, August, September, October, November, December 2006, and now expected in January or February or.. of 2007.
For one, I cannot conceive of any situation that would have RM make these statements, predictions, claims, and promises over and over again unless he believed them to be accurate.
(He has a law degree, so I discounted the notion of him being exceptionaly dumb). That leaves me to believe he was repeated deceived by others into believing (and repeating) what he was told. I do have a suspect in mind......(!)
News 
Market Data 
Discover 
