"Spunky, I may have noted a "tiny-bit" of rage in a "Johnny come lately" poster or two. Have you?"
Yes, I'll admit to some rage over BD lies and all the lies they told RedChip. Don't believe me, go talk to RedChip!!!
Why don't we know the number of shares? How can you defend a company that hides the number of shares?
Charts, explain this most recent gross distortion / lie from BD. Look at how bold they are about it, trying to present it as a mistake. (.5625 * 31) x 1,200 = 20,925. Not 67,500 barrels a month. Explain that Spunky? And why you are at it, all the similiar gross distortion and lies of the past. Which I've included here for your review.
"Management reported that the Company will become cash on cash profitable at 9,000 barrels sold per month. Currently, production is averaging .5625 barrels a day per well. With the addition of Mike Ellis to the team, management believes production can be increased to over 5 barrels a day per well. "My original goal was 3 barrels a day per well, and I still believe we can make that happen. Taking into account eventually having 1,200 wells in production at the current rate of .5625, that would still generate 67,500 barrels a month and gross 4 million a month cash flow. That would equal net revenue of over 2.8 million per month, making our stock grossly undervalued at the current $.09," stated Joe Lanza, CEO of Black Dragon.
The recent PRs says that for April we produced 7,000 and shipped 4,000. That’s 3,000 left in the tank. For May it was 7,700 and we shipped 5,000. That left 2,700 in the tank. For June we pumped 8,618 and 4,000 was shipped. That leaves 4,618 in the tank.
So, we now have 10,318 in the tanks. At 70 a barrel this is $772,000. Now, this is just not believable? We got 772,000 just lying around. Ha, Ha, Ha.
Here are BD’s old stories. Gee, they look a whole lot like their new stories...
BLACK DRAGON PRESS RELEASE STATEMENTS:
3/15/2006: RedChip Visibility Report – $1.6M free cash 2006,
-$18M IN FREE CASH 2007,
5/4/2005 : Expect to producing 30,000 Barrels/mo by year end
6/7/2005 : Expect to be producing 1000-2000 B/Day within 12 months
6/22/2005: Expect to reach $1M/mo gross rev by 12/31/2005
9/20/2005: 2005 ann Gr Rev to be approx $5M
11/3/2005: Expect Ann Gr Rev to exceed $5M for 2005
12/29/2005: 285 wells are producing Expect 30,000 Barrels.mo yr end
12/24/2006: Could produce 8,000 Barrels oil in Feb 2006
3/13/2006: 1200 wells, 413 producing
4/4/2006: REV GOAL of $14M for 2006 IS HIGHLY ACHIEAVABLE
4/27/2006: Expects revenues for Q2 to exceed $4M
- Expect rev goal for 2006 to exceed $14M
JUNE 2006 RedChip reiterates:
- Q2 Revenues to exceed $4M
- FY Revenue goal of $14M +
- COMBINED PRODUCTION EXCEEDS 18,000 Barrels/month6/1/2006: BD EXPECTS Q2 REVENUE OF $4M (APR-JUN)
7/5/2006: RedChip Rept: EXPECTS B/E 2006, $13M FREE CASH 2007
7/31/2006: EXPECT 30,000 BARRELS of OIL and 20MMcf GAS BY YR END
AUGUST 2006 RedChip : EXPECT Q2 TO EXCEED $4M IN REVENUES
- SAFE BET THAT BD WILL EXCEED $14M IN ANNUAL REV FOR 2006
- COMBINED CURR PROD EXCEEDS 18,000 BARRELS/MO
8/2/2006: BD EXPECTS TO REACH 30,000 B/MO BY YR END
8/23/2006: FIRST 6 MO REV ARE $1.6M
- MAINTAINS TARGET OF 30,000 B/MO BY YR END
8/31/2006: ANNOUNCES SALE OF 10,000 BOE FOR AUGUST
9/5/2006: EXPECTS 13,000 BOE FOR SEPT 2006
- IN DECEMBER BD SHOULD REACH 30,000 BOE/MO
9/27/2006: MGMT REMAINS CONFIDENT 30,000 BOE/MO
10/3/2006; BD PRODUCES 12,000 BOE FOR SEPT 2006
- REMAIN CONFIDENT ABOUT 30,000 B/MO BY YR END
11/3/2006: 1000 VIABLE WELLS – 450 PRODUCING
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