Manti - the last PR stated that the WYO lease sale would be used for a "multi well horizontal drill program". As usual, the PR is lacking specifics as far as the dollars involved but if you take it literally - there is no need for issuing stock to fund this.
Even with 3M shares trading today, that's only $60k worth of stock at 2 cents each. Not chump change for me but sure is for many a wall street investor.
Are you serious? You must be joking. We know they are debt free and cash flow positive. That's a good base. Further, we know: 1) WY lease deal is slotted to pay for drilling program near Collins, where they "know" they have a "large" petroleum field. 2) They've been tanking oil for much of this year. Simply selling more of it will provide funds for drilling. 3) At .02, it makes no sense to sell additional shares. Too many other options than throwing away more of the A/S count.
Selling shares in addition to ..."The divestiture of the Immigrant Gap property will allow the company to fund and execute a multi well Horizontal drilling program on our Woodson County KS properties"...???
Most would say No way..but could be some free trading shares were handed out..but why dump the shares if HMGP has value?...And HMGP is not selling them directly!!..right?
Or is HMGP cash poor where they needed to use shares....can't be that!!
Some one getting to buy back the airshares on the cheap?...If so...where did the supply of real shares come from....can't cover airshares by buying back more airshares!!
Either it was just a few crooks swapping shares back and forth btwn each other...or some real shares got dumped...or the shorters have just gone insane and dumped a massive airshare attack!
You stated it as a fact and not opinion (like you are doing again) but then just a couple weeks later Hemi states in a press release...
"These two virgin leases, the Weseloh and Driskell, have all necessary supplies in place. "
and
Neither Hemi nor Hemi's management have sold any shares in 2008 to the stock market and no market makers have been selling on the behalf of Hemi. Therefore, it continues to be Hemi's opinion that after hours postings are not shares being sold in volume but are predominately reporting of transactions of sales made during the day. Hemi continues to be cash flow positive and has more than sufficient funds to complete the three oil wells being developed in Kansas, and therefore has no need to sell shares to fund normal daily operations.
then states again in a following press release...
"Hemi has been cash flow positive for all of 2008 and continues to be cash flow positive from oil production. Hemi has more than sufficient funds on hand to complete the three new wells and all the supplies and equipment necessary for oil production from these wells. In addition to its budgeted funds, Hemi is also tanking oil as the price has risen the past several months."
I am really baffled at why you continue to state opinions as facts even after you've done it in the past and have been incorrect.
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