Replies to post #44671 on Hemi Energy Group Inc. (fka HMGP)

[kelseyf]

Yup.... yet this emerging O&G company remains DEBT FREE.

With a mindset as stated from the Hemi Energy Website that remains very consistent leading up to and including this NOW CONFIRMED Silvey Hemi-1 horizontal drilling project in SEK:

"Hemi Website (www.hemienergy.com)

MINDSET

1. Hemi Energy carefully selects underutilized, mature wells with known value and then uses the latest and most effective technology to increase oil production. The Company has an extensive library of forgotten government and private data detailing potential and existing oil fields. This exclusive data of previously drilled wells has been collected over many years, enabling Hemi to find viable sites and avoid failures.


2. Perform sophisticated level of research including intensive oil field history and engineering reports on a target location.


3. From this research we take the top 75% of the most promising proved locations and perform an economic feasibility study. All this is complete before we rush in and drill a well.


4. Compile all data to determine if we drill a new well, redevelop or rehabilitate older wells."

Instead of ya'all just stating and hammering back and forth these challenges about Hemi Energy, why do you not take a more proactive approach, such as what I and another shareholder did back on 01/23/09 and get some face time with Hemi Management?

For what it is worth I walked away from this meeting with a better understanding of Hemi, its business approach, model and strategy.

After all, it is ultimately Hemi Management that will be the party to address and set straight any all concerns and issues that you raise.

But as a Hemi shareholder you too can very easily address these issues in a very direct manner.....if you choose too.

Otherwise keep it flowing and the debate of no direction just continues.

Kels

[bdahl385]

"Hemi has raised millions over the years in stock sales and yet they sell assets to pay for projects. "

Very good point PP... I was amazed to read the posts here by the Hemi supporters when the Wyo. lease sale PR came through. Most were giddy saying how this $475K sale was like found money... They obviously don't understand a companies balance sheet. All Hemi did was move an asset off the books and replace it with cash. In theory, if the asset was carried at FMV - there was no net benefit to the company (and us - the shareholders).

An analogy for all to understand. In your own personal net worth, lets say you have a home free and clear and its worth $200K. This $200K value is included in your net worth along with investments, savings, CD's, etc. Now if you sell the home and put the $200K in the bank, did you get more net worth??? NO - you just changed the asset from a house to cash.