Replies to post #45963 on Hemi Energy Group Inc. (fka HMGP)

[kelseyf]

"The results:
1)never sold the leases
2)never produced much oil or NG (and never would tell us monthly production or sales revenue till the recent letter)
3)never got the insurance money"

1. HMGP does not need to sell those Checkerboard Tarrant County TX leases, instead Hemi has established passive revenue agreements with Chesapeake and XTO.

2. Produces enough to supplement a company to be Debt Free and to Generate a 2008 Net Profit.

3. Still an open issue; never say never with an insurance open claim.

Kels

[bdahl385]

Very well stated imshredin2, you have summed up the "reality" of the Hemi 0.006 SP.

I don't see any catalyst to bring the SP up either now that the horizontal has been put on extended hold. The cash burn rate has used up most of the Wyoming asset sale proceeds by now. More assets will need to be sold and/or more stock being issued will indeed be forthcoming...

But hey, at least they are "debt free". Soon to be asset free and maxed out on the A/S. Hedging results may have netted some coin for Hemi on the severe drop in prices from 130 to 30 bucks a bbl. but that play doesn't work well in steady to rising prices which we are now in.

I hope I am wrong and will admit it if this sucker ever turns around or gets bought out. When you are kept in the dark as much as we are with this company, I will just assume no news is bad news. A 97.3% paper loss on this investment in 19 months for me based on my first buy price of 22 cents and today's close of 6/10th of one cent.