In my view it should be relatively easy to make a success of a OIL renewal production company for the following reasons:
1. There are thousands of abandoned, or underutilized old wells in the US. The majority of these wells have more additional proven reserves still under ground than what has already been produced. At current oil prices it is easy economics to renew these wells, increase production and make big money at minimal risk.
2. The market for CRUDE is a NO brainer -- It is a commodity --- No marketing required !!
3. To make this work, it takes just average knowledge in the business and a desire to make it work. It also takes the willingness to work and follow through. Just the basic planning and implementation skills is all it takes.
If the NEW team has these qualities, the success this time around is assured !!!
If, on the other hand.. The plans are not realistic..... There is NO work ethic to implement..
There is only a lazy desire to push false PR's and sell shares to bring in cash, then this would be another PONZI scheme....
We must have the the following !!!
Realistic Plan
Hard work to implement
Honesty in disclosure
Integrity with all involved....
Then we will be well rewarded in the future..
So far I do like the prompt disclosures..
Now, I am looking for ONE positive step after another positive step taken by the company to implement a good plan.... This should be EASY ---- Given the right TEAM It should be EASY...
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