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USC Cowboy

06/05/12 12:33 PM

#50980 RE: sneaky2 #50979

Hi Sneaky, Yeah I still visit the board everyday, also visit the echoing halls and the sound of crickets at the HMGP website.

I feel your pain but all (emphasis is on all)is a bit all encompassing. true that many penny stock CEO's are less than forthcoming and may harbor ill intent on shareholders but all is not true.

Many fledgling companies must go the route of 'penny stock' status in their individual efforts to grow, it is really the only place to go for growth capital if you don't have personal wealth to dip into for your financial strength.

If ones goes to the venture capitalists, they usually want 60+% of your voting stock and demand very high returns over a relatively short period of time, both are fatal to a young business as they will collapse the tent at the first sign of any problem. I would venture to say that out of ten backings they expect 2-3 to survive, and then they will sell out their position to god knows who, usually gangsters that start sripping out whatever assets may still be inside the company. Again this is fatal to a startup.

I have control of several boxes of HMGP corporate files, records, photos, proposals, emails, etc. from the field office in Kansas.

When I went through the contents I was dismayed by the lack of professionalism, technical savvy, management skills, and the general thrashing about by Keith and how much influence was exerted on him by several of the prominent posters during the rise and the fall. In my opinion, they (posters) were very self serving and detrimental to the actual running of an oil business.

As far as Keith's claim of abilities based upon four generations of 'awl bidness' was baseless in my opinion. A first year petroleum engineering student would have had a greater skill set and technical ability.

In my analysis of the email claims regarding production and subsequent value, I recognized Keith's limitations based upon my petroleum engineering background and experience. I posted frequently regarding that aspect and was totally blasted by the Keith lovers. Even today, those that attacked me and attempted to discredit me have, except in one rare instance, never apologized or given me credit for attempting to alert all.

Now, the share value is far below my position value and someday I will sell, lock in the loss, and recognize the value based upon tax offsets against my other stock market profits, about 50% of my invested capital.

If we get lucky, someone or some corporation may pick up the shell and use it for some other venture, we could possibly recover. BTW, it has happened to me before, and was a very pleasant surprise.

Have a good dy my long term friend,

USC