Well guys, my wife and I met with the CEO and here is a summary of what we found out:
Current oil production is over 1200 barrels/day with 1500 expected by July
Reserves have increased by 28% since the last report was published (10Q) (He expects this to meet 35% very soon)
Gas production output is up 34% from last 10Q update
All debt has been restuctured through conventional means (Laurus is gone) and will be announced via PR before end of June
Plans to list on AMEX before end of year (he and his attorney working the details as we speak
And here is the kicker, I asked him how he plans to meet the listing requirments for AMEX or NAZ and he said when I release the numbers for 2nd Q, this will fly. While the stock is up, I will announced a 15MM-20MM share retirement (details still being worked). I believe he said he wants the share count around 30MM total O/S.
This guy is truly driven and has an awesome team making all this happen. He is absolutely dedicated to making this company a major player in the Gulf Area. He said we are not XOM, but we are sure trying to follow their lead.
All in all, great guy and if you get the chance, go see him and see the ops.
He never said we couldn't pass this on, but if you want to tell others please do as I am out the rest of the week and really don't have the time.
Glad I kept my shares!
MTex
Posted by kermit42 on :
Sounds great, care to share the name of the company?
Posted by juice on :
Kermit-please come over to the NCEY THREAD... ***MODS PLEASE DELETE THIS***