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[QUOTE]Originally posted by BigPayOut: [QB] Great read, kinda long but very good!! By: usc_cowboy 10 Mar 2006, 07:07 PM EST Msg. 41720 of 41725 Jump to msg. # Fellow Pebblers....I am posting this rather lengthy transcript of the NOLA visit by our traveling team on Feb 20. I hope RB servers let my post go up in its entireity. I did this as a prelude to disecting the commentary so that I can do some additional DD and possibly shed some light on the cash flow out of the pit. In the process of transcribing I was very moved by the comments made during the taping, I tried to set the stage for each segment, location, visual etc. and then give you the words spoken by the people near the camera that was picked up on the audio track. Where possible stuff in quotes is by the commentary by the camera man and whomever was closet to the microphone but out of the field of vision. I will post later after I digest the technical extractions in an effort to better understand the cashflow from the sand and gravel operations. Please read the following and be prepared to be moved, just listen to the humanity expressed during various segments. "May Almighty God rest the souls of the deceased and comfort those who suffered and are still suffering. Amen" attached: Segment 1 Johnny Zorne as tour guide [standing in front of Progas Office] says: When PBLS bought Progas they bought all their investments. John (Burge?) of Progas [in his personal office] says: under contract for 5 years, recovering from Katrini and Rita, off 80 % from last year (2005?), have now (Feb 20, 2006) back up to 75% of the prior year, a good thing is that they are now at 100% of what the profits were for last year by making some other deals so we’re back up to where we would like to be, we’re still behind and need to catch up on our gross sales but we are on a pace to be better than where we were last year, we had a great year last year, our best year ever, in terms of revenues and just making money and all that good stuff, we don’t have any debt, my get to go to Kentucky this week (week of Feb 20, 2006) and want to visit with John (Barksdale) to make sure we’re optimizing what we’re getting for our barrels there, and once we drill some wells in Wyoming and Nevada, and I’m real excited about the Wyoming stuff , I don’t know as much about the Nevada stuff but Wyoming is supposed to be one of the hot spots and one of the main reasons is they never had a way to get the gas to the mideast and eastern markets they always had to go through the Kern River pipelines and others that all go to the west coast and quite typically that’s what we call ‘Rockies’ and quite typically that pricing scenario is a lot worse now the have made some trunk lines that go to the east that can get them to Chicago and if you can get it there you can get it anywhere, and so…… Segment 2 Investor [ on street looking at United Soils truck parked on street] says: Here we are just stooped on the side of road and we run into United Soils just coming from, I would assume the PBLS pit that’s just right down the street we’re basically just waiting for another investor and this guy just pulls in so you know they are out here, this is the size of the truck (20 yards?), I’m going to walk around back to see what there plates say , sure enough Michigan license plate no denying it there out here doing business, I just talked to the driver and the driver said he was just coming from the pit , an interesting sign over here (on truck) ‘Hurricane Relief’ , (Johnny Zornes? Speaking “they’ve got 11 trucks parked at the pit” , you’ve got 11 trucks parked ? you guys just coming from there with a load of material? (truck driver speaks) no I’m empty right now , Oh you empty? Yeah, here’s the card and that should be the owners name on it, great super so you guys are taking a lot of material out of there uh? Oh yeah Where you taking it to? (Johnny Zornes speaking) 20 yards per one of these trucks, (truck driver speaking) yep, the levee over here at Irish Bayou, you’re taking it over to the levee Yep (Johnny Zornes speaks) Irish Bayou thanks so much Segment 3 [looking across road again] one truck leaves and another one shows up, these guys are really really busy and guess where they are all coming from? This is a second truck , we’re just standing here, #18, we’re just standing in a gas station waiting for another investor, we’re 7 miles from the pit, this guy is obviously just back from the levee, [discussion about having another trailer on it called a ‘train’] (truck driver comments) we’ve got some of them running today, there goes another one down the freeway, yeah they’re pretty impressive we get talked to all the time going down the road, we got 11 of them here , how far are you guys hauling to right now? (truck driver) We’re hauling over to a levee of the 90 and 11 right now, 90 & 11 (Johnny Zornes introduces himself to the truck driver) Segment 4 [looking at the ‘Murphy Sand & Gravel sign at pit area entrance] Here we are approaching the pit, trucks just coming and going, coming and going, amazing, are they a real company? One would guess, [in front of the PBLS scale house} (Johhny Zornes speaking) new porches and they just put the archway on here, that is the scale house where the trucks come over, ‘that’s the scale house?’, yeah that’s where they weight the trucks, everyone gets their ticket, they have to check in here if they come in and get their empty weight and they come out loaded and we scale them out we ticket them and a lot work out of that, when we come back over we are going to come back over the scale, okay great, [conveyor equipment out of car window as they enter the pit area] (Johnny Zornes speaking) a lot of gravel out of here, gravel, sand, pea gravel, mason sand, you can see some of the United Soil trucks over here, there are a bunch of them, 10 of them in a row that’s a bunch of them also waiting, they just came down from Michigan, are they waiting to get gravel?, no they waiting for other truckers to get down here Segment 5 [looking out of car window seeing PBLS dredge] Johnny Zornes narrates:) this is our dredge, that was a dredge from Phoenix, we are fixing to get that dredge back to us, that was .. we sold to Ponchatrain Materials but legally that’s our dredge, that’s a brand new dredge we had built, “You just had that built?” Yeah, it was a few years ago, a couple of years ago, but that dredge has a value of a couple a million dollars, “Is that right?, [looking now at another open conveyor/loading system] “..he’s loading sand in there now”, again like I said this is Ponchatrain Materials, they produce a lot of masonry sand and small rock, “Ponchatrain Materials?… they are a separate company?” , Yes, they are in here, they are contracted under Phoenix, a big outfit, they send this small gravel, pea gravel, really small rock smaller than that….. Segment 6 [looking at an open conveyor/loading system in the distance] “wow, there is activity all over the place, they are loading up right now, you see, this is only one of them, I think he said 5 acres, there are multiple sites like this, …” Segment 7 [looking at piles of sand in the distance with trucks present] “..here at the otherside they are loading the trucks for the levees, and you can basically see over here, behind you, is the PMC, Ponchatrain Materials Company, Yeah! Johnny was talking about some in the car, he was discussing it, another one of our subcontractors…” Segment 8 [looking down road with a truck approaching] “…listen, I don’t mind you knowing who I am (?Hank ) ..in the sales end of the construction business all my life, remember buying sand and gravel from Murphy back in the 70’s, it was a ‘Mom & Pop’ operation.” Segment 9 [looking at a cleared area of the pit] (Johnny Zornes walking narrative) when we are talking about the gravels in the area out here…, and Ponchatrain Materials is running out, not Ponchatrain but TXI, they don’t have the land we have, what I’m about to show you all is amazing cause I spent a lot of time out here running shifts, the gravel…, and the big gravel you can just about kick it, just like we’re doing right here [Johnny kicks with his foot at the surface] see this large gravel, well, walk this way I’ll show you why we are clearing this, “…this has all been cleared in the last month or two?” Yeah, now this area here [pointing to a mound of reddish dirt] we are going to take what is known as ‘over-burden’, everything we have out here we sell, we sell the ‘over-burden’ to the Corps of Engineers and these people working on the levee projects, that’s the stuff we’re standing on right here, in some area out here you go down 20-25 feet to hit gravel, others like we’re standing on right now you kick the gravel, the gravel is the biggest thing in the cement industry out here, concrete industry because they are going to need it in the rebuilding of homes out here, driveways, homes, bricks, everything, we have the material out here we have the material out here, we have over 800 acres of it, and we are the only one with that much in the area, that much product, that many minerals out here right now, every one else is used over the years like I said earlier, they are either going to come to us or we are going to produce it ourselves, the reason this is being cleared right now is that one of the companies under contract to Phoenix is getting ready to dredge this area and they are going to be selling a lot of materials out here, lot of minerals are going to come from these people. Right now, they haven’t started, they’re in the early part of the clearing but this area has been cleared, you all walk with me, you going to actually see something that nobody…., the minerals are right here in front of your eyes, I’d like to show you the abundance of it, this is what’s being dredged, this is where they will start dredging, see, like that open conveyor over there, that’s going to be a brand new one set up here, close, it’s going to have 200-500 feet of pipe, they are going to start dredging…..[fades out as he walks farther away and camera operator voice overpowers his voice] ..this is one area and then there’s going to be more on this 800 acres, but you can put 3,4,5,6 companies in here, it’s not going to be just one company, major companies are going to come in or we have the option of doing it ourselves, for us it is easier to hire or contract someone out and they’ll do it rather than us to have the maintenance and the expense, and theoverhead, we’re doing it the smart way, we’re running…, we’re letting them produce it and we are keeping our expenses down so our profits go up and we all benefit from it. I want to show you all our product….., “this is the clay they were talking about that will possibly be using for the dike, I guess?” [Johnny Zornes showing gravel, then red clay material over-burden] once you start hitting rock you don’t want to get a load of dirt in the rock because we get to much money for the rock, once they start we will sell the over-burden to the Corps of Engineers, the dirt that’s coming out of here….for $4-$4.50 because you don’t have as much minerals, the gravel, sand, …… Segment 10 [standing on street, rubble, etc. all over in piles, looking towards a small house] (Johnny Zornes narrates:) this was my house, “Wow”, “..so this is where you grew up, huh?”, “Man”, see the ash, from the roofs, I figure you guys couldn’t get any closer….this is my home, this was my house, this is where I lived with my mother, brother,…..they have a home in (????ula) now, can’t get anymore first hand than this, “….red cross van coming, is that right?” Yeah, handing out food, “you all want lunch, it’s coming up” Aw geez…..yeah, “here comes the red cross, passing out food I guess, …absolutely.” “ The mayor of Slidell was coming by my home and they are giving you hot meals..” “Want some food?” “No, actually those chips filled me up” Segment 11 [ looking at a specific pinkish colored one story stucco house on a corner with writing on it] “Yeah…you can zero in and see where they painted on there, so they tell you they took a body out of there on 9/15..” painted message on house says “taking one dog” “they said they took a lady out of there, probably so…Wow, take a look down the block”, “…and again, just looking down the street, kinda makes you happy living where you do.” A grateful and humble USC Cowboy [/QB][/QUOTE]
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