-------------------- "Sometimes I lie awake at night, and ask, 'Where have I gone wrong?' Then a voice says to me, 'This is going to take more than one night.'" - Charlie Brown (Charles Shultz)
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My stomach feels like I'm just getting to the top of the big hill on a rollercoaster! LOL
-------------------- "Sometimes I lie awake at night, and ask, 'Where have I gone wrong?' Then a voice says to me, 'This is going to take more than one night.'" - Charlie Brown (Charles Shultz)
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Most of the oil field acquisitions have been fairly recent as far as I know. Same with the ProGas so its just a matter of time to jump off the pinks. The value we saw previously when it spiked was hurricane Katrina and the Sand & Gravel pit being located in the best area for gulf restoration. I don't think we've seen any figures yet on how much business they have done since the reconstruction had begun. But from a contractors point of view it has to be astronomical. This along with their trucking company!
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Mike stated they are in the process of retiring the 100 million shares.
Also stated they have a genius for their aquisitions manager who's plan is to pick companies who's owners/management expect to retire out 5 years or more and offer them cash, restricted shares, preferred shares and guarentee minimum cash settlement at end of five years or much more depending on pps of stock.
Plan is minimum dilution, and creative financing with preferred and restricted shares.
We will all know what the O/S is beginning of Feburary. Also, SEC is pushing them to move off of pinkies with this type of revenue so expect a faster move to different exchange. Also talk of AMEX immediately. Also expect more major aquisitions soon. Also 1 billion revenue in three years is target.
-------------------- Lil,
Dont LOSE more than you can afford to invest....LOL
I'm buying low and selling into the run...
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Freddy very simple, Pbls was a sub penny before Katrina they were sand and gravel a couple of costruction companies' and a trucking company. After katrina the pps shot up to .128 because of the position they were in. That is what launched there plan into warp drive with a hughe influx of cash all of the oil and gas companys they have bought and leases have been this year. Now most of the oil and gas remains to be exploited yet but they are to date pumping almost 500 barrels a day out of the ground next year should be a real barn burnner for this stock imho and also I will feel that you will at least double your money yet by the end of this month but just my opinion. As for the numbers we have is what the co has told us read the dd on this post and you will see the whole story. lol
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This a great link for people interest in Nevada oil and the great reward that could come out of that state it seems like pbls has really done its homework. Article is long and full of dry material and different links a lot to digest but worth the read if you have your money going to that state wich we do through pbls.
Higher prices for crude have sparked something off an oil boom here. As the I-Team has reported over the past three years, many oil experts think Nevada has almost unimaginable potential as an oil source.
Oil wildcatter Charles Laser says, "You have the largest organic mature rock source anyplace in the world except Saudi Arabia or Kuwait. California, Texas, Louisiana -- they have 400 to 1000 feet of source rock. You have 2000 feet of rich chainman shale, creating billions and billions of barrels of oil that haven't been found yet."
LOVE IT, LOVE IT!
-------------------- Lil,
Dont LOSE more than you can afford to invest....LOL
I'm buying low and selling into the run...
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Is there oil in White Pines County Nevada? Alot of people other than PBLS are banking that there is. This is not from PBLS.
Recently, scientists have been studying Nevada using NASA’s LANDSAT satellite which looks at the Earth using a myriad of different lenses including, Infra-Red, UV and 7 other spectral bands. Interestingly, areas in the Middle East such as the giant oil fields of Iran show up clearly on a satellite as being brighter or lighter in color and cooler at their surface than the surrounding non-producing areas. Similarly, this same technology can be applied to Nevada which is very similar in nature to the Middle East. For example, those very large fields in Railroad Valley Nevada, including the Grant Canyon and others show up bright on the satellite just like the fields of the Middle East. We therefore, may conclude that any other bright spots in the area should be closely scrutinized for possible new fields.
We have discovered 20 areas in Nevada that exhibit the same satellite response as above. Some of these bright spots are 10 times the size of the Grand Canyon field and one is a giant—an anticline (12 miles long by 5 miles wide) and encompassing acres in size, comparable only to the huge structures in the Middle East. We have acquired over 20,000 acres of Federal oil leases on what we consider to be of very high potential for discovering new reserves.
In addition, we have tested each of the bright spots with over 1,100 geochemical and magneto telluric surveys. Geochemical surveys involve taking an augured soil sample on the bright spot 3 ½ feet deep and testing it using a field portable gas chromatograph which tells us if the bright spot contains any of the trace gasses that are commonly found above productive oil fields. The results were very encouraging over more than 10 bright spots.
More than 400 magneto telluric surveys were preformed on the same survey marks. Magneto telluric surveys measure the solar energy and electromagnetic radiation which penetrates deep into the Earth. Similar to the way that seismic sound reflections are recorded, the electrical energy is recorded as it passes through the Earth on its return to the surface. As this energy passes through any hydrocarbon or oil bearing strata, it causes a positive deflection on the recording instrument. Calibration surveys were run over the known producing fields in Railroad valley and then compared to surveys of our prospects. The results again, were very encouraging.
Lastly, our geologists and consultants are among the most experienced and respected in the oil industry. Dr. Dan Francis, professor of Geology at California State University at Long Beach is a well noted author on geology in Nevada with more than 7 publications to his credit. Dr. Francis has written a report on the White Pine prospects. Dr. Francis identified a correlation between the regional gravity of the fields found in Railroad Valley and our bright spots found in White Pine County. Dr Francis brought to our attention that—in addition to the satellite, geochemistry and telluric's; the regional gravity shows that all our bright spots are on the surrounding edges of these gravity lows. Gravity lows are akin to giant cooking pots that the fields must be close to but not too close. Any areas within the gravity low are too hot and thus cooked dry while any too far have not been cooked enough to bring out the oil. Again, the results were very encouraging.
A little history of oil in White Pines County Nevada.
WHITE PINE COUNTY The first known oil well in White Pine County was drilled on the Illipah anticline in 1920, but there was nterest at least as early as 1909 (Nevada State Journal, Mar. 15 and Apr. 23, 1909). Shows of oil and gas in the shallow Illipah well encouraged the drilling of several more wells in the vicinity.
The drilling of the Standard-Conoco Meridian Unit No. 1 (fig.18) in 1950 marked the beginning of modern oil exploration in Nevada. Several more Standard-Conoco wells followed, but little other drilling was done until Gulf Oil Corp. drilled a series of wells in the mid-1960’s.
Exploration in White Pine County has continued because of the numerous shows and the presence of good potential source rocks. Two surface occurrences of oil are known in Mississippian Chainman Shale in White Pine County. In Hamilton Canyon(sec.3, T17N, R58E), greenish oil occurs in fossil cavities voids, calcite veinlets, and on fracture surfaces(Humphrey, 1960, p.110; Poole and Claypool, 1984). The other occurrence is near Little Antelope Summit where yellowish-green oil occurs along some calcite-lined fractures in a limestone lens that crops out in sec.34, T18N, R58E (Poole and Claypool), 1984).
I will tell you that there are over 60 wells that have been dug in the county in the past. To keep this post from becoming a book I will spare you from posting all 60 but here is one example of the remarks of one of the wells. Remarks: Oil shows were reported at 2,272-2,486 ft and 6,419-6,433 ft. A gas show was noted at 8,327-8,342 ft. Chainman and Pilot Shales source-rock analyses are avail- able at NBMG. See McJannet and Clark (1960b).
I would bet that the latest PR was meant to say 15,000 barrels per month.
Tom Chidsey, petroleum section chief with the Utah GeologicalSurvey, has provided some background to this discovery. The last major new oil find in Utah was the 1975 discovery of the Pineview Field in the northern part of the state. Pineview has produced over 31 million barrels of oil and is still pumping nearly 15,000 barrels per month. This excerpt is from Wolverines newly discovered Covenant Oil Field news. The Pineview Field is approximately 240 miles From Ely Nevada in White Pines County.
Don't you think that it would happen after February (The move). The CEO said that the full acquistion of buyback shares would not be complete until 2nd quarter 2006. How could they move off the pennies without that happening first? I was thinking that it would take me a lttle longer to see my major profits from this stock. I think that it is going to keep rising but steadily until end of first quarter. Is that wrong?
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Mr. Paul Alonzo, CEO of Phoenix, stated, "This initiative signifies the Company's commitment and unwavering focus to maximizing shareholder value. To date, we have been extremely reserved in share issuances and are now in the cash position to reward shareholders by actively repurchasing outstanding common stock to further propel the company's underlying fundamentals." He continued, "It is our plan to complete this stock repurchase in conjunction with the ongoing initiatives in place to facilitate fully-reporting status and an eventual exchange migration. We anticipate that we will be able to complete both initiatives by the end of the second quarter of next year."
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