posted
It is also one of the only penny ones that reports and seems legit... all the others are scam city I think.
Posts: 2063 | From: Europe | Registered: Feb 2006
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posted
took a while, but I'm in. folks seem to be sleeping on this, not for long though!
Posts: 2741 | From: Seattle | Registered: Feb 2005
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posted
Ok Im going to hang out wid you all with 50,000 shares to start
Posts: 1068 | From: Utah and Put-In-Bay Ohio | Registered: Jan 2004
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posted
Joe will this stock take as long as RSHN to perform??? It is one of the only one's that has not run yet... Is this a sleeping giant???
Posts: 448 | From: New Jersey | Registered: Aug 2005
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posted
i think its a sleeping giant.. I'd rather buy in before the pr, or news, than sit and chase...
Posts: 6397 | Registered: Jan 2006
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Does anyone have the website info for this stock. I would like to contact the company and ask the person in charge what this company is expecting in the next couple of months...
Posts: 448 | From: New Jersey | Registered: Aug 2005
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quote:Originally posted by netfreak: Joe will this stock take as long as RSHN to perform??? It is one of the only one's that has not run yet... Is this a sleeping giant???
Well for one thing this is not a PR generating stock. The last thing I see is a form 10kSB annual report filed on March 31 and it was not the most uplifting. Than before that on March 4th DUNCAN SCOTT E files Form 4, Statement of Changes in Beneficial Ownership of PANGEA PETROLEUM The last PR put out by papo was Feb 8th
Posts: 1068 | From: Utah and Put-In-Bay Ohio | Registered: Jan 2004
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Gotta look at the future. PAPO has lots of scheduled drillings in 2006 accorrding to news. If one update is a gusher, watch out baby!!!!!
Joe
2006 OUTLOOK
Pangea has identified additional prospects scheduled for drilling in 2006 in Colorado County, Texas; Brazoria County, Texas; White County, Illinois and Steuben County, New York. In addition we are monitoring activity in Henderson County, Texas and De Witt County, Texas for possible investment. We are also in the process of evaluating several additional prospects for inclusion in the 2006 program.
We participated in our first project during 2006 which was the drilling to the Wilcox in Colorado County, Texas. The well was drilled to 10,050' during January 2006 based on data developed from a 3D seismic survey and analysis of existing Wilcox formation in the area. The well found the target objective lower than anticipated in the geologic structure and was tested in three intervals and deemed sub-commercial. Further review is being conducted to see if any locations can be identified for drilling on the leases further up on the structure. Pangea has a 2.0% working interest and a 1.5% net interest in the prospect
On January 6, 2006 we acquired a 1.5% working interest in oil and gas leases located in Fort Bend County, Texas and a 2.5% working interest in oil and gas leases in Steuben County, New York, in a restricted stock transaction with Scully Oil and Gas. As consideration for the interests we issued 20,000,000 of our restricted common stock and will issue 10,000,000 warrants upon meeting certain revenue targets in the two projects.
The Fort Bend County interest of 1.5% is a 421 acre project currently producing approximately 6500 barrels of oil per month from fifteen wells in the Miocene and Frio sands. Current plans call for the drilling of four additional wells in the next six months. Pangea will not receive revenue from the project until payout by the operator of drilling and acquisition expenses. Payout is currently expected before the end of 2006.
The New York interest of 2.5% covers approximately 50,000 acres in Steuben County, New York. The project is currently shooting twenty-two square miles of 3-D seismic. Thus far there are two well defined drilling prospects in the Trenton Black River, and two leads identified in the Oriskany and Onandaga Reef sands. Additional seismic work is planned for 2006 and it is anticipated that drilling on the first well will commence in the second quarter.
On January 6, 2006 we purchased a 3% working interest and a 2.25% net interest in a prospect in White County, Illinois that encompasses approximately 880 acres. The primary target is the Warsaw Sand at 4200' with several secondary objectives present up to 3200'. The first well is anticipated to be drilled the first quarter of 2006 and will be drilled beyond the Warsaw to approximately 8500' to test a geologic feature in the Trenton Black River, which appears to be similar to the seismic features found in the successful producing areas in New York and Michigan.
In February 2005, Pangea purchased a 7% working interest in a re-entry workover in Brazoria County, Texas. The well was drilled in 2002 and experienced mechanical difficulty in the first of four zones in the Miocene sands. The logs indicate three additional sands behind pipe which will be sequentially completed for the project. Work is expected to begin prior to the end of the first quarter 2006.
Pangea is continuing to monitor additional projects for potential participation:
Henderson County, Texas is an 11,500' test in the Rodessa and Pettit with a secondary objective in the Upper Travis Peak. The first well has the potential for an additional well in the fault trap and, if successful, will lead to drilling in four additional analogous fault blocks on the leased acreage. If we participate in this project we expect to have a 2% working interest and 1.54% net interest in the first well. We are still evaluating the well and if participation is taken as currently expected, the drilling will not proceed until mid 2006.
De Witt County, Texas is a 4800' test of several stacked Yegua objectives identified by 3D seismic data. The prospect is on trend with existing Yegua production and there is considerable shallow Frio and Miocene production that appears in the area. Two recent 3D wells to the south back up the seismic analysis on the prospect and if successful, the lease could provide a follow-up location. Pangea plans to commit to a 6.67% working interest and a 5% net interest in the prospect. It is expected that rig availability will allow this well to be drilled in the fourth quarter 2006.
Pangea is actively reviewing additional prospects in Texas and Louisiana to add new wells to the prospect list. We are continuing our strategy of evaluating primarily shallow, onshore oil and gas projects that avoid investing in "wildcat" or exploratory wells. Focus remains on investing in development well prospects that are supported by seismic data, proven production from the surrounding area and positive information from adjacent wells. Additionally, Pangea will continue to diversify our risk by taking a minority working interest in the prospects such that we are not dependent on any one project or highly impacted by an unsuccessful well. The ability to invest further will be heavily dependent on securing additional capital from investors or debt financing. There is no assurance that additional equity or debt financing will be available on terms acceptable to Management.
posted
hahhahaa, put-in-bay???? no kidding. my buddys brother has a ton of money and we used to take his houseboat there for weekends. called it .. put-out-bay.. wow.. he owns a hotel on one of the other islands out there now. hahhahha love the bars there. Bars there are like no other. that place that has the longest bar ever. yep, put-in-bay rules. I grew up in columbus, but am in the southwest now... I'll probably go back there for 4th of july. like i always do.. HUGE PARTY then.. peace
Posts: 6397 | Registered: Jan 2006
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posted
This seems very solid. Despite some other oil stocks tanking, this is hanging pretty tough. Glad I got in at this level. One of my few long term plays. Good luck everyone!
Posts: 2741 | From: Seattle | Registered: Feb 2005
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posted
Im in Thanks for the info Mr. Million seems like a perfect entry level
Posts: 1068 | From: Utah and Put-In-Bay Ohio | Registered: Jan 2004
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posted
Well lets make it solid at .04 than everyone that sells thier NDOL needs to put it in PAPO
Posts: 1068 | From: Utah and Put-In-Bay Ohio | Registered: Jan 2004
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posted
i don't know why u are so excited with this stock. they have between 1.5% and 3% interest. What do u espect? no offense just a simple question
Posts: 28 | Registered: Apr 2006
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posted
Poor poor sellers what can I say. Good luck on your next investment.
50MA has been papo support for some time now. Every time it hits 50MA there is a strong bounce up or start of a new uptrend. Looking foward to that strong bounce next week. imho
posted
this should have a good week coming up. im looking for this to go to at least .04 by the end of week. past chart trends show that this should bounce. I'll probably double down on this monday morning.
Posts: 6397 | Registered: Jan 2006
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posted
No matter what happens the price of oil will rise again especially with the summer months and vacation travel season on the way. So stay poised!!!!
-------------------- Why not make some money, Everyone else is!!! Posts: 60 | From: North Carolina | Registered: Jan 2006
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