Nice PR this morning, however, quite vague. Can you name the company you have hired to complete this evaluation, as well as the expected time of completion???? If you indeed did hire this company than SURELY they absolutely must have provided you with an estimated time of completion for this evaluation. Although it may only be there estimation, it would provide shareholders with a general time course. It’s the vagueness in pink sheet stock press releases that kills them.
I would sincerely hope you could provide us loyal shareholders with the name of the company and their estimated time of evaluation completion. I really hope you choose to provide this information. Thank you very very kindly for your time.
________________________________________ From: rpinedo*bpetroleum.com [mailto:rpinedo*bpetroleum.com] Sent: Tuesday, May 16, 2006 7:27 AM To: Musmacker, Joseph Subject: Re: Clarification STILL needed
Joseph We just hire a reputable Valuation Engineering Company to provide this and all the numbers related to what it takes, How much, time, etc. This will be done very soon, and publish in our website. We do our best to bring value to all shareholders. Regards Rafael Pinedo ----- Original Message ----- From: "XXXXX" To: rpinedo*bpetroleum.com Subject: Clarification STILL needed Date: Fri, 12 May 2006 10:58:43 -0700 Mr. Pinedo,
Excellent PR today. However, I see there’s still only discussion of surface interests primary on marginal fields and STILL no mention or clarification of the “900 million barrel reserve” data. This claim is what brought such intense interest to PGPM on May 1st, 2006, yet there has been no mention or attempt to clarify or justify this press release.
The question is as simple as it gets: when will there be concrete data released to your investors to prove the claims made in the May 1st press release? There must be data in existence to have enabled you to claim this in the PR. The longer this is avoided and the more emails that are ignored, the more skeptical the investors become.
MANY investors just wonder why this data is never released. Data MUST exist to enable you to claim a future pps of $33/share, based on 900 million barrels in reserve and $60/barrel. Now I know my email will probably be ignored like the last few, but maybe you will resume your once fluid lines of communication?
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This company is not good with pr and info, but they are hiring an independant company to evaluate per barrel production. My roommate was in Texas a few weeks ago and tells me Texans have every rig available pumping. I am only holding free shares now but may buy more. Common sense tells me that you don't spend that much money to prove you are right if you know you are wrong.
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Spend what money to prove themselves right? I'm jaded with pinks, very reserved. I asked Mr. Pinedo to identify who they hired, to see if they are reputable........as well as provide us with a time frame in which they think this should be completed. The company they hired HAD to have provided them with a time that they feel they can complete this evaluation for PGPM.
For all we know he hired his cousin to do this. Not bashing! Just saying an example, and that we need more info. It IS a pink, regardless, so the vagueness can be the death of it.
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i thought it was good news, but the price does not reflect it.. as long as they have an independent evaluator, i'm all for it.. wish i had extra cash to buy more at this price today..
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i hate this stock! for now I mean. not really. I bought in a while ago at .15 when I thought it was ready to move up steadily, but good news keeps coming out and the pps drops! I don't understand it, really. Still have faith in it though because it sounds like a solid solid company.
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KIND of bad info in IHUB. Caller said Ed Monet said HE see's the pps up to .25 by end of year, and HE expects the pps to drop down to sub dime amount before things get better .
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this thing acts very strange. volume not big. PPS was down, even below 0.10 for a minute, although it was holding 0.10 in the end. the new PR was not good enough. It is "very vague" as others thought. I hate to see its fall. But if no further good info coming out, it will be possibly falling again, due to possible panic selling. More interesting, I put an order at 0.10. but it didnot get filled although I saw another order filled was at 0.095. very stange. probably somebody tried to manipulate the stock. or something else was going on as others said above
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Thanks, js49886. That was actually better info than the actual PR, IMHO. I'm still sitting at the sideline due to their latter (not very wise) PR's. The first PR was such a bomb created great expectation from this company. Whether their current pricing can hold itself will truly depends on their frankness, professionalism, and expertise in their field, and (at the very least) more wisdom in wording in their coming PR's.
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this company is attrative due to its potential. PPS might scare some guys away, especially because of uncertaint PR news and vague news. I like its no-debt condition. if tomorrow it hits down more, i am going to try to get more. on one hand, it could balance the buy price. on the other hand, it is good for later bounce up.
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I posted this May 9 on the PGPM thread at Hot Stocks Free for All: Consider: 35 years in the 'patch, I've NEVER heard or read a petroleum engineer or geologist refer to reserves or pay in "acre/feet"! NEVER!!Do those yorkies in Irving think (like my old granny) that oil is found in a 12,000 acre lake underground,like a city water reservoir? And all ya hafta do is dip yer 'hose' in it and suk it out! lmao.Doesnt work that way, not even offshore. Rock has VOLUME. Even at 20% porosity (very high), that means 80% of their 500' thick 12,000 acre reservoir is NOT oil.Cuts their 'acre/feet' by 80%. Oil fields are not continuous, uninterupted pay. Go to their website(VERY professional by the way) READ the National Assessment of Oil & Gas Fact Sheet they have there. They estimate 98.5 million barrels of oil for the 60 county study area (yes, SIXTY COUNTIES). And Pilgrim has 1 billion in their little leases in two counties that have been drilled,explored & produced for over 80 years!! lmao. And they are reworking old stripper wells!!!!roflmao. I dont believe it for a second. But, thats jmho.I emailed the acre/feet PR to some friends at Marathon & Chesapeake, mistake. I'll never hear the end of it now. They roared with laughter. sigh Seems 'oil' is the 'in' thing for pinks now, breathlessly announcing that they are changing their business model from widgets to OIL!!!! or GOLD!!!! And overnite at that. By the way,I thought the purpose of Allstocks was to post dd,help with dd and dis-cuss stocks. If you dont like what you read about 'your' stock, dont read it. As for this piece of crapioca pudding, its a POS scam in my opion. Daytrade only. NOT a long or for the inexperienced. It was flatline-dead-no heartbeat till the 'promotion'. I received e-mails about it several weeks ago. Doesnt mean you cant make money,just dont drag the noobs(like me) into it thinking its for real. It ain't
Awful lot of pump & dumps from Shakerzzz & MOMO being dredged up from the bottom of the cesspool and posted here by soop and others, and the newbs and suckers rush in to get a bite of the "nooget". PGPM has a VERY professional website. IF you would GO there and read, you would know why "Eddie" felt no need to elaborate on the 900,000,000 barrel PR. Why ol' Raf talks bs and nonsense. PR was,geeee,just a mistake,misinterpretation,ect,ect.,since the facts are on the corporate site. To repeat it would be FRAUD to the SEC & AG of Texas.As Purl posted on Hot Stocks Free for All, they have no money(few can give a stock an anal exam like Purl or Blue_in_Mich) A little kryptonite: Estimated Net Remaining Proved Undeveloped Reserves* American Petroleum Corporation As of January 1, 2005
Lease Oil Volumes (net bbls) Present Value ($disc *10%)**
City National Bank 018191 21,271 57,865
Climax C 017241 6,213 6,801
Cowan&McKinney 020057 43,036 120,906
Cowen 018323 32,240 10,222
Lilly Hooks 005716 152,925 440,485
Lochridge 005239 74,760 203,699
Morgan F D 013076 85,792 237,396
Meldon White 000697 159,955 349,693
TOTAL 576,192 1,427,067
* Estimation performed by Gleason Engineering ** Estimation based on $40 p/barrel. Current total estimation at $60 pbbl is $2,140,600.50
Future reserve volume of each well is estimated after the deduction of production taxes, the normal direct costs of operating the wells, ad valorem taxes, recompletion costs, and development costs.
Notice the total is 576,192 barrels. A loooonnngg way from 900 MILLION!!!
More kryptonite: Also on their site is the USGS assessment of the Bend Arch/Wichita Falls province,60 COUNTIES, and they estimate 98.5 million barrels possible for the 60 COUNTY area. And PGPM has 12,000 acres in two counties???? I would have posted it but couldnt cut/paste..its pdf. Consider: a billion shares, they manage to dump half,500 mil at say .10 per share. $50 mil and ol' Raf didnt have to get a single fingernail dirty in the sweaty grimy ol' patch.Just sit at the kitchen table...er..corporate headquarters and get rich off suckaaaas.Hmmmmmm. Maybe Im in the wrong game! This is a VERY professional,carefully orchestrated (they cover their six on their website),well run scam in my opinion. As Ive said before, POS PR's are NOT dd, YOU didnt do any AT ALL,did you. Just believe the paid pumpers here and enjoy the "lube" job. By the way, Shakerzzzz & "Momo" are NOT daytraders. That requires skill, ability,and intelligence.The only way they make money on stocks is by p&d,the con,the scam. The fix has to be IN, the game rigged.BEWARE. Remember the Law of the PEZ:"Shareholder profits are shortterm loans" Murray Pezim
-------------------- It takes a lot of attaboys to make up for an aww chit
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