quote:Originally posted by roiresearch: Who is our JV partner?
If FDEG is being reluctant at the moment to say more than what they have, then maybe we can research the Joint Venture partner
The JV partner is the outside investors who put up the 3.6 million in funds so the company can drill for oil without having to dilute their stock.
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I realize that - but FDEG did contribute $32,000 recently to the JV partner. Just trying to get around the fact FDEG is reluctant to say too much at this point. If we know who the JV partner is, we can try researching that company as well. Just an idea - nothing more at this point.
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I kind of like that they don't always release PR's. I'm getting a bit fed up with the NDOL conspiracy theories. Anyway I think this one will pay off at the end of this month. Maybe early next month because these guys are usually late.
-------------------- skids are for kids
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Here is the last few months of oil production coming out of the Oklahoma corporation commission. Note we are interested in oil coming out of Pottawatomie county which is about 121,000 barrels a month.
This site lets you search all of the ongoing drills within Oklahoma and Pottawatomie county. Unfortunatley we are joint ventured with a company that I cannot seem to track down. Anyone think that it may be Eagle Explorations? Any ideas would be helpful!
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right now you would be paying .09 per share with an o/s of 46 million and a float of about 10 million, meaning once their is news, buying pressure should run this puppy up fast.
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quote:Originally posted by blackpearlbenz: right now you would be paying .09 per share with an o/s of 46 million and a float of about 10 million, meaning once their is news, buying pressure should run this puppy up fast.
Cheap compared to where it is going to be any day now. This month we are going to see the run begin.
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Their website has also been getting hit pretty hard lately. Goto http://www.metricsmarket.com and type in our website (http://www.fdeg.biz). Looking at over 8,000 hits per month.
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If the company did start drilling on May 3rd and if Mr.Tallant is correct with the 10 days (we should know something), then technically we could see news as early as tomorrow as it will be 10 working days!
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No news on their financials which is over due and no news of the drilling. You would think they would want to keep their investors up to date.
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If you look back at the PR's, it says "spudding" will begin on May 3rd. Maybe the company doesn't think the fact the rig is in place and has been making the initial holes for the pipes is news-worthy.
We as investors/gamblers are looking for mere validation while the company doesn't need to validate anything until the oil is coming up the pipes and ringing the cash register.
I guess it's good - when a otc/otcbb starts issuing news all the time, 24/7, they are usually getting themselves involved in some type of death sprial financing. That is a big plus for the low, low, low volume around here.
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Well news is coming any day now and for the three of us on this stock, at least we will be making coin I am actually surprised many here don't see the opportunity and big run that is about to happen. Go figure, but once news hits, any who didn't get in now will only be left chasing or watching from the sidelines kicking themselves.
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43 Million shares outstanding. So the per share gross revenue potential is $2.76. Reminder we are at 9 cents!!!!! Just going to 18 cents and you will double your money. Thinking we are going to see 24 cents by the end of this month on the run that is about to happen.
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I would have to agree with you. I have done a TON of DD on this one (over a month) and I think we have a winner. I know its a pink and anything can happen but right now I feel like I have a 20 and the dealer is showing a 6.
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If you click on the Oil and Gas Web Application (bottom left) it will load a java program (that will auto download) in which you can search the oil applications. After you download click on 'well browse' and it will let you search a number of things. We are interested in permits to drill in Pottawatomie county. The API county code is 125 to be entered in the top right. Below that enter a date range beginning on 1/1/2006 with no end date (since they had to have some time to get the necessary permits before PRing this to the public). After that hit search now. Now you can see all permits to drill in Pottawatomie county that coincide with our company. Now the only one that matches our drill depth (4500 ft) and formation (wilcox) is the Rusty well. Highlight that and click on permits at the top.
In my opinion this is our joint venture partner New Dominion LLC. Google their name and you will see that they have a new website with an official release date (bottom) of spring 2006. This of course is only my opinion....
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blackpearlbenz, great dd you are getting! Did you see if FDEG has any drilling permits for there own property? There property is what will move this stock up in a major way. They are suppose to drill it right after the hole is done on the joint venture property. Thanks!
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All drilling permits would come through their joint venture partner. I dont believe that FDEG has the working capital or capacity to get permits on their own. As I understand, they lease properties that have potential oil and then partner with someone else to get that oil out. If this is the case and I am right about who their joint venture partner is, then yes more permits have been filed. The most recent of which is the Bulloch well which was approved on 5-12-06. Remember though, this is all only my opinion and DD. I have given everyone here the tools to research the above statements.
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blackpearlbenz, we FDEG has there own property that they own 100%. They have to give up roughly 13% for royalties on it, but we get the other 87%. This is there best property not the joint venture property. There own property is the one that has over 1 million barrels in reserve. They hope to put 5 wells on it and they hope the wells can do about 300 a barrels a day per well. If the joint venture works out that is ok with me, but it is there own property where the excitement is at.
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I understand completely that they have their own property. My question is whether they have the working capital to drill on these properties on their own. From what I have seen, they need "partners" to help them get the oil out of the ground.
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I do believe they have the funds to drill there own property. The plan was to use the same drill on the joint venture to also drill there own property. They bought into this other joint venture property. They wouldn't have bought into it if they didn't have the money to do there own. It is there own property that they are most excited about. If they find oil on the joint venture thats great, but it is there property that could get this stock over a dollar IMO.
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Please read!! This is an email that I recieved from Mr. Tallant yesterday addressing my concern about them not being registered with the oil/gas commission. I thought that I had found a hidden gem with FDEG but it turns out I am dead wrong.
Thank You for your interest in Friendly Energy. The company has had significant delays in acquiring a drill rig to begin drilling either the joint venture or the Pottawatamie Properties. As you may or may not know that there is a significant shortage of drill rigs, crews to run them, pipe for casing, drilling bits and all other required equipment to run a drilling program. The company has had reservations for drill rigs through our operator, since October of 2005, which we are still being delayed for several weeks. The company also has enetered into a joint venture in order to secure access to a drill rig once the JV wells are drilled, and have that drill rig moved to the Pottawatamie prospects, however the JV drilling has been delayed because the drill rig has been committed to another prospect prior to drilling the JV property.These are all issues completely out of control of the company and its management. To answer your question, when the company has a rig being moved to site the drilling permits will be applied for. This will be done jointly by the company and its operator. We hope to be doing this as soon as possible. We hope this answers your enquiry Please feel free to e-mail any other questions you may have.
Sincerly;
Friendly Energy.
What this means in my opinion: 1) We have not started drilling and according to the oil/gas commission website we are not even registered to drill in OK. 2) We have NO permits to drill which means that once we do get a rig we have to wait for the permits. 3) They still have to wait AT LEAST two more weeks until a rig is even available. Didnt they say drilling began May 3rd? 4) I will now be waiting on the sidelines until this company can show me something other than fluff. 5) You all know I wanted this company to succeed more than anyone. If and when something substancial is released I will be back.
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I am actually surprised many here don't see the opportunity and big run that is about to happen. Go figure, but once news hits, any who didn't get in now will only be left chasing or watching from the sidelines kicking themselves.
