VNBL has a 5% interest in a well that is currently being drilled as we speak. They expect to prove reserves of 11 million barrels of oil from an historically proven territory referred to as the Clovelly Field. From this link you will see the Clovelly Field has been producing oil and gas for many years. http://www.cgrpttc.lsu.edu/lainfo/prodfld/ (Scroll Down and select Clovelly) Highly unlikely they won't find a payout in my opinion.
The O/S on this stock right now is 114,679,131. As many of you may be aware, the SEC does not allow a company to record reserves as an asset on their financial's until it has been proven. It does not matter what type of technology you use to show there is oil under an area of land, it is not considered proven until you have drilled the property and have proven a plan of recovery of the oil.
Now for the fun part -
11 million barrels x $70 a barrel = $770,000,000
$770,000,000 x 5% interest = $38,500,000
$38,500,000 / 114,679,131 shares outstanding = asset book value of 34 cents a share.
Now for real book value:
Asset from new well if proved = $38,500,000
$38,500,000 + $1,825,000 assets currently reported in most recent filing = $40,325,000
$40,325,000 - $612,000 in total liabilities reported on last SEC filing = $39,713,000 Total Stock Holder Equity
$39,713,000 Total Stock Holder Equity / 114,679,131 Shares Outstanding = 35 cents Book Value.
If they do hit recoverable oil, the book value of the stock will jump to 35 cents a share. Now when we consider that oil stocks are currently trading two - three times book value, we could theoretically see the stock trading to as high as $.70 - $1.05 in a very short period of time. That would generate one heck of a return for a stock currently trading at 2 cents a share. Now I am not speculating the stock will ever trade to $1.05 but I have however proven it to be a real possibility if they do prove oil with the current drilling program.
Considering today’s technology used to identify oil reserves, the chance of not finding oil in this already proven area have been significantly reduced as opposed to several years back. In my opinion. I believe it is highly likely the Drill Rig will discover what VNBL and the JV’s are anticipating. I don't seem to be the only one expecting to see value added to this stock, let’s take a look at the CFO / CEO trading action.
Catherine Thompson is the CFO / CEO of VNBL, below I have outlined her trading pattern and dates. The obvious here is that if anyone is going to know where the stock price is going to go, it is going to be the CFO / CEO.
Lets first point out that Catherine was selling her holding of stock in this company as late as October of 2004. Obviously she knew what she was doing as the stock has done nothing but head straight down ever since.
Catherine seems to now have a change of heart as to the direction she believes the stock will be trading as shown by the shares she has recently taken on with no SEC filings indicating she has sold a single share since October 2004.
Stock Transactions: 7/1/2005 - 700,000 Shares at 10 cents 2/6/2006 - 1,166,667 Shares at 3 cents 2/9/2006 - 55,000 Shares at 3 cents 3/31/2006 - 897,462 Shares at 1.3 cents 4/25/2006 - 618,519 Shares at 1.35 cents 5/4/2006 - 1,041,464 Shares at 1.12 cents
Catherine has quite a large position of stock in this company and as I stated, she has not been selling but taking on even more shares. My guess is that the reasoning behind her taking on all these shares revolves around what she anticipates the value of the stock to be once it can realize the Clovelly South Prospect reserves in its financial filings. This is just a hunch but if the reason for holding all these shares is not because of the Clovelly South Prospect then it must be because of something else she is in the know about. It only makes sense that Catherine has a much better insight as to which direction this stock is going to trade in the near future than I do for obvious inside reasons.
The last thing I would like to point out here is that as of May 2nd 2005, VNBL came off the SHO list. To get on the SHO list, there must be an illegal necked short position in your stock. Those that sale these illegal shares are very organized and very in tune with a company’s status. These large organized groups sell these illegal shares into a stock they believe will never have a viable business and will just disappear one day. In this situation, the large organized group never has to cover there illegal shorted position.
I have studied this illegal shorting activity for the past three years now, I have become very knowledgeable on this subject. One thing I have found is that you can buy up all the shares in your own company you want, you can buy up the entire float, but the most successful way of forcing these groups to cover is by adding real value to your company. I can go into how this works in greater detail on another date but my point here is that smart money found a viable reason to cover there illegally shorted position.
I do not claim to be an expert on fundamentals but I do believe this DD summary to be fully factual and accurate to the best of my knowledge. All of this information has been generated directly from recent PR’s and most importantly the SEC filings. If anyone has any question or needs me to go into greater detail, don't hesitate to ask. I believe this stock to present the home run possibilities everyone hopes to be a part of and I wish everyone the best of luck.
-------------------- The difference between genius and stupidity is that genius has its limits
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When you hear them refer to our well as Allain LeBreton No. 2, did it ever get you wondering if their was a Allain LeBreton No. 1? Well you are in luck because I have the answer for you right here.
I have found that ORX Resources, a private organization, is the operator of our Allain LeBreton No. 2 well. I have also found they were the Operator of Allain LeBreton No. 1 as well. Here you will see they had run the pipeline to put that well into production.
ORX RESOURCES C/O C.H. FENSTERMAKER & ASSOCIATES, INC.
DESCRIPTION OF WORK: Proposed installation of one 4-inch flowline, approximately 7,494 feet in length to serve and produce the ORX Resources, Inc.- Allain Lebreton No. 1 Well. The line will be installed from the well, across the levee and then directionally bored below and existing ditch and roadway. The line will be installed on the surface of the marsh and directionally bored from the east side of the Hurricane Protection Levee below an existing ditch and roadway. An existing permitized pad site adjacent to the road will be used for the entry point and the backstring of the pipe will be placed on rollers adjacent to the levee at the exit point of the bore. The levee crossing will be conducted in accordance with U.S. Army Corps of Engineers’ specification. No tracked or wheeled vehicles will be used for the installation of the pipe across the marsh. http://www.slld.net/mins-agendas/aug.html
The well was not however a perfect well. It produced natural gas at a strong rate of 2.55 million cubic feet per day but the oil production was not as what was expected in that they found oil and condensate as you will see here in a PR from a JV at the time. http://www.sism.com/Ioc04082004.pdf
In addition, the Allain LeBreton No. 1 well was drilled to only 13,140 feet as seen in this PR from the former JV. http://www.sism.com/IOC%20PR%20Feb%2013%202004.pdf The significant difference here is that ORX Resources and the JV's have decided to drill the Allain LeBreton No. 1 well down to 14,500 feet where they anticpate from further 3D Seismic survey's they will locate 11 million barrels of oil.
The Allain LeBreton No. 1 well showed signs that the oil was there for the taking, all we have to do this time is just tap into it and hopefully drilling down another 1,400 feet at a new location will do the trick.
Worst case scenario we only find gas:
2.55 million cubicfeet per day is equal to 2627 MMBTU per day
2627 x $7 Average per MMBTU = $18,389 per day (not accounting for higher winter pricing)
$18,389 x 365 days in a year = $6,711,985
$6,711,985 x 5% interest = $335,599 Annual Revenue for VNBL
At this time, I do not know the potential size of the natural gas reserve so I cannot calculate how much this reserve would effect the book value of VNBL as I have if they locate oil.
Not bad when you consider the stock is trading at 2 cents with only 97,595,274 O/S and very little debt. I've seen oil company's trading much higher with no revenue stream and a much higher O/S while carrying a very heavy debt load. In the least, you know your secure entering the stock at the current trading range
-------------------- The difference between genius and stupidity is that genius has its limits
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quote:Originally posted by Miss mu: Oh my god! WTF!! It crashed!!!!!!!!!!!! you guys are children!!! Like I bought this at these levels. Like I would listen to anyone on these boards. You loseers pumpers are fools and anyone that get sucked into your pumping tactics I feel for them. The innocent newbies that got caught into buying in the high 6's and 7's are down huge because of you scumbags.
You're an adult. Act like one. Everyone loses at one time or another. Listen to the rules...
Don't risk what you can't afford to lose.
Protect Capital
Protect Profit
I am sure there are more....but obeying those simple rules and not searching for the BIG "silver bullet" payoff is the trick. Take you 5% or 10% and be happy. If you make more all the better. Slow steady building of your assets.
I am new to the pennies as well. I listen to those here and I have lost, pofited and learned.
[ July 09, 2006, 20:13: Message edited by: portman ]
-------------------- - "Pay it Forward"
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Great news Investor relations got back to me on my question today and they were very quick so someone really cares about making their shareholders very happy.
My question: Was wondering when are you estimating will the drilling to 14,200 feet will be done and also when is your next update? Thank You.
Their answer: Good question. I think we will be close to the original target date, which was 35-40 days. I think we may be on the sooner than later side. I will be at the facility on July 24, and do anticipate were down at depth by then. That is two weeks from today and would be the 35th day. We should update again this week, my guess is by the end of the week however.
This to me is great news anyone else has any other questions ask them yourself they seem to be straight forward on anything. Can someone also copy this to the ihub board so that Bmiles can be aware of whats going on. Their email address investorrelations*vinobleinc.com
-------------------- The difference between genius and stupidity is that genius has its limits
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posted
Vinoble, Inc. Changes Name to Matrixx Resource Holdings, Inc. Jul 13, 2006 4:00:00 PM MALIBU, CALIFORNIA -- (MARKET WIRE) -- 07/13/06 -- Vinoble, Inc. (OTCBB: VNBL), announced today that in conjunction with its focused acquisition and development strategy, the Company will change its name from Vinoble, Inc. to Matrixx Resource Holdings, Inc. Effective Friday, July 14, 2006, Vinoble, Inc. will change its name to Matrixx Resource Holdings, Inc. The new symbol assigned by NASDAQ will be OTCBB:MXXR.
Announced late last year, the Company introduced its new corporate strategy by pursuing acquisitions in the Oil & Gas and Mineral Resource sectors. Subsequent to the announcement, Vinoble released its intent to acquire a majority interest in a gold exploration property known as the Hazard Lake Property in the Red Lake District of Ontario, Canada. Additionally, the Company announced its intent to acquire a minority interest in an Oil & Gas prospect in the Clovelly Field in southern Louisiana. Both acquisitions have been finalized.
Currently, the partners of the Clovelly Prospect have contracted Grey Wolf Corporation for their deep well drilling on the prospect known as the Allain-Lebreton Well Number 2. Progress has been released weekly on this project.
Additionally, the Company is in discussions with a Joint Venture Partner to begin exploratory drilling on the Hazard Lake gold property in-order to prove up reserves.
Maintaining its narrow focus on the resource sector, the Company is working diligently in the due diligence phase with its strategic partner, Sterling Grant, on four additional Oil & Gas prospect candidates. The Company will release specific data on these candidates as it becomes available.
While global political turmoil continues to keep oil prices near $75 per barrel and some recent analysts' reports predict that oil could reach as high as $100 a barrel in the near future, the Company is moving forward in its efforts to acquiring additional growth and investment opportunities in this natural resource sector with the intent of providing the Company and its shareholders a much-improved increase in shareholder value. The Company is focused on increasing value by means on continuing acquisitions, development projects and exploration drilling through joint venture networks.
Safe Harbor Statement: This press release contains forward-looking statements as defined in The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan", "confident that", "believe", "scheduled", "expect", or "intend to", and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties, and actual results may differ materially from those expressed in any forward-looking statement. Such risks and uncertainties include, but are not limited to, the ability of Vinoble to complete the proposed acquisition(s), the results of Vinoble's due diligence review of the candidate(s), the success of the business of the acquisition candidate(s), including the ability of Vinoble to continue to sell the applicable products and the acceptance of those newly designed products by the market, market conditions, the general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's SEC reports and filings.
Contacts: Vinoble, Inc. Catherine Thompson Media & Investor Relations (310) 456-3199 (310) 456-1778 (FAX) ir*mrhi.net www.mrhi.net
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quote:Originally posted by worthashot: Madmoney, do you think this will affect the pps?
don`t know, current holders may have to wait a few days for the symbol change to hit thier accounts if that happens volume could drop shares might get tight price could go either way. look for more news in the am! watch for a gap up or down.
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