posted
Renbob, I want in but I'm waiting for a trade to clear. Hope it's not too late.
Posts: 2309 | From: Minnesota | Registered: Feb 2006
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posted
Posted by: BMiles In reply to: None Date:8/24/2006 3:39:33 PM Post #of 3069
MXXR DD #1 For Newcomers
MXXR 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 104,721,648. 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 / 104,721,648 shares outstanding = asset book value of 37 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 / 104,721,648 Shares Outstanding = .38 cents Book Value.
If they do hit recoverable oil, the book value of the stock should jump to 38 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 $.76 - $1.14 in a very short period of time. That would generate one heck of a return for a stock currently trading at 6 cents a share. Now I am not speculating the stock will ever trade to $1.14 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 MXXR, 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.
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.
MXXR DD #2 for Newcomers
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 14,200 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 MXXR as I have if they locate oil.
Not bad when you consider the stock is trading at 7 cents with only 104,721,648 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.
Best case scenario is we find the 11 million barrels of oil:
11 million barrels x $70 a barrel = $770,000,000
$770,000,000 x 5% interest = $38,500,000
$38,500,000 / 104,721,648 shares outstanding = asset book value of 37 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 / 104,721,648 Shares Outstanding = .38 cents Book Value.
If they do hit recoverable oil, the book value of the stock will jump to 38 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 $.76 - $1.14 in a very short period of time. That would generate one heck of a return for a stock currently trading at 6 cents a share. Now I am not speculating, nor do I believe the stock will ever trade to $1.14 but I have however proven it to be a real possibility if they do prove oil with the current drilling program.
This will be the second well for ORX Resources in this area, I seriously doubt they would drill another well that deep if they only expected to find natural gas again this time and not recoverable oil, especially when you consider the drilling to cost in excess of $5,000,000 and ORX Resources is putting up the majority of the cash from what I have found. This well is not a hoax or a phantom well that does not exit, I have even found licensing and permitting of this second well.
Either best case scenario or worst case scenario, I think I have proven without a doubt that the share price will move up with the results of the current drilling program taking place. I hope this has been helpful for those on the fence about investing in this stock.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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quote:Originally posted by J_U_ICE: Posted by: BMiles In reply to: None Date:8/24/2006 3:39:33 PM Post #of 3069
MXXR DD #1 For Newcomers
MXXR 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 104,721,648. 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 / 104,721,648 shares outstanding = asset book value of 37 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 / 104,721,648 Shares Outstanding = .38 cents Book Value.
If they do hit recoverable oil, the book value of the stock should jump to 38 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 $.76 - $1.14 in a very short period of time. That would generate one heck of a return for a stock currently trading at 6 cents a share. Now I am not speculating the stock will ever trade to $1.14 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 MXXR, 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.
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.
MXXR DD #2 for Newcomers
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 14,200 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 MXXR as I have if they locate oil.
Not bad when you consider the stock is trading at 7 cents with only 104,721,648 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.
Best case scenario is we find the 11 million barrels of oil:
11 million barrels x $70 a barrel = $770,000,000
$770,000,000 x 5% interest = $38,500,000
$38,500,000 / 104,721,648 shares outstanding = asset book value of 37 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 / 104,721,648 Shares Outstanding = .38 cents Book Value.
If they do hit recoverable oil, the book value of the stock will jump to 38 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 $.76 - $1.14 in a very short period of time. That would generate one heck of a return for a stock currently trading at 6 cents a share. Now I am not speculating, nor do I believe the stock will ever trade to $1.14 but I have however proven it to be a real possibility if they do prove oil with the current drilling program.
This will be the second well for ORX Resources in this area, I seriously doubt they would drill another well that deep if they only expected to find natural gas again this time and not recoverable oil, especially when you consider the drilling to cost in excess of $5,000,000 and ORX Resources is putting up the majority of the cash from what I have found. This well is not a hoax or a phantom well that does not exit, I have even found licensing and permitting of this second well.
Either best case scenario or worst case scenario, I think I have proven without a doubt that the share price will move up with the results of the current drilling program taking place. I hope this has been helpful for those on the fence about investing in this stock.
posted
on the front page at A_M_E_R_I_C_A_N_B_U_L_L_S
MXXR
MATRIXX RESOURCE HOLDINGS INC Daily Commentary
Our system posted a BUY CONFIRMED today. The previous SELL recommendation was issued on 08.29.2006 (10) days ago, when the stock price was 0.0580. Since then MXXR has fallen -39.48% .
BUY-IF is confirmed by a white candlestick with a higher open. The buying price is today's open ( 0.0330 ) according to the Rules of Confirmation.
Patience pays off. The market wavered a bit but finally confirmed the recent bullish formation. The dose of the previous day was not enough for a BUY-IF confirmation but today it is. The market opened with a gap up and the day’s activity resulted in a close higher than the open. This is a valid confirmation criterion. The market is now ready for a bullish move.
We hope that you bought this stock . You should watch the upward gap in the opening, wait a bit, feel the bullish tendency of the market making sure that prices stay over the opening price and then go long. Your benchmark was the opening price of the upward gap.
If you bought, continue to hold this stock until the confirmation of the next SELL-IF signal. You are on safe grounds as long as the future prices continue to trade above the benchmark price. What to do if you did not buy? Maybe, you did not have time to follow the session or you simply delegated the delicate job of confirmation to us. Well it is a bit late, but not too late. You may still find suitable prices for buying in the following sessions.
The market is currently cold for short-sellers. Avoid any short sales and cover the short positions immediately if there are any.
Data provided by: End of Day Data
BUY CONFIRMED
0.0351 +0.0031 +9.69%
Candlestick Analysis Today’s Candlestick Patterns: White Spinning Top
Matrixx to Participate in the Sandy Point Prospect
LOS ANGELES, CALIFORNIA -- (MARKET WIRE) -- 09/11/06 -- Matrixx Resource Holdings, Inc. (OTCBB: MXXR), announced today that it has agreed to acquire a minority working interest in an oil and gas prospect known as the Sandy Point Prospect located in Brazoria County, Texas.
The operator, Sunray Operating Company, LLC., plans to initiate drilling by the end of September 2006. The well will be drilled to the Frio formation at a depth of 6,700 feet, where the operator expects to gain approximately 20 feet of structure to an existing producing well known as the Fite No. 1.
Matrixx has agreed to concessions whereby reducing its ownership in the Buck Snag Prospect from 57.5% to 42.5% and its interest in the Manvel Prospect from 55% to approximately 45% in exchange for its participation in the Sand Point Prospect.
Further, the Company will file the required forms and exhibits with the SEC and sending notice to shareholders on a timely basis. Terms and conditions of the transaction will also be provided in the aforementioned notices. Closing is expected to occur no later than September 30, 2006.
Matrixx has remained steadfast in its efforts in acquiring growth and investment opportunities in the oil and gas sector with the intent of providing the Company and its shareholders a much-improved increase in shareholder value. Additionally, the Company is now positioned to aggressively exploit its properties to accelerate cash flow and to provide rapid returns on its investments in the oil and gas sector.
posted
I like what I see here, im in for only 25k shares at .036, I feel as if im in a good position. We'll see as the days go by.
Posts: 60 | From: bergen county NJ | Registered: Jan 2006
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Company Notes: Formerly=Early California Industries, Inc to 10-85 Note=9-98 company filed petition under Chapter XI of the Federal Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas, Corpus Christi Division. Court confirmed Joint Plan of Reorganization, effective 8-20-99. Company emerged from bankruptcy with no ongoing operations, no assets & all liabilities discharged Formerly=ERLY Industries, Inc. until 5-01 Formerly=Torchmail Communications, Inc. until 12-02 Formerly=Ohana Enterprises, Inc. until 11-04 Formerly=Vinoble, Inc. until 7-06
Class Notes: Capital Change=shs decreased by 1 for 100 split. Pay date=05/24/2001. Latest Addt'l Issue=12-78 200,000 shs in units (10 shs Com & $1,000 Sub Deb 12 1/2s 12-1-93) at $1,000 per unit by Wedbush, Noble, Cooke, Inc. et al. Capital Change=shs increased by 5 for 1 split. Ex-date=3-18-02. Rec date=3-15-02. Pay date=3-18-02
-------------------- To reach hill top start from the top Posts: 461 | Registered: Jul 2006
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quote:Originally posted by jos_tul: Remember folks...
Company Notes: Formerly=Early California Industries, Inc to 10-85 Note=9-98 company filed petition under Chapter XI of the Federal Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas, Corpus Christi Division. Court confirmed Joint Plan of Reorganization, effective 8-20-99. Company emerged from bankruptcy with no ongoing operations, no assets & all liabilities discharged Formerly=ERLY Industries, Inc. until 5-01 Formerly=Torchmail Communications, Inc. until 12-02 Formerly=Ohana Enterprises, Inc. until 11-04 Formerly=Vinoble, Inc. until 7-06
Class Notes: Capital Change=shs decreased by 1 for 100 split. Pay date=05/24/2001. Latest Addt'l Issue=12-78 200,000 shs in units (10 shs Com & $1,000 Sub Deb 12 1/2s 12-1-93) at $1,000 per unit by Wedbush, Noble, Cooke, Inc. et al. Capital Change=shs increased by 5 for 1 split. Ex-date=3-18-02. Rec date=3-15-02. Pay date=3-18-02
Hey tool, New management right now. Different company. Did you read the updated DD on top by J_U_ICE?
posted
Have'nt had a chance to really look at this thing,but...
"Catherine Thompson is the CFO / CEO of MXXR, 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. "
The PRs say Catherine Thompson of Catherine Thompson Media and Investor Releations.
-------------------- It takes a lot of attaboys to make up for an aww chit Posts: 483 | From: OK | Registered: Aug 2005
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posted
renrob05....at least one other person watching here.and keeping the faith...GLTY
-------------------- "No nation was ever ruined by trade." Benjamin Franklin Posts: 533 | From: Dooville, Indiana | Registered: Jul 2006
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quote:Originally posted by OILDOG: " below I have outlined her trading pattern and dates "
you have forgot to post it :-) I heard she bought a lot of shares and didnt even sell one. thats great. i am in too...
Posts: 287 | From: prague | Registered: Jan 2006
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posted
Im in it, only a small position though - may pick up more by the end of today depending on how I feel. Whats your sell point rob?
Posts: 60 | From: bergen county NJ | Registered: Jan 2006
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posted
Same here TMAN, all we can hope for is a nice bounce ; not looking great but theres def. a chance.
Posts: 60 | From: bergen county NJ | Registered: Jan 2006
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