AGM Today....Looking For News As I see it. This is my opinion only. Do your own due dilligence.
Insiders - People close to insiders - Friends - Family - and Investors with business interest with TBD:
I estimate the group above, potentially control 65 million plus, common shares.
The DB Holders over the last 3 years, have received, as 50% DB interest, approx. $2.4 M of common shares as payment. Assume they received these in a trading range of 0.10 to 0.30 cents, an average of 0.20 cents and when divided into the $ 2.4M, equals 12,000,000 shares all under water. If the average price was less than 0.20 cents then more than 12,000,000 shares would have been issued.
Almost everybody's shares are under water. Don't forget that the average is somewhere between 0.15 to 0.22 cents.
Only people who bought at 0.03 are making paper profits.
Okay, they own 65M common shares plus SND owns 18M shares...Total 83M.
106M shares issued and outstanding...23M tradeable, all under water.
Who are the idiots selling their shares under 9 cents? As I said before...
70M NAV trading at 0.15, plus
44M NAV should be trading at 0.095 plus
This is a low valuation because the gas price in Fiscal 2013 (Calendar 2012) was very low, below Nymex $2.00
As of right now, Fiscal 2014 (Calendar 2013), the price of gas will average Nymex $4.00 plus
Right now, the NAV is almost $80M = 0.75 cents per share.
Pretty soon everybody - The Insiders & friends, DB Holders, all will have something in common. Everybody will own Common Shares.
We will have a common interest in making sure the Common Shares go higher. Only a very few are making money under 0.11 cents - the smart ones, who are buying now. BUT in time, we should ALL be making money.
One other thing - TBD, in it's present form, has been going about 8 years. They survived the market depression of 2008 when the DOW went down from 14,500 to 6.600. Then they got hit by low gas prices, NYMEX under $2.00.
And, here they are, still drilling away. Yes, they fracked 6 of the 8 new wells, too low (my opinion), except for NE-5 and SW-7
NE-5 was completed, on average, 300' plus, higher than the other wells...now that they have cleaned the perfs, this well's production should increase. Probably, well SW-7 will be increasing production. This well was completed, second highest.
I told them to frac higher - out of the water - now they know for the next wells.
Those 'in the water' wells will be producing for 20 plus years.
But, they need lots of gas production NOW. They are a little more knowledgeable.
NEW MONEY - NEW DB - LOTS OF KNOWLEDGE..........
I'M STICKING WITH IT ... DO YOUR OWN DUE DILLIGENCE ... STILL HAS HUGE POTENTIAL!!