THREE ISSUES WITH LFD!!!!!!!!!!Hello Everyone,
It is nice to see the sister company VST comeback to 30 cents.
In truth, no investor truly knows the logging reports of VST. The plunging price of VST and Niko would have correlated into a dry hole however, it could also be manipulation by the market, in essence steal your shares and then ride a soaring price. I have seen this happen on many stocks, mostly on biotech side. A good example was DNDN which plunged $ 15 in a matter of 30 seconds, only to bounce back up $ 15 when it re-opened. Exchange verified trades and said it was due to stop losses.
I believe same thing happened to LFD and VST. The stop losses are the most dangerous way in which to get burnt. People think they are safe, but instead are committing suicide.
I will give you an example. Say that people on LFD put stop losses at 39 cents, 38 cents, 32 cents, 30 cents.... and that stock was at 46 cents. All it takes is one huge trade to trigger an avalanche as stop losses become sell on the market orders. Here we call this manipulation or forcing the sale.
If you want to stay safe, remove that stop loss.
There are three issues that were bothering LFD to success:
a) Issue of financing for drilling: this has been solved with new PP
b) Issue of PSC contracts: this appears to have been solved between Kurds and Iraq
c) Issue of quantities of oil in place: to be determined
We have now successfully completed points a) and b) so there is less risk.
Good40 was vocal on point c). If you review his previous posts he confirmed that oil colums were too shallow and, that what he saw on his reports, the 5,000 barrels of oil per day was the initial logging, afterwards he confirms that barrels of oil dropped dramatically to nil or non-commerical. He continued with a mention that management was lying to investors by not divulging this fact.
I have seriously considered this allegation made by Good40. I have asked Good40 to show us this report so that we investors can benefit from his knowledge of these facts as he states it.
I made 7 requests to Good40 to produce this proof, he has ignored each one of my requests.
The accusation he made is a serious one. He has gone on record stating that management has purposely hidden information and, not compiled with the Exchange regulatory body.
One cannot make a false accusation of this sort. Either management is lying or, good40 is lying.
Either one would have to respond to the Justice authorities.
I am certainly going to make management aware of his serious accusation and I will foward proof of his emails as backup. Management will have good reason to seek counsel advice. Good40 can certainly be tracked down due to his computer ID. He is not a hidden character as he may believe.
As one last time good40, I ask of you, no, change that: I DEMAND that you submit proof of your accusations of breach of duties by management in failing to discloser material information to investors.
If you fail to provide such proof or, if you fail to respond, I will have no choice but to refer your case to the authorities.
Do we understand each other?
JMHO