Brixton Energy Corp PMBJF

RE: RE: RE: Dontask

[dontaskitsbigger]

Great thread by the way...thanks for your contributions; Jrock, erussel & wdr!

Well if there’s no money in the till…. Where’s he getting his money from? If he’s blowing his stock out at less than the issued price that sounds like the a source to me…also sounds like desperation and the end is of the road to me too.

@ Thehurricane

As far as the ability to execute let’s revisit the history of Pemberton/Brixton:

• Two wells drilled “huge gas kicks off the charts” = nothing put into production no revenue on both wells as a matter of FACT both wells were forcibly abandoned by the ERCB (which they owe money for)
• Multi stacked pay in the PRA = Nothing, no work, no production and no updates NOTHING
• Multiple drill locations in the PRA = Nothing, no work, no production and no updates NOTHING
• Disconnect the Panny well from the pipeline and produce to tanks to increase the amount of production (too much back pressure from other wells production is thought to be an issue) – Panny well disconnected and money spent on tanks = Same production numbers as before 5-10 barrels per day of which they own 25% whoopdeedoo!
• 3 for 1 Consolidation of the stock to get some traction in the market consolidation approved = Zero traction and  pretty much right back where we were before the consolidation thank the strategy of shares for debt mostly to management for this which coincidently was the same reason they got into the mess in the first place (note: they are still doing shares for debt)
• To entice people into a financing (this is where they got me) shares of a subsidiary ‘Clinch Energy’ were supposed to be given to shareholder to thank them for their support and as a make-up for the aforementioned Roll Back (3 for 1 Consolidation) = NOTHING
• Montney Pool said to contain up to $53,000,000 in net probable reserves = NOTHING no work done on the property and no production to date. Also failed to renegotiate surface and mineral rights.
• Viking play in Kindersly Sask “JV partners set to drill in July of 2010 = Nothing happened, no work, no drilling, no updates….not even sure if they have the mineral rights anymore on this
• Work to be done at the Panny site to increase production = Nothing done
• More land picked up adjacent to the Panny well, it was stated by management that there was a well bore there that they could bring on for some additional production = Again Nothing
• $50,000,000 term loan financing from US financial group available for future oil and gas projects = AGAIN NOTHING!!!

How's that Hurricane...is that 'the proof is in the pudding' enough for you?!?

Do you see the pattern here?!? I could care less about what they say they’re working on…their execution is some of the worst I’ve seen EVER!! I could go on and on…but really…do I need to?!? I think everyone gets my point.

 

All IMHO, DAIB