Post by
TheLandedEagles on Feb 05, 2024 10:17am
Same OLD..Same OLD..PUMPING!!!! Damage Control!!!
Same old Sh**t....we have already seen these same big hype "promo" video's by CEO in the last 2 years.....Big, Big.. talk of potential huge revenues with these gas wells. They supposedly drilled these 6 successful gas producing wells and presently... we see little or no revenues being reported as they had been doing monthly. They announced major water issues and appears it now extends to all 6 producing gas wells. Can they really solve these issues and if they can, for how long, or do they find themselves in 4-5 months down the road that the entire SASB field is just NON-SUSTAINABLE for any net-cash flow production and the "fields reserves" are then determined to be worthless, as their predecessors determined..and subsequently, went bankrupt. Then, years later, Art Halleran came along to resurrect this field. This story is getting very old..2 years old now, and where CEO had said a year ago, field was SELF-FUNDED, and since then we saw 2 dilutive massive financing...massive Insider Selling last August...5-1 Share Consolidation...Executive debt/share conversions and No Revenues to speak of currently to this day that comes close to matching there continued rhetoric of great potential revenues to come very soon, which should have materialized 8 months ago like they proclaimed would be generated. CEO failed to mention the WARS on 2 fronts of Turkey and the affects it has in the area of the black sea. The company is basically desperate, on life support , doing damage control and prepping company for another round of financing...Thought Art did a very very poor job in the promo video, stuttered, and not that professional...and failed to reveal current revenues with these so-called producing wells and any potential investor, they will see it in the same way..and hope they do their proper DD, which Im sure they will and go back 2 years and review this companys past with all their broken promises.... today, currently.. "SHARE PRICE SAYS IT ALL, IN MY OPINION!!!"....This company has caused massive losses for retail shareholders and only hope others do not get caught in the FOMO of it with these PUMP Video PROMOs..Be Cautious..Just my opinion..seen it many many times in the past. Still have a few DUDS...showing on my investment accounts...Have them still there, after 25 years...so they can REMIND me of my past mistakes with these PENNY STOCKS... and the losses incurred..Stay Real and focused, do your DD and review this companys past records in the last 2 years...Good Luck!