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Revision History For: DEREK RESOURCES (DRS,V) - HUGE PROVEN OIL RESOURCE

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Return to DEREK RESOURCES (DRS,V) - HUGE PROVEN OIL RESOURCE
 
I just got a fax from Derek Resources stating:

- they have up to 150 million barrels of oil
- they can get it out of the ground for approx. $6.00 US per barrel
- 66% recovery rate
- sell the oil for WTI less $0.48 (a profit of $6 or $7 per barrel)

I went to the VSE web-site and found:

- less than 5 million shares outstanding
- trading a less than $.60 per share

When I do the math, this sounds too good to be true. Does anybody else follow this company? Am I missing something here?

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