Pinnacle Oil International - PSFD (SFD Technology) Message Board

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Technology Stocks : Pinnacle Oil International - PSFD (SFD Technology)

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To: raisinkane who wrote (48)	6/17/1999 4:08:00 PM
From: Dilution	Read Replies (1) of 51

There WERE going to be two prospects that should have been done this month. WERE being the key word. One of them disappeared from the radar screen when the lease operator and one of Pinnacle's partners started calling each other names and <poof>... phones went dead. At least that is what it sounds like happened to me. It was the lowest one on the priority screen so I think it was considered no big loss by the partner. The other one has been delayed by... I don't know how long, because the lease operator got greedy and put the property back up for bid to see if they could get some higher prices now that gas futures have done well recently. Geeeezzzz! However, there are other projects in various stages. Land has been purchased. Instead of wild ass guessing from previous management who did not have the oil and gas experience needed to understand what it takes to get a prospect from the drawing board to acquisition to drilling, new management has the experience and I think their time estimates will be a lot more credible. The current thinking is sometime in the third quarter, with late August/September having higher confidence levels. Some of the partners could drill tomorrow on land they own if they wanted to, but then they would never be able to get the adjoining properties. You know how the game works. Unfortunately Pinnacle does not control the situation. Pinnacle shows the partners where the prospects are and then the partners take it from there. So, I wait... annoyed, frustrated, but confident. No question its a structure finder, now if the partners would just work in investor timeframe instead of oil industry timeframe so everyone will see just how good this technology is when several of the prospects are drilled. I think all of the major holders of the stock understand the situation and are also patiently waiting the payoff and that is why the stock is staying at its zero to 1,000 shares a day volume which is odd for a company with 4 million in the float. Tells you the stock is locked away. Dilution

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