To csma thread;
just wanted to let you csma followers know , that I did a little investigation to find out about the validity of this company and the endeavors they are involved in, namely the class V injection well located in the Unitah basin.
Come to find out>>>> its all true and they did apply for a class V permit. I actually got through to the Environmental Scientist at the Utah Division of Water Quality that will approve the permit for Enviro-Tec. He took the time to explain to me the some of the logistics involved in the process for approval. This is the only well of its kind in the area he stated.
The long and short of it is ... Enviro-Tec owes the state of Utah some more calculations for the process involved. The actual well is between two aquifers, the bottom aquifer, he said does not seem to propose a problem due to the depth (10,000 feet) . The process of injection must be evaluated for the impact to the first aquifer. Basically what this means is, the material that will be injected into the earth must be quantified in a way on the impact to the first aquifer. Remember this well is currently in use for class II injection which are more toxic and are know testable's. Basically what the state needs to work out and control is the kind of wastes being injected and a quantification process of the waste elements. Once this is worked out it looks like a gooooooo!
The next bit of news on this subject is..... I asked the Environmental Scientist the quantities that will be allowed for injection and he stated between 210 gallons / min. To 400 gallons / min. Which works out to be :
210 gal / min. X 60min(1 hour) x 16hrs.(two shifts) = 201600 gallons per day x 48 cents / gal = $96768 / day x 260 work days per year = annual revenues of $ 25,159680 at slow speed. Crank up the pumps to 400gpm's and it works out to be $ 47,923,199. More pump revs mean more annual revs.! Note: 48 cents is based on a 42 gallon drum with a disposal rate of $20. These guys could make a killing at this at $10 per drum.
In all seriousness the Environmental Scientist did not allude to anything at this time that would deny them the 5 year permit ( renewable for up to 25 years ).
When I asked him of a time frame for qualification, he stated that there is a meeting with him, Enviro-Tec president Dave Allen and CMSA ceo H.K. Elrod on Nov. 13 to discuss the final approval which the Environmental Scientist hopes to have worked out by then, if the calcs are done.
This non bias source seems to be in line with the info being pumped out by CSMA over the wire, and remember these numbers above are only one aspect of what the company does!
Also called up the IR guy Mike Millis and he state that there will be an announcement of a new c.o.o. in the near future. He also stated that there are M3 people in Roswell New Mexico looking at oil properties, and the prospects look good. Could not coment on details. Also form 10 still on target for Dec. 1. And was very positive about the short term to hit $4 per share to make the Nasdaq.
The moral of the story is.. I took this investment very serious and I believe through my conversation with this Environmental Scientist and the SI page that things look good and I'm in for 35,000 shares long at .67.
I will call the Environmental Scientist on Nov. 14 to find out the out come. Invest long, die shorty. Good luck Neal
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