This is from a news release.
> Coconino Oil & Gas Gets Foothold in Huge Oklahoma Gas Field;
> Progress Reported on Conroe, TX prospect
> Coconino's interest in the well of $45,000 was paid for with a
> cash down payment, a bank loan arranged through First National Bank
> of Chaves County in Roswell, NM, and a small quantity of Rule
> 144-restricted common stock in CO&G's parent company."
First, I not sure if the headline is from CSMA, but it does seem like a bit of hype for a $45,000 investment.
Second, if they needed a loan for a $45,000 deal, I do not think that this is a good sign. |
