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Microcap & Penny Stocks : VLVT (was CSMA)
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To: WAYNEW who wrote (8014)7/17/1998 3:31:00 PM
From: Joe Dreamer  Read Replies (2) of 11708
 
I talked to Mike Millis so I figured I would pass along the information. If this is old news I apologize but I have not read the thread for a few days. I asked him about the delay with the well and how much longer can we expect the delay to continue. He said that they are still waiting for a rig to come in to plug up the hole. It was suppose to happen 3 weeks ago but the rig never showed up so they are looking for another one. However he said that is not easy to do because there are not many around anymore. He had no idea how much longer it will take. Once the rig shows up it will take only 2 days to do its thing but then we need some type of approval before the dumping can begin. He could not give me a time frame, however offhandedly I said we will be waiting another few months and he quickly said it will not be that long.

I also asked about the merger because I wanted to make sure there would be no reverse of shares to inflate the price. He said it will be a one to one swap. I made him reiterate that again to me and he did.

Financials for Fiscal 1998 will be out with our shareholder packet in beginning of August. Do not expect anything exciting.

I was concerned with LPS being out and what effect it has on the M3 Research report estimates since they were heavily weighed towards LPS earnings. He felt that since LPS had only a est. 40% profit margin (my words, he said something like only 40% getting to the bottom line) and EnvironTech has more like a 90% profit margin when it is fully functionally that it will make up for those numbers. Because when M3 did report they underestimated EnvironTech because the well was yet to be approved. And all EnvironTech has to do is double their estimate and we will be back at the original estimated numbers.

My take is that all this is blah,blah blah... until we get some juices flowing in that well. Until then we will either have to be patient or take our tax breaks (which I will not decide to do until Nov/Dec). So like many of you I am long by neccessity rather than choice.

Later,
Joe Dreamer
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