Thanks for posting Yiqun,
I called again this afternoon to clear up a couple of things. I thought they were getting a total of 6, but they have 2 currently, 2 coming, 6 on order and will be getting another 2 for a total of 12 systems. He said they should have shippment of them by the 2nd Q, but probably the 3rd Q for sure. The systems that they have currently can recover 4 to 5 barrels in 8 to 10 minutes. (He gave the approximate times for an operator to hook up the fittings, pump the oil, and disconnect the fittings) The old Klaeger systems took 24 minutes to recover the same amount. The maximum barrels that it can recover at a time is 5 bls. at 3,000 feet. The problems that they have had with the systems have been minor and they have had very little actual breakdowns.
They are in talks with the company that makes the systems, but he doesn't know at this time is the acquisition will include stocks or cash, or a combination of both.
They are working on their new web site and he said that they will have control of it in-house. The plans are to get it up by the middle of January and have weekly updates after that. It will be good for them to post the workings of the company to hold down the rumors.
Also, about the additional wells. He said that they didn't have a complete number when the last pr was released. He said when they started to rework them they got a more accurate number of wells. (He told me that they have something over 300, but not an exact number)
He offered me a tour if I could make it down there. I don't know about vacationing in Texas though.
Trading - It looks like some selling in the middle of the day, but it looks to have held the .4. Added some more and will if it breaks .4 and ride it up when more people hear about it, which I feel should be very soon. BTW about 3/4 of the stocks that I follow were down today, so it was not a good day for small caps.
If any of you have other questions, call Allen Burditt at (713) 629-5998. It would be good to hear from others and get others conversations. It would help all of us out.
Have a Merry Christmas (if I don't talk to anyone before then)
Eric
P.S. Didn't ask him about share dillution, but I don't like it either. More people should call and let them know that normal investors do not like dillution, because at least for the short term it pushes the stock price down. |
