Repost: Zeev, Pinnacle's SFD technology no comparison to NAMX
There are some major differences with Pinnacle's SFD compared to the NAMX.
1) PSFD has three reputable partners who have spent 1-2 years each trying to disprove the technology and could not. Instead, they are embracing the technology. These partners are Renaissance Energy, Encal, and CamWest. (I assume you have heard of Encal and Renaissance. CamWest, by the way, is a U.S. company controlled by the Stephens Group. The Stephens Group is Jack Stephens company of the large Stephens Investment banking firm in Little Rock -- IPO of Walmart, etc. Well, the Stephens Group also happens to be the third largest producer of natural gas in the United States. They have 30 plus years experience in the oil and gas exploration industry. Once CamWest tested the device, they not only signed a huge contract with Pinnacle giving Pinnacle an 8% gross override or a 45% working interest on whatever Pinnacle finds in a 1 million square mile territory in the U.S. and 1 million sq. miles overseas, BUT they also got two board seats, and bought 1 million shares to become the third largest shareholders in the company. These people are not stupid.) In fact, none of the partners are stupid. Think about the amount of testing they have done over the past two years. It would seem rather simple to prove or disprove the device pretty quickly. Well, the fact is the partners are still there after 2 years. NAMX, by comparison, has no third parties using and vouching for the device's wonderful success rate (to the best of my knowledge.)
2) There have been audited drilling results on wells drilled by the partners conducted by Gilbert, Lautsen, Jung in Canada. A first class engineering firm. No NAMX audit.
3) The success rate to date on NAMX has been a big fat zero with third parties (again to the best of my knowledge.) PSFD, on the other hand, is batting damn close to 100% on nearly 50 (FIFTY) structures that the SFD located and the partners subsequently shot 2D and 3D seismic over. (This is just in the commercial exploration phase undertaken over the past few months. There were hundreds and hundreds of confirmations over known structures during the past several years of testing.) In my mind, there is little doubt left the SFD finds structure. Just call the VP of Exploration for Encal, Renaissance, and CamWest as I have done many times. The only question left for the SFD is can it detect the hydrocarbon content. Here the three companies tell me it has successfully passed all of their two years of testing with an 85% plus success rate. Shoal Point will be the first commercial exploration drill results that pay money into Pinnacle's coffers. CamWest and Renaissance will be following up with many more holes in the following months.
First, read the 10-K. Then make three phone calls and see what the partners tell you. I have contacted dozens of people over the past couple of years in person and on the phone. Then sit down and think throught the implications on Pinnacle and Canadian companies who will never get an SFD license. No one should believe this technology works. However, I have three reputable exploration companies, not including Pinnacle that tell me it does. Why would these other companies lie? Why would they perpetuate a lie for 2 years?
Let me leave you with part of an article that I found back in April of 1998 shortly after the Stephens people had the geologists at CamWest test the device themselves. This is from the obscure Arkansas Business newspaper on April 20, 1998. They wrote:
“CamWest did a test and basically did everything it could to prove it wrong,” says one source familiar with the experiments. “As I understand it, they went in, eyes wide open. And they felt like it works. It worked out on their tests and they ruled out a lot of things.” CamWest had two representatives, a geophysicist and a geologist, who did not believe the detector would work and designed a test for the machine. “They went 180 degrees after the test was done,” the source said.
By the way, the source was not me. Ha Ha. I am merely an investor that owns stock in a company that long term could significantly impact on the downside a lot of oil and gas companies in Canada. I believe those are the ones this group follows. Watch PSFD and watch out.
-Dilution
Disclaimer: Consider everything I write to be biased and potentially wrong. The information contained herein is based upon sources believed to be reliable but is neither all inclusive or guaranteed. This is not a report and does not purport to be a complete statement of all data relevant an investment decision in any security mentioned. Certain opinions reflect my judgement at this time and are subject to change without notice. This document is not deemed to be a solicitation to buy or sell any securities, instead consider it to be for entertainment purposes only. I may from time to time have either a long or short position in any security mentioned and will not update my postition.
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