Repost: Followup on Pinnacle questions, Encal did drill the N.BC well...
First, you guys got the right Pinnacle (BB: symbol PSFD). Just a word of caution about the way PSFD trades. Even though there are 4 million shares in the float and they have 1000 + shareholders of record, it trades very, very thinly. The reason is there are a small number of money managers who have done a lot of due diligence and own a large portion of the float. Therefore, you see huge spreads, and big moves up and down on very little volume. Price moves are not a good indication of what is going on with the company, volume might be a better one to look at. But because of these dynamics, think of this stock as either a zero, or... (pick your own number on the other end.)
Second, regarding Richard's post 6321 on the Nickle's article:
1) Encal did drill the N. BC prospect. Just one problem. The structure was a long one and the SFD said that one end was good the other end was bad. The geologists at Encal had a theory on the type of geography that this structure was and their theory was the opposite of what the SFD showed. Geologists in general, I figure, must feel rather threatened by this device. Well, you guessed it. When push came to shove, Encal decided to test their geologist's theory and drill on the end the SFD told them NOT to drill. It came out exactly as the SFD predicted, DRY. I do not know when Encal plans on drilling the good end according to the SFD readings. My last conversation with the top execs as Encal confirmed all of this, but they did not have a drill schedule for the next phase. Encal's story is to be continued... maybe Shoal Point will get their butt in gear.
2) You mentioned the first generation device which was in a van and tested over Jumping Pond Rundle, etc. Read the form 10-12 application to NASDAQ and they include the report from Rod Morris, P. Geologist, who tested the device and wrote a long report. Very interesting. Mr. Morris drove 1000 miles and accumulated 27 hours of SFD recordings himself over a wide variety of known hydrocarbon accumulations in southern Alberta. (Only later did the SFD become coupled with GPS and put in an airplane.) He states in the report that: “These responses clearly demonstrate the effectiveness of the SFD to detect significant hydrocarbon accumulations.” He continues with: “It would be a tragic mistake to dismiss this technology simply because the industry does not understand it.” (I have met and talked with Rod Morris a couple of times and he seems normal to me.)
3) See my post # 6313 regarding the delay in NASDAQ. Unfortunately that is beyond Pinnacle's control. I think they are setting a new record in time to process a qualifying conpany's application.
Again, go to Pinnacle's web site and link at the bottom into the Form 10-12 www.pinnacleoil.com and read for yourself the Rod Morris report and the CamWest test I mention below.
Finally, Balisurf brought up stratigaphic structures. Of the 30-50 structures found now by the SFD that are predicted to be winners, all subsequently confirmed with 2D and 3D seismic, these are located in Alberta, Sasch., Montana, N. Dakota, and Wyoming. However, not included in their are numerous stratigraphic plays the SFD has located. Due to the difficulty of getting seismic on stratigraphic structures, the partners have shunted those down to the bottom of the list perferring to cherry pick what they feel to be the least risky to them at this point (least risky to the geologist having to make the call.) On stratigraphic detection, let me tantalize you with this: When the CamWest geologists took the SFD over 14 of their top secret plays in Montana and North Dakota that only CamWest could have known about, they flew the SFD over 8 STRATIGRAPHIC structures. Look in the form 10-12 or try and get ahold of CamWest (Denver), the SFD nailed all 8 as structures containing hydrocarbons.
Finally, Balisurf, no Russians here. Weren't the Russians doing stuff with radar? PSFD has a Canadian inventor. George tells me this has nothing to do with gravity or magnetism. No gyroscope. Something subatomic that no one has ever measured before is all I get. Read the form 10-12 to get thoroughly perplexed as to what the SFD could be. It really is interesting.
-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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