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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: y2kfree_radical who wrote (65237)	9/27/2000 5:48:29 PM
From: DADEPFAN	Read Replies (1) \| Respond to of 150070

ASRG - conference call with the CEO just ended (over an hour long!). Here is a brief summary from a poster on Raging Bull. There is supposed to be a PR in the morning.... Here is my summary of the call and questions asked, for what it is worth: [1] New investor package put together by Kevin O'Connor (speak to Cristina at office) [2] 864 wells as of 6/30/00, 1,257 today! 59 oil wells (net) 136 gas wells (net) [3] Q1 2 Mil in revenue (projected). Translates to .12 to .13 cents per share (projected over the year)! [4] 4 barrels per day to 2,200 barrels per day by end of year! (currently over 1,300 barrels per day) Questions: [Q] Will PR's be more forth coming with new acquisitions and drillings? -DG [A] Mr. Wheeler agrees that future PR's should be released when needed. [Q] 20 Mil in revenue & 15 Mil in cash flow covers what timeframe? [A] For our fiscal 4 quarters. (.11 per share cash flow, .13-.14 revenue for the calendar year based on 127 million S/O) [Q] Will there be a stock buyback? [A] Directors meeting on Monday to discuss this. The current value per share is approximately .90/share. [Q] Why was bank financing not disclosed earlier? [A] Bank-One changed there focus so that no loans would be given under 10 million. Local Oaklahoma is now getting their business. [Q] Will the buyback happen since the high float seems to be hurting the stock's share price? [A] We (Aspen) thought that increasing the barrels per day from 4 to over a 1,000 would drive the share price, but it has not. He does believe he needs to institute "a significant portion of the float". [Q] What is the status on AMEX or another senior exchange? [A] We have made an application to a senior exchange in Canada. They requested new reserve report/financials. A decision will be made as to which American senior exhange we should apply to. The Toronto exchange has a $1 minimum share price to be listed. On the American exchange we have a 36 month window to get relisted, which requires $2/share. [Q] Why was the 10K filed at the last minute? [A] We had to wait for the reserve report. That report came in on a Tuesday, the accounting firm finished on Wednesday, and it takes 4 days to "Edgar-ize" it. The 10Q is being worked on now and will be based on actuals for 2 months, and estimates for the 3rd month (based on a model) and should improve the release time by 2 weeks. [Q] Just for clarification, will the fiscal end-of-year be changed to the calendar end-of-year? [A] No, we will continue to receive a break for getting our reserve report done earlier so we will keep our June year end. [Q] Any idea when the Q1 will be released? [A] It will be filed before the 45 days expires. [Q] What is the possibility of doing a merger with a similar company with a much smaller float? [A] We have really been searching for those types of companies and Jack's goal is to have an agreement in place to do something like this within the next year. Whatever I can do to increase shareholders value, regardless of personal bias, I am willing to do. [Q] On the buyback, do you have any specifi percentage in mind (percentage of the float)? [A] We are going to evaluate based on what we feel we can realistically buyback. It needs to be evaluated.