Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Westfort Energy Ltd. (WT-T) -- Ignore unavailable to you. Want to Upgrade?

To: bhg who wrote (631)	6/24/1998 11:52:00 AM
From: Mark drummond	Read Replies (1) \| Respond to of 1288

Thank you for your post still holding on to my shares. hope it is a winner. Mark!

To: bhg who wrote (631)	6/24/1998 11:43:00 PM
From: M. Merriam	Respond to of 1288

I'm just doing this because someone should. I've been to the sight with one of Shells' top geologists His name, please. I also know of two venture capital firms interested in putting money into WT. Names, please. (An aside: if WT is such an obviously sure thing, why are they just interested? Why haven't they already invested? Do they still have unanswered questions, nagging doubts, or just less cash than enthusiasm?) They are going to have to buy the stock in the open market because WT isn't in need of any cash. That's strange. Then why is WT paying a PR firm to pump the stock? What reason, other than preparing the market for an equity issue, does a company have for spending money on PR? But you say they won't need to issue more shares... Could it be possible that WT is a promotional play no different than hundreds of other penny stocks, and the PR firm is used to help the promoter and insiders dump stock at inflated prices? Can't be--that would be too much of a stretch. We all know (or those of us who accept your analysis) that WT is almost automatically going to US$57 as soon as the drill gets to depth, so again I ask, why are they spending money on PR? Someone asked how much it costs for them to pull the oil out of the ground. It is less then US$2 while it costs the majors US$6-8. Oh, I suppose I was forgetting how cost effective it will be when they have to "use a dilution string to inject fresh water into the production stream in order to keep the salt dissolved, then separate the oil and salt water at the surface, and inject the salt water back into the earth in a disposal well while collecting the oil for sale" (assuming they ever get to that stage). 35mm shares fully diluted. ~1/3 insiders, who by the way are not selling Insiders are not selling??? Where did you hear this? That conflicts with what's reportedly in the OSC insider bulletin: Message 4861163 Maybe your source is more reliable than the OSC bulletin. Or maybe your talking about over the past six days, instead of over the past six months. 1/3 in "solid hands" meaning they are not sellers yet Oh, right, I guess you mean they are hoping the PR/hype can get the stock back over $3, and then they'll sell. When the venture capital people start buying in the open market, possibly within the next few days, any shorts will be squeezed. Wow, you mean the less than 100,000 shares that are short (according to last Sat.'s Globe) out of over 30 million outstanding--that's a titanic three tenths of one percent--might get squeezed? Thanks for the insight. That should drive up the price in a huge way when they try to cover in a panic. I hope this is helpful to someone. bhg Thanks and welcome to SI. I see your first and only two posts are to this forum. Member 4720345 Your comments would be more helpful if you posted your real name and contact information and your relationship with WT. Mike