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Microcap & Penny Stocks : VLVT (was CSMA) -- Ignore unavailable to you. Want to Upgrade?

To: KZAP who wrote (9889)	10/15/1998 10:26:00 PM
From: Mr. Sparky	Read Replies (2) \| Respond to of 11708

I have stayed out of this childish squabble, but feel that, a response is necessary at this time. I sold the Conroe, Texas property as represented in the sales contract. The leases are attached, and it is very plain and simple that they purchased the properties as set out in the sales contract. No where in the contract is there any reference to the EPA, an EPA cleanup escrow, or anything referring to cleanup, escrow funds, EPA, or any other such agency. Coconino bought the property, went to Conroe, did not abide by the agreement as set out in the sales contract, ran the leases out, did shoddy work, and never paid me one thin dime or share of stock. HK Elrod and Derry Moore then came to Dallas and wanted to borrow some money to continue working in Conroe, as they had run out of money that they had raised by selling stock that was owned by Dan Jackson, one of their attornies, at are large discount to the market. HK Elrod told me before our meeting in Dallas that he would be delivering the stock that he owed me for the purchase of the Conroe properties, at that meeting. He, of course did not have any stock with him and actually wanted me to loan him the money to complete the project that he had bought from me and not paid for. I told him that when he paid me what he owed me, that we could talk about a loan, but that until that time I was not in a position to be his banker when he obviously was giving me the run around and had not done what he said he would do from day one. I had bought put $250,000 dollars into the company in the fall of 1997 and all of that money was gone as was the money raised by Dan Jackson selling stock. KZAP has copies of all of my paperwork and can back me up on my side of the story. All of this, including the LPS transaction are the reason for the spin-offs but we are sueing Cononino SMA, ADHatters, Envirotech, Coconino Oil and Gas, HK Elrod, Mike Millis, and Derry Moore. My Lawsuit is a slamdunk to say the very least. They signed the papers, went to Conroe, did some work, ran out of money, and then decided to just walk away. I was at Mr. Elrods home over spring break and Derry Moore was faxing drilling reports in from the field that were very promising, but at that time HK told me that they were running out of money. Part of the contract required that a NEW well be drilled by March 1, 1998. This deadline was not met, and instead of a new well they re-entered a 45 year old well bore that had no cement behind pipe and attempted a squeeze. They were well aware that this method had a very small chance of success because there was no cement behind pipe above appx 4500' and the attempted squeeze was around 3800'. That was the reason that I had that put in the contract. Of course they had virtually nothing to lose because they had not paid me and the money came from the sale of paper, and as everyone has seen, this is the way that Mr. Elrod does business. If anyone would like to see the sales contract with the attachments, please feel free to PM me and I will fax them to you. I know that I have left some things out, so please feel free to contact me with any questions or comments that you may have. Sincerely, Mike Pickens