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Gold/Mining/Energy : Canadian Oil & Gas Companies -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (6319)	4/25/1999 12:55:00 AM
From: Dilution	Read Replies (2) \| Respond to of 24915

The numbers on Pinnacle Oil scare the hell out of me! I actually heard this story years ago and I thought it was so stupid I was going to short the stock. When I met management in the course of my due diligence I expected some sleazy people to go along with this "obvious" scam, but they weren't. However, like you said, "if it's too good to be true..." so I bought a thousand shares as a joke to teach myself a lesson. I figured the old adage was probably true here. Then things happened and the next thing you know Encal and the old Pinnacle Resources (eventually bought by Renaissance last summer) started to test the device after having it pointed out to them by a geologist who had independently tested it. Interested, but nowhere convinced, I kept tabs with the management at Encal and Pinnacle Resources, as well as at Pinnacle Oil. Then Renaissance entered the picture. I had a hard time getting to those guys, but I eventually succeeded in a face to face meeting. All these guys kept telling me this looked "interesting." Then after a long time, Encal signed a three year contract paying Pinnacle 8% g.o.r. or 40% working interest and that is when I knew something was definitely up. No one would sign a contract like that with a black box if they were not placing some big reputation bets it was for real. They would be laughing stocks if it was a fraud. I have made several trips now up to Canada to visit all of these companies, independent physicists these companies have in turn hired, etc. etc. Now two years have gone by with constant testing by these three partners. Hundreds and hundreds of fly-bys over known fields, flights over top secret things Pinnacle could have never known about, 12-16 wells drilled in the testing period by the partners and audited by Gilbert Lautsen Jung, and now the commercial wildcat phase that has so far produced somewhere between 30-50 SFD located structures that have SUBSEQUENTLY been confirmed by the partners with 2D and 3D seismic. No one should believe this story. Don't buy the stock now, but keep a very close eye on it. The endgame could be in sight. Shoal Point soon, a Nasdaq listing eventually (???), multiple more prospects from the other partners this summer. There are a lot of eyeballs on the stock from people who say they are going to wait and see the drill results. I say good luck to all. Hell yes the numbers scare me. But the numbers scare everyone who even hears about Pinnacle. These are professionals in the investing game and they run like hell from the story without even taking one minute out of their oh so busy days <sarcasm intended> to make a phone call to one of the partners or read the form 10-12 or ask me some more questions about the work I have done. But I realize these guys never want to stick their ass on the line for anything. I don't blame them, especially on something as crazy as the SFD. Why take a chance on losing a client? You will never lose a client by NOT owning PSFD. However, those on this thread will be able to kick these money managers' lazy behinds by getting on the PSFD bandwagon early by following it closely over the next, call it ten weeks. I bet there will be a slight delay in the major move that could come when Wall Street hears the SFD tale. Those who wait until the proof may pay a bit more from today, may pay less, but you will be able to own it with less risk than buying it today. That is what I would do if I were you. Just watch it close. The SFD has major implications not just for Pinnacle, Encal, Renaissance, CamWest, but a lot of other companies are going to head down over time while they go up IMO. The SFD is a competition killer, especially with the unusual dynamics up in Canada. I have a list of those money managers who I have told about this story who should have known enough to at least check out what I told them. They should expect a letter from me sometime this summer. I intend to laugh first, last, and loudest. -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 position.