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Maxcom Telecomunicaciones S.A.B. de C.V. Message Board

  • investorgold2002 investorgold2002 Mar 5, 2004 7:55 PM Flag

    TMXN is a fraud - read this from street

    In the case of Transmeridian, the report written by Dirks and approved by his wife Jessy set a one-year price target of $3 on the stock. At the time, shares of Transmeridian, an oil and gas concern, were selling for about 50 cents.

    Yet Dirks foresaw great things for the tiny company. He predicted that revenue would soar from $5 million in 2002 to $200 million in 2004. Dirks left out that the company's auditors had expressed reservations about Transmeridian's ability to continue as a going concern.

    Today, DataLogic, Carnegie Cook and Thane all trade for well under $1. Transmeridian trades for about $1.50, but its 2003 revenue will come in well under $250,000 and the company was on a pace to lose about $5 million. The company's auditors still have doubts about the company's viability.

    Dirks refused to discuss the NASD action. Reached at his office at Sky Capital, he hung up the phone several times when questioned about the pending disciplinary proceeding.

    Touting small stocks is nothing new for Dirks.

    In the fall of 2001

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    • That is the highest compliment anyone has ever given me on that boards. Thank You for the comparison, however there is only one Market_Caster, and I am not he.

    • hey stop comparing TMXN with HLSH to restore some sanity to this discussion. HLSH was real company with real revenues(we all know accounting fraud was also real too.)
      TMXN has close to zero revenues(yeah right it is a development stage company) it has proven reserves of 16 million barrels and has market cap>100 million. is this fraud or what?

      TMXN is hugely speculative and could be fraudulent. HLSH is a fortune 500 company that was under bad circumstances 2003 due to the accounting fraud and could have filed for bk. but they did not and the stock recovered.

    • How do you figure TMXN will owe $9 million in interest payment in 2004 ?

      " There are no required payments of interest or principal during the first 24 months of the term "

      June 30, 2003

      HOUSTON � Transmeridian Exploration, Inc. (OTCBB: TMXN) announced today that it has secured a $30 million line of credit from Turan Alem Bank for the development of its South Alibek Field in Kazakhstan. The funds will be used for its ongoing development project, which includes an initial seven well drilling program, installation of a central production facility, construction of a 70 kilometer pipeline to the Emba Rail terminal and refurbishment of the terminal to handle crude oil sales from the Field.

      The line of credit has a 36 month term with a 15% interest rate. There are no required payments of interest or principal during the first 24 months of the term. This financing is the first of two requirements for KSP, a Kazakhstan investment group, to acquire a 50% interest from TMXN in the South Alibek Field. The second element will be the retirement of $15 million of the original $20 million debt facility with Turan Alem Bank, which is expected to be completed in the near future. Upon closing of this transaction, KSP will hold a 50% equity interest in Caspi Neft TME, the Company�s operating subsidiary which owns title to the South Alibek Field.

      Commenting on the additional financing from Turan Alem Bank, Lorrie Olivier, Chairman and CEO of TMXN said, �This is a significant milestone in the development of the South Alibek Field. This financing will allow us to accelerate our drilling and development operations in the Field. Our goal is to achieve sufficient cash flow from the Field to fund future development operations and service our debt on the earliest possible timeframe.�


      � Testing of the recently-completed SA-1 well will continue in early July with 2 new intervals targeted for evaluation. The Company expects the well to be placed on long term production testing in mid-July.

      � Rig 232 is preparing to commence drilling operations on SA-2 early in July.

      � We have negotiated a five-well turn-key contract with The Great Wall Drilling Company at a cost of $2.9 million per well. Great Wall Drilling Company will mobilize a 2000 hp electric rig for the contract.

      � With two rigs drilling and one completion rig, the Company expects to have three wells completed by the end of the year and continuous drilling operations through 2004.

      About Transmeridian Exploration, Inc.

      Transmeridian Exploration, Inc. (TMXN) is an independent energy company established to acquire and develop oil reserves in the Caspian Sea region of the former Soviet Union. TMXN primarily targets medium-sized fields with proved or probable reserves and significant upside reserve potential. Its first major project is the South Alibek Field in Kazakhstan. As of December 31, 2002, the Company�s proved reserves in the Field were 17.1 million barrels, with an estimated net present value of $144 million. Ultimate potential of the field is estimated by Ryder Scott Company to be 378 million barrels of oil.

    • That is rich, coming from a guy who had a STRONG SELL on HLSH on June 22, when the stock was trading at .45 cents. I can see why you are quick to call people other names.

      I used HLSH as an example that even you might remember. You do remember these brilliant statements of yours about HLSH future, just before the big shareholders meeting when the stock ran from 90 cents to over 2.10 cents in one hour.

      Why just days before the big run you were trying to save everyone from the BK that HLSH was going to file because of the detailed DD you had done. .45 cents on June 22 today its at 4.50 cents. HUMMMM

      Goldie, why do you have a track record of STRONG SELLS on stocks that you are about to fall in love with?

      In this last one you say HLSH is a 100% risk and 0% reward. Damn, I would just hang my head and walk away after blowing the biggest bang in modern market history. You realize that if anyone followed your suggestions, they missed out of an honest 10 bagger in less then a year. In fact from where it was trading when you made this statement, to its high in January... anyone who would have listened to your advice would have left about 1500% on the table.

      The reality is no one who listened to you was helped. You bashed the stock until just before the meeting. A full flip flop from the vast majority of your posts at the site. The flip flop also happened out of the blue with no announcement why you had changed your story.

      With record like that, could you please tell me of some other stocks you have STRONG SELL on, as you appear to be the perfect market contrarian indicator.

      Yak Man

    • you are looking real cheap and stupid....when you are comparing healthsouth with tmxn.

    • i am not a short nor i am or will be a long.
      you guys still did not answer how they will come up with $9 million of interest payment of 2004 + expenses related to their 'operations'.

      80-100 million barrels. where did you come with figure?
      even if that is true, which i highly highly suspect, only 50% is owned by this company.

    • sorry there is a huge difference. to list and continue to be listed in NYSE there are minimum requirements like revenues of atleast $50 million for x number of years, etc etc.

    • LOL Who cares what you believe! you are a asshole! Why Caster is wasting his time on you is beyond me. He put his money where his mouth is,that in itself should speak volumes.
      Like the other poster said you must have some kind of agenda! sit on the sidelines while the investors with guts make the money Foolsgold.

      The Kid

    • OT: TMXN
      Turan Alem Bank loan to TMEI
      The loan is $30 million dollar line of credit has a 36 month term with a 15% interest rate. There are no required payments of interest or principal during the first 24 months of the term.

      Do your DD before you bash, all cashflow will go back into the field until June of 2005

      By that time this $30 million could be Lunch money for the workers.

      7 Wells to be drilled with this loan.

      Lets say each well nets 1000 bbls that would be 500 bbls net back to TMXN

      7 X 500 = 3500 X $16 Net pipeline price and you get $56,000 net each day. Interest will be about $12,000 a day when line is Maxed.

      You seem to be the Fraud.

      Nice try!!!

    • Goldlie,

      Per the PR released in January...

      ``This transaction greatly improves our financial position and allows us to satisfy the $2.9 million payment due to Turan Alem Bank. This payment, which relates to certain funds advanced to Transmeridian in 2001 during the pre-development stage of the project, is an important step to maintain our good relationship with the bank. We are very fortunate to have a group of investors who know the Company and understand our potential. When the need for additional equity arose, we were able to draw on this strong base of support. This capital will benefit the Company at a time of great opportunity. We have momentum in our drilling program and expect to achieve significant results in 2004.''

      Randall D. Keys, Chief Financial Officer of the Company, added, ``In our earlier private placement in October, we raised $1.0 million when the stock was trading at a significantly lower price. In this placement, only 90 days later, we were able to raise significantly more capital at a much better price per share. We are very pleased that both these offerings were done without warrants or other additional dilution to our shareholders.''

      Operational Update

      The Company currently has Schlumberger wireline and coiled tubing equipment on location in the South Alibek Field. The first operation, which is expected to take approximately one week, is to perforate and acid stimulate additional reservoir zones in the SA-1 well. The Company has been producing this well on a test basis with varying choke sizes since performing an acid stimulation in mid-September of last year. The equipment will then be rigged up to begin completion operations on the SA-4 well which reached total depth and was logged in late December. The remaining well, the SA-2, has reached its total depth of 13,800 feet. Based on the indications of hydrocarbon in several intervals during the drilling of the KTII sections, the company will log and run production casing to begin the testing of the well.

      So, there is $2.9 million needed to make the payments you are talking about. If you include the first round of financing, the company raised $3.9 million dollars in the last quarter or so.

      I hate to break this to you, but the company is not showing signs of lack of access to capital. They have done two private placements a couple of months ago, and since that time, they have finished two more wells.

      It looks they have made it around the hard corner. It almost reminds me of HLSH. The stock was trading under a dollar back in July when Management held a shareholders update. By the time management quit talking, The stock price was up over 110%.

      When RS releases their info, if it�s in line with what we have discussed today, there is a good chance of a significant spike in the price. Where it ends that day no one knows. However, I would rather be long the stock then to be short it.

      Think of it this way. If Rider Scott comes back with a 3X+ increase, that would put proven reserves at 80-100 million barrels. Or about 10X the current amount that GUSH and TGA have combined.

      TGA and GUSH have a combined market cap of about 250 million dollars for their 9 million barrels of proven reserves. how much is TMXN worth if it has proven reserves of 80 - 100 million with only 78 million total shares?

      by the way, Rider Scott has never said they had $1 billion dollars worth of value. I am the person saying that I value that oil in the ground at 10 dollars per barrel for my own personal calculations of the underlying value of the oil.

      Rider Scott gave it a present value discount at a 10% rate of $7.3 dollars per barrel. That was in 01 when crude was at significantly lower prices. Today 10 value per barrel is undervaluing the actual oil net true value in my own opinion.

      Yak Man

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