O.K. I know upfront that this will garner a whole lot of hate mail because the one thing I have learned on this board is that blind faith is accepted but critique is not.
Do a Google search on George, our illustrious leader. You will discover that he graduated from Notre Dame a mere 7 years ago. He has run for office in Canada several times unsucessfully. He is an economics/accounting guru who has been on several boards and with several companies. I readily agree it is an impressive resume...for a mid level corporate CFO. Ask yourself one critcal question...how does a young guy like George instantly become a multi-millionaire with one company? And remember, he is a millionaire with a company that has never produced a dime of revenue. He wouldn't dare mislead us...wait, he IS a politician.
And remember, George may not reside in Canada by accident. Canada does not have an extradition treaty with the USA for white collar, non-violent crimes.
Now I know you will label me an evil paid basher. "There are none so blind as those who will not see". I will gladly forward a copy of my long positon of 25,000 shares in SCEY from just yesterday.
I really had hoped this was that needle in a haystack that so often eludes the small investor.
Please respond intellectually not just emotionally.
All I know... is that this stock just sat around day after day - with no movment but slow down for months until the message board was created in Yahoo... then BAM - specualtion, roller coaster days ... reports, no reports...George picked his nose today. If this company starts to show revenue - dare I say profits, its still a good long. Forget the SHL report... I want to see "black" no ( ) 4th & 1st Qtr reports before I make my decision. I've been in the stock long since it was $1.25 (the first time around)
Welcome to party everyone.
we are not investing in George's resume --- we are gambling on the company assets (primarily on the 100% of 6,000 acres in the proven producing Jonah field). one must always access the risk/reward aspect of such a gamble. i like the odds in any stock which goes up 400% in a week purely on the speculation of an upcoming report. also, i don't believe that a company like SLB would risk sullying it's reputation by dealing with a con job organization --- they certainly don't need the work.
Excellent post! Here is the deal you are correct in your statement "they certainly don't need the work" regarding SLB. They do however need the gas and maybe ,just maybe they buy out the Jonah property. Pure speculation on my part, but they certainly would not be involved in a con job. I think the fact SunCal hired SLB to do the report shows integrity and a need to know exactly what they have and how they go about getting it. I still say we move back into last years highs by summer! If it goes lower I may buy some more!
You know, you people ask these questions like you're helpless or something. If you read the filings, George acquired 38% of the company in 2006 for $250,000.
If you want to risk $250,000 of your money on a startup company and raise the capital and manage it, go for it. I'm not counting the $903,900 he pumped into the company on 3/23/07.
He's already proven his worth in my book. Look at all the opportunities he's got going. He's connected himself with some leaders in the industry. I've been following this company for a year now and just bought in because it's got a lot of upside.
I know several people that are complete boneheads and they have very smart people running companies for them and making boatloads of cash. Even if George wasn't a smart guy, that really wouldn't matter. He's going to be your hero in a few years. Just wait.
Go ahead and find me another reason to sell 'cause I may add more to the 25K shares I have. You'll all be kicking yourself at the end of the month.
Thanks cbengtson for setting it straight. I have done my DD on this company and everything that I've seen, looks really good to me and this may indeed be the needle in a haystack. The issue with many investors on here is they want to make a quick buck and they become inpatient...everyday you hear whiners complaining why the SLB report is not out, why is George selling, when is the news coming out, blah blah blah. Bashers keep looking for reasons to bring the stock down, things that have no weight on this stock like why George ran for office and lost. He ran as a Conservative. For all I know, liberal Canadians might not be ready for a Conservative. What does that have to do with the company? The stock did go down today, but not by much. Considering how volatile these stocks can get, it definitely did not tank and is in fact recovering nicely. So, if you are serious about making a lot of money, buy some shares and be patient. It will be a while before the company evolves and their operations start bringing in big revenue.
Sorry, I meant to say Canada does not have a bi-lateral extradition treaty for CERTAIN white collar crimes. Obvious, convicted perpetrators of embezzlement, for example, could be extradicted back to US.
Its interesting every thing I have been saying over the last week is coming to light....200,000 short positions this morning and look at the sell off....Get out while you can ....We are just feeding this George's guys ego and lunch.....There are better stocks out there OTBB's and if you are interested we can discuss them as well....