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GMX Resources Inc. Message Board

  • global_social_gaming global_social_gaming Dec 31, 2011 11:32 AM Flag

    CFW vs. RAM(CFW has the proven 4.6 billion barrels oil reserve)

    RAM does not have the proven oil reserve. But CFW does have 4.6 billion proven oil reserve according to Yahoo Finance info.

    How come it is so expensive to take the proven reserve out of ground? The Frac and horizontal drill are feasible technology! It is not difficult for them to find the partner to drill on their properties!

    CFW issitting on a pile of Black Gold!

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    • CFW:

      Total assets - $63 million to $64 million as of September 30, 2011

      Total liabilities - $115 million to $117 million as of September 30, 2011

      Stockholder deficit - $52 million to $54 million as of September 30, 2011

      Revenue - $6 million for the three months ended September 30, 2011

      Net income - $1 million to $2 million for the three months ended September 30, 2011

    • According to CFW web site, the official reserves are :

      Cato fields, NM, 16 MMBOE.

      Devenport, OK, 1.3 MMBO.

      Desdemona, TX, 4 MMBO.

      Nowata, OK, 1.5 MMBO.

      Penhandle, TX, 29MMBO.

      MMBO = Million barrel of oil.
      MBO = thousand BO

      CFW all reserves counted is 52 MMBO.

      Where in hell you get 4 billions BO ?? That is more than ALL proven reserves in the Bakken central bowl kitchen.

      The Bradford report mistaken MBO as million BO, very poor trade analyst report. They don't even know the commodity units.

    • The Debt to asset ratio is too high for CFW...
      NatGas prices are at record lows... it's kinda sad that we have an abundant cleaner burning job creating extremely economically cheaper natural resource here in the USA!

      GMXR made the switch to that $100 per barrel Oil.. If your going to make an attempt for a turnaround for your company make sure your drilling for a commodity that's extremely valuable as Black Gold..

      Passing the NatGas Act sooner rather than later may help some of these small distressed NatGas companies.. although for some common shareholders it's too late..

 

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