Would you guys tell TMB to give McCrady a call over at SDCJF so he can explain how to promote a company and keep shareholder value as a priority?
Maybe SDCJF should buy SSN.. with SDCJF's drilling abilities and TMB's promotional skills, that would be a $20 stock!
For those that don't know the history.. about 4 years ago, these were very similar companies. TMB's approach is bawlz to the wall barrages of press releases anytime anything might happen, he's gotten the stock to $5 sitting on top of water and salt domes with no oil.. and currently he's propelled you guys from .40 to almost $1 in less than a week with repetitive press releases on ONE WELL that might have oil (TMB has released oil shows before, then nothing..), an excuse for a second well not showing oil, and a failed / delayed land sale that would finance some of your current drilling plans. TMB is the master of promotion.. even if you guys do a share offering now, you'll be diluting 50% less shares than 1 week ago!
TMB got skillzzzzzzzzzzzzzzzzz!!
Now look at SDCJF... both were in the Niobrara 4 years ago, SSN got as low as .20, SDCJF was .17.. SDCJF now produces over 3K boepd and has an aggressive drilling program / leases in the EFS with the cash to drill it. We're drilling 30 wells by the end of the year, most in EFS (about 600 BOPD avg), some Mississippian (275 bopd avg) with 50 to 100% WI, multiple others with 3-50% WI, and plan to drill 50 wells next year. SDCJF is profitable and has a loan facility for up to 300M with wells fargo at great interest rates and has 125M cash in the bank.
McCrady skillzzzz???? He gets oil, but he doesn't get us paid for it...
Anyway, it's been very interesting being a part of both of these companies.. McCrady definitely needs to learn a little bit from TMB though.. everything is perception.. hekk, the money we're making is all perceived value.
skull, that's my point.. SDCJF does not share TMB's shareholder value. McCrady, over the last 4 years, grew SDCJF from 34M market cap (I payed .17, they had 200M shares) to it's current 400M and I'm making roughly the same an SSN investor is over the same time period. If you were to put TMB at the helm of everything SDCJF has accomplished, that would be a $20 stock right now..
Another brag on TMB.. SSN was .67 with bankruptcy imminent. He talked a bank in to extending the loan 3 months, did a share offering of 13M (just enough to pay the bank note, if needed), and negotiated CHK buying a salt dome and water wells for 67million (and retained 3.5% orri). Talked HAL in to drilling a free well for us at 50% wi, all while BK looming. Catapulted the stock price to $5 with multiple press releases, found no oil and moved on.. the rest is history.
He's creating excitement right now again, and will raise cash for whatever plan he's concocting and maybe this time he finds oil rather than water and salt domes.. who knows, but it'll be fun to watch.
Compare to SDCJF who actually did strike it big, but for some reason, recently did a share offering at .86 for 45M cash, when we had 80M cash in the bank, and income from producing wells, and a 300M line of credit with Wells Fargo of which only 13M is drawn.... releases nothing except occasional operations updates and other than that, you wait for Q reports to know anything.