No more games, no more guessing, no more delays, no more handouts.... FINALLY PRODUCING COMMERCIAL QUANTITIES.
It took a long long time to get here but its FINALLY happening.
Heading back to the $0.60s of January 2012.
And not looking back !
Its gonna be a great year after all.
Well Over a year ago was just me and a couple of other passer bys here.
Money was made and continues to be made here .... bigger story at play here than most realize.
It's not Company vs. Trader anymore... it's Trader vs. Investor.
Dejour is pleased to report the results of operations to shareholders for the second quarter of 2013.
During the quarter we:
1. Completed the drilling of three new wells to the Williams Fork formulation at Kokopelli in the eastern portion of the Piceance Basin of Colorado;
2. Increased production at the Drake/Woodrush Halfway “E” Pool north of Fort St. John, British Columbia to an average of 422 BOEPD consisting of 282 BOPD of oil and 843 Mcf/d of gas. Current quarter’s oil production (BOPD) exceeded Q1 2012 production by 31%, a result of better operating efficiency at Drake/Woodrush and achieving “peak production” from the existing oil pool through implementation of a water flood;
3. Closed a $3.5 million loan facility with a Canadian institutional lender and applied $1.65 million of the net proceeds to repay an amount owing to the Company’s Canadian bank.
Revenue increased 43% from $1.8 million in Q2 2012 to $2.5 million for the three months ended June 30, 2013. This increase was primarily attributable to higher combined average realized prices and an increase in oil production during the current quarter compared with Q2 2012. The Company incurred a loss of $1.1 million during Q2 2013 of which $978,000 was represented by non-cash expense amounts such as amortization, depletion, and stock based compensation.
During Q2 2013, the Company generated $522,000 in cash flow from operating activities compared with a deficiency of $727,000 for the comparable period ended June 30, 2012. For the six months ended June 30, 2013, cash flow from operating activities was $695,000 compared with a deficiency of $2,362,000 for the six months ended June 30, 2012.
Subsequent to June 30, 2013, the four wells drilled and completed in a joint venture with a U.S. drilling fund at Kokopelli were fracked and turned into the gas sales line. Cumulative IP rates will be made available for all four wells when the wells have substantially cleaned up.
Nat Gas production lower than last year Q2... how'd that happen ?
31% production increase in Woodrush is encouraging.
Thanks to that 84% increase in NG rates over H1-2012,
If flow rates continue to increase at KoKo, annual revs could move up to
$10MM. Expecting to see better than $3MM revs each in Q3 & Q4 this year
to get it there but hoping that flow rates are much strong than that.
On the low end $10MM and top end $15MM.
Lets see what KoKo's got !!!
All in all, not bad, lets just keep those net expenses in check and nice to see
more stock being doled out instead of cash for compensation.
Poor things been in such a slumber it's hardly being recognized.
Doesn't matter.... WPX is gonna get the delivery soon.
It's not the quantity but QUALITY of those that recognize it.
Hello CHK, ECA, WPZ, CVX, PQ !
On the first 2 wells, from 500 MCF/day. Full production flow rates probably by Labour Day.
Release the HOUNDS !!!!
"Combined sales of natural gas from our first two wells, which began at approximately 550 MCF/d has now increased steadily to 1500 MCF/d today, after only two days of additional clean up time. The wells will continue to clean up for at least two more weeks. The frac treatments on the second two wells have now been completed and flow back from those wells will begin early next week. Dejour expects it will take several more weeks before initial production rates can be released for the four wells."
Inspite of the screwing just taken to outside public shareholders, share price should fare well.
This a company full of brainiac engineers and scientists.... definitely not the most financially astute.
.... or better yet, a total buyout.
Gotta find a way to accumulate 120MM shares on the cheap first.
Anyone got some clever ideas ??
3900 Paseo Del Sol, Santa Fe, NM
Or visit their Facebook page and twitter feed and vent there.
Remember, we have no voting rights and this is an OTCBB do don't expect too much
but at least they'll get the message.
Pretty sneaky if he did.
Definitely sounds like someone close to Cola hooked him up with some top shelf booty.
1st get some shares on the cheap and then, with eyes twinkling, ride Sigmas coat tails and
get in on the good thing with GE.
Maybe Cola didn't read the fine print on volume of shares but just saw Dollar Signs
on the $1.2MM. Don't you wish you were in on that sweetie-pie of a deal !
Oh well... what's done is done.
He could've spent $1MM on shower curtains like the ex-Tyco CEO, but that doesn't look like
it's gonna happen here. Another day here, another dollar.
..... with all of us, maybe they would've fared better.
Hopefully it's a lesson learned !
All in all, the business looks strong but some lucky boogers picked up a real steal and now
they're laughing all the way to the bank. Sucks to hear these scheisters get $0.001 while the
average joe here is paying for their private cabana in the $0.08s
PhDs maybe... but money wise, real novices !
Renegotiating the terms to more realistic figures would've gone a long way to build overall confidence.
What's done is done.
Lets make sure they hear about it and don't make the same mistake again !
Having some knowledge of being involved with aerospace engineering and parts procurement, I can tell you that for every dollar that is saved on the bottom line it is roughly equivalent to driving $6-10 top line revenue for companies like GE & UTX.
If GE saves 25% on cost savings attributed to operational efficiencies like AM and
Sigma gets written into the manufacturing process, then rest assured that GE will pony up
the monies to keep Sigmas IP/exclusivity.
We don't know what GE paid for Morris but I'm pretty confident it was a handsome sum.
We all know what relative fair value of 3d printing companies is these days on the market
($300-$600MM as standalones).
Because Sigma is more of a service provider than a parts/goods provider you can scale back that asset value to about $200-400MM.
I have some broad generalizations in my logic at this point, I admit, but as it stands today,
Sigma has better upside potential and getting that foot in the door with GE to prove
their mettle was the key.
They took a serious haircut today on equity value but its merely a fink in the armour
as this story plays out.
The bigger story that everyone missed out on today is that they are expanding internationally and that they are working on a new machine called Metal3DX.
Well.... GE would've picked them up for $0.50-$0.60/sh before.
Now maybe they'll offer $0.25-$0.45/sh.
Still... stranger things have happened. Whoever got those 120MM restricted
shares is probably going to make a minimum 3-4x there loan extension in January 2014.
Wait, that puts this right back at $0.24-$0.32/sh.
Save yourself the anguish of an additional 20% cap gain and wait it out.
This story is far from over yet.