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creedster_99 58 posts  |  Last Activity: Nov 11, 2014 2:21 PM Member since: Nov 10, 1999
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  • Reply to

    Credit deal, spell it out slowly,

    by verado Nov 8, 2014 8:35 PM
    creedster_99 creedster_99 Nov 11, 2014 2:21 PM Flag

    coleman, there may be more oil in Cook Inlet but it needs to be found while Miller is still a viable venture. They need to drastically cut costs until they can find more production , otherwise they will be joining the ranks of all of the other companies who have occupied the Osprey platform and failed...The only possibility I see of increased production until badami (which is more than 6 mos away) is if they can rework RU-9 and get some reasonable flow out of it. At $3, it's not just me concerned about Miller surviving. And yes, I did sell 2/3's of my original position, until I sold more today. So if you bought my shares at $3.33, you're up 8 cents, congrats!

  • Reply to

    Credit deal, spell it out slowly,

    by verado Nov 8, 2014 8:35 PM
    creedster_99 creedster_99 Nov 11, 2014 11:30 AM Flag

    You are on drugs!!!!! Miller's portion will be 600 barrels a day and with a steady, reliable drop. New drilling won't start till April. WHERE are you going to get 1500 - 2000 barrels from????

  • Reply to

    Credit deal, spell it out slowly,

    by verado Nov 8, 2014 8:35 PM
    creedster_99 creedster_99 Nov 11, 2014 10:32 AM Flag

    As I said many times before, Miller was in a good position with Kustatan facilities. All they really need/needed was for Apache, Hilcorp or Miller to find significant oil in Cook Inlet. Had any of those 3 entities found oil in sufficient quantities, then the processing facilities at Kustatan would be running full bore and be very valuable. At that point, it would have been reasonable to expect a buyout offer from one of the two previously mentioned companies. The dearth of good drilling news is not limited to Miller. Neither Apache nor Hilcorp has found anything of significance. I guess Chevron was right all along. RU-9 may have been an exception if they hadn't f'd up the well! Can it be resurrected? That's why this stock isn't $1 today...Oil and gas are trickling in to help with income but Miller is still bleeding money and they need to FIND oil and gas. Buccaneer is dead. RU-9 has been a CF and Badami is at least 6 months away from drilling. SO WHERE IS THE INCOME GOING TO COME FROM?????

  • Reply to

    Credit deal, spell it out slowly,

    by verado Nov 8, 2014 8:35 PM
    creedster_99 creedster_99 Nov 10, 2014 12:30 AM Flag

    If I spent $400 M to build a grain silo in the heart of downtown Manhattan and had no grain to store in it, it would be worthless. Miller owns a nice property in Kustatan. Unless Miller, Apache or Hilcorp find oil and need those facilities, they are as valuable as an empty grain silo in Manhattan! I was hoping during these past several years that SOMEONE would find oil in Cook Inlet and need Miller's facilities....sadly, so far, no major finds. So, in closing, the $400 M number you quote, even in the worst recent oil price time period, is dependent on someone finding oil in nice quantities. So far, it hasn't happened. Maybe soon, maybe not . At this point , it's potential promise....

  • Reply to

    Anybody able to decipher anything on RU-9?

    by bryan2464 Nov 4, 2014 5:13 PM
    creedster_99 creedster_99 Nov 7, 2014 10:05 AM Flag

    Can anyone give us an estimate on when they expect oil to flow? I'm still stuck on the June announcement if "3 wells being drilled" Were all 3 busts? Seriously, what happened out there??? Nearly 6 months overdue? What do you think, let's praise David Halls efforts again and give him hundreds of thousands of additional options? This is one big CF!

  • Reply to

    Creed: how many more weeks?

    by gsenthusiast Nov 5, 2014 3:59 PM
    creedster_99 creedster_99 Nov 7, 2014 10:00 AM Flag

    I am not Bryan, but I think I've educated him.....2 weeks....

  • Reply to

    Very weak close on oil today

    by pa1702 Nov 3, 2014 4:11 PM
    creedster_99 creedster_99 Nov 4, 2014 8:39 AM Flag

    And to think that last Christmas we thought we would now be at 5,000 to 6,000 barrels a day....guess that's what we are at $3 instead of $9

  • Reply to

    Longs better read the release carefully.

    by verado Oct 29, 2014 11:36 AM
    creedster_99 creedster_99 Oct 29, 2014 11:46 AM Flag

    I am thankful that they finally addressed the RU-9 issues. They needed to do this publicly before the AGM. Though we don't know what happened, it seems from the press release that they damaged the well in the course of drilling and needed to go back and they redrilled the two zones again. I still have 1/3 of my original position but with a cost average of $6.50, I'm going to need a gusher to get to break even! Brawley's departure is worrisome. If RU-9 is a total failure, which I think is not yet known at this time, Brawley will have made the right decision. If they can resurrect the well, all may be....well?

  • Word is that we will have news in 2 weeks.

    Have we ever been misled?

  • creedster_99 by creedster_99 Oct 23, 2014 10:18 AM Flag

    nuff said....

  • Reply to

    As we edge closer to November...

    by creedster_99 Oct 20, 2014 12:01 PM
    creedster_99 creedster_99 Oct 20, 2014 1:50 PM Flag

    Though I do like options, I have never traded MILL options ..THANK GOD!

    No, I was selling shares I've purchased over the past 3 years...Right now, my remaining share average is $6.50....As you might surmise, I bought all the way down from $8's last december when everything looked beautiful! Oh well....

  • Reply to

    As we edge closer to November...

    by creedster_99 Oct 20, 2014 12:01 PM
    creedster_99 creedster_99 Oct 20, 2014 1:12 PM Flag

    Oh Ted, I'm a very real shareholder who has lost a great deal of money (real money, not paper profits) based on management's failure to deliver timelines and results. Yes, I'm willing to give the new guy some time but I'm still unsure how much power he has with an "Executive Chairman" still above him.....That said, where are the updates and drilling results? Why the bonuses and options for Those who oversee this drilling fiasco?

  • One must wonder....#$%$ is going on with this company? They were drilling 3 sites early this summer...Were all 3 busts???? I suppose the price tells all...

  • Reply to

    wake up desparado..wake your 9 peeps up

    by jerryfufu1 Oct 17, 2014 11:07 AM
    creedster_99 creedster_99 Oct 17, 2014 11:22 AM Flag

    Perez on the 6...though Talamo has been hot recently...

  • creedster_99 by creedster_99 Oct 15, 2014 9:41 AM Flag

    That's almost as good as being green!

  • creedster_99 creedster_99 Oct 14, 2014 4:29 PM Flag

    At this point you have to ask, if 9 is a failure, it seems to be priced in already. How much cash do they have and more importantly, where are they going to drill next? Current production is declining, they're buying production from Buccaneer and savant but at a price with borrowed money. At some point, they need to turn a profit! When will that ever be, esp with oil process diving the past few months?

  • ...No one believes management any longer. Under $5, you won't see much Institutional support. That said, the only ones holding shares are insiders and peons like me. #$%$ off the peons and you see what we are witnessing now. Month after month of drilling delays and failures and it looks like everyone is running for the exits at the same time. At concerts and sporting events, people get trampled and die. Here we just lose money...

    It's a confluence of bad news with Brent down another $3-4 today and we've seen oil drop $25 in the past 1-2 mos. Yes, the State of Alaska will reimburse Miller roughly 65% of drilling costs for a failed well so if RU-9 is a bust, there will need to be other catalysts for Miller to move up. We know about Buccaneer, Savant and hedging current oil but a CATALYST will be needed to stem the flow south as we all fight for the exits....

    Glas I sold 1/3 of my position 5-6 weeks ago. I just wish I had been smart enough and brave enough to sell out completely. I was drinking the "2 week" Koolaid!

    Mr. Purple lips.....

  • creedster_99 by creedster_99 Oct 13, 2014 10:31 AM Flag

    2 weeks!!!!

  • Reply to

    New short interest out

    by jerryfufu1 Oct 9, 2014 11:25 PM
    creedster_99 creedster_99 Oct 10, 2014 9:57 AM Flag

    In nearly 30 years of investing, real short squeezes hardly ever happen. That said, I would love to se one here. Fufu, stockpickingmoron and your other aliases who promise $10 tomorrow are shills. I may seem like a short but in fact I'm a very frustrated long x 3 years. Can't say I was complaining at $8.80 but I CERTAINLY WASN'T HAPPY WITH THE 25% share grab attempt by Boruff, Voiticky and Miller. Two are gone now, Boruff may still be pulling the strings behind the scenes. The 200,000 options for Hall are ridiculous. Hall has overseen major cost overruns and poor cost controls running the Alaskan operations.

    Short squeeze???? BRING IT BABY!

  • It must be true this time! I can't wait!

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