1. How do you know Exxon and Repsol lost interest? You don't. But you state that as a fact, as if you have access to some information source not accessible to the rest of us.
2. It might well be that Exxon and Repsol are interested. However, they are highly unlikely to offer a deal on terms IFNY would find acceptable until the concession is substantially de-risked; which means we have to wait for more seismic to be done and and for the results of Noble's exploratory drilling. So it may well be that the reason no deal has yet been done is because IFNY is holding out for more advantageous terms. That theory - not yours - is highly consistent with the points Stan made in the July CC.
3. This point is addressed to several posters: You do of course know that IFNY only received EIA approval in April 2013. That means that IFNY has only been in a position to negotiate a deal since then. The BS about IFNY not doing anything with its concession for 4 years is...well...BS.
4. And I am interested in learning as much as I can about the geology of IFNY's concession, but I don't see how your posts have contributed anything useful in that regard. Instead they strike me as simple bashing trying to disguise itself with pseudo-geology mumbo-jumbo. Like your post about IFNY's concession not being particularly valuable because it lies on the shelf in shallow water. Good grief. Ever here of plate tectonics?
It occurred to me that a new company cannot just enter Nicaraguan waters and start doing seismic. Many countries require that the new company first register and get a tax id number. Why? Because you cannot just enter a country and start performing services for which you are being compensated. If you want to know which one it is going to be, you might take a look at the new entries in the commercial registry at the Ministry of Commerce (Ministerio de Fomento, Industria y Comercio), which is maintained by the "Unique Office for Investment" (Ventanilla Unica de Inversiones).
Agree. It's getting old. Very old. And the more I read up on this business the less sense it makes. The most inane/mindless/illogical part of the theory is the conclusion that IFNY's concession cannot be very valuable because there is no deal with Exxon or Repsol yet. That is beyond ridiculous.
All the signs (2 PRs in a week, the content of the second PR, an early 10-Q, a CC after COB on a workday 7 days later) certainly seem to suggest that something very substantial is in the works.
If you truly believe the above you should be shorting this like there is no tomorrow. But the volume and pps movement just don't seem to indicate that much, if any, shorting going on.
I had always been under the impression that IFNY had to begin filling its obligations under the work-plan agreed with the Nic gov before the end of the year. Frankly I think that Stan did not want to publicly reveal the January 2014 deadline as that info would have been taken advantage of by potential partners during the negotiations. Now that it appears in a 10-Q filed this week, and we have a cc next week after COB on Tuesday makes me believe that the probabilities favor the theory that a deal has been reached and that closing is scheduled for next Tuesday. I also think that this why we had a second PR last week.
We will know in less than 7 days.
Nothing in there was surprising or unexpected. At this point, I think the Q is irrelevant; what matters is whether and what kind of deal Stan can put together and still start seismic in Q4. Also, Noble's results from its first well will impact us. That's it and that's all.
But that won't stop the shorts and bashers from trying to use the Q.
What I find most intriguing is the week-long separation between the 10-Q filing and the CC. That is very curious. And the 10-Q was filed nearly 10 days early, which I also find interesting. And why is the CC being held after market close next Tuesday? Normally, IFNY holds its CC's in the morning. One plausible explanation is that something else in the pipeline that will pop out after the market closes next Tuesday. I wrote "plausible", not "definite".
Noble should hit total depth on the first well sometime in the next 15-25 days; so we will know by the end of the month, as Noble indicated in the cc at the end of October.
The cc was always was going to be about the 10-Q. I think they issued a new pr outlining what else would be discussed for the sole purpose of arresting this week's silly decline. I should be thankful for the SA article as it enabled me to pick up a bunch more under $2.20.
Today's PR is obviously aimed at counteracting the silliness started on Monday by the nonsense SA article.
" OVERLAND PARK, KS--(Marketwired - Nov 1, 2013) - Infinity Energy Resources, Inc. (OTCQB: IFNY) ("Infinity" or the "Company"), an independent oil and gas exploration and development company, reminds investors that it has scheduled a corporate update conference call for 4:15 p.m. EST on Tuesday, November 12, 2013. During the call, management plans to discuss in detail the following, with respect to its 1.4 million-acre offshore Nicaragua oil and gas concessions and other subjects of interest:
-Timing of 2-D and 3-D seismic survey.
-Amount of, and locations for, 2-D and 3-D seismic mapping activities.
-Parameters for drilling initial exploratory well.
-Prospects for listing IFNY common stock on a national stock exchange.
-Review of information contained in third quarter Form 10-Q filing."
In your last paragraph you suggest that the clown's article caused Stan to schedule a conference call. That is just silly. The next 10-Q is due by November 14. The CC is timed to coincide with the filing of the 10-Q. A few weeks ago I predicted we would get a CC around mid-November. The clown's article had nothing whatsoever to do with the CC.
The author of the article stated he is a short. And he went out of his way to write a negative article for Seeking Alpha. Obviously he cares.
And I can tell from the number of positive recs that your inane post received that I am most likely correct about the manipulation. Certainly seems like this board is being used to further the manipulative scheme.
Some nobody writes an article on Seeking Alpha setting forth the (highly flawed, IMO ) short thesis about a low volume stock. Sell a few shares short to drop the price, and watch the newbies start dumping, then short it down a little more to really shake the tree, then cover at rock bottom prices.
I bought some more in the low $2's. Perhaps I should even thank the guy. .
CC is scheduled to coincide with the filing of the next 10Q, due by November 14. Also, there is always a written PR just before a CC. So we should see a PR the morning of November 12, maybe (but doubtful) November 11.
BTW, it may well be that the article was intended to scare some retails into dumping so the guy - an admitted short - can cover more cheaply. After all, November will likely be a very important month for IFNY.
The conference call is scheduled to coincide with the filing of the next 10Q. The filing deadline is November 14.
I don't know Stan from Adam. What I am suggesting is that you'r constant - and at times obviously exaggerated - criticism of Stan suggests that you are not entirely objective when it comes to Stan. I have my own specific criticisms of Stan, particularly when it comes to providing overly optimistic forward-looking statements and not paying close enough attention to SEC filing requirements and deadlines, but I don't whack him wholesale the way you do. In the end Amegy will decide to keep him or cut him loose. They have more invested in this than any of us and are very likely a lot closer to what is happening (or not happening) at the moment.
I will again make a point I made a month or two ago: It is quite possible that Stan publicly disclosed the 2-3 offers he had from seismic firms as a negotiating tactic to solicit an offer (or maybe a better offer) from a bigger fish.
It could also be that we are going to be surprised with secondary stock offering in the near future so that we have the money to do the seismic ourselves. Sell 5 million shares at $2.8 and now you have $12 million (after transaction costs) to do the seismic yourself. You never know.