Anybody know this company he is teasing? "flea sized company which nailed down 76,000 acres in the heart of Bakken Formation. they've drilled 14 test wells with 14 gushers" apparently this tiny company was "started by 5 oil men who had worked for the big oil companies" and "using a new technology to unlock the oil on this 76000 acre holding" any ideas??
I am wondering about this stock too. It's not Painted Pony, he's teasing a 2-3 cent stock. I bought his eromanga hydrocarbon pick at 15 cents and its up nicely. Anybody have an idea...I'm not shelling out $2600 to find out.
thank you womanwithportfolio! Do you have a take on this Painted Pony stock as you seem to be quite well informed. It certainly is not a penny stock. I thought Czeschin teased it as a penny stock like Hardman. Does it look good to you?
Your initial post doesn't say anything about 2-3 cents. Was it in another part of the tease? Penny Stock can mean different things, perhaps any stock under $10 is considered a penny stock by him? Flea Sized company could be referring to employee count, not stock price. Painted Pony sure matches up with everything else in his tease.
Jlaws: I suggest you go to gumshoe's main page, and read the first COMMENT to "Colorado Oil Jackpot" writeup. It appears to have the tease in full, and i didn't see anything about 2-3 cents. In the Colorado Oil writeup, gumshoe mentions that Stansberry considers any stock under $5 to be a penny stock. And while it's not a stansberry tease, you can see that these guys put out a tease that is somewhat cryptic for a reason. If you read this soon enough, you can go to the top of this page, and find a link on the left. Otherwise you'll have to go to the main page.
Here's a release from Painted Pony in March that talks about the specific acreage and the 14 wells. (I don't have an opinion on the stock, though it does look like they are actually drilling and getting oil.) At-the-track is correct that these schmoes consider anything under $5 a penny stock:
Painted Pony has expanded its exposure to the Bakken light oil play by executing a new farm-in agreement allowing access to 20.75 gross (17.0 net) sections (10,907 net acres) in the North Midale, Saskatchewan area. Under the terms of the agreement, Painted Pony will pay 100%, to earn 100%, in the lands subject to a gross overriding royalty. The Company has committed to drill two wells on the farmin lands. The Company also acquired an additional 10.25 gross (9.88 net) sections (6,323 net acres) in the Kisbey and other Bakken light oil exploration areas.
Painted Pony estimates a drilling inventory of over 200 potential drilling locations for Bakken oil within the approximately 76,000 net acres it owns or has access to within South East Saskatchewan.
Painted Pony commenced an active operated exploration and development program in May 2007, targeting light, sweet oil in the Bakken formation in SE Saskatchewan. To date, Painted Pony has drilled a total of 14 (5.0 net) successful Bakken horizontal wells. Currently 8 (2.7 net) Bakken formation wells are producing and an additional 4 (1.3 net) wells are expected to be on production before the end of the first quarter of 2008. Production field estimates for the last week of February 2007 averaged 237 bbls/d net to Painted Pony, from 2.7 net Bakken formation wells. The Company is currently drilling an additional 2 (0.66 net) Bakken horizontal wells.
You guys are right, I've been getting this tease for weeks and he had labled a couple of them 2 CENT oil stock... He was talking about one of his other picks that ran (Nido). Sorry.