IT MUST BE TRUE, I READ IT ON THE INTERNET or THE DIRTY LITTLE SECRET OF PAY TO TOUT ENERGY BLOGGERS?
I read a lot of Internet reports every day. And I read Internet reports that members post in our discussions. We sometimes make light of the claims made in those reports. In the past we have done so in regard to Mainland Resources and their Mississippi "Haynesville Shale Play" announcements. I'm not going to pick on Cohen Research or OilVoice or Jurassic Exploration or any of the other companies that, IMO, tout energy companies and their wonderful prospects for pay. I do wish to hear the opinion of other members and to point out that much of what is circulating around out there as facts is more public relations spin than truth. Any energy company with a spare $40,000 or more can get Cohen or another touter/PR firm to write and disseminate glowing reports on how wonderful an investment opportunity they represent. Even Black Dragon (discussed in the north Caddo Group). The following Mainland announcement is the first that I have noticed that admits the relationship and the cost of a surrogate promoter.
HOUSTON, Jan. 25 /PRNewswire-FirstCall/ -- Mainland Resources, Inc. (OTC Bulletin Board: MNLU; Frankfurt: 5MN) has received a research report prepared by Grass Roots Research and Distribution / Cohen Independent Research that places a one-year Base Cohen Price target of $5.81 for the Company and recommends Mainland Resources, Inc. as a Strong Short-term Buy and a Buy for the long-term.
The 40-page report details Mainland Resources, Inc’s development of natural gas leases in Louisiana Haynesville shale, along with its recently announced shale gas joint venture in the potential Haynesville shale in a new region in Mississippi. The report offers in-depth projections and calculations using the Cohen Financial and Valuation Model. For copies of the report see http://www.grassrootsrd.com.
Mainland Resources, Inc. paid Cohen Research a fee of $15,000.00 for the preparation of this research report and a fee of $25,000.00 for distribution of the report through its proprietary Grass Roots Distribution Network.
About Grass Roots / Cohen Independent Research
Cohen Independent Research Group, Inc. is the Gold Standard of fundamental securities analysis and considered Wall Street's #1 Independent Research Firm. Their proprietary in house analytical research engine, The Cohen Financial and Valuation Model, allows the firm to analyze companies at a comprehensive depth and level unavailable to any other independent fundamental research firm. See cohenresearch.com.
About Mainland Resources, Inc.
Mainland Resources is a publicly traded energy company engaged in the exploration and production of oil and gas resources. The Company seeks to add shareholder value by focusing on the continued development of its producing assets in the Haynesville Shale and the acquisition and development of leases in emerging oil and gas regions with the potential for significant discoveries. For more information visit the Company’s website at mainlandresources.com.
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Replies to This Discussion
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Permalink Reply by Aubrey C. Sanders, Jr. on
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electro,
I hope our members will take heed of your advice. For a very long time I have advocated that anyone signing any kind of contract, i.e., a lease should seek professional advise unless they completely understand what rights they are giving up. Don't just sign on dotted line. Read and understand all the fine print........
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Permalink Reply by Cheerleader on
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and anyone who represents themselves has a fool for a client!!!!
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Permalink Reply by sesport on -
Here's another fine example of such an announcement ...
http://money.cnn.com/news/newsfeeds/articles/prnewswire/DA33058.htm
"Endeavour has acquired 50 percent of Hillwood Energy Alabama LP's position in Hillwood's unproven, but highly prospective new multi-target gas shale play in Alabama. The company's leasehold position covers approximately 160,000 gross acres (63,000 net acres). The initial investment is approximately $8.0 million. The companies plan to drill four wells the first half of 2010 to test this evolving play. If successful, as many as 400 well locations are available on existing acreage."
Now there's an Alabama shale development?
Read, read, read ... dig, dig, dig into company backgrounds & histories (including officers & directors), remember the motto "due diligence." Oh, and the other motto, "haste makes waste." lol
80)
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Permalink Reply by Skip Peel - Mineral Consultant on
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sesport. The Conasauga Shale (Alabama) has been mentioned off and on since 2007. I don't know much about it other than it appears on maps of North American Shale Gas formations and is located in an area with practically zero historic oil and gas production. The item in the report that most catches my attention is the amount of Endeavour's investment, $8M. As GHS members know that won't go far unless they are using it buy leases at $200/acre. If that was the case, I don't think they would be touting that portion of their business. They'd be keeping it under wraps.
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As you probably know the Smackover formation is known to be present from Alabama to Mexico. Immediately overlying the Smackover, in most places is the Haynesville Formation which consists primarily ot interbedded sandstone and shale. Therefore one might conclude there would be a possibility of gas from the Haynesville Shale anywhere along this trend. The caveat is that the depositional environment may or may not have been favorable to formation and entrapment of gas and/or oil.
One thing that intrigues me is that the Haynesville formation was first named at Haynesville, La. The Haynesville Sand has long been productive in that area along the stateline trend. But, I doubt we will ever see production from Haynesville Shale there. I am satisfied with my meager production from Haynesville and Smackover sands and limestone, but would like someone to prove me wrong about shale production in area.
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Permalink Reply by sesport on
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Skip - You asked for opinions, just throwing in my .25 worth. I read & spot the "iffy" language. (BTW, I forgot to also highlight the phrase "unproven, but highly prospective ..." )IMO, as we work toward more energy independence, among other things, we will see a repeat of history with the highly speculative proposals to "get in on a good thing now, don't wait." In light of recent economic events, I would think strong cautionary advisories would be appreciated.
Electro is also accurate in his recounting of history, too. His statements are also supportive of the idea that nobody is omnipotent in these matters. The data & science will certainly either prove or disprove what can or cannot be produced. Until then, we can only go with what we've got today.
And, again, proceed only after extensive due diligence has been exercised to avoid "crying over spilled frac fluid."
thanks guys - 80)
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