Plus side to the September numbers is that Lakeshore is producing almost 6 BOPD. I know its not a sexy number but add that to the McComas, and the Madeley and we could very possibly be in the 300 bopd ballpark this month. Lets be honest if we get in the 100 bopd range soon then we are setting up a nice safety blanket. We may want it sooner than its coming but anyone that bought stock since February was only able to get them cheap because progress has been slow. Not to say you couldn't have purchased stock but not for under .15. I'd rather wait 2 years for a few million than wait 6 months for 100k. Anyone that questions the North LA deal is a moron. Treaty has absolutely nothing more to do with those wells other than collect a check. LNE only has those wells to drill and they won't get paid until they are producing so you bet they are going to do them as soon as the deal is finalized. Good things are brewing and looking at the September numbers we definitely brought in more revenue in the 3rd than the 2nd.
One thing that I would like the answer for is that Reid stated in a PR that Lakeshore was currently producing 37 BOPD. That was in June. It produced 167 in September and less in August. They never cleared that up. I tried calling but left a VM. I know you guys talk to them a lot so maybe you could check that out. I know there is probably a reasonable explanation but thats ammo for the bashers. It had me pretty upset for a little while. Its not that there was an error made but things like that feed in to what the bashers put on that board. There has been 3 crucial PR's this year that hurt us.
1) Belize - We all know that it could just be GOP trying to squeeze treaty for more money, but to your average Joe I think they are skeptical about Treaty.
2) Gwynn says the East TX deal should get us to 5K BOPD by end of July - In their defense the lease that they were banking on was the Chumley and it fell through, but to the average Joe that doesn't do as much DD as us, that doubled their skeptism
3) Lakeshore currently producing 37 BOPD - There is an explanation but we haven't heard it yet.
I point all of this out because if this was never stated the bashers wouldn't have ammo. I know we will have news on something but I wouldn't book that price going above .04 until after we get the 4th quarter results. I was hopeful for the 3rd Q this morning but after seeing the September numbers it didn't happen. I am very much still 85% sure that Treaty Investors will be happy but it won't come now. Basically the only shot we have at the 3rd being good is if Belize was producing but we all know that once that first drop hits surface we will know. Lets be honest if the PPS hits .15 then you made more money on this stock over 2 years than you would've in any other stock. Please don't curse me because I still think Treaty is going to be the investment of a lifetime I just think it will be delayed a little. I am open minded so let me know if I'm off.
