GOTECO, I'm looking for "proven" sources of revenu
Post# of 39368
GOTECO, I'm looking for "proven" sources of revenue that are close at hand and I realize those maybe a long time coming depending on what near term milestones are successful. The newsletter points out that Mitchell 3 and 4 are still producing but with no specifics for a whopping 28% take. Is the current Mitchell production the rumored 50 BPD or less? The newsletter speaks to delays and reasons for them and the path forward to cure the ongoing delays. It speaks to the costs for a pump jack and continued purchase of the Stockton lease. We still don't know the plans for the Stockton lease and the past has shown that success isn't always imminent. We read today that the Stockton plan is a 6-12 month plan so plenty of time to visit W. Texas IMO. The baseline I have to go by is TECO's past performance and "words" that operations has some changes and those changes will bring improved results. I'm waiting for those results which in all fairness will take time. I've learned over the last 3+ years that the oil business and TECO in general are slow moving machines so revenues that make up the need for a 1.2B OS could take a long, long time. Now if SJ no. 3 has been successful and the GOB allows TECO to announce a commerically producing well then I will consider that a major milestone and the market should speak to it and the PPS "could possibly" move back up to the dime area. If the new pump on Mitchell no. 1 clears out the sand from the refracking and we start pumping oil then that could become near term milestone no. 2. Based on how long it takes TECO to file their reports it could be a year from now until we see SEC approved filings with these "still questionable" near term revenues formally reported. Without revenue formally filed with the SEC; I wonder how the market will react to successful near term milestones with TECO's market credibility. If these near term milestones fail then once again all we have is ongoing "words" on message boards, in PRs and in newsletters and roughly 50 BPD from Mitchell 3 and 4. Will 10Q1 be filed this week per the last couple of newsletters? They blame accountants but how long did it take TECO to get the filing process started? I question all without the rose colored glasses!