My conversation with Paul Alonzo today.
As I stated earlier, I talked to Paul Alonzo this afternoon. I called him yesterday and asked him to return my call, which he kindly did. Paul is so busy I caught him just before a meeting with some Army Corp. of Engineer guys, and right after another meeting. In other words, he couldn't talk long.
I did talk to him for about 20 minutes though. I probably sounded much more professional than I used to as I've "been around" now - lol. We talked just about everything, and I learned almost nothing, at least no details. When Paul tells you something you need to listen for clues. You have to read between the lines. Even a small bit of enthusiasm is a hint of the level of work being done or revenues produced. He doesn't just spill the beans and tell you what they're up to, at least not yet.. And that is why this homegrown PR is nearly all my opinion. Most of this you've heard before. I will include some facts, but most of it is only what I was able to discern, and I'll tell it like I heard it.
We covered oil, we covered common shares, preferred shares, we covered the pit, and acquisitions, but we didn't talk about construction because I ran out of time. Apparently the pit is still the big story. The pit is generating revenue now at a speed they never imagined. There are 100 trucks per day visiting the pit. Paul was excited to tell me he worked for 8 months to get Army Corp. contracts. Paul gave me permission to say "They're using our product." That was a job well done. Paul told me to send somebody down there to see for themselves the action going on there. If any of you want to go and video the increased pit action let me know.
The authorized share structure is exactly as the PR stated. There is a ratio of common shares to preferred shares that they must conform to. Since they wanted to increase the authorized preferred shares, they had to increase the authorized common shares to conform to the ratio. What will happen with the common shares? The company is buying back common shares. (Sorry that is the best I got.) Paul and I talked about last year when they put a PR out that stated they would buy any shares at .004. He then reminded me how he then issued another PR and raised the floor shortly after.
The other big story is growth through acquisitions. The company is growing huge. Companies are approaching us now to be part of PBLS. There are acquisitions on the table that they are working on and have been working on. Some are close and some won't close, because acquisitions aren't cookie-cutter. Some companies want one thing, and others want something else - those things take time.
In Nevada there is work being done. Same with Tennessee and Wyoming. Kentucky sounded a little cold to me. Tennessee is the next Swiss-cheese and is on the cutting board right now. In Nevada and Wyoming they are working out the details. When you get a lease you get a blank canvas. You need to erect cattle fences and put in some infrastructure. That is being done now out West.
Is a big driller on the agenda, Paul would not or could not say. I know for a fact though that a Bubba Burger franchise is not on the menu.
Paul would not deadline himself or give himself limitations. He got burned for it in the past and no longer mentions time-frames. Paul would not give me any exact figures, or any information that isn't already available. He smacked me down when I asked him if the form-10 would still happen this year. Not because it won't but because he just won't paint himself back into another corner. He did say though that a portion of the company financials is audited and would be released soon, echoing the PR that was released today.
In the end I trust Paul to no end. He's is the leader and I plan to let him lead. What happens happens for a reason. He will maneuver the company around how he needs to and our patience will be generously rewarded.
Good luck to you all with your investments. They are your own decision. Do not let mine or Paul's opinions or facts sway you in any direction.
asus
Quote 03-19-08
"Yes, we must, indeed, all hang together, or most assuredly we shall all hang separately." ~Benjamin Franklin to John Hancock
