Welcome to the Connacher Oil and Gas Hub on AGORACOM

Connacher is a growing exploration, development and production company with a focus on producing bitumen and expanding its in-situ oil sands projects located near Fort McMurray, Alberta

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Message: rolling dice

Re: rolling dice

posted on Jan 11, 2008 07:34PM

Hi 2CRUDE,

I just finished looking at the latest financial statements of Maxim Resources.  I can't believe anyone would invest a penny in this outfit.  It's principal business appears to be selling shares to unsophisticated investors with too much extra cash on hand.  It appears to be a 1 man band - employing the principal owners relatives and daughter.

It is supposedly engaging in joint ventures with various oil and gas companies but its annual revenue appears to be less than 10% of its expenses and it has an accumulated deficit of over $13 million and 45 million shares oustanding.

If you can get your 40G's back I recommend you do it quickly.

I expected better from you.

 

XBB

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