New Century Energy Corp, headquartered in Houston, TX, is anindependent oil and gas exploration and production company, withdaily net production to its working interest of approximately 750barrels of oil per day (Bopd) and 1.950 million cubic feet of gasper day (Mcfgpd). The Company's proved reserves as of December 31,2007 are 1,613,000 barrels of crude oil and 3.0 billion cubic feet(Bcf) of gas. The Company's major areas of operations are locatedonshore United States, primarily in Matagorda, McMullen, Goliad andWharton Counties in Texas.
During 2007, The Company's proved oil reserves increased by over88% due primarily to drilling success of new oil reserves in theMustang Creek Field area in McMullen County, Texas and favorablewell performance. Proved developed oil reserves now equal 1.3million barrels, and comprise 80% of the Company's 1.6 millionbarrels of total proved oil reserves.
The Company currently has approximately 20,700 gross acres and19,000 net acres of oil and gas leaseholds on shore inTexas..
Share Price: $.025 8/19/2008
52 Week High: $.74
52 Week Low: $.008
Authorized Shares: 200M
Outstanding Shares: 56,010,612 Verified by Trendfinder on 6/17/2008with the company
CEO - Edward R. DeStefano Owns 37,516,350 Shares
Promethean Industries, Inc. 5,595,460 Shares
2008 Reserve Report: http://www.newcenturyenergy.com/reservereport/ReserveReport2008.pdf
New Century Energy Corp.
1770 St. James Place, Suite 380
Houston, Texas 77056
CEO - Edward DeStefano
Continental Stock Transfer & Trust Company
2 Broadway 19th Floor
New York, NY 10004
Email: [email protected]
New Century Energy's mission is to increase shareholder value byacquiring producing properties, profit from current drilling anddevelopment activities, and engage in opportunistic joint venturesthat can expand its development program and prospect base.
The Company Strives to:
Increase production and reserves by acquiring and exploitingreserves at an attractive costs.
Target under-exploited oil and gas properties for acquisition
Produce our reserves at the most economic and profitible rates,with rapid payback on capital invested.
Explore and develope reserves on our expanding acreageholdings.
Apply 3-D seismic and other state of the art technologies toincrease our drilling success rate.
Expand our exploration activities particularly for shallow gas andoil reserves in areas of our historical success..
Continue our stratigic joint venture activities with experiencedoil and gas exploration teams and technical specialists.
Our Business Strategy for 2008 & 2009
As a part of our corporate strategy, we expect to remain focused inthe following operational and project areas:
Remain focused in Texas Gulf Coast onshore region;
Acquire properties and proven reserves where we believed additionalvalue can be created through a combination of exploitation,development, exploration drilling and expanding marketingopportunities;
Acquire properties that give us a majority working interest andoperational control or where we believe we can ultimately obtainit;
Maximize the value of our properties by increasing production andreserves while reducing operating costs;
Maintain a highly experienced team of operations and explorationconsultants using state of the art 3D seismic technology to preparedetailed field geological studies; and
Develop drilling prospects and acquire acreage positions over newdrilling areas, for future drilling by the Company or farm out toqualified industry partners. In connection with this strategy, newprojects are being evaluated in Texas.
Revenue Estimate For Q2, FY 2008 - Per OptionMonster and BUDF0X
Daily Chart with IchiMoku Clouds
OIL PRICE CHART
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