Gulf Coast Oil & Gas (fka GCOG)

[mick]

i opened this from sterling's scenario.

RE:
http://stockcharts.com/c-sc/sc?s=gcog&p=D&b=5&g=0&i=p36604195384&a=126686902&r=6492

Posted by: stervc
In reply to: None Date:11/29/2007 3:02:37 AM
Post #of 8642

All, with GCOG…

First, it is a very good sign that it trades on the OTCBB and has been filing regularly. The Outstanding Shares (OS) for GCOG is 538,445,888 Shares as of 12 Nov 07 filed on 19 Nov 07 by GCOG in their 10QSB below:
http://yahoo.brand.edgar-online.com/fetchFilingFrameset.aspx?dcn=0000909012-07-001444&Type=HTML

Below is a 10QSB filed by USEG on 14 Nov 07 which trades on the NASDAQ at $4.80 per share. Please read a key portion in which I think refers to GCOG under Note 22:
http://yahoo.brand.edgar-online.com/fetchFilingFrameset.aspx?dcn=0000101594-07-000226&Type=HTML

…22) Oil and Gas Exploration Activities

U.S. Energy Corp. has signed an Exploration and Area of Mutual Interest agreement with a Gulf Coast (United States) oil and gas exploration and production company. U.S. Energy Corp. anticipates it will participate as a 20% working interest partner in potentially numerous wells that could be drilled over the next three to five years. Approximately $3 million has been paid under the agreement to date. Two prospects have already been leased, and exploration and development activities are expected to commence in the later part of the fourth quarter 2007 or the first quarter of 2008. …



That portion above was also PR-ed by USEG on 30 Oct 07:
http://biz.yahoo.com/prnews/071030/latu137.html?.v=62

It’s also filed under Section 8 of the USEG Form 8-K filed with the SEC on 28 Jun 07:
http://www.secinfo.com/d336w.u4r.htm#1stPage

I am expecting a phone call from GCOG and Mark Larsen who is the President of USEG which trades at $4.80 on the NASDAQ to see what all I can confirm:
http://finance.yahoo.com/q/pr?s=USEG

The name of GCOG is "Gulf Coast Oil and Gas" and would not have been filed and PR-ed as such by USEG if it was not referring to a company. I could be wrong as I have seen stranger things, but the name should have been more generic in terms without capitalizing any of the words.

From Note 4 of the GCOG filing, GCOG also paid off their $1 million in Convertible Debentures (plus interest) they had with Cornell to rid them. They actually gave them a total of $1,302,720 to pay them off.

Cornell then received warrants to purchase 30,000,000 Shares at the prices below:
1st Option = Warrant to purchase 7,500,000 shares at $0.02 per share.
2nd Option = Warrant to purchase 7,500,000 shares at $0.03 per share.
3rd Option = Warrants to purchase 5,000,000 shares at $0.04 per share.
4th Option = Warrants to purchase 5,000,000 shares at $0.05 per share.
5th Option = Warrants to purchase 5,000,000 shares at $0.06 per share.

With considering that GCOG has paid off Cornell and Cornell in return wanted an option to buy shares at such prices in the pennies is a sign that Cornell believes that they are expecting something big to transpire. Cornell believes that buying GCOG at .02, .03, .04, .05, and .06 per share is buying shares of GCOG at a discount and not at a premium.

I’m hearing news as that any deal with USEG might not matter if it is true or not. Please, I recommend all to do their own DD to confirm any of the above as I am still currently doing. The above are thoughts I derived as a possibility as to what might be potentially in the works.

v/r
Sterling

SEE MESSAGE #msg-24886983 POTENTIAL GCOG