New Century Energy Corp (NCRE)

[Trueheart]

I just spoke with DeStefano. The company continues to be in bankrupty. He thought he had a deal done but one of the creditors balked so they're still in negotiations.

I asked him if the shareholders are likely to survive and he would not say yea or nay. He said the question depends on the outcome of the BK proceedings. (This is like chasing one's tail)

There will be a 10K issued in 2-3 weeks that will discuss the status of the bankruptcy. He said that oil production continues and will be discussed in the 10K.

Trueheart