Stock O'holics Investing University

[mick]

#1- wgas profiling;

1.Drive Bottom-Line Profit

http://wenergyinc.com/investor-relations/strategy/

•Focus on EBITDA
•Control costs
•Deliver strong return to shareholders

2.The Worthington Energy management team is aligned in vision and practice. Our vast experience and knowledge enables us to deliver results. Our business approach is succinct and clear:

3.SEC Filings
http://wenergyinc.com/investor-relations/sec-filings/
8-K – Current report June 15, 2012
Filed: 2012-06-15 AccNo: 0001096906-12-001690 Size: 21 KB Item 2.04: Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement

10-Q – Quarterly report [Sections 13 or 15(d)] May 15, 2012
Filed: 2012-05-15 AccNo: 0001096906-12-001419 Size: 2 MB


4.VM 179, 70% Working Interest, Net Revenue Interest 51%.

http://wenergyinc.com/investor-relations/current-assets/

This is a 547 acre offshore block, located in the Louisiana portion of the Gulf of Mexico, in around 70-72 feet of water. The well’s site is adjacent to the Exxon producing lease VM 164. It has proven reserves of 0.582mm bbl oil and 1BCF gas (pv-10 $80M). The Company proposes to drill a 7,400 feet vertical well in Q4, post Hurricane season, with anticipated flow rate of 2,500 bbl / pd.

I-1 well, Block 818-L, Carried Interest 10.35%

This is located near Mustang Island, Kleburg County, Texas. The Company owns a 10.35% carried interest in this well: 8.35% Carried Interest with a 2% Over Riding Royalty Interest over the entire 818-L block. The well is anticipated to be on line by mid-July 2012. The well has a minimum of 5 productive zones throughout the entire well bore and initial production will be from the I-5 sands with perforation between 11,118 and 11,124 feet.


The Company is in progress of closing the following assets:

D-Bar, 100% Working Interest/Well, Net Revenue Interest/Well 80-85%

This asset is located in the Abilene, Texas area. The Company has executed a Purchase and Sales Agreement (PSA) to acquire 9 shallow oil wells, plus to further drill 5 water injection wells. Along with this, various leases and associated infrastructure owned by D-Bar.

Phase 1 will consist of the workover of the 9 shallow oil wells in various formations, with a potential combined production rate of 150-200 bbl/pd.

Phase 2 will comprise the development of the entire 3,000 acre position, over 12 leases, with potential towards a 70-90 well workover program. This will include the development of Proven Undeveloped (PUD) locations. The Working Interest per well will be 100% with a Net Revenue Interest per well of between 80 and 85%.

South Texas

The Company is in the final stages of acquiring a producing property in South Texas. The initial plan is to work over 7 existing wells, with a projected cumulative flow rate of 150-175bbl/pd.

After the 7 well workover, the Company will conduct a detailed review of a 5 square mile, 3D seismic data package, to minimally drill 17 PUD locations.

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News;
http://wenergyinc.com/news/

Worthington Energy Moves Forward on Platform Launch
[Marketwire] – SAN FRANCISCO, CA– – Worthington Energy, Inc. , an energy turnaround company engaged in the acquisition, exploration, development and drilling of oil and natural gas properties, takes this opportunity …

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published: 6/19/12
source: Yahoo! Finance: WGAS News

| Read Post WORTHINGTON ENERGY, INC. Files SEC form 8-K, Triggering Events That Accelerate or Increase a Direct Financial Obligat
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published: 6/15/12
source: Yahoo! Finance: WGAS News

| Read Post Keynote Speaker Announced for RedChip Small-Cap Virtual Conference
[GlobeNewswire] – ORLANDO, Fla. — RedChip Companies, Inc. (“RedChip”), an international, small-cap research and financial public relations firm, today announced that Jim Schnorf, President and Chief Financial …

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published: 6/11/12
source: Yahoo! Finance: WGAS News