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My pick is MKGP -
This undiscovered 3 cent profitable oil stock has only 31 million float and just under 128 million O/S and issued. Though MKGP has 4 gas wells in West Virginia that investors know about, most of their revenue is generated through their 11.517% ownership of a private company called Z2, the owner of the Big Foot Field in Texas. The big thing in the pipes is they have an open option to purchase another 13.184% in Z2 by Jan 17th. Z2 recently attained $40 million in credit to continue to redevelop the existing 300 oil wells on this property and to spud more proven wells. What this means is Maverick owns a portion of Z2 and has the option to increase it's ownership to 24.7% by Jan 17th. Z2 has the cash available to redevelop and drill more wells while MKGP, an owner of Z2, just collects on the profits at what appears to be no cost or risk to them or the shareholders in the way of dilution or convertible financing since MKGP is not the one paying the bill. Sweet Deal, huh? Bottom line is the growth across 2007 has huge potential just through Z2 and yet they plan to drill many more gas wells on their proven leases in West Virginia where they currently hold a 25% interest. I think this one has the opportunity to become the largest gainer during 2007 in the oil and gas micro sector.
Brad
Description of Business
Maverick Energy Group, Ltd is the operator of the “Big Foot Field” in West Texas originally developed by Royal Dutch Shell (RDS-A) and recently valued at approximately $19 million. It has approximately 300 wells in the field of which approximately 240 are presently revenue producing.
Maverick owns an 11.517% membership interest in Z2, the owner of the Big Foot Field, and currently holds an option to acquire an additional 13.184% membership interest in Z2. If it were to exercise this option, Maverick’s membership interest in Z2 would increase to approximately 24.7%. Maverick’s option exercise price is $750,000 and may be exercised at any time through January 17th, 2007. The President of Maverick also serves as the Chief Financial Officer of Z2, LLC. Maverick is also the proprietary owner and operator of several producing natural gas fields and owns approximately 50 additional natural gas leases in West Virginia.
Recent Items of Interest:
September 25, 2006
According to Z2's most recent engineering report, the estimated future net revenue from the producing properties may be in excess of $38,000,000 and the estimated future net revenue from the Proven Undeveloped Properties (PUDS) yet to be drilled could be in excess of $353,000,000. Z2 announced the closing of a $40,000,000 Advancing Credit Facility with Gasrock, LLC of Houston, Texas on August 25th, 2006. This financing will permit Z2 to further exploit its Big Foot Field holdings in Texas. The financing will be utilized to rework producing wells which are currently not producing and to begin a drilling program on a portion of the 200 proven undeveloped locations contained in Z2's engineering report dated January 1st, 2006.
http://tinyurl.com/vqt2x
October12, 2006
Maverick Energy Group, a member of Z2, LLC, is pleased to announce the commencement of a 22-well workover program for Z2. The 22 workovers, as well as the drilling of 6 PUDs are part of the initial operations planned by Z2 with funding from the $40,000,000 Advancing Credit Facility which Z2 closed with Gasrock Capital, LLC the latter part of August, 2006. The first three workovers were completed and the preliminary results indicate an increase of 4 barrels per day per well. If all 22 workovers produce at the expected increase in barrels per day, the overall production in the field could increase by in excess of 20%.
http://biz.yahoo.com/iw/061012/0172025.html
October 11, 2006
A Must Read Research Report Attached
http://tinyurl.com/uxscz
For The Skeptic
Maverick Operates The Big Foot Field
Scroll down to the Big Foot Field to find Maverick as the operator of 303 listed wells.
http://tinyurl.com/ymrkoq
Z2 LLC Does Exist
http://tinyurl.com/y9shgh
Z2 $40 Million Finance Verification
http://www.gasrockcapital.com/portfolio.htm
One of Our Joint Venture Partners
http://biz.yahoo.com/pz/060503/98417.html
Current Share Count Information:
Authorized Shares............................... 500,000,000 as of 2006/06/30
Issued and Outstanding........................127,914,189 (Confirmed with T/A 12/11/06)
Restricted Shares.................................96,585,543 (Confirmed with T/A 12/11/06)
Float................................................... 31,328,646 (Confirmed with T/A 12/11/06)
Insider Holdings as of 8/31/2006
CEO - James McCabe..............................44,211,243
President - Richard Bednar.......................12,344,400
Business & Financial Consultants.............15,438,039 (Richard Bednar is Managing Director)
CFO Brice Bogle.......................................7,125,000
I/R Christiane Lopez.....................................600,000
http://tinyurl.com/yzkaqd
For the period ending September 30th 2006
1. Maverick saw an increase in Revenue of 25.6% from the previous Quarter.
2. Maverick saw an increase in Net Profit of 36.2% from the previous Quarter.
3. Maverick reduced Total Liabilities by 16.1% from the previous Quarter.
4. Maverick increased Stockholder Equity by 60.2% from the previous Quarter.
Financial Data From Quarter Ending June 30th 2006
Total Assets...........................$2,379,616
Total Liabilities........................$2,016,276
Stockholder Equity.....................$363,340
Total Revenue............................$934,589
Net Income................................$147,387
http://www.pinksheets.com/quote/finance.jsp?symbol=MKGP
Financial Data From Quarter Ending September 30th 2006
Total Assets...........................$2,276,952
Total Liabilities........................$1,691,760
Stockholder Equity.....................$582,192
Total Revenue............................$1,173,936
Net Income................................$200,752
http://www.pinksheets.com/quote/finance.jsp?symbol=MKGP
Website
http://www.maverickenergygroup.com
News Most Recent
http://icanco.maverickenergygroup.com
News Archive
http://www.maverickenergygroup.com/News.htm
Interview with CEO James McCabe 6/20/2006
http://www.mn1.com/members/modules.php?name=Downloads&d_op=getit&lid=54
Management Team Biography
http://www.maverickenergygroup.com/AboutUs.htm
My picks for 2007 are GCCP and MSEM chart here.
GCCP Triple bottom. Closed all time low.
MSEM just did a rs. Looking like 2004 again.
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