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Baseline Oil & Gas Corp (BOGAQ)

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Last Post: 9/30/2009 10:43:58 PM - Followers: 5 - Board type: Free - Posts Today: 0

Baseline Oil & Gas Corp. (OTCBB: BOGA) is an independent oil and gas exploration and development company with three core properties which provide a very balanced reserve mix (50% oil, 50% natural gas): a 95%+ operated working interest in the Blessing Field, located in Matagorda County, Texas, a 100% operated working interest in a 4,600 acre waterflood located in the Stephens County, Texas Eliasville Field, and an 18%-19% non-operated net interest in leases covering approximately 171,000 gross acres in the New Albany Shale play located in the Illinois Basin of southern Indiana. The Blessing Field, acquired by Baseline in October 2007, is located in Matagorda County, Texas. The Field area has produced extensively from normally pressured Upper Frio sands since the 1930s. Since 2004, the prior operator drilled and completed 12 wells as producers, representing a 100% success rate. Production established in 5 different fault blocks, with proved and probable reserves in 21 horizons, will serve to ameliorate drilling risk, and add production and reserves at a relatively low incremental cost. Such development will consist of low risk recompletions targeting uphole proved non producing (PDNP) reserves. Management has identified 88 PDNP drilling and workover opportunities, and expects to drill 4 to 6 such locations per year, providing a multi-year drilling inventory. The Eliasville Field, acquired by Baseline in April 2007, is located in north Texas, and consists of a 100% working interest (81% net revenue interest) on a contiguous 4,600 acre waterflood. The entirety of current production and proved reserves are contained within the existing producing Caddo Lime formation, located at a depth of approximately 3,300 feet. Of the total 4,600 acres, the central and eastern 2,800 acres are under existing waterflood while the western 1,800 acres have yet to be extensively developed. While extensive low risk development drilling is proceeding, Baseline will be evaluating and finalizing further development plans for the significant expansion of the waterflood to the western leases, which are presently producing oil from the Caddo Lime, but not presently under waterflood. Management believes that this western expansion could add up to 2.0 MMbbls of incremental proved reserves. Management believes that there is natural gas production potential from bypassed shallower zones in both the Marble Falls and Duffer formations, which produce natural gas at depths of 3,200 to 3,400 feet, south and east of our property and into the Palo Pinto County. The Barnett Shale is also present on our property at approximately 4,900 feet, but has not been produced to date, although it has been produced in Palo Pinto County. In addition, the Caddo Lime is an excellent candidate for an alkaline surfactant polymer (ASP) flood. This proven tertiary recovery technique will be evaluated for application, which management believes has the potential for incremental recovery of up to 10% of original oil in place (OOIP), or some 9.0 MMbbls, which is not currently booked. The New Albany Shale formation, which has been producing natural gas since 1858, consists of organic-rich brownish-black shale and greenish-gray shale that is exposed along the Ohio River at New Albany, Indiana. The shale is present in the subsurface throughout much of the approximately 60,000 square miles comprising the Illinois Basin, which stretches from southwestern Indiana into western Kentucky. In some respects, the New Albany Shale is reminiscent of the early days of the Barnett Shale play located in the northern Texas Fort Worth Basin. Baseline Oil & Gas Corp. believes the New Albany Shale resource play could contain significant natural gas reserves, which can be recovered more easily now that the historic problem of water disposal in the early stages of drilling has been resolved by new technologies. There is presently burgeoning interest in the New Albany Shale play, as evidenced by the recent entry into the basin by such companies as Chesapeake Energy Corp., Pogo Producing, Forest Oil Corp., Hunt Petroleum, Samson Energy, CDX Gas, Quicksilver Resources, Carrizo Oil & Gas, and Meridian Resource Corp. Management of Baseline has a clear objective to grow Baseline organically as well as through accretive acquisitions and/or joint drilling ventures. Baseline Oil & Gas is located in Houston, Texas. Baseline Oil & Gas Corp. 411 N. Sam Houston Parkway East Suite 300 Houston, TX 77060 Phone: 281-591-6100 Fax: 281-591-6101 Web Site: http://www.baselineoil.com Shares Outstanding: 34.46M Float: 19.90M 52-Week High (15-Aug-07)3: 0.75 52-Week Low (13-May-08)3: 0.04 50-Day Moving Average3: 0.40 200-Day Moving Average3: 0.38 Revenue (ttm): 22.87M Revenue Per Share (ttm): 0.686 Qtrly Revenue Growth (yoy): N/A Gross Profit (ttm): 6.46M EBITDA (ttm): N/A Net Income Avl to Common (ttm): -15.78M Diluted EPS (ttm): -0.47 Total Cash (mrq): 21.21M Total Cash Per Share (mrq): 0.615 Total Debt (mrq): 160.96M Total Debt/Equity (mrq): N/A Current Ratio (mrq): 1.171 Book Value Per Share (mrq): -0.457 Cash Flow Statement Operating Cash Flow (ttm): 12.27M Levered Free Cash Flow (ttm): -114.63M
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PostSubject
#96   Unfortunately if you didn t sell today, your money mkinhaw 09/30/09 10:43:57 PM
#95   SECURITY DELETIONS Estrella 09/30/09 02:58:50 PM
#94   Welcome! hate it when anyone loses hard earned $$$ mkinhaw 09/30/09 02:54:07 PM
#93   If you are in this mkinhaw 09/30/09 02:18:31 PM
#92   All the common shares will be canceled at Value_Investor 09/30/09 01:41:40 PM
#91   Shares will be cxld tomorrow mkinhaw 09/30/09 01:40:07 PM
#90   BOGAQ @ .0095! Estrella 09/30/09 10:40:23 AM
#89   BOGAQ @ .009! Estrella 09/30/09 10:28:29 AM
#88   oh i hear you:0) reesie 09/30/09 10:06:53 AM
#87   Hey!!! Reesie, read post #34 before you give Lobo79 09/30/09 10:04:55 AM
#86   NO IT NOT!!! reesie 09/30/09 09:56:53 AM
#85   All the common shares will be canceled within Value_Investor 09/30/09 09:05:07 AM
#84   NEW BOGAQ news akitpro 09/30/09 08:10:40 AM
#83   never got the fill...cancelled after waitin bought kittycattttt 09/29/09 08:36:34 PM
#82   BOGAQ was .22 cents this year! Estrella 09/29/09 08:31:40 PM
#81   ur funny, have an buy for .004 kittycattttt 09/29/09 01:03:01 PM
#80   interesting, no reason for this I can find learning as I go 09/29/09 12:19:39 PM
#79   BOGAQ @ .008! Estrella 09/29/09 11:58:54 AM
#78   BOGAQ @ .006! Estrella 09/29/09 11:46:31 AM
#77   BOGAQ @ .005! Estrella 09/29/09 11:46:15 AM
#76   0.003 x 0.0036. The new 52-week low 0.003 Value_Investor 09/28/09 01:18:04 PM
#75   0.0031 x 0.0036 now. It seems the new Value_Investor 09/28/09 10:37:23 AM
#74   BOGAQ @ .004! Estrella 09/27/09 08:10:59 AM
#73   0.003 x 0.004. Another new low 0.002 will Value_Investor 09/25/09 10:02:15 AM
#72   New 52-week low 0.0031 was created today! Sell Value_Investor 09/24/09 02:03:41 PM
#71   Looking good...eom chartman2000 08/21/08 09:56:48 AM
#70   agreed Fedex11 © 06/18/08 05:01:10 PM
#69   Dutton is the only one covering this stock.... analogdog 06/09/08 12:22:12 AM
#68   NOTICE OF ANNUAL MEETING OF STOCKHOLDERS analogdog 06/09/08 12:18:34 AM
#67   Dutton Associates Announces Investment Opinion: Baseline Oil & analogdog 06/09/08 12:13:12 AM
#66   charts. stockcharts.com/c-sc/sc?s=boga&p=D&yr=0&mn=6&dy=0&i=p418289687 analogdog 06/07/08 06:20:05 PM
#65   no posts in 6 months? analogdog 06/07/08 06:19:30 PM
#64   needs updates. analogdog 06/07/08 06:19:16 PM
#63   any action here? analogdog 06/07/08 06:18:49 PM
#62   dutton just gave this company a buy rating Med.rare 11/30/07 01:45:53 PM
#61   yeah right, this co is a POS anderbest18 06/28/07 01:25:18 PM
#60   BOGA moving big ,up all week, something is 06mets 06/28/07 10:10:51 AM
#59   gonna crank up the pr campaigns real soon,good 06mets 06/07/07 03:02:19 PM
#58   sure is quiet here. Nordic Viking 05/22/07 10:45:49 AM
#57   Im waiting for some more funds to settle Billmoneyi 05/03/07 06:36:41 PM
#56   thanks bud. BOGA, we are in accumulation time hinchback 05/03/07 06:19:52 PM
#55   Nice Board hinch! Billmoneyi 05/02/07 09:04:08 PM
#54   take care hinchback 05/02/07 08:54:40 PM
#53   Dang, thats good stuff. Thanks pile-O-profit 05/01/07 10:22:22 PM
#52   hinch, i may not be too much help DDareDDevil 04/30/07 05:35:27 PM
#51   good job thanks hinchback 04/30/07 03:21:07 PM
#50   I made some updates to the Ibox, see DDareDDevil 04/29/07 10:00:02 PM
#48   Just curious guys, any one you have any Nordic Viking 04/24/07 12:31:08 PM
#47   BOGA, where are the sellers? hinchback 04/20/07 01:37:22 PM
#45   MMs out of shares. BOGA is going to explode! hinchback 04/19/07 03:55:31 PM
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