Bayou City Exploration, Inc. (fka BYCX)

[sidedraft]

Read the paragraphs following this:

NOTICE OF ACTIONS TAKEN BY WRITTEN CONSENT OF MAJORITY OF STOCKHOLDERS

http://edgar.sec.gov/Archives/edgar/data/1050957/000101968714000477/bayou_def14c.htm

[heavenlystars]

when they go private will people that are invested remain invested,until they cash out

[sidedraft]

Now, going private:

03/11/2014 12:17:49|D||BYCX||Bayou City Exploration, Inc. Common Stock|03/11/2014|Company Going Private 1-20,000 R/S followed by a 20,000-1 F/S with cash out of $1.43 per share. Deletion time: 11:54:58 **|||u|Y|100|Y

http://www.otcbb.com/dailylist/txthistory/BB03112014.txt

[Renee]

BYCX one for 100 reverse split:

http://www.otcbb.com/asp/dailylist_detail.asp?d=07/25/2012&mkt_ctg=NON-OTCBB

[OilStockReport]

Income statement


http://finance.yahoo.com/q/is?s=bycx.ob

[OilStockReport]

Most recent 10-Q

http://biz.yahoo.com/e/110812/bycx.ob10-q.html

[OilStockReport]

Good point.

[ChitForBrains]

Seems to be too risky without some kind of plan for expansion either by drilling existing or adding more leases.

You're right, I went to a board I manage and there is no way to access that area. Wow! Guess IHub did it long ago and they'll have to fix it.

[OilStockReport]

They do have pretty small assets. Think it compromises the stock?

Also, I'm not sure how to change that link at the bottom. Any suggestions?

[ChitForBrains]

Something could be up, someone flopped down $2500 for 50K shares today.... http://www.bcexploration.com/portfolio.htm .

I've had a hard time considering any purchase at these high prices for such small assets.

Also, the bottom of a page has blueridgeenergies instead of bcexploration.com somewhere here on Ihub, http://ih.advfn.com/p.php?pid=squote&symbol=BYCX at the end of the page (Company Description)

[OilStockReport]

I agree with you on that. Have you heard any updates lately?

[oilin07]

This looks like a solid company. I got impatient a few weeks back and sold for a small profit at .075. If I can get .04's I think I'll get back in. Regardless this would be a solid longterm hold in my opinion.

[OilStockReport]

Heard any recent news on this one?

[OilStockReport]

You can find the 2 week forecast here.

http://reports.finance.yahoo.com/w0?r=35653400:1

[jmurfk]

From the 10K:
Present Activities.

Two partnerships managed by the Company drilled one well in 2011. Post drill analysis was favorable and the well is currently being completed as March 30, 2011.

[oilin07]

Yes, great read with many good points.

[jmurfk]

I think so. Did you see this?

http://hubpages.com/hub/TopOilPennyStockPick2011BayouCityExplorationSymbolBYCX

[oilin07]

An insider Burr Robert purchased a total of 3.6384M shares on 12/21/2010. I'm assuming he expects this year to be a good one.

[oilin07]

I agree, thats what I will do here.

[jmurfk]

You are about the same average as me. We should see some gains on this one. These positive earners just take a little time. Key is to get several of them and bid sit to accumulate. They mostly all run at some point when they have the earnings.

[oilin07]

I completely agree, but I just think apcx is a different kind of investment. I purchased 15 thousand shares of bycx at .06 and .056 for starts.

[jmurfk]

See what I mean. 29 mil OS, .02 EPS on their just released 10K, and trading at .056.

[oilin07]

This looks good.

[AliAngel]

Yes i still have tenk of these but Amturd maid me cal them in then.
Anyone know if it is still on call in with the turd am?

[eom7]

Bayou City, the first in North America to work with ffA (Foster Findlay Associates),in applying its image processing technology, continues to expand its use of ffA's 3D Image Processing and Analysis ("IPA") technology. IPA extracts geological information from seismic data objectively, reliably and rapidly to accelerate and improve the quality of critical path E&P processes such as seismic interpretation, geological modelling and well planning. ffA technology enables Bayou City to rapidly identify prospective acreage, lease ahead of competitors, improve delineation and de-risking of prospects and enhanced prospect marketing to drilling investors, and increased drilling success.

Bayou City further reviews leads using Fairfield Industries cutting edge software for AVO, time-depth-migration, zero phase adjustments, instantaneous Amplitude and Amplitude Envelope to take leads into prospects.

Bayou City intends to accelerate the generation of high quality prospects from its extensive data library. The Company's large and continually growing database of approximately 7,500 square miles of 3-D data is centered principally in its focus area. Bayou City also has an additional 20,000 square miles of 2-D data.

[jmurfk]

My Top Penny Stock Pick for 2011- Bayou City Exploration
http://hubpages.com/hub/TopOilPennyStockPick2011BayouCityExplorationSymbolBYCX


That is a nice read. Folks should start to give this a little more attention. Some good info in that 10K.

[eom7]

I hope we get an update on those 2 wells!

[OilStockReport]

Here is BYCX's annual report they put out.

http://biz.yahoo.com/e/110415/bycx.ob10-k.html

[eom7]

Wow... always good to have you around eik.

[eik]

I don't see this posted here before (maybe missed):
My Top Penny Stock Pick for 2011- Bayou City Exploration
http://hubpages.com/hub/TopOilPennyStockPick2011BayouCityExplorationSymbolBYCX

Worth a reading. Not sure what today's sell off is about, but I really like this stock based on risk/reward ratio. Entered with small position @0.055 today.

[Bane]

[jmurfk]

Yep, that's what I got too.

[eom7]

Nice web site:

http://www.bcexploration.com/index.php


ASSETS

The following assets represent just the beginning of Bayou City’s future revenue stream. Charlie Bukowski, President of Bayou City, has chosen a philosophy of growth that allows for outstanding risk mitigation for the company’s stockholders by maintaining/investing in minority, non-operated positions in several wells as opposed to investing large amounts into fewer wells. This philosophy allows for participation in several fields, opening the door for field development in the event a successful well creates additional drilling opportunity, and, protects the operating cash flow by reducing the “inherent risks” associated with oil and gas exploration.

As growth and revenue increase in the future, Bayou City will continue to maintain the minority ownership philosophy, keeping all well ownership under 50 percent and increasing the number of projects in which we participate.

For exact ownership and productions information, please refer to Bayou City’s 10-K or 10-Q as reported to the Securities Exchange Commission. The information is available at www.sec.gov or on our Investor Relations page.

SEISMIC DATA

Bayou City owns a database of more than 7,200 square miles of 3-D data, as well as 13,000 miles of 2-D data.

KEY DEVELOPED PROPERTIES

Rooke # 1
The Company owns a minority interest in 1 well located in Refugio County Texas which began production in September 2009. The well produces about 350 Mcf per day and about 10 Bbls of oil per day.
Chapman No. 75-1
The Company owns a minority interest in 1 well located in Nueces County, Texas which began production in October 2009. The well produces about 375 Mcf per day.
Garcitas #1
The Company owns a minority interest in 1 well located in Jackson & Victoria County, Texas. The well has been drilled and was completed during the first quarter of 2010. There has been minimal production thus far from this well, but is expected to have stable production during the second quarter of 2010.
Rooke B-1
The Company owns a minority interest in 1 well located in Refugio County, Texas. The well has been drilled and was completed in early 2010.
Rooke #2
The Company owns a 9.5% working interest in 1 well located in Refugio County Texas. This well has been completed during the first quarter of 2010 and has had minimal production during the first quarter. Production is expected to become stable during the second quarter of 2010.

[eom7]

Selling may have to do w/ this former director: http://ih.advfn.com/p.php?pid=nmona&article=45875459

[eom7]

Got starter 10K looks good!

[jmurfk]

10K is out and looks decent. .02 EPS on the year.

[OilStockReport]

Is that an upward trend I see?

[OilStockReport]

This little gem seems to be stewing waiting for the next development to give it some traction. Could be attractive here if we get anything interesting.

[swanlinbar]

Ok tks, have them on watch!

[OilStockReport]

I haven't been able to dive into the materials as much as I wanted to lately. My guy is positive on the outlook so happy to be positioned but still cautious on mid to long term potential.

[swanlinbar]

Any new info on them? Tks

[OilStockReport]

I was talking with another investor here last week and it seems to us these guys are no nonsense type of guys and may have what it takes to move this to the next level. I am going to see what kind of information I can get from the company on the prospects from 2011.

Charles T. Bukowski
President and Chief Executive Officer

Mr. Bukowski graduated from Texas A&M University with a Bachelor’s degree in 1982 and a Master’s degree in 1984 (4.0 GPA), both in geology. The next 12 years he was employed as a geologist with Mobil Oil working a variety of both exploration and production assignments including South Texas, East Texas, Oklahoma, South Louisiana, and Mississippi. While at Mobil he generated and drilled over 100 wells, including the first horizontal well in Lavaca County. Mr. Bukowski was the first geologist at Mobil in Houston to do both the geological and 3D seismic interpretations for his projects.

In 1996, Mr. Bukowski joined Edge Petroleum where he utilized 3D seismic, advanced AVO processing and advanced interpretation software to lead a team that drilled 23 successful wells. He co-authored the first published successful use of AVO in South Texas and the resulting paper won several industry awards including SEG’s Best Paper Award in 2001. While at Edge he interpreted over 800 sq. miles of 3D seismic data, mostly in South Texas and South Louisiana.

In 2000, Mr. Bukowski joined Alta Resources as Exploration Manager. While at Alta he acquired more 3D’s and drilled numerous successful wells making five new field discoveries. In fact, he never drilled a dry hole while at Alta. Alta’s five person team gained early entry into the Fayetteville Shale play in Arkansas resulting in a bonanza for the company. After leasing approximately 45,000 acres and drilling only twelve wells, Alta sold its holdings for $560,000,000.

Mr. Bukowski left Alta in 2007 to start Beachcomber Oil and Gas Inc. where he generated exploration projects and consulted for industry partners.

Mr. Bukowski has enjoyed a drilling success rate of well over 80% during his 25 year career. He currently has an interest in over 350 producing wells that have reserves of over 800 Billion cubic feet of gas. The use of 3D seismic, AVO, other seismic attributes and fully integrating the geophysics, geology and engineering data have been the keys to his success.

Stephen C. Larkin
Chief Financial Officer

Mr. Larkin was appointed CFO in January 2010 and is currently Chief Financial Officer of Blue Ridge Group, Inc. Prior to joining Blue Ridge Group, Inc. Mr. Larkin spent 10 years as President & CEO of Sensus Precision Die Casting, Inc. and President, CEO and Chairman of the Board Sensus Rongtai (Yangzhou) Precision Die Casting, Ltd. (a Chinese subsidiary of Sensus Precision Die Casting, Inc.).

Mr. Larkin spent a total of 21 years with Sensus Metering Systems, Inc. (parent company to Sensus Precision Die Casting, Inc.) in positions ranging from Controller & CFO of one of their divisions (for seven years), to Vice President of Operations (for four years) then finally with Sensus Precision Die Casting Company as their President and CEO. Prior to that Mr. Larkin spent almost six years with Ernst and Young CPA’s both in the Lansing Michigan office and the Tampa Florida office and held the position of Senior Manager-Auditing when he left.

Mr. Larkin earned a B.A. Degree from Michigan State University in Accounting in 1981, an MBA Degree from Michigan State University in Operations Management in 1989 and an Executive MBA from the University of New Hampshire in International Business in 1997. Mr. Larkin also passed the CPA exam in May 1982 and was granted a CPA license in May 1982 in the State of Florida.

[OilStockReport]

Comparison of Nine Month Periods Ended September 30, 2010 and September 30, 2009


The Company had a net income of $870,292 during the nine months ended September 30, 2010 compared to approximately $827,036 for the same period in 2009. The net income per common share was $0.03 per share for the nine months ended September 30, 2010 and September 30, 2009.


The increase in net income for the nine months ended September 30, 2010 over the same period for 2009 was due to a number of factors. First, the Company sold its intrest in the Sein #1 well in March of 2010, recognizing a gain of $1,000,000, which was offset by the fact that the Company no longer receives net revenue from the well. In addition, the Company collected approximately $151,000 of previously written off receivables in the first nine months of 2009 and negotiated forgiveness of debt with creditors of approximately $167,000 in the first nine months of 2009, whereas, the Company had only $10,000 in collections of previously written off receivables in 2010 and no forgiveness of debt in 2010.

[OilStockReport]

Description of Properties

The following are the primary properties held by the Company as of September 30, 2010:

Key Developed Properties

Rooke #1 well: The Company owns a 9.5% working interest in 1 well located in Refugio County Texas which began production in September 2009. During the third quarter of 2010, well production averaged approximately 525 Mcf per day and 15 Bbls per day.

Chapman No. 75-1 well: The Company owns an 8% working interest in 1 well located in Nueces County, Texas which began production in October 2009. During the third quarter of 2010, this well produced about 271 Mcf per day.

Garcitas #1 well: The Company owns a 9.5% working interest in 1 well located in Jackson & Victoria County, Texas. The well has been drilled and was completed during the first quarter of 2010. Production began during the third quarter of 2010 and produced approximately 13 Bbls per day.

Rooke B-1 well: The Company owns a 9.5% working interest in 1 well located in Refugio County, Texas. The well has been drilled and was completed in early 2010. It started producing in early February 2010 and during the third quarter produced about 546 Mcf per day and about 10 Bbls of oil per day.

Rooke #2 well: The Company owns a 9.5% working interest in 1 well located in Refugio County Texas. This well was completed during the first quarter of 2010 and production began to stabilize in mid April. During the third quarter of 2010, the well produced approximately 322 Mcf per day and 41 Bbls of oil per day.

[OilStockReport]

Overview


Bayou City Exploration, Inc., (the “Company”), a Nevada corporation, was organized in November 1994, as Gem Source, Incorporated (“Gem Source”), and subsequently changed the name to Blue Ridge Energy, Inc. in May 1996. In September 2005, the Company changed its name to Bayou City Exploration, Inc. The Company’s corporate headquarters are located at 632 Adams Street, Suite 700, Bowling Green, Kentucky 42101.


The Company is engaged in the oil and gas business, primarily in the gulf coast of Texas, east Texas, south Texas, and Louisiana. The wells drilled by the Company include both exploratory and development wells. During 2010, the Company refocused its business from the development of oil and gas prospects to the management of oil and gas drilling programs. The Company currently sponsors oil and gas drilling programs, for which it serves as managing general partner. It also owns working interest in various oil and gas properties both within these oil and gas drilling programs and outside the programs.


Prior to fiscal 2010, the Company generated a substantial portion of its revenues from its ownership of a royalty interest in the Sein #1 well, which was sold to related parties in late December 2009 and March 2010 for total consideration of $1,000,000. As a result of this sale, the Company’s revenues from royalties during fiscal 2010 substantially decreased from revenues generated during the same periods of fiscal 2009.


As of September 30, 2010, the Company had total assets of $887,000, total liabilities of $209,000 and a stockholders’ equity of approximately $677,000. The Company had a net loss of approximately $60,000 for the three months ended September 30, 2010 compared to net income of approximately $149,000 during the three months ended September 30, 2009. The net loss per common share was ($0.00) per share during the three months ended September 30, 2010 as compared to net income per common share of $0.01 during the same period in 2009. All per share data in this report has been adjusted to give effect to applicable stock issues and conversions.


All of the Company’s periodic report filings with the SEC pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934, as amended, are available through the SEC web site located at www.sec.gov, including our annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and any amendments to those reports. The Company will also make available to any stockholder, without charge, copies of its Annual Report on Form 10-K as filed with the SEC and a copy of its Code of Ethics. For copies of this, or any other filings, please contact: Stephen C. Larkin at Bayou City Exploration, Inc., 632 Adams Street — Suite 700, Bowling Green, KY 42101 or call [phone] begin_of_the_skype_highlighting [phone] end_of_the_skype_highlighting.

[OilStockReport]

I am more interested in the oil projects here then the stock but it does appear they have decent revenues from oil production based on what I read in the filing?

The net income per common share was $0.04 per share during the three months ended March 31, 2010

[techlover]

Yes, it was a big massacre. Their goal of acquiring old wells and using new technology to get more oil out fell flat as the Kansas prairie! I have been watching the PPS for quite some time and I don't believe it will ever reach a dime again. If it would just rise enough to pay the damn commission on 50 shares, I would close the books on it. But that would mean it would have to reach about .18!

[OilStockReport]

That was quite a massacre back then. The company seems to have a story here but the market doesn't reflect any of it.

[techlover]

I bought this in 2006 when it was over $2.00 a share. I still own 50 shares of the junk. I would advise you to RUN FOR THE HILLS!

[OilStockReport]

A little bit of liquidity and this could become a really opportunity in 2011.