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Another E-mail from Bruce Scambler.
We will be pooling this (getting final completion on remaining leases)
10/10/2011, so operations will commence thereafter.
We have several similar prospects and the plan is to get these in production and
Let Bedford rise up on this tide of work
Bruce Scambler,
Chairman and CEO
Communication to me from Bruce Scambler, CEO of Contex Energy on 09/27/11
For your information this is the next prospect Bedford are
Going to operate. It is a horizontal, where we are looking at around $1.5M to drill and complete
And have engineering of around $12-14M for long term reserve production.
We have completed two wells close by and this is a
Larger prospect with plans to drill 2-3 horizontal wells.
If you have interest in being part of this we can
Give you a shareholder introduction and get you the
Friends (F&F) price.
Regards, and thankyou for your support of Bedford Energy.
Bruce Scambler,
Chairman and CEO
I recently E-mailed Bruce Scambler the CEO of Cantex energy atscambler@cantex.us regarding the status of Bedford energy. He mailed me back the following:
"Please call, it is a complex matter
Regards
Bruce Scambler,
Chairman and CEO
BRUCE SCAMBLER
CPA CFF MBA FCMA MHCIMA CASA
Chairman, CEO and "Wildcatter"
CanTex Energy Corp
(Ticker PK: CTXE)
Cell Phone 1 (405) 608 2700
scamblerbj@msn.com
bruce@cpataxcounselors.com
BEDFORD ENERGY INC.
(Ticker PK: BFDE)
6301 WATERFORD BLVD,
STE 403
OKLAHOMA CITY
OK. 73118
He advised that he and Harvey Bryant (ex Bedford CEO) were working on some prospects when Bryant's daughter was murdered in a house break in. Byrant had to retire to sort out his life.
It was difficult to ascertain exactly what the status of Bedford is. Maybe someone with more knowledge of the industry can get more information from Scrambler.
Scambler is currently working on some direct participations on some prospects that involve Ranger Energy. He is to E-mail me some information.
Tom Goodwin
Confirmation of BFDE Acquisition By CTXE
http://www.cantex.us/ourhistorytopresent.html
No details given.
Add'l on Intent To Drill
According to information available on the OCC (Okla. Corp. Commission) website, the intent to drill (ITD) for the Penn Can Tex No. 19-1H well involves the reopening of an abandoned well, the Merrick 19-0-1, which was plugged 5/26/11 "against the wishes of the working interest owners." No other information about this "against the wishes" factor was posted.
The OCC approval of the ITD stands as authorized and previously reported here.
Sale to CTXE Finalized?
Hmmmmm..... good point.
There's a hint at this site:
http://www.cantex.us/ourdirectors.html
Both Bryant and Swan were principals in Bedford.
This site shows a primary address in Oklahoma City the same as previously that of Bedford:
http://www.cantex.us/contactus.html
I can't find where the acquisition was ever finalized.
Tom
Bedford Energy (CTXE-Owned): Intent To Drill
From the 4/19/11 issue of the Tulsa World:
Intent To Drill:
Lincoln [County, OK]: Bedford Energy Inc., Penn Can Tex No. 19-1H Well, C SW/4 SW/4 SW/4 (SL) of 19-16N-02E, TD 6,550 feet.
Location is very near the Logan County (OK) line. On CanTex's website, there is a private link to production figures for Logan County.
CTXE acquired Bedford Energy (BFDE) some months ago.
Additional BFDE Lawsuit
I still have no further information about what is going on with these lawsuits, but continue to seek information.
From 12/16/10 Lincoln County [OK] News:
BFDE Lawsuit
12/2/10 Lincoln County [OK] News:
So it appears it is already getting but you haven't seen an update on it yet? Could get interesting.
Cantex HQ Address = Bedford's Old Address
CTXE PR's now show their HQ address is now the address formerly shown as Bedford Energy's address in Oklahoma City.
Cantex's previous HQ was shown as San Antonio.
It seems very odd that they wouldn't have any update on this yet?
This is an interesting strategy. What was the point of an acquisition did they want their projects or something?
On August 20, 2010 CanTex Energy Corp. (PINKSHEETS: CTXE) (Cusip 138116108) announced that it had entered into a letter of intent for the acquisition of Bedford Energy Inc. (PINKSHEETS: BFDE). The completion of the acquisition was anticipated before October 20, 2010. Is there any new information on the status of this acquisition? Did the acquisition occur, and what effects will it have on the stock?
PRESS RELEASE
Aug. 20, 2010, 3:05 p.m. EDT · Recommend · Post:
CanTex Energy Corp. Announces New Management and Letter of Intent to Acquire Bedford Energy Inc.
SAN ANTONIO, TX, Aug 20, 2010 (MARKETWIRE via COMTEX) -- CanTex Energy Corp. (PINKSHEETS: CTXE) (Cusip 138116108) is pleased to announce that it has entered into a letter of intent for the acquisition of Bedford Energy Inc. (PINKSHEETS: BFDE). The completion of the acquisition is anticipated to close before October 20, 2010. The Combined entities complement each other with the seismic skill base of CanTex fitting in with the drilling and operations of Bedford. After closing, the combined entities will have over 250,000 BOE in engineered proven oil and gas reserves behind pipe, and some 1,600,000 BOE in proven undeveloped.
The Company also announced that effective immediately, Bruce Scambler has been appointed to the Board of Directors and will serve as its Chairman and Company CEO. Harvey Bryant has also been added to the Board of Directors and will serve as the Company's President. Trace Maurin will continue on the Board and will serve as COO with current focus on the Texas Operations and Texas seismic exploration and lease prospect development.
Nature of Issuer's Business: CanTex Energy Corp. (the Company) is a development stage, independent natural gas and oil company engaged in the acquisition, exploration, and development of natural gas and oil properties in the United States and Canada.
Warren 1-14
The Okla. Corp. Commission (OCC) database shows no production figures for this well.
Given the delays in how current the OCC database is maintained, this might simply reflect their slowness to update, slow/no reporting by BFDE to the OCC, or low/no production at all. Bears watching, though.
When BFDE sold its East Chandler Field holdings to AOGN, part of the deal included stock in AOGN (see message 1229). AOGN stock price has tanked, as has its cash flow, from all indications on that discussion board. That can't be good for BFDE.
I called Bedford and they told me Warren is offline. I asked if they would be reporting a quarterly earnings for 2010 and they said that Warren would have to be online for them to report any kind of earnings.
And thanks to the BP disaster.. They are trying to pass some bill where they would raise the liability cap from 75 million to 10 billion which would put these "ma and pop" oil companies out of business. At least for offsore drilling.
If they can get Warren back online, maybe Bedford has a chance. I have to tell.... You can say what you want about Bedford. These guys don't give up...
any hope for this stock??
Attorney Letter is published to become Current on the Pink sheets.
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=30525
Update - Financial
https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=27096
Word on the street in Lincoln County
Seems Avalon's chief isn't seeing to it people are paid what they're owed, won't return calls, etc.
Some of Bedford's income is dependent on Avalon Oil (AOGN). Wonder if they're getting paid?
http://www.sec.gov/Archives/edgar/data/918573/000118518509000905/avalonoil10q063009.htm
The recent 10-Q filing by Avalon mentions Bedford several times in conjunction with the Grace Wells purchase. This is a later development:
"In April 2009, the Company and Bedford Energy, Inc. agreed to amend the Amended Bedford Agreement, the Company will
transfer to Bedford Energy a 2.25% carried interest in the Grace Wells #1, #2, #3 #5A, and #6 in exchange for cancellation of
the promissory note in the net amount of $390,000 plus accrued interest in the amount of $18,627."
So, it seems Bedford sold some interest in the Grace Wells for compensation which included a promissory note, then bought back some interest by canceling he note.
Since at least the Grace #2 is still producing, this should put a few coins in Bedford's coffers.
Just a quick note here. Yep I am one of the few still holding my shares at this whopping price. Worth too little now to even care about the stock. This is why I only now make it on here about once in every 3 months or so. But it does not look like I missing out on anything. Probably the most paibful thing with this stock is how little information we get from the company. More than likely this thing will eventually just bust. Really weird how it has not busted already and still seems to keep going.
Lawsuit Dismissed With Prejudice
Definition of "dismissed with prejudice":
http://wiki.answers.com/Q/What_is_Dismiss_with_Prejudice
So, no further lawsuit permitted with regards to this event, which has no doubt been at least a minor, if not major, distraction to BFDE.
Bedford Energy and Saber Industries L.P. Dismiss Lawsuits
OKLAHOMA CITY, OK, May 22, 2009 (MARKETWIRE via COMTEX) -- Bedford Energy (PINKSHEETS: BFDE) announces that the company and Saber Industries L.P. have dismissed with prejudice all claims and counterclaims of any kind against each party.
The claims resulted from the January 2007 blowout of the Grace #2 well located in the East Chandler Field in Lincoln County, OK.
For more detailed information on Bedford Energy please contact BFDE@bedfordenergyinc.com or visit www.bedfordenergyinc.com.
About Bedford Energy, Inc.
Bedford Energy, Inc. is a public company, trading under the symbol BFDE that is engaged in the exploration, development and exploitation of natural gas and oil properties in the mid-continent and gulf areas of the United States. Bedford strives to enhance investor value by expanding oil and natural gas reserves raising production levels and increasing cash flow. As always, Bedford intends to increase shareholder value through developmental drilling in proven producing areas.
SEC DISCLAIMER
Information contained herein may contain forward-looking statements which are not guarantees of future success or that there cannot be losses. The actual presence or recoverability of reserves for optimal and timely recovery, well costs or schedules or other matters cannot be promised. This release contains "Safe Harbor" provisions of the US Private Securities Litigation Reform Act of 1995 & involves risks and uncertainties, which could cause actual results to differ materially from those estimated herein. Bedford believes the forward-looking statements are based on current reasonable assumptions but can give no assurance that results will be achieved. Unpredictable & unanticipated risks, trends and uncertainties including inability to accurately forecast operating results; the potential inability to achieve profits or have cash flow; access to financing; and other must be understood. Bedford assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
Contact:
Bedford Energy, Inc.
6301 Waterford Blvd., Suite 403
Oklahoma City, OK 73118
Office: (405) 601-9745
http://www.bedfordenergyinc.com
Avalon continues workover of the East Chandler Field.
The results seem to be promising, but the stock price doesn't budge. Since the BFDE sale to Avalon included Avalon stock, this doesn't help BFDE much, I guess.
____________________________
Avalon Receives Initial Revenues from Scissortail Energy for the Grace #2 and Grace #5A Wells
May 7, 2009 11:00:00 AM
Copyright Business Wire 2009
Email Story Discuss on ZenoBank
View Additional ProfilesMINNEAPOLIS--(BUSINESS WIRE)-- Avalon Oil & Gas, Inc., (Avalon) (OTCBB: AOGN) provided an update on workover operations in the East Chandler Field, Lincoln County, Oklahoma, and reported that the company has received the first check for gas revenues from Scissortail Energy LLC, since Avalon consolidated its recent acquisition of fractional working interests in the Grace Wells.
"We are pleased to report that the work-over of the Grace #2, Grace #5A, and Grace #6 wells have been completed. Avalon began selling gas from the Grace #2 in January, the Grace #5A in February, and the Grace #6 in April, and we have received our first revenue check from production on the Grace #2 and Grace #5A wells," said Avalon's CEO, Kent A. Rodriguez. "We are excited to have completed the first portion of our initial work-over program in the Grace Field," Rodriguez added. "Given the encouraging price movement for natural gas, production from the Grace wells will have a significant effect on Avalon's revenue stream going forward" he added.
Avalon holds a 30.50% working interest and a 23.88% net revenue interest in the Grace #2; a 37.50% working interest and 23.72% net revenue interest in the Grace #5A; and a 33.50% working interest and a 25.69% net revenue interest in the Grace #6. The company is continuing to acquire additional fractional working interests in each well.
About Avalon Oil & Gas, Inc.
Avalon Oil & Gas is an oil and gas company engaged in the acquisition and development of producing oil and gas properties. In addition, Avalon's technology group acquires and develops energy production enhancing technologies. Through Oiltek, Inc., Avalon's majority-owned subsidiary, Avalon is building an asset portfolio of innovative technologies in the oil and gas industry to maximize enhancement opportunities.
Forward-Looking Statements
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Avalon Oil & Gas, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
FOR FURTHER INFORMATION, please visit the company's website at www.avalonoil.com or contact:
Source: Avalon Oil & Gas, Inc.
East Chandler Field Sale Includes Avalon Stock
Looks like we need to hope Avalon Oil (AOGN) is successful, since a big chunk of the Bedford sale price of the East Chandler Field included Avalon stock. From Avalon's recent 10-Q:
"On August 11, 2008, the Company increased its working interest from 2.5% to 7.5% in the Grace #2 well in East Chandler Field in Oklahoma. The Company also acquired a 10% working interest and a 13,825% net revenue in certain of the assets (the “Bedford Assets”) of Bedford Energy, Inc. (the “Bedford Acquisition”) for consideration totaling $2,000,000. This consideration originally consisted of $1,000,000 in cash, $750,000 in a note payable, and issued 2,500,000 shares of common stock at $0.10 per share. In December 2008, the terms of the transaction were revised as follows: The Company would pay a total of $900,000 in cash (reduced from $1,000,000 in the original agreement), and provide a note in the amount of $400,000 (reduced from $750,000 in the original agreement). The Company would also assume accounts payable in the amount of $222,273 (increased from $0 in the original agreement) and issue a total of 3,500,000 shares of its common stock (increased from 2,500,000 in the original agreement)."
I still have my BFDE shares because I have nothing else to do with them. They're nearly worthless anyway now, so what the heck.
I receive messages from here by RSS feed, but I don't expect anything from Bedford.
Still here . . . .
Like you, I have very little value left in the shares I own, but I'm hanging around to see what may develop . . . .
The sale of the East Chandler Field may represent a sell-off, but I notice that the purchase of this field by Avalon (AOGN) sure hasn't helped Avalon's stock.
Oil at $130+/bbl is one thing; at $34, something entirely different as far as profitability and impetus for more exploration. Natural gas isn't doing all that well, either.
Hello everyone or just anyone (if anyone is still watching this thing),
Time after time again I have been disappointed in this stock. At one time I was excited about the possibilities and then I began to feel this was a scam. Then I realized the company was real and kept some hope because by then I had really lost just about everything but the number of shares I had.
Then I began to get excited again because it seemed the lawsuit was behind them which then explained why we may not have been given any info (possible gag order). But we still got very little info. And we know that Carl Swan has helped create some really successful businesses in the past but now looking back at everything that has happened it is hard to think of this company ever becoming successful.
If this were to turn around it is hard to imagine that this would happen anytime soon being they are selling off possible assets that could earn much more in profit in time. If the assets were worthless I doubt Avalon would have bought them.
As I have said before, I am hanging in there only because I have lost nearly everything that I have put into this. And this little rant is just to see who is still reading from this stock board and to maybe get some new news.
Later
Avalon Completes Workover on Grace # 5A Well
Last update: 9:00 a.m. EST Jan. 30, 2009
MINNEAPOLIS, Jan 30, 2009 (BUSINESS WIRE) -- Avalon Oil & Gas, Inc., (Avalon) (AOGN:
0.03, +0.01, +47.7%) provided an update on workover operations in the East Chandler Field, Lincoln County, Oklahoma, and reported that the workover of the Grace # 5A Well has been completed. Avalon holds a 23.5% working interest and a 19.3% net revenue interest in the Grace # 5A. The well has been shut-in for the past several months. Initial production after the completion of the workover is 200 MCF of gas and 200 barrels of fluid per day. When the Grace # 5A well was originally completed in December of 2006, initial production was 300 MCF of gas per day and 50 barrels of oil per day from the Prue Sand formation.
Avalon closed its acquisition of the Grace # 5A and other assets in the Grace Field, from Bedford Energy, Inc., in December 2008.
"We are excited to have completed the first workover of the wells in the Grace Field, and encouraged with the initial results," said Kent Rodriguez, Avalon's CEO. "We will have a workover rig on location in the next couple weeks, and expect to complete the workover of the Grace # 1, Grace # 2, Grace # 3 and Grace # 6 wells by March 15, 2009," he added.
Avalon's growing energy portfolio now includes production assets of 61 producing oil and gas wells in 5 states. The company will continue to expand capital deployment through the acquisition of high potential oil and gas producing properties in Oklahoma and West Texas.
Sold Some Assets, Not Company?
Unless I've missed something, Bedford sold only its interests in the East Chandler Field; they didn't sell the entire company to Avalon, did they?
This might be a first step in a liquidation, but the sale of one asset, albeit, evidently a large one for Bedford, still leaves them in business as a separate entity.
The sale was a sale of assets not a purchase of the Bedford stock. Bedford received cash from the sale of the assets and from that had to pay the outstanding debts. The debts would have been paid from the sales proceeds at closing if liens had been filed. I have no idea if there were any net proceeds or what, if any, assets are left in Bedford.
I certainly hope we find out something soon. I have seen where a company gets bought out and the stocks just go to the waist side and I have seen when the stocks are taken in at a certain price. When a small company makes it big and gets bought out this usually means the stock goes up. In this case though I would expect it to stay about the same. One thing we may see is a transition of stock from Bedford to Avalon. If Avalon is at a $1 a share and Bedford is $.10 then instead of holding 10 Bedford shares you would hold 1 Avalon share. We will just have to wait like always with Bedford before we get any news I guess. Why change now? I will definitely be more careful about companies like this again in the future.
Do you suppose anyone will ever tell us these things officially? Maybe Avalon is run by more responsible men?
I would imagine that if we have stock in Bedford and these were sold to Avalon we now own stock in Avalon. My shares still show a worth of $.05
So...We're all done here,is that it? Is that everything? "Close the door, turn out the lights"?
PRESS RELEASE
Bedford Energy Closes the Sale of Its Grace Field Assets
Last update: 9:44 a.m. EST Dec. 31, 2008
OKLAHOMA CITY, OK, Dec 31, 2008 (MARKET WIRE via COMTEX) -- Bedford Energy, Inc. (PINKSHEETS: BFDE) announces today that the company closed the sale of its Grace Field assets located in East Chandler, Oklahoma to Avalon Oil and Gas. Avalon Oil and Gas will take over operations effective January 1st, 2009.
For more detailed information on Bedford Energy please contact BFDE@bedfordenergyinc.com or visit www.bedfordenergyinc.com.
PRESS RELEASE
Avalon Closes Acquisition of Bedford Energy Assets
Last update: 9:15 a.m. EST Dec. 22, 2008
MINNEAPOLIS, Dec 22, 2008 (BUSINESS WIRE) -- Avalon Oil & Gas, Inc., (Avalon) (AOGN:avalon oil and gas inc com new
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AOGN 0.02, -0.01, -21.4%) announced it has signed a letter agreement to acquire all of the oil and gas producing assets owned by Bedford Energy, Inc., in the East Chandler Field, Lincoln County, Oklahoma. Avalon will increase its current interest in the Grace #2 well and acquire working interests in four other producing wells in the East Chandler Field: the Grace #1, Grace #3, Grace #5A and Grace #6 wells. The Grace #2 working interest was acquired by Avalon in June, 2008, and the well is currently producing 350 MCF of gas per day.
Avalon is increasing its working interest in the Grace #2 from 2.5% to 7.5%, and increasing its net revenue interest in the Grace #2 to 11.95%. Avalon is also acquiring interests in four additional wells in the East Chandler Field. The company is acquiring a 10% working interest and 13.825% net revenue interest in the Grace #1, Grace #3, Grace #5A and Grace #6 wells. Avalon is also acquiring an undivided fifty percent (50%) interest in a salt water disposal well and offset and development acreage in the two quarter sections of the East Chandler Field. In addition, the company will acquire a fifty percent (50%) interest in 540 acres adjoining the 320 acre East Chandler Field.
In this transaction, Avalon will be acquiring total reserves of 90,000 barrels of oil and 559 MMCF of gas, or reserves of $0.11 per share, at current oil and gas prices. Future net income is projected to be $12,500,000. The acquisition was financed with a combination of cash on hand, the proceeds from the sale of 9,000,000 shares of common stock at an average price of $0.09 per share, the proceeds of a senior secured note in the amount of $300,000, and the assumption of $220,000 in accounts payable.
The Grace #2 was completed in the Viola Limestone, and is currently producing 350 MCF of gas per day, The Grace #5A was completed in the Prue Sand with an initial potential of 50 BOPD and 300 MCFPD. The Grace #5, the Grace #1, the Grace #3 and the Grace #6 wells will be completed in the Hunton Lime.
Hunton Lime Reserves from the Grace #1, the Grace #3 and the Grace #6 wells are estimated to be 48,000 barrels of oil and 423 MMCF gas. Upper Red Fork Sand reserves for the Grace #5A are estimated to be 12,000 barrels of oil and 61MMCF of gas.
Avalon will also be acquiring Prue Sand potential in the Grace #3, Grace #5A and the Grace #6 wells. Estimated Prue Sand reserves for these three wells are 33,000 barrels of oil and 111 MMCF of gas.
"We are excited to complete this expansion of our ownership in the Grace #2, the four other producing wells, the other Bedford Energy Field Assets, and the adjoining undeveloped acreage, in Lincoln County, Oklahoma," said Avalon's CEO Kent Rodriguez. "This acquisition will increase our revenues nearly three-fold. Avalon will continue to increase our ownership in these wells in the coming months" he added. The company's growing energy portfolio now includes production assets of 49 producing oil and gas wells in 5 states, and it continues to expand its capital deployment and acquire additional oil and gas producing properties in the region.
About Avalon Oil & Gas, Inc.
Avalon Oil & Gas is an oil and gas company engaged in the acquisition and development of producing oil and gas properties. In addition, Avalon's technology group acquires and develops energy production enhancing technologies. Through Oiltek, Inc., Avalon's majority-owned subsidiary, Avalon is building an asset portfolio of innovative technologies in the oil and gas industry to maximize enhancement opportunities.
Forward-Looking Statements
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Avalon Oil & Gas, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
FOR FURTHER INFORMATION, please visit the company's website at www.avalonoil.com.
SOURCE: Avalon Oil & Gas, Inc.
Audio of East Chandler Field Purchaser
Kent Rodriguez, CEO of Avalon Oil, purchaser of the East Chandler Field, speaks in a telephone interview.
http://www.ceoroadshow.com/viewer.asp?VideoID=17
What is interesting is that he comments Avalon hopes to close the deal on purchase of this field soon . . . . Interesting in that the closing was expected a couple of months ago. Of course, the much lower energy prices we're seeing could have had an impact on this deal.
OCC Online Database To Track Nona 1-14 Activity
You can always go to the OCC Online Database at
http://occoapp1.occeweb.com/occexit/OCCOraWebApps.html
and track the filing of required forms with regards to ANY drilling in Oklahoma.
The latest I see for the Nona 1-14 is an intent to drill, which isn't surprising, given the bureaucratic delays I've noted, caused by:
- Slowness of operators to file the reports in a timely basis
- Slowness of OCC to scan and post the forms online
- Both of the above.
Do you think this event really even occurred?
OKLAHOMA CITY, OK, Dec 10, 2008 (MARKET WIRE via COMTEX) -- Bedford Energy, Inc. (PINKSHEETS: BFDE) has announced today that is has completed drilling the Nona #1-14 Well in Hughes County, Oklahoma, to a total depth of 3,965 feet. After evaluation, it has been determined that the Nona #1-14 Well is non-commercial and the plugging process has begun.
Does anyone have any info on the Nona #1-14? If they started drilling on time it seems they should be at target depth.
OKLAHOMA CITY, OK, Nov 13, 2008 (MARKET WIRE via COMTEX) -- Bedford Energy (PINKSHEETS: BFDE) announces today that drilling is scheduled to begin on November 20th, 2008 on the Nona #1-14. This is an offset well to the Warren #1-14 gas well in Hughes County, Oklahoma. The Nona #1-14 well will be drilled to a total depth of 4,100 feet through the Calvin formation. Results will be posted as tests are completed. Bedford Energy's drilling program in Hughes County, Oklahoma is on schedule and we anticipate two additional wells to be drilled during the 1st quarter of 2009.
For more detailed information on Bedford Energy please contact BFDE@bedfordenergyinc.com or visit www.bedfordenergyinc.com.
Seems that the company is going to start drilling the Nona 1-14 to a depth of 4100 ft on November 20th.
Most of my information has involved the East Chandler field. Bedford is in the process of finalizing the sale of that field to Avalon (AOGN), whose stock is even lower than BFDE. One report had Avalon taking control of this field by EOM September, but I haven't seen any confirmation of that.
Watching the OCC online database, it looks like Bedford is continuing its administrative "cleanup", especially with regard to the Grace #2. In late September, they filed an amended form which mentioned the Viola layer for the first time in "official" reports, but which had been mentioned in some PR's months and months ago. It also mentioned that the well had been completed in a layer not previously accounted for, which I take is the Viola.
Yet, as I understand it, the gas flowing is from the much shallower Redfork, which got BFDE into a bind because they hadn't properly gotten that layer permitted by the state. They had to file an emergency request to be allowed to continue to extract the gas while they made the proper filings and other physical adjustments to the well.
The halving on the price of natural gas has got to be killing cash flow for both Bedford and Avalon, not to mention the decline of oil prices.
I do not know. ChandlerBorn always has good input though. Everything in the market is in turmoil and this stock has actually been the least of my worries. Maybe something will be out soon now that another quarter has passed. I have also been keeping as busy as possible in hopes that I am not one of the ones laid off. Everything is just going in the crapper!
Thirty days with absolutely NO NEWS. Another record of dismal proportions. Does anyone know what is happening with this co.
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http://www.bedfordenergyinc.com
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Bedford Energy DD
http://www.leona.wz.cz/BedfordDDihub.xls
Share Structure as of 3/18/08
Auth: 100,000,000
O/S: 36,077,000
Restr: 23,787,000
Float: 12,290,000
Market Cap: 4,320,000
Shareholders of "physical" record: 246
________________
PRESS RELEASE
Bedford Energy Closes the Sale of Its Grace Field Assets
Last update: 9:44 a.m. EST Dec. 31, 2008
OKLAHOMA CITY, OK, Dec 31, 2008 (MARKET
(Avalon oil, AOGN: www.avalonoil.com)
________________
Avalon Acquires Interest in Grace #2
MINNEAPOLIS, Jun 10, 2008 (BUSINESS WIRE) -- Avalon Oil & Gas, Inc., (Avalon) (AOGN)
Last: 0.15+0.01+3.45%
10:46am 06/10/2008
AOGN 0.15, +0.01, +3.5%) (FWB: A3MA.F) has acquired a 2.5% working interest and 1.875% net revenue interest in the Grace #2 Well, Lincoln County, Oklahoma. The Grace #2 is currently producing 350 MCF of natural gas per day. Last week the price of gas closed above $12/MMbtu on the New York Mercantile Exchange, having peaked above that level in intraday trading recently in three previous sessions. Market analysts are "leaving the door open for possible advances," attributing the surge in natural gas prices to hotter temperatures in the U.S., a percolating tropical weather environment, and continued fund short-covering in the commodities market, according to an article in the June 4 Oil & Gas Journal.
Bedford Energy is the operator of the Grace # 2 well. "The Grace # 2 recently had a successful completion in the Viola Limestone," said Kent A. Rodriguez, Avalon's CEO. "Log characteristics indicate the Viola Lime is a highly favorable prospect, in comparing log results to other oil prolific wells in the Viola formation. In addition we plan to obtain a gas analysis report to review the potential of the Layton sand," he added. Reserves from the Grace # 2 are estimated to be 59.3 MBBL of oil and 148.25 MMCF of gas.
"We are actively seeking to increase our ownership in the Grace # 2 and four (4) other producing wells in the East Chandler Prospect," said Rodriguez. He added, "Avalon's energy portfolio now includes production assets of 45 producing oil and gas wells in 5 states, and we expect to continue to expand our capital deployment and acquire several more oil and gas producing properties in the coming months."
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Bedford Energy's Grace #2 Well Is Online
OKLAHOMA CITY, OK, Jun 02, 2008 (MARKET WIRE via COMTEX) -- Bedford Energy, Inc. (PINKSHEETS: BFDE) (Cusip 076110 105) announces today that on Thursday, May 22, 2008 the Grace #2 well was put online with an initial production of 396,000 cubic feet of gas. The Grace #2 well, which blew out on January 11, 2007, is Bedford Energy's fifth well in their East Chandler Field.
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Bedford Energy to Complete Grace #2 Well
Monday March 10, 8:15 am ET
OKLAHOMA CITY, OK--(MARKET WIRE)--Mar 10, 2008 -- Bedford Energy, Inc. (Other OTC:BFDE.PK - News) (Cusip 076110 105) announced today that it will immediately begin completion on the Grace #2 well in the East Chandler Field, located in Lincoln County, Oklahoma. The completion of the Grace #2 has been much anticipated since the well blew out on January 11, 2007. Production and test results will be made available as soon as possible.
For more detailed information on the Company or for a current status of our drilling results, please contact BFDE@bedfordenergyinc.com or visit www.bedfordenergyinc.com.
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From the Desk of Clark “Sonny” Boyles Jr., Chief Operating Officer
February 1, 2008
Dear Shareholders:
We at Bedford Energy are proud to announce to our shareholders the good news from the month of January. During the first half of January, we successfully settled the lawsuit with the Wilcox Group. We are now poised to resume operations in our Grace oilfield in East Chandler, Oklahoma and our Warren field in Hughes County, Oklahoma.
We are in the process of putting the Grace wells back online, starting with the Grace #5 well, and then completing the Grace #2 well. We will resume drilling offset wells after the re-completions are online. Our Warren 1-14 well in Hughes County has been successfully tested and has been put online, producing natural gas. We have permits for two offset wells, the Claudia Jane 1-14 and the Nona 1-14. We are currently building these locations and should begin drilling these two wells in March and April of this year.
Our Chairman, Carl W. Swan, who celebrated his 82nd birthday last September, retired as Chairman and will remain a Director and Consultant to the Company. Harvey S. Bryant has replaced Mr. Swan as Chairman and also remains serving as President and CEO of Bedford Energy.
We believe the company is heading in the right direction and our goals are obtainable in the very near future. We, at Bedford Energy look forward to keeping you informed and sharing our results with you as soon as possible.
Sincerely,
Clark “Sonny” Boyles Jr.
Chief Operating Officer
Bedford Energy, Inc.
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Source: Bedford Energy, Inc.
Press Release - Bedford Energy Settles Suit
Wednesday January 16, 2008
OKLAHOMA CITY, OK--(MARKET WIRE)--Jan 16, 2008 -- Bedford Energy, Inc. (Other OTC:BFDE.PK - News) (Cusip 076110 105) -- Bedford Energy, Inc. announces today that it has settled the lawsuit with The Wilcox Group, LLC.
With the settlement final, Bedford Energy will be able to immediately recommence its well re-work activity and completion operations in the Grace Field, located in Lincoln County, Oklahoma, and the further development of the Warren Field, located in Hughes County, Oklahoma.
For more detailed information on the Company or for a current status of our drilling results, please contact BFDE@bedfordenergyinc.com or visit www.bedfordenergyinc.com
About Bedford Energy, Inc.
Independent Oil and Gas
Bedford Energy, Inc. is a public company, trading under the symbol BFDE that is engaged in the exploration, development and exploitation of natural gas and oil properties in the mid-continent and gulf areas of the United States. Bedford strives to enhance investor value by expanding oil and natural gas reserves raising production levels and increasing cash flow. As always, Bedford intends to increase shareholder value through developmental drilling in proven producing areas.
SEC DISCLAIMER
Information contained herein may contain forward-looking statements which are not guarantees of future success or that there cannot be losses. The actual presence or recoverability of reserves for optimal and timely recovery, well costs or schedules or other matters cannot be promised. This release contains "Safe Harbor" provisions of the US Private Securities Litigation Reform Act of 1995 & involves risks and uncertainties, which could cause actual results to differ materially from those estimated herein.
Bedford believes the forward-looking statements are based on current reasonable assumptions but can give no assurance that results will be achieved. Unpredictable & unanticipated risks, trends and uncertainties including inability to accurately forecast operating results; the potential inability to achieve profits or have cash flow; access to financing; and other must be understood. Bedford assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
Contact:
Bedford Energy, Inc.
531 N Portland Avenue
Oklahoma City, OK 73107
Office: (405) 601-9745
http://www.bedfordenergyinc.com
Source: Bedford Energy, Inc.
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Date: January 24, 2008
RE: Board of Directors update
Effective Jan. 01, 2008
Carl W. Swan stepped down as Chairman of the Board, but remains an active member of the Board of Directors. Mr. Swan will remain a consultant to Bedford Energy, Inc.
Tom Taylor resigned his seat on the Board of Directors in order to put forth his full efforts as Superintendent of Field Operations. A new Director will be appointed soon to fill this vacancy.
Harvey S. Bryant was appointed Chairman of the Board of Bedford Energy, Inc. This is in addition to Mr. Bryant’s current position as President and CEO of Bedford Energy, Inc.
Clark H. Boyles Jr. remains on the Board of Directors and also serves his position as Chief Operating Officer of Bedford Energy, Inc.
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