Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Cambridge Resources Signs USD $25 Million Financing Agreement
Apr 4, 2007 9:00:00 AM
NEW YORK, NY -- (MARKET WIRE) -- 04/04/07 -- Cambridge Resources Corporation (PINKSHEETS: CBRP) today announced it has signed a financing agreement with a private investment group for a total of up to USD $25,800,000 which is composed of an initial $2,000,000 investment and a series of Warrants exercisable over a period of 60 months, whereby once exercised, represents a total investment of $25,800,000 into CBRP.
Cambridge Resources will immediately close the acquisition of American Pride Energy Inc. and its oil and gas properties independently valued at USD $409 million. The initial funding will be utilized to close the acquisition and enable the company to begin the work necessary to make operational four existing wells.
"This is a very significant time in our company's history; we are extremely pleased with our new financing partners and the agreed terms and conditions," said Tony Felitsky, President of Cambridge Resources Corporation. "We are going to immediately begin the re-entry and re-work of our existing wells, and start generating revenue and profits in the short term," further added Mr. Felitsky.
The company expects to release further information regarding the private investment group and the intended use of proceeds from the financing as the transaction advances towards the closing. The investment is subject to the completion of the due-diligence and is scheduled to close on or before June 28, 2007.
About American Pride Energy Inc.
American Pride Energy Inc. is an oil and gas junior producer located in Kansas City, where its properties have estimated 5,000,000 barrels of recoverable reserves, and once the required financing is concluded, the company expects production to grow to 182,500 barrels of oil per year and 219,000 MCF of gas per year. The company projects approximately USD $40 million in Revenue and USD $32 million in Profit within the next 5 years.
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
Contact:
Alex Barta
514-991-2272
abarta@cambridgeresourcescorp.com
down 12% with 172,000 in buys and 27,000 in sells. Something does not seem right, MMs playing there games.
Lets have another green day. Charts looking better after yesterday.
A buy was confirmed by Americanbulls.com tonight.
This is the first one on CBRP. Lets see what happens.
That's like asking people to cut off their own arm...LOL
Now if we can keep the buying at the ask and some news this should move big. No bidwacking please.
strong buy side activity all morning. looks like a pressure cooker .... something good must be up
Some good buying today on CBRP anything happening. They must be getting close to financing.
so financing within a month, or not? hard to say without it the American Pride deal goes south.
Feels great to be on the outside. The people I was in with drove me crazy. I hope people won't hold that against me.
BB
BB, ok will do, seems undervalued here...
by the way, what's it like to be a jailbird.... lol
Doubloon- as far as I know they are working on the financing.
Don't know the terms till they finish the deal.
Talk to Alex 514-991-2272 for any info on the company. I emailed him a few times and he got back to me that same day.
I know he will be releasing some news, but I don't know when.
GLTY
BB
O.T. Zoom-Zoom, your welcome, hope you made some money before that pos collapsed.. unbelievable what some people call a company, I feel sorry for the young kids that got involved in it dragged on by paid personel.
I have been looking into this company and IF the final pieces of the jigsaw come together there may be something here. Still way too much risk for us to take a position yet, and from my information it may be another week before financing is complete. I think they have time before the deadline, will have to research it some more.
p.s. thanks for this heads up.
doubloon, thanx VERY much for GLXI heads up.
don't they need some financing for this whole deal to work, anyone know the terms?? and how dillutive is it going to be, and if they do not get the financing is there any value in this company if the American Pride deal does not go through??
Ditto, called IR-Very intreaging. Very nice guy-Alex Barta. Calls back when you leave a message.
Touché
Please restore my deleted message. It was not off topic nor was it IMO.
Cambridge Resources Victim of Email Spammers
Mar 13, 2007 4:30:00 PM
NEW YORK, NY -- (MARKET WIRE) -- 03/13/07 -- Cambridge Resources Corporation (PINKSHEETS: CBRP) (FRANKFURT: M3F) announced today that it has been a target and victim of email spammers.
According to the company, a series of emails touting CBRP were allegedly sent out to thousands of people the week of March 4, 2007. The company did not hire, pay and/or request anyone and/or any organization for the email distribution. The company does not and did not approve any of the content of said emails and the company was not aware of such email distribution nor does it condone such illicit practice.
Due to the emails and complaints thereafter, Pinksheets has removed the quotation from its website until a legal opinion by the company's counsel can be provided. It should be noted that quotation on the company's stock is available on all other quotation systems and that trading continues to be active.
Investors should seek complete information on the company and seek advice from their financial and or investment advisor before making an investment decision.
Cambridge Resources Corporation disseminated several press releases and investors can review said releases on the company's website at www.cambridgeresourcescorp.com and can speak to the company's investor relations department for more information. The company plans to make all financial and or material events known to the public via its website, press releases and the Pinksheets news service.
The company has a total of 180,000,000 common shares outstanding and no preferred shares, options or warrants. The company does not have any revenue; profit and assets are limited to the acquisition of American Pride Energy and its oil and gas properties, which have been independently valued at US $409 million and the liabilities are approximately US $5 million, which represents the payment required for the closing of the acquisition of American Pride Energy to occur on or before June 15, 2007.
About Cambridge Resources
Cambridge Resources Corp. is a junior oil and gas producer located in Kansas City and its properties have an estimated 5,000,000 barrels in recoverable reserves and once the required financing is concluded, the company expects production to grow to 182,500 barrels of oil per year and 219,000 MCF of gas per year. The company projects to generate approximately US $40 million in Revenue and US $32 million in Profit within the next 5 years and further exceed these projections with the acquisition of other properties with proven reserves in North America and around the world.
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
Contact:
Alex Barta
514-991-2272
abarta@cambridgeresourcescorp.com
Over 3 million in buy compared to 1.2 million in sells and down 5%. They gapped it up so they could do this and play with the charts. They have been doing it the past few trading days.
Have a good weekend.
You are wrong. I have not joined any club. These e-mails were unsolicited. I get them every day for different stocks and I am delighted that the SEC is finally taking action to stop this.
That is a club on the web you have to join on the mail list. At least it is not from some spam that you never asked for.
http://groups.msn.com/PennyStockInvestmentClub
CBRP is very low at these levels. It is going up steady.
Don't expect 100% in 1 day now but we could see it.I expect to be at .10 or above soon.
Email from Alex 03/09
Walt,
Yes as I have told you there are some excellent news coming out soon and we are still targeting $1/share within 3 months. Our goals are to fund the development of our existing properties so as to maximize shareholder value and to continue pursuing other opportunities in the energy sector world wide. We do not have any CD that I am aware of.
Cheers,
Alex.
BB, you got everything under control over here!! LOL Sorry, I've been extremely busy with school, but if you need help we can appoint some new mods.
Looks like some accumilation happening here. I could not believe the gap today. Moving up slow and steady. I will take 20% eveyday.
Looking good again today without news. I think we have already bottomed out and the MM's are gonna let this one continue to move up. The volume lately has been good and consistant.
Good to see you here. CBRP Starting to get stronger. Looks like the reversal is happing. Alex want to get this stock back up big time.
I have been watching this one and will wait for gap to fill before I even think about. Any way to get a chart on this one. Stock charts does not offer one.
Watching this one closely. Nice find.
A good day today up 28%. Looks like the reversal is happening.
Being acculimated here.
Could be a 5 bager in the next couple of weeks.
Hope tomorrow this will continue.
Charts looking good.
Yep, was a piece of cake to see through. Wish they were all that easy lol.
His MO Was identical in ECFL-almost the eact same wording too,just replace EFCL with CBRP. Starts innocent and turns nasty.
Call Alex he can answer any questions you may have
Contact:
Alex Barta
514-991-2272
abarta@cambridgeresourcescorp.com
bb player, is this company legit? Either the ceo is going to jail for fraud or his pr is accurate.
CBRP News -Properties; Valued at USD $409 Million
Cambridge Resources Releases G.A. Engineering's Independent Evaluation Report of the American Pride Energy Properties; Valued at USD $409 Million
Mar 6, 2007 10:00:00 AM
NEW YORK, NY -- (MARKET WIRE) -- 03/06/07 -- Cambridge Resources Corporation (PINKSHEETS: CBRP) (FRANKFURT: M3F) released the completed independent evaluation report by G.A. Engineering with total value of USD $409 million.
According to the independent report, the value determined is based on the probable and recoverable reserves as well as current production and the fair market value of the equipment. The independent report evaluated the following American Pride Energy properties :
-- McGary Adams
-- Jack McLain
-- Sacred Heart Parrish
-- Peak Clements
-- Asher
-- Dixon: (data not complete and not included in the report)
-- Pain Creek
-- Benoist
-- McClosky
-- Rosiclare
-- Kansas Gas Properties (data not complete and not included in the
report)
-- TOTAL EVALUATION: USD $409,011,819
The independent report does not currently include the Dixon property nor does it include the Kansas Gas properties. A revised report will be issued to reflect all properties once the data on the Dixon and the Kansas gas properties are completed and analyzed.
"The independent evaluation on the American Pride Energy Properties is beyond our expectation. The evaluation represents $2.27 of property value per share considering the total issued and outstanding on a fully diluted basis. Even if someone wanted to be extra conservative and were to discount the evaluation by 90%, it still represents $0.23 per share," said Mr. Felitsky, President and CEO of Cambridge Resources Corporation. "Now it is our turn and that of our team of experienced professionals to assure that value on the report is transformed into value in the hands of our shareholders. We will do whatever is in our power to counter the short sellers and or any other negative market forces," further added Mr. Felitsky.
About Cambridge Resources
Cambridge Resources Corp. is a junior oil and gas producer located in Kansas City and its properties have an estimated 5,000,000 barrels in recoverable reserves and once the required financing is concluded, the company expects production to grow to 182,500 barrels of oil per year and 219,000 MCF of gas per year. The company projects to generate approximately USD $40 million in Revenue and USD $32 million in Profit within the next 5 years and further exceed these projections with the acquisition of further proven reserves in North America and around the world.
About G.A. Engineering
G.A. Engineering is a Petroleum Engineering firm based in Tulsa, Oklahoma. The company and its principal engineers have over 37 years of domestic experience in drilling, completions and reservoir evaluations. G.A. Engineering prepared the evaluation report for American Pride Energy Inc. during the month of February released in March. G.A. Engineering or employees have no direct or indirect, nor expect to receive any interest in the properties and or any securities with respect to this project. The evaluation report provided by G.A. Engineering is totally independent.
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
Contact:
Alex Barta
514-991-2272
abarta@cambridgeresourcescorp.com
"Man why can't people just post their research on IHub without people calling them a basher"
Because you have no credibility, that's why. You've posted on 2 stocks only in your 4 months' posts on IHUB, and they've all been negative. That's bashing, not research. Please be respectful and try another board.
I meant that in no way to bash this stock, chill out guys...If your comparing my opinions about ECFL to this your way off.
Most investors have reason to doubt ECFL, 2 failed mergers, spam faxes/websites, no contact info for months until recently. Desmond's PR office is a UPS store...
This stock doesn't have that nice track record.
I was just doing my research. I'm actually very interested in this stock, hence the research. I just question as to why there is no record of Cambridge anywhere on Nevada's SOS website, but the Amyot guys are on there under 5 different companies.
Not saying it's a bad stock, just be careful. Man why can't people just post their research on IHub without people calling them a basher.
I see what you mean about penny just wants to bash a little.
Yeah, like we're gonna believe someone whose only posts on IHUB are bashes ... first ECFL which is doing terrific, and now this company. We weren't all born yesterday.
Followers
|
8
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
244
|
Created
|
03/01/07
|
Type
|
Free
|
Moderators |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |