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Conquest Petroleum Inc. (fka CQPT)

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Last Post: 9/16/2014 11:14:07 PM - Followers: 14 - Board type: Free - Posts Today: 0

 


 

Conquest Petroleum Incorporated ("Conquest" or "Company") is a fully reporting public, independent exploration and production (E&P) company involved in the development and production of oil and gas from previously identified reserves. Current operations consist of two core areas - northern Louisiana and southwestern Kentucky. As of July 1, 2009, the Company's total proved developed oil and gas reserves of 2.8 million barrels of oil equivalent ("mmboe") valued at nearly $49.2 million using PV-10% standardized measure of future net cash flows.

Conquest's business model is based on a conservative and well-articulated operating strategy consisting of four phases. Phase One - the acquisition of over 36,000 acres of mature, low risk oil and gas properties - was completed by the beginning of 2008 and the Company has since begun Phase Two that it expects to complete by 2009 year-end. Phase Two involves workover and recompletion of certain existing low risk wells that will have the effect of turning proved developed, non-producing ("PDNP") reserves into proved developed producing ("PDP") assets. Phase Three, scheduled to begin by the end of 2009, is expected to result in over 300 new producing wells from infill drilling programs anticipated to run through the first quarter of 2013. These properties are in the Company's existing inventory. Total capital expenditures required to complete Phase Two and Three are estimated at $48.9 million of which Conquest expects to fund from debt, and from internally generated cash flow expected to begin during the second half of 2009 as Phase Two nears completion and new producing wells are brought on line. Conquest's strategy anticipates another round of oil and gas asset acquisitions to accomplish Phase Four

 

ASSETS
DELHI FIELD, LOUISIANA
  • 95.8% Working Interest (WI) & 82.7% Net Revenue Interest (NRI)
  • Proved Oil Reserves: 1.8 Million Barrels
  • 1,400 lease acreage
  • Currently re-working 7 wells (3 injection wells & 7 producing wells) in the Mengel Sand
  • In addition, recompletion of 3 wells from the Mengel Sand to the Z Equivalent Sand will be performed
  • Plan to drill 5 developmental wells in 2009, 2 in the Mengel Sand, and 3 in Z Sand
MARION FIELD, LOUISIANA
  • 100% Working Interest (WI) & 71% Net Revenue Interest (NRI)
  • Proved Gas Reserves: 19.2 BCF (3.2 million BOE) - Internal Report
  • Operating over 450+ producing wells on 21,500 lease acres
  • Identified 300 developmental wells on 20 acre spacing
  • Developing strategic plan for exploration and development of deeper prospective pay zones
BELTON FIELD, KENTUCKY
  • 100% Working Interest (WI) & 76.5% Net Revenue Interest (NRI)
  • Potential Oil Reserves: 8.2 Million barrels (BOE)(Internal Report)
  • Leased over 9,000 acres including 3,000 acres fee simple minerals in Muhlenburg County, Kentuck Existing wells and new wells to the "McCloskey" and "New Albany" Zones
  • Plan on bringing 17 existing wells into production in 2009
  • Identified 24 "New Albany" prospects and 24 "McCloskey" on the 3000 acres
  • Analyzing additional prospects on additional 6000 acres
HOSPAH & LONE PINE FIELDS, NEW MEXICO
  • Oil and gas production from the Hospah Sandstones reservoirs since 1927 have yielded nearly 22 million barrels of oil and nearly 53 MCF of gas through 2005.
  • The Company is completing ongoing negotiations aimed at yielding to Conquest Petroleum a 100% working interest and an 81.5% net revenue interest in approximately 5,000 acres of the Hospah and Lone Pine Oil & Gas Fields in McKinley County, New Mexico.
  • Conquest Petroleum is preparing to evaluate several existing shut-in oil and gas wells in existing lease for productive potential; prelimary technical assessment of lease and lease to be acquired indicate favorable oil and gas production from previously drilled and completed wells; Conquest Petroleum plans to re-enter several wells for testing, evaluation, and placing them on production.
.
 
Average
 
 
 
 
 
 
July 31, 2008
Working
Developed Acreage
Undeveloped Acreage
Total Acreage
 
Interest
Gross
Net
Gross
Net
Gross
Net
Marion-LA
100%
10,300
10,300
11,200
11,200
21,500
21,500
Delhi-LA
95.77%
520
498
880
843
1,400
1,341
Hospah-NM
100%
0
0
1,280
1,280
1,280
1,280
Belton- KY*
100%
110
110
9,215
9,215
9,325
9,325
Total
 
10,930
10,908
22,575
22,538
33,505
33,446
* In negotiations to acquire approximately an additional 10,000 acres

 

PRESS RELEASES
 
November 17, 2009 - Conquest Petroleum Incorporated Announces Capital Funding
(full press release pdf)
 
September 15, 2009 - New Member: Board of Directors - Ann Thomas
(full press release pdf)
 
August 25, 2009 - Conquest Signs Equity Facility with Yorkville Advisors
(full press release pdf)
 
August 13, 2009 - Conquest Petroleum Inc Releases New Albany Shale Update.
(full press release pdf)
 
August 13, 2009 - Conquest Petroleum Inc Reports Delhi Restoration Status.
(full press release pdf)
 
August 5, 2009 - Reverse Stock Split and Name Change.
(full press release pdf)
 
July 27, 2009 - Maxim Commences Restoration of Production.
(full press release pdf)

www.conquestpetroleum.com/index.html

PostSubject
#583   Re CQPT's stock revocation, the stock cannot trade Renee 09/16/14 11:14:07 PM
#582   What happens next with shareholders? Are the shares lv1957 09/16/14 09:10:44 PM
#581   CQPT revoked: Renee 09/15/14 10:05:30 AM
#580   CQPT SEC Suspension: Renee 08/06/14 09:37:41 AM
#579   All are thieves? eros 04/06/14 09:00:11 PM
#578   i can't believe this turd is still floating Guitarmanlife 02/21/14 05:33:48 PM
#577   Namaste! eros 01/29/14 07:42:13 PM
#576   CQPT is smells like a winner kranthikumar 01/29/14 09:50:14 AM
#575   CQPT is smells like a winner kranthikumar 01/29/14 09:49:03 AM
#574   CQPT is smells like a winner kranthikumar 01/29/14 09:48:32 AM
#573   Is it dead yet? eros 11/15/13 08:49:04 PM
#572   Wow todays volume is great! MsCoffeenut333 08/13/13 04:47:44 PM
#571   Not if you're in a hurry. These Quirt Evans 08/06/13 02:06:06 PM
#570   Well that's not so good! MsCoffeenut333 08/03/13 12:58:23 AM
#569   Actually, I shot an email off this afternoon Terrapinriskynicity 08/02/13 11:17:15 PM
#568   Negative Terrapinriskynicity 08/02/13 11:55:05 AM
#567   Did you ever get a reply from your MsCoffeenut333 08/02/13 09:23:41 AM
#566   I just may. Depends where it is when Terrapinriskynicity 07/30/13 12:09:12 AM
#565   I wonder if I should add a little MsCoffeenut333 07/30/13 12:06:01 AM
#564   Made me take a closer look at the Terrapinriskynicity 07/29/13 11:22:49 PM
#563   never seen this .004 .009 MsCoffeenut333 07/29/13 09:59:59 AM
#562   CQPT is smells like a winner kranthikumar 07/29/13 09:48:40 AM
#561   Sure wish we had some news! MsCoffeenut333 07/18/13 11:45:43 AM
#560   CQPT is exactly at 100% kranthikumar 07/18/13 10:16:57 AM
#559   Nice move this am MsCoffeenut333 07/15/13 09:55:35 AM
#558   Ann Thomas eom7 07/08/13 09:42:32 AM
#557   Sent. Hopefully next week has better (read:any) trading Terrapinriskynicity 07/05/13 10:56:32 PM
#556   http://www.conquestpetroleum.com/contact.html I also sent a second email on MsCoffeenut333 07/03/13 01:45:23 PM
#555   Where did you send your email? I'll fire Terrapinriskynicity 07/03/13 01:03:05 PM
#554   Think I hear crickets Terrapinriskynicity 06/25/13 03:57:00 PM
#553   No reply Yet! :( MsCoffeenut333 06/20/13 11:01:36 AM
#552   I like the trading the past week, just Terrapinriskynicity 06/17/13 12:09:06 PM
#551   looks like something for sure is going on :) MsCoffeenut333 06/17/13 09:49:46 AM
#550   Just sent email to company... MsCoffeenut333 06/15/13 08:33:23 PM
#549   Heck....Even if they "intend" to be on track, The master of pluots 06/14/13 12:43:16 PM
#548   Let's hope they're on track, and we'll all Terrapinriskynicity 06/14/13 08:55:11 AM
#547   Phase Three, scheduled to begin sometime in 2011, MsCoffeenut333 06/14/13 12:28:30 AM
#546   Woah. 10,000@.025 to start the day. Hopefully a Terrapinriskynicity 06/10/13 11:50:03 AM
#545   Amen to that... Quirt Evans 06/07/13 12:29:54 PM
#544   I'm hoping that the person who bidwhacked us The master of pluots 06/07/13 11:41:03 AM
#543   Twice the volume of yesterday, I'm loving this Terrapinriskynicity 06/07/13 11:27:18 AM
#542   0.008 x 0.012!! Best quote in over The master of pluots 06/07/13 08:41:43 AM
#541   Boy, Imagine if we could get a 5-10 The master of pluots 06/06/13 09:29:35 PM
#540   Nice day... Terrapinriskynicity 06/06/13 05:23:19 PM
#539   I was thinking about putting bid on The master of pluots 06/06/13 09:12:33 AM
#538   I wish I had that kind of power ! MsCoffeenut333 06/06/13 09:07:41 AM
#537   You caused that??? The master of pluots 06/06/13 08:49:19 AM
#536   lol now look at the bid MsCoffeenut333 06/05/13 12:10:14 PM
#535   they wont let me sell at .0075 keeps MsCoffeenut333 06/05/13 12:08:55 PM
#534   lol I was wondering MsCoffeenut333 06/05/13 12:06:27 PM
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