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Created: 11/24/2004 12:10:40 AM - Followers: 11 - Board type: Free - Posts Today: 0

 

Galloway Energy Inc. (GWGI)

Galloway Energy Inc, The Company is an exploration stage company engaged in the exploration of Oil and Gas.
Recent Price Last
0.105
Market Capitalization $5.5M
Est Float 5 M
Outstanding Shares 55M
Exchange OTC.PK

Galloway Energy, Inc.
50 W. Liberty St.
Suite 880
Reno, NV 89501

Phone: 301-933-5883
Fax:
http://www.gallowayenergyinc.com Company Highlights




Natural gas provides almost one-third of the California ’s total energy requirements and will continue to be a major fuel in California 's supply portfolio. California 's supplies of natural gas come from four areas: in-state production, Southwestern United States, Canada and the Rocky Mountain Region.

California spent nearly $19 billion on natural gas in 2006, with 42% for core customers (residential and commercial), 40% by non-core (industrial and electricity production), and 18 percent by non-utility (direct deliveries from interstate pipelines and California production). That's a near-tripling of the costs in ten years.

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Current Projects
Galloway Energy Evaluates 2D and 3D Seismic for Target Identification





Galloway Energy Inc. has further evaluated the previously mentioned 2D and 3D seismic work in order to establish target objectives in relation to the Company's two natural gas exploration and development projects. The projects are situated in the Central Valley of California , in a currently prolific gas-producing location. Galloway has acquired a 10% working interest in the two gas plays from Swiss corporation Dominus Energy AG. The projects' potential meets Galloway 's corporate mandate of being high-value and reasonable risk that will, if commercially viable, enable Galloway to become a "near-term" producer with sustainable cash flow.




Galloway Energy Evaluates 2D and 3D Seismic for Target Identification





Galloway Energy Inc. has further evaluated the previously mentioned 2D and 3D seismic work in order to establish target objectives in relation to the Company's two natural gas exploration and development projects. The projects are situated in the Central Valley of California, in a currently prolific gas-producing location. Galloway has acquired a 10% working interest in the two gas plays from Swiss corporation Dominus Energy AG. The projects' potential meets Galloway's corporate mandate of being high-value and reasonable risk that will, if commercially viable, enable Galloway to become a "near-term" producer with sustainable cash flow.







Company Overview
Galloway Energy (OTC.PK: GWGI)

Galloway Energy Inc was founded in December, 2006. The company is duly incorporated in the State of Nevada.

The Company is an exploration stage company engaged in the acquisition, exploration and when justified, development, of natural gas projects. The Company is currently identifying potential target acquisitions and hopes to announce the commencement of negotiations with a vendor shortly.

The projects are situated in the Central Valley of California, in a currently prolific gas-producing location. Galloway has acquired a 10% working interest in the two gas plays from Swiss corporation Dominus Energy AG. The projects' potential meets Galloway's corporate mandate of being high-value and reasonable risk that will, if commercially viable, enable Galloway to become a "near-term" producer with sustainable cash flow. The Company has positioned itself through these acquisitions into becoming a producer of natural gas late in the 2009 calendar year.

The two projects have the combined potential to contain over 50 BCF gas and thus, Galloway's 10% working interest in the projects would net 5 BCF of gas to the Company. Galloway has executed an agreement to acquire these two projects by paying 10% of the acquisition and developme nt costs. The two plays have completed extensive engineering including 2D and 3D seismic across multiple target objectives including several rock formations showing as prospective for gas and which are undergoing final selection as well locations for a 2009 drilling program. The targeted locations are very close to existing production that has produced 100's of BCF gas and are also in close proximity to pipelines and other key infrastructure.

Across the Central Valley, local gas production accounts for only 15% of the State's requirements and gas consumption in the Sacramento area is primarily used in electricity generation. Galloway believes that this particular market will remain vibrant with strong gas pricing especially in light of the new Federal Administration's focus on "green-energy" solutions. Gas pricing in California remains some of the highest in the Country based on the state's insatiable regional demand for the commodity. California continues to offer a vast potential of unearthing additional discoveries including entirely new basins in this increasingly strategic aspect of the domestic energy market.

As previously announced, field activities are planned to begin shortly with preparations underway near Sacramento for a seismic shoot. Additionally, reprocessing of the existing seismic data will further define the closure of natural gas traps. Fully defining the gas trap closures is a prudent and expeditious means of heightening the overall probability of success and must be completed before drill site preparations are begun. Management expects to receive an A.F.E. (Authority for Expenditure) from the operator detailing going forward costs shortly.

Galloway believes there is a high probability of success for the completion of commercially viable gas wells on the target lands. Analog production from nearby wells in the area is currently in the 1,000 to 2,000 Mcf per day range and all preliminary indicators suggest that a similar outcome is a reasonable expectation at this time.


Why Natural Gas?

In 2006, U.S. natural gas consumption reached 21.6 trillion cubic feet (Tcf), down slightly from 2005. The historical peak in U.S. natural gas consumption occurred in 2000 when 23.3 Tcf were consumed.

§ The industrial sector consumed the greatest portion with 6.5 Tcf consumed in 2006.

§ The electric power sector used 6.2 Tcf in 2006.

In 2006 residential natural gas consumption was 4.4 Tcf.

2006 commercial sector natural gas consumption was 2.8 Tcf.
What is the world demand and outlook for natural gas?

In 2006, world natural gas consumption was 105.5 Tcf. Russia, which consumed 16.6 Tcf, and the United States, which consumed 21.6 Tcf, accounted for 36 percent of the total.

Worldwide consumption of natural gas is projected to increase by nearly 64 percent between 2004 and 2030. Among the end-use sectors, the industrial sector remains the largest consumer of natural gas worldwide, accounting for 42 percent of the total increase in demand for natural gas between 2004 and 2030. Natural gas also is expected to remain an important energy source in the electric power sector, particularly for new generating capacity. By the year 2030, total world consumption of natural gas is expected to be 163.2 Tcf.

 

RENO, NV -- 05/01/09 -- Galloway Energy Inc. (PINKSHEETS: GWGI) ("Galloway" or the "Company") today is pleased to announce that the "Adams Feed #1" well, which is the first of the previously announced multi-well development program, has commenced drilling at the West Texas project. The gas well is drilling ahead, and will reach the total depth within 4 days. The Company expects results on gas pay zone intervals and will have a very good idea as to the commercial viability of the well and productive gas flow rates shortly thereafter. Galloway will update results as soon as further news becomes available.

The "Adams Feed #1" well is located adjacent to the town of Ozona in Crockett County, Texas. As previously announced, Galloway has secured a first right of refusal to participate in the gas project located on 12,900 acres in the Barnett Shale area of West Texas. The area is a well documented and prolific region benefiting from the presence of established companies such as Chesapeake, Devon, EOG, XTO, and Quicksilver Exploration. The Barnett Shale is one of the largest sources of Natural Gas in the USA with proven reserves of 2.5 Trillion cubic feet (Tcf) which many companies believe is far short of a reserve potential that may prove to be significantly closer to 30Tcf or more. The property in question has over 115 working wells currently in production, as a result of which Galloway's participation will result in immediate cash flow for the Company.

Company President and CEO Shane Lowry comments, "The news from West Texas is very promising and we look forward to announcing what we believe will be positive results in short order. Galloway is entering a growth phase and we look forward to turning our strategic aims into practical reality as quickly as possible."

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#2248 Dominus Energy is legit company; although struggle to OilBoomcity 05/25/2016 02:03:42 AM
#2247 Chart 9/17 SimonL 09/19/2010 12:42:57 AM
#2246 It is going up! WHY? environ-mental 01/05/2010 01:16:36 PM
#2245 Very interesting and eye-opening! Thanks. Malak 10/27/2009 11:49:48 AM
#2244 trade4, I have made an assumption that the back2basics 06/27/2009 01:12:17 AM
#2243 Thank-you back2basics! You have confirmed my gut feelings trade4rent 06/26/2009 02:11:28 PM
#2242 I don't follow Galloway but I do follow back2basics 06/25/2009 06:58:23 PM
#2241 Remember, there is the original Galloway Energy (the trade4rent 06/25/2009 10:52:36 AM
#2240 If Norex is a partner with Galloway, why Greg5 06/24/2009 03:52:03 PM
#2239 http://www.oilandgasinvestor.com/Headlines/2009/WebJune/item41317.php Norex A arden 06/24/2009 02:36:31 AM
#2234 dogcatcher go ckeck out pcai some big buys ahousepainter 06/22/2009 05:17:53 PM
#2233 Hey fellows whatsup? I was thegemshop over on Dogcatcher 06/22/2009 04:57:30 PM
#2230 Sorry all. I am in the same boat. Greg5 06/22/2009 09:09:51 AM
#2229 Good News everyone! We can rest assured the slbrown 06/22/2009 05:20:15 AM
#2228 HEY JABS, I KNOW THAT YOU HAD YOUR frankie9251 06/21/2009 04:06:50 PM
#2227 what comes around goes around!did you just make frankie9251 06/21/2009 03:40:25 PM
#2226 Hey Frankie, As I always say, what goes slbrown 06/21/2009 08:48:13 AM
#2225 frankie At this time I have to say that jabs 06/20/2009 08:24:03 PM
#2224 IM GOING BACK TO TRASHING THIS COMPANY ON frankie9251 06/19/2009 11:32:25 PM
#2223 what the f--K...If this POS company has done jabs 06/19/2009 05:43:21 PM
#2222 Has anyone seen the cease trade order from Greg5 06/19/2009 02:07:40 PM
#2221 frankie I agree with you but I think that jabs 06/17/2009 09:18:25 PM
#2220 hey jabs i look at it this way. frankie9251 06/17/2009 07:19:17 PM
#2219 Hey frankie jabs 06/17/2009 03:03:20 PM
#2218 est of luck to you and all the jabs 06/16/2009 11:26:59 AM
#2217 Thanks Jabs for your thoughts. I'll check back trade4rent 06/16/2009 10:36:50 AM
#2216 Trade I maybe either the biggest optimist or the jabs 06/16/2009 10:32:04 AM
#2212 But Jabs, Don't you think there would be trade4rent 06/16/2009 10:24:40 AM
#2211 Trade I don't think it is halted. there just jabs 06/16/2009 10:11:01 AM
#2210 Is it halted today?? My Level II has trade4rent 06/16/2009 09:59:09 AM
#2209 Is it halted today?? My Level II has trade4rent 06/16/2009 09:59:05 AM
#2208 So it looks like am am the only jabs 06/16/2009 07:22:12 AM
#2207 Well lets see what this week has in jabs 06/14/2009 11:06:47 PM
#2206 by the way jabs i sold that stock frankie9251 06/12/2009 10:34:39 AM
#2205 frankie As of now I am holding on for jabs 06/12/2009 10:30:18 AM
#2204 i had another gas company i was invested frankie9251 06/12/2009 10:26:13 AM
#2203 frankie Where so you come up with this..... jabs 06/11/2009 10:56:53 PM
#2202 1 week later they will come out with frankie9251 06/11/2009 10:04:17 PM
#2201 next press release will say: frankie9251 06/11/2009 09:57:22 PM
#2200 im still in, until the end of next frankie9251 06/11/2009 11:29:29 AM
#2199 Jabs, I'm glad you already knew what "first trade4rent 06/10/2009 11:25:21 PM
#2198 trade Forst of all I am very familiar with jabs 06/10/2009 04:52:00 PM
#2197 Jabs, Go through all of Galloway's press releases. trade4rent 06/10/2009 11:53:53 AM
#2196 Unfortunately the shorters are out and have there jabs 06/10/2009 10:30:19 AM
#2195 had a feeling this was going way down frankie9251 06/10/2009 10:28:03 AM
#2194 bensonhurst brooklyn 70th and bayparkway,got a crew waiting frankie9251 06/10/2009 10:08:05 AM
#2193 http://www.marketwatch.com/story/natural-gas-could-see-sharp-rebound-this-year?s Apprentice 06/10/2009 10:00:05 AM
#2192 sry all, with all of this negative ...i Sbleau 06/10/2009 09:38:31 AM
#2191 trade You make a very valid point... the only jabs 06/10/2009 08:49:13 AM
#2190 Frankie Where in brooklyn are you from... Just what jabs 06/10/2009 08:43:44 AM
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