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Any body know what happen to the ("MOU")
eCORP International, LLC ("eCORP") and GASFRAC Energy Services Inc. ("GASFRAC")
(TSX:GFS) are pleased to announce that they have executed a Memorandum of
Understanding ("MOU") to introduce in Europe the reservoir stimulation
technology using liquefied petroleum gas (propane or propane-butane mix).
GASFRAC has successfully employed this technology in North America, pumping over
1,200 stimulations in reservoirs from Alberta, Canada to south Texas, USA. eCORP
is engaged in exploring for and developing hydrocarbons in Europe, currently
holding a number of well-situated licenses in the premier basins of western
Europe, with discussions under way to materially expand its holdings.
Pursuant to the MOU, GASFRAC and eCORP are negotiating definitive documentation
for joint cooperation to complete market and regulatory research and develop
built-to-suit equipment followed by construction of an initial set of equipment
to be used to delineate the scope of work for full scale development of this
opportunity.
John Thrash, Chairman and CEO of eCORP, noted "The use of liquid hydrocarbons to
enhance production from hydrocarbon reservoirs is a natural solution, and now
that safety concerns have been solved, we believe this game-changing technology
will be embraced by, not only regulators and the industry, but the general
population as well. After all, many of us use propane daily for cooking and
heating our homes. As demonstrated in eCORP's track record, we would apply this
technology only after full consultation with, and acceptance by, local and
regional stakeholders and authorities."
Tom Harris, COO of eCORP, stated "We are very pleased to help bring this
environmentally compatible stimulation technology to Europe which has been
proven in Canada and the US. In the state of New York, it is recognized as a
viable alternative to large water fracs, and should be well received by European
countries. This technology is also applicable for enhancing oil recovery in
conventional reservoirs and can eliminate issues related to fresh water usage
and contamination when stimulating low-porosity formations."
Zeke Zeringue, President and Chief Executive Officer of GASFRAC commented, "We
are excited about the opportunity to partner with eCorp International, one of
the most progressive and innovative companies in the industry. eCorp
International and GASFRAC will jointly bring waterless gelled LPG well
stimulation technology to Western Europe. With their initial groundwork already
completed, this partnership is a perfect fit for GASFRAC's growth strategy
beyond North America.
GASFRAC's Chief Technology Officer, Robert Lestz stated "Delivering value and a
competitive advantage through our propriety technology is at the core of
GASFRAC's business. It is especially rewarding as we continue to demonstrate
unparalleled reservoir and well performance, superior economic results, and
accomplishing it in an environmentally sustainable process."
Founded in 1978, eCORP and its predecessor companies have extensive oil and gas
experience including underground natural gas storage, natural gas
transportation, enhanced oil recovery in conventional reservoirs using propane
and butane, exploration for and production of conventional and unconventional
reservoirs, electric power generation and marketing of electricity and gas. The
company was an early mover in the Marcellus play in Pennsylvania and New York,
USA and recognized its potential while developing its highly acclaimed
Stagecoach Storage project in New York. The company acquired European
prospective acreage after farming out holdings in the Marcellus. The company's
world class management team expects to apply its broad background in Europe to
develop oil and gas fields, gas storage and power generation. Linking with
GASFRAC provides an excellent vehicle for introducing an environmentally
sensitive technology to allay concerns about excessive usage of fresh water and
potential aquifer contamination because the process needs no fresh water.
GASFRAC is an oil and gas technology and service company headquartered in
Calgary, Alberta, Canada, and the sole provider of waterless gelled LPG
fracturing technology in North America.
The Company will host a conference call on Thursday August 9, 2012 at 9:00 a.m.
MT (11:00 a.m. ET) to discuss the Company's results for the second quarter of
2012.
2012 results on Wednesday August 8, 2012 after the close of market.
You probably have all of these questions answered by now, but:
- The company website is www.gasfrac.com
- They're based in Alberta and are traded on the TMX as GFS and in the US as GFSVF
- They're not a startup. They've fracked well over 1000 wells and will produce several hundred million dollars in revenue this year. Revenues in recent quarters have been running at roughly 150% year on year growth.
- The stock is lightly traded, and they haven't done a great job in getting properly into the markets. To get the news, read the company website and the TMX (http://tmx.quotemedia.com/company.php?qm_symbol=GFS&locale=EN)
- The best message board at the moment is: http://finance.groups.yahoo.com/group/gasfracstock/
Anyone else here? I just heard of this stock and live in the middle of the greatest potential find in the US - the Marcellus and Utica Shale in Eastern Ohio and Western PA and a friend of mine told me about GFS process and I think it will eventually catch on becuase the fracking chemicals and frack water disposal is not required in their method. The question is - where do you buy into this? Still seems high at 4.20 to me for a start up stock.
Is that a bid/ask or is my eyes playing tricks?
http://www.gasfrac.com/pressreleases/GASFRACappointsCOO.pdf
Tons of experience here and nearing a good entry point in a very hot field.
GASFRAC Energy Services Inc. Announces Trading on the Toronto Stock Exchange
GASFRAC Energy Services Inc. (TSX VENTURE:GFS) ("GASFRAC" or the "Corporation")
is pleased to announce that the common shares of GASFRAC will commence trading
on the Toronto Stock Exchange on or about June 17, 2011, under the Corporation's
existing trading symbol "GFS". As of market close today, June 16, 2011, the
common shares of GASFRAC will no longer trade on the TSX Venture Exchange.
GASFRAC is an oil and gas service company headquartered in Calgary, Alberta,
Canada. GASFRAC has developed new technology, the "LPG Fracturing Process", to
enable wells to be fractured safely with liquefied petroleum gas ("LPG"), more
specifically propane and butane. GASFRAC's primary business is to provide LPG
fracturing services to oil and gas companies in Canada and the USA.
GASFRAC Energy Services Inc. ("GASFRAC" or the "Corporation") (TSX VENTURE:GFS)
is pleased to announce that the Toronto Stock Exchange ("TSX") has conditionally
approved the listing of the Corporation's common shares, subject to GASFRAC
satisfying certain customary filing requirements of the TSX. GASFRAC has
submitted materials to the TSX for final approval and expects to receive final
approval in the near future. GASFRAC has made an application to the TSX Venture
Exchange ("TSXV") to voluntarily delist its common shares from the TSXV, such
delisting to be effective as of the date the Corporation's common shares
commence trading on the TSX.
GASFRAC's graduation to the TSX will mark another progressive stage in the
Corporation's continued growth profile. Additionally, the listing of GASFRAC's
common shares on the TSX will provide the Corporation with access to Canada's
largest stock exchange while enhancing GASFRAC's trading liquidity and
visibility within North American capital markets.
GASFRAC is an oil and gas service company headquartered in Calgary, Alberta,
Canada. GASFRAC has developed new technology, the "LPG Fracturing Process", to
enable wells to be fractured safely with liquefied petroleum gas ("LPG"), more
specifically propane and butane. GASFRAC's primary business is to provide LPG
fracturing services to oil and gas companies in Canada and the USA.
FORWARD-LOOKING STATEMENTS:
This news release contains certain forward-looking statements, including with
respect to receipt of the TSX's final approval and the voluntary delisting from
the TSXV, that are based on GASFRAC's current expectations and assumptions which
are subject to certain risks and uncertainties. These risks include but are not
limited to failure to obtain required regulatory approvals. In this news
release, such forward-looking statements can be identified by terminology such
as "intends", "to be", "expected, "anticipates" and similar expressions.
Accordingly, readers are cautioned that events and circumstances could cause
results to differ materially from those predicted, forecasted or projected. Such
forward-looking statements are expressly qualified by the above statements.
GASFRAC does not undertake any obligation to publically update or revise any
forward-looking statements or information contained herein, except as required
by applicable laws.
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GASFRAC Energy Services Inc.(Trading on the TSX-V as "GFS")GASFRAC Energy Services Inc’s. proprietary LPG (Liquefied Petroleum Gas) Fracturing Process utilizes gelled LPG in place of conventional fracturing fluids. The unique properties of the LPG fracturing process result in significant savings on material expenses and fracture clean up, as well as increased well productivity. GASFRAC’s LPG Fracturing ProcessOil and gas producers use fracturing to increase the conductivity of an oil or gas zone within a reservoir to improve production and recovery of hydrocarbons.
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