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My bet that if Kodiak doesn't come out with a PR campaign before mid August, it will start to move with the quarterly. All the news was based on Cougar, so Kodiak seems to have been forgotten about.
Getting some life today... finally. Guess the market likes $77 oil....
Corporation's gross production was approximately 305 barrels of oil per day which resulted in a net production rate of approximately 215 barrels of oil per day. This increase was added through optimizations of surface pumping equipment.
plus the 15bpd from the reactivation... 230x$77= $17710 a DAY in revenue... that has to be helping. $6.4mil a year... not bad.
Cougar news: July 19, 2010, 2:10 a.m. EDT · Recommend · Post:
Cougar Oil and Gas Canada Inc. Reactivates Suspended Alexander Oil Prospect
CALGARY, ALBERTA, Jul 19, 2010 (MARKETWIRE via COMTEX) -- Cougar Oil and Gas Canada Inc. ("Cougar Canada" or the "Corporation") /quotes/comstock/11k!coug.f (COUGF 1.60, 0.00, 0.00%) is pleased to announce the successful integrity tests, repair and reactivation of the suspended oil property in the Alexander field.
The property, which is setup as a single well battery, is located in north central Alberta and was acquired in Q4, 2009 as a result of a default by the partner in the Lucy project on a farm-in commitment. When Cougar Canada acquired the property both the pumpjack and the battery needed repairs and general maintenance before the well could be started up and put on production. The repair and startup operations were deferred until after spring breakup to avoid extra costs and potential equipment damage that could result from doing this work in the colder winter weather.
Mr. William Tighe, Chief Executive Officer for Cougar Canada, stated, "We are pleased that the Alexander oil well has resumed production. The repair operations were finished in June and the net production has stabilized at a rate of approximately 15 barrels of oil per day. We will continue to monitor the production and look for ways to optimize operations and lower operating costs as we have done with our Trout Core area. As a result of the new production from Alexander, Cougar Canada's total net production now exceeds 230barrels of oil per day."
About Cougar Oil and Gas Canada Inc.:
Cougar Oil and Gas Canada Inc. /quotes/comstock/11k!coug.f (COUGF 1.60, 0.00, 0.00%) is based in Calgary, Alberta, Canada and a publicly traded oil and gas exploration and production company. The focus is on the exploration and development of Canadian based onshore oil and gas properties. The current projects are Lucy in the Horn River Basin in northeast British Columbia and CREEnergy Joint Venture and area projects located in north central Alberta.
Additional information is at http://www.cougarenergyoilandgascanadainc.com.
Forward-looking Statements: This press release contains forward-looking statements. The words or phrases "would be," "will" "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," or similar expressions are intended to identify "forward-looking statements". The Company's business is subject to various other risks and uncertainties, which may be described in its corporate filings (www.sec.gov). Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place reliance on such statements. Cougar Oil and Gas Canada Inc. undertakes no obligation to update or publicly revise forward looking statements or information unless so required by applicable securities laws.
Contacts:
Cougar Oil and Gas Canada Inc.
Investor Relations: TC Capital
+1(403) 238-8813 (during market hours)
info@cougarenergyoilandgascanadainc.com
www.cougarenergyoilandgascanadainc.comwww.cougarenergyinc.com
SOURCE: Cougar Oil and Gas Canada Inc.
mailto:info@cougarenergyoilandgascanadainc.com
http://www.cougarenergyoilandgascanadainc.comhttp://www.cougarenergyinc.com
The volume is so rediculously low its hard to tell, but todays "down" is on 893 shares... "big spender". $120...
Interesting. With 320 barrels a day x $75 , thats $24000 a day in revenue.
$8,760,000 a year. That is sure to help the bottom line come next 10Q. Think it's just a waiting game or accumulation at these levels for some good news.
Dont think it'd take much to double from here quick! My opinion... the price down has been on super low volume from what I can see...
One thing that I've always seen in this company is that there are is alot of people holding and buying up the sellers quickly.
I would assume that there is belief in this company to turn the corner.
We hit the May 2009 lows this week of .12.
This seems to be a long and drawn out distribution of shares.
Where do you think this goes from here - 12 cents?
Cougar Oil and Gas Canada Inc. Increases Trout Core Land Position by 55%
CALGARY, ALBERTA -- July 12, 2010 -- Cougar Oil and Gas Canada Inc. ("Cougar Canada" or the "Corporation") (OTCBB: COUGF) is pleased to announce the successful acquisition of 2,176 hectares or 5,377 acres of mineral rights at the recent July 7 Alberta provincial land sale.
These leases (mineral rights) are located immediately adjacent to Cougar Canada's existing Trout leases and are all within the identified Trout Core area. The Corporation now holds approximately 15,000 acres of provincial mineral rights.
The lease types are a standard provincial 5 year Petroleum and Natural Gas lease including all formations from surface to basement. These leases will also benefit from the recently announced Alberta royalty incentives, which include a 5% New Well Royalty Rate for the first year of production.
Mr. William Tighe, Chief Executive Officer for Cougar Canada, stated, "We are pleased that Cougar Canada was able to successfully acquire this additional land to continue the development of our Trout Core production area. These parcels were nominated for the sale based on our extensive geological mapping and evaluation of the regional production trends. We will be including this land in our ongoing development operations which is planned to include additional 2D and 3D seismic and vertical and horizontal drilling operations."
About Cougar Oil and Gas Canada Inc.:
Cougar Oil and Gas Canada Inc. (OTCBB: COUGF) is based in Calgary, Alberta, Canada and a publicly traded oil and gas exploration and production company. The focus is on the exploration and development of Canadian based onshore oil and gas properties. The current projects are Lucy in the Horn River Basin in northeast British Columbia and CREEnergy Joint Venture and area projects located in north central Alberta.
Additional information is at http://www.cougarenergyoilandgascanadainc.com.
For further information:
Cougar Oil and Gas Canada Inc.
Investor Relations:
TC Capital
Phone: +1(403) 238-8813 (during market hours)
e-mail: info@cougarenergyoilandgascanadainc.com
www.cougarenergyoilandgascanadainc.com
www.cougarenergyinc.com
Forward-looking Statements: This press release contains forward-looking statements. The words or phrases "would be," "will" "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," or similar expressions are intended to identify "forward-looking statements". The Company's business is subject to various other risks and uncertainties, which may be described in its corporate filings (www.sec.gov). Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place reliance on such statements. Cougar Oil and Gas Canada Inc. undertakes no obligation to update or publicly revise forward looking statements or information unless so required by applicable securities laws.
You can view the Previous News Releases item: Tue Jul 6, 2010, Cougar Oil and Gas Canada Inc. Production Update
You can return to the main News Releases page, or press the Back button on your browser.
Nice report. I've notice an uptick of production reporting through Kodiak's quarterly statements over the last two.
CALGARY, ALBERTA -- July 6, 2010 -- Cougar Oil and Gas Canada Inc.
("Cougar Canada" or the "Corporation") (OTCBB: COUGF) is pleased to announce that as of June 30, 2010, the Corporation's gross production was approximately 305 barrels of oil per day which resulted in a net production rate of approximately 215 barrels of oil per day. This increase was added through optimizations of surface pumping equipment.
Mr. William Tighe, Chief Executive Officer for Cougar Canada, stated, "We are pleased that Cougar Canada continues to show consistent production growth and increasing cash flow and adding value to the corporation and our shareholders. This growth continues along our planned model of executing efficient work programs in our core Trout area."
About Cougar Oil and Gas Canada Inc.:
Cougar Oil and Gas Canada Inc. (OTCBB: COUGF) is based in Calgary, Alberta, Canada and a publicly traded oil and gas exploration and production company. The focus is on the exploration and development of Canadian based onshore oil and gas properties. The current projects are Lucy in the Horn River Basin in northeast British Columbia and CREEnergy Joint Venture and area projects located in north central Alberta.
Additional information is at
http://www.cougarenergyoilandgascanadainc.com.
For further information:
Cougar Oil and Gas Canada Inc.
Investor Relations:
TC Capital
Phone: +1(403) 238-8813 (during market hours)
e-mail: info@cougarenergyoilandgascanadainc.com
www.cougarenergyoilandgascanadainc.com
www.cougarenergyinc.com
Forward-looking Statements: This press release contains forward-looking statements. The words or phrases "would be," "will" "intends to," "will likely result," "are expected to," "will continue," "is anticipated,"
"estimate," or similar expressions are intended to identify "forward-looking statements". The Company's business is subject to various other risks and uncertainties, which may be described in its corporate filings (www.sec.gov). Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place reliance on such statements. Cougar Oil and Gas Canada Inc. undertakes no obligation to update or publicly revise forward looking statements or information unless so required by applicable securities laws.
=======================================================================
Copyright (c) 2010 COUGAR ENERGY, INC. (COUGF) All rights reserved.
For more information visit our website at http://www.cougarenergyinc.com/ or send mailto:info@cougarenergyinc.com Message sent on Mon Jul 5, 2010 at 11:27:56 PM Pacific Time
Low volume, however IMO it is holding... I wouldnt mind seeing it consolidate at .24 for a few days and pop above the 50 day MA which is .247 so this is right at it.... IMO the technicals are still looking upward.
Just need some more news and volume and its off to the races.
http://stockcharts.com/h-sc/ui?s=KDKN&p=D&yr=0&mn=1&dy=0&id=p18708977632
http://stockcharts.com/h-sc/ui?s=KDKN&p=D&yr=0&mn=1&dy=0&id=p41552825018
http://stockcharts.com/h-sc/ui?s=KDKN&p=D&yr=0&mn=1&dy=0&id=p12078497769
Nice... No complaints here. Volume's decent and up! Should make some radar with hopefully a lot of upside potential.
As far as I can tell they have 1 play in New Mexico the rest are canadian.
I hope the current administration doesnt make it worse for domestic drillers but 'someone' is going to have to answer politcally for the mess BP created....
I do have to agree with some recent commentary about the deep drilling, if that were in 700 feet of water, it'd be capped in no time, but at 5000 feet, it's all remote control which is much more difficult...........
Onshore drilling is apparently easy to cap. No easy solution regardless.... just dont put the companies that are here employing americans out of business because of an over seas company.... lets think before we jump this time. :)
KDKN is a Canadian company right? Or do they own something in Colorado? This roll-back could be bad news if we own something here in the US...what are your thoughts?
http://www.bloomberg.com/apps/news?pid=20601087&sid=aY4YB5EfNYKs&pos=8
June 2 (Bloomberg) -- President Barack Obama said the Gulf of Mexico oil spill should send an urgent signal to Congress to complete work on energy legislation, including rolling back “billions of dollars in tax breaks” for oil companies and fostering investments in alternatives to fossil fuels.
Charts are cool technical analysis.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=50807830
Cougar Oil and Gas Canada Inc. Completes Acquisition of All Outstanding Shares of Cougar Energy, Inc to make it a 100% Owned Subsidiary. Cougar Energy, Inc. Closes Asset Acquisition
> Date: Tue, 1 Jun 2010 07:49:48 -0700
>
> CALGARY, ALBERTA -- June1, 2010 -- Cougar Oil and Gas Canada Inc.
> ("Cougar Canada" or the "Corporation") (OTCBB: COUGF) is pleased to
> announce that, on May 25, 2010, it completed the acquisition of the
> balance of the outstanding shares from private individuals under the
> same terms and conditions as previously announced of it's subsidiary,
> Cougar Energy, Inc. ("Cougar Energy")., This makes Cougar Energy a 100%
> owned subsidiary. The legal work has been started to merge Cougar
> Canada and Cougar Energy which will allow the two corporations to save
> additional overhead, administration and legal cost. We will still
> continue to operate in Alberta and British Columbia as Cougar Energy,
> Inc at the field level.
>
> Cougar Canada is also pleased to announce that, on May 28, 2010, its
> private subsidiary, Cougar Energy, closed an asset acquisition with a
> public company to increase the production and reserve value of the
> Corporation's core Trout properties.
>
> The acquisition included additional working interest and a royalty
> interest in seven Cougar Energy operated wells and a royalty interest
> in one non-operated well. The acquisition added approximately 9 barrels
> of net oil production per day and approximately $450,000 of proved
> reserves (reserve value estimate based on Cougar Energy's Dec. 31, 2009
> independent reserve report). The updated ownership and reserve value
> will be included in the Corporations next independent reserve
> evaluation.
>
> The purchase price for the acquisition was Cdn $215,000 and was funded
> from cash flow and Cougar Energy's previously announced credit
> facilities. The existing revenue and the new revenue from planned work
> programs will result in an expected payback of less than 12 months.
>
> As of May 28, 2010, the Corporation's gross production was
> approximately 262 barrels of oil per day which resulted in a net
> production rate of approximately 183 barrels of oil per day.
>
> Mr. William Tighe, Chief Executive Officer for Cougar Canada, stated,
> "We are pleased that Cougar Energy has successfully closed this
> acquisition. This transaction continues one of Cougar Canada's
> objectives of consolidating the ownership in our Trout core area --
> progressively increasing our net back and overall opportunities. The
> growth pattern we have established over the last 6 months continues
> along the planned model.
>
> About Cougar Oil and Gas Canada Inc.:
> Cougar Oil and Gas Canada Inc. (OTCBB: COUGF) is based in Calgary,
> Alberta, Canada and a publicly traded oil and gas exploration and
> production company. The focus is on the exploration and development of
> Canadian based onshore oil and gas properties. The current projects are
> Lucy in the Horn River Basin in northeast British Columbia and
> CREEnergy Joint Venture and area projects located in north central
> Alberta.
> Additional information is at
> http://www.cougarenergyoilandgascanadainc.com.
>
> For further information:
>
> Cougar Oil and Gas Canada Inc.
> Investor Relations:
> TC Capital
> Phone: +1(403) 238-8813 (during market hours)
> e-mail: info@cougarenergyoilandgascanadainc.com
> www.cougarenergyoilandgascanadainc.com
> www.cougarenergyinc.com
>
>
> Forward-looking Statements: This press release contains forward-looking
> statements. The words or phrases "would be," "will" "intends to," "will
> likely result," "are expected to," "will continue," "is anticipated,"
> "estimate," or similar expressions are intended to identify
> "forward-looking statements". The Company's business is subject to
> various other risks and uncertainties, which may be described in its
> corporate filings (www.sec.gov). Statements made herein are as of the
> date of this press release and should not be relied upon as of any
> subsequent date. The Company cautions readers not to place reliance on
> such statements. Cougar Oil and Gas Canada Inc. undertakes no
> obligation to update or publicly revise forward looking statements or
> information unless so required by applicable securities laws.
>
> =======================================================================
> Copyright (c) 2010 COUGAR ENERGY, INC. (COUGF) All rights reserved.
> For more information visit our website at
> http://www.cougarenergyinc.com/ or send mailto:info@cougarenergyinc.com
> Message sent on Tue Jun 1, 2010 at 7:47:28 AM Pacific Time
Update on the chart.. IMO
Well, today looked pretty decent on the chart in my opinion, the ADX is pinching HARD and we are now above the 10 day MA. SO.. a couple more days of confirmation and this could be a nice gainer.
Here's the 30 day chart... looks pretty interesting in my opinion...
http://stockcharts.com/h-sc/ui?s=KDKN&p=D&yr=0&mn=1&dy=0&id=p18708977632
More confirmation it appears to be on the rise...
http://stockcharts.com/h-sc/ui?s=KDKN&p=D&yr=0&mn=1&dy=0&id=p41552825018
I'm just sayin'.... technicals speak... I'm listening!
http://stockcharts.com/h-sc/ui?s=KDKN&p=D&yr=0&mn=1&dy=0&id=p12078497769
Only when I have money to throw at the low...lol.
Dont you love it when you are right? :)
Very nice move here, I hope you added.
DOH!
Disregard....
Charts IMO...
Well the chart has looked better, but it does appear to be leveling off if by no other indication than the ADX and accumulation being conflicting... I'm looking for the ADX to pinch down (continue down) may have already pinched... we'll see.
10 day moving is at .20 so a day or two and we'll be either breaking above or at least holding if the trend continues.
http://stockcharts.com/h-sc/ui?s=KDKN&p=D&b=5&g=0&id=p21332625969
Additionally:
Bollenger bands are rising, and as you can see by the WM% this has been oversold for a while now in my opinion...
http://stockcharts.com/h-sc/ui?s=KDKN&p=D&b=5&g=0&id=p32607381321
Im shooting for (If the trend holds) anything under .20 could be profitable...
do your own DD but I dont see any reason for this to drop too much lower esp with oil still around the $70s level... up big today alone.
good luck and if you disagree, let me know! knowledge is power... B.
More today, and I am hoping it's looking like a bottom... will do the technicals and post my opinion on it shortly. Good to see green but am looking to add more!
I couldn't believe there was only 16k shares traded.
Nobody wants to touch it, right now. Best time to kick the tires.
Seems to be just down on low volume... hard to watch but I'm watching it for a bottom and when it goes I bet it spikes nicely...
Everyone see this PDF from thier website?
http://www.kodiakpetroleum.com/i/pdf/kodiak_letter_to_shareholders.pdf
Interesting looking into the next few quarters....
Looking for a bottom, the candles look interesting...
Daily ADX & PPO's in a pincher mode, should move up from here.
Yes, the bear has gotten people to flee with wreckless abandon.
Looks like people are just selling the downward motion to get out.
Revenue is up and asset value is down.
Ho hum... a whopping 29k in volume... when it pops, I think it will be all buying....
Interesting...
As of December 31, 2009, the average production was 125 bbl/d net of light sweet crude oil at an average operating cost of CAD$20.00 to CAD$25.00/bbl.
As of March 31, our average net production was approximately 150bbl/d. Our overall acquisition costs have dropped from $74K per flowing barrel to approximately $25K per flowing barrel as a result of the reactivation and maintenance work performed on the properties. Continued low risk development work is adding additional production at a cost of approximately $10K to $15K per flowing barrel. Production has increase 17% over previous quarter, Revenue has increased 27% over previous quarter, Operating costs have lowered 37% over previous quarter and operating net backs have increased 120% over previous quarter.
KDKN.OB > SEC Filings for KDKN.OB > Form 10-Q on 18-May-2010 All Recent SEC Filings
http://biz.yahoo.com/e/100518/kdkn.ob10-q.html
Show all filings for KODIAK ENERGY, INC. | Request a Trial to NEW EDGAR Online Pro
Form 10-Q for KODIAK ENERGY, INC.
--------------------------------------------------------------------------------
18-May-2010
Quarterly Report
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION UPDATE
FORWARD LOOKING STATEMENTS
From time to time, we or our representatives have made or may make forward-looking statements, orally or in writing. Such forward-looking statements may be included in, but not limited to, press releases, oral statements made with the approval of an authorized executive officer or in various filings made by us with the Securities and Exchange Commission. Words or phrases "will likely result", "are expected to", "will continue", "is anticipated", "estimate", "project or projected", or similar expressions are intended to identify "forward-looking statements". Such statements are qualified in their entirety by reference to and are accompanied by the above discussion of certain important factors that could cause actual results to differ materially from such forward-looking statements.
Management is currently unaware of any trends or conditions other than those mentioned elsewhere in this management's discussion and analysis that could have a material adverse effect on the Company's consolidated financial position, future results of operations, or liquidity. However, investors should also be aware of factors that could have a negative impact on the Company's prospects and the consistency of progress in the areas of revenue generation, liquidity, and generation of capital resources. These include: (i) variations in revenue,
(ii) possible inability to attract investors for its equity securities or otherwise raise adequate funds from any source should the Company seek to do so,
(iii) increased governmental regulation, (iv) increased competition, (v) unfavorable outcomes to litigation involving the Company or to which the Company may become a party in the future and, (vi) a very competitive and rapidly changing operating environment. The risks identified here are not all inclusive. New risk factors emerge from time to time and it is not possible for management to predict all of such risk factors, nor can it assess the impact of all such risk factors on the Company's business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Accordingly, forward-looking statements should not be relied upon as a prediction of actual results.
The financial information set forth in the following discussion should be read in conjunction with the consolidated financial statements of Kodiak Energy, Inc. included elsewhere herein.
--------------------------------------------------------------------------------
PLAN OF OPERATION
Oil and Gas Leases and Development Rights
As of March 31, 2010, we had approximately 130 80 leases covering approximately 285256,949 gross acres. The typical oil and gas lease provides for the payment of royalties to the mineral owner for all oil or gas produced from any well drilled on the lease premises. This amount typically ranges from 12% to 30% resulting in a 70% to 88% net revenue interest to us.
Because the acquisition of oil and gas leases is a very competitive process, and involves certain geological and business risks to identify productive areas, prospective leases are sometimes held by other oil and gas operators. In order to gain the right to drill these leases, we may purchase leases from other oil and gas operators. In some cases, the assignor of such leases will reserve an overriding royalty interest, ranging from 5% to 15%, which further reduces the net revenue interest available to us to between 55% and 73%.
In Q1, 2010, the Corporation elected to allow approximately 29,000 acres of mineral rights to expire. These mineral rights were leased from the State of New Mexico and had more than a year left on their initial lease term. After reviewing the New Mexico project results to date the Corporation reviewed all of the New Mexico properties and determined this specific acreage was situated too far from the regional carbon dioxide pipeline and it would be unlikely to be developed prior to expiry resulting in additional rental fees and administration costs. The Corporation remains confident that the remaining mineral leases are the most strategically valuable to successfully develop the Sofia carbon dioxide resources.
As of December 31, 2009, approximately 4% of our oil and gas leases were held by production, which means that for as long as our wells continue to produce oil or gas, we will continue to own those respective leases.
In the Trout Area, Alberta as of December 31, 2009, we held oil and gas leases on approximately 7,680 gross acres, of which approximately 320 gross acres (4%) are not currently held by production. The approximate 320 acres had an expiry date in Q4 2009 and an application has been submitted to the regulatory agency to extend the expiry of these leases.
In the Alexander Area, Alberta as of December 31, 2009, we held oil and gas leases on approximately 160 gross acres, of which 0 gross acres (0%) are not currently held by production. There are no expiry issues for this lease.
In the Crossfield Area, Alberta as of December 31, 2009, we held oil and gas leases on approximately 160 gross acres, of which 0 gross acres (0%) are not currently held by production. There are no expiry issues for this lease.
In the Granlea Area, Alberta as of December 31, 2009, we held oil and gas leases on approximately 1,265 gross acres, of which approximately 1,265 gross acres (100%) are not currently held by production. The Granlea oil and gas leases will expire in Q3 2010.
In Lucy, British Columbia as of December 31, 2009, we held oil and gas leases on approximately 1,975 gross acres, of which approximately 1,975 gross acres (100%) are not currently held by production. The Lucy mineral lease was extended as part of an approved Experimental Scheme application to the regulatory agency. The Lucy lease is currently extended indefinitely.
--------------------------------------------------------------------------------
In the Little Chicago Area, N.W.T. as of December 31, 2009, we held oil and gas leases on approximately 199,000 gross acres, of which approximately 199,000 gross acres (100%) are not currently held by production. The Little Chicago oil and gas leases will expire in Q3 2010.
In the Sofia and Speardraw Areas, northeast New Mexico as of December 31, 2009, we held CO2 and oil and gas leases on approximately 47,805 gross acres, of which approximately 47,805 gross acres (100%) are not currently held by production. There are no lease expiries in 2010.
In the Hill County Area, northwest Montana as of December 31, 2009, we held oil and gas leases on approximately 879 gross acres, of which approximately 879 gross acres (100%) are not currently held by production. The Montana leases will expire in Q3 2010.
In the Bison Lake area, northern Alberta as of December 31, 2009, we hold oil and gas leases and development rights, by virtue of farm-out agreements or similar mechanisms, on approximately 17,712 gross acres that are still within their original lease or agreement term and are not earned or are not held by production. The farm-in agreement specifies that we are entitled to earn 100% of whatever leases we can extend as a result of drilling and completion operations. The farm-in leases expire in Q3 2010.
As our projects in Kodiak - EL 413 and Sofia New Mexico - were long term projects and subject to external influences such a commodity prices, pipeline status, overall investment climate and etc, it has been difficult to raise equity financing for such purposes in the last 18 to 24 months. During this time we reduced internal costs to a minimum and continue to hold Kodiak's costs at that level.
Based on advice from the investment community on how to finance going forward and the stage of the projects that Kodiak was at, it was decided to place the CREEnergy project into a subsidiary and finance that project in conjunction with Lucy, as a Canadian conventional Oil and Gas operations based subsidiary. In that way specific financing could be raised with equity initially for this project and then as it matured into non conventional debt and finally into conventional debt instruments.Thus Cougar Energy was born.
To have arranged the private placements into Kodiak at the time of the world recession would have been at such a discount to the already depressed market as to have been very dilutive to the Kodiak shareholders. We tried very hard for many months to arrange financing during those difficult times - in Canada, Europe and various institutions in the USA.
Some of the term sheets offered by the various investment banks would have resulted in a material change of control of the company due to the discount to the share price and the size of the required placement, or the ownership of the actual projects would have changed or both and thus potentially lost opportunities to the existing shareholders. Ultimately we succeeded through hard work and persistence and are succeeding with the plan by making small steps toward the final goal.
--------------------------------------------------------------------------------
We financed the CREEnergy project and Cougar operations, with small private placements with accredited small investors in Canada and Europe as per the regulations, for the first 10 months. Then as the acquisitions presented opportunities, we found a bridge loan and a vendor take back to close the acquisition. Please read the management discussion posted on the Cougar web site.
Subsequently we reached an agreement with OreMore ( Cougar Oil and Gas Canada, Inc) who had previously bought the bridge loan (which had been guaranteed by both Cougar and Kodiak) - to merge Cougar Energy into OreMore in exchange for issuing shares of Oremore to Kodiak and cancelling the bridge loan debt. Thus we retained the project through ownership of shares of and positions on the Board of Directors of Oremore.
The result was Cougar Oil and Gas Canada - who has a strong future and Kodiak retains a 64.52% of the outstanding shares at this time.
Kodiak in the agreements has the rights to retain a majority interest in Cougar Oil and Gas Canada going forward by participating in any financing and as Cougar shows success expected both short and long term, we believe that Kodiak will start to see that reflected in the Kodiak share price.
Canada
Through Kodiak's majority interest in Cougar Oil and Gas Canada, the Company's focus has developed into the definitive projects of:
1. Cougar Trout Properties, Alberta (Core Area) - farm-in and acquired lands in the Trout, Kidney and Equisetum fields;
2. CREEnergy Project, Alberta - mineral leases, exploration and development opportunities within the CREEnergy Agreement and several current and proposed Northern Alberta Treaty Land Entitlement Claims;
3. Lucy, British Columbia - Horn River Basin Muskwa shale gas project; and
4. Other Alberta properties.
--------------------------------------------------------------------------------
The Company expects to finance its future capital expenditure programs and acquisitions with combinations of revenue from current operations, debt instruments, farm-outs, equity financings and divestitures, depending upon what vehicle is appropriate to the capital program/acquisition and the overall market economy. A 6 to 12 month payback will be used to benchmark all such capital programs for financing purposes. A brief description of the Company's properties and activities is described below. For a more detail description of the properties to better understand the planned operations.
Cougar Trout Properties, Alberta (Core Area)
The following is a summary of the various properties plan of developments:
Farmin (June 2009) . A 100% working interest in 28 sections of land in the area of the CREEnergy Project, northwest of Red Earth Creek, Alberta - pay 100% to earn 100% with a 3% gross overriding royalty (GOR) upon earning to the vendor.
A drilling program has been prepared for one initial well and two subsequent wells. Contingent upon financing, this program will be evaluated and funds allocated to the best net back between this gas project and the other oil developments. A minimum 18 month payback criteria will be used prior to assigning capital to this project.
Private Company Production and Property Acquisitions (2009) . The existing infrastructure and initial production on the acquired properties enables the Company to realize higher netbacks and focus on deploying capital to the drill bit and development work. Additional details include:
? The existing area field personnel agreed to transfer to Cougar with their many years of hands-on field expertise thereby greatly reducing the risk of downtime due to lack of qualified field personnel.
? The existing pipeline systems provides direct access to sales of oil products, which results in the access to sales being in the Company's control and not third party pipeline operator dependent.
? There are 2 batteries for the handling and treating of oil and the disposal of the produced water. The batteries are capable of handling an estimated 2,500 bbl/d with nominal refit costs.
? Many of the wells are piped into the batteries to reduce the need for trucking, which is important for the higher water cut wells. These pipelines can be expanded to further lower operating costs.
? There are 37 wells, which 13 were producing as of December 31, 2009. The 20 suspended wells are workover or recompletion candidates.
? The produced water can be used for future water floods, which regularly have been shown to add substantial incremental production in the area.
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Metrics for review of progress
As of December 31, 2009, the average production was 125 bbl/d net of light sweet crude oil at an average operating cost of CAD$20.00 to CAD$25.00/bbl.
As of March 31, our average net production was approximately 150bbl/d. Our overall acquisition costs have dropped from $74K per flowing barrel to approximately $25K per flowing barrel as a result of the reactivation and maintenance work performed on the properties. Continued low risk development work is adding additional production at a cost of approximately $10K to $15K per flowing barrel. Production has increase 17% over previous quarter, Revenue has increased 27% over previous quarter, Operating costs have lowered 37% over previous quarter and operating net backs have increased 120% over previous quarter.
Subsequent Maintenance and Development Programs
Prior to the production and property acquisitions, the Company conducted a detailed review of the properties in public domain petroleum records over last 5 to 7 years and with a comparison to other operators in the area. The Company's operations and geological teams have determined a strong potential to increase production through normal maintenance activities. These activities include utilizing existing technologies that have proven success in similar maintenance and optimization programs in the area. Some of these normal maintenance activities include and are not limited to:
? Acid wash of perforations
? Use of enhanced chemical treatment programs to improve inflow
? Setting of bridge plugs to seal off water
? Cleanouts
? Re perforating
? Drill out plugs and open up previously unproduced zones
? Repairs to wells with separated rods
? Plug off water sources with no resulting loss of production
? Pump and well site equipment optimization
? Waterflood programs - future
? Horizontal drilling - future
Continued Development of the Trout Area Through Systematic Operational Controls
As we develop our maintenance program through the Trout Area lands in north central Alberta, we will continue to utilize our economical model to drive efficiency and minimize costs. We will focus our maintenance program on industry best practices and continued technological enhancements to maximize our return on assets and capital deployed.
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Consolidate the Trout Area
To further enhance our economies of scale, we intend to be aware of other acquisition opportunities in the area. Consistent with our strategy to improve our financial flexibility, we intend to make acquisitions utilizing either equity and/ or debt instruments. See subsequent notes re post March 31 developments
Develop Trout Area Assets
We intend to prudently develop this acreage position by redeploying cash flow generated from area operations. We are currently evaluating a series of developmental drilling locations in addition to several step out drilling locations on land we currently hold, with the goal of adding incremental reserves and cash flow. As we are focused on locations in areas with existing infrastructure, we expect our development plan to have a near-term material impact on our proved reserves and production. We believe investing in this area is the most expedient way for us to improve our financial flexibility and return on capital.
We also plan to acquire addition lands through the defined provincial posting process - as we do geological studies, additional targets within the overall seismic which we purchased covered areas is showing some opportunities - although higher risk, but higher rewards are possible and potentially to add production via the drill bit at an estimated find and development cost of $5 to $7 per barrel..
CREEnergy Project
Current Status
Cougar continues to actively work with CREEnergy as they assist their First Nations communities to achieve the goal of independence though the Treaty Land Entitlement (TLE) claim with the Federal Government of Canada and the Province of Alberta. Although delayed several times due to regulatory processes, this process is nearing completion.
We endeavor to engage with CREEnergy on a weekly basis through conference calls, status email and other written communication, monthly in person status meetings, and a continual dialogue to foster open communication.
At this time Cougar Energy is under negotiations to vend part of their mineral leases located within the TLE claim to CREEnergy for fair market value, to provide direct ownership and participation to the communities in the Oil and Gas mineral rights and associated operations. These discussions are reaching a mature level and legal is formalizing the documentation.
This proposed transaction will continue to provide positive growth for the relationship going forward and will provide cash flow opportunities for CREEnergy and thus the communities.
--------------------------------------------------------------------------------
Due to delays in the land claim process, and in order to move Cougar Energy forward in the interim, Cougar looked to other opportunities in the Red Earth area. .
Lucy, Northern British Columbia
Cougar Energy, Inc is the operator and 80% working interest owner of a 1,920 acre lease located in Northeastern British Columbia. The Company believes the lease is situated on the southeast edge of the Horn River Basin and the Muskwa Shale gas prospect. Industry continues to show increased interest in this shale gas play with several comparisons of the Muskwa Shale gas potential as an analogue of the Barnett Shale gas potential.
The prospect is still in the early stages of delineation and no assurance can be given that its exploitation will be successful. Further appraisal work is required before these estimates can be finalized and commerciality assessed.
Depending upon commodity prices - the severe turn down in gas prices over the past year have made natural gas projects difficult to show returns on investment
- especially high capital cost project such as the Horn River Basin - despite the very large reserves and recovery rates attributed to the Muskqua shales. The current $4-$5 gas prices limit the return this project in the short term and thus the financing availability.
The current intention is to perform the previously planned work programs for the license (as new information and financing becomes available, the plans may be revised). In lieu of obtaining our own financing, we are actively enlisting JV partners to move the project forward by way of divesting part of our interest.
Cougar Central Alberta Producing Properties
Private Company Production and Property Acquisition (completed October 1, 2009)
1. 2 producing oil properties in the Crossfield and Alexander fields in Central Alberta.
2. 100% working interest in the Crossfield property - 1 producing well with single well battery with approximately 5 barrels per day (bbl/d) net production - production continues to be stable with no capital commitment required.
3. 55% working interest in the Alexander property - 1 shut in oil well with a single well battery, 1 suspended well. Expected production of approximately 10 bbl/d net production upon restarting shut in oil well after spring break up.
In Summary
The Company plans to aggressively develop and explore its newly acquired Cougar assets. A maintenance and development program was planned for the winter work season of 2009/2010 which was implemented and which attained the expected goals on a well by well basis, however we are now limited in some cases by pump sizes and after break up will start moving pumpjacks and downhole equipment to better take advantage of the workover programs performed in February and March. Addition maintenance programs will be initiated in post break up through into the following winter. Drilling programs will be planned for the fourth quarter of 2010 where the seismic data supports the effort and expense and further drilling will be based on the results of the initial wells.
--------------------------------------------------------------------------------
Little Chicago - Northwest Territories
The Company is the operator and largest working interest owner of the 201,160 acre Exploration License 413 ("EL 413") in the Mackenzie River Valley centered along the planned Mackenzie Valley Pipeline.
Upon review of the overall status of all projects in the area, current commodity prices being much below levels required to justify development on this and other projects, continued delay of the Mackenzie Valley Pipeline Project, the risk that any discovered gas reserves would be indefinitely stranded without such development, the Company continues to seek partnership in the development; however, the deteriorating economic factors make this difficult. We will still retain the confidential proprietary seismic data for future assessment of the "Little Chicago Prospect" and the Company will determine the best way to monetize that asset through either divestiture and/or possibly renominating the prospect when conditions are more appropriate.
Province/Granlea - Southeast Alberta
No budget is assigned to this prospect.
UNITED STATES
New Mexico
Through its acquisition of Thunder, the Company acquired a 100% interest in 55,000 acres of property located in northeast New Mexico. Additional land acquisitions have increased the Company's land position to approximately 79,000 acres. These lands have potential for natural gas and CO2 and oil and helium resources at shallow depths.
Due to lower commodity prices for Permian Basin oil (the primary market for CO2) and CO2 contract prices (deliverable into the Denver City Hub), aggressive development is not financeable at this time. Aside from ongoing maintenance of leases and wells, the Company is focusing its efforts on updating engineering models, and business opportunities so that when prices recover and investment markets improve, we will have the opportunity to move this project forward. The leases are 10 year leases and no expiries are imminent. A budget of $500,000 CAD has been assigned to this project in order to further define the reserves and the potential deliverability of those reserves in order to add definition to the engineering and economical prospect.
In Q1, 2010 the Company has made the strategic decision to allow some New Mexico properties to expire rather than continue to pay additional rental costs on lands which are not located in what has been identified as the most valuable project areas. These lands can be renominated for leases in the future if the Company determines they will be required.
--------------------------------------------------------------------------------
FINANCIAL INFORMATION
Operating Results
Kodiak continues production on its developed assets which began in the fourth quarter of 2009. As there are no comparisons for this quarter year over year the information set forth is for this present quarter only, three months ending March 31, 2010.
Net Loss for the three months ended March 31, 2010 totaled $4,612,285 (March 31, 2009 - $500,535). The increase loss is mainly due to the one time asset write down of a un developed US property in the amount of $4,144,000.
General and administrative for the three months ended March 31, 2010 was $652,530 (March 31, 2009 - $493,462). The increase is due to the increased costs associated with being an operating entity.
Interest expense for the three months ended March 31, 2010 was $76,260 (March 31, 2009 - $211). The increased is as result of the company using banking debt to help finance daily operations. Prior to this period the Company did not have the any operating lines of credit.
Depletion, depreciation and accretion including ceiling test impairment write-downs includes the cost of depletion and depreciation relating to production from producing properties in the quater, ceiling test impairment write-downs and the cost of depreciation relating to office furniture and equipment. Costs attributable to certain US cost center properties were determined to be unsupportable and, as a result, asset write-downs of $4,144,000(March 31,2009 - Nil were recorded and included in this expense.
Financial Condition and Changes in Financial Condition:
The Company's total assets have decreased to $29,017,258 as at March 31, 2010 from $31,943,001 as at December 31, 2009, and from $36,831,864 March 31, 2009. These decreases are sustainably due to write-downs of its unproved properties of $4,410,309. Total assets consist of cash and other current assets of $854,938 (December 31, 2009 - $296,153).
The Company has included in oil and gas properties evaluated and unevaluated properties. Evaluated properties net of accumulated depreciation, depletion and amortization was$5,239,357 (December 31, 2009 - $4,657,403l). Unevaluated properties decreased to $22,548,799 from $26,081,786 on December 31, 2009. The major difference write-down of undeveloped properties $4,410,309.
There was requirement for a ceiling test write down for the period ending March 31, 2010.
Other assets increase marginally to $306,458 as of March 31, 2010 (December 31, 2009 - $296,153 3). The increase is due to the increase in deposit held by regulatory bodies for operational and environmental deposits.
--------------------------------------------------------------------------------
Our total current liabilities increased $294,141 to $4,745,669 (December 31, 2008 - $4,451,528). The net increase is due to increases in accounts payable and current portions of long-term debt and a decrease in notes payable. Accounts payable and accrued liabilities increased to $3,046,835(December 31, 2009 - $2,548,661). The increase is due to increased work activity during the quarter and capital spending. Notes payable were paid out in the quarter and decreased . . .
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The golden market rule....
The market will be more patient then you ever will be.
I will wait; hope that I don't wait too long...
Might be. They got hit with the oil price slump today, just like last March--April when there was no justice for KDKN.
We could be up for a short term gain, then plummet.
Could be a buying opportunity here, but am cautiously watching the overall market - looking like a major correction may be on the horizon.
Anyone think this will get to around .22 or lower? If so, that could be a great place to load up...
Yes - up on a down market day - something is happening...
Something must be cookin... volume of 660k today, and avg is 87k. Volume proceeds price.???... HUMMMMMMMMMMM Wish I could've added in the .25s to .29s....
No news on the wires. up 10%
Well after reading the 10K, I noticed that the major part of the loss was asset write downs and land aquisition. I was in Warren Oil, when they had their asset writedown which tanked the stock from the mid 3 dollar range down to about .4.
I think that the most important news out of the 10K was the production numbers for the last quarter of 2009. Looks like they are finally starting to get production going, which should increase quarter to quarter.
Looks like this company is moving from development stage to production.
A couple of production PRs and this stock should start to rise.
Looks like you got it briefly after the 10k. :) Now we need the news to carry it UP! Interesting reaction, didnt tank so that's positive...
Kodiak Investors Get 65% Ownership in Cougar Oil & Gas
***********Interesting tidbit that popped into my inbox today...*********
Zurich, Switzerland, March 3, 2010 -- Ernest C. Schlotter, a senior analyst with InvesTrend affiliate SISM Research and a four star analyst according to StarMine, has released a Company update for Kodiak Energy, Inc. (OTCBB: KDKN) and on its majority holding, Cougar Oil & Gas, a producing E&P company.
According to the report:
Kodiak Energy's subsidiary, Cougar Energy just recently became a publicly traded entity under the symbol (OTCBB: COUGF). As a result, Kodiak reduced its debts and holds the majority in Cougar Oil & Gas. If an investor owns Kodiak shares, he automatically gets a 65% ownership in Cougar – a producing E&P company with focused activities in the core areas in Central Alberta and the Horn River Basin in British Columbia. GLJ Petroleum Consultants from Calgary performed an independent reserves assessment and evaluation of the oil properties of Cougar Energy Inc. on October 1, 2009. Total proved and probable reserves have been calculated to be CAD$10.471 million. Current production is approx. 137 barrels of light sweet crude oil net to Cougar, with estimated gross revenue of $300,000 per month. Within the next six months of implemented maintenance and workover programs, Cougar should reach an estimated production rate of 300 to 500 barrels of oil per day, with a medium- to long-term corporate goal of an estimated 5,000 bbl/d.
In addition, a drilling program has been prepared on Cougar's 18,000-acre land near Red Earth Creek
Alberta, and should commence in 2010. Besides its ownership in Cougar, Kodiak Energy will focus its activities mainly on its "Little Chicago" prospect in the central Mackenzie River Valley in the Northwest Territories and its CO² "Sofia" prospect located in New Mexico. Current commodity prices are unstable and uncertain and exploration expenditure at this time in N.W.T. and New Mexico is very risky, so Kodiak decided to put both projects on hold until commodity prices stabilizes on higher levels. Kodiak owns high quality 2D seismic on approx. 81 miles over the project in N.W.T and spent more than $16 million on land costs as well as $11 million on land costs on its Sofia prospect in New Mexico.
SISM Research is a private investment research firm, based in Zurich, Switzerland, offering independent, fundamental research on public companies since 1995. SISM Research publishes research on micro- to small-cap companies trading on the OTC, NASDAQ and AMEX. SISM Research, as a member-provider of the FIRST Research Consortium, takes steps to ensure the independence and integrity of SISM's published research that exceed those of the CFA Institute Code of Ethics and Standards of Professional Conduct and the CFA-NIRI Guidelines, by following the exacting "Standards for Independent Research Providers", which are also in accordance with guidance set forth by U.S. Securities and Exchange Commission's Advisory
Committee on Smaller Public Companies.
SISM Research
Email: research@sism.com
Website: www.sism.com
Kodiak Energy, Inc.
Email:info@kodiakpetroleum.com
Website: www.kodiakpetroleum.com
Cougar Oil & Gas Canada Inc.
Email: info@cougarenergyinc.com
Website: www.cougarenergyinc.com
Bollinger bands starting to pinch fast on the weekly
we'll see.
Sorry buckster, Ive been out for a few days....looks like we received some news A/H today
Kodiak Energy, Inc. Announces Cougar Energy, Inc. Financing and Closing of Share Purchase Agreement
CALGARY, ALBERTA -- (Marketwire)
03/10/10
Kodiak Energy, Inc. (OTCBB: KDKN) ("Kodiak" or the "Corporation") announces that on March 1, 2010, it closed all transactions related to a loan guarantee enabling Cougar Energy, Inc. ("Cougar Energy"), a private company, to secure financing with a Canadian bank. The closing of Cougar Energy's formal financing agreement (the "Agreement") with a Canadian bank was announced through a press release by its U.S. publicly traded parent, Cougar Oil and Gas Canada, Inc. ("Cougar") (OTCBB: COUGF), on March 2, 2010 and its subsequent U.S. SEC Form 6-K filing. Kodiak provided guarantee to the Agreement between Cougar Energy and the Canadian bank consisting of two credit facilities. The first credit facility is a revolving demand loan in the amount of Cdn$1,000,000 at a per annum rate of prime interest plus 3.5%. The second credit facility is a non-revolving acquisition/development demand loan bearing an annual per annum interest rate of prime plus 3.0%. The loan was drawn down by Cougar Energy on March 1, 2010. All documentation related to the Agreement was concluded prior to the draw down, to be effective at the funding.
Kodiak will continue to function as a parent company with respect to the Cougar Energy assets, now through its shareholder position in Cougar as previously press released on January 26, 2010. Cougar Energy's performance will be reflected on Kodiak's consolidated financial reporting.
On March 1, 2010, Kodiak closed the Share Purchase Agreement (the "Agreement") and completed the acquisition of 64.6% of the common stock ownership of Cougar Canada previously press released on January 26, 2010.
Mr. William Tighe, President of Kodiak, stated, "We are pleased that Cougar Energy has closed this financing to enable the execution of the work program on the recently acquired Trout Area properties. The additional closing of the Share Purchase Agreement also enables Kodiak to continue to add value to shareholders through its ownership in Cougar Canada."
About Kodiak:
Kodiak Energy, Inc. is based in Calgary, Alberta, Canada and a publicly traded oil and gas exploration and development company focused on developing and exploring onshore oil, gas and CO2 properties within North America. Our main prospects are "Little Chicago" located in the N.W.T. and "Sofia" located in northeast New Mexico. Additional information on Kodiak is at http://www.kodiakpetroleum.com.
Forward-looking Statements: This press release contains forward-looking statements. The words or phrases "would be," "will" "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," or similar expressions are intended to identify "forward-looking statements". The Corporation's business is subject to various other risks and uncertainties, which may be described in its corporate filings (www.sec.gov and www.sedar.com). Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Corporation cautions readers not to place reliance on such statements. Kodiak undertakes no obligation to update or publicly revise forward looking statements or information unless so required by applicable securities laws.
Contacts:
Kodiak Energy, Inc.
William Tighe
President and CEO
(403) 262-8044
info@kodiakpetroleum.com
www.kodiakpetroleum.com
TC Capital
Investor Relations
(403) 238-8813 (during market hours)
info@kodiakpetroleum.com
http://ih.advfn.com/p.php?pid=nmona&article=41919541&symbol=KDKN
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Further information relating to Kodiak may be found on www.sedar.com and www.sec.gov as well as on Kodiak's website at http://www.kodiakpetroleum.com.
10Q 12-May-2008 ~ http://biz.yahoo.com/e/080512/kdkn.ob10-q.html
http://investorshub.advfn.com/boards/read_msg.asp?message_id=29199916
Kodiak Energy, Inc. (the "Company) is a publicly traded oil and gas exploration and development company. The Company and its subsidiaries Kodiak Petroleum ULC, Kodiak Petroleum (Montana), Inc. and Kodiak Petroleum (Utah), Inc. are focused on efficient development of oil and gas properties in Alberta, British Columbia, Montana and high impact prospects located in the central Mackenzie River Valley ("Little Chicago prospect") of the Northwest Territories ("NWT") in Canada, British Columbia and the Tucumcari Basin area in northeastern New Mexico. The Company operates in British Columbia under the assumed name of Kodiak Bear Energy, Inc.
http://www.kodiakpetroleum.com/s/Projects.asp
Kodiak Energy is World-Scale Exploration and Development in North America
With a large and diversified land position, which provides both long term high impact exploration potential and medium term development projects :
Little Chicago, NWT Project
Potential for significant exploration and development growth
N.E. New Mexico, U.S. Project
Triple upside through:
1. Developing a large CO2 resource
2. Secondary recoveries from "old" oil positions in the Permian Basin
3. Potentials for new oil and gas and helium on the project properties
Lucy, NE B.C. Project
Substantial long term upside through developing a high impact shale gas play close to existing infrastructure
N.E. Montana, U.S. Project
Shallow shale gas play for lower cost exploration and development
Corporate Office: Kodiak Energy, Inc.
Address: Suite 460, 734 7 Ave SW
Calgary, Alberta
Canada T2P 3P8
Telephone: 1+ (403) 262-8044
Fax: 1+ (403) 513-2670
Bankers: RBC Royal Bank
Address: Calgary, AB
Canada
Auditors: Meyers Norris Penny LLP
Address: Calgary, AB
Canada
The management team of Kodiak Energy, Inc. has extensive oil and gas exploration, development, financial and operations experience. As well, there are excellent working relationships with regulatory bodies both domestic and international. Senior contract services for Geology, Geophysics, and Development Engineering are sourced when required.
Mark Hlady
Position: Director, Chairman Of The Board
Mr. Hlady is an accomplished businessman and recognized name having served three terms as Member of the Legislative Assembly for Calgary-Mountain View of Alberta from June 1993 to November 2004. During his term in the Alberta Legislature Mr. Hlady served on many oil & gas and energy related committees including; Chair of the Standing Policy Committee on Energy and Sustainable Development for the Province of Alberta, Standing Policy Committee for Natural Resources of Alberta, Canadian Energy Research Institute (CERI),US Energy Council - Foreign Representative (Canada), Alberta Representative to the Alaska Highway Pipeline Committee, Alberta/Alaska Bilateral Council and Government Representative to the Alberta Land Surveyors Association. Mr. Hlady has a Bachelor of P.ED from the University of Calgary.
Wm S (Bill) Tighe
Position: Director, Chief Executive Officer, Chief Operating Officer and President
Mr. Tighe's past experience involves more than 30 years in Operations, Maintenance, C&SU, Management and more recently Major/Minor Projects for both Canadian and other International Oil Companies. These experiences were in a variety of field settings from heavy oil in situ, sour gas/liquids plants in Alberta/British Columbia and the sub arctic, design offices, construction, Commissioning and Start up/ operation of large gas/liquids processing in South East Asia. From 2004-2006, Mr. Tighe worked for Suncor Energy Ltd. as a Business Services/Integration Manager of the Growth Planning and Development Group. From 2000 until 2004 Mr. Tighe worked for Petro China International as Operations Development and Commissioning Manager Jabung. Mr. Tighe attended the University of Calgary where he studied general science and computer science. He holds an Inter-Provincial Power Engineering Certification II Class.
Glenn Watt
Position: Director, Vice President Operations
Mr. Glenn Watt was the drilling and completions superintendent for a large royalty trust. He has worked primarily in the Western Canadian Sedimentary Basin. Prior to his current position Mr. Watt worked for other major oil & gas companies as a completions superintendent. He has additional field experience working on drilling rigs in Alberta and British Columbia.
Mr. Watt has an honours diploma in Petroleum Engineering Technology from the Northern Alberta Institute of Technology and a Bachelor of Applied Petroleum Engineering Technology Degree from the Southern Alberta Institute of Technology.
William E. Brimacombe
Position: Chief Financial Officer
Mr. Bill Brimacombe is a Chartered Accountant with over 35 years of financial management and reporting experience in the oil and gas industry. From 2001 until joining Kodiak, Mr. Brimacombe was the Vice-President Finance with AltaCanada Energy Corp., a public oil and gas company with interests in Alberta and Montana. Prior to that Mr. Brimacombe has held positions with various public oil and gas companies as Treasurer, Controller and Financial consultant. Mr. Brimacombe is a member of the Institute of Chartered Accountant of Alberta.
Peter A Schriber
Position: Director
Commerce degree from Switzerland.
30+ years of management positions in banking sector.
Graduated as a Fellow of the Institute of Canadian Bankers.
Fellow in good standing with the Canadian Bankers association.
Vice president and Manager of Corporate Lending at a Swiss Bank in Canada - Retired.
Director and Partner of a large Vancouver Stock brokerage Securities firm.
Extensive experience in merchant and commercial banking, specializing in corporate finance.
Completed numerous financings, and private placements in Europe and North America. Mr. Schriber has established a large financial and institutional clientele in Switzerland.
Independent financial consultant, managing private investor's portfolios, institutional and private investors, active in acquisitions and mergers including in raising equity and debt funds for private and public companies.
Marvin J. Jones
Position: Director
Over 45 years of domestic and International Oil/Gas experience.
30 years at the management level with the drilling/work over contracting industry.
Recent and past assignments:
President of Trinidad Drilling
VP of Challenger International Services
VP of Thomson Industries
CAODC Honorary Life Membership Award
President of CAODC, and many other charitable and sports public organizations
Advisors to Board
Peter Gross
Peter Boyd
Greg Cave
Outstanding
106.7 mil
Float
77.9 mil
http://stockguru.com/profiles/hybr/news.php?qm_page=15399
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