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Looks like AMEP is on the "pre gold rush" list.
http://www.investorshub.com/boards/read_msg.asp?message_id=12436520
ADMIRAL BAY PROVIDES OPERATIONAL UPDATE
Centennial, Colorado 28 July 2006
Admiral Bay Resources Inc. (TSX.V: ADB) is pleased to provide an update on the ongoing development of its unconventional gas projects in Kansas and Pennsylvania.
Admiral Bay's 2006 Development Program is now well underway. Since the end of December 2005, the Company has drilled over 120 wells which has focused development at the Shiloh and Mound Valley projects. Drilling under the Development Program is now approximately 30 days ahead of schedule for the year.
Admiral Bay has a total of 80 wells connected to the pipeline and selling gas. The Company is now beginning to catch up on completions that have been delayed from earlier in the year, due to severe weather conditions which limited field access. In order for the Company to minimize development costs, especially in times of lower gas prices, Admiral Bay has taken the prudent approach of not using bulldozers to move heavy equipment during periods of severe weather, but to limit field access and to catch up in better weather periods. This methodology reduces well development costs significantly. The Company is currently fracing 5-8 wells per week, as pressure pumping services are currently in tight supply with the amount of development activity taking place in the Cherokee Basin. Once this fracing process is complete, the wells are connected to the pipeline and put online, generally within 7 days.
Since May at the Mound Valley project, the Company has drilled more than 35 wells in anticipation of its new compressor/tap facility being completed. This week Admiral Bay is finishing five road bores to run its gas and water pipelines under the county roads. This is the final piece required for the project to begin selling gas directly into the Southern Star Pipeline through its own tap, increasing the Company's netback by over 50%. This part of the project has been delayed for over a month while the Company has been awaiting county approval and additional equipment to arrive. Additionally at the project, Admiral Bay has entered into an agreement with a third party to take their gas production of up to a 1 MMCFGPD. Under this contract Admiral Bay receives a fee equal to 30% of the dollar amount it receives for the third party's gas sales. The Company expects to begin taking gas under this agreement within 60 days.
At the Shiloh project, the Company has drilled 82 wells since the end of December, with 41 of the wells on line and dewatering. The system is presently at or near maximum in terms of gas sales. The Company is expecting the delivery of a third compressor over the next two weeks that will increase its sales capability from 1.6 MMCFGPD (million cubic feet gas per day) to 3.1 MMCFGPD. Delivery of this compressor was expected in early July, but has been delayed until the middle of August, due to availability.
At the Devon Project, Admiral Bay and its partners, through its partly owned subsidiary, Bourbon County Pipeline, has increased third party purchases to 500 MCFGPD. Within two weeks a second compressor should be added that will increase sales to a maximum of 1 MMCFGPD from third parties. Both third parties continue to add new wells at their respective project areas.
At the Santa Rita project, the Company is pleased to announce that both the Huntington 12-22 and Huntington 16-20 wells have been drilled and cased. Initial results from drilling and desorption indicate that the lower coals contain sufficient gas to warrant testing. Desorption of the coals will continue over the next month as potential preparations for completion continue.
At Revloc project in Pennsylvania, permits to drill have been submitted for a five well pilot program. Approval of the permits, if no issues are raised by the State of Pennsylvania, are expected by the end of August. Due to rig availability in the area, drilling companies will not generally commit to drilling wells until permits are in hand. Once these permits are approved, the Company will be able to get into one or more drilling companies drilling order. The company still expects to have the wells drilled and completed some time in the fall.
Admiral Bay Resources Inc. (www.admiralbay.com) is an emerging unconventional gas production company focused on the development of projects in the Cherokee Basin in southeast Kansas and the Appalachian Basin in Pennsylvania. Admiral Bay is listed on the TSX Venture Exchange under the symbol ADB
Kingdom of Saudi Arabia Grants International Power Group Ltd. License to Construct Waste-to-Energy Plants in the Kingdom
Tuesday July 18, 11:18 am ET
CELEBRATION, Fla.--(BUSINESS WIRE)--July 18, 2006--International Power Group, Ltd. (IPWG-Pinksheets) announced today that on July 18 2006, IPWG was granted approval to commence construction of waste-to-energy plants in the Kingdom. The license, which is renewable in 3 years terms, was concurrently issued by the following three Saudi Arabian authorities: the Director of General Administration of Assessments and Environmental Qualifications, the Director of Licensing and Technical Follow-up Administration, and the General Directors of Meteorological and Environmental Protection.
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Peter Toscano, IPWG's CEO stated "We are extremely pleased and honored to obtain the approvals from all three Saudi authorities. We believe this approval from Saudi Arabia is an indication that our plan to have IPWG waste-to-energy plants constructed and operating throughout the world is well on its way". Mr. Toscano further commented, "This approval allows IPWG to fulfill its commitment to providing solutions for the Kingdom's waste disposal, electric and water needs." IPWG expects to commence construction of waste-to-energy plants in Saudi Arabia by the end of 2006, in all corporation with term and conditions set forth by the Saudi government.
About International Power Group, Ltd.
International Power Group, Ltd. is a publicly traded company dedicated to providing multifaceted energy solutions in a sustainable and environmentally friendly manner. Through its worldwide subsidiaries, the company intends to construct and operate waste-to-energy facilities that will render commercial, hazardous, organic, and toxic wastes into billable electricity and potable water.
With offices and/or subsidiaries in the United States, England and Mexico, International Power Group, Ltd. plans to contract with governments and other commercial interests for tipping fees to remove waste products that will be processed in company owned and operated waste-to-energy facilities. As revenue is generated with the in-processing of waste and the out-processing of electricity and water, the company is uniquely positioned to profit on nearly all aspects of plant operations.
Safe Harbor Act Disclaimer: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations, are generally identifiable by the use of words such as "believe," "expect," "intend," "anticipate," "estimate," "project," or similar expressions. These forward- looking statements relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, potential future performance, perceived opportunities in the market, and statements regarding the Company's mission and vision. The Company's actual results, performance, and achievements may differ materially from the results, performance, and achievements expressed or implied in such forward-looking statements.
Contact:
International Power Group Ltd.
Peter Toscano, 407-566-0318
Info@i-pwg.com
www.i-pwg.com
Titan Oil and Gas is currently pursuing 3 well re-entries in Bastrop County Texas. The first re-entry is scheduled very soon as it is believed the rig is headed to the site....if it isn't there already. This drill re-entry program is being funded by a JV partner. Titan will get approximately 17% of the profits from this 3 well project.
Titan Oil and Gas is also gearing up for a 14 well project in Caldwell County Texas. This project timing is currently unknown. As an long term investor, i believe this project will not be delayed. The project is being funded by a JV. The company feels they have a very good chance of successs on this project due to the number of wells they plan to re-enter. percentage of profits to Titan is unknown at this time.
An addition Titan is in the process of securing another JV deal with Klotzman Company. The details of this project are being kept quiet for 60 days. The 60 day quiet period has ended and shareholder updates are expected very soon.
Titan announced previously they have a high volume pump on order for the Stanley Unit project. The high volume pump is designed to pump large volumes of oil and water to produce the oil in a more economical feasible manner. The company needs to address shareholders on this project.
As you can see, numerous news articles could come out on Titan Oil and Gas in the very near future. Once oil production is established and Titan has a steady revenue stream building their bottom line, it is my opinion that shareholders will enjoy substantial gains holding this stock.
It also must be noted to potential investors that Titan Oil and Gas is loyal to shareholders by not increasing the Authorized shares and only increasing Outstanding shares in small increments when funds are needed.
I await the storm that is building. With oil production around the corner and substantial short positions on this stock, the perfect storm is brewing. Excitement for long investors if flowing. Game on.
doc
CanWest Petroleum and Oilsands Quest Announce Management's
Estimate of Bitumen Resources from Initial Drilling Program -
Thursday July 6, 4:35 pm ET
CALGARY, ALBERTA--(MARKET WIRE)--Jul 6, 2006 --
CanWest Petroleum Corporation -
(OTC BB:CWPC.OB - News) and
Oilsands Quest Inc. -
announce management's preliminary estimate of the original
bitumen resources in place (OBIP) in an area covered by Oilsands
Quest's Phase I drilling program in northwest Saskatchewan.
The program consisted of drilling on two blocks on Oilsands
Quest's 100-percent-owned Permit PS00210, located in
Township 95, Ranges 24 and 25 West of the Third Meridian.
It is approximately 50 kilometres (30 miles) east of
Suncor's Firebag operations.
Oilsands Quest's exploration permits were granted under
Saskatchewan's Oil Shale Regulations, 1964, and will
expire in 2009 unless converted to leases or further
extensions are granted.
The preliminary OBIP estimate is 250 million barrels
and is based on the west block, a four-section area of
Permit PS00210 surrounding 13 drill holes.
The east block will require further drilling before
management can provide an estimate.
In making the announcement, Christopher H. Hopkins,
President & Chief Executive Officer of Oilsands Quest,
said, "We continue to be delighted with the results of our
initial drilling program."
He also noted that assumptions about the commercial
viability of resource potential or whether currently
commercial recovery processes will be effective cannot
be made at this stage without further drilling.
The area covered in the OBIP estimate represents
less than one-half of one percent of Oilsands Quest's
total permit lands.
The OBIP estimate was based on the evaluation of cores
and well log data from holes drilled in the Phase I
drilling program.
OBIP is the gross volume of bitumen estimated, at a
particular time, to be initially contained in a reservoir
before any volume has been produced and without regard
for the extent to which volumes will be recovered.
In interim drilling results released on June 14, 2006,
CanWest Petroleum and Oilsands Quest also noted that
eight wells drilled in the best three-section block
had an average pay zone of 19 metres (62 feet),
with one hole having more than 28 metres (91 feet)
of pay.
Grades of bitumen saturation by weight for those eight
wells were up to 18 percent.
Of the 24 wells drilled in the program, 19 intersected
the bitumen-bearing McMurray formation, which represents
an 80 percent success rate.
Oilsands Quest is now focusing on plans for its winter
2006 drilling program, currently budgeted for
$35 million Cdn, which will cover a much larger area
in order to begin to quantify and qualify the nature
of the bitumen resources.
The company has received approval for a 150-well winter
2006 program and will apply for regulatory approval
for an additional 100 holes.
It has eight core drilling rigs committed to the winter
2006 program.
In addition, Oilsands Quest has applied for a summer
2006 exploration program consisting of drilling with
one rig, geophysical evaluation and construction of
additional infrastructure in preparation for the 2006
winter program.
In this area of Saskatchewan, the winter drilling season,
which is dependent on weather conditions, is typically
from November to April.
CanWest Petroleum Corporation owns a 60.7 percent
interest, on a fully diluted basis, in Oilsands Quest Inc.
On June 12, 2006, CanWest Petroleum and Oilsands Quest
announced that the companies entered into an agreement
that provides for the combination of the two companies;
this transaction is expected to be completed on
August 14, 2006.
Forward-Looking Information....
-- Cautionary Note ---
Safe Harbor statement under the Private Securities Litigation
Reform Act of 1995: ---- discussed in CanWest Petroleum
Corporation's various filings with the Securities and Exchange
Commission.
Cusip# 138 748 108
Contact:
Contacts:
CanWest Petroleum Corporation
Jonathan Buick
1-877-748-0914 or (416) 915-0915
investor@canwestpetroleum.com
Source: CanWest Petroleum Corporation
Consumer confidence steady despite $3 gas
By Rex Nutting, MarketWatch
Last Update: 5:14 PM ET Jul 11, 2006
WASHINGTON (MarketWatch) -- U.S. consumer attitudes were little changed in the last week despite rising gasoline prices, according to a weekly index released Tuesday by ABC News and the Washington Post. The ABC/Post consumer comfort index dropped to negative 10 from negative 9 the week before.
The index has been near its long-term average of negative 9 for the past three weeks. The index dipped as low as negative 19 in mid-May, when gasoline prices averaged $2.99 a gallon. Last week, pump prices averaged $3.02, the second highest ever.
"Further price hikes could well take a toll: Confidence has declined, often sharply, in the face of previous gas price spikes," said Tanveer Ali, an analyst for ABC.
ABC said the four-week average of gasoline prices is "significantly" correlated with its consumer comfort index. Gasoline has averaged $2.96 a gallon over the past four weeks, a penny below the all-time record set in May.
In the latest week, 40% of respondents said the national economy was good or excellent, up from 39%. Fifty-nine percent said their own personal finances were good or excellent, unchanged. The buying climate worsened, with 36% saying it's a good or excellent time to buy, down from 39%.
All three subindexes are close to their long-term averages.
TXHG News.....more oil.
TX Holdings, Inc. Completes Acquisition of Contract Area #1 Leases in Eastland County, TX; Brings Total Recoverable Reserves to 55 Million Barrels
MIAMI BEACH, Fla., Jul 11, 2006 (BUSINESS WIRE) -- TX Holdings, Inc. (Pink Sheets:TXHG) has acquired a sixty percent (60%) working interest in the oil and gas leases known as Contract Area #1(C/A 1) in Eastland County, Texas, which consists of four leases (the Roy Adams, the W. Isenhower, the Isenhower, and the Isenhower Estate "C").
Contract Area #1 is approximately 247 acres, has 36 wells on the property with estimated reserves of approximately 19,000,000 recoverable barrels. Of those, 7,200,000 barrels are proven developed behind pipe. Twenty eight of the wells are either currently producing or are producible, the others will be used for injection or supply wells. These wells are very good candidates for either recompletion or work-over, keeping in line with the Company's low production development strategy. Combined with the previously announced leases, this is estimated to increase the Company's initial production to approximately 320 to 400 barrels per day. The Company believes the work can be completed by late summer or early fall. Fully developed after 2 years the C/A 1 leases are projected to produce 2,966 BOPD.
A recent reserve report by Cesar Orosco, American Association of Petroleum Geologists, shows that the leases have pay zones in five areas less than 1,000 feet.
Mr. Mark Neuhaus, Chairman and President of TX Holdings, noted: "The acquisition of Contract Area #1 represents a major step forward for the Company as we continue to apply our acquisition strategy and move toward getting all of the wells in production to build our revenue stream. In conjunction with our earlier acquisitions and breaking escrow on our Private Placement Offering, we believe that Contract Area #1 will provide a long-term revenue stream for the Company. We look forward to commencing work on the properties and implementing our planned development program."
As earlier stated, the Company continues to work closely with its auditors to bring its filings up to date and current in all aspects regarding its filings as a fully-reporting public company.
About TX Holdings, Inc.
TX Holdings, Inc. is an emerging oil and gas exploration, development and production company focusing on opportunities in Texas, Louisiana and Oklahoma. TX Holdings is currently exploring a number of additional potential acquisition targets throughout the region.
Safe Harbor Statement
The information provided in this Press Release does not constitute an offer or a solicitation of an offer for the purchase or sale of any shares or other securities of TX Holdings, Inc. There are substantial risks associated with investing in development stage energy exploration companies. No securities commission or similar authority has in any way approved any of the information contained in this press release.
Forward-looking statements: This press release and other statements by TX Holdings, Inc. may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to the outlook for earnings and revenues, other future financial or business performance, strategies and expectations. Forward-looking statements are typically identified by words or phrases such as "believe," "expect," "estimate," "position," "assume," "potential," "outlook," "continue," "remain," "maintain," and similar expressions, or future or conditional verbs such as "will," "would," "should," "could," or similar expressions.
SOURCE: TX Holdings, Inc.
CONTACT: For TX Holdings, Inc., Miami Beach
Frank Shafer, 586-354-4242
Copyright Business Wire 2006
oil spike = Recession, Chart Day
Chart of the Day
The price for a barrel of crude oil has just surged above the $75 level. While oil is currently at 24-year highs, it is still significantly below the inflation-adjusted highs of 1980. It is also interesting to note that most oil price spikes were a result of Middle East crises and often preceded or coincided with a US recession. Stay tuned…
http://www.chartoftheday.com/20060707.htm?T
ASPN 4.81 - hit 5 yesterday - continues with its near perfect drilling record
Aspen Exploration Discovers Sixth Gas Well in 2006
Sacramento Valley Province, Northern California
Jul 6, 2006 11:15:00 AM
DENVER, CO -- (MARKET WIRE) -- 07/06/06 -- Aspen Exploration Corporation (OTCBB: ASPN), with offices in Bakersfield, California, and Denver, Colorado, announced today a new gas well in the Sacramento Valley gas province of northern California.
The Patterson #27-1 well, located in the Rice Creek Gas Field, Tehama County, California, was drilled to a depth of 5,250 feet and encountered over 100 feet of potential gross gas pay in several intervals in the Forbes formation. Production casing was run based on favorable mud log and electric log responses. This was the eighth successful gas well out of nine attempts by Aspen in this field. Aspen plans to drill one more well in this field this year and has a 23.33% operated working interest in this field.
Aspen also recently drilled and plugged and abandoned a well in the Kirk Gas Field in Colusa County, California.
Aspen drilled six successful gas wells out of seven attempts thus far in 2006, and nine gas wells out of ten attempts in 2005. During the last 5 1/2 years, Aspen has participated in the drilling of 42 operated wells, 36 of which were completed as gas wells, and 6 dry holes which were plugged and abandoned, a success rate of 86%. Aspen currently operates 53 gas wells and has non-operated interests in 20 additional wells in the Sacramento Valley of northern California.
Future news releases will keep shareholders informed of Aspen's continuing progress and drilling activity. Aspen's stock is quoted on the OTC Bulletin Board under the symbol ASPN.OB. For more information concerning Aspen, contact Bob Cohan, President and CEO, in Aspen's Bakersfield office at (661) 831-4669. Aspen's web page can be found at www.aspenexploration.com.
DISCLAIMER
This news release contains information that is "forward-looking" in that it describes events and conditions which Aspen Exploration Corporation ("Aspen") reasonably expects to occur in the future. Expectations for the future performance of the business of Aspen are dependent upon a number of factors, and there can be no assurance that Aspen will achieve the results as contemplated herein and there can be no assurance that Aspen will be able to conduct its operations or production from its properties will continue as contemplated herein. Certain statements contained in this report using the terms "may," "expects to," and other terms denoting future possibilities, are forward-looking statements. The accuracy of these statements cannot be guaranteed as they are subject to a variety of risks which are beyond Aspen's ability to predict or control and which may cause actual results to differ materially from the projections or estimates contained herein. These risks include, but are not limited to: the possibility that the described operations (including any proposed exploration or development drilling) will not be completed on economic terms, if at all, or the estimates of reserves may not be accurate. The exploration for, and development and production of, oil and gas are enterprises attendant with high risk, including the risk of fluctuating prices for oil and natural gas, imports of petroleum products from other countries, the risks of not encountering adequate resources despite expending large sums of money, and the risk that test results and reserve estimates may not be accurate, notwithstanding appropriate precautions. Many of these risks are described herein and in Aspen's annual report on Form 10-KSB, and it is important that each person reviewing this report understand the significant risks attendant to the operations of Aspen. Aspen disclaims any obligation to update any forward-looking statement made herein.
ASPEN EXPLORATION CORPORATION
2050 S. Oneida St., Ste. 208
Denver, CO 80224-2426
Telephone: (303) 639-9860
Fax: (303) 639-9863
Email: aecorp2@qwest.net
Web Site: www.aspenexploration.com
Contact:
Bob Cohan
Aspen Exploration Corporation
Phone: 661-831-4669
Fax: 661-831-4661
Email: robertacohan@gmail.com
URL: http://www.aspenexploration.com
UPDA has a heartbeat
UPDA Update to its Shareholders - Report on Activities during the Second Quarter - Management Insight on the Future
Thursday July 6, 7:00 am ET
JUNO BEACH, Fla.--(BUSINESS WIRE)--July 6, 2006--The Fourth of July marked the first year of operations for Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News). Since we started our first oil and gas subsidiary with less than 2000 acres and fewer than 60 wells, UPDA has made several acquisitions and now controls over 7,000 acres of oil and gas leases with over 150 wells and is generating production from three subsidiaries. Revenues have grown from $29,000 in the 4th quarter of 2005, to $106,000 in the 1st quarter of 2006 to over $1.2 Million in the 2nd quarter of 2006; including a gain on the sale of a partial interest in one lease (full financial results will be reported in our 10QSB within the next 45 days).
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During the second quarter we reorganized the company and laid a solid foundation to ensure that the company will continue to develop as a strong and viable entity that will grow and prosper.
The UPDA subsidiaries report the following:
Canyon Creek Oil and Gas, Inc. now controls over 3000 acres and is producing oil from 6 wells on its Archer lease, oil and gas from 8 wells on its Coleman lease and from one well on the Prideaux lease while the work over of those properties, including 15 wells, continues. Compliance with Texas Rail Road Commission regulations was completed on the Palo Pinto lease and its 26 wells are expected to be brought on line this quarter. Halliburton was retained during the quarter in order to log the Inez well and a petroleum engineer was engaged to advise on its production opportunities. Canyon Creek remains optimistic about the possibilities of this property.
Texas Energy, Inc. has acquired a portfolio of approximately 1300 acres, completed the work over of its Nantz lease and brought it on line and into production. As a result of the successful progress of its work over program, the Texas Railroad Commission has lifted the severance from the Wiechman and the Thresher-Medlin leases and a total of 16 additional wells are expected to be brought on line this quarter.
Catlin Oil and Gas, Inc. completed the acquisition of over 2700 acres in Jack County, Texas on June 2, 2006 and immediately began repairing the extensive gas pipeline and gathering system that management anticipates will deliver substantial revenue from the transportation of natural gas production generated by neighboring operators. A significant increase in the delivery of gas to sale will result from these repairs and the marketing of transportation services will be pursued. The oil and gas professionals of Landmark have commenced the work over of the 65 existing wells on the property and plans are being formulated for the exploration of the Barnett Shale and other pay zones for the drilling of additional wells.
Updated production reports will be available on the UPDA web site (www.universalpropertydevelopment.com) within the next few days and the site is undergoing a complete redesign to provide real time information, multi-level access and further substantial enhancements and methods of communication in the near future.
As part the reorganization of the company, UPDA Operators, Inc. was established in the second quarter. This subsidiary will be responsible for the operation and management of UPDA's production assets. In conjunction with this subsidiary, UPDA is completing the formation of a well services company to manage all workovers, well maintenance and future drilling programs. This subsidiary will be staffed with very capable oil and gas personnel. The processes to be employed by these two subsidiaries will guarantee the aggressive and consistent pursuit of UPDA's ambitious business plan.
A professional geologist has been added to UPDA's management team and a petroleum engineer has been retained as a consultant to advise on technical matters. An assistant COO has been assigned to monitor each subsidiary and ensure the proper execution of the business plan in the field. New relations have been forged with investment bankers, and other professionals crucial to the company operations.
Preparation of an Independent Reserve Report of UPDA's oil and gas assets has been initiated. This report will significantly impact UPDA's balance sheet and should assist investors and shareholders in determining the market value of our company.
In summary, UPDA has established a scalable management formula for the internal analysis, operation, maintenance, development and expansion of oil and gas fields of all sizes and potential. As a result, prospective acquisitions will be analyzed by a management team including geologists and engineers and completed acquisitions will be managed, serviced and drilled by competent oil and gas professionals. Finally, through the state of the art internet applications in development, all properties will be monitored by a real time system that will allow management to immediately determine the status of all production and operations via the internet.
As shareholders and sentinels of UPDA, the management and board of directors are well aware of the decrease in our company's market cap and we are in diligent pursuit of programs and initiatives designed to improve and enhance shareholder value. From the business and operational side, we have streamlined and reorganized in order to expand control, decrease expenses and maximize revenue. From the communications side, we are building a state of the art website and formulating an extensive public relations program which will be coming into focus during the next two quarters.
Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or described pursuant to similar expressions.
Contact:
Universal Property Development and
Acquisition Corporation
Investor Relations
Bradford Moore, 561-630-2977
info@updac.com
wave, they are working thru JV's and cooperative relationships to fund the projects they have going. They are currently setting up to reenter 3 wells in Bastrop County with a JV. They will be starting a program in Caldwell County with another JV to reenter 14 wells. They also have another agreement with another JV which has been PR'd but is going thru a quiet period of 60 days. They will announce the details of this venture shortly after july 11th. that is when the 60 days are up.
currently, they are not pumping hardly any oil. less than 10 barrels a month. if they get a few good hits the pps will rise accordingly. Titan is getting a small piece of the pie on some of the arrangements but they don't have to dilute the share structure to get the job done. it is a win win situation for the investor IF they strike some oil.
hope that helps...
doc
What is the best sub-penny O&G play?
I have lots of BIGN and am looking for something cheaper than .04 to research?
Titan Oil and Gas, Inc.-Titan Acquires Rights to Develop and Produce 14 Oil Wells [GDNVLLJ]
CCNMATTHEWS
Titan Oil and Gas, Inc.
June 29, 2006 - 09:20:26 AM
Titan Oil and Gas, Inc.-Titan Acquires Rights to Develop and Produce 14 Oil Wells
SAN ANTONIO, TEXAS--(CCNMatthews - June 29, 2006) - Titan Oil and Gas, Inc. (TNOG:PK) is pleased to announce that it has obtained the rights to develop and produce a total of 14 oil wells in Caldwell County, Texas.
The anticipated cost for workover of an initial 4-well package is $75,000. If successful, net cash flow from the first 4 wells will be used for a workover of the remaining wells on the lease, until all 14 wells are in production.
Titan CEO John Haylock comments: "We are pleased to have acquired the rights to develop this package of wells. With the development plan spread over a number of wells, we feel that we are lessening risk while being able to proceed at a reasonable cost."
About Titan Oil and Gas, Inc. - Titan is an energy company engaged in oil and gas development, drilling and production. Titan follows a conservative business model, redeveloping oil and gas fields with a history of production, while expanding into exploration and development of new properties.
Certain information included in this communication (as well as information included in oral statements or other written statements made or to be made by Titan Oil and Gas, Inc.) contains statements that are forward looking, such as statements relating to the future anticipated direction of the Oil and Gas Industry, plans for expansion, various business development activities, planned capital expenditures, future funding resources, anticipated sales growth and potential contracts. These forward looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual operations or results to differ materially from those anticipated.
FOR FURTHER INFORMATION PLEASE CONTACT:
Titan Oil and Gas, Inc. Investor Contact (503) 618-0370 or Toll Free: 1-888-601-9983 info@titanoilandgas.com www.titanoilandgas.com 29Jun06 13:20 GMT
Source CCN CCNMatthews
Categories: OIS TMN MST/I/OIS MST/L/EN MST/S/TMN TGT/CCN
DBRM news Daybreak Enters Into Oil Sales Agreement
Wednesday June 28, 3:56 pm ET
SPOKANE, Wash., June 28 /PRNewswire-FirstCall/ -- Daybreak Oil and Gas, Inc. (OTC Bulletin Board: DBRM.OB - News) a Washington Corporation, today announced that Daybreak has entered into an agreement to sell its oil production from the F-1 well located in NE Louisiana. Daybreak will transport the oil production via truck to a local refinery and will not incur any transportation costs under the agreement.
Daybreak in other news today announced it has initiated the preparation involved with the permitting process for a drilling location on the North Schuteston project in St. Landry Parish, Louisiana.
The Richter No. 1 Well will test a low risk 3-D seismic supported anomaly. A pipeline is located approximately 2 miles from this well location.
For information about Daybreak Oil and Gas, Inc., please contact:
Eric Moe Telephone: 509-467-8204
Email: emoe27@aol.com
Mike McIntyre Telephone: 604-484-6243
Email: mmac10@shaw.ca
"Safe Harbor" Statement under Private Securities Litigation Reform Act of 1995: Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Information contained herein contains "forward-looking statements" which can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "should," "up to," "approximately," "likely," or "anticipates" or the negative thereof or given that the future results covered by such forward looking statements will be achieved. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Source: Daybreak Oil and Gas, Inc.
ASPN 4.65 - continues w/ near perfect drilling record. This is one to get in to take advantage of the natural gas price anomaly.
Aspen Exploration Discovers Fourth Consecutive Gas Well
Sacramento Valley Province, Northern California
Jun 28, 2006 12:08:00 PM
DENVER, CO -- (MARKET WIRE) -- 06/28/06 -- Aspen Exploration Corporation (OTCBB: ASPN), with offices in Bakersfield, California, and Denver, Colorado, announced today a new gas well in the Sacramento Valley gas province of northern California.
The Ridge #1-15 well, located in the Rice Creek Gas Field, Tehama County, California, was drilled to a depth of 5,755 feet and encountered over 100 feet of potential gross gas pay in several intervals in the Forbes formation. Production casing was run based on favorable mud log and electric log responses. This was the seventh successful gas well out of eight attempts by Aspen in this field. Aspen plans to drill two more wells in this field this year and has a 23.33% operated working interest in this field.
Aspen also tested one of the Forbes intervals in the recently drilled WGU #14-8 well located in the West Grimes Field, Colusa County, California at a stabilized flow rate of approximately 400 MCFPD.
Gas sales are anticipated to commence this week from five recently drilled gas wells. Three of these wells are operated by Aspen (Zimmerman #22-2, Morris #1-13, and Street #1-3), and two are non-operated wells located in the Grimes gas field.
Aspen currently has 3 drilling rigs operating on its various prospects located in the in the Sacramento Valley of northern California and the San Joaquin Valley in central California.
Aspen drilled ten successful gas wells out of ten attempts in 2004 for a 100% success rate, and nine gas wells out of ten attempts in 2005. During the last 5 1/2 years, Aspen has participated in the drilling of 40 operated wells, 35 of which were completed as gas wells, and 5 dry holes which were plugged and abandoned, a success rate of 88%. Aspen currently operates 56 gas wells and has non-operated interests in 20 additional wells in the Sacramento Valley of northern California.
Future news releases will keep shareholders informed of Aspen's continuing progress and drilling activity. Aspen's stock is quoted on the OTC Bulletin Board under the symbol ASPN.OB. For more information concerning Aspen, contact Bob Cohan, President and CEO, in Aspen's Bakersfield office at (661) 831-4669. Aspen's web page can be found at www.aspenexploration.com.
DISCLAIMER
This news release contains information that is "forward-looking" in that it describes events and conditions which Aspen Exploration Corporation ("Aspen") reasonably expects to occur in the future. Expectations for the future performance of the business of Aspen are dependent upon a number of factors, and there can be no assurance that Aspen will achieve the results as contemplated herein and there can be no assurance that Aspen will be able to conduct its operations or production from its properties will continue as contemplated herein. Certain statements contained in this report using the terms "may," "expects to," and other terms denoting future possibilities, are forward-looking statements. The accuracy of these statements cannot be guaranteed as they are subject to a variety of risks which are beyond Aspen's ability to predict or control and which may cause actual results to differ materially from the projections or estimates contained herein. These risks include, but are not limited to: the possibility that the described operations (including any proposed exploration or development drilling) will not be completed on economic terms, if at all, or the estimates of reserves may not be accurate. The exploration for, and development and production of, oil and gas are enterprises attendant with high risk, including the risk of fluctuating prices for oil and natural gas, imports of petroleum products from other countries, the risks of not encountering adequate resources despite expending large sums of money, and the risk that test results and reserve estimates may not be accurate, notwithstanding appropriate precautions. Many of these risks are described herein and in Aspen's annual report on Form 10-KSB, and it is important that each person reviewing this report understand the significant risks attendant to the operations of Aspen. Aspen disclaims any obligation to update any forward-looking statement made herein.
ASPEN EXPLORATION CORPORATION
2050 S. Oneida St., Ste. 208
Denver, CO 80224-2426
Telephone: (303) 639-9860
Fax: (303) 639-9863
Email: aecorp2@qwest.net
Web Site: www.aspenexploration.com
Contact:
Bob Cohan
Company: Aspen Exploration Corporation
Phone: 661-831-4669
Fax: 661-831-4661
Email: robertacohan@gmail.com
DJ Commodities, Energy Proving To Be A Dealmaker's Paradise
06/26/2006
Dow Jones News Services
(Copyright © 2006 Dow Jones & Company, Inc.)
By Rob Curran and Marietta Cauchi
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--Raw materials are a dealmaker's gold mine.
The flurry of big deals in the commodities and energy sectors in recent days may just be the crest of a wave of marriages still to come. It still makes sense for many of these companies to expand by buying rivals rather than grow organically; new infrastructure is costly, while digging new mines and opening mills is risky. What's more, these miners, mills, metals and energy companies are flush with cash, as huge demand from China and India has helped them raise prices. And lately, investors have cooled on commodities stocks, easing what were lofty valuations.
"[With] the huge sums of cash metals-and-mining companies have on hand, and tremendous amount of free cash flow generated, it just makes sense to buy assets as opposed to building assets," said JPMorgan metals and mining analyst Michael Gambardella.
"Companies are choosing to spend their cash by buying competitors rather than exploring new sites - and by not adding to existing capacity they are ensuring continued high prices," says Robbert Van Batenburg, head of research at Louis Capital Markets in New York.
Monday, Phelps Dodge Corp (PD) said it's buying Canadian miners Inco Ltd (N) and Falconbridge Ltd (FAL) for $40 billion; while Luxembourg-based Arcelor (5786.FR) succumbed to a roughly $32 billion bid from Mittal Steel Co. (MT); and Friday, Anadarko Petroleum Corp. (APC) agreed to snap up Kerr-McGee Corp. (KMG) and Western Gas Resources Inc. (WGR), for a total of $21.1 billion plus some debt.
Throw in these deals and there's been a whopping $202.7 billion in M&A in this sector so far this year, according to Thomson Financial. That's more than double the volume for the same period last year and closing in on 2005's $223.2 billion in commodities M&A.
Yet there's more to come, experts say.
Among top U.S. steelmakers, for example, U.S. Steel Corp. (X) and Nucor Corp. (NUE) could easily repay debt and still have cash left over. Same for Royal Dutch Shell PLC (RDSA, RDSB); it has more cash than debt.
Valuations are better, too. The inflation bogey has spooked investors enough in recent weeks to stall the commodities sector's three-year-old rally. Copper and gold prices have dropped more than 20% since early May while lumber prices have eased. The Dow Jones Basic Resources Titans 30 Index has fallen 17% since May 11 to close at 236.32 on Friday.
Among those Titans, aluminum producer Alcoa Inc.'s (AA) off 19% and coal miner Peabody Energy Corp. (BTU) is down 34%. Even Phelps' stock has lost more than one-fifth its value since early May, as has wood-products company Weyerhaeuser Co. (WY).
Yet despite these drops, the demand for raw materials remains huge. JPMorgan, for example, estimates China will consume 750 million metric tons of iron ore this year, up 11% from 2005.
Experts think steelmakers, wood-products companies, U.S. oil-and-gas producers and precious-metals-mining concerns will see more M&A this year.
Also expect more cross-border deals, said Van Batenburg, as countries with limited access to raw materials target those rich in natural resources, like Canada, Australia and South Africa.
"Countries like the U.S. and U.K. aren't very rich in terms of natural resources but they have companies with sufficient firepower to buy up foreign assets and businesses," he said.
M&A in the steel industry may have been on hold until Arcelor's fate was decided. But now, Jim Forbes, the global metals advisory leader at PricewaterhouseCoopers, thinks merger activity will resume as the steel industry transforms itself into a global business from the fragmented, local one it still is.
Indeed, ask Michael Locker, whose firm Locker Associates Inc. provides buyout consulting and due diligence to the steel industry: "Everybody is looking for the right deal, anxiously scouring markets to see what they can pick up."
Aside from China, where the government has already told the large state-owned steel companies to join forces, PwC's Forbes cited Eastern Europe and Latin America as two possible areas where both predators and prey will emerge.
"[Latin American and Russian companies] are putting their money down and saying 'how much to buy your mills?" said KeyBanc analyst Mark Parr.
For example, Argentinian steel-tube maker Tenaris SA (TS) recently bought American rival Maverick Tube Corp. (MVK) for $2.4 billion.
Analysts are also looking to aluminum, coal and wood products companies for more M&A, while Friday, shares of oil and gas companies with U.S. production jumped after the Anadarko deal.
Though cautious after a previous bout of dealmaking didn't work so well for buyers, candidates for deals among wood products players include Canadian forestry and paper companies like Domtar Inc. (DTC), Abitibi-Consolidated Inc. (ABY) and Tembec Inc. (TBC.T), said Deutsche Bank analyst Mark Wilde. (Deutsche Bank owns more than 1% of Abitibi and Domtar).
Wilde said U.S. giant Weyerhaeuser Co. (WY) will combine its white-paper, or office paper, unit with the equivalent unit of either Domtar or U.S. rival Boise Cascade Co. (BCC).
In excavation, PricewaterhouseCoopers Canadian mining leader Paul Murphy anticipates more deals involving "second-tier" companies, or those with revenue of $300 million to $400 million a year.
Among the diggers, M&A should be rife, but London-based mining analyst Jonathan Guy, advises to watch for Vancouver's Bema Gold Corp. (BGO) as a likely target, because of its interests in Russia. (Guy doesn't own any shares or have any banking conflicts.)
Analysts also point to South African platinum miner Lonmin (LMI.LN) as a potential target for a major gold mining concern.
Asked about Lonmin, Newmont Mining Corp. (NEM) said it didn't comment on rumors, adding in an email that the company's positioned to do acquisitions but also active in exploration. Newmont has almost $1 billion in cash but is also spending up to $160 million on exploration this year.
Problem is, digging new mines is increasingly hairy for miners.
Phelps-Dodge Corp. (PD) spokesman Peter Faur said the industry has already dug up most of the copper in areas with "low geopolitical risk." In late 2008, or early 2009, Phelps-Dodge expects to start producing from a mine in the Democratic Republic of Congo.
-Rob Curran, Dow Jones Newswires; 201-938-5176; robert.curran@dowjones.com
-Marietta Cauchi, Dow Jones Newswires; 201-938-2129
(END) Dow Jones Newswires
06-26-06 1358ET
Titan Oil and Gas update Bastrop project
SAN ANTONIO, TEXAS--(MARKET WIRE)--Jun 21, 2006 -- Titan Oil and Gas, Inc. (TNOG: PK) is pleased to announce that the Bastrop County Project is nearing completion.
A backhoe had earlier been sent to the site to dig up the existing well casing. An additional section of casing was welded on, in order to be ready for the arrival of the workover rig.
The rig is now in the immediate vicinity of our Bastrop County wells, where it is completing another assignment. The operator informs us that we are next in line, once it is released from its current task.
Once the rig arrives, the initial procedure will be a swab test. Based on the results, the operator will determine the completion techniques to be used. These processes may include acidization and fracturing, as per the recommendations in the In-Depth Bastrop County Report, prepared by Titan's Petroleum Engineer, Peter R. Maupin, and posted at the company's web site. Please visit: www.titanoilandgas.com/future.htm to view the full report.
Titan CEO John Haylock remarks: "We are looking forward to the conclusion of this project, and hope for great results in keeping with the in-depth analysis prepared by our Petroleum Engineer, Peter Maupin."
About Titan Oil and Gas, Inc. - Titan is an energy company engaged in oil and gas development, drilling and production. Titan follows a conservative business model, redeveloping oil and gas fields with a history of production, while expanding into exploration and development of new properties.
Certain information included in this communication (as well as information included in oral statements or other written statements made or to be made by Titan Oil and Gas, Inc.) contains statements that are forward looking, such as statements relating to the future anticipated direction of the Oil and Gas Industry, plans for expansion, various business development activities, planned capital expenditures, future funding resources, anticipated sales growth and potential contracts. These forward looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual operations or results to differ materially from those anticipated.
Contact:
Contacts:
Titan Oil and Gas, Inc.
Investor Contact
(503) 618-0370 or Toll Free: 1-888-601-9983
info@titanoilandgas.com
http://www.titanoilandgas.com
--------------------------------------------------------------------------------
Source: Titan Oil and Gas, Inc.
Schumer wants 'Manhattan Project' for energy innovation
Friday June 23, 10:39 am ET
Sen. Charles Schumer (D-N.Y.) wants to create a new federal agency to promote innovation in the development of alternative energy.
Schumer says his plan is a bold one that would "break the nation's dependence on foreign oil." He plans on providing details on the plan Friday at the state University of Albany's College of Nanoscale Science and Engineering.
Schumer's calling it the Manhattan Project and will give an outline Friday during a one-day symposium being held by New Energy New York, a consortium of companies working on alternative energy products. Schumer helped put New Energy New York together in 2002.
That effort, which included local companies such as Plug Power Inc. (NASDAQ: PLUG - News) of Latham and MTI MicroFuel Cells Inc., a subsidiary of Mechanical Technology Inc. (NASDAQ: MKTY - News) of Albany, N.Y., now includes General Motors and more than 30 other companies.
Schumer said his plan would devote billions of dollars to new energy research and development and would create a new federal agency to promote alternative energy innovation.
watch erhe its turning.
EDEX steadily climbing up the Most Requested List
Watch for next breakout...drilling starts next week.
:: POPULAR REQUEST LEADERS
As of Fri Jun 23 06:55:22 EDT 2006
1 SMKG
2 PGDP
3 AMHD
4 SBAM
5 HISC
6 IDCN
7 DFDR
8 EMXC
9 UFSJ
10 DNTK
11 WTAF
12 OMOG
13 HTRE
14 SLND
15 USEH
16 EPMI
17 QRVI
18 BKMP
19 RSHN
20 CBAY
21 GHLT
22 FNPN
23 EFSF
24 CMDJ
25 RSPG
26 ABZT
27 SMMW
28 NDOL
29 UPZS
30 GWGO
31 XKEM
32 PBLS
33 HSXI
34 CAFE
35 DCNAQ
36 SBRX
37 ERUG
38 PYCT
39 MSITF
40 LUKOY
41 BLGA
42 EQTX
43 SMGY
44 RMDG
45 VEGF
46 BPZI
47 SFPS
48 IVSR
49 TEXC
50 BOREF
51 CPNLQ
52 EDEX
53 MDMN
54 QBID
55 PAIM
56 CSTJ
57 IPRE
58 AGAO
59 CLMP
60 DPHIQ
61 GEECF
62 INSQ
63 PGPM
64 PLNI
65 IDND
66 BKBO
67 QTXB
68 ESMT
69 WWEN
70 BNET
71 INNX
72 GLBT
73 WOLV
74 WMMVY
75 PGPU
76 BDGR
77 IBCX
78 NNGY
79 MFYS
80 ACMG
81 CFTN
82 SLUP
83 DWOG
84 DDSI
85 ABSY
86 INSGY
87 NTGS
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90 ADNL
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93 WNDXQ
94 ARFR
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97 NXCN
98 FMNJ
99 SAOL
100 SLXI
The CEO purchased 450,000 shares of SNRN in March and May at .40 and .50 respectively. Its at .38 right now. Undervalued. Insider buying is a good thing.
NDOL/North-West Oil Group Beats the Majors Over the Magma Oil Reserves and Will Increase Oil Production to 7 Million Barrels Per Year
Wednesday June 21, 9:00 am ET
MOSCOW--(MARKET WIRE)--Jun 21, 2006 -- NDOL/North-West Oil Group (Other OTC:NDOL.PK - News) announced today that it has won the tender for the acquisition of the Magma Oil fields. The battle for the tender included major international oil companies, however, North-West Oil Group came up on top.
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According to the company, now that the tender has been won, negotiations are well underway to conclude the transaction for the Magma Oil Fields estimated at approximately USD $350 million, in an all cash transaction.
"Once the acquisition is completed, our company will have total reserves of 345 million barrels and will increase production to 7 million barrels per year," said Ernest Malyshev, President of NDOL/North-West Oil Group. "The remaining recoverable reserves of the Magma Oil Fields are over 137 million barrels, which are being serviced by 33 wells and 2 booster pumping station," further added Mr. Malyshev.
The company is expected to conclude the transaction over the next several months, and may be simultaneously executed with a listing on the Alternative Investment Market (AIM) exchange in London, where the debt financing is being arranged. The company does not expect to issue any common equity to enable this acquisition.
About NDOL/North-West Oil Group
Nord Oil/North-West Oil Group. is a reporting, publicly traded Oil & Gas company trading under the ticker symbol NDOL on the US Pinksheets market as well as on the Frankfurt Exchange under symbol CXIA. Nord Oil International and the North-West Oil Group merged on May 11, 2006. The company is in the process of filing all regulatory statements and will change its name to the North-West Oil Group and will be issued a new ticker symbol. The company presently produces over 120,000 Metric Tons of crude oil yearly.
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
Contact:
Contact:
Gerald Parkin
Investor Relations
514-591-3666
http://www.sznq.ru
Undervalued oil stock to go long on is Sonoran Energy (SNRN.0B). Right now they are trading at .38 and have a $30 million market cap. They have growing production and currently are at approximately 1000 boepd. They started the year at 100 boepd. They are targeting 2000 boepd by the end of the year as they are currently reworking some high impact wells in Louisiana the first of which should be going into production shortly. So the market cap should at least double by the end of the year imo. They also have east Texas and West Texas properties which they have yet to begun to drill on as well as a property in Jordan which they believe has 30 million barrels in reserves. They anticipate drilling in Jordan will commence in 2007.
Web Site: http://www.sonoranenergy.com
Here is the business summary from yahoo:
Sonoran Energy, Inc., an independent oil and gas exploration and production company, focuses on building a diversified portfolio of assets in North America, North Africa, the Middle East, and the Caspian region. In the United States, Sonoran owns a 100% Working Interest in 10 production wells covering acreage in the Beauregard, Vernon, Rapides, and Livingston Parishes of Louisiana; 3 east Texas properties located in 3 separate oil fields known as the JRC, Lisa Layne, and Ann McKnight; and the KWB (Strawn) Field located approximately 90 miles southeast of Midland, Texas in Tom Green County containing approximately 3,922 acres. In North Africa, the company is evaluating opportunities in Algeria and Libya. In Middle East region, Sonoran focuses its operations on Jordan and Iraq. In the Caspian region, it has a representation agreement with the CSSI Group to assist the company in identifying acquisition opportunities within Kazakhstan. Additionally, Sonoran has strategic partnerships with AGR Holdings AS, RLG International, and Welltec AS. The company was incorporated as Cerotex Holdings, Inc. in 1995 and changed its name to Showstar Online.com, Inc. Further, it changed its name to Sonoran Energy, Inc. in 2002. Sonoran Energy is based in Chandler, Arizona.
Key Statistics
Terax Energy Provides Barnett Shale Operational Update
Wednesday June 21, 3:00 am ET
DALLAS, June 21 /PRNewswire-FirstCall/ -- Terax Energy Inc. (OTC Bulletin Board: TERX - News) began completion of its third well, the Mitchell #3-H, on May 22, 2006, with a four-stage fracture stimulation of the Barnett Shale formation. In early June, the well began flowing back approximately 55 bbls of frac water per hour, which has since decreased to approximately 44 bbls per hour.
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The Mitchell #3-H well's natural gas production rate has been steadily increasing and is currently at approximately 650 mcf per day on a 32/64 choke. The well has a casing pressure of approximately 780 psi and a flowing tubing pressure of approximately 400 psi.
The fracture stimulation for the Mitchell #4-H well is scheduled for July 5, 2006. Terax is currently working to secure frac dates for wells #5-H and #6-H.
The Mitchell #2-H well -- which began completion operations on May 8, 2006, with a five-stage fracture stimulation of the Barnett Shale formation -- began the flow back of frac water on May 22, 2006, at approximately 42 bbls water per hour, which has now decreased to approximately 20 bbls per hour.
The Mitchell #2-H well's natural gas production rate has reached up to 640 mcf per day and 40 bbls of 41 gravity oil per day and is currently producing approximately 350 mcf and 20 bbls of oil per day on a 34/64 choke. The well has a casing pressure of approximately 600 psi and a flowing tubing pressure of approximately 250 psi.
Terax has determined that the Mitchell #1-H well has a bacteria problem and plans to begin chemical treatments this week. Terax has opted for a treatment procedure which will keep the well producing. Terax does not know how much, if any, the bacteria problem has affected production from the #1-H well, which is currently producing about 3 bbls of frac water per hour and approximately 135 mcf per day on 34/64 choke. Terax will continue to monitor the well during the treatment procedure for any changes or improvements in well patterns. The well currently has a casing pressure of approximately 280 psi and a flowing tubing pressure of approximately 78 psi.
"We are encouraged by the production numbers of our first three wells in the Barnett Shale," said Lawrence Finn, president, chief executive officer and chief financial officer of Terax. "Specifically, the #2-H and #3-H wells have indicated positive natural gas production rates, especially the #3-H, which has significantly higher pressure than the other wells. We look forward to the fracture stimulation of the #4-H well in early July and to continuing our drilling operations in the Barnett Shale formation."
Terax has completed the extension of its gathering system, laying four additional miles of eight-inch pipeline, to connect compressor station "B," which will service the Mitchell #3-H through #6-H wells. The Mitchell #3-H and #4-H wells are connected to this compressor station, and Terax is currently completing the flow lines for the #5-H and #6-H wells.
About Terax Energy
Terax Energy Inc. (OTC Bulletin Board: TERX - News) is an independent gas exploration, development and production company, headquartered in Dallas. The sole focus for Terax is the optimal exploitation and development of approximately 27,500 gross acres in two mostly contiguous blocks, consisting of prospective Barnett Shale development acreage located in Erath and Comanche Counties, Texas. For more information, visit http://www.teraxenergy.com .
BPZ Energy Signs Memorandum of Understanding with SUEZ Energy Peru
HOUSTON, Jun 19, 2006 (BUSINESS WIRE) -- BPZ Energy, Inc. (OTC:BPZI) today announced that it has signed a Memorandum of Understanding (MOU) with SUEZ Energy Peru S.A. (SEP) to evaluate the sale of natural gas from the Company's Corvina natural gas field located offshore northwestern Peru, as fuel for a planned 180 megawatt gas-fired thermoelectric power plant to be developed by SEP near the town of Arenillas, Ecuador. At peak capacity, this facility is expected to require about 45 million standard cubic feet per day of natural gas. SEP is controlled by SUEZ (NYSE:SZE), a major international industrial group that engages in the development, design, implementation, and operation of energy and environment systems and networks, which had revenues of approximately $52 billion in 2005.
The scope of the MOU also includes the joint evaluation of a proposed natural gas export pipeline, which will transport the Company's natural gas 35 miles from the Company's mainland reception point of the offshore Corvina field production, to a central delivery point near Arenillas, Ecuador. The natural gas export project would entail marketing natural gas to industrial users and other power generators in Ecuador.
As a result of the evaluation, the Company and SEP expect to establish the basis under which they shall jointly participate in the development of the natural gas export pipeline. The signing of this MOU further enhances the Company's gas-export strategy as an important complement to its Corvina field gas-to-power project. As previously announced, the Company currently has advanced discussions with potential gas off-takers in Ecuador.
Manolo Zuniga, President and Chief Executive Officer of BPZ Energy, Inc. said: "The possibility of entering into a joint venture with SUEZ's Peruvian affiliate is exciting given SUEZ's experience and expertise in natural gas transportation, gas-to-power projects, and natural gas distribution in many countries, including Peru. Additionally, a potential extension of the proposed natural gas pipeline to the city of Guayaquil, Ecuador's industrial engine, is being considered. Guayaquil represents a sizeable industrial market for the Company's natural gas."
New high-voltage power transmission lines between Peru and Ecuador are expected to enable bi-directional power marketing in both countries. The Company and SEP believe they can integrate their respectively planned power plant operations, dispatching electricity from the proposed power generation complex near Arenillas, Ecuador and the Company's Nueva Esperanza Power Plant, located near Caleta Cruz in northwestern Peru. All these power plants are expected to utilize natural gas from the Company's Corvina field as fuel
Triton Austin Chalk (EOR) Signs $1.5 Million Joint Venture and Funding Agreeement with Rheochem plc
Tuesday June 20, 6:00 am ET
HOUSTON--(BUSINESS WIRE)--June 20, 2006--Triton American Energy Corp. (OTC PK: TRAE), provider of natural gas and crude oil, is pleased to report its subsidiary Triton Austin Chalk EOR (TAC) has signed a $1.5 million joint venture and funding agreement with Lochard Energy, Inc.. a Delaware corporation. , which is a newly formed and a wholly owned subsidiary of oilfield services company Rheochem plc (AIM: RHEP).
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Under the terms of agreement Triton Austin Chalk (EOR) has received an initial deposit of $75,000 with the remaining $1,425,000 arriving on or before June 30, 2006. Use of funds will be placed towards the drilling and production of twelve (12) oil wells within the Blackwell Lease. Lockhard Energy, Inc., will in return receive an undivided 55% working interest with a 0.75% revenue interest per 1% working interest over the twelve (12) wells within the "Blackwell Lease". The $1.5 million acquisition will be funded initially from existing cash reserves which are expected to be replaced by the sale of current holdings in a public company.
This lease is located in the Luling -Branyon field in Caldwell County, Texas USA. This payment is based on a turnkey basis which includes all costs up to production of oil to on site storage tanks. This agreement is subject to due diligence prior to an expected closing on June 30, 2006.
The agreement also provides an option for Lochard Energy Inc to participate in a further 100 wells with an undivided 55% working interest with a 0.75% revenue interest per 1% working interest for a cost of $100,000 per well also on a turnkey basis. Agreement is valued at $10 million US.
Information on Triton Austin Chalk (EOR), Inc. ("TAC")
TAC is a Texas Corporation that controls approximately 5,000 acres containing more than 400 cased holes in South Texas' Luling-Branyon, Salt Flat & Darst Creek Fields Field located in Caldwell, Guadalupe & Gonzales Counties, Texas USA. TAC is currently owned by three companies: CML, Inc, Triton American Energy Corp.(TRAE), and Weekley Energy Group, I, LP.
TAC will utilize two licensed technologies to restore and enhance production from existing well bores that are not currently producing. The technologies consist of Triton American Well Service radial jet lateral drilling system as well as a Thermal Pulse Unit ("TPU").
Radial jet lateral drilling system utilises high pressure fluids to cut multiple 50mm (3/4 Inch) diameter horizontal holes up to 100m (300 Feet) out from an existing vertical well bore. This provides a much larger surface area in connection to the reservoir and allows drainage of areas that may have not previously been produced from.
A Thermal Pulse Unit is a multi phase gas injection, gas lift system that also acts as a separator and can replace the traditional pump jack with its associated down-hole rods.
The TPU heat generation and pressure pulsation is designed to stimulate the newly drilled lateral holes and keep them free from paraffin build-ups which can necessitate, work-over rig time and costly delays in production.
Haydn Gardner, CEO said: "The signing of this contract represents the Company's first collaboration with other oil service companies to work over their own existing wells in an attempt to resume commercial production and thereby potentially increase company revenues from oil and gas sales."
www.rheochem.com.au
Chairman and CEO, Louis Guidry states "This is a true turning point for our company. We will be moving quickly to begin re-entry and lateral jet drilling of our first twelve (12) oil wells on the 'Blackwell Lease' This is a personal triumph for me as I've been working on this project since Oct. of 2004." Mr. Guidry further stated "We are continuing to stay in line with our mission statement which is providing 'Energy for America from America'".
For more information on Triton American Energy Corp., please contact Investor Relations at (973) 351-3868 for Stephen Taylor or visit our website at: www.tritonamericanenergycorp.com
For more information on Rheochem plc, please visit: www.rheochem.com.au
About Triton American Energy Corporation:
Triton American Energy is an independent crude oil and natural gas and oil exploration and production company based in Houston, Texas. The company's business plan is structured to take advantage of todays rising energy cost, while reducing as much financial risk as possible. Tritons niche or specialty are the small to moderate operations (usually 1-50 well projects). These wells can be worth hundreds of millions of dollars in revenue but require more hands-on attention then the major producers are willing to give.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the forward looking matters discussed in this news release are subject to certain risks and uncertainties which could cause the Company's actual results and financial condition to differ materially from those anticipated by the forward-looking statements including, but not limited to, the Company's liquidity and the ability to obtain financing, the timing of regulatory approvals, uncertainties related to corporate partners or third-parties, product liability, the dependence on third parties for manufacturing and marketing, patent risk, copyright risk, competition, and the early stage of products being marketed or under development, as well as other risks indicated from time to time in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
Contact:
Taylor Capitol, Inc.
Stephen Taylor, 973-351-3868
STEPHTAYL9@AOL.COM
www.IPOmovers.com
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EnerCom, Inc. Announces Presenting Companies for The Oil & Gas Conference(R) August 13 - 17, 2006
Tuesday June 20, 12:01 pm ET
DENVER, June 20 /PRNewswire/ -- EnerCom, Inc. announced today the lineup for The Eleventh Oil & Gas Conference(TM), www.theoilandgasconference.com. The Conference, held in Denver Aug. 13-17, 2006, is the largest energy investment conference hosted in Denver, showcasing more than 90 companies with a combined enterprise value of more than $300 billion. This premier forum offers institutional investors, energy research analysts, retail brokers, investment bankers, energy industry professionals and high-net-worth individual investors a unique opportunity to meet and discuss important topics concerning the global oil and gas industry over five days. Participating industry leaders and key management from micro-cap to billion-dollar-plus companies in the global energy exploration, production and service sectors will discuss their future plans, opportunities and industry trends.
EnerCom, Inc. founded The Oil & Gas Conference® in 1996. Co-hosts for this year's events include: the American Stock Exchange®; Calyon Corporate Investment Bank; Netherland Sewell & Associates; Natexis Bleichroeder Inc.; Rivington Capital Advisors, LLC; Fortis Capital Corp.; First Albany Capital Inc.; Hein & Associates LLP; and Petrie Parkman & Co. This year's line-up for The Eleventh Oil & Gas Conference(TM):
Sunday, August 13, 2006
Golf at Arrowhead Golf Club
Monday, August 14, 2006
Apache Corporation (NYSE: APA - News)
Bill Barrett Corporation (NYSE: BBG - News)
Cheniere Energy (Amex: LNG - News)
Chesapeake Energy (NYSE: CHK - News)
Cimarex Energy (NYSE: XEC - News)
Core Laboratories (NYSE: CLB - News)
Endeavour International (Amex: END - News)
EnerCom, Inc.
Hercules Offshore (Nasdaq: HERO - News)
MarkWest Energy Partners (Amex: MWE - News)
NATCO Group Inc. (NYSE: NTG - News)
Natexis Bleichroeder
NGP Capital Resources (Nasdaq: NGPC - News)
Petrie Parkman & Co.
PetroFalcon Corporation (TSX: PFC - News)
Petroleum Development Corporation (Nasdaq: PETD - News)
PetroQuest Energy (Nasdaq: PQUE - News)
Quest Resource (Nasdaq: QRCP - News)
St. Mary Land & Exploration (NYSE: SM - News)
Storm Cat Energy (Amex: SCU - News)
Westside Energy (Amex: WHT - News)
Whiting Petroleum (NYSE: WLL - News)
Tuesday, August 15, 2006
American Stock Exchange
Calyon Securities (USA), Inc.
Canadian Natural Resources (NYSE: CNQ and TSX: CNQ)
Canadian Superior Energy (Amex: SNG and TSX: SNG)
Carrizo Oil & Gas (Nasdaq: CRZO - News)
Flotek Industries (Amex: FTK - News)
Gasco Energy (Amex: GSX - News)
Helmerich & Payne (NYSE: HP - News)
Houston Exploration (NYSE: THX - News)
Kodiak Oil & Gas (TSX.V: KOG and OTCPK: KOGGF)
Lone Star Technologies (NYSE: LSS - News)
Michael Baker Corp. (Amex: BKR - News)
Newpark Resources (NYSE: NR - News)
Nexen Inc. (NYSE: NXY and TSX: NXY)
Parallel Petroleum (Nasdaq: PLLL - News)
Petsec Energy (ASX: PSA and OTCPK: PSJEY.PK)
Questar Corp. (NYSE: STR - News)
Range Resources (NYSE: RRC - News)
Swift Energy (NYSE : SFY - News)
The Exploration Company (Nasdaq: TXCO - News)
Ultra Petroleum (Amex: UPL - News)
Universal Compression (NYSE: UCO - News)
Venoco Inc.
Wednesday, August 16, 2006
Company-hosted breakfast tables
ATP Oil & Gas (Nasdaq: ATPG - News)
Berry Petroleum (NYSE: BRY - News)
Cabot Oil & Gas (NYSE: COG - News)
Compton Petroleum Corporation (NYSE: CMZ and TSX: CMT)
Contango Oil & Gas (Amex: MCF - News)
Delta Petroleum (Nasdaq: DPTR - News)
Denbury Resources (NYSE: DNR - News)
Infinity Energy Resources (Nasdaq: IFNY - News)
GEOCAN Energy (TSX: GCA - News)
Goodrich Petroleum (NYSE: GDP - News)
Petrohawk Energy (Nasdaq: HAWK - News)
Netherland Sewell & Associates, Inc.
RPC, Inc. (NYSE: RES - News)
Syntroleum Corp. (Nasdaq: SYNM - News)
Talisman Energy (NYSE: TLM and TSX: TLM)
Teton Energy (Amex: TEC - News)
Transmeridian Exploration (Amex: TMY - News)
Unit Corporation (NYSE: UNT - News)
XTO Energy (NYSE: XTO - News)
Thursday, August 17, 2006
BPZ Energy (OTC BB: BPZI - News)
CanArgo Energy (Amex: CNR - News)
EnCana Corporation (NYSE: ECA and TSX: ECA)
Gastar Exploration (Amex: GST - News)
Grey Wolf (Amex: GW - News)
Nabors Industries (Amex: NBR - News)
Newfield Exploration (NYSE: NFX - News)
NGAS Resources (Nasdaq: NGAS - News)
Rosetta Resources (Nasdaq: ROSE - News)
Southwestern Energy (NYSE: SWN - News)
Superior Energy Services (NYSE: SPN - News)
TrueStar Petroleum (TSX.V: TPC)
VAALCO Energy (Amex: EGY - News)
Western Gas Resources (NYSE: WGR - News)
About EnerCom, Inc.
EnerCom, Inc. is a nationally recognized leader of specialized corporate communications consulting including investor relations, media relations, graphic design, financial advertising, and business development and analysis. Founded in 1994, EnerCom uses the team concept for its wide range of services to emerging companies, and small to large public companies engaged in the global exploration and production, oilservice, and associated advanced- technology industries. Headquartered in Denver, with an office in Houston, EnerCom works successfully with its clients throughout the world increasing their shareholder value.
For more information about EnerCom and its services, please call:
Gregory B. Barnett, President
303-296-8834 or visit www.enercominc.com
About the American Stock Exchange
The American Stock Exchange® (Amex®) is the only primary exchange that offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRSSM. In addition to its role as a national equities market, the Amex® is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993. Leading the industry in ETF listings, the Amex® lists 166 ETFs to date. The Amex® is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks.
To learn more, call John McGonegal, Senior Vice President, Equities, at 212-306-1652, or visit www.Amex.com.
About Calyon Corporate & Investment Bank
Calyon is the corporate and investment banking subsidiary of the Credit Agricole Group, France's largest bank and one of the world's largest with its approximately $1 trillion in assets. Calyon is AA-/Aa2 rated, and came into existence in April 2004 with the consolidation of Credit Agricole Indosuez and the corporate and investment banking division of Credit Lyonnais. Calyon ranks among the top ten foreign banks in the U.S., and has offices in New York, Chicago, Los Angeles, Dallas, and Houston. In addition, Calyon has another North American presence in Montreal, Canada, and a Latin American presence in Mexico, Brazil, Chile, and Argentina.
Calyon is headquartered in Paris, France and has offices in 55 countries. It has assets of approximately $380 billion and is a global leader in structured financing, interest rate and credit derivatives, U.S., European and Asian equities, futures and foreign exchange, as well as syndicated lending and fixed income.
In the Americas, Calyon provides the latest in financial products and services for its corporate and institutional clients, including OTC commodity derivatives, loan syndication, project financing, global equity research and trading, debt capital markets, and conduit securitization.
Specializing in this sector for over 100 years, Energy represents the single largest concentration of industry exposure at Calyon. Calyon focuses on all segments of the business and covers it on a truly global basis. The Bank's Energy practice for the U.S. is located in Houston, Texas.
Calyon Securities (USA) Inc., an indirect subsidiary of Calyon, is a global full service institutional and self-clearing broker-dealer. It is a member of NYSE, NASD, and ISE as well as all major global clearing organizations.
For more information contact:
Dennis Petito, Managing Director, Energy Power and Pipelines, Calyon Securities (USA) Inc.
713-890-8601
Carin Dehne Kiley, CFA, Vice President & Senior Analyst, Calyon Securities (USA) Inc.
212-408-5872
About Netherland, Sewell & Associates, Inc.
Netherland, Sewell & Associates, Inc. (NSAI) was founded in 1961 to provide the highest quality engineering and geological consulting to the petroleum industry. NSAI has conducted reserve certifications, technical studies, economic evaluations, and advisory work for fields throughout the world. An NSAI report honors the data and industry reserve definitions to give a full and fair inventory of reserves and cash flow. Each report is based on sound judgment, broad experience, technical expertise, and accepted practices. We have integrated teams of engineering, geologic, geophysical, petrophysical and operational experts in our Dallas and Houston, Texas offices. Our clients get the NSAI name and our team of experts. We believe they get the very best. To learn more about Netherland Sewell & Associates, please visit www.netherlandsewell.com.
For more information call:
Frederic D. Sewell, Chairman, Netherland, Sewell, & Associates, Inc.
214-969-5401
C. Scott Rees, President, Netherland, Sewell, & Associates, Inc.
214-969-5401
About Natexis Bleichroeder Inc.
Natexis Bleichroeder provides its institutional clients with brokerage services, order execution, share lending-borrowing, electronic order transmission and corporate finance. It also plays a significant role in the primary market.
Natexis Bleichroeder boasts a stand-out position in an ever changing financial environment. Its operational bases in Paris, New York and London spur international distribution and transatlantic research, further buttressed by a joint agreement with DZBank in Frankfurt (Germany) signed in 2003 to distribute its research.
In all its dealings, Natexis Bleichroeder strives first and foremost to provide its customers with quality global service.
For more information, contact:
Geoff Collier, 212-698-3050, or visit www.natexisblr.us
About Rivington Capital Advisors, LLC
Rivington Capital Advisors, LLC ("RCA") is an independent advisory firm providing services to small and medium-sized energy companies ("issuers") and the financial institutions investing in these sectors ("investors"). Advisory services include arrangement and execution of all forms of private debt and equity placements, merger, acquisition, divestiture and financial due diligence assistance, derivative and hedging assistance, reorganization, recapitalization and corporate valuation work. RCA principals have extensive experience in sourcing, structuring, negotiating and closing transactions for issuers and investors.
For additional information, contact:
Scott A. Logan, Co-founder, Rivington Capital Advisors, LLC
303-225-0880 or visit www.rivingtoncap.com
About Fortis Capital Corp. and Fortis Securities LLC
Fortis Capital Corp. and Fortis Securities LLC are the U.S. subsidiaries of the Fortis Group's Merchant Banking activities. Within specialized industry sectors, Fortis' objective is to meet the strategic financial needs of its clients both in the U.S. and worldwide. Fortis provides a full range of financial products and services for its corporate and institutional clients including corporate lending, loan syndication, capital markets and advisory, financial and energy derivative products and securitization. In addition to a long-standing commitment to the oil & gas and offshore & oilfield services markets, Fortis maintains industry specialties in shipping, power & utilities, intermodal, commodities, aerospace, media & telecom, food & beverage, paper & packaging, and retail. Fortis Capital Corp. has offices in New York, Chicago, San Francisco, and Dallas.
The Fortis Group, which is headquartered in Brussels, Belgium, is a global financial organization that has leading practices in all facets of banking and insurance. As of December 31, 2005, the Fortis Group had total assets of 729 billion Euros and more than 54,000 employees. In Fortune Magazine's July 2005 rankings, the Fortis Group was ranked 2nd among the world's largest financial institutions based on total revenues. The Fortis Group's banking subsidiaries carry AA- / Aa3 ratings by S&P and Moody's, respectively.
For more information contact:
Deirdre Sanborn, Senior Vice President, Global Oil & Gas
214-953-9304
Joe Maxwell, Senior Vice President, Offshore & Oilfield Services
212-340-5377
About First Albany Capital Inc.
First Albany Capital Inc., an independent, institutional investment banking, sales and trading boutique, serves the growing corporate middle market, major government agencies and public institutions by providing clients with focused expertise and strategic, research-based, innovative investment opportunities. First Albany's focus is identifying investments with the ability for sustained growth and significant upside, and in providing value- added advice and superior execution to fulfill client needs.
For more information, contact:
James A. Hansen, Managing Director, Head of Energy Investment Banking, First Albany Capital
713-513-6149
www.fac.com
About Hein & Associates LLP
Hein & Associates LLP is one of the few full-service accounting and business advisory firms in the nation with a primary market niche in the oil and gas industry. For more than 25 years, we have provided a comprehensive array of professional services for public and private companies of all sizes, including:
* Financial Statement Audit & Review
* SEC Reporting
* Sarbanes-Oxley Compliance
* Tax Planning & Consulting
* Litigation/Valuation Advisory Services
Our professionals serve as resources for the business community both nationally and internationally from our office locations in Denver, Houston, Dallas, and Southern California. We regularly conduct seminars and roundtables, as well as publish articles on a variety of topics affecting the industry.
Hein & Associates LLP partners communicate regularly with public company policy-makers as members of the (1) Executive Committee of the Center for Public Company Audit Firms, and (2) Financial Accounting Standards Advisory Council. These groups provide access to the PCAOB, the SEC, FASB and other regulators for public companies. We remain on the cutting edge of important changes affecting public companies and can provide a forum for clients' questions and concerns.
For more information, contact:
Larry Unruh, Managing Partner
(303) 298-9600
www.heincpa.com
About Petrie Parkman & Co.
Founded in 1989, Petrie Parkman's business purpose is to provide competitively superior advisory and transaction services. Priorities of the firm are to emphasize execution skills through the application of experience and judgment, and to provide continuity of interface to facilitate long-term relationships. By maintaining these priorities, Petrie Parkman has established a position as the most effective advisor for the implementation of strategic alternatives, execution of transactions and pursuit of investment objectives. Petrie Parkman's 52 professionals operate from offices in Houston, Denver and London.
For more information about Petrie Parkman & Co., please contact:
Thomas A. Petrie, Founder and Chief Executive Officer or Steven R. Enger, Director of Research at (303) 292-3877 or visit www.petrieparkman.com
--------------------------------------------------------------------------------
Source: EnerCom, Inc.
ASPN 4.02 x 4.13 Aspen Exploration Discovers Third Consecutive Gas Well
Sacramento Valley Province, Northern California
Jun 19, 2006 11:45:00 AM
DENVER, CO -- (MARKET WIRE) -- 06/19/06 -- Aspen Exploration Corporation (OTCBB: ASPN), with offices in Bakersfield, California, and Denver, Colorado, announced today a new gas well in the Sacramento Valley gas province of northern California.
The WGU #14-8 well, located in the West Grimes Gas Field, Colusa County, California, was drilled to an undisclosed depth and encountered approximately 100 feet of potential gas pay in several Forbes intervals. Production casing was run based on favorable mud log and electric log responses. This was the tenth successful gas well out of ten attempts by Aspen in this field. All of the wells Aspen drilled in this area were drilled based on a 3-D seismic survey acquired by Aspen several years ago. Aspen plans to drill several more wells in this field this year. Aspen has a 21% operated working interest in this well.
The Morris #1-13 well, also located in the West Grimes Gas Field, Colusa County, California, was drilled to an undisclosed depth and encountered approximately 80 feet of potential net gas pay in the Forbes formation. Production casing was run based on favorable mud log and excellent electric log responses. After the casing was run to protect the upper potential gas horizon, Aspen moved in a completion rig and drilled deeper with an underbalanced drilling system and encountered additional gas pay in another Forbes horizon. This deeper Forbes zone tested gas at a prolific stabilized flow rate of 3,300 MCFPD. Aspen will produce the lower zone first and then perforate the upper zone in the future.
Aspen currently has 3 drilling rigs operating on its various prospects located in the in the Sacramento Valley of northern California and the San Joaquin Valley in central California.
Aspen drilled ten successful gas wells out of ten attempts in 2004 for a 100% success rate, and nine gas wells out of ten attempts in 2005. During the last 5 1/2 years, Aspen has participated in the drilling of 39 operated wells, 34 of which were completed as gas wells, and 5 dry holes which were plugged and abandoned, a success rate of 87%. Aspen currently operates 55 gas wells and has non-operated interests in 20 additional wells in the Sacramento Valley of northern California, and has an exciting drilling program planned for 2006.
Future news releases will keep shareholders informed of Aspen's continuing progress and drilling activity. Aspen's stock is quoted on the OTC Bulletin Board under the symbol ASPN.OB. For more information concerning Aspen, contact Bob Cohan, President and CEO, in Aspen's Bakersfield office at (661) 831-4669. Aspen's web page can be found at www.aspenexploration.com.
DISCLAIMER
This news release contains information that is "forward-looking" in that it describes events and conditions which Aspen Exploration Corporation ("Aspen") reasonably expects to occur in the future. Expectations for the future performance of the business of Aspen are dependent upon a number of factors, and there can be no assurance that Aspen will achieve the results as contemplated herein and there can be no assurance that Aspen will be able to conduct its operations or production from its properties will continue as contemplated herein. Certain statements contained in this report using the terms "may," "expects to," and other terms denoting future possibilities, are forward-looking statements. The accuracy of these statements cannot be guaranteed as they are subject to a variety of risks which are beyond Aspen's ability to predict or control and which may cause actual results to differ materially from the projections or estimates contained herein. These risks include, but are not limited to: the possibility that the described operations (including any proposed exploration or development drilling) will not be completed on economic terms, if at all, or the estimates of reserves may not be accurate. The exploration for, and development and production of, oil and gas are enterprises attendant with high risk, including the risk of fluctuating prices for oil and natural gas, imports of petroleum products from other countries, the risks of not encountering adequate resources despite expending large sums of money, and the risk that test results and reserve estimates may not be accurate, notwithstanding appropriate precautions. Many of these risks are described herein and in Aspen's annual report on Form 10-KSB, and it is important that each person reviewing this report understand the significant risks attendant to the operations of Aspen. Aspen disclaims any obligation to update any forward-looking statement made herein.
ASPEN EXPLORATION CORPORATION
2050 S. Oneida St., Ste. 208
Denver, CO 80224-2426
Telephone: (303) 639-9860
Fax: (303) 639-9863
Email: aecorp2@qwest.net
Web Site: www.aspenexploration.com
Contact:
Bob Cohan
Company: Aspen Exploration Corporation
Phone: 661-831-4669
Fax: 661-831-4661
Email: robertacohan@gmail.com
URL: http://www.aspenexploration.com
Wescorp Reaches Agreement with Ellycrack A/S to Transfer Viscositor Test Plant to Canada for Scalability Testing
Wednesday June 14, 9:20 am ET
EDMONTON, ALBERTA--(MARKET WIRE)--Jun 14, 2006 -- Wescorp Energy Inc. (OTC BB:WSCE.OB - News) is pleased to announce it has reached an agreement with Ellycrack A/S to transfer the VISCOSITOR test-plant from SINTEF facilities in Norway to Canada.
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As part of the agreement Wescorp will:
- Modify and/or upgrade all structural elements of the test-plant to allow continuous prolonged testing of the patented Ellycrack heavy-oil upgrading process required by field operations
- Integrate all instrumentation and monitoring equipment needed to run, vary, measure and record several series of datasets to be generated by testing for commercial scaling analysis
- Develop and run tests with the joint-venture's engineering firm to quantify material balance, energy balance, output composition, emissions handling (including excess heat and steam); all parameters affecting scalability of the technology for commercial applications
- Provide the joint-venture engineering firm all datasets to perform comprehensive scaled modeling and performance analysis for a variety of commercial grade processing units
- Arrange for all testing, data output and analysis to be monitored, verified and endorsed by an accredited internationally recognized body which specializes in heavy-oil upgrading technology development
The test-plant is on loan to the joint-venture by Ellycrack A/S as a means to accelerate the application of VISCOSITOR technology on a commercial scale. Ready access to an operating unit by the joint-venture's engineering team which can draw from a broad world-call base of heavy-oil upgrader technology expertise residing in Western Canada, could reduce the VISCOSITOR's time-to-market by a considerable margin.
Commenting on the agreement and transfer, Ellycrack AS President Olav Ellingsen stated, "Our joint-venture should realize significant benefits by continuing to test Ellycrack in Western Canada. By transferring the VISCOSITOR, we have better and more timely access to technical and financial resources made available by government and industry-sponsored agencies established specifically to advance the commercialization of heavy-oil upgrading technologies like Ellycrack. From a marketing perspective, we also felt it advantageous to have a more direct, visible presence in what will be a primary market once the Ellycrack process is commercially available".
About Wescorp
Wescorp Energy Inc. is a venture capital firm specializing in acquiring energy production and transport technology. We make early strategic investments in oil and gas related businesses in aggressive growth sectors with large emerging markets that have yet to be fully exploited. Our focus is on technologies that improve the management, environmental and economic performance of conventional and unconventional field operations. Our Flowstar division produces advanced gas flow metering devices that deliver greater accuracy, lower overall costs and virtually no maintenance requirement. Our Ellycrack joint-venture is currently developing an advanced low-energy, low-cost upgrading technology based on converting kinetic energy to crack heavy-oil and tar-sands into lighter more valuable grades of crude. Wescorp shares currently trade on the OTCBB under the symbol "WSCE."
Safe Harbor Statement
Any statements contained herein that are not historical facts are forward-looking statements, and involve risks and uncertainties. Potential factors could cause actual results to differ materially from those expressed or implied by such statements. Information on the potential factors that could affect the Company's actual results of operations is included in its filings with the Securities and Exchange Commission. These risks may be further discussed in periodic reports and registration statements to be filed by the Company from time to time with the Securities and Exchange Commission in the future.
Contact:
Contacts:
Wescorp Energy Inc. - Nino Plava
Vice-President Investor Relations & Corporate Communications
Office: (403) 206-3990 or Toll Free: (877) 247-1975
Direct: (403) 262-0756 or Cell: (403) 999-9916
Email: nplava@wescorpenergy.com
Website: http://www.wescorpenergy.com
POIG/EDNE: Hurricane Season Sparks Concerns Over Oil and Natural Gas Supply Disruptions and Higher Energy Prices
Tuesday June 13, 9:00 am ET
NaturalGasStocks.com Looks at How Oil and Natural Gas Industry Participants, Chesapeake Energy, Eden Energy, Petrol Oil and Gas and Goodrich Petroleum Prepare for the Summer Months
POINT ROBERTS, WA and DELTA, BC--(MARKET WIRE)--Jun 13, 2006 -- www.NaturalGasStocks.com (NGS) and www.OilandGasStockNews.com (OGSN), global investor websites for the natural gas, energy and oil industries, take a look at speculation surrounding the 2006 hurricane season in terms of potential impacts on oil and natural gas supplies and prices. With the oil and gas sector, and in particular the Gulf region, still recovering from the devastation caused by Katrina, a damaging 2006 storm season could escalate industry pressures through additional disruptions and shut-ins, leading to higher energy prices. Industry participants Chesapeake Energy, Eden Energy Corp, Petrol Oil and Gas and Goodrich Petroleum forge ahead with their pursuit of increased exploration, development and production levels, with a close eye on Gulf coast weather activities.
The National Oceanic & Atmospheric Administration (NOAA) anticipates this season to be highly active with predictions of between 13 to 16 named storms, with 8 to 10 becoming hurricanes, of which 4 to 6 could become 'major' hurricanes reaching Category 3 strength or higher.
While there is anticipation for an active storm season due to numerous variables, most experts do not anticipate the level of activity we saw last year. Jon Davis, Meteorologist with Chesapeake Energy Corp (NYSE:CHK - News) explains, "Last year was an exceedingly unique situation on many different levels and based on the significant differences in last year's conditions that produced a record number of storms in the Gulf, and what we have going on right now, we do not expect the same level this year."
In addition to the highly anticipated activity of storms along the coast, the nation is also facing the challenges of hot temperatures that accompany the summer months ahead. Paul Branagan, President of Petrol Oil and Gas, Inc. (OTC BB:POIG.OB - News) explains, "Most of the country is already experiencing some pretty high temperatures and given that summer is still about two weeks off this means that the utilities usage of fossil fuels is and will probably continue at high levels throughout the summer. That demand mixed with the potential adverse effects of the hurricane season suggests that the oil and gas market will remain extremely volatile and producers both big and small will have to work hard to maintain supply."
Goodrich Petroleum's (NYSE:GDP - News) President, Robert Turnham adds, "The impact to the supply system for oil and gas depends on the path of the hurricanes. If they take the same path as last year we will once again have a tremendous amount of production shut-in and potentially lost due to wind and storm surge damage and we could also see further destruction of demand."
With a pull back on natural gas prices due to a mild winter, weather once again holds the wildcard on price influence as we move forward into the summer months. Jeff Mobley, Vice President of Investor Relations and Research for Chesapeake Energy states, "To the extent that you take production offline in the Gulf of Mexico that would very quickly fix the short term supply and demand imbalance and gas prices would go up materially."
With this in mind, many domestic oil and gas companies are working to increase exploration, development and production to continue to meet the growing energy demands. As Don Sharpe, CEO of Eden Energy Corp. (OTC BB:EDNE.OB - News), an oil and gas exploration and development company describes, "Our company continues to acquire and develop a very high quality portfolio of large prospects in the US with the objective of finding and developing major sources of oil and gas for America." To Read the Hurricane Season Overview: http://www.naturalgasstocks.com/Articles/061306.asp
NaturalGasStocks.com (NGS) and OilandGasStockNews.com (OGSN) are portals within the InvestorIdeas.com(TM) content umbrella. Our sites do not make recommendations, but offer investors research, news and links to public companies within the oil and gas sector.
NGS and OGSN also include one of the most comprehensive free oil and gas stock lists in the investment industry: http://www.naturalgasstocks.com/Companies/NaturalGas/Stock_List.asp
Featured Oil and Gas Portal Sponsors: (OGSN and NGS are compensated by EDNE and POIG as indicated in disclaimer below)
Petrol Oil and Gas, Inc. (OTC BB:POIG.OB - News) For more info click here: http://www.NaturalGasStocks.com/Petrol_Oil_and_Gas/Default.asp
Eden Energy Corp. (OTC BB:EDNE.OB - News) For more info click here: http://www.oilandgasstocknews.com/CO/EDNE/Default.asp
Investorideas.com Disclaimer: www.InvestorIdeas.com/About/Disclaimer.asp Our sites do not make recommendations, but offer information portals to research news, articles, stock lists and recent research. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. These sites are currently compensated by its "featured companies" -- Eden Energy Corp. (OTC BB:EDNE.OB - News) Three thousand five hundred dollars per month. Petrol Oil and Gas, Inc. (OTC BB:POIG.OB - News) Four thousand dollars per month, plus six thousand dollars per month in one forty-four shares.
Contact:
For more information contact:
Dawn Van Zant
800.665.0411
Ann-Marie Fleming
866.725.2554
Email: Email Contact or Email Contact
Web Site: http://www.InvestorIdeas.com
BPZ Energy Updates Corvina Gas-to-Power Project
HOUSTON, Jun 12, 2006 (BUSINESS WIRE) -- BPZ Energy, Inc. (OTC:BPZI) today confirmed plans to commence offshore drilling operations at its Corvina gas field as part of its gas-to-power project in Peru. The integrated gas-to-power project involves the initial drilling of three wells and the recompletion of the existing shut-in gas well in the Corvina gas field, located in the Company's 739,520 acre Block Z-1, offshore northwest Peru, and the subsequent construction of a 10 mile gas pipeline for transporting the natural gas production to a planned 160 megawatt gas-fired power plant.
The Company has spent the last several months modernizing the drilling rig, refurbishing the existing Corvina platform, and assembling all the supplies, equipment, and services for the drilling program. Refurbishing work on the platform and drilling rig is nearly complete. Following acceptance testing by the Company, the rig should be mobilized and installed on the Corvina platform starting in late June. The Company expects to spud the first well in late July, and drilling to total depth is estimated to take between 25 and 28 days.
Drilling Plans at Corvina Gas Field in Block Z-1
The Company has been successful in securing the high quality equipment needed to complete drilling operations in its Corvina project on cost efficient terms despite an exceedingly tight market for oil and gas equipment.
-- The refurbishment of the CX-11 production platform in the Corvina gas field is near completion. This paves the way for the mobilization and installation of a drilling rig obtained under contract from Petrex, S.A. The use of an existing platform provides significant savings in drilling costs to the Company, when compared to the escalating rates for difficult to obtain drill ships or barges.
-- The Company previously announced that it has secured a platform tender-assist drilling rig capable of drilling to 16,000 feet from Petrex, S.A. The rig is under exclusive contract at a fixed competitive day rate for up to two years, which will allow for an extended drilling program at Corvina as well as on the previously announced Albacora oil project. The Company has the option to extend the contract for an additional year at market rates. The rig has undergone an extensive modernization and refurbishment program, providing the Company with a first class asset.
Black Dragon on Caddo Lake
Monday June 12, 11:08 am ET
Black Dragon Has Crew Working on Caddo Lake Right Now!
AUSTIN, Texas--(BUSINESS WIRE)--June 12, 2006--Black Dragon Resource Companies, Inc., (Pink Sheets:BDGR - News) announced today that the company is working on their first shut in well located on Caddo Lake. President, Mr. Rick Michael, stated, "We have 46 shut in wells on Caddo Lake. These wells could add a major amount of production without a huge amount of funds being laid out to put them on. This is a very exciting time for the Company. We've been working on this project for over 18 months now and in a week or less we will be able to see what the first shut in lake well will produce." Mr. Michael went on to say that they are finishing up on a saltwater disposal well, "When it is approved to inject water, Black Dragon will be able to turn on an additional 15 wells. The Company has also staked locations to drill an additional 7 saltwater disposal wells and 40 new Nacatoch oil and gas wells. Summer is here and with the dry conditions we currently have in the oilfield it is time to really turn up the production."
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About Black Dragon Resource Companies, Inc.
Black Dragon is focused on the recovery of oil and gas reserves through acquisition and project development, specializing in mature and marginal field enhancement, developmental exploitation drilling and low-risk exploration opportunities in the Texas and Louisiana regions.
Forward-Looking Statements
Certain information discussed in this press release may constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are inherently subject to unpredictable and unanticipated risks, trends and uncertainties such as the Company's inability to accurately forecast its operating results; the Company's potential inability to achieve profitability or generate positive cash flow; the availability of financing; and other risks associated with the Company's business. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
Contact:
Black Dragon Resource Companies, Inc., Austin
Rick Michael, 512-442-4151
www.black-dragonoil.com
--------------------------------------------------------------------------------
The Next Class-Action King
Tara Weiss 06.07.06, 1:00 PM ET
Related Quotes
CHAR 5.76 + 0.01
There’s nothing like a federal bribery and fraud indictment to scare away a law firm’s clients. That’s especially true at Milberg, Weiss, Bershad & Schulman, the class-action giant known for snagging the lucrative lead counsel position in numerous securities lawsuits.
The firm and two name partners are accused of paying kickbacks to plaintiffs in as many as 150 lawsuits. And since its May 18 indictment, Milberg has been losing both partners and clients. Among the defections: institutional clients like the Ohio Tuition Trust Authority and the New York State Common Retirement Fund. Adding to Milberg’s worries is the announcement on June 6 that Delaware’s Office of Disciplinary Counsel is investigating the firm's work in the state.
So which firms are likely to benefit from Milberg’s misfortune? Three years ago, Milberg Weiss was the leader in investor lawsuits, according to Institutional Shareholders Services, a Maryland-based company that tracks all securities class-action litigation for shareholders. Their most recent survey put Milberg Weiss in fourth place behind Bernstein, Litowitz, Berger & Grossman; Barrack, Rodos & Bacine; and Lerach, Coughlin, Stoia, Geller, Rudman & Robbins. Forbes.com called each of Milberg’s top four competitors, but they refused to comment on how they might be wooing Milberg’s former clients.
Each firm stands to gain. But of the three, it’s a toss-up between the industry’s two largest players. Bernstein, Litowitz, Berger & Grossman settled nine cases totaling $3.7 billion. Close. Barack, Rodos & Bacine also had settlements totaling $3.7 billion in five cases. While third-place Lerach, Coughlin, Stoia, Geller, Rudman & Robbins settled 47 cases, it totaled just $1.8 billion. By comparison, Milberg settled 34 cases totaling $600 million.
The indictment may have brought Milberg to its knees, but the company says it’s not yet crippled. “We will vigorously defend ourselves and our partners against these charges, and we will be vindicated,” Melvyn Weiss, one of the firm’s co-founders, said in a statement on the company’s Web site.
Despite how overly optimistic that may sound, even the firm’s competitors aren’t counting Milberg out. “They’re like cockroaches; they’re highly adaptable,” says John D. Lovi, a securities defense attorney and managing partner at Steptoe and Johnson's New York office, who frequently sparred with Milberg Weiss’ attorneys. “Unless this firm is destroyed by this investigation and this case, I think they will continue to be a dominant player in the field.”
It’s a field that’s notoriously cutthroat, despite attempts to temper the competition. The most recent effort was 1995’s Private Securities Litigation Reform Act. Prior to its passage, plaintiffs raced to the courthouse to be the first to file a lawsuit against a company if its stock dropped. Backroom jockeying determined who the lead plaintiff would be, a significant role since that attorney divvied up the winnings.
The Reform Act changed that. Now, the plaintiff who owns the most stock takes the lead role. But firms such as Milberg have allegedly found a way around that. State controllers decide where institutional investors put their money and which law firms represent them. Those are the same firms that make campaign contributions to state comptrollers, raising the question: Do comptrollers recommend firms to represent their states based on how much money was donated to their campaign?
That may be debatable, but New York State Comptroller Alan Hevesi received $100,000 from Milberg Weiss for his 2002 campaign and $13,500 from Melvyn Weiss and senior partner William Lerach. (Lerach left Milberg in 2004 and formed his own firm in California.)
“These types of contributions aren’t illegal; it’s a practice that’s under fire,” says Bruce Carton, vice president of shareholder services at Institutional Shareholder Services. “In a perfect world, that decision making would not be affected by political donations.”
Others that stand to gain from Milberg’s predicament are firms that represent members of the classes that didn’t initially hold lead status. That’s because the indictment leaves room for attorneys in class-action cases to lobby the court to unseat them as lead plaintiff. Those attorneys are likely to argue that Milberg was made lead counsel based on its reputation and because it follows the rules of the court. Now, all of that is in question.
The indictment is already affecting Milberg’s notorious ability to gain lead status. Last month, a Delaware judge denied the firm the lead counsel role in a case that involves Russia's largest oil producer, OAO Lukoil Holdings (other-otc: LUKOY - news - people ), and its proposed takeover of Chaparral Resources (otcbb: CHAR.OB - news - people ), a Kazakhstan subsidiary.
And last week Ohio Attorney General Jim Petro appointed Cincinnati firm Waite, Schneider, Bayless & Chesley to represent the Ohio Tuition Trust Authority in its case against the Putnam American Government Income fund. New York’s Hevesi is going to appoint a replacement in the New York State Common Retirement Fund class action against Bayer AG (nyse: BAY - news - people ).
Much has been made about the similarities between Milberg Weiss and the fall of accounting behemoth Arthur Anderson. But we’re not likely to see the demise of securities class-action suits. There’s simply too much competition out there. Plus, there’s already speculation that several attorneys from Milberg will form their own firm.
“If they were to disappear tomorrow, I doubt very little would change,” says Joseph Grundfest, a professor at Stanford University Law School and former Securities and Exchange commissioner. “The same companies would be sued, the same causes of action would be pursued.”
ODC - Oil-Dri Announces Five-for-Four Stock Split and Quarterly Cash Dividends; Dividend Payout to Increase 25%
Tuesday June 6, 5:55 pm ET
CHICAGO, June 6 /PRNewswire-FirstCall/ -- The Board of Directors of Oil-Dri Corporation of America (NYSE: ODC - News) today approved two measures that will increase this quarter's cash dividend by approximately 25%.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020417/ODCLOGO )
Oil-Dri's Board announced a five-for-four stock split, to be effected by a stock dividend of one-quarter share for each outstanding share of the Company's Common Stock and Class B Stock. The Board also declared quarterly cash dividends of $0.12 per share of outstanding Common Stock and $0.09 per share of outstanding Class B Stock, to be paid on the increased number of outstanding shares after the five-for-four stock split. For stockholders continuing to hold their shares through the record date, the result will be a 25% increase in the amount of the quarterly cash dividend payout they receive.
The stock and cash dividends will be payable on September 8, 2006 to stockholders of record at the close of business on August 4, 2006. The stock dividend will be paid only in whole shares; any fractional shares resulting from the stock split will be accumulated by the Company's transfer agent, sold and then distributed in the form of cash on a pro rata basis to any stockholders who would have received fractional shares.
The Company has paid cash dividends continuously since 1974.
Oil-Dri Corporation of America is a leading supplier of specialty sorbent products for industrial, automotive, agricultural, horticultural and specialty markets and the world's largest manufacturer of cat litter.
This release contains certain forward-looking statements regarding the company's expected performance for future periods, and actual results for such periods might materially differ. Such forward-looking statements are subject to uncertainties which include, but are not limited to, intense competition from much larger organizations in the consumer market; the level of success in implementation of price increases and surcharges; increasing acceptance of genetically modified and treated seed and other changes in overall agricultural demand; increasing regulation of the food chain; changes in the market conditions, the overall economy, volatility in the price and availability of natural gas, fuel oil and other energy sources, and other factors detailed from time to time in the company's annual report and other reports filed with the Securities and Exchange Commission.
--------------------------------------------------------------------------------
Source: Oil-Dri Corporation of America
W2 Energy SqueezeTrigger Price is $0.13; Approximately 5.6 million Shares Shorted Since January 2005 According to Buyins.net Research Report
Wednesday June 7, 9:00 am ET
NEW YORK, June 7, 2006 (PRIMEZONE) -- http://www.buyins.net is initiating coverage of W2 Energy, Inc. (Other OTC:WWEN.PK - News) after releasing the latest short sale data to June 2006. From January 2005 to June 2006 approximately 72.2 million total aggregate shares of WWEN have traded for a total dollar value of nearly $9.1 million. The total aggregate number of shares shorted in this time period is approximately 5.6 million shares. The WWEN SqueezeTrigger price of $0.13 is the volume weighted average short price of all short selling in WWEN. A short squeeze is expected to begin when shares of WWEN close above $0.13. To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.
Month Total Vol. Short Vol. Avg. Price Short $ Value
January '05 367,591 28,305 $0.13 $3,609
February 1,240,317 95,504 $0.13 $12,177
March 774,063 59,603 $0.08 $4,619
April 1,531,086 117,894 $0.06 $7,368
May 776,396 59,782 $0.06 $3,587
June 981,656 75,588 $0.08 $6,236
July 687,072 52,905 $0.09 $4,962
August 1,310,363 100,898 $0.06 $5,549
September 2,657,803 204,651 $0.04 $8,698
October 2,136,100 164,480 $0.05 $8,504
November 2,111,314 162,571 $0.06 $9,153
December 1,037,591 79,895 $0.05 $3,779
January '06 1,114,822 85,841 $0.04 $3,133
February 663,204 51,067 $0.04 $1,941
March 1,325,599 102,071 $0.03 $2,889
April 1,811,617 139,495 $0.04 $5,161
May 45,159,620 3,477,291 $0.17 $577,926
June 6,558,536 505,007 $0.07 $34,593
Total: 72,244,750 5,562,846 $0.13 $703,883
NOTE: Short volume is approximated using a proprietary algorithm.
Average short price is calculated using a volume weighted
average short price.
Short volume is the total short trade volume and does
not account for covers.
WWEN On OTC Naked Short Threshold List
On List Off List # Days
January 7, 2005 January 13, 2005 5
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W2 Energy, Inc. has been on the OTC Naked Short Threshold list 1 time. Regulation SHO took effect January 3, 2005, and provides a new regulatory framework governing short selling of securities. It was designed with the objective of simplifying and modernizing short sale regulation and providing controls where they are most needed. At the conclusion of each settlement day, data is provided on securities in which: 1) there are at least 10,000 shares in aggregate failed deliveries for the security for five consecutive settlement days, and 2) these failures constitute at least 0.5% of the issuer's total shares outstanding. SEC Regulation SHO, under the Securities Exchange Act of 1934, mandates that, if a clearing agent has had a fail-to-deliver position for 13 consecutive settlement days, that clearing agent, and the broker/dealer it clears for, must purchase securities to close out its fail to deliver position.
About W2 Energy, Inc.
W2 Energy, Inc. is a growing, publicly traded company that develops renewable energy technologies and applies it to new generation transportation fuel and electrical power systems. Specifically, W2 Energy Inc. produces Green Energy (Energy derived from non polluting sources or fossil fuels) utilizing its core-patented technologies to produce green energy generating plants and applications. W2 Energy Inc. has seasoned management, cutting edge technology and owns a large technology portfolio of patents and know-how that has been extensively validated and ready for commercial production.
About BUYINS.NET
WWW.BUYINS.NET is a service designed to help bonafide shareholders of publicly traded US companies fight naked short selling. Naked short selling is the illegal act of short selling a stock when no affirmative determination has been made to locate shares of the stock to hypothecate in connection with the short sale. Buyins.net has built a proprietary database that uses Threshold list feeds from NASDAQ, AMEX and NYSE to generate detailed and useful information to combat the naked short selling problem. For the first time, actual trade by trade data is available to the public that shows the attempted size, actual size, price and average value of short sales in stocks that have been shorted and naked shorted. This information is valuable in determining the precise point at which short sellers go out-of-the-money and start losing on their short and naked short trades.
BUYINS.NET has built a massive database that collects, analyzes and publishes a proprietary SqueezeTrigger for each stock that has been shorted. The SqueezeTrigger database of nearly 800,000,000 short sale transactions goes back to January 1, 2005, and calculates the exact price at which the Total Short Interest is short in each stock. This data was never before available prior to January 1, 2005, because the Self Regulatory Organizations (primary exchanges) guarded it aggressively. After the SEC passed Regulation SHO, exchanges were forced to allow data processors like Buyins.net to access the data.
The SqueezeTrigger database collects individual short trade data on over 7,000 NYSE, AMEX and NASDAQ stocks and general short trade data on nearly 8,000 OTCBB and PINKSHEET stocks. Each month the database grows by approximately 50,000,000 short sale transactions and provides investors with the knowledge necessary to time when to buy and sell stocks with outstanding short positions. By tracking the size and price of each month's short transactions, BUYINS.NET provides institutions, traders, analysts, journalists and individual investors the exact price point where short sellers start losing money and a short squeeze can begin.
All material herein was prepared by BUYINS.NET, based upon information believed to be reliable. The information contained herein is not guaranteed by BUYINS.NET to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this opinion have not approved the statements made in this opinion. A third party has paid $995.00 to purchase data for information provided in this report. The third party and his family or affiliates may own shares of WWEN and may profit should the share price increase. The data service can be cancelled at any time. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. BUYINS.NET is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on or mentioned herein. BUYINS.NET will not advise as to when it decides to sell and does not and will not offer any opinion as to when others should sell; each investor must make that decision based on his or her judgment of the market.
BUYINS.NET and SQUEEZETRIGGER are intended for use by stock market professionals. As a member, visitor, or user of any kind, you accept full responsibilities for your investment and trading actions. The contents of BUYINS.NET, including but not limited to all implied or expressed views, opinions, teachings, data, graphs, opinions, or otherwise are not predictions, warranty, or endorsements of any kind. Please seek stock market advice from the proper securities professional, or investment advisor.
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Past performance is not a guarantee of future outcomes. Any and all examples are hypothetical and should not be considered a guarantee or endorsement of such trading activity. BUYINS.NET does not take responsibility for problems of any kind, including but not limited to issues with operations, data accuracy or completeness, contacting issues, technical issues, and timeliness. BUYINS.NET places great integrity on the data collected and distributed. This information is deemed reliable, but not guaranteed. All information and data is provided ``as is'' without warranty or guarantee of any kind.
Please seek investment and/or trading advice, council, information or services from a securities professional. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and BUYINS.NET undertakes no obligation to update such statements.
This release contains ``forward-looking statements'' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. ``Forward-looking statements'' describe future expectations, plans, results, or strategies and are generally preceded by words such as ``may,'' ``future,'' ``plan'' or ``planned,'' ``will'' or ``should,'' ``expected,'' ``anticipates,'' ``draft,'' ``eventually'' or ``projected.'' You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.
Contact:
W2 Energy
info@w2energy.com
www.w2energy.com
UPDA: Canyon Creek Continues to Expand Production in North Texas
Friday June 2, 8:30 am ET
HOUSTON--(BUSINESS WIRE)--June 2, 2006--Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News) continues to receive promising reports from the North Texas properties of its Canyon Creek subsidiary. All of Canyon Creek's Archer county wells except for the West Vogtsberger #11 are now producing oil and gas and on June 5th the Texas Railroad Commission H-5 test will be conducted on that well after which it will be returned to production.
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Loads of oil have been sold off the Block and the Mahler leases and a load will be sold off the East Vogtsberger as soon as a vacuum truck can take two feet of water out of the storage tank, hopefully within a week. The East Hagler lease recently sold a load of oil and will have its gas production restored in the near future. The Hagler Capps field continues producing from its well #21 and additional wells will be brought to production as soon as the packer on the field's injection well is reset.
The production from all of its properties will be reported by UPDA as it continues to update its website at www.universalpropertydevelopment.com.
About UPDA
Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News) focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the creation of joint ventures with under-funded owners of mineral leases and cutting-edge technologies.
About CCOG
Canyon Creek Oil & Gas Inc. was formed in July 2005 as a joint venture corporation for the purpose of acquiring currently producing oil and gas properties, low risk drilling prospects and existing wells in need of state-of-the-art technology to improve profitability. Canyon Creek Oil and Gas Inc. now has over 60 wells located on more than 2,000 acres in the Fort Worth basin. The Company has also acquired properties located in Inez Field in Victoria County and Giddings Gas Field in Fayette County, Texas. Canyon Creek continues a revitalization program on all of its properties in order to improve production and bring more wells on line.
Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or described pursuant to similar expressions.
Contact:
Universal Property Development and Acquisition
Corporation
Bradford Moore, 561-630-2977 (Investor Relations)
info@updac.com
--------------------------------------------------------------------------------
Source: Universal Property Development and Acquisition Corporation
TGA: First Quarter Report for TransGlobe Energy Corporation
http://yahoo.ar.wilink.com/?mkt_code=YAH-HDLN-A&ticker=TGA&1149223864
Dune Energy Acquires Additional Leasehold Interests on Fairway of Barnett Shale
Friday June 2, 8:18 am ET
HOUSTON, June 2 /PRNewswire-FirstCall/ -- Dune Energy, Inc. (Amex: DNE - News; "Dune") announced today that it has, in accordance with its existing asset Purchase and Sale Agreement with Voyager Partners, Ltd., acquired additional leaseholds located in Denton County, Texas, on the fairway of the Fort Worth Basin Barnett Shale. The purchase price for this transaction, net of adjustments, was $5.5 million, or $1.19 per Mcfe of net proved reserves ($1.90 per Mcfe for fully developed leases). This acquisition provides Dune with three shut-in wells, of which two are awaiting fracture stimulation ("frac"), as well as three additional proved undeveloped (PUD) locations. The shut-in wells are awaiting pipeline connection, and are expected to be in production by September 1, 2006.
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Dr. Amiel David, President and COO, stated, "We have just completed another extremely cost effective purchase on the sweet spot of the Barnett Shale play. We expect to commence our aggressive drilling program shortly, as we anticipate a rig to be on our property within 20 days, which Dune will use to drill four locations. In addition, we also expect to accept delivery of another rig under a two-year dedicated contract on or about August 1, 2006, as previously stated on April 11, 2006."
Dune is an aggressive and rapidly growing oil and gas exploration and production company with operations presently concentrated along the Louisiana/Texas Gulf Coast as well as the Fort Worth Basin Barnett Shale. Additional information is available at http://www.duneenergy.com.
FORWARD-LOOKING STATEMENTS: This document includes forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning estimates of expected drilling and development wells and associated costs, statements relating to estimates of, and increases in, production, cash flows and values, statements relating to the continued advancement of Dune Energy, Inc.'s projects and other statements which are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may," "potential," "should," and similar expressions are forward-looking statements. Although Dune Energy, Inc. believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include the potential that the Company's projects will experience technological and mechanical problems, geological conditions in the reservoir may not result in commercial levels of oil and gas production, changes in product prices and other risks disclosed in Dune's Annual report on Form 10-KSB filed with the U.S. Securities and Exchange Commission.
Contacts: Alan Gaines, Chairman & CEO
Dune Energy, Inc.
713-888-0895
Jack Lascar, Partner
DRG&E
713-529-6600
HYBT: Hybrid Technologies, Inc. 'OTCBB:HYBT' and NASA Kennedy Space Center Lithium Vehicles in the News
Friday June 2, 7:30 am ET
NEW YORK, NEW YORK--(MARKET WIRE)--Jun 2, 2006 -- NASA executives discuss benefits of KSC's latest vehicles as Hybrid vehicles featured in NASA article
Hybrid Technologies, Inc. (OTC BB:HYBT.OB - News) www.hybridtechnologies.com, emerging leaders in the development and marketing of lithium powered products worldwide, is pleased to announce the following article featuring NASA and Hybrid produced Smart Car and PT Cruiser test vehicles in government service at NASA's John F. Kennedy Space Center.
Click here to see article: http://www.hybridtechnologies.com/pressReleases/20060527_Nasa.pdf
The lithium vehicles are part of a Space Act Agreement with NASA's John F. Kennedy Space Center ("KSC") to determine the utility of lithium powered fleet vehicles produced by Hybrid Technologies.
Click here for more information on NASA's Space Act Program: http://ksc.nasatechnology.com/resources/partners.asp?part=opp
About NASA: http://www.nasa.gov/home/
About Hybrid Technologies: www.hybridtechnologies.com
Forward-Looking Statement
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.
Contact:
Contacts:
Hybrid Technologies, Inc.
Media Contact
888-HYBTECH (888-492-8324)
(702) 926-9508 (FAX)
pr@hybridtechnologies.com
Hybrid Technologies, Inc.
Investor Relations
(888) 669-1808
(702) 926-9508 (FAX)
info@hybridtechnologies.com
http://www.hybridtechnologies.com
Micron Enviro Looking to Increase Interest in Oil and Gas Prospects
Friday June 2, 8:00 am ET
VANCOUVER, British Columbia, June 2, 2006 (PRIMEZONE) -- Micron Enviro Systems, Inc. (OTC BB:MSEV.OB - News) (Frankfurt:NDD.F - News) (``Micron'') has entered negotiations to increase its interests in certain oil and gas and/or oil sands prospects that it currently has interests in. A final decision on this increase will be concluded by the board shortly.
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Micron has recently announced plans to forward split its stock on a 3 for 1 basis for shareholders of record on June 12, 2006. What this means is that for each one share you own on that day, you will hold three shares of Micron stock after the split. For example, if you own 100,000 shares as of record date (June 12, 2006) you will hold 300,000 of the new shares with a new CUSIP number, giving you ownership of a total of 300,000 shares of Micron. Management feels a forward split would reward the existing and new shareholders of record and assist in curbing the possible naked shorting of the stock.
Bernie McDougall, President of Micron stated, ``It makes sense to try to increase the interest we have in our existing properties as we feel that all of our current prospects in Alberta hold the possibility to enable Micron to achieve its goal of becoming a mid-range oil and gas producer. At this time, Micron is one of if not the smallest market capitalized companies with exposure to multiple Alberta Oil Sands prospects.''
Micron has also just recently added three new Alberta Oil Sands leases consisting of 4 new sections in the world-class Athabasca Oil Sands region. Two of these new sections are within 5 miles of Micron's existing Athabasca Oil Sand Prospect. These two new sections are close to the existing Oil Sands leases held by Connacher Oil and Gas's Great Divide Prospect, as well as to other major Oil Sands projects by Devon, EnCana, and ConocoPhilips. The other new Alberta Oil Sands lease acquired consists of two contiguous sections that lie just southwest of the announced Royal Dutch Shell Plc Oil Sands leases which they recently purchased for approximately $400 million.
Micron is an emerging oil and gas company that has exposure to four separate leases in the Athabasca Oil Sands of Alberta, Canada, which is the largest Oil Sands region in the world, and has production from multiple conventional oil and gas wells. Micron is one of if not the smallest market capitalized companies with exposure to multiple Alberta Oil Sands. Micron's goal is to become a junior oil and gas producer that focuses on the exploration, discovery and delivery of gas and oil to the North American marketplace. Micron currently has multiple independent sources of oil and/or gas revenue from production in Canada and Texas. Micron is presently involved in multiple oil and gas prospects, and continues to look for additional projects that would contribute to building Micron's market capitalization, including additional Oil Sands projects.
If you have any questions, please call Micron at (604) 646-6903. If you would like to be added to Micron's update email list, please send an email to info@micronenviro.com requesting to be added.
This news release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as ``may,'' ``should,'' ``expects,'' ``plans,'' ``anticipates,'' ``believes,'' ``estimates,'' ``predicts,'' ``potential'' or ``continue'' or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results. Readers are referred to the sections entitled ``Risk Factors'' in the Company's periodic filings with the United States Securities and Exchange Commission, which can be viewed at http://www.SEC.gov. For all details regarding working interests in all of MSEV's oil and gas prospects or any previous news releases go to the SEC website. You should independently investigate and fully understand all risks before making investment decisions.
Contact:
Micron Enviro Systems, Inc.
Bernie McDougall
(604) 646-6903
(604) 689-1733, Fax
ir@micronenviro.com
www.micronenviro.com
SUF: SulphCo, Inc. Begins Shipping Equipment for 210,000 Barrel Per Day Sonocracking(TM) Project in Fujairah
Thursday June 1, 2:56 pm ET
SPARKS, Nev., June 1 /PRNewswire-FirstCall/ -- SulphCo, Inc. (Amex: SUF - News) announced today, that the first shipment of Sonocracking (TM) equipment for Fujairah Oil Technology, LLC, SulphCo's joint venture with the Government of Fujairah, had left Germany on May 31st, according to its previously announced schedule, for arrival in Dubai by mid-June.
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NTG, the Germany-based company responsible for building the equipment, has confirmed the May 31st shipping and further indicated that all remaining prefabricated equipment shipments, which are ready for installation, will be leaving Germany en route to the UAE according to schedule throughout the month of June.
"We are very excited that the first shipment of Sonocracking (TM) equipment has successfully left Germany and is on its way to Fujairah where we will begin the next phase of implementing our ultrasound technology," remarked Dr. Rudolf W. Gunnerman, Chairman and CEO of SulphCo. "We, along with our manufacturing partner NTG, are confident that we will continue to adhere to our schedule of shipments and deliveries throughout the project's development."
About SulphCo, Inc.
SulphCo has developed a patented safe and economic process employing ultrasound technology to desulfurize and hydrogenate crude oil and other oil related products. The company's technology upgrades sour heavy crude oils into sweeter, lighter crudes, producing more gallons of usable oil per barrel.
From time to time, the company may issue forward-looking statements, which involve risks and uncertainties. This statement may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as actual results could differ and any forward-looking statements should be considered accordingly.
*Photographs of the project available upon request
Westside Energy to Participate in RBC Capital Markets Energy Conference
Thursday June 1, 5:05 pm ET
HOUSTON, June 1 /PRNewswire-FirstCall/ -- Westside Energy Corporation (Amex: WHT - News), an oil and gas company with operations focused on the acquisition, exploration and development of natural gas in the Barnett Shale play in North Texas, today announced that it will be participating in the upcoming RBC Capital Markets Energy Conference to be held in Boston on June 5-7, 2006.
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Douglas G. Manner, Westside's recently named Chief Executive Officer, will provide institutional investors with an update on the Company's active 2006 Barnett Shale drilling program. The format of the conference is a series of one-on-one meetings rather than the traditional group presentation and break-out session. There is no webcast available from the conference; however, investors and other interested parties may find the slides from Westside's presentation by logging onto www.westsidenergy.com.
About Westside Energy Corporation
Houston-based Westside Energy is an oil and gas company focused on exploiting its 73,925 gross (65,989 net) acres in the prolific Barnett Shale trend in North Texas. For more information about Westside Energy, please visit the Company's website www.westsideenergy.com.
SYNM: CORRECTING and REPLACING Syntroleum to Present Detailed Economics on its GTL Projects and Compelling Opportunities
Thursday June 1, 5:53 pm ET
TULSA, Okla.--(BUSINESS WIRE)--June 1, 2006--The URL for the company's webcast should read: http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=SYNM&script=101 0&item_id=1327342. (sted: http://www.corporateir.net/ireye/ir_site.zht ml?ticker=SYNM&script=1010&item_id=1327342.)
The corrected release reads:
SYNTROLEUM TO PRESENT DETAILED ECONOMICS ON ITS GTL PROJECTS AND COMPELLING OPPORTUNITIES
Syntroleum Corporation (Nasdaq:SYNM - News), a leader in the Fischer-Tropsch (FT) industry, announced that it will hold its second annual analyst day on June 6. Among the topics of discussion are a review of the rapidly advancing commercial opportunities facing the company and the company's analysis of the detailed economics pertaining to its technology and business activities.
Specifically, the discussion will include, but is not limited to:
A review of key commercial developments and priorities.
Detailed economics involving land-based gas-to-liquids (GTL) plants.
Findings from a detailed feasibility study on constructing the world's first GTL/Oil Floating Production Storage and Offloading vessel.
Targeted oil and gas reserves capable of near cash flow production.
A review of Syntroleum's technological advancements.
An update on Syntroleum's coal-to-liquids potential and activities.
This event will highlight Syntroleum's thorough economical analysis involving its business development efforts and more than 20 years of research and development. Through the presentations, Syntroleum will illustrate its upside potential and unique competitive advantage as the company moves toward financial close on a FT plant. This analyst meeting is intended to clearly differentiate Syntroleum from its competitors, including its level and quality of analysis.
The event will be held at the Renaissance Hotel in Tulsa beginning at 8:30 a.m., CDT. The day will include data presentations and tours of Syntroleum's catalyst lab and demonstration plant, where more than 334,000 gallons of ultra-clean products have been produced since 2003. Syntroleum speakers at the event will be Jack Holmes, president and CEO; Ken Agee, chairman and chief research officer; Greg Jenkins, executive vice president of business development and chief financial officer; Gary Roth, executive vice president of engineering and technology; and Ron Stinebaugh, senior vice president of finance and acquisitions.
To attend the event in person, RSVP to Mel Scott at mscott@syntroleum.com. The event also will be available to the company's shareholders and the general public via a webcast at
http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=SYNM&script =1010&item_id=1327342. (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)
Young Oil Corp: BIG NEWS about OMOG's lawsuit:
Young Oil Corp. Says OMDA Oil & Gas, Inc. (OTC Pink Sheets: OMOG) Lawsuit is all About Dry Holes
Wednesday, May 31, 2006 07:01 ET
KNOB LICK, Ky., May 31, 2006 /PRNewswire via COMTEX/ -- The lawsuit recently filed against Young Oil Corporation and others by OMDA Oil & Gas, Inc. (OTC Pink Sheets: OMOG) is nothing more than an attempt by OMDA to get their money back after not getting the results they wanted for some of the wells drilled with Young Oil, a company executive said here today.
"Every oil and gas man knows there are no guarantees in well drilling and you don't get your money back if you drill a dry hole. We will not give their money back and we will vigorously defend this baseless suit," said owner and founder Anthony Young, CEO, of Young Oil Corp.
"We have one of the best commercial well to dry hole ratios in the state of Tennessee. Since 1995, we have drilled literally hundreds of producing wells; however, from time to time, dry holes are a fact of life in the oil and gas business," stated Mr. Young.
State of Tennessee Geologist, Ronald P. Zurawski, said, "In 2004, the overall success rate for all drillers in Tennessee was slightly more than 17%."
"This was a one time shot for OMDA. When we gave them the bad news, they cried foul and wanted their money back. We offered to try to resolve the matter but they declined. They told us they weren't interested in doing so," said Mr. Young.
"The next thing we know, they file a lawsuit in Texas accusing us, among a host of other things, of failing to drill wells, some of which their company representatives actually watched being drilled when they toured the field. They have made so many convoluted and twisted allegations of the facts that I look forward to having the truth come out. These distortions have personally greatly offended me and have caused our company harm. We will aggressively defend this lawsuit and take whatever actions and counterclaims that are available," stated Mr. Young.
"OMDA's history appears to be one of making a practice of being in litigation or in announcing transactions and then canceling them. One really wonders what their real business motivations and objectives are, given their track record," Young noted.
Young Oil Corporation is a privately owned oil and gas exploration and production firm, with operations in Kentucky and Tennessee. Anthony Young personally has twice been awarded Oil Man of the Year for his performance and contributions to the oil and gas industry in the State of Tennessee and has been featured in newspapers, television and radio shows around the world.
SOURCE Young Oil Corporation
Anthony Young of Young Oil Corporation, +1-270-453-3208
http://www.prnewswire.com
Copyright (C) 2006 PR Newswire. All rights reserved.
Zauralneftegaz Secures Two New Licenses in West Siberia
Thursday June 1, 1:30 pm ET
NEW YORK--(BUSINESS WIRE)--June 1, 2006--Siberian Energy Group, Inc. (OTC BB: SIBN - News), a U.S.-based oil and gas exploration company, has secured two new 25-year exploration and production licenses in West Siberia through OOO Zauralneftegaz (ZNG), its 50/50 Joint Venture with Baltic Petroleum (E&P) Ltd operating the company.
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On May 22, the Company disclosed ZNG's plan to bid for a total of five new exploration and production licenses in West Siberia. The first two auctions for Yuzhno-Voskresensky and Petuhovsky were completed May 31, 2006. Another license is due for auction June 14, 2006 (the Lebyazhevsky block), while the auctions for the remaining two licenses are expected in the fourth quarter of 2006.
David Zaikin, president and CEO of Siberian Energy, said: "I view the attainment of these two new licenses as significant to the Company's overall strategy. In addition to their geological and geographical significance they also contribute to ZNG's existing holdings in the Kurgan region and stress our commitment to the local community."
ZNG currently owns four exploration licenses comprising 644,000 acres in the Kurgan Region of West Siberia. With the addition of the two new licenses, ZNG's total holdings cover 979,000 acres.
Within the next 20 days, pending the formal confirmation by the Ministry of Natural Resources, ZNG will have access to the results of previously conducted seismic surveys through the Geological Fund of the Ministry of Natural Resources of the Russian Federation.
About Siberian Energy Group
Siberian Energy is one of the few U.S.-based public oil and gas exploration companies with 100% of its assets located in West Siberia, Russia.
The Company evaluates investment and acquisition opportunities in Russia and Eastern Europe with the goal of bringing a portfolio of natural resource licenses and operating companies to Western investors. Siberian Energy strives to provide an attractive ROI to shareholders by pursuing high-yield investment projects, reducing costs, and adhering to strict principles of transparency, disclosure and environmental consciousness. Additional information can be found at www.siberianenergy.com.
FORWARD-LOOKING STATEMENTS: The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date thereof. Readers should carefully review the risks described in other documents the company files from time to time with the Securities and Exchange Commission, including Annual Reports, Quarterly Reports and Current Reports on Form 8-K.
Contact:
Siberian Energy Group, Inc.
David Zaikin, 212-828-3011
Chief Executive Officer
or
The Investor Relations Group
Katrine Winther-Olesen/Jordan Silverstein, 212-825-3210
Investor Relations
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