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This one is golden and very quiet. been watching closely..its due
approx 23m o/s:
http://www.pemc.us/15c211July2010a.pdf
photos from PEMC website:
http://www.pemc.us/gallery/index.html
QEP resources-one of top 25 largest natural gas producers:
http://www.fool.com/investing/general/2011/09/11/the-25-largest-natural-gas-producers.aspx
farmout agreement w/ NYSE company trading @ $32/share:
http://www.qepres.com/
no idea still in DD process
What does that mean for PEMC's reserves? Was this property part of their stated reserves, or were they just the operator?
A group led by Entrada Enterprises LLC, a Nevada corporation, has acquired 100% of the assets of Delta Petroleum Corporation of Denver, Colorado, in Grand and Emery Counties, Utah. The assets include approximately 43,000 gross acres of oil and gas leases, gathering lines, power plant, gas processing plant and interests in four wells. Pacific Energy & Mining Company (PINKSHEETS: PEMC) is the operator of the properties.
About Pacific Energy
Pacific Energy owns interests in the Greater Cisco Oil Field, the Brennan Bottom Oil Field, the Johnson Bottom Unit and Cedar Rim Oil Field. Pacific Energy Operates oil wells in the Greater Cisco Field and the Greentown Fields in Grand County, Utah.
Disclaimer
The foregoing contains forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Such forward-looking statements involve certain risks and uncertainties. The actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or further changes make it clear that any projected results (expressed or implied) will not be realized.
Contact:
Pacific Energy and Mining
(775) 852-7444
IMO - no other reason than that there is no market (and no liquidity) for the stock, and $15.84 will move it 900%. Reserves or no reserves, there is no reason to invest here.....Since the company is not interested in developing a following amongst potential investors, the only value left is in the potential sale of the reserves. I'm sure the former owners of CUNG are quite happy with their trade.....
PEMC announced news this morning and the bid shows a gap.
Need info please!! I invested in this company from the begining (2005 or '06?), back when it was Colorado Utah Nat Gas. The price has remained stagnant to put it mildly, I have had absolutley NO contact from the company, can't get calls returned, etc. I've never received a dividend or any other type of ROI. Whatever happend to the sale to BayHill? I see most of the press releases and the company appears productive and profitable, but where's the investor support?
Some of you guys seem to be more up on what is going on (admittedly, I have not paid the attention to it that I should have) and I was hoping to get brought up to speed since I can't get anything out of the Company. Any info or dialouge would be greatly appreciated. I'm in Texas otherwise I would be camped out at their corporate office and get some answers.
Thanks in advance!
What A joke. What a joke. This has gone on long enough at least since 2006 . Just a bunch of lies and broken promises.
Someone call the CEO and tell him to park $100K of that oil money in his account and place an order to buy shares of PEMC @ $1.00 - this is ridiculous.
What are these guys doing? Trying to make another deal?
This is the slowest turn around for an investment. What has it been 6 years or longer? I just don't see much going on with this company. Lots of announcements but not action. If anything you wont make money but yes you will read a lot of press releases. I give this company two thumbs down. There never did any thing when oil was 140.00 a barrel. Hope they do prove me wrong but all I see and hear is one lie after another.
moneyfoo-
I will make money with this company - just a matter of when. My concern now is how Bayhill's stock is performing in the marketplace - would like to see more than 5.5M shares of Bayhill for the Cisco properties. More like 20M.....
This company and stock is a joke .005. If you think you will make $$$$ with this company get ready for a long hard depression. WHAT A JOKE
Pacific Energy Signs Letter of Intent
On Monday June 15, 2009, 6:30 am EDT
Buzz up! Print Related:BayHill Capital Corp.
RENO, NV--(MARKET WIRE)--Jun 15, 2009 -- Pacific Energy & Mining Company (Other OTC:PEMC.PK - News) today announced the execution of a letter of intent (LOI) to sell oil and gas interests from its holdings in Grand County, Utah to BayHill Capital Corporation ("BayHill") (OTC BB:BYHL.OB - News). PEMC will receive shares in BayHill for its interest in Cisco oil and gas property.
Related Quotes
Symbol Price Change
BYHL.OB 1.20 0.00
{"s" : "byhl.ob","k" : "c10,l10,p20,t10","o" : "","j" : ""} Properties to be acquired from PEMC known as the Greater Cisco Field with interests in a total of approximately 5,460 acres, have a total of 39 wells drilled with approximately 9 producing wells which are producing from the Mancos, Dakota and Morrison Formations at depths ranging from 300 feet to 1,100 feet. Additionaly 6 wells are awaiting pipeline connection. There is additional potential production from these formations and from the Deeper Entrada Formation at 3,000 feet.
As set forth in the LOI, the parties will use their best efforts to compete definitive purchase agreements in a timely manner. Closing will be conditioned on the following: completion of an independent reserve analysis and due diligence, agreement on the number of shares to be issued to each of the parties, approval by the Board of Directors, shareholders, and managers of each of the parties as required, and execution of definitive agreements.
It is anticipated by all parties that the Board of Directors of the Company will be reconstituted to include three directors nominated by the other parties and one director nominated by Pacific Energy & Mining Company.
About PEMC
The Company owns a 16.67% interest in Mar/Reg Investments, a General Partnership, through which it holds working interest in oil wells in Altamont Bluebell Oil Field in Utah and working interest in numerous non-operated oil and gas wells in Oklahoma. Additionally PEMC owns its interest in Brennan Bottoms Oil Field in Uintah County, Utah.
Disclaimer
The foregoing contains forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Such forward-looking statements involve certain risks and uncertainties. The actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or further changes make it clear that any projected results (expressed or implied) will not be realized.
I wonder how many shares PEMC will receive for the Cisco properties....
BayHill Capital Corporation Announces Execution of Letters of Intent to Acquire Oil and Gas Properties
On Thursday June 11, 2009, 8:05 pm EDT
Buzz up! Print Related:BayHill Capital Corp.
SOUTH JORDAN, UT--(MARKET WIRE)--Jun 11, 2009 -- BayHill Capital Corporation ("BayHill") (OTC BB:BYHL.OB - News) today announced the execution of letters of intent (LOIs) to acquire oil and gas interests from five separate parties as part of its adoption of a strategic plan to enter into the business of oil and gas production, development, exploration, and the accumulation of oil and gas reserves.
Related Quotes
Symbol Price Change
BYHL.OB 1.20 +0.19
{"s" : "byhl.ob","k" : "c10,l10,p20,t10","o" : "","j" : ""} If the LOIs lead to completed agreements, BayHill will issue up to 23,310,000 shares of its common stock to acquire 12,612 acres of oil and gas leases from five entities. BayHill presently has 2,635,560 shares of common stock issued and outstanding. If all five transactions are completed, the company would have 26,145,560 shares issued and outstanding prior to any additional fund-raising efforts. It is anticipated by all parties that the Board of Directors of the Company will be reconstituted to include two directors nominated by Genesis Energy Holdings Limited, one director nominated by Pacific Energy & Mining Company, and one director nominated by Retamco.
Properties to be acquired from Genesis Energy Holdings Limited known as the Grassy Trails Field, with a total of 5,630 acres, has 7 producing wells which are producing from the Moenkopi A at approximately 3,745 feet. There is additional potential production from this formation in the Moenkopi B and C zones and from the Sinbad Formation at 3,900 feet. In addition there is a Carbon Dioxide reservoir at approximately 2,500 feet in the Navajo Formation.
Properties to be acquired from Pacific Energy & Mining Company (Other OTC:PEMC.PK - News) known as the Greater Cisco Field with a total of 4,020 acres, has 5 producing wells which are producing from the Mancos, Dakota and Morrison Formations at depths ranging from 300 feet to 1,100 feet. There is additional potential production from these formations and from the Deeper Entrada Formation at 3,000 feet.
Properties to be acquired from Nathan Oil LLC known as the Cisco Springs Field with a total of 1,440 acres, has 4 producing wells which are producing from the Morrison Formations at depths ranging from 1,500 feet to 1,900 feet. There is additional potential production from the Dakota Formation at 1,500 feet.
Properties to be acquired from Cisco Oil LLC known as the Cisco Townsite Field with a total of 100 acres, has 2 producing wells from the Dakota and Morrison Formations at depths ranging from 500 feet to 900 feet.
Properties to be acquired from Retamco Operating, Inc. are: (1) the South Monument Butte Prospect which is an exploratory prospect with a total of 640 acres. There are no productive wells on this prospect. There is potential production from the Green River Formation at 5,500 feet and the Mesaverde Formation at 12,500 feet. and (2) the South Gordon Creek Prospect which is also an exploratory prospect. No wells have yet been drilled on this prospect. There is potential production from the Ferron Sandstone Formation at 4,000 feet.
As set forth in the LOIs, the parties will use their best efforts to complete definitive purchase agreements in a timely manner. Closing will be conditioned on the following: completion of an independent reserve analysis and due diligence, agreement on the number of shares to be issued to each of the parties, approval by the Board of Directors, shareholders, and managers of each of the parties as required, and execution of definitive agreements.
Robert K, Bench, BayHill President and Chief Executive Officer, stated: "Although we still must complete the anticipated valuation of these properties by an independent petroleum engineer, based on our review of internally generated reserve analysis by the property owners, and based on current oil prices, we believe that these properties could have proved reserves of up to $80 million in gross value, probable reserves of up to $50 million in gross value, and possible reserves of $180 million in gross value. Although there can be no assurance that further analysis by independent engineers will support previous reports or that anticipated oil and gas recoveries will come to fruition, this information was important in our decision to pursue these acquisitions.
"We believe that our strategy to become an independent oil and gas company will deliver asset value growth to our shareholders. We believe these investments, and continued investment in oil and gas reserves represent a significant opportunity for the following reasons: We have already begun the process of attracting experienced management to the Company. We believe that oil is presently under priced based on historical demand and future supply; further we believe that recent technology and recovery methods along with the present property prices and drilling costs have made development of oil more economical, that global currencies will suffer depreciation compared to commodity prices during the next several years, and that alternative sources of energy, available today, do not become economically comparable to oil at less than $100 per bbl."
About BayHill Capital Corporation
BayHill owns brands and operates companies related to Internet marketing and product distribution. Commission River Corporation, BayHill's wholly-owned subsidiary, helps product vendors and advertisers identify and utilize effective marketing methods to find targeted customers. BayHill's current brands and programs are used by thousands of web entrepreneurs who market a variety of products through the Internet on behalf of advertisers. For product advertisers, BayHill offers simplified access to a large customer market through an expert selling channel.
BayHill's management and board of directors have determined to also pursue a strategy of engaging in the production, exploration, development, and acquisition of oil and gas reserves in the Rocky Mountain Region of the Western United States.
Forward-Looking Statements
In addition to historical statements, the information set forth herein contains forward-looking statements that involve a number of risks and uncertainties that might adversely affect BayHill's operating results in the future in a material way. Certain statements are based upon assumptions as to future events that may not prove to be accurate. Such risks and uncertainties apply to our current and prospective businesses and include, without limitation: BayHill's ability to implement, and obtain funding to carry out, its present business and its new growth strategy as an independent oil and gas company, the consequences of the corporate restructuring, the possibility that the proprietary customer base in our current business will not grow as management currently expects, BayHill's possible inability to obtain additional financing, the possible lack of producing agent growth in our current business, BayHill's possible lack of revenue growth, BayHill's possible inability to add new oil and gas properties, products and services that generate increased sales, BayHill's possible lack of cash flows, BayHill's possible failure to hold, attract and keep key personnel, BayHill's possible failure to replace reserves, BayHill's use or lack of use of hedging transactions, BayHill's failure to secure and fund drilling requirements as they become due, BayHill's failure to obtain drilling services at acceptable prices and terms, weather conditions, technological changes and the possibility of increased competition, significant volatility in oil and gas prices, impact on capital markets by the broad economic downturn, impairment of oil and gas reserves, abandonment of unproved properties, adverse drilling and exploration results, Many of these risks are beyond BayHill's ability to forecast or control.
Contact:
Contact:
Robyn Farnsworth
801-816-2529 voice
801-816-2527 Fax
Email Contact
BayHill Capital Corporation
10757 South Riverfront Parkway
South Jordan, Utah 80112
http://www.bayhillcapital.com
it's about time......maybe news about another asset purchase, instead of a sale?
Well this friday there might be some great news
Well -
At least someone believes in the company.
Instead of waiting for a foreign buyer, what are the chances that PEMC simply buys more un-developed reserves, instead? This "deal" is taking far, far too long.....time to move on. They already have over $2.00 a share in reserves - let's make it $4! And with gas projected to hit $3.00 a gallon by summer, that'd be even more to our advantage.
GO PEMC!!!
yes.
Pacific Energy Acquires Natural Gas Properties
Wednesday January 14, 6:30 am ET
RENO, NV--(MARKET WIRE)--Jan 14, 2009 -- Pacific Energy & Mining Company (Other OTC:PEMC.PK - News) announces the acquisition of a 50% operating interest in 16 natural gas wells in the State of New Mexico. The wells are on a 2,000 plus acre lease in Sandoval County. Pacific Energy will be placing the natural gas wells on production during the month of February 2009. The wells are estimated to produce 250,000 cubic feet of natural gas per day. The market price of natural gas is approximately $5.00 per 1,000 cubic feet. Pacific will evaluate the production and determine the feasibility of drilling additional wells or deepening some of the wells.
ADVERTISEMENT
In July 2008, the Company entered into a Farmout Agreement with Questar Exploration and Production Company. Questar is still waiting on final approval from the United States Bureau of Land Management. Additionally the Company holds interest in the Brennan Bottoms oil field. Brennan Bottoms is composed of approximately 1,700 acres of Federal leases.
In Cisco, Utah the Company holds a direct interest in Cisco Springs oil and gas field (11 wells) and in Cisco Township oil and gas field (10 wells.)
The Company owns a 16.67% interest in Mar/Reg Investments, a General Partnership, through which it holds working interest in oil wells in Altamont Bluebell Oil Field in Utah and working interest in numerous non-operated oil and gas wells in Oklahoma.
Disclaimer
The foregoing contains forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Such forward-looking statements involve certain risks and uncertainties. The actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or further changes make it clear that any projected results (expressed or implied) will not be realized.
Contact:
Contact Information:
Investor Relations
Worldwide Financial Marketing, Inc. USA
Int'l 1 954 360 9998
US 866 360 9998
Email Contact: Email Contact
money-
Whassup?
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0.52 2500 OTO 08/19
Looks like people have decided to unload this one since August - too bad the company couldn't seal the deal while oil was @ $140 a barrel........
Anybody still here?
Fat chance - emails to principals now going unanswered.
Not good.
Some are speculating that oil will return to $100 a barrel in 6 months - maybe they're waiting for higher prices before they sell.
Just wish they'd get the deal done - tired of waiting for things were announced but never executed.
Iabsolutley agree with you on this . Its time for new People to come in.
Uh.....
oil is no longer @ all time high - maybe offers for company assets are no longer on table (wait and see, kind of like people with money now waiting to see just how low the market will go before getting back in - smart).
Company position is that they will only accept reasonable offers for company - can't fault them for that. Assets still there, were worth btwn $2.42 - $3.65 a share, definitely undervalued here. Too bad Worldwide can't close the deal with respect to generating buying of the stock. Maybe it's time for a new outfit to get this thing going.
What a joke-oil all time highs and nothing happens what a joke .
what price is that .15 whats going on
This would be a good buy if you could get it at the bid. (IF)
The company is still hoping to sell; there might be other interested parties for the oil and gas assets, but apparently nothing in stone.
Shame - wish they could have sold when oil was $145 a barrel and climbing......
Nothing so far . There are alot of news releases.
do u hear anything new?
Volume picking up yay
Hope they run this better than the oil company -
News-
PEMC Announces Letter of Intent to Acquire Cable Company
Monday June 16, 6:30 am ET
RENO, NV--(MARKET WIRE)--Jun 16, 2008 -- Pacific Energy & Mining Co. (Other OTC:PEMC.PK - News) is pleased to announce that the Company has signed a Letter of Intent (LOI) to acquire Satview Broadband Ltd., a Cable Television Operator based in Reno, Nevada. Satview has operations in California, Nevada and Utah. Satview Broadband Ltd. is owned by an affiliated party. The letter of intent is subject to the due diligence. Terms were not disclosed.
The Board of Directors has directed Management to divest the Company of its oil and gas holdings. Furthermore the Company intends to seek proposals from various interested parties for the purchase of its oil and gas assets.
Dan Green, Vice President and Secretary of the Company, stated, "We believe that with energy prices being strong and which, should remain strong for the foreseeable future, it is an opportunity for the Company to monetize its oil and gas assets and re-deploy these assets into a sector that we believe is undervalued."
The Company has the following reserve valuation:
Net Oil Net Gas FNOR FNOR @10%
(Thousand bbls) (Million SCF) ($ Thousands) ($ Thousands)
Proved Developed
Producing 117 248 $ 10,109 $ 5,438
Proved Behind Pipe 64 405 250
Proved Undeveloped 393 7,891 85,419 48,892
---- ------ -------- --------
Total Proved Reserves 500 8,203 $ 95,934 $ 54,581
---- ------ -------- --------
FNOR: Future Net Operating Revenues
FNOR@10%: Future Net Operating Revenues Discounted at 10 percent.
The above reserve evaluation was conducted based upon $85.00 per bbl of oil and $8.00 per MCF of natural gas. The reserves are 1.87 Million bbls of oil equivalent.
About Satview Broadband Ltd.
Satview Broadband Ltd., is franchise cable television operator that provides cable television and high speed Internet in three states. Satview is operating profitably in its cable television operations. Cable Television valuations are at a low point, therefore acquisitions in this sector result in predictable cashflows. (www.satview.net)
Disclaimer
The foregoing contains forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Such forward-looking statements involve certain risks and uncertainties. The actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or further changes make it clear that any projected results (expressed or implied) will not be realized.
Contact:
Investor Relations
Worldwide Financial Marketing, Inc. USA
Int'l 1 954 360 9998
US 866 360 9998
Email Contact
Maybe every one is a shamed and they want to stay away from this site . .25 cents a share . Does life get any worse .WHAT A JOKE . WHAT A JOKE .
IM with you on this . This a a joke .
Man-
WIth oil at record prices, you'd think any energy play would be valued at more than .25 a share.
Anybody still here? Or is it time to turn off the lights?
NEWS.
Tuesday, April 15, 2008
09:30 AM Pacific Energy & Mining Announces Reserve Evaluation MarketWire
Thursday, October 04, 2007
09:30 AM Pacific Energy & Mining Announces Negotiations for the Sale of the Company MarketWire
Wednesday, September 05, 2007
01:49 PM Pacific Energy & Mining Company Acquires Mineral Lease MarketWire
Friday, July 20, 2007
06:25 AM (OTC: PEMC) Posts Record Earnings NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IO Circuit. MarketWire
Wednesday, July 18, 2007
11:55 PM (OTC: PEMC) Reports Record Net Income NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IO Circuit. MarketWire
06:30 AM Pacific Energy & Mining Company Releases Financials MarketWire
Tuesday, June 26, 2007
06:30 AM Pacific Energy & Mining Updates Shareholders MarketWire
Wednesday, May 30, 2007
06:30 AM Pacific Energy Announces Completion of Land Sale MarketWire
Friday, May 04, 2007
06:30 AM Pacific Energy & Mining Receives Offer to Sell Interest in Uintah Basin MarketWire
Thursday, April 26, 2007
02:46 PM Pacific Energy & Mining Co. Retains Independent Auditor MarketWire
Wednesday, April 11, 2007
06:30 AM Pacific Energy Announces Completion of the Acquisition of Oil and Gas Properties From Colorado Utah Natural Gas MarketWire
Monday, March 19, 2007
05:30 AM Pacific Energy Announces Initial Geological Evaluation MarketWire
Thursday, March 08, 2007
06:30 AM Pacific Energy Announces Sale of Property MarketWire
Tuesday, March 06, 2007
06:30 AM Pacific Energy Announces Acquisition of Squaw Canyon Field MarketWire
Tuesday, February 27, 2007
06:30 AM Pacific Energy & Mining Company Announces Oil and Gas Acquisition MarketWire
Wednesday, February 14, 2007
06:30 AM Pacific Energy Announces Acqusition of Flagstone Mining Property MarketWire
Tuesday, November 21, 2006
06:15 AM Pacific Energy & Mining Announces Results of Oil Production MarketWire
Friday, October 13, 2006
01:15 PM Pacific Energy & Mining Announces Initial Sales of Natural Gas MarketWire
Monday, September 25, 2006
01:15 PM Pacific Energy & Mining Company Appoints New Officers
Have no idea - thought you knew
you tell me?
where the news
More news to come I belive should be soon .
sounds good too me book value gotta be over $3.00 a share now
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