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$UHO - Is United Hunter Oil & Gas Primed for a Climb?
Filed under: Spotlight Companies,Stocks — Brittney Barrett @ 11:17 am
With other emerging countries bidding for the same foreign oil, the price of energy in the United States has become volatile and problematic. The U.S. economy’s reliance on foreign oil has been troubling on several levels: It has pushed up inflation levels and gobbled up an out-sized portion of consumer spending. For those reasons, President Barack Obama, last month at a speech at Georgetown, announced his intentions to reduce imports of foreign oil by a third over the next decade.
This could represent a boon for domestic oil and gas companies, a possibility that seems to be receiving more coverage of late. Yesterday, a research report highlighted California-based Zodiac Exploration Inc. (CVE: ZEX) as among the few bright spots recently in the oil and gas sector. The company, active in the San Joaquin Basin of California has been attracting more attention in anticipation of increased interest and activity in the area.
The heightened interest in Zodiac represents a shift toward greater investor awareness of oil and gas exploration in that area of the United States and has the potential to spill over into companies with similar goals and geographic locations. Among them is, United Hunter Oil and Gas (TSX: UHO), whose land package in Huasna Valley in California boasts significant oil possibilities. At present, the goals for the Huasna Project are to extract a minimum of 0.5 bbls OOIP and obtain 1200 barrels per day production capabilities. Earlier this week, United Hunter announced the completion of leasing an additional 4,983 acres at the Porter Ranch in the Hausna Basin, bringing total acreage for the project up to 9,051 and thereby expanding the productivity potential for UHO.
United Hunter’s management team has been highly active, amassing more land and tapping old wells in Alberta to infuse more cash flow. Art Halleran (formerly at Canaco) and Brad Griffiths (former co-founder of GMP Securities) are leading the project, generated by legendary oil and gas explorer John Masters. The company’s market cap of $12 million is equal to its total assets of $12 million alone, creating a situation where the stock price may be undervalued by Wall Street. Given the bevy of catalysts approaching in coming months for UHO–ranging from permissions in California, greater interest in domestic oil, production from Alberta, drilling in California and involvement in additional projects–the growth prospects for this company are very bright.
UHO - Will Astronomical Oil Prices Inspire Domestic Drilling?
The political unrest in the Middle East and Libya has led to skyrocketing prices at the pump in recent weeks. Last week was no exception with crude prices closing at $104.42 on Friday, the highest benchmark U.S. crude close since September 2008 prior to the recent weeks. The Middle East; however, is not the only reason for rising gas prices according to AAA Autoclub South. The group reported that the average price of a gallon of regular unleaded gasoline in Florida was $3.546, up from $3.38 a week earlier and $3.008 a month earlier. A year to date, gas was priced at $2.662 in the state. The national average price of a gallon of regular unleaded is $3.50, up 15 cents from a week earlier.
The most sharp and most recent spike in oil prices is believed to be the result of a fear of supply limitations incurred should the conflict spread further than Libya. Retail prices are expected to increase once again this week with the average prices over $3.50 a gallon.
The drop in unemployment to 8.9 percent, the lowest level since 2009 also drove the $6.54 per barrel spike last week on the New York Mercantile Exchange according to the report.
Should the trend of rising oil continue to persist in an economy that while recovering is not recovering fast enough, the U.S. may need to look into alternatives to foreign oil. And they may need to look beneath their feet. Gas prices are predicted to rise as high as $5 in 2012 and while that’s a while away, prices that high could chip away at economic improvements. With people spending more money day-to-day on gas, they’ll spend less money on other items. They’ll be unable to afford plane tickets, which have risen three times already in 2011, vacations in general and other forms of consumer spending that will drive up the economy.
So has the time come to drill more domestically? That remains to be seen, but the topic of conversation is likely to be revisited. (The last time during the 2008 election when Sarah Palin coined the phrase, “Drill baby, drill.”) Pros, like the oil sales going toward domestic companies and fewer ties between prices and global politics may be enough to tip the scales if oil prices reach a level where they threaten other things on the political agenda like job growth and consumer spending.
http://www.equities.com/blog.php
EQUITIES Oil & Gas Highlights- UHO United Hunter Oil & Gas
UHO Corporate Contact United Hunter Oil
HUNTER OIL AND GAS CORP (TSX:UHO)
United Hunter Oil UHO
Suite 310, 700 – 4th Ave SW
Calgary, Alberta T2P 3J4
Phone:
403-667-4941
Website:
www.unitedhunteroil.com
Email:
info@unitedhunteroil.com Investor Relations
Graeme Dick
Brisco Capital Partners Corp.
Phone:
403-262-9888
Website:
www.briscocapital.com
Email:
graeme@briscocapital.com
UHO Properties Overview - HUNTER OIL AND GAS CORP
HUNTER OIL AND GAS CORP (TSX:UHO)
Highlights
Acquired 65% in the California past producing field Huasna.
Pursue three USA prospects generated by the legendary John Masters.
Additional modest growth properties in Canada and California.
Huasna Field is located in southern California near the town of San Luis Obispo, north of similar giant oil fields Oil exploration in Huasna dates back to the early 1800's and began to be explored progressively in the 1900's. Most explorers were in search of free-flowing oil that could easily be recovered without the use of technology advancements presently available.
Why Huasna?
New technology advancements in drilling and extraction techniques enable Huasna's oil field to be commercially viable.
Past geological studies provide evidence of established production:
Cold production: The discovery well drilled in 1939 to test a surface anticline cold produced 9-13° API oil from fractured Monterey Shale.
EOR steam and hot water: 2 wells drilled in 1960's produced 22,741 bbls oil after a single non-continuous steam and hot water injection.
An independent report* (NI 51-101 report) suggests: a best estimate recovery of 7,002 MSTB (net 4,551 MSTB), a high estimate of 14,004 MSTB (net 9,102 MSTB) and a low estimate of 4,201 MSTB (net 2,730 MSTB).
In California 6 bypass pay zones high graded from hundreds of leads, both light and heavy oil.
Mainly shallow reservoirs with potential confirmed by other data.
Average size pool will be 1 to 3 million bbls BOE.
Average well production will be about 50 bopd and 100,000 bbls recoverable oil.
Huasna, CA
United Hunter's Huasna project is the companies' current endeavor and management believes Huasna has the potential to be a viable resource. Previous studies have estimated an average well will produce 50 bopd and 100,000 bbls recoverable oil.
The current goals for the Huasna Project are; to extract a minimum of 0.5 billion bbls OOIP at Huasna, obtain 1200 barrels per day production capabilities, and to continually expand with other projects in Canada and California.
Key Strategy
Drilling Permits issued – Nov, 2010
First well drilled – Jan, 2011 [Production Net Cumulative]
On production – Jan 2011 [200 bopd / 130 bopd]
2nd and 3rd well drilled – April 2011
On production – May 2011 [400 bopd / 390 bopd]
Additional wells drilled (9 wells) from Nov 2011
An additional 1600 to 1800 bopd gross [1600 bopd]
HUNTER OIL AND GAS CORP (UHO)- Excelaron LLC, Huasana New Joint Venture Site!
http://www.excelaronhuasna.com/
Excelaron LLC, Huasna was formed by a group of investors in Australia (Australian Oil Company; www.austrailianoilcompany.com) in 2006 for the purpose of exploration and production of wells on the existing California Division of Oil, Gas & Geothermal Resources (CDOGGR) Huasna Oil Field.
In March of 2010, Vesta Capital Corp. (now United Hunter Oil and Gas Corp.) invested in the Excelaron Huasna project. The principals of both companies have more than 100 years of experience and work in the industry. Principals at United Hunter Oil & Gas Corp. have discovered and produced some of the largest oil discoveries in the world.
Excelaron, LLC has proposed a small drilling evaluation and production project in the Huasna Valley. The project is proposed on private property within the boundaries of an existing oilfield. The proposed project will have a very minimal footprint, and will utilize existing roads and well pads. Excelaron is currently working with the County to have an independent third party consultant complete a full Environmental Impact Report (EIR).
Drilling site in hills behind Mankin's Ranch.
Due to the evaluation nature of the project, several project phases have been developed to provide a more methodical framework to better assess the project at any given stage in the process.
http://www.excelaronhuasna.com/content/huasna_project
C. M. Florence
AICP
3427 Miguelito Court
San Luis Obispo, CA 93401
(805) 541-4509
Role:
Principal Planner and Regulatory Liaison
Experience:
For over 30 years, Ms. Florence has been involved in numerous aspects of the land planning profession for a variety of projects (e.g., oil exploration/production, solid waste facilities, sand and gravel mines, commercial, retail and residential subdivisions). During that time, she has gained a reputation for providing a disciplined and holistic approach to problem solving based on a thorough knowledge of site and land use planning, engineering and construction, environmental assessment and design. Based upon her ever-expanding technical background and skills, Ms. Florence has successfully represented clients during sensitive negotiations for the permitting of controversial projects. Her ability to coordinate and manage challenging projects and a diversity of consultants has proved invaluable to insure project compliance with federal, state and local regulatory requirements and associated governing bodies, and as importantly, to obtain community consensus.
Michael F. Cannon, P.E.
CANNON
1050 Southwood Drive
San Luis Obispo, CA 93401
(805) 544-7407
Role:
Consulting Civil Engineer – prepared Facilities Engineering Report, designed and engineered all roadway access and well pad locations.
Experience:
Michael F. Cannon is president and managing principal of Cannon, a multi-disciplinary consulting firm providing solutions to clients in oil, gas, and power generation; residential and commercial development; education; infrastructure; streets and highways; water resources; aerospace and defense, Mr. Cannon manages staff including registered civil, mechanical, and structural engineers; certified land-use planners, licensed land surveyors and landscape architects; and instrumentation and electrical engineers. Today, Cannon has offices in San Luis Obispo, Santa Maria, Santa Monica and Bakersfield, California.
Mr. Cannon is the Past President of the Society of Petroleum Engineers; Past President of the American Society of Civil Engineers – San Luis Obispo Chapter, and Past Chair of the Board of Directors for the Economic Vitality Corporation. He is a member of the Industrial Advisory Board for the College of Engineering and the BioResource and Agricultural Engineering Department at Cal Poly, and holds memberships with the National Society of Professional Engineers and the American Consulting Engineers Council. He is a member of the San Luis Obispo County Air Transportation Alliance, Membership Chair for the American Public Works Association, past member of the San Luis Obispo Children’s Museum Board (and financial sponsor), past member of the Cal Poly Foundation for the Performing Arts Center Board; and a donor/sponsor for French Hospital, and Big Brothers Big Sisters of San Luis Obispo County. Mr. Cannon was the recipient of Cal Poly’s College of Engineering Medallion Award.
Timothy S. Cleath, Principal Hydrogeologist, Geologist, HG 81, CEG 1102, RG 3675
CLEATH-HARRIS GEOLOGISTS, INC.
11545 Los Osos Valley Road, Suite C-3
San Luis Obispo, CA 93405
(805) 543-1413
Role:
Consulting Hydrogeologist – Prepared Water Resource Analysis
Experience:
Ground Water Basin Management: Water rights, hydrologic inventories, safe yield estimates, water conservation methods, basin yield optimization, institutional approaches, water quality monitoring.
Studies and Investigations: Feasibility, environmental impact, hydrogeologic, basin yield availability, ground water contamination, hazardous waste site assessment.
Design and Construction Management Services for Water Wells: Site evaluation, preliminary designs, engineer’s cost estimates, contract and specifications documents, monitor work progress and contractual compliance, record drawing.
Field Exploration: Pumping tests, drilling programs, geophysical surveys, fluid level measurements, ground water sampling, geologic mapping.
Geotechnical Investigations: Sea cliff retreat estimates, seismic hazard assessments, subsidence assessment and mitigation, shrink-swell phenomena, landslide studies, dam siting.
David Dubbink, Ph.D. AICP
DAVID DUBBINK ASSOCIATES
864 Osos Street, Suite D
San Luis Obispo, CA 93401
(805) 541-5325
Role:
Dr. Dubbink provided an acoustic assessment for the Huasna project. He then prepared a peer review of a study prepared by Dr. David Lord for the Huasna Valley Association (There was general agreement between the studies).
Experience:
Dr. Dubbink holds a Master’s degree in urban planning from UC Berkeley as well as a Doctorate in environmental management from UCLA. He manages a consulting firm dealing with noise management issues and is a professor emeritus at Cal Poly State University. The client list for his firm includes the Federal Aviation Administration, all branches of the US military, the Federal Highway Administration and the National Park Service. He has assisted on projects for numerous public agencies and consulting firms in the US and abroad. He has been a regular contributor to the technical literature on community noise analysis. The California High Speed Rail Authority is a current client.
Dennis Shallenberger, P.E, G.E.
EARTH SYSTEMS PACIFIC
4378 Santa Fe Road
San Luis Obispo, CA 93401
(805) 544-3276
Role:
Earth Systems Pacific conducted a geologic hazards study for the project. The study was based upon a review of geologic maps and literature, a site reconnaissance, and geologic evaluation of the information obtained. The general geologic characteristics in the proposed improvement areas were described, existing and potential geologic hazards were identified, and impacts that the geologic conditions may have upon the project were discussed. The report presented information regarding the geologic units underlying the site, the geologic structure, and seismicity. The areas slated for improvements were assessed with respect to such geologic hazards as slope instability, erosion, landslides, expansive soils, naturally occurring asbestos, naturally occurring radon gas. Seismically-induced hazards were also evaluated, including the potentials for strong ground-shaking, ground rupture, liquefaction, lateral spreading, and settlement. The study was conducted as a collaboration between Dennis Shallenberger, P.E., G.E., and Richard T. Gorman, C.E.G. Both are principals of Earth Systems Pacific, with over 30 years of experience each in their respective fields.
Experience:
President of Earth Systems Pacific. A registered professional engineer in the states of California and Nevada, and a registered geotechnical engineer in California with over 30 years of experience in the geotechnical field, Mr. Shallenberger is head of the geotechnical engineering department of Earth Systems Pacific. His project experience includes the $300 million Poly Canyon Village Student Housing Project at Cal Poly, the Chumash Indian Casino and Resort in Santa Ynez, and the Bacara Resort in Santa Barbara. His education consists of a bachelor’s degree in geology from the University of Montana at Missoula and a Master of Science degree in civil engineering with a geotechnical specialty from California State University, Long Beach. Mr. Shallenberger taught senior level courses in soil mechanics and foundation design for more than 20 years at California Polytechnic University, San Luis Obispo. He is a member of the American Society of Civil Engineers and a fellow of the Institute for Advancement of Engineering. He is a former member of the Division of the State Architect Advisory Board, and is a member of the Inspection and Testing Committee of that Board. He formerly chaired and vice-chaired that committee. Currently, he serves as a member on the County of San Luis Obispo’s recently formed countywide Hydromodification Technical Advisory Committee, which was established to develop policies relative to such issues as on-site storm water retention. Mr. Shallenberger has been employed with the Earth Systems companies since 1984.
Richard T. Gorman, Chief Engineering Geologist
EARTH SYSTEMS PACIFIC
4378 Santa Fe Road
San Luis Obispo, CA 93401
Experience:
Mr. Gorman is a Registered Geologist and Certified Engineering Geologist. He is head of the engineering geology department at Earth Systems Pacific. With over 30 years of experience in the geological field and over 22 years of experience in San Luis Obispo County, he is intimately familiar with the geology of central California. He is responsible for geologic investigations project inception, field investigation, data analysis, to final compilation and issuance of the completed report, as well as post-study consultation. He has conducted numerous large-scale geologic investigations involving site specific studies of seismicity, geologic hazard, landslides, faults, and coastal bluff retreat, as well as small-scale studies for single-family residences. He has provided evaluation of landslides for Cal Poly, Chevron Pipeline Company, Unocal, AT&T, San Luis Coastal Unified School District, and the County of San Luis Obispo. The Route 68 realignment between Salinas and Monterey, the Chorro Valley Water Transmission Line, and the Pismo Beach Bluff Erosion Study are among his major projects. Mr. Gorman received his Bachelor of Science degree in Geology from California Polytechnic State University at Pomona. He is a member of the Association of Engineering Geologists and the Geologic Society of America.
Deborah Jones. M.A. Anthropology/Archaeology
FAR WESTERN ANTROPOLOGICAL RESEARCH GROUP, INC.
1725 Diablo Drive
San Luis Obispo, CA 93405
(805) 547.0489
Role:
Consulting Archaeologist and prepared Archaeological Survey Report for the State Route 166/Alamo Creek Road
Experience:
Since 1979, Far Western Anthropological Research Group, Inc. has worked in partnership with both the environmental resources community and government agencies to meet these challenges and, in so doing, is today recognized as one of the leading cultural resources consulting firms in the western United States. This reputation rests on a foundation of solid, cost-effective management and innovative project studies. This proven combination has resulted in the successful completion of some of the most complex and demanding cultural resources programs in the highly-regulated energy, mining, military facilities, and transportation sectors.
At Far Western, we assist our clients in complying with environmental and historic preservation laws such as the National Historic Preservation Act, the Native American Graves Protection and Repatriation Act, the Archaeological Resources Protection Act, the National Environmental Policy Act, and the California Environmental Quality Act.Far Western’s primary laboratory and office facility is located near the University of California in Davis with regional offices in Virginia City and Las Vegas, Nevada and in San Luis Obispo, California. Senior Archaeologist maintains the Far Western Central Coast Branch Office covering San Luis Obispo, Santa Barbara, Monterey, and Santa Cruz counties. She is responsible for a myriad of management, field, laboratory, analysis, and report preparation tasks for both survey and excavation projects. Her research and volunteer contributions to the local region include co-authoring a book chapter on the central coast in California Prehistory: Colonization, Culture and Complexity and serving as Board Member for the San Luis Obispo County Archaeological Society.
Richard Merrill, M.B.A., B.S.
GOLDER ASSOCIATES
425 Lakeside Drive
Sunnyvale, CA 94085
(408) 220-9223
Role:
Consulting Air Quality Engineer – prepared Air Quality Emissions Modeling and Analysis
Experience:
Mr. Merrill provides project management services related to air quality permitting and compliance primarily in support of the company’s solid waste and industrial business practices. Mr. Merrill has 39 years of experience providing air quality consulting services to industry and government (federal, state, and local) in sampling and analysis, air pollution control technology, control system design, thermal destruction of landfill gas and hazardous waste, odor abatement, compliance assessments, and permitting. His technical expertise has focused on the control of air pollutants.
Mr. Merrill has direct experience with pollution control projects in the industrial and utility power generation facilities, Class I, II, and III solid waste landfills, wood treating facilities, paint spray booths, leather treating plants, hazardous waste incinerators, chemical plant industry, wastewater treatment plants, composting facilities, computer component manufacturing processes, pulp and paper mills, Portland cement manufacturing, fiberglass manufacturing, and petroleum refining.
Michael F. Smith, P.E., Senior Vice President
LAMPMAN & SMITH
805 Aerovista Place
San Luis Obispo, CA 93401
(805) 544-9173
Role:
Consulting Structural Engineer, provide structural engineering services for strengthening the Huasna Creek Bridge
Experience:
Mr. Smith is currently Senior Vice President and Project Manager for Lampman & Smith. Mr. Smith has nearly 30 years of building industry experience. The last 20 years he has specialized in structural engineering. His responsibilities also include supervision of all engineering and coordination of engineering staff. His experience includes all aspects of structural design of industrial, commercial and residential structures, preparation and supervision of structural working drawings and calculations, as well as, on-site field inspection and construction supervision
David K. Wolff, Certified Professional Wetland Scientist
SAGE INSTITUTE INC.
2801 Townsgate Road, Suite 213
Westlake Village, CA 91361
(805) 497-8557
Role:
Consulting Biologist – Prepared Botanical and Wildlife Resource Analysis
Experience:
David Wolff serves as the Principal Ecologist for Sage Institute, Inc. (SII) and is a Certified Professional Wetland Scientist with over 30 years of professional experience. Mr. Wolff has special expertise in both flora and fauna, including terrestrial, freshwater aquatic, estuarine, and marine environments. He is knowledgeable in many bioregions of California including Southern California coastal, inland, and desert regions, central coastal & inland areas, Great Valley, and Sierra Nevada foothills. Along with his regional and landscape-scale resources planning experience, he is also an accomplished wetland scientist, botanist, and wildlife biologist well versed in endangered species issues. Throughout his career, David Wolff has conducted studies, prepared reports, obtained regulatory compliance permits, monitored construction projects and, managed projects and staff for a diverse group of public and private sector projects and clients.
David Wolff has conducted and managed endangered plant and wildlife species surveys, holds vernal pool fairy shrimp survey Recovery Permit TE090849-1, and is a USFWS approved California red-legged frog construction monitor. He has facilitated ESA Section 7 Formal Consultations and has managed the preparation and implementation of project-specific and large-scale regional multi-species Habitat Conservation Plans that have involved city and county land use approval processes and agency/public consensus building programs. He is experienced in CEQA/NEPA and California Coastal Act compliance.
David Wolff is a highly trained and experienced wetland scientist whose skills include the delineation of wetlands, Clean Water Act Section 404 permitting, mitigation planning, and the creation, restoration, and monitoring of wetland and riparian habitats. He has assisted clients with obtaining both Individual and Nationwide Permits from the Corps for development and infrastructure projects.
Source-
http://equitiesgroup.com
Hunter Oil and Gas Corp News Releases
http://www.unitedhunteroil.com/news_releases.htm
November 9, 2010
United Hunter Oil and Gas Corp. Commences Canadian Well Re-Completion Program
September 15, 2010
United Hunter Oil & Gas Corp. Announces New Trading Symbol “UHO”
September 13, 2010
Mr. Ernie Pratt, New Director For The Corporation.
July 19, 2010
Vesta Capital Announces Engagement Agreement with The Abraham Group LLC
July 9, 2010
United Hunter - Atlee Buffalo Working Interest
July 9, 2010
United Hunter - John Masters Appointment
June 22, 2010
Vesta Capital Corp. - AMENDED Notice of Meeting and Record Date
May 31, 2010
Vesta Capital Corp. Announces the Filing of Its Interim Financial Statements and Accompanying MD&A
May 12, 2010
Vesta Capital Corp. hires VP of Exploration and Development and Brisco Capital for IR
May 03, 2010
Vesta Capital Corp. Announces Completion of Qualifying Transaction and $9 Million Financing
April 1, 2010
Vesta Capital Corp. Enters Into Amended And Restated Definitive Agreement For Qualifying Transaction
January 13, 2010
Vesta Capital Corp. Enters Into Definitive Agreement For Qualifying Transaction
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HUNTER OIL AND GAS CORP (UHO)
Corporate Overview
United Hunter Oil is a Junior Oil and Gas company focused on the exploration and production of oil in Huasna California.
Currently, United Hunter has acquired 65% in the underdeveloped Huasna oil field in California, making Huasna a valuable resource. Concurrently, United Hunter is pursuing three larger play prospects in the USA generated by John Masters.
Below, you'll find general corporate information, share capital and links to stock quotes and charts. You can also view our Corporate Overview Presentation. For ease of access, we're also pleased to make past financials available below.
Stock Symbol: UHO
Exchange: TSX
Shares Outstanding 120,303,000
Shares in Eschrow 50,225,000
Options 8,350,000
Warrents 33,725,000
Shares Outstanding Fully Diluted 162,378,000
Working Capital $5,200,000
United Hunter Oil
Head Office
Suite 310
700 – 4th Ave SW
Calgary, Alberta
T2P 3J4
Office: 403-667-4941
http://www.unitedhunteroil.com/index.htm
Source:http://www.equities.com
