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hinch, i may not be too much help for a few days, i broke my back and will be pretty busy with doctors and i'll be pretty messed up on pain pills, sorry, should be ready to go again in a week or so.
DDareDDevil
DDare To Tell The Truth!
I made some updates to the Ibox, see if you like it,,,
DDareDDevil
DDare To Tell The Truth!
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Baseline Oil & Gas Corp. (OTCBB: BOGA) is an independent oil and gas exploration and development company with three core properties which provide a very balanced reserve mix (50% oil, 50% natural gas): a 95%+ operated working interest in the Blessing Field, located in Matagorda County, Texas, a 100% operated working interest in a 4,600 acre waterflood located in the Stephens County, Texas Eliasville Field, and an 18%-19% non-operated net interest in leases covering approximately 171,000 gross acres in the New Albany Shale play located in the Illinois Basin of southern Indiana.
The Blessing Field, acquired by Baseline in October 2007, is located in Matagorda County, Texas. The Field area has produced extensively from normally pressured Upper Frio sands since the 1930s. Since 2004, the prior operator drilled and completed 12 wells as producers, representing a 100% success rate. Production established in 5 different fault blocks, with proved and probable reserves in 21 horizons, will serve to ameliorate drilling risk, and add production and reserves at a relatively low incremental cost. Such development will consist of low risk recompletions targeting uphole proved non producing (PDNP) reserves. Management has identified 88 PDNP drilling and workover opportunities, and expects to drill 4 to 6 such locations per year, providing a multi-year drilling inventory.
The Eliasville Field, acquired by Baseline in April 2007, is located in north Texas, and consists of a 100% working interest (81% net revenue interest) on a contiguous 4,600 acre waterflood. The entirety of current production and proved reserves are contained within the existing producing Caddo Lime formation, located at a depth of approximately 3,300 feet. Of the total 4,600 acres, the central and eastern 2,800 acres are under existing waterflood while the western 1,800 acres have yet to be extensively developed. While extensive low risk development drilling is proceeding, Baseline will be evaluating and finalizing further development plans for the significant expansion of the waterflood to the western leases, which are presently producing oil from the Caddo Lime, but not presently under waterflood. Management believes that this western expansion could add up to 2.0 MMbbls of incremental proved reserves.
Management believes that there is natural gas production potential from bypassed shallower zones in both the Marble Falls and Duffer formations, which produce natural gas at depths of 3,200 to 3,400 feet, south and east of our property and into the Palo Pinto County. The Barnett Shale is also present on our property at approximately 4,900 feet, but has not been produced to date, although it has been produced in Palo Pinto County. In addition, the Caddo Lime is an excellent candidate for an alkaline surfactant polymer (ASP) flood. This proven tertiary recovery technique will be evaluated for application, which management believes has the potential for incremental recovery of up to 10% of original oil in place (OOIP), or some 9.0 MMbbls, which is not currently booked.
The New Albany Shale formation, which has been producing natural gas since 1858, consists of organic-rich brownish-black shale and greenish-gray shale that is exposed along the Ohio River at New Albany, Indiana. The shale is present in the subsurface throughout much of the approximately 60,000 square miles comprising the Illinois Basin, which stretches from southwestern Indiana into western Kentucky. In some respects, the New Albany Shale is reminiscent of the early days of the Barnett Shale play located in the northern Texas Fort Worth Basin. Baseline Oil & Gas Corp. believes the New Albany Shale resource play could contain significant natural gas reserves, which can be recovered more easily now that the historic problem of water disposal in the early stages of drilling has been resolved by new technologies. There is presently burgeoning interest in the New Albany Shale play, as evidenced by the recent entry into the basin by such companies as Chesapeake Energy Corp., Pogo Producing, Forest Oil Corp., Hunt Petroleum, Samson Energy, CDX Gas, Quicksilver Resources, Carrizo Oil & Gas, and Meridian Resource Corp.
Management of Baseline has a clear objective to grow Baseline organically as well as through accretive acquisitions and/or joint drilling ventures. Baseline Oil & Gas is located in Houston, Texas.
Baseline Oil & Gas Corp.
411 N. Sam Houston Parkway East
Suite 300
Houston, TX 77060
Phone: 281-591-6100
Fax: 281-591-6101
Web Site: http://www.baselineoil.com
Shares Outstanding: 34.46M
Float: 19.90M
52-Week High (15-Aug-07)3: 0.75
52-Week Low (13-May-08)3: 0.04
50-Day Moving Average3: 0.40
200-Day Moving Average3: 0.38
Revenue (ttm): 22.87M
Revenue Per Share (ttm): 0.686
Qtrly Revenue Growth (yoy): N/A
Gross Profit (ttm): 6.46M
EBITDA (ttm): N/A
Net Income Avl to Common (ttm): -15.78M
Diluted EPS (ttm): -0.47
Total Cash (mrq): 21.21M
Total Cash Per Share (mrq): 0.615
Total Debt (mrq): 160.96M
Total Debt/Equity (mrq): N/A
Current Ratio (mrq): 1.171
Book Value Per Share (mrq): -0.457
Cash Flow Statement
Operating Cash Flow (ttm): 12.27M
Levered Free Cash Flow (ttm): -114.63M
