Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Thanks Ed.
Thanks to someone for buying the 1,000 shares. That looks better.
Nite is back at .03
DKGR news out
Yahoo! My Yahoo! Mail Make Yahoo! your home page
Sign In
New User?Sign Up
Finance Home - Help
HomeInvestingNews & CommentaryRetirement & PlanningBanking & CreditLoansTaxesSpecial EditionsColumnistsPersonal FinanceInvesting IdeasMarketsCompany FinancesProvidersGet QuotesSymbol LookupFinance Search
Press Release Source: Drake Gold Resources Inc.
Drake Gold Resources Inc. Announces 100% Acquisition of Pegasus Oil Well Services as the First Part of the Expansion Into Oil and Gas Development
Tuesday June 6, 8:30 am ET
CENTURY CITY, CA--(MARKET WIRE)--Jun 6, 2006 -- Drake Gold Resources Inc. (Other OTC:DKGR.PK - News) is pleased to announce the acquisition of Pegasus Well Services, scheduled to be completed within two weeks. Pegasus is a San Antonio-based company that services all of South Texas with a growing list of oil services. (http://www.pegasusoilwellservices.com)
ADVERTISEMENT
Estimations of revenues for 2006 will be released after evaluation is completed of audited financials and the operations. The acquisition will make Drake a profitable company. The acquisition is being done for all stock, which is restricted for 2 years.
The company plans to expand operations to include complete well services for wells above 10,000 ft. in depth including acidization treatments, cementing, and drilling operations. Pegasus is a growing service provider specializing in shallow oil, gas, and water wells in the South Texas area.
The company began operations in November of 2001 with the first several months being devoted to training personnel, acquiring, and modifying needed equipment. The company became more active over the first 3 years, solidifying its foundation in 2004. Operating with only one cementing unit, its sales for 2005 exceeded $600,000 over a shortened year due to a mechanical rebuild of its main unit.
With the addition of Pegasus, Drake plans on adding additional cementing units, hydraulic fracturing units, drilling rigs, and other needed services, with the intent of becoming a one-stop shop for the oil business. With the growing demand for oil and gas operations in the Texas arena, revenues are expected to continue to rise.
For Drake, the addition of a full-service oil well company will make the advancements into oil and gas development hastened and is lowering capital needed to begin operations. The market today makes it very difficult to schedule equipment needed to perform these services so having them in-house gives Drake the ability to move consistently from project to project without any delays while minimizing risk.
Furthermore, Drake has already made a series of advancements into acquiring oil and gas leases, projects and potential joint ventures to build its portfolio of petroleum operations. The current acquisition and connections already within the industry have located prime targets in South Texas, the Barnett Shale in Texas, California and Louisiana. With the new service division it makes it very easy to obtain projects for low costs and entice current operators to entertain joint ventures.
This is in tune with its recently announced corporate strategy, which is partially outlined here:
"DKGR intends to be a diversified company by operating in the natural resource, petroleum, and alternative energy markets. As a result of ever-increasing scarcity, the market for natural resources is clamoring for diversification and innovative exploration tactics. Potential opportunities for diversification include diamond, gold, silver, copper and other minerals in areas such as Arizona, Oregon, Alaska, British Columbia, the Yukon Territories, and other affiliated sections throughout gold districts in Northern Mexico. DKGR also plans to capitalize on current and long-term trends in energy prices to operate in the petroleum and alternative energy markets."
The Drake team believes acquiring Pegasus Well Services is a step in the right direction -- it minimizes the risk of oil and gas exploration while building solid well-margined cash flows.
Current and future shareholders are encouraged to sign up for email updates. The new Company website provides current news releases, reports, interviews, industry news and market related information. To sign up, click on the link located under the main menu at www.drakegold.com.
Shareholder inquiries and suggestions are welcome and should be directed to the Drake Gold, Investor Relations Team at (toll free) 1-888-601-9983, internationally at 1-503-618-0370, or via email at info@novakcapital.com.
About Drake Gold Resources, Inc.
Drake Gold Resources, Inc. (http://www.drakegold.com) is an early-stage mining and energy company that focuses on the exploration and production of precious metals, diamonds and energy, such as petroleum and coal. Several projects have been identified through Thunder Gulch Resources, Ltd. and its resources in North America. Drake is in the process of completing the acquisition of Pegasus Oil Well Services. (http://www.pegasusoilwellservices.com) Announcements will be made as agreements are completed.
This press release contains forward-looking statements involving risks and uncertainties including statements regarding the Company's future performance. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual future results may differ materially from those anticipated, depending on a variety of factors which include, but are not limited to, our ability to leverage our technology, manage our growth, protect our intellectual property rights, attract new customers and general economic conditions affecting consumer spending, including uncertainties relating to global political conditions, such as terrorism. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.
Contact:
Investor Relations Hotline
Domestic: 1-888-601-9983
International: 1-503-618-0370
Email: info@novakcapital.com
It's about the lottery ticket. Pennies to dollars alot easier than $1 to $100. At least I think that is the perception. GLTA
I filed a complaint with the SEC about the MMs and you know what I heard? Nothing. It is comforting to know how our tax dollars are working for us. GLTA
How am I supposed to sleep now?
OT- Heat in 6
Best of luck to all here. I had 6 million shares but got out last week when it stalled. I think there is still upside here but the short term may be ugly. I am looking to get back in but want to let the dust settle. I wish you all the best.
Profitchaser-
I best go ahead and put my .015 order in for more. Got some at that price last round. :)= Cheap Bastard
.016==Smart cheap bastard, LOL
You evidently aren't following the right guys, errr, wrong guys. Even Tiger gets deep in the woods. These guys have great short games but are even better at being escape artists. They save par where we double, triple, and quadruple. I love this game.
And speaking of red, I am glad I got out of NDOL and IPRE when I did. I missed getting out toward the top of the runs on both but I got out green and before the crap hit the fan. Those 2 have me ready to hit the sell button alot quicker these days. GLTA
A test of the testes, every man has got to do it at some time. I picked up some DKGR today at .015 Zero says there is a PR tomorrow and that the IR has a PPS of .05-.10 in their sights for the next 3 weeks. I hope we get a good PR soon on EQBM.
And Wang, you are not alone with the red day. I wish I could console you by telling you that you are in good company but I am sure that that is company we cannot afford to keep, lol.
GLTA
Low float and buying pressure is what we are counting and waiting on. It's coming.
PR was being worked on Friday and supposed to hear good news today. It sure would be nice to hear something positive in this market. All this red has mean seeing red. I don't need much green, in fact just a little for starters would be nice. Hope we hear good news soon. GLTA
Eggs in a basket, I know the feeling. I just added 50,000 @ .02. Hopefully a good move but in the pinks, one never knows for sure. Look at IPRE today, announced a R/S and it dropped about half. May we all make alot of green off of this stock. GLTA
Monday could be the start of good things to come. The divvy shares coming to my account, a possible pr, and the DLS deal getting that much closer. I'm looking forward to this thing hitting .20 and then seeing just how quickly the rest falls in place. .50+ by the end of year would be great and anything above that would be awesome.
I would love to hold this for a couple of years and see $5+. Patience will be rewarded. Thanks to all here for the DD and Best Wishes to all. Have a great weekend.
If it gets to 5-7.50 I'd be ready for Scotland and some golf.
My Scottrade is working fine.
Mine's working fine as we speak.
At the rate AURC is going EQBM will be past it real soon.
That's the kind of day we were used to, lol. Won't be long til the buying volume comes in. GLTA
EQBM 2 PRs in the next week
http://www.investorshub.com/boards/read_msg.asp?message_id=11385380
EQBM 2 PRs in the next week http://www.investorshub.com/boards/read_msg.asp?message_id=11385380
EQBM 2 PRs coming in the next week
http://www.investorshub.com/boards/read_msg.asp?message_id=11385380
Thanks and great job.
Brikk, you don't need to give us the 30 min version but what did he have to say about the China deal etc? Some highlites of the conversation would be appreciated. TIA & GLTY
Should be on alot of radars by the 15th with the DLS deal.
I read that thanks. All I meant was the added buying pressure is all we need now to send this flying. GLTY
EQBM One PR and this thing will explode
I have another penny to go before I am green. Paid way too much for the first shares I bought, but it was only 28,500 so not deadly. Hopefully there will still be some cheaper shares to get but if not, I will not complain. Green is good, especially in this market. Go RXPC!!
Ubss has upped the bid to .04 Ask @ .055 Nite
Noob,
My wife thinks I am nuts for taking time to do this. But, I am sure that when this stock gets to dollarville, she will say I am a genius and she knew it the whole time. In all honesty, this is a stock that I plan on holding for awhile. It all depends on the PPS.
COL is higher here but the real estate appreciates faster than anywhere else I have ever been. Our house has went up about 150% in 3 years. I plan on selling out before Global Warming has us under water, lol. Looking to buy the new ocean front properties at 20-25' above sea level.
Hey, I'm not a big player either, but like marriage(which I have been 20 years to the same woman,LOL)I am all in. With DLS coming around the 15th, I see this as the bottom with only one way to go. GLTY
BKMP Look out below. I got out and only wish it had been sooner. GLTA
If the market as a whole hadn't tanked so much in the last 2 weeks I would probably have been at the 500,000 mark, but all that red kind of shot that. Here is to RXPC going GREEN!!!
All I know is I am up to 195,926 shares in my account. If these prices stay like they are I hope to be at 300,000 by the end of next week. These are all a gamble but I think this is a relatively safe one. GLTA
Guys,
Are we helping our cause by complaining about the price? Anyone looking to this board for DD would run after reading these posts. The DLS acquisition is right around the corner. We are only averaging 300,000+ and it was in the 200 range for a long time. I'm not the smartest guy but that only constitutes about 100,000 being sold because when they sell the shares back they are almost always a mirrored trade. That makes up for the other 200k.
I may be a fool but I bought about 58,000 more today at .032. I am glad to get them.
Let's have some faith for a couple more weeks. GLTA