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ANY INFO ON UNGS??
US Natural Gas Corp Successful in Acquisition!!!
US Natural Gas Corp Successful in Acquisition Bid for Natural Gas Production Company
Oct 16, 2012
OTC Disclosure & News Service
St. Petersburg, FL -
US Natural Gas Corp Successful in Acquisition Bid for Natural Gas Production Company
Combined Companies Operating 162 Natural Gas Wells with 21,000 Acres under Lease
ST. PETERSBURG, Fla. October 16, 2012 -- US Natural Gas Corp (OTC Pink:UNGS), an energy exploration company with operations in the Appalachian Basin is pleased to inform shareholders that the Company has successfully won the bidding process previously announced on July 11, 2012 for the acquisition of certain assets of the Wayne Gas Company located in Wayne County, West Virginia.
Through the asset acquisition, the Company will acquire 40 producing natural gas wells, 9000 gross acres of leases on mineral rights and the coal, oil and gas rights (mineral rights) encompassing approximately 7,400 gross acres all located in Wayne County, West Virginia. The 40 natural gas wells produce on average a combined 5000 MCF per month. Management projects this level of production to increase by 50 percent after each of the wells is addressed under a water maintenance plan.
Upon closing of the acquisition, the Company will operate 162 natural gas wells, maintain leases covering 21,000 acres of mineral rights, own via deed the coal, oil and gas rights (mineral rights) encompassing approximately 7,400 gross acres and own via deed 199 acres of surface all located in Wayne County, West Virginia. Terms of the transaction were not disclosed, but closing is scheduled to occur during the fourth quarter of 2012.
The Company will have two options for delivery from this newly acquired field. Current production is transported to a local utility company with hedging at prices well above the spot price for natural gas. In addition, a separate active transmission line crosses one segment of the leasehold base. The Company has been afforded the opportunity to tap into this line for an alternative transmission and delivery method. The Company will make a determination which delivery option it will elect to pursue in the coming weeks.
The Company is currently in negotiations with a potential partner to joint venture on the acquisition. The Company would retain the operations of the gas company, while the joining partner would retain the acquired mineral rights. The Company would simultaneously lease the acquired mineral rights from its partner. The addition of a partner in this transaction would afford the Company the immediate funding needed for anticipated capital expenditures and prevent the need for any future dilutive financing transactions.
"We are pleased to be afforded the opportunity to announce this acquisition to our shareholders," said Wayne Anderson, President of US Natural Gas Corp. "The addition of the wells, leases and mineral rights adds to our portfolio of producing properties in West Virginia and will immediately add to the Company’s revenue base.”
About US Natural Gas Corp
US Natural Gas Corp is an independent energy company principally engaged in the acquisition, exploration and development of mature long-lived oil and natural gas properties. The company's current operations are concentrated in the Appalachian Basin within the states of Kentucky and West Virginia with core assets consisting of 17,000 acres of mineral rights leases and interest in approximately 150 oil and gas wells. More information on US Natural Gas Corp can be found on the Company’s website at www.usnatgascorp.com.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein, and while expected, there is no guarantee that we will attain the aforementioned anticipated developmental milestones. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company. Additional risks and uncertainties are set forth in the Company's Unaudited Annual Report for the year ended December 31, 2011, which can be found on the OTC Markets website, www.otcmarkets.com.
Contact:
US Natural Gas Corp
(727) 824-2800
info@usnatgascorp.com
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
UNGS LOOKING TO RUN HARD WITH COMPANY BUYBACK OF THE STOCK LOOMING!!!
none yet
When the stock starts to move its going to gap up hard. all i can say is try to hold on to your shares to make it even bigger. but take your profits if u have to
none sir
buyback coming up soon
and recently company just bought 162 new NAT GAS Wells
working on it.
Wednesday, 25 Jan 2012 08:30am EST
US Natural Gas Corp announced that its Board of Directors has approved an extension to the previously announced share repurchase plan and has simultaneously approved a new $400,000 repurchase plan. The Board has approved an extension through the end of the fiscal second quarter to complete the previously announced share repurchase plan. Under terms of the new plan, the Company is authorized to repurchase up to $400,000 of its common stock over the next 24 months. The aggregate of the repurchase plans will grant the Company an opportunity to repurchase up to $650,000 of its common stock.
Only 16m shares left on the ask which is 3300 and all the 2s are gone
There is a buyback soon for this stock
Can someone get a chart on UNGS plz
Wish they hit the ask
Why on the Ihub does it say 9.5m shares outstanding for sbrh ?
been on the stock since july 12
yes sir
IF WE GET TO 0.0050 ILL BE SITTING ON OVER 2 MILLION $$$$ LOL
ILL BUY 15M IF IT GETS THAT LOW
UNGS WILL BE THE NEXT BIG 20K-50K BAGGER
COMPANY HAS A BUYBACK HAPPENING LATER THIS YEAR.
http://www.reuters.com/finance/stocks/UNGS.PK/key-developments/article/2468449
http://ih.advfn.com/p.php?pid=nmona&article=54536084
JUST IS A GEM WITH 10 cents all over it
UNGS WILL BE THE NEXT BIG 20K-50K BAGGER
UNGS WILL BE THE NEXT BIG 20K-50K BAGGER
UNGS WILL BE THE NEXT BIG 20K-50K BAGGER
Were going down to the 0.0020s.
this is from Key Development - Jan 25, 2012
https://www.google.com/finance?q=PINK%3AUNGS&ei=MS2NUNiqBKDWkwOlxgE
US Natural Gas Corp Announces Extension To Announced Share Repurchase Plan And Approves New Repurchase Plan
US Natural Gas Corp announced that its Board of Directors has approved an extension to the previously announced share repurchase plan and has simultaneously approved a new $400,000 repurchase plan. The Board has approved an extension through the end of the fiscal second quarter to complete the previously announced share repurchase plan. Under terms of the new plan, the Company is authorized to repurchase up to $400,000 of its common stock over the next 24 months. The aggregate of the repurchase plans will grant the Company an opportunity to repurchase up to $650,000 of its common stock.
Why on the Ihub does it say 9.5m shares outstanding for sbrh ?
It will go to 3
I hold enough shares already
there is only about $15,000 on the 2s.
We are prime and ready for a run.
ANYONE HOLDING AT LESS 1M SHARES SHOULD SEE $20,000 ON THERE ACCOUNT SOON!!!!
RFMK HOLDING LONG AND STRONG
i AGREE.
WE DID THAT IN bbd* AND WAS ABLE TO GET TO 2 CENTS.
EVERYONE SET YOUR SELL ORDERS TO A PENNY OR MORE IF YOUR BROKER ALLOWS IT
nope
Miss the boat if u want to
If and when UNGS clears the trip 5 mark. its going to be super thin after that
just give me 5 to 10 cents and ill have a million $$$$ lol
Don't forget. There is still a share buyback on the table
People better get off the bid and start hitting the ask before the big news comes. You will be chasing
not shares. but me and my team own 400m shares of UNGS.. it should be a light float of about 800m