Sunday, May 12, 2002 6:49:21 PM
GETC, is it a sleeper about to awaken?
Will GETC be showing its potential in the 3rd quarter?
Contact:
W. Richard Lueck, (561) 447-7370
rlueck@m...
http://www.geo-tec.net/
Geotec Thermal Generators, Inc. (OTCBB: GETC) is an emerging oil and gas well treatment company. Geotec is exclusive for the PGDBK technology for North, South and Central America that have
approximately 5.4 Million oil and gas wells. The technology has been transferred from the Russian Federation, and only one field training need be completed. This final training will be coordinated with J-
TEX, after which they will then be treating oil and gas wells and Geotec will have revenue and earnings.
The technology is new to North, South and Central America, so the past couple years Geotec has been establishing the science of the PGDBK technology. Geotec's technical paper has been accepted by and Geotec has made presentations at the Petroleum Technology Transfer Counsel (PTTC) and Society of Petroleum Engineers (SFE). The PGDBK technology and Geotec have appeared in articles in several respected publications in the industry, (1) Hart's E & P; (2)Energy Prospectus; (3) The American Oil & Gas Reporter.
Is GETC a sleeper that is about ready to awaken? Read through "Item 1 - Description of Business" in the 10KSB filed April 15,2002. Following is an excerpt and it may be suggesting that GETC will be operational in the second or third quarter of 2002.
***************** This is taken from the 10KSB filed on April 15,2002 *******************************
The Company expects to complete training in the second quarter of 2002, concurrent with the training of its joint venture partner, J-TEX Corporation, a Nevada Corporation.
The Company anticipates expanding its sales and technical staff upon receipt of additional financing, and plans to continue contracting through its joint venture with J-TEX Corporation in North South and Central America. Of the 2.9 million wells in the US and Canada, 2.5 million wells are inactive or are very low producers. The Company estimates that at least two-thirds of these wells are owned by small or intermediate-sized companies, comprising 85% of the oil and gas production in the US and Canada. The joint venture agreement with J-TEX Corporation calls for exclusive representation of new well contracts, while the Company can treat wells where J-TEX is not operational. The agreement also states that J-TEX plans to provide and treat 80 wells per month on an ongoing basis, after training and
the start-up phase, and annually 1500 wells, or more, in subsequent years. While the Agreement allows for the continuation of production override service contracts, based upon hydrocarbon increases, a fee for service option is provided for well operators, which also takes into consideration the government ownership of wells in South and Central America.
The Company has also entered into a joint venture Agreement with
Representaciones Barki Cia, of Quito, Ecuador. The joint venture
calls for minimum purchases of gas generators equal to $550,000 in the first year and $1,100,000 in the second year, with profit sharing above the minimum purchase costs. As of this annual report, scheduling of training for the Barki Cia's staff was scheduled for February 2002, however has been delayed due to government employment strikes. Those strikes have just be resolved, and the Company is expecting training and the technology introduction to PetroEcuador within the next 30 days.
With the training believed to be completed with J-TEX and Barki Cia's staff in the second quarter of 2002, revenues are expected throughout the remainder of fiscal of 2002.
The Russian Federation has had and will continue to have meeting on behalf of the Company's technology with other governments, within the Company's geographical territory of North, South and Central America. This will be a continuing source of relationships for South and Central American wells for the Company.
Multiple zones in wells and wells that have been shut-in are further sources of revenue, with new contracts that will be the source of revenue for the Company for wells with zones that have not been "brought in".
************** End of data from 10KSB filed on April 15,2002 *********************************************
What does the above mean in terms of earnings? Some assumptions might be possible.
1) Year one of the Ecuador joint venture calls for $550,000 as a
minimum for treating 20 wells. This is $27,500 per well.
2) Year two of the Ecuador joint venture calls for $1,100,000 as a minimum for treating 40 wells. Also, $27,500 per well.
3) After the above minimums, their is a 50:50 profit split which
includes these numbers. For example, if the profit for a well is
$100,000, Geotec would get the $27,500 up front, and another $22,500, totaling $50,000. If the profit is less than $55,000, Geotec still gets their minimum.
4) J-TEX plans to provide and treat 80 wells per month, after
training and start-up phase. $27,500 is minimum per well for the
Ecuador joint agreement. But to be more conservative, we might use $20,000 per well to Geotec for wells treated by J-TEX. That would be $1,600,000 per month. I do not know if $20,000 is a good number to use.
5) J-TEX, then annually 1,500 wells, or more, in subsequent years. If J-TEX treats 1,500 wells and Geotec makes $20,000 on each well, that would be $30 million.
As of March 28, 2002, there was 23,001,108 outstanding shares.
Do your own DD and then invest or not invest in GETC based on your DD.
I have a website which is not connected with or sponsored by the
company which has additional information. This is a collection of information for my use. If you wish to use it also, it is only one source of information which you should verify.
http://www.getcgreatday.homestead.com/index_getc.html
Frank
Will GETC be showing its potential in the 3rd quarter?
Contact:
W. Richard Lueck, (561) 447-7370
rlueck@m...
http://www.geo-tec.net/
Geotec Thermal Generators, Inc. (OTCBB: GETC) is an emerging oil and gas well treatment company. Geotec is exclusive for the PGDBK technology for North, South and Central America that have
approximately 5.4 Million oil and gas wells. The technology has been transferred from the Russian Federation, and only one field training need be completed. This final training will be coordinated with J-
TEX, after which they will then be treating oil and gas wells and Geotec will have revenue and earnings.
The technology is new to North, South and Central America, so the past couple years Geotec has been establishing the science of the PGDBK technology. Geotec's technical paper has been accepted by and Geotec has made presentations at the Petroleum Technology Transfer Counsel (PTTC) and Society of Petroleum Engineers (SFE). The PGDBK technology and Geotec have appeared in articles in several respected publications in the industry, (1) Hart's E & P; (2)Energy Prospectus; (3) The American Oil & Gas Reporter.
Is GETC a sleeper that is about ready to awaken? Read through "Item 1 - Description of Business" in the 10KSB filed April 15,2002. Following is an excerpt and it may be suggesting that GETC will be operational in the second or third quarter of 2002.
***************** This is taken from the 10KSB filed on April 15,2002 *******************************
The Company expects to complete training in the second quarter of 2002, concurrent with the training of its joint venture partner, J-TEX Corporation, a Nevada Corporation.
The Company anticipates expanding its sales and technical staff upon receipt of additional financing, and plans to continue contracting through its joint venture with J-TEX Corporation in North South and Central America. Of the 2.9 million wells in the US and Canada, 2.5 million wells are inactive or are very low producers. The Company estimates that at least two-thirds of these wells are owned by small or intermediate-sized companies, comprising 85% of the oil and gas production in the US and Canada. The joint venture agreement with J-TEX Corporation calls for exclusive representation of new well contracts, while the Company can treat wells where J-TEX is not operational. The agreement also states that J-TEX plans to provide and treat 80 wells per month on an ongoing basis, after training and
the start-up phase, and annually 1500 wells, or more, in subsequent years. While the Agreement allows for the continuation of production override service contracts, based upon hydrocarbon increases, a fee for service option is provided for well operators, which also takes into consideration the government ownership of wells in South and Central America.
The Company has also entered into a joint venture Agreement with
Representaciones Barki Cia, of Quito, Ecuador. The joint venture
calls for minimum purchases of gas generators equal to $550,000 in the first year and $1,100,000 in the second year, with profit sharing above the minimum purchase costs. As of this annual report, scheduling of training for the Barki Cia's staff was scheduled for February 2002, however has been delayed due to government employment strikes. Those strikes have just be resolved, and the Company is expecting training and the technology introduction to PetroEcuador within the next 30 days.
With the training believed to be completed with J-TEX and Barki Cia's staff in the second quarter of 2002, revenues are expected throughout the remainder of fiscal of 2002.
The Russian Federation has had and will continue to have meeting on behalf of the Company's technology with other governments, within the Company's geographical territory of North, South and Central America. This will be a continuing source of relationships for South and Central American wells for the Company.
Multiple zones in wells and wells that have been shut-in are further sources of revenue, with new contracts that will be the source of revenue for the Company for wells with zones that have not been "brought in".
************** End of data from 10KSB filed on April 15,2002 *********************************************
What does the above mean in terms of earnings? Some assumptions might be possible.
1) Year one of the Ecuador joint venture calls for $550,000 as a
minimum for treating 20 wells. This is $27,500 per well.
2) Year two of the Ecuador joint venture calls for $1,100,000 as a minimum for treating 40 wells. Also, $27,500 per well.
3) After the above minimums, their is a 50:50 profit split which
includes these numbers. For example, if the profit for a well is
$100,000, Geotec would get the $27,500 up front, and another $22,500, totaling $50,000. If the profit is less than $55,000, Geotec still gets their minimum.
4) J-TEX plans to provide and treat 80 wells per month, after
training and start-up phase. $27,500 is minimum per well for the
Ecuador joint agreement. But to be more conservative, we might use $20,000 per well to Geotec for wells treated by J-TEX. That would be $1,600,000 per month. I do not know if $20,000 is a good number to use.
5) J-TEX, then annually 1,500 wells, or more, in subsequent years. If J-TEX treats 1,500 wells and Geotec makes $20,000 on each well, that would be $30 million.
As of March 28, 2002, there was 23,001,108 outstanding shares.
Do your own DD and then invest or not invest in GETC based on your DD.
I have a website which is not connected with or sponsored by the
company which has additional information. This is a collection of information for my use. If you wish to use it also, it is only one source of information which you should verify.
http://www.getcgreatday.homestead.com/index_getc.html
Frank
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