Bayou City Exploration, Inc. (fka BYCX)

[OilStockReport]

Overview


Bayou City Exploration, Inc., (the “Company”), a Nevada corporation, was organized in November 1994, as Gem Source, Incorporated (“Gem Source”), and subsequently changed the name to Blue Ridge Energy, Inc. in May 1996. In September 2005, the Company changed its name to Bayou City Exploration, Inc. The Company’s corporate headquarters are located at 632 Adams Street, Suite 700, Bowling Green, Kentucky 42101.


The Company is engaged in the oil and gas business, primarily in the gulf coast of Texas, east Texas, south Texas, and Louisiana. The wells drilled by the Company include both exploratory and development wells. During 2010, the Company refocused its business from the development of oil and gas prospects to the management of oil and gas drilling programs. The Company currently sponsors oil and gas drilling programs, for which it serves as managing general partner. It also owns working interest in various oil and gas properties both within these oil and gas drilling programs and outside the programs.


Prior to fiscal 2010, the Company generated a substantial portion of its revenues from its ownership of a royalty interest in the Sein #1 well, which was sold to related parties in late December 2009 and March 2010 for total consideration of $1,000,000. As a result of this sale, the Company’s revenues from royalties during fiscal 2010 substantially decreased from revenues generated during the same periods of fiscal 2009.


As of September 30, 2010, the Company had total assets of $887,000, total liabilities of $209,000 and a stockholders’ equity of approximately $677,000. The Company had a net loss of approximately $60,000 for the three months ended September 30, 2010 compared to net income of approximately $149,000 during the three months ended September 30, 2009. The net loss per common share was ($0.00) per share during the three months ended September 30, 2010 as compared to net income per common share of $0.01 during the same period in 2009. All per share data in this report has been adjusted to give effect to applicable stock issues and conversions.


All of the Company’s periodic report filings with the SEC pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934, as amended, are available through the SEC web site located at www.sec.gov, including our annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and any amendments to those reports. The Company will also make available to any stockholder, without charge, copies of its Annual Report on Form 10-K as filed with the SEC and a copy of its Code of Ethics. For copies of this, or any other filings, please contact: Stephen C. Larkin at Bayou City Exploration, Inc., 632 Adams Street — Suite 700, Bowling Green, KY 42101 or call [phone] begin_of_the_skype_highlighting [phone] end_of_the_skype_highlighting.