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Alias Born | 05/27/2011 |
Tuesday, June 07, 2011 3:02:21 PM
additional development locations to drill. Upon completion of the work proposed on the properties now inventoried the
Company should have proven, future net revenues of approximately $81 million. The Company has an aggressive
growth strategy with a goal to reach net proven reserves of 10 million barrels of oil and natural gas equivalents within
12 to 18 months of its pending funding discussed below. Bayside has additional goals, which include achieving
production of over 1,200 net barrels of crude oil (including gas equivalent) per day and monthly cash flow exceeding
$1,200,000.
Bayside has several major strengths. It has a strong, experienced and focused management team, it owns a valuable
portfolio of existing oil and gas properties and it is well positioned to substantially increase its proven reserves, cash
flow and shareholder value over the next 12 to 18 months.
For the longs who plan to stay in.
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