UNGS ~ here ya go!
ST. PETERSBURG, Fla. January 15, 2013 -- 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 posted its first EBITDA positive quarter for the period ended September 30, 2012.
Revenue from oil and gas production was at the highest level since the Company initiated sales from its Kentucky and West Virginia subsidiaries. Cash flow improvements were even more dramatic, with US Natural Gas Corp posting its first ever EBITDA positive quarter of $25,619 compared to negative $263,132 for the third quarter of 2011 and negative $162,886 for the second quarter of 2012.
"We are very pleased with our earnings progress during the third quarter, and we believe that our EBITDA profitability will continue to improve over the foreseeable future," said Wayne Anderson, President of US Natural Gas Corp. "While we are focused on increasing revenue from our current portfolio of producing properties, we intend to continue to rapidly improve profitability and drive operating margins. We expect any future acquisitions will positively impact US Natural Gas Corp’s valuation in the public market."
The Company’s quarterly report, as well as all additional financial reports and disclosures, can be found at www.otcmarkets.com. Management anticipates that the Company’s 2012 unaudited Annual Report will be filed prior to February 28, 2013.
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Thanks !!! This is huge !!!!! PATIENCE WILL
Chetra744 on 1/16/2013 9:08:33 AM
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