PBLS..oil/gas/energy stk>>>>
couple highlights for next BIG PLAYER in the field..(PBLS)
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Phoenix Associates Land Syndicate Enters Into Binding Letter of Intent to Acquire ProGas, Inc. Completed Acquisition will Add $190 Million in Revenues for FY 2005..
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Nov. 10, 2005--Phoenix Associates Land Syndicate (Pink Sheets:PBLS - News) announced today that the company's Mid-South/Rome Oil & Gas Division has secured a new oil lease in Wyoming consisting of over 2080 acres. Recent geologic surveys suggest that the estimated reserves of this lease will increase the company's existing oil reserves in the state by over 162%, from 5 million barrels to approximately 13.1 million barrels.
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Rome Oil & Gas currently has 18 producing wells in Kentucky averaging 26 barrels per day each, or approximately 14,000 barrels per month in total. With the company's 30-day sales average of $54.50 per barrel.
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Wyoming site...The company has plans to drill a test well on this property prior to year-end and, assuming satisfactory test results, expects to drill a minimum of nine production wells on Geological structure with a possible maximum of 22 wells.
(could be another 22 wells producing 25-50 barrels ea..)
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BEST OF ALL....BUY BACK .....
Phoenix Associates Land Syndicate Announces Systematic Share Repurchase Program
Wednesday November 9, 10:01 am ET
COVINGTON, La.--(BUSINESS WIRE)--Nov. 9, 2005--Phoenix Associates Land Syndicate (Pink Sheets:PBLS - News) announced today that the company is initiating a systematic share repurchase program to retire up to 100 million shares of the company's common stock to treasury. Effective immediately the company will begin repurchasing shares through both open-market and selected private transactions in order to reduce the total number of outstanding free-trading and restricted company securities
AI
