Replies to post #968 on Gulf Coast Oil & Gas (fka GCOG)

[mick]

i think this some i read too. little pieces of a puzzle.

maybe something will match up.

some reading do show these claims. need to sort them out.

RE:

GE UNIT AND UNION GAS INVEST $115 MILLION TO ACQUIRE EAST TEXAS AND
GULF COAST OIL AND GAS RESERVES, PLAN $29 MILLION MORE IN FIELD
DEVELOPMENT
HOUSTON AND STAMFORD, Conn., April 1, 2008 – GE Energy Financial Services, a unit
of GE (NYSE: GE), announced today it has formed a partnership with a Union Gas
Corporation subsidiary and related investors to acquire oil and gas reserves from two fields
in East Texas and the Texas Gulf Coast for $115 million. GE Energy Financial Services is
investing $104 million as the 90 percent limited partner. Union Gas is investing the balance
as the 10 percent general partner and operator. The new alliance, Union Gas Production
Partners, L.P., plans to invest an additional $29 million to develop and produce proved
reserves over the next two years.
Additional financial and operational details of the transaction were not disclosed.
“Our new partnership combines the Union Gas team’s exploration and operating experience
with the know-how and financial strength of GE,” said Randy Lowry, President of Union Gas
Corporation. “Allying with a strong institutional partner allows us to accelerate the
development of our reserves to grow our production and cash flow at reasonable costs.”
John Schaeffer, Managing Director and head of the oil and gas unit at GE Energy Financial
Services, said: “This new investment demonstrates the unique value proposition of our
monetization and development partnership, an excellent growth opportunity for Union and
GE Energy Financial Services. Combining Union’s expertise in the complete oil and gas
development cycle and GE Energy Financial Services’ industry knowledge and commitment
should create strong operating results enhanced by attractive related drilling projects.”
Since 1991, the Oil and Gas unit’s 16 professionals have provided $3 billion in partnership
equity for its independent private and public oil and gas partner-operators in the United
States. Based in Stamford, Connecticut -- with offices in Houston, Texas and Denver,
Colorado -- the Oil and Gas unit is active in all major onshore basins and shallow water Gulf
of Mexico. Its 22 partnership investments produce an estimated 88 million cubic feet of
natural gas and 9,400 barrels of oil daily.
About Union Gas Corporation
Union Gas Corporation, based in Houston, Texas, is an independent oil & gas company that
was founded in 1995. It has successfully identified and developed seven fields on the
Texas Gulf Coast. Through its partnerships, it has managed the complete cycle of oil and
gas properties, from the generation of 3-D seismic evaluation, identification of prospects,
drilling, operation of the wells, reinvestment and divestiture.


http://www.geenergyfinancialservices.com/press_room/press_releases/UnionAcquisition4108FINAL.pdf

[mick]

there is more to GCOG than some see about this company. why would they continue to be listed on the otcb? they could save money on these filings [go pinksheet] to be listed.