Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
EENIQ Exterra Energy Inc. New Common Stock 11/28/2012 Bankruptcy plan effective. Shares Cancelled. Deletion time 15:13:57
http://www.otcbb.com/asp/dailylist_detail.asp?d=11/28/2012&mkt_ctg=ALL
Not at all! EENIQ becomes a valuable clean reverse-merger shell after the liquidation and ready for a buy-out by a private company...
You must not have pacer. "Also, all shares of the Company's issued and outstanding capital stock will be extinguished and cancelled, and the holders of any such shares will not receive or retain any property on account of such shares." Like I said... Toast.
The bid is up 7.7% so far! Bottomed out at the new support 0.0013...
Easy 15.23-bagger to bounce back to the last week's high 0.0198! GEM
Disagree! 20K-0.0014 x 10K-0.01 now. Easy back to the recent 0.0198!
0.006 x 0.0175 now. Total over 24K shares bought at 0.0198 so far...
0.006 x 0.012 now. Extremely oversold and undervalued now! Super low
MV ($100K) now and super thin asks from the Level2...
0.01 x 0.0198 now. 20,000 shares slapped at 0.0198 so far! The next
ask is 2.00!
0.007 x 0.0198. Super tiny float! The next ask is $0.198!
0.005 x 0.0198 now. Only 10M shares tiny OS and easy to hit the dime
0.004 x 0.0198 now. It is heading onto the dime land very soon...
0.003 x 0.0198 now. 0.0198 just hit!
0.003 x 0.006 now. The next ask is 5K shares at 0.06!
EENIQ is trading at huge discount price levels now compared to 0.65~
0.9! Only 5K shares left at 0.006, then 0.1, then 2.0!
That is great news! Anyway only 5,000 shares left at 0.006 now! $0.1
is the next ask...
0.003 x 0.006 now. Up 200% so far! Only 10M shares OS...
0.002 x 0.006 now. The bid is up 82% so far! Easy to hit the penny!
It seems 0.0006 has already formed a very solid bottom price! Multi-
penny should be very easy to hit based on just 10,417,132 shares OS!
Another new 52-week low 0.0011 was created a couple of weeks ago! It
seems bottomed out or very close to the possible long term bottom...
New 52-week low 0.002 was created! It is heading onto another new low 0.001...
What a fraudulent piece of shi.t, promoted by fraudulent PR-agency Redstone...
Waiting nearly 2 month for the merger-news, which were really overdue since 7 weeks...and then....
trading-range between .65 -.90
really great, don´t you think so?
NEWS OUT !!! NEWS OUT !!! NEWS OUT !!! NEWS OUT !!! NEWS OUT !!!
April 20, 2011 01:50 AM Eastern Daylight Time
Exterra Announces the Acquisition of a Private Oil & Gas Company
Company Engages Artemis Capital Group, LLC as Its Investment Advisor
AMARILLO, Texas--(BUSINESS WIRE)--Exterra Energy, Inc., (OTCBB: EENI) (“Exterra”) announced today they are “gaining a partner” with the acquisition of Resonance Energy LLC (“Resonance”), a closely held private oil and gas limited liability company headquartered in Florida. Resonance has signed a PSA with SEK Energy LLC, a Kansas LLC, which brings an estimated $1,200,000.00 in current annualized revenues with more than 20,000 developed and developable mineral lease acres with a current proven PV10 value in excess of $25,000,000.00.
“The acquisition of Resonance brings professionals with many years of field experience in the oil and gas industry to bear and solidify our business plan which has always been to grow with producing assets.”
“Management is excited with this opportunity that we have been working on for the past two (2) years,” said Exterra Chairman Robert Royal. “The acquisition of Resonance brings professionals with many years of field experience in the oil and gas industry to bear and solidify our business plan which has always been to grow with producing assets.” As well as, Wall Street Professionals to advise and guide Exterra’s Management. The consideration is a deferred equal restricted common stock position receivable in 24 months, with no immediate dilution and the right to spin-off prior to 24 months.
Exterra takes particular pride in the addition of Messrs Andy Fish and David Rosenberg, Esq., to their corporate family as newly elected members of their Board of Directors. Andy is the President and CEO of Resonance with extensive experience in oil and gas projects in eight (8) states and three (3) countries over the past decade. David has over a decade of practical experience as an attorney concentrating his practice in the area of corporate and commercial law focusing on general business matters, energy related issues, mergers and acquisitions, corporate finance and real property law, and is a partner in Artemis Capital Group, LLC, a metropolitan New York investment consultant. Andy and David will join Exterra CEO Mr. Todd R. Royal and their Chairman as Directors. Resonance will exist as a subsidiary of Exterra with both managements remaining in tact.
Today’s announcement follows Director’s approval of the transaction at Exterra’s special meetings of Directors held April 4, 2011, April 5, 2011, and Stockholder’s Consent to ratify the transaction and elections of the new Directors and receipt of all required regulatory approvals. Exterra has engaged Artemis Capital Group LLC, a metropolitan New York Advisory Firm to advise and guide Exterra’s Management through the acquisition of Resonance Energy LLC, and to assist the Company with immediate interim financing, additional financing to capitalize Exterra and its Subsidiary to conduct their E & P Operations, while advising and assisting Exterra to list on a Major Stock Exchange. The combined Company will continue to operate under Exterra and trade on the Over-The-Counter Bulletin Board (“OTCBB”) under the symbol “EENI”, prior to listing on a Major Stock Exchange. Exterra will remain headquartered in Amarillo, Texas.
Your Management would like to take this opportunity to thank all you loyal Stockholders who have supported and contributed to the success and future success of our Company.
About Exterra Energy, Inc.
Exterra Energy, Inc. (OTCBB: EENI) is an emerging Oil and Gas exploration production company based in Amarillo, Texas, with a Field Office in Parker County, Texas. Exterra is committed to a strong acquisition and development strategy purchasing producing and developing quality Oil & Gas properties. Exterra is primarily active in the development, acquisition and operations of Oil & Gas properties. Please visit our web site at www.exterraenergyinc.com.
Safe Harbor
Statements about the company’s expectations, including revenue and earnings and all other statements in this press release, other than historical facts, are “forward-looking” statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time. The company’s actual results could differ materially from expected results. In reflecting subsequent events or circumstances, the company undertakes no obligation to update forward-looking statements.
Contacts
Redstone Communications, LLC
Investor Contact, 317-337-1800
Tarwc@aol.com
Print
Email
YEAHHHHHHHHHHHHHHH: EENI EENI EENI EENI EENI EENI EENI EENI EENI
E R N I E GOOOOOOOOOOO!!!!
Exterra Energy, Inc. Updates Merger Activity
AMARILLO, Texas--(BUSINESS WIRE)--Exterra Energy, Inc., (OTCBB: EENI) announced today an update on its intent to merge with a qualified merger candidate.
Robert Royal, Chairman, stated, “We have reviewed several potential merger candidates since we last announced our intentions to merge Exterra Energy, Inc., with a company with greater assets and revenues. We have narrowed our search to a few merger candidates and are completing joint due diligence. We are confident that when a merger candidate is chosen it is believed the combined companies would generate revenues and contain assets to take the company to the next level and maximize shareholder value.”
Commenting further, Mr. Royal said, “Our intent is to bring into the company additional oil and gas assets and professionals to the management team which will help fuel our long term growth.”
So now here is hot - I can already smell the merger news - the next days are very exciting and I also believe that the price and sales will rise today.
Head Office: Exterra Energy Inc.Email: info@exterraenergyinc.com
Address: 701 South Taylor Suite 440
Amarillo, Texas
USA 79101
Transfer Agent: Holladay Stock Transfer Address: 2939 North 67th Place, Ste."C"
Scottsdale, Arizona
USA 85251
Todd R. Royal, President, CEO
Todd R. Royal, age 37, is and has been since its founding in 1995 the President and Director of Royalco. Mr. Royal is a Texas Tech University graduate with significant experience in marketing and public relations. Mr. Royal is not currently serving on the board of directors of any publicly traded companies, Mr. Royal is Robert Royal's son.
Robert Royal, Chairman
Robert Royal, age 72, is and has been since its founding in 1995 the CEO and Chairman of Royalco Oil and Gas Corporation ("Royalco"), a private oil and gas company headquartered in Weatherford, Texas. Mr. Royal has over 30 years experience in the oil & gas industry, real estate and the financial markets. Mr. Royal was the CEO and President of IGE, an oil and gas company which did a reverse merger into Life Partners Holdings (LPHI), a publically reporting company. Mr. Royal is not currently serving on the board of directors of any publicly traded companies. Mr. Royal is Todd Royal's father.
Exterra Energy, Inc. ersucht Investmentbanker um Unterstützung bei aktuellen Fusionskandidaten
AMARILLO, Texas, 24.Februar 2011 -- Exterra Energy, Inc. (OTCBB: EENI) gab heute bekannt, dass das Unternehmen gegenwärtig Gespräche darüber führe, ein Investmentbanking-Unternehmen zu beauftragen, um Unterstützung bei den Verhandlungen mit seinen aktuellen Fusionskandidaten zu erhalten.
Robert Royal, der Vorsitzende von Exterra, erklärte: „Ein geeigneter Fusionskandidat wäre ein erfolgreiches Öl- und Gaserschließungs- bzw. Förderunternehmen mit größeren Öl- und Gasbeständen, Einnahmen und Erträgen. Dieser Kandidat würde Exterra auch durch ein entsprechendes Management sowie durch technische und branchenbewanderte Experten mit nachgewiesenen Fachkenntnissen aufwerten, was wiederum den Aktionärswert steigern würde."
Robert Royal meinte außerdem: „Die geplante Fusion würde Exterras Öl- und Gasbestände vergrößern sowie Einnahmen und Erträge steigern, durch welche das gegenwärtige Management glaubt, auf die nächste Stufe zu gelangen und das Unternehmen einen Schritt näher an sein Ziel bringen zu können, seine Aktien an der New Yorker Börse (NYSE/AMEX) zu notieren. Zudem glaubt das Management, dass eine erfolgreiche Fusion mit dem entsprechenden Fusionskandidaten Exterra dazu befähigen würde, mit gewissen Investmentbanking-Unternehmen, die früher bereits Interesse an Exterra gezeigt haben, sowohl über registrierte als auch private Platzierungen Verhandlungen zu führen, um Kapital zu erwirtschaften."
Das Management freut sich über Anfragen von privaten Öl- und Gaserschließungs- bzw. Förderunternehmen, die die Absicht haben, mit einem vollauf berichtenden börsennotierten Öl- und Gaserschließungs- bzw. Förderunternehmen zu fusionieren. Das Management wurde bereits von qualifizierten Fusionskandidaten kontaktiert. Die Unternehmensleitung und die Kandidaten führen gerade ihre Überprüfung durch, während man weiterhin über einen fairen Geschäftsabschluss für alle beteiligten Parteien verhandelt.
Die bisherigen Pläne des Managements sahen vor, Pachtrechte für Öl- und Gas, Öl-und Gasquellen sowie Ausrüstung zu erwerben, wobei für Reserven die Kreditfazilität von Exterra in Anspruch genommen wurde. Das Management ist höchst zuversichtlich, dass sein Plan, mit einem größeren privaten Unternehmen mit hochwertigen Öl- und Gasbeständen zu fusionieren, der perfekte Weg sei, die besten Anlagegüter zu erwerben und somit Exterras gegenwärtige und zukünftige Posten zu erweitern.
NEWS!!! NEWS!!! NEWS!!! NEWS!!! NEWS!!! NEWS!!! NEWS!!! NEWS!!!
Exterra Energy, Inc. is Negotiating to Retain an Investment Banker to Assist with Current Merger Candidates
AMARILLO, Texas--(BUSINESS WIRE)--Exterra Energy, Inc., (OTCBB: EENI) announced today that it is in the process of negotiating with the hiring of an Investment Banking Firm to assist The Company with its current merger negotiations.
“The appropriate Merger Candidate would be a successful Oil and Gas Exploration and Production (E & P) Company with greater Oil and Gas assets, revenues, and earnings. This candidate would also further enhance Exterra with industry management, technical and field Professionals with proven expertise that will enhance shareholder value.”
Robert Royal, Chairman of Exterra, said, “The appropriate Merger Candidate would be a successful Oil and Gas Exploration and Production (E & P) Company with greater Oil and Gas assets, revenues, and earnings. This candidate would also further enhance Exterra with industry management, technical and field Professionals with proven expertise that will enhance shareholder value.”
Mr. Royal commented further, “The planned merger would increase Exterra’s Oil & Gas Assets, revenues and earnings that current Management believes would take Exterra to the next level, and qualify The Company’s intent to list its shares on the NYSE/AMEX Stock Exchange. In addition, management believes that a successful merger with the appropriate merger candidate would qualify Exterra to successfully negotiate with certain Investment Banking Firms, to raise capital, both registered and private placements, which have shown an interest in Exterra in the past.”
Management welcomes inquires from private Oil & Gas E & P Companies with intentions to merge with a fully reporting publicly traded Oil & Gas E & P Company. Management has been contacted by qualified merger candidates. Management and the Candidates are currently performing their due diligence while continuing to negotiate a fair deal for all parties involved.
Management’s past plans have been to acquire producing Oil & Gas Mineral leases, Oil and Gas Wells and equipment, with engineered reserves utilizing Exterra’s credit facility. Management is highly confident this plan to merge with a larger private company with quality Oil & Gas Assets is the perfect way to acquire the best assets and develop Exterra’s current and future assets.
About Exterra Energy, Inc.
Exterra Energy, Inc. (OTCBB: EENI) is an emerging oil and gas exploration production company based in Amarillo, Texas, with a Field Office in Parker County, Texas. Exterra is committed to a strong acquisition strategy purchasing producing oil properties that are undervalued due to current market conditions. Exterra is primarily active in the development, acquisition and operations of oil & gas properties. Please visit our web site at www.exterraenergyinc.com.
insert-text-here
Who is EENI merging with, UPDV? In 2009 two officers of EENI were elected to board of UPDV. I understand that due to legal problems, they never sat on the board of UPDV. Now in December 2010 EENI announces that they are merging. But they didn't with who. Is it possible that they are merging with UPDV?
Can anyone find out and let us know?
if there is any truth in this, then it is getting very dark here
AOS determined that the reason for the late filing was that Exterra Energy's auditors would not sign off that the assets are worth $28 million. It was determined that the assets of Exterra were worth less than $4 Million
http://www.tradingmarkets.com/news/stock-alert/eenie_administrative-outsource-services-inc-rejects-exterra-s-allegations-1072163.html
18-Sep-2009
Entry into a Material Definitive Agreement
Item 1.01 Entry Into a Material Definitive Agreement
Secured Loans from Happy State Bank
On September 14, 2009 (the Closing Date"), the Registrant, as borrower, closed a Term Loan and Revolving Loan pursuant to the terms and conditions of a Loan Agreement, dated as of September 14, 2009 (the "Loan Agreement"), by and between the Registrant, Robert Royal and Todd R. Royal (Robert Royal and Todd R. Royal, collectively, the "Guarantors"), and Happy State Bank a Texas banking corporation (the "Lender"). Pursuant to the terms and conditions of the Loan Agreement and other related documents (all of which are collectively referred to herein as the "Loan Documents"), the Registrant agreed to borrow and Lender agreed to lend the Principal Amount of Ten Million Dollars ($10,000,000) under the terms and conditions described in the Loan Documents.
Pursuant to the terms of the Loan Documents, the Guarantors, the Registrant's Chairman and the Registrant's President and a member of the board of directors, agreed to execute and provide guarantees for the repayment of the Principal Amount of the Loan and for the completion of the other commitments of the Registrant under the terms of the Loan Documents.
The foregoing description of the Loan Documents, and the transactions contemplated thereby, is a summary of terms, is not intended to be complete and is qualified in its entirety by the complete text of those agreements, copies of which are attached hereto as Exhibit 10.10, attached to this Report.
The proceeds of the Loan will be utilized to purchase additional revenue generating assets and for normal and customary operating expenses as set forth in the Loan Documents.
http://biz.yahoo.com/e/090918/eeni.ob8-k.html
http://www.sec.gov/Archives/edgar/data/1367387/000105050209000230/exterra8k9-14.txt
I saw EENI present in San Francisco last month. This management really seems on top of their game. Best part is the OS is only 1.25m!!!!!
Exterra Energy, Inc. Announces 100 Shares to All Prior Shareholders of Record and Corporate Cash Dividend Policy
May 18, 2009 1:26:00 PM
Email Story Discuss on ZenoBank
View Additional ProfilesAMARILLO, TX -- (MARKET WIRE) -- 05/18/09 -- Exterra Energy Inc. (OTCBB: EENI) announced today that Exterra's Board of Directors authorized a 100 share initial restricted stock to all shareholders of record at the Special Director's Meeting held April 15, 2009, as part of the stock restructure, to make sure no Exterra Shareholder, prior to the stock split, was split out. In addition to the corporate stock dividend policy, the company has authorized to distribute 25% of the after tax net annual earnings of Exterra to all stockholders of record.
Todd R. Royal, President of Exterra Energy Inc., stated, "As part of our corporate strategy the board was pleased to issue 100 shares in the form of restricted stock to all prior Stockholders of record and implement a cash dividend program for shareholders of Exterra." He went on to comment, "Our board has begun aggressively improving the company's balance sheet with acquisitions, which will enable the company's significant cash flow which in turn allows for the cash payment equal to 25% of the net profits to be paid in dividends."
Robert Royal, Chairman and CEO, commented, "We believe the market and our shareholders will appreciate the cash dividends. The company's management team has found success using this financial model in our past public corporate experience." Mr. Royal went on to state, "Our strategy is to improve the company's balance sheet through development of the Company's mineral assets and strategic acquisitions of undervalued properties, by using our assets, equity markets, commercial banking and investment banking relationships and to improve earnings per share and move Exterra Energy to a senior exchange."
About Exterra Energy, Inc.
Exterra Energy, Inc. (OTCBB: EENI) is an emerging oil and gas exploration production company based in Amarillo, Texas, with a Field Office in Parker County, Texas. Exterra is committed to a strong acquisition strategy purchasing producing oil properties that are undervalued due to current market conditions. Exterra is primarily active in the development, acquisition and operations of oil & gas properties, including the Newark East (Barnett Shale) Gas Field in North Texas and now holds an undivided interest in approximately 17,750 gross acres of leases in the Newark East (Barnett Shale) area with over 63 wells producing on the acreage. The Company is also active in Permian Basin West Texas with mineral acres, producing oil and gas wells, wells being put online and chemically treated, a new Saltwater Disposal Facility, a 12 mile gas gathering system and a new gas contract with Panther Pipeline and Southern Union that will increase production in Pecos County. The Barnett Shale gas field is undoubtedly one of the largest producing gas fields in the continental U.S. today, and Exterra is committed to developing and expanding its acreage and assets within the core area of the field. Exterra is further committed to increasing its oil assets by acquiring additional producing oil wells in the Permian Basin in West Texas, as well as other areas. Exterra's strategic plan is to take advantage of the opportunity that exists in the oil industry today by acquiring undervalued producing oil wells, since many in the Oil Industry are heavily leveraged.
The Company and its representatives may from time to time make written or oral forward-looking statements, including statements contained in the Company's filings with the SEC and in its reports to shareholders. One can identify these forward-looking statements by use of words such as "strategy," "expects," "plans," "anticipates," "believes," "will," "continues," "estimates," "intends," "projects," "goals," "targets" and other words of similar meaning. One can also identify them by the fact that they do not relate strictly to historical or current facts. These statements are based on our assumptions and estimates and are subject to risks and uncertainties. In connection with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, the Company is hereby identifying important factors that could cause actual results and outcomes to differ materially from those contained in any forward-looking statement made by or on behalf of the Company.
INVESTOR RELATIONS
Kelly Black
CEO
Premier Media Services Inc.
1046 E. University Dr., Mesa, AZ 85203
E: kblack@premiermediaservice.com
T: (866) 216-8814
Exterra Energy Inc. Announces New Stock Symbol as EENI.ob
May 11, 2009 3:58:00 PM
Email Story Discuss on ZenoBank
View Additional ProfilesAMARILLO, TX -- (MARKET WIRE) -- 05/11/09 -- Exterra Energy Inc. (OTCBB: EENI) announced today that we began trading under our new stock symbol EENI.ob, which was issued by the NASDAQ. Issuing a new symbol was the final step in completion of agreement for the acquisition of certain mineral leases with proven undeveloped oil and gas reserves in the Newark East (Barnett Shale) Gas Field of North Texas, in consideration of the payment of 5,603,577 shares of restricted common stock of the Company
Todd R. Royal, President of Exterra Energy Inc., stated, "I am very excited about the future of Exterra Energy with our most recent acquisition consisting of mineral leases with proven undeveloped oil and gas reserves. The Engineering Firm of Harper and Associates has identified 6 PUDS, on the leases, in Parker and Jack Counties, Texas. With these recently acquired assets, we will improve the company balance sheet significantly and immediately begin our development and acquisition roll up strategy of acquiring under valued oil and gas assets to increase shareholder value." Mr. Royal went on to state: "The value of the properties acquired was based upon the discounted value of the proved undeveloped reserves done by a third party, Harper and Associates, and the trading price of the Company's shares."
Robert Royal, Chairman and CEO, commented, "Our strategy for the company in the public markets is to improve the company's balance sheet through development of the Company's mineral assets and strategic acquisitions of undervalued properties, by using our assets, equity marketing, commercial banking relationships to improve earnings per share and move the public company to a senior exchange."
About Exterra Energy, Inc. EENI.OB is an emerging oil and gas exploration production company based in Amarillo, Texas, with a Field Office in Parker, County, Texas. Exterra is committed to a strong acquisition strategy purchasing producing oil properties that are undervalued due to current market conditions. Exterra is primarily active in the development, acquisition and operations of oil & gas properties, including the Newark East (Barnett Shale) Gas Field in North Texas and now holds an undivided interest in approximately 17,750 gross acres of leases in the Newark East (Barnett Shale) area with over 63 wells producing on the acreage. The Company is also active in Permian Basin West Texas with mineral acres, producing oil and gas wells, wells being put online and chemically treated, a new Saltwater Disposal Facility, a 12 mile gas gathering system and a new gas contract with Panther Pipeline and Southern Union that will increase production in Pecos County. The Barnett Shale gas field is undoubtedly one of the largest producing gas fields in the continental U.S. today, and Exterra is committed to developing and expanding its acreage and assets within the core area of the field. Exterra is further committed to increasing its oil assets by acquiring additional producing oil wells in the Permian Basin in West Texas, as well as; other areas. Exterra's strategic plan is to take advantage of the opportunity that exists in the oil industry today by acquiring, under valued producing oil wells, since many in the Oil Industry are heavily leveraged.
The Company and its representatives may from time to time make written or oral forward-looking statements, including statements contained in the Company's filings with the SEC and in its reports to shareholders. One can identify these forward-looking statements by use of words such as "strategy," "expects," "plans," "anticipates," "believes," "will," "continues," "estimates," "intends," "projects," "goals," "targets" and other words of similar meaning. One can also identify them by the fact that they do not relate strictly to historical or current facts. These statements are based on our assumptions and estimates and are subject to risks and uncertainties. In connection with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, the Company is hereby identifying important factors that could cause actual results and outcomes to differ materially from those contained in any forward-looking statement made by or on behalf of the Company.
INVESTOR RELATIONS
Kelly Black
CEO Premier Media Services Inc.
T: (866) 216-8814
1046 E. University Dr.
Mesa, AZ 85203
E: kblack@premiermediaservice.com
Exterra Energy, Inc. Announces Corporate Cash Dividend Policy; They Will Be Introducing New Management Team to the Financial Community at the FSX Conference in San Francisco, CA
On Tuesday April 28, 2009, 3:24 pm EDT
AMARILLO, TX--(MARKET WIRE)--Apr 28, 2009 -- Exterra Energy, Inc. (OTC BB:EENR.OB - News) announced today that Exterra's Board of Directors has authorized a corporate stock dividend policy which the company is authorized to distribute 25% of the after tax net annual earnings of Exterra to all stockholders of record by distributing quarterly cash dividends to all Exterra Stockholders of record.
In addition Exterra Energy, Inc. will be introducing their new management team to the financial markets by presenting at the Financial Services Exchange Conference held at Argonaut Hotel in San Francisco, CA. on May 1, 2009 at 1:45PM. Presenters are Robert Royal, Chairman, CEO, and Todd R. Royal, President, COO.
Todd R. Royal, President of Exterra Energy, Inc., stated, "As part of our corporate restructure strategy the board was pleased to implement a cash dividend program for shareholders of Exterra." He went on to comment, "By aggressively improving the company's balance sheet with acquisitions it will enable the company to have significant cash flow which in turn allows for the cash payment equal to 25% of the net profits to be paid in dividends."
Robert Royal, Chairman and CEO, commented, "We believe the market and our shareholders will appreciate the cash dividends. The company's management team has found success using this financial model in our past public corporate experience." Mr. Royal went on to state, "Our strategy for the company in the public markets is to improve the company's balance sheet through development of the Company's mineral assets and strategic acquisitions of undervalued properties, by using our assets, equity marketing, commercial banking relationships and stock restructuring to improve earnings per share and move the public company to a senior exchange."
About Exterra Energy, Inc.
Exterra Energy, Inc. (OTC BB:EENR.OB - News) is an emerging oil and gas exploration production company based in Amarillo, Texas, with a Field Office in Parker County, Texas. Exterra is committed to a strong acquisition strategy purchasing producing oil properties that are undervalued due to current market conditions. Exterra is primarily active in the development, acquisition and operations of oil & gas properties, including the Newark East (Barnett Shale) Gas Field in North Texas and now holds an undivided interest in approximately 17,750 gross acres of leases in the Newark East (Barnett Shale) area with over 63 wells producing on the acreage. The Company is also active in Permian Basin West Texas with mineral acres, producing oil and gas wells, wells being put online and chemically treated, a new Saltwater Disposal Facility, a 12 mile gas gathering system and a new gas contract with Panther Pipeline and Southern Union that will increase production in Pecos County. The Barnett Shale gas field is undoubtedly one of the largest producing gas fields in the continental U.S. today, and Exterra is committed to developing and expanding its acreage and assets within the core area of the field. Exterra is further committed to increasing its oil assets by acquiring additional producing oil wells in the Permian Basin in West Texas, as well as other areas. Exterra's strategic plan is to take advantage of the opportunity that exists in the oil industry today by acquiring, under valued producing oil wells, since many in the Oil Industry are heavily leveraged.
About Financial Service Exchange, Inc. (FSX)
FSX is the premier investment conference organization in the United States. Founded in 1983, they are a national organization comprised of independent FINRA broker/dealer firms. Through a series of regularly scheduled conferences, FSX brings these firms together with the purpose of sharing information and showcasing investment opportunities. The organization has hosted consecutive quarterly conferences for more than 25 years. FSX is one of the most reputable and established national alliances in the country for independent broker/dealers and their firms.
The Company and its representatives may from time to time make written or oral forward-looking statements, including statements contained in the Company's filings with the SEC and in its reports to shareholders. One can identify these forward-looking statements by use of words such as "strategy," "expects," "plans," "anticipates," "believes," "will," "continues," "estimates," "intends," "projects," "goals," "targets" and other words of similar meaning. One can also identify them by the fact that they do not relate strictly to historical or current facts. These statements are based on our assumptions and estimates and are subject to risks and uncertainties. In connection with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, the Company is hereby identifying important factors that could cause actual results and outcomes to differ materially from those contained in any forward-looking statement made by or on behalf of the Company.
Contact:
INVESTOR RELATIONS
Kelly Black
CEO
Premier Media Services Inc.
1046 E. University Dr., Mesa, AZ 85203
E: kblack@premiermediaservice.com
T: (866) 216-8814
Exterra Energy, Inc. Announces New Management Acquisition Strategy, Asset Purchase, Reverse Stock Split
On Monday April 27, 2009, 2:20 pm EDT
AMARILLO, TX--(MARKET WIRE)--Apr 27, 2009 -- Exterra Energy, Inc. (OTC BB:EENR.OB - News) announced today that on April 15, 2009, the Company's Board of Directors approved an agreement for the acquisition of certain mineral leases with proven undeveloped oil and gas reserves in the Newark East (Barnett Shale) Gas Field of North Texas, in consideration of the payment of 5,603,577 shares of restricted common stock of the Company following the effective date of a reverse stock split by the Company.
Todd R. Royal, President of Exterra Energy, Inc., "I am very excited about the future of Exterra Energy with our most recent acquisition consisting of mineral leases with proven undeveloped oil and gas reserves. The Engineering Firm of Harper and Associates has identified 6 PUDS, on the leases, in Parker and Jack Counties, Texas. With these recently acquired assets we will improve the company balance sheet significantly and immediately begin our development and acquisition roll up strategy of acquiring undervalued oil and gas assets to increase shareholder value." Mr. Royal went on to state, "The value of the properties acquired was based upon the discounted value of the proved undeveloped reserves done by a third party, Harper and Associates, and the trading price of the Company's shares."
Robert Royal, Chairman and CEO, commented, "We are very pleased with the recent board decisions including the approval of the above transaction April 15, 2009, at the Special Director's Meeting, and on April 15, 2009, the Company's Board of Directors approved a 60 for 1 reverse stock split of the issued and outstanding shares, to be effective at the beginning of trading May 4, 2009." Mr. Royal went on to state, "Our strategy for the company in the public markets is to improve the company's balance sheet through development of the Company's mineral assets and strategic acquisitions of undervalued properties, by using our assets, equity marketing, commercial banking relationships and stock restructuring to improve earnings per share and move the public company to a senior exchange."
About Exterra Energy, Inc. (OTC BB:EENR.OB - News) is an emerging oil and gas exploration production company based in Amarillo, Texas, with a Field Office in Parker County, Texas. Exterra is committed to a strong acquisition strategy purchasing producing oil properties that are undervalued due to current market conditions. Exterra is primarily active in the development, acquisition and operations of oil & gas properties, including the Newark East (Barnett Shale) Gas Field in North Texas and now holds an undivided interest in approximately 17,750 gross acres of leases in the Newark East (Barnett Shale) area with over 63 wells producing on the acreage. The Company is also active in Permian Basin in West Texas with mineral acres, producing oil and gas wells, wells being put online and chemically treated, a new Saltwater Disposal Facility, a 12 mile gas gathering system and a new gas contract with Panther Pipeline and Southern Union, that will increase production in Pecos County. The Barnett Shale gas field is undoubtedly one of the largest producing gas fields in the continental U.S. today, and Exterra is committed to developing and expanding its acreage and assets within the core area of the field. Exterra is further committed to increasing its oil assets by acquiring additional producing oil wells in the Permian Basin in West Texas, as well as other areas. Exterra's strategic plan is to take advantage of the opportunity that exists in the oil industry today by acquiring, undervalued producing oil wells, since many in the Oil Industry are heavily leveraged.
The Company and its representatives may from time to time make written or oral forward-looking statements, including statements contained in the Company's filings with the SEC and in its reports to shareholders. One can identify these forward-looking statements by use of words such as "strategy," "expects," "plans," "anticipates," "believes," "will," "continues," "estimates," "intends," "projects," "goals," "targets" and other words of similar meaning. One can also identify them by the fact that they do not relate strictly to historical or current facts. These statements are based on our assumptions and estimates and are subject to risks and uncertainties. In connection with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, the Company is hereby identifying important factors that could cause actual results and outcomes to differ materially from those contained in any forward-looking statement made by or on behalf of the Company.
Contact:
INVESTOR RELATIONS
Kelly Black
CEO
Premier Media Services Inc.
T: (866) 216-8814
1046 E. University Dr.
E: kblack@premiermediaservice.com
Mesa, AZ 85203
I think I was the moderator of this board before the Admin dropped me... but I don't know why.....nobody else was posting anyway....plus...the previous 5-6 posts were me anyway....
Maybe I was just setting it up to become moderator, but forgot to actually apply..... who knows?
One thing is pretty clear....we have a whole lot less lawsuits to settle now. That overhang being gone has to be positive.
There was a fairly active buyer rthe other day...bought up the low offers adn then grabbed what was it 10K or 20K at .22 cents.
Darn I shoujld have under cut that bid...at .20. Then I'd have more dollars to support the bid and buy back more shares at a lower price. Well, maybe I would anyway. :)
Randy
So far it looks like the stock price doesn't really care. It was actually trading lower than this before the news came out.
I suspect that was probably some people close of the company selling out before this additional information became known.
Well, it seems that the company has unraveled it's acquisition of Star Energy.
It will be interesting to see if they have another direction in mind or whether it's back to the drawing board.
August 31, 2008 10Q Released....
http://yahoo.brand.edgar-online.com/DisplayFiling.aspx?dcn=0001050502-08-000276
Total revenues Q1 2008 $ 607,433
Total Revenue Q1 2007 $ 18,947
Net loss Q1 2008 $(259,831)
Net Loss Q1 2007 $(622,882)
Revenues in all of Fiscal 2008 1.19M
Now in Q1 of Fiscal 2009 we've done 1/2 of that in the first quarter alone.
PLUS, the 10Q says that as the year continues production will be ramped up.....so what does that mean? Minimally, 4 x's $600K.... $2.4 Million. Optimistically? $3-5 Million. It will be interesting to hear how much their reserves increase over the same period of time.
Regards,
Randy
Well, I think you're probably over optimistic to be talking about $50 to $100 per share....but I think it is fairly reasonable to talk about 75 cents and a dollar at this point.
Also, since when does a stock trade up 337% and nobody posts a YAHOOOOOOOOO!! or a YIPPEEEEE!
I own around 16K shares and their value increased about $3 dollars in one day. Granted this is at the ask and not at the bid, but at any rate it is pretty exciting.
I think the apparent value disclosed in the 10K is convincing some people that EENR has a future and is worth a lot more than a 10-20 cents.
Regards,
Randy
Guys its a million dollar company and the stock is a penny can anytime turn to a small cap to mid cap to large cap. I mean it has a potential of reaching to 50 to 100 dollars in couple of years.. Every dip provides an opportunity to buy...
Followers
|
4
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
426
|
Created
|
08/09/07
|
Type
|
Free
|
Moderators |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |