REASONS THIS STOCK COULD SOAR WHEN OIL PRICES SPIKE 50 - 100%

  • The company was founded by a former Exxon Mobil president responsible for 300,000 barrels of production a day (BOPD).
  • Management has invested over $1.5 MILLION in establishing the corporate structure, refining acquisition parameters and developing the current deal pipeline.
  • Current production averages 1133 barrels of oil per month (BOPM) representing 950,000 BO proved / probable reserves. This project is estimated to do 3400 BOPM after rework.
  • Proven and probable (2P) reserves associated with their Louisiana assets have a discounted present value (PV10) of $41,245,950 as of a March 1, 2011 reserve summary prepared by management, indicating attractive potential for growth.
  • Closed bridge financing for $150,000 and went public in 2011.
  • Plans to acquire over 1,500 acres with over 59 shut-in wells and 30 producing wells with 40 BOPD of current production, which will do 200 BOPD with minimal rework representing 2.1 MILLION barrels of proven reserves. A preliminary agreement has already been secured.
  • Plans to acquire and develop $200 MILLION in proven reserves.

Monday, June 13, 2011

Blue Dolphin to Transition to OTCQB

HOUSTON, June 10, 2011 /PRNewswire/ -- Blue Dolphin Energy Company (Nasdaq: BDCO) ("Blue Dolphin" or the "Company"), an independent oil and gas company with operations in the U.S. Gulf of Mexico and the North Sumatra Basin in offshore Indonesia, announced today that its common stock will cease trading on The Nasdaq Capital Market ("Nasdaq") effective with the open of business on Monday, June 13, 2011.  The Company expects its securities to begin trading on the OTCQB Marketplace immediately following suspension of trading on Nasdaq. The Company's ticker symbol will remain as "BDCO".
Blue Dolphin was notified by a Nasdaq Hearings Panel (the "Panel") on June 9, 2011, that its common stock would be delisted as a result of no longer meeting requirements set forth under Nasdaq Marketplace Rule 5550(b), which requires listed securities to maintain a minimum of $2.5 million in stockholders' equity for continued listing.  The Company may file an appeal of the Panel's decision to the Nasdaq Listing and Hearing Review Council.

Source: PR Newswire
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