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.

Tuesday, July 5, 2011

Blast Hits Egyptian gas pipeline

A pipeline carrying gas from Egypt to Israel and Jordan has been hit by an explosion in the Sinai peninsula.
The explosion on Monday sent flames into the sky, but there were no immediate reports of casualties. Emergency services were deployed to control the fire.

The blast took place at a pumping station along the pipeline at Nagah, in the Bir Abdu region, sources told the Reuters news agency.

The news agency quoted an official as saying that men armed with machine guns came in a small truck and forced guards at the station to leave before planting explosive charges.

Gasco, the company which operates the pipeline, shut it down after the explosion. 
This is the third attack on Egyptian gas pipelines since an uprising overthrew Hosni Mubarak, the country's president, and saw power being handed over to the military. The first two took place on April 27 and February 5.
There was also a failed attempt to attack the pipeline in March.

Egypt supplies about 40 per cent of Israel's natural gas, where it is used mainly to generate electricity. In December 2010, four Israeli firms signed 20-year contracts worth up to $10bn to import Egyptian gas.
Jordan, meanwhile, imports about 6.8 million cubic metres of Egyptian gas every day, accounting for 80 per cent of its electricity requirements.

Source: Aljazeera

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