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.

Wednesday, August 17, 2011

Next Generation Energy Corp Enters Into Major Agreement to Acquire 7,715 Acres of Natural Gas and Oil Rights in Prolific Devonian Shale Region of South East Kentucky


Next Generation Energy Corp (OTCQB : NGMC) today announced it has entered into an agreement to purchase 7,715 acres of natural gas and oil rights in the prolific Devonian Shale region of South Eastern Kentucky. 
The property consists of 39 tracks located in the Knox Countyarea of southeast Kentucky known for large reserves of natural gas and oil. The appraised value of these commodities on this property is estimated at $55 million or more. Darryl Reed, NGMC CEO, stated that "this acquisition is a home run for NGMC as the property can support up to 80 wells and can generate $55 million in natural gas and oil revenues at today's energy prices. Any increase in energy prices will be pure upside for the Company."
Next Generation Energy Corp. has been focused on this geographic area because Kentucky offers many advantages for development.  The area has significant recoverable natural gas and oil reserves in place and has been generally ignored by larger energy companies due to the small output from individual wells, typically between 20 and 80 barrels per day of oil and 10 - 200 million cubic feet of natural gas, as compared to larger well production in Alaska, West Texas, Louisiana and the Gulf of Mexico.

Source: PR Newswire 

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