kingrichards
07-27-2009, 10:32 PM
Here is my new pick for tomorrow NAEY
NAEY is a domestic oil and natural gas producer focused on properties relatively close to its Apwash Pipeline in Washington County, Oklahoma.
NAEY originally set up shop on an old oil field from the 1920's to exploit coal bed methane gas, but soon discovered that there was also recoverable oil.
Engineering reports from the 1970's indicated that not only was there natural gas in the area, but also 1,000 to 2,000 barrels of recoverable oil per acre.
In the first three wells NAEY drilled looking for natural gas, the company found oil. NAEY's first three wells have oil and gas showing in multiple zones.
NAEY was an energy play that was exclusively to be coal bed methane gas, but has blossomed into both oil and natural gas production.
NAEY currently owns 900 acres adjacent to its Apwash Pipeline and anticipates to acquire an additional 1,500 acres.
NAEY believes it has 1.8 Million Barrels of Oil currently in place, and about 10 Million Cubic Feet of natural gas.
NAEY will target a minimum of 60 well completions per year, with future undiscovered net income that could exceed $60 Million at current oil and gas prices.
NAEY's goal is to complete a minimum of 120 wells over a two year period, maximize lease acquisition around its pipeline, and reach a valuation goal of $72 Million to $144 Million.
NAEY has also recently increased its ownership stake in approximately 16 miles of natural gas pipeline from 49% to 75% ownership.
Please do your own research.
Thanks, from King Richards
NAEY is a domestic oil and natural gas producer focused on properties relatively close to its Apwash Pipeline in Washington County, Oklahoma.
NAEY originally set up shop on an old oil field from the 1920's to exploit coal bed methane gas, but soon discovered that there was also recoverable oil.
Engineering reports from the 1970's indicated that not only was there natural gas in the area, but also 1,000 to 2,000 barrels of recoverable oil per acre.
In the first three wells NAEY drilled looking for natural gas, the company found oil. NAEY's first three wells have oil and gas showing in multiple zones.
NAEY was an energy play that was exclusively to be coal bed methane gas, but has blossomed into both oil and natural gas production.
NAEY currently owns 900 acres adjacent to its Apwash Pipeline and anticipates to acquire an additional 1,500 acres.
NAEY believes it has 1.8 Million Barrels of Oil currently in place, and about 10 Million Cubic Feet of natural gas.
NAEY will target a minimum of 60 well completions per year, with future undiscovered net income that could exceed $60 Million at current oil and gas prices.
NAEY's goal is to complete a minimum of 120 wells over a two year period, maximize lease acquisition around its pipeline, and reach a valuation goal of $72 Million to $144 Million.
NAEY has also recently increased its ownership stake in approximately 16 miles of natural gas pipeline from 49% to 75% ownership.
Please do your own research.
Thanks, from King Richards