-------------------- When you reach the bottom, the only place to go is up, that or die - Indian Larry Posts: 460 | From: Council Bluffs, IA | Registered: Mar 2005
| IP: Logged |
posted
due diligence The process of investigation, performed by investors, into the details of a potential investment, such as an examination of operations and management and the verification of material facts. http://www.investorwords.com/1596/due_diligence.html
I am sorry if you feel that I used the term DD wrong. I was hoping someone had information on this company. I have had a hard time locating info due to this company being pretty new.
Posts: 25 | From: I'm here!!! | Registered: Mar 2005
| IP: Logged |
Anza Innovations, Inc. until 2-04 10-31-04 company is in the development stage Gaofeng Gold Corp. until 1-05 Sun Oil & Gas Corp. newest name
Sun Oil Announces Its Participation in the Clovelly Prospect
VANCOUVER, British Columbia, Feb 08, 2005 /PRNewswire-FirstCall via COMTEX/ -- Sun Oil & Gas Corp. ("Sun Oil") (OTCBB: SUOG) is pleased to announce its participation in an exciting oil and gas area known as the Clovelly Prospect. The property is located approximately 35 miles southwest of New Orleans in Lafourche Parish. Pursuant to a participation agreement effective December 30, 2004 with ORX Resources, Inc. as the operator of the property, the Company acquired the right to earn and participate in the exploration and development of the Clovelly Prospect, for a one-time participation fee of approximately $27,300, due on or before March 30, 2005. This fee represents approximately 10% of the costs associated with drilling the initial test well, therefore allowing Sun Oil to hold a 10% interest in the proceeds from the well. The total costs associated with the first test well will be approximately $273,000.
The Clovelly Field is host to many oil and gas producers and the M Sand has produced in excess of 25 million barrels of oil and 120 billion cubic feet of gas since its discovery in 1950. Peter Wilson, Sun Oil's newly appointed President, stated: "The Clovelly Prospect is an exciting opportunity to commence an aggressive oil and gas exploration and development program, and building a significant value for our shareholders."
At a recent meeting of its Board, it was decided that in order to create long-term relationships with the Company's current shareholders, each shareholder holding a minimum of 3,000 shares at a record date of March 30, 2005 will receive a $20.00 Chevron gasoline gift card. Moreover, for new oil and gas wells brought into production, the Company will issue additional Chevron gasoline cards to its registered shareholders.
Investor Relations Inquiries: Peter Wilson, President: 604-340-4211
Safe Harbor Statement: "This News Release may include forward-looking statements within the meaning of section 27A of the United States Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, with respect to corporate objectives, projections, estimates, operations, acquisition and development of various interests and certain other matters. These statements are made under the "Safe Harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein."
SOURCE Sun Oil & Gas Corp.
CONTACT: Peter Wilson, President of Sun Oil & Gas Corp., +1-604-340-4211
posted
High since name change .23 Low is .13 last .18
Sun Oil Announces Financing
VANCOUVER, B.C., Feb 25, 2005 /PRNewswire-FirstCall via COMTEX/ -- Sun Oil & Gas Corp. ("Sun Oil") (OTC Bulletin Board: SUOG) is pleased to announce a completed Private Placement. Sun Oil & Gas is actively pursuing additional financing to fulfill its Clovelly Field Prospect and fund continuing operations. The Clovelly Field is host to many oil and gas producers and the M Sand has produced in excess of 25 million barrels of oil and 120 billion cubic feet of gas since its discovery in 1950. Peter Wilson, Sun Oil's newly appointed President, stated: "The Clovelly Prospect is an exciting opportunity to commence an aggressive oil and gas exploration and development program, and building a significant value for our shareholders."
At a recent meeting of its Board, it was decided that in order to create long-term relationships with the Company's current registered shareholders, each registered shareholder holding a minimum of 3,000 shares at a record date of March 30, 2005 will receive a $20.00 Chevron gasoline gift card. Moreover, for new oil and gas wells brought into production, the Company will issue additional Chevron gasoline cards to its registered shareholders.
As a result of recent shareholder questions regarding the gift card, the following is meant to clarify. A shareholder who qualifies for the Chevron gasoline gift card must be a shareholder of record which appears on the Transfer Agents shareholder list with certificates in physical form on the record date, March 30, 2005. Holders in street name must present to the company the following: 1) brokerage statements demonstrating their position being owned as of record date; 2) submit an affidavit signed by the individual stating they are the individual holder; and 3) submit Tax I.D. as proof of individual ownership.
Safe Harbor Statement: "This News Release may include forward-looking statements within the meaning of section 27A of the United States Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, with respect to corporate objectives, projections, estimates, operations, acquisition and development of various interests and certain other matters. These statements are made under the "Safe Harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein."
SOURCE Sun Oil & Gas Corp.
CONTACT: Investor Relations of Sun Oil & Gas Corp., 1-877-685-2711, or info@sunoilandgas.com
United States SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
FORM 8-K CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1933
Date of Report: February 7, 2005
Commission File Number: 000-28767
Sun Oil & Gas Corp. (Formerly Gaofeng Gold Corp.)
Nevada 88-0403070 (Jurisdiction of Incorporation) (I.R.S. Employer Identification No.)
1177 West Hastings Street, Suite 1750, Vancouver BC, Canada V6E 2K3 (Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (604) 683-2220
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Section 2 - Financial Information
Item 2.01 Completion of Acquisition or Disposition of Assets.
As reported on Form 8-K in Item 1.01, filed on January 03, 2005, herein incorporated by reference, on December 30, 2004, this Issuer has finalized Participation Agreement with ORX Resources, Inc., to participate with ORX Resources in the exploration and development of the “Clovelly Prospect” and for the right and obligation to participate in the first test well drilled ( the “Initial Test Well”) on the Clovelly Prospect up to the “Casing Point” and ORX Resources agrees to transfer, assign and set over to this Issuer, it’s successors and assigns, an undivided ten percent (10%) of all of ORX’s right, title and interest in and to all oil, gas and mineral leases, farm-out agreements or other contracts currently owned by ORX Resources arising out of the production from the “Initial Test Well” within the boundaries of the Clovelly Prospect.
The payment of $27,302.59 is due on or before March 30, 2005 and is a one-time participation fee. The fee represents approximately 10% of the costs associated with drilling the Initial Test Well, therefore, allowing this registrant to hold a 10% interest in the proceeds from the well. The total costs associated with the First Test Well are approximately $273,025.86.
If after completion of the Initial Test Well on the Clovelly Prospect up to the “Casing Point” proves that the “Initial Test Well” is a well capable of producing oil or gas in commercial quantities, the Issuer may elect, but is not obligated, and ORX Resources agrees to develop the rest of the Clovelly Prospect and all its formations at additional costs. If the Issuer elects to proceed with production beyond the “Casing Point” the Issuer is obligated to pay 10% of all the costs associated with production of the well.
Section 9 - Exhibits
Item 9.01 Exhibits. Minutes of the Board of Directors - Exhibit A
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the date indicated.
SUN OIL & GAS, INC. MINUTES OF THE BOARD OF DIRECTORS
On February 4, 2005 the President Peter Wilson for Sun Oil & Gas, Inc. held a meeting of its Board of Directors. The sole officer and member of the Board, Peter Wilson was present. Mr. Wilson made the following motion and accepted the following resolution.
MOTION: Mr. Wilson moves to create long term relationships with the Company’s current shareholders by issuing to each shareholder of record as of March 30, 2005, who owns 3,000 shares of common stock or more, a $20.00 Chevron Gasoline Gift Card. Mr. Wilson also moves to issue additional Chevron Gas Cards for every new gas or oil well the company successfully brings into production.
RESOLUTION: By vote of the Board of Directors for Sun Oil & Gas, Inc., it is resolved that the Company shall issue to shareholders of record as of March 30, 2005, who own 3,000 shares of common stock or more, a $20.00 Chevron Gas Card.
Signed and dated this 4 th day of February, 2005
/s/Peter G. Wilson Peter G. Wilson President & Director Sun Oil & Gas, Inc.
-------------------- Invest with your brain not with your heart. Posts: 4405 | From: Bristol, Tn, USA | Registered: Aug 2004
| IP: Logged |
posted
makememoney, will you be able to share why you're interest in SUOG? They seem pretty stable to me... But this one doesnt have any pattern of profit and lost or anything like that...
-------------------- If you don't have a plan, click that little X at the top, and never trade again. Posts: 447 | From: Upstate, NY | Registered: Feb 2004
| IP: Logged |
posted
I have looked at this one quite a bit due to a news letter I recieved a while back. Hadn't been able to find a whole lot about the company but am now starting to get excited about it. In this news letter I recieved it stated:
"Harrison Curole is one of the men who is experienced and have proven beyond a shadow of a dought their ability to make a vast fortunes for themselves and others in oil and gas exploration in Louisiana's Clovelly Fields.
Harrison Curole, an experienced, oil man in Clovelly Fields is in charge of SUOG exploration and drilling and has drilled hundreds of successful oil wells in this exact formation.
The Clovelly Fields wells produce 3 to 4 times more oil then average wells.
The Management of Sun Oil and gas Corp. is giving away $20.00 gas gift cards to shareholders of record beginning March 31st
Clovelly Fields track record of making billions in profits in Louisiana.
Many of the oil wells Harrison is drilling in Clovelly Fields are re-entries, with up front costs about 50% less than drilling a new well. These savings make a huge difference when it comes time to do books, and the investor will see them reflected in the stock.
Today there are 62million shares of sun oil and gas, and the price per share is around .20 a share. The total market capitalazation today is approximatley 12 million. since the first well has not yet begun (first is expected spring of 2005) pumping oil or gas yet, revenues are non-existent. The average P/E for an oil company is well over 10, closer to 15. My estiments use a conservitive 10 as the target P/E. When Sun Oil Gas reaches annual earnings of 60mil, earnings per share will be approximately on e dollar. At a P/E of 10 that would justify a share price of $10.00
For instance, First Calgary Petroleum was trading in the low $1.00 range in September, 2002 when it hit its first commercially viable well. by the end of the year, the share price had soared to near $8.00- a 700% profit in three months."
I would like to hear what you think. I am new to pink and otcbb stocks and had always been scared of them due to so much unknown info. But have made a little money latley on some new penny investments and would like to add more to my portfolio.
Thanks for all and any
Posts: 25 | From: I'm here!!! | Registered: Mar 2005
| IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
![[Smile]](smile.gif)
