posted
Energas Resources Reports Results for Fiscal Year Ended January 31, 2006 OKLAHOMA CITY--(BUSINESS WIRE)--May 16, 2006--Energas Resources, Inc. (OTCBB:EGSR) announces the results of the Company's fiscal year ended January 31, 2006. Highlights include:
-- Total Revenue increased 79% to a record $1,197,252 from $668,490 in the previous year.
-- Present Value of Future Net Cash Flows from Proved Oil and Gas Reserves increased 15.1% from January 31, 2005.
-- Cash Loss for the year ended January 31, 2006 (Net Loss plus Depreciation, Depletion and Amortization and a Non-cash Impairment Charge) decreased 41% to $(517,791) from $(880,234), year over year.
"The fiscal year ended January 31, 2006 showed solid progress over the previous year in terms of revenue, proven reserves and a lower cash loss," stated George Shaw, President. "The first quarter of the current fiscal year will show the first revenue from natural gas sales in the Parkway field. While we experienced delays and equipment failures during the startup phase of the Parkway pipeline, we continue to believe that the field holds promise for the future of our Company. We will issue a complete update on the status and strategy for the Parkway in the near future."
Safe Harbor Statement
When used in this press release, the words "intends," "believes," "anticipated" and "expects" and similar expressions are intended to identify forward-looking statements. Such statements are subject to risks and uncertainties, which could cause actual results to differ materially from those projected. Factors that could cause or contribute to such differences include normal risks associated with oil and gas drilling activities. In addition, adverse weather conditions can hinder or delay operations, as can shortages of equipment and materials or unavailability of drilling, completion, and/or work-over rigs. Even though a well is completed and is found to be productive, water and/or other substances may be encountered in the well, which may impair or prevent production or marketing of oil or gas from the well.
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I AM EXPECTING A CLOSE OF 0.31-0.33 ...5 DAYS AVERAGE CLOSING AND THE IMPACT OF THE NEWS WILL SET IN TOMORROW MORNING WITH A BIG GAP. I'M HOLDING MY BABY.
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this stock went really down today from its open of .25... to .145, now its bouncing back really huge. Note... demand is way lower than supply...and this is a good thing for a stock that is ready to flyyyy !!!!
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it was 11-13 for about 20 mins....but it is moving back up now, L2's says demand is more than supply, we should get back to .26 or higher today, and it will probably run tomorrow.
Lord knows I cant wait
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average Five price is 0.308, I'm not gonna be surprised if it gets back there EOD or tomorrow. The company is very reputable company,
Energas Resources, Inc. (OTCBB: EGSR), is a Delaware corporation based in Oklahoma City, Oklahoma. Incorporated in 1989 as a British Columbia corporation, Energas Resources was formed in 1991 when the current president, George Shaw, purchased the controlling interest in the company. Energas Resources became a Delaware corporation in 2000 and received SEC approval to begin trading on the OTC Bulletin Board in Spring 2003 under the symbol EGSR.
Also called the company and I asked about the last the company, its a Family owned company, and they seem consistent with the DD I did on them.
-------------------- Please do your DD. Break some bread with me!
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