Came upon this and to me it looks like GOLD. Trading on the OTCBB, and Oil/Gas is charging north. Leads me to believe we will see even better revenues next qtr! Look at last p/r!
New Century Energy Announces Record Operational and Financial Results Tuesday May 20, 1:59 pm ET
HOUSTON--(BUSINESS WIRE)--New Century Energy Corp. (OTCBB:NCEY - News) announced record financial and operational results for the three months ending March 31, 2008. Edward DeStefano, the Company’s CEO, stated, “The strong first quarter results are a direct result of our continuing success in our drilling program in McMullen County, Texas. We are maintaining high production levels into the second quarter and during April we also completed a new oil well in Wharton County making 80 BOPD.” NCEY’s first-quarter revenue was $5.9 million for the three months ending March 31, 2008, a 100% increase from $3.0 million for the first three months of the prior year; Total net oil production for the three months ended March 31, 2008 was 50,387 barrels of oil on Company operated properties; which is up 48% from 34,032 barrels in the first-quarter 2007; Total net gas production for the three months ended March 31, 2008 was 144 MMCF of gas; Total proved reserves at year end 2007 equaled 2.1 million barrels of oil equivalent (BOE); Approximately 76% of New Century’s proved reserves are oil, with the remaining 24% natural gas; Gross acreage under lease as of March 31, 2008 equaled 20,726 gross acres, compared to 17,214 gross acres as of March 31, 2007; and Adjusted EBITDA for the first-quarter of 2008 was $3.8 million, compared to $1.7 million reported in the first-quarter of 2007. For additional information regarding EBITDA as a non-GAAP financial resource, please refer to the disclosures contained at the end of this release. DeStefano also stated, “The average price for oil in the first-quarter of 2008 increased 73% to $96.67 per barrel from $55.62 in the first-quarter of 2007, and we are benefiting directly from the increases in commodity prices.” “We are very pleased with our continued reserve growth and our plans to add to our reserves in 2008 as we continue our drilling program in McMullen County, Texas, with three new wells scheduled to be drilled by the end of June.”
About New Century Energy Corp.
New Century Energy Corp. is an independent energy company engaged in oil and gas exploration, development and production. New Century Energy Corp. currently owns oil and gas leases on over 20,000 gross acres throughout the State of Texas; including oil producing acreage in McMullen, Wharton, and Jim Hogg Counties, Texas. The Company also owns natural gas producing fields which include the operated South Sargent Field in Matagorda County, and non-operated interests in the Wishbone Field in McMullen County, Texas. New Century Energy Corp’s mission is to increase shareholder value by acquiring proven oil and gas reserves, profitable drilling and development on company owned acreage, and by participating in joint ventures that can expand its development program and prospect base. Additional information is available at: www.newcenturyenergy.com
We define EBITDA, as adjusted, as income before accounting changes, adjusted to exclude (1) interest and other financing costs, net of capitalized interest, (2) income taxes, (3) depreciation, depletion and amortization, and (4) changes in the fair value of derivative liabilities. The Company believes BITDA is a useful measure of evaluation of its financial performance. Because EBITDA is not a measure of financial performance calculated in accordance with GAAP, it should not be considered in isolation or as a substitute for operating income, net income or loss, cash flows provided by operating, investing and financing activities, or other income or cash flow statement data prepared in accordance with GAAP. However, EBITDA is a common alternative measure of operating performance used by investors, financial analysts and rating agencies. A reconciliation of EBTDA to net earnings is included below. EBITDA as presented may not be comparable to other similarly titled measures reported by other companies.
First Quarter First Quarter 2008 2007 Calculation of Adjusted EBITDA:
Net loss $ (562,701 ) $ (2,156,065 ) Interest expense 2,257,713 2,332,018 Income tax (benefit) expense --- --- Depreciation, depletion & amortization expense 1,950,417 2,114,423 Net Change in fair value of derivatives 110,556 (559,390 ) Adjusted EBITDA $ 3,755,985 $ 1,730,986
Posted by juice on :
to give you a comparison of how undervalued. check out NCEY vs. AEZ (which trades on amex at 4.00+/share!)
Posted by juice on :
just realized this is under .11... ooopps hehe. if mods can move thread thats fine, but I think they'll just have to move it back here cause this will be over that in due time imo lol
Posted by juice on :
that was quick! .11 is here wow volume coming in. chart has reset and supporting higher move! I think a MONSTER move coming!!
Posted by juice on :
SHARE STRUCTURE:
56M O/S CEO has 37.5M Promethean has ~ 5.6M (See SEC 13 Filing)
Float estimated to be about 13Mill...
Posted by juice on :
.12s GONE... i guess someone is listening to me lol
Posted by juice on :
.122 new 52wk high!
Posted by juice on :
.13 broke!
Posted by steve1404 on :
i missed the entry ont his one how high do you think it will go before the break looks like glcc has had it
Posted by juice on :
it'll take little breaks all the way up... its a low float so it moves back and forth quick. ive hit .07's and .08's yesterday and today. I'm not sure where it will eventually stop we could be talking .90-1.00 imo.
Just check out AEZ and where that trades relative to its income stmnt... then see NCEYs income stmnt (which blows AEZ's away!)
Posted by TruthLiesWithin on :
Hey Juice...
Based on what I saw with others like this, such as KYUS, this could very easily be in the $3 range.
crazy if you ask me, but the potential is very strong.
You'll know when you see movement in the nickles and dimes daily.
Posted by juice on :
exactly Truth... this one looks unreal as far as being undervalued. I couldn't believe the numbers I was looking at. I guess no one was has been really taking a hard look at it in a while. I've been watching it for about a week and nibbling at it. today is the first day its really got some nice action and moved. i think people are starting to notice so I tried to post it before all hell breaks loose lol!!
This really has no where to go but up if you ask me...
Posted by juice on :
best part is with oil flying i bet next qtr revs will be even better then NCEY has ever seen! good time to own it
Posted by juice on :
Other oil companies with less than spectacular numbers are flying. I can't help but compare but when KYUS jumped, and today it looks like it is rebounding from the profit taking last week, it had 35 million shares, and a market cap of 90 million.
Right now NCEY is an infant in comparison, and the last quarter numbers were based on $95 barrel oil.
The line where they say, the increase in commodities is even making htings better, is key. Oil is higher now, and production hasn't slipped, but in fact grew, and they want to drill more?
Let's see if this gets more noticed.
Posted by juice on :
Truth-i heard they just put a permit through on June 2nd. They are adding 3 additional sites by end of June according to p/r. No where to go but up!!
Posted by juice on :
bust .14/15 and its on like donkey kong!
Posted by juice on :
wow .14 breached for a sec. volume pouring in! this is going to bust loose.
Posted by juice on :
.14 gone, someone just smacked it fo 400k!
Posted by juice on :
.15s!!!
Posted by juice on :
GONE!!! BLAST OFF!!
Posted by juice on :
MWUAHAHAH .17s going. seriously this type of revenue this will easily see .50+
Posted by juice on :
.18 HOD..new 52wk high (again hehe)
Posted by juice on :
wow im really impressed how fast this caught on. I think some big players got in on this after that p/r. haven't seen volume like this ever here. and the buying just continues with a little consolidation along the way.
.20 now
Posted by juice on :
truth you in this?
lets just think again... last Q was $5.9M with Oil was at $90 and $7 nat gas...
This Q oil is in the $120's and natural gas is over $10...
DO THE MATH!!!!
Posted by juice on :
plus three more sites online end of JUne!!
Posted by Mad Texan on :
Juice,
I am sure in it. After you posted this yesterday, I went through the Q and started buying the ???? out of this. I sold three of my other holdings to accumulate a boat load of shares.
I wish Ameritrade would fix the streamer since it still shows 0.08 over 0.089 I have called them three times already.
Tex
Posted by juice on :
nice Tex!! am I dreaming??? this looks too good to be true?!
Posted by Mad Texan on :
If it wern't for that streamer we would have already traded over 2MM. When I tried to buy earlier, it wouldn't let me because of the .08/.089 screw up. A-Trade is killing us.
No, you are not dreaming. This will be in dollars very soon and I will be doing the naked happy dance.
Tex
Posted by juice on :
i know ameritrade has been screwing with me for days with this stock, saying my order is to far above asking price lol... we're gonna have to say something!!
Posted by Mad Texan on :
I already have and they told me that they were writing a ticket to fix it. In the mean time, I believe it is impacting the stock movement.
Can you believe that they are NOT DILUTING the stock to pay back the debt!! I love it. The CEO is going to be filthy rich!
Tex
Posted by juice on :
Got that right Tex!!! amazing! super rich!! lol
NO HISTORY OF DILUTION! not a single share hit the market in a year and a half! WEEEE
As of May 5, 2008, the issuer had 56,010,612 shares of common stock
As of March 30, 2007, the issuer had 56,010,612 shares of common stock
As of November 15, 2007, the issuer had 56,010,612 shares of common stock
As of August 15, 2007, the issuer had 56,010,612 shares of common stock
As of May 15, 2007, the issuer had 56,010,612 shares of common stock
As of March 30, 2007, the issuer had 56,010,612 shares of common stock,
As of November 10, 2006, 56,010,612 shares of Common Stock
Posted by Mad Texan on :
Bid is stacking and the gains are being held. Very GOOD SIGN! Maybe a run before we close today. I think we close in the 20's and go again tomorrow. JMHO.
No one is selling this. I can understand why not. A-Trade still hosed up.
Tex
Posted by juice on :
friggin A-trade!! i emailedd them too... i don't see why anyone would sell this Tex. You can see that big money came in this today, big buying all the way up to .20 and now we're stuck at HOD. unreal man-- this one will be talked about!!
Posted by Mad Texan on :
This is only going to catch more wind and I owe you for posting it yesterday! Watch this pick up tomorrow and in to next week. MMs already parked at .65 just waiting. ha ha
NITE being stubborn on the ask. He needs to move and let the 21's start. This one has a LOT of room to run. A lot!
Another great day in NCEY land.
Tex
Posted by juice on :
Tex, they capped it right at .13 yesterday and opened it there today. I think they'll cap it here again or try too... MM's doing a good job here managing inventory. shares are thin, and with todays volume they def know where this is headed! but so do WEEEEEEEEEEE have a good night!
Posted by Mad Texan on :
Juice,
You do the same pal! The ASK on my A-Trade streamer just went to .65!!
Tex
Posted by juice on :
WOW broke NITE!! TOMORROW IS GONNA BE NUTS!!
Posted by Mad Texan on :
(SMILE!!!!!)
Tex
Posted by juice on :
Tex you see those 100k buys at .21! ain't no small players here!! this is serious bro!
AHHHHHHHHHHHHHH!!! Posted by Mad Texan on :
Yup, and thanks to you I have 475K shares that will stay parked until we get into dollar land.
I will have to come out there and meet you and buy a few thousand beers!
Tex
Can't wait until tomorrow. :-)
Posted by T e x on :
somebody rang? Posted by TruthLiesWithin on :
Hey Tex and Juice...
I wasn't sure if you saw my prior post about the snap ticket being off at TDAtrade, they were supposed to put a report in and fix it, and in the mean time slowed down a few of my buys...
On another note...
Nickles and dimes, was my comment about when the movement becomes real..
It's happening..
JDO 19 million float, trades close to $1 1.3 million barrels proved.
KYUS, had a market cap over 120 million a week ago, with similar numbers... traded at $4+ I bought at $1.25 sold $3.85, todays price indicates people moved their money out for this gem.
NCEY has a better financial numbers and almost 900,000 proved barrels oil, but probably more with these new wells they want in, not sure, but if this NCEY is any indication of the the previous KYUS, then $2-$3 will be realistic,,,,and besides, this one has been around longer.
Posted by TruthLiesWithin on :
Oh, and they have more cash on hand, I didn't see anywhere where it said anything about going concerns, and they are EBITDA pos.....
What more can anyone ask for....
The little wobble in price early this morning were people who probably jumped in and out for a quick fix, but I bet many realized what it potentially could do and got back in for a longer ride.... I am guessing here, that maybe this explodes to high $2 range, then settles back to high $1 range.
Posted by T e x on :
quote:Originally posted by TruthLiesWithin: Hey Tex and Juice...
I wasn't sure if you saw my prior post about the snap ticket being off at TDAtrade, they were supposed to put a report in and fix it, and in the mean time slowed down a few of my buys...
On another note...
Nickles and dimes, was my comment about when the movement becomes real..
It's happening..
JDO 19 million float, trades close to $1 1.3 million barrels proved.
KYUS, had a market cap over 120 million a week ago, with similar numbers... traded at $4+ I bought at $1.25 sold $3.85, todays price indicates people moved their money out for this gem.
NCEY has a better financial numbers and almost 900,000 proved barrels oil, but probably more with these new wells they want in, not sure, but if this NCEY is any indication of the the previous KYUS, then $2-$3 will be realistic,,,,and besides, this one has been around longer.
No, sorry, I missed it.
Posted by TruthLiesWithin on :
Are you telling me that the snap ticket was also screwed today????
My call was in yesterday complaining about this, and they said they would fix it...
They told me it was my history files, and I needed to delete them.... I was like HUH????
I never had to delete cookies or files to fix this problem....
Too bad, I could have bought more, but I think I will be fine for now...
Posted by T e x on :
Nope...not telling you anything.
If you'll back up some, will see if I can understand what you're complaining about, though...
Posted by TruthLiesWithin on :
I complained about the bid/ask being wrong on Atrade..
it was showing the wrong prices, and orders could not be placed.
they said they would fix it.
Then I see everyone saying it was still screwed up the next day...
So much for Atrade fixing things,
It stalled me from being able to buy some shares for awhile.. I had to call and place it, they waived the commission... But still that is messed up when you are trying to jump on things and this wrench is thrown at you...
but besides that,
my guess today..
CLOSE .44
Posted by juice on :
quote:Originally posted by Mad Texan: Yup, and thanks to you I have 475K shares that will stay parked until we get into dollar land.
I will have to come out there and meet you and buy a few thousand beers!
Tex
Can't wait until tomorrow. :-)
WOW Tex 475k?! holy #$^^* bro!! I keep asking myself if I am dreaming about this $1-2 pps... but it really seems like a reality. You guys saw MXC right? lol
Posted by juice on :
Oil $131!
Posted by juice on :
Oil over $132.00!! we are gapping! .24x.27 all eyes on NCEY!!
Posted by juice on :
.28!!! about to blow here NO ONE SELLING!
Posted by Mad Texan on :
Hey GM Juice,
How we doing today on our NCEY?
Tex
Posted by Mad Texan on :
Juice/Truth,
I was the one complaining about A-Trade yesterday. Those jokers cost us additional volume on this issue.
Looks like a litle consolidation and then ready for the next leg up.
Tex
Posted by Mad Texan on :
Here we go guys. Bid building and building...
Posted by juice on :
starting to move, bids stacking now .27's getting hit!
Posted by juice on :
HERE WE GO .34!!*!! #$*&*$&*$#
Posted by Mad Texan on :
Wooooooooooooooo-Hoooooooooooooooooo Baby!!!
Posted by juice on :
trying to cap it again got some sellers above .30 L2 is flipping out lol
Posted by Mad Texan on :
I will take 5 cents daily on this one. N/P.
Unless I am missing something, this one is headed for dollar land.
We may get 2MM today.
Tex
Posted by juice on :
Vol: 985,722 could very well se 2MM vol Tex!
we blew through those .29's and .30's no prob, we'll be right back over it after this breather imo....thinner and thinner as shares are accumulated and very little is being sold:)
Posted by juice on :
grabbed 12k more today... just couldn't help myself!
Posted by Mad Texan on :
Agree Juice. Look how the ASK is thinning out. No one wants to sell this baby. Bids are stacking again. Looking forward to the next leg up!!
Tex
Posted by Mad Texan on :
Agree Juice. Look how the ASK is thinning out. No one wants to sell this baby. Bids are stacking again. Looking forward to the next leg up!!
NCEY taking a well deserved breather. I think you will see folks moving out of KYUS and into NCEY next.
A little profit taking is to be expected.
Tex
Posted by Mad Texan on :
Let 'em stack the bids and hold the orders until there is enough steam to plow past the 34's for good this time.
I need to buy more shares.
Tex
Posted by Mad Texan on :
They won't let me buy any at .29! I have an order for 45,000 shares. Jerks!!
Tex
Posted by juice on :
quote:Originally posted by Mad Texan: They won't let me buy any at .29! I have an order for 45,000 shares. Jerks!!
Tex
lol thats gonna be tough now! you the .29 bid??
Posted by juice on :
oil $$137!!!
Posted by juice on :
looks like you got your fill Tex, nice!
Posted by T e x on :
DO what?
I'm not in even in this?
Posted by juice on :
no Mad Tex above lol
Posted by T e x on :
oh...lol--confusing
Thanks,
Tex
Posted by juice on :
haha 2 tex's on an oil stock, go figure:)
Posted by T e x on :
only one Tex Posted by juice on :
little pull back i see... friday profit takers. no worries, have a nice weekend all!! see you next week!!
Posted by Mad Texan on :
Juice,
From now on I will sign off as MTex to avoid the confusion. LOL
I think those that wanted out, got out.
Still long over 500K shares. :-)
MTex
Posted by Mad Texan on :
Didn't figure this pulling back to 25 cents today; but, no worries here. Good and healthy pull back for the next run up.
Have a great weekend juice!!
MTex
Posted by TruthLiesWithin on :
Still an amazing day for this..
I can't find any other company with better numbers.
Proven reserves I saw was 890,000 barrels. BUT I saw some other info on another site which indicated 1.6 million barrels.
This is around the same as KYUS. and I think JDO.
I am going to try to dissect a little more, but personally it is pointless, the share price can and will do what the others have done.
Think about this, the pullback today allows the ones who were staying away because the price jumped to quick, the oppurtunity to now get in. knowing it could bounce up 10 cents just as fast. I know there are many who wanted this, but missed the early boat.
I was one of them on KYUS, who had a chance when it was well under a buck, before it's ride to over $4.
People will realize that .25 is still pretty inviting.
OIL price now blowing through the roof, this is all perfect timing for NCEY. I personally have goosebumps knowing what this is most likely going to do. Let it sink in over the weekend.
JUST ADDING SOME INFO. They do have 1.6 million barrels oil proven. makes up 80 percent of their proven reserves, with the rest being natural gas.
IRONICALLY, read this statement below right from their last 10Q.
------------------------------------------------ The annual average WTI [West Texas Intermediate] price, which was $72 per barrel in 2007, is projected to average $94 per barrel in 2008, but ease somewhat to about $86 per barrel in 2009." Regarding natural gas, the EIA's current projection calls for the average U.S. wellhead price for natural gas to be "8.18 per Mcf in 2008 and $7.95 per Mcf in 2009." -------------------------------------------------
Average $94 in 2008!!!!!!!!!!!!!! Hello,,,,not when it is $120-$140 and probably going higher this year... easing back in 2009????? yeah right.
If their revenues are based on $75-$95 oil, then I can't wait for the next quarter. I never thought I would say this, but I hope oil hits $200 barrel.
Posted by Mad Texan on :
quote:Originally posted by TruthLiesWithin: Still an amazing day for this..
I can't find any other company with better numbers.
Proven reserves I saw was 890,000 barrels. BUT I saw some other info on another site which indicated 1.6 million barrels.
This is around the same as KYUS. and I think JDO.
I am going to try to dissect a little more, but personally it is pointless, the share price can and will do what the others have done.
Think about this, the pullback today allows the ones who were staying away because the price jumped to quick, the oppurtunity to now get in. knowing it could bounce up 10 cents just as fast. I know there are many who wanted this, but missed the early boat.
I was one of them on KYUS, who had a chance when it was well under a buck, before it's ride to over $4.
People will realize that .25 is still pretty inviting.
OIL price now blowing through the roof, this is all perfect timing for NCEY. I personally have goosebumps knowing what this is most likely going to do. Let it sink in over the weekend.
JUST ADDING SOME INFO. They do have 1.6 million barrels oil proven. makes up 80 percent of their proven reserves, with the rest being natural gas.
IRONICALLY, read this statement below right from their last 10Q.
------------------------------------------------ The annual average WTI [West Texas Intermediate] price, which was $72 per barrel in 2007, is projected to average $94 per barrel in 2008, but ease somewhat to about $86 per barrel in 2009." Regarding natural gas, the EIA's current projection calls for the average U.S. wellhead price for natural gas to be "8.18 per Mcf in 2008 and $7.95 per Mcf in 2009." -------------------------------------------------
Average $94 in 2008!!!!!!!!!!!!!! Hello,,,,not when it is $120-$140 and probably going higher this year... easing back in 2009????? yeah right.
If their revenues are based on $75-$95 oil, then I can't wait for the next quarter. I never thought I would say this, but I hope oil hits $200 barrel.
NCEY numbers of proven reserves are actually better than those of KYUS. I am fairly confident that $150.00 oil is daya away. $200.00 oil, it would be bad for the economy, but awesome for NCEY!
I am still in awe that we are still at 25 cents! I too will do some more researh and see if I may have missed something. These boys DO NOT DILUTE the stock. Their CFO is doing it right.
MTex
Posted by Mad Texan on :
Juice/Truth,
The only item I am not too sure about is the long-tern debt still on the books and the fact that they are required to state on their 10Q "A Going Concern". However, having said that, I believe that they have been in business for some 26 years and have been aggressively paying down the debt.
Thoughts??
MTex
Posted by TruthLiesWithin on :
Someone on IHUB or somewhere else I was reading about the debt being rolled over.
Obviously lenders trust them if they allow these rollovers, and yes they have paid debt with money generated from business, and NOT from dilution.
Looks like a working model to me.
Posted by juice on :
Good stuff you guys!! imo NCEY is moving forward the right way, which is pay of debt a little at a time without diluting the share structure, which will attract investors no doubt. The debt is down to $48 mill according to last Q...
and check this out, this is what the CD's use to be-->
On July 10, 2007, the Company extended the maturity date of the balloon payment under its $9.5 million Secured Term Note, which was approximately $6.4 million at June 30, 2007, from July 2007 to December 31, 2007. The $15 million Secured Convertible Term Note has a balloon payment of $11.1 million due June 30, 2008. As of June 30, 2007, the Company’s aggregate indebtedness to its primary lender totaled approximately $67.6 million, plus the fair value of its derivative liabilities (approximately $1.6million at June 30, 2007 ).
Since they have knocked off almost $20M in less than a year while oil was under a $100.00 per barrel, think about what they can do with oil on its way to $150.00 barrel!
im investing here and plan to hold. with oil and natural gas booming these small oil companies are seeing record rev's. nothing will stop NCEY from soaring. GL!! this is a gem!!!
Posted by juice on :
basically what I'm saying is they have a working model to pay off debt while increasing production and revenue without selling a single share! It doesn't get any better then that folks! you have to go long with some shares imo
Posted by juice on :
little breather today it looks like. good for chart!
Posted by TruthLiesWithin on :
no complaints here either..
I saw the spread was pretty wide early on, but still managed to let some trades near the bid through.
Posted by Mad Texan on :
Just arrived in Miami for a meeting tomorrow.
Still holding all my shares.
Should see some upward movement rest of the week.
MTex
Posted by juice on :
quote:Originally posted by Mad Texan: Just arrived in Miami for a meeting tomorrow.
Still holding all my shares.
Should see some upward movement rest of the week.
MTex
Nice MTex (lol)... i hope you don't plan to sell those before this quarters fins come out! Thats going to blow this up big.... im in accumulation mode this entire quarter. call me crazy but I don't plan to sell until I get what I think these shares are worth. and I kinda hope people get bored and let some go so I can get this cheaper hehe.. Posted by juice on :
still bringing us down! volume is light, nothing to worry about. gotta have the stomach to hold this one:)
Posted by TruthLiesWithin on :
Yeah, a little unusual for the little takedown, but mid week it should get interesting..
Posted by Mad Texan on :
Don't want to jinx this, but maybe we have hit bottom and North from here. LOL
Mad Texan!
Posted by juice on :
Here we go you guys! OIL climbing, 138!
Posted by juice on :
man if these numbers keep up through the qtr, NCEY gonna have fantastic numbers to report!!
Posted by Mad Texan on :
I agree. I need a road trip to Houston and see these guys for myself.
Posted by juice on :
DO IT!!! Posted by Mad Texan on :
Okay, we will. It's only about 3.5 hours from my house to NCEY. Time for some real DD with the ole chaps. I will let you know what I find out.
MTex
Posted by juice on :
awesome MTex!! Get that oil!
Posted by TruthLiesWithin on :
NEW OIL DISCOVERY!!!!
85 barrels a day..... check out the news.
$3.8 million at this pace $125 barrel oil.
Posted by juice on :
New Century Energy Corp. Announces New Oil Discovery Thursday June 12, 7:00 am ET
HOUSTON--(BUSINESS WIRE)--New Century Energy Corp. (OTCBB:NCEY - News) announces another new oil discovery resulting from its ongoing drilling program in McMullen County, Texas.
The Company is pleased to report its recent success and positive results from its newest oil completion in the San Miguel Creek Field, in McMullen County, Texas. The Rabke-Maspero Unit #4 well was recently completed in the Wright Sand at a depth of 5,550 feet and has been flowing continuously over the past week at rates in excess of 85 barrels of oil per day (BOPD) on a 9/64” choke with flowing tubing pressure of 545 pounds per square inch.
“We own 100% of the working interest in this well through our subsidiary Gulf Coast Oil Corporation. In addition to this completion in the Wright Sand, we have also identified probable behind pipe reserves in this well that will be production tested after the current completion depletes. The production facility is built and oil sales have already commenced from this new well,” stated Edward DeStefano, the Company’s Chief Executive Officer.
“Also, during May we drilled and set production casing in two new additional wells in this field and completion operations on these wells will commence next week. Based on our ongoing 3D seismic interpretation program in McMullen County, we have identified numerous additional drilling prospects on company-controlled acreage, and plan to continue drilling throughout 2008 and into 2009,” added Mr. DeStefano.
About New Century Energy Corp.
New Century Energy Corp. is an independent energy company engaged in oil and gas exploration, development and production. New Century Energy Corp. currently owns oil and gas leases on over 20,000 gross acres throughout the State of Texas, including oil-producing acreage in McMullen, Wharton, and Jim Hogg Counties, Texas. The Company also owns natural gas-producing fields which include the operated South Sargent Field in Matagorda County, and non-operated interests in the Wishbone Field in McMullen County, Texas. New Century Energy Corp.’s mission is to increase shareholder value by: acquiring proven oil and gas reserves, profitable drilling and development on company-owned acreage, and by participating in joint ventures that can expand its development program and prospect base. Additional information is available at: www.newcenturyenergy.com.
FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "will," "anticipated," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act, and are subject to the safe harbor created by the Act. The Securities and Exchange Commission has generally permitted oil and gas companies in their filings with the SEC to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use the terms probable and possible reserves, reserve potential or upside or other descriptions of volumes of reserves potentially recoverable through additional drilling or recovery techniques that the SEC's guidelines may prohibit us from including in filings with the SEC. These estimates are by their nature more speculative than estimates of proved reserves and accordingly are subject to substantially greater risk of being actually realized by the Company. Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward-looking statements that involve a number of risks and uncertainties. The reserve data included herein represents only estimates. Reserve engineering is a subjective process of estimating underground accumulations of oil and natural gas that cannot be measured in an exact manner. As a result, estimates of different engineers often vary. The estimates of reserves, future cash flows and present value are based on various assumptions, including those prescribed by the SEC relating to oil and natural gas prices, and are inherently imprecise. Our reserves and future cash flows may be subject to revisions based on many factors. It is possible that the assumptions made by management are not necessarily the most likely, and may not materialize, including but not limited to the possible undeveloped gas reserve. In addition, other important factors that could cause actual results to differ materially include the following: business conditions and the amount of growth in the Company's industry and general economy; competitive factors; ability to attract and retain personnel; the price of the Company's stock; and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. New Century Energy Corp. takes no obligation to update or correct forward-looking statements, and also takes no obligation to update or correct information prepared by third parties that are not paid for by the Company
Posted by juice on :
remember that is just 1 well of 3 by end of June!! this is a monster in the making folks! debt will be eliminated with cash from these rev's with gas prices this high! we're moving forward!!
Posted by Mad Texan on :
CEO Meeting (posted this wrong sorry guys)
Well guys, my wife and I met with the CEO and here is a summary of what we found out:
Current oil production is over 1200 barrels/day with 1500 expected by July
Reserves have increased by 28% since the last report was published (10Q) (He expects this to meet 35% very soon)
Gas production output is up 34% from last 10Q update
All debt has been restuctured through conventional means (Laurus is gone) and will be announced via PR before end of June
Plans to list on AMEX before end of year (he and his attorney working the details as we speak
And here is the kicker, I asked him how he plans to meet the listing requirments for AMEX or NAZ and he said when I release the numbers for 2nd Q, this will fly. While the stock is up, I will announced a 15MM-20MM share retirement (details still being worked). I believe he said he wants the share count around 30MM total O/S.
This guy is truly driven and has an awesome team making all this happen. He is absolutely dedicated to making this company a major player in the Gulf Area. He said we are not XOM, but we are sure trying to follow their lead.
All in all, great guy and if you get the chance, go see him and see the ops.
He never said we couldn't pass this on, but if you want to tell others please do as I am out the rest of the week and really don't have the time.
Glad I kept my shares!
MTex
Posted by juice on :
MTex holy #&**4 you are the man! everyone should be able to see where this is going if they take a few minutes to DD. And you went way beyond that! ITS BLACK AND WHITE, WE're ON THE WAY TO DOLLAR+ LAND! THANKS MY MAN!!!
Posted by juice on :
this is amazing---> And here is the kicker, I asked him how he plans to meet the listing requirments for AMEX or NAZ and he said when I release the numbers for 2nd Q, this will fly. While the stock is up, I will announced a 15MM-20MM share retirement(details still being worked). I believe he said he wants the share count around 30MM total O/S.
Posted by juice on :
truth, both tex's, and myself... i think we need to be quiet so we can buy more before this catches fire;)
Posted by Mad Texan on :
We need volume guys. It will come when Ed starts droping these little bombs. No one is selling. Just checking in, good action.
MTex
Posted by TruthLiesWithin on :
Good Job, MTEX....
30mm shares means $4+ for this one......
Amex no problem. Actually, what is the MC required for AMEX listing? I think that is what matters more.
If he retires shares, via the way he said he would do it, then there won't be many left considering he owns most himself correct? I thought there was only like 15mm in the float..
The Monster is out of the cage!!!!!
Posted by juice on :
56M O/S (no history of dilution for ~ 1.5 yrs)CEO owns 37.5m shares Remember Promethean owns 5,595,460 shares That leaves about 13M in the float!!!
truth & madtex, remember to check out the ihub board, thats where I do most my posting!! (stocksablaze)
I have been keeping up with the I-Hub board and popped over here to be sure it was posted and my old friends had seen it....I sure hope this is the real deal like it appears to be. Not a flipper - this is actually an investment.
Good luck all!
Posted by juice on :
Sherri! im fully invested. Posted by Mad Texan on :
Well, that was a sucky day. I am thinking of buying SUTR next week and see that you (JUICE) are in that one. Think I can get shares at 6 bucks? I have a bid in for 10,000 at 6 bucks.
Have a great weekend guys!
MTex
Posted by PCola77 on :
Ummm, isn't that highly illegal for him to say? Unless it's in a filing or other PR, I wouldn't go around announcing that conversation, or there could be some pretty serious consequences for the guy that said it and potentially anyone who trades based on that info.
quote:Originally posted by juice: this is amazing---> And here is the kicker, I asked him how he plans to meet the listing requirments for AMEX or NAZ and he said when I release the numbers for 2nd Q, this will fly. While the stock is up, I will announced a 15MM-20MM share retirement(details still being worked). I believe he said he wants the share count around 30MM total O/S.
Posted by juice on :
quote:Originally posted by Mad Texan: Well, that was a sucky day. I am thinking of buying SUTR next week and see that you (JUICE) are in that one. Think I can get shares at 6 bucks? I have a bid in for 10,000 at 6 bucks.
Have a great weekend guys!
MTex
def bro think you could get it. great stock. been in since 3.75 and 4.00 flipped at 8.10, bought some 6.66's for fun haha and 6.14's this week.....
Posted by juice on :
quote:Originally posted by PCola77: Ummm, isn't that highly illegal for him to say? Unless it's in a filing or other PR, I wouldn't go around announcing that conversation, or there could be some pretty serious consequences for the guy that said it and potentially anyone who trades based on that info.
Just about all of it was previously disclosed information (via past p/r's & filings). Everyone who is thinking about buying NCEY can read through the filings. Its all there, almost black and white. Its soooo obvious that 2nd Q numbers will blow all other Q's out of the water just based on the price of oil and nat'l gas alone-DeStefano just confirmed that progress.
He mentioned AMEX, thats always the place to aim for, and we won't be otcbb for much longer once numbers are reported and pps catches up-no surprise there...
This is the first mention of share buyback I've heard, and as of right now just an intention (and a great intention may I add), and it may happen who knows-if anything it indicates the positive direction of management to protect shareholders moving forward. (if history is any indication, not a single diluted share for 1.5 yrs, so maybe a buyback? or conversion to preferred shares to reduce O/S)
Again, like you said, nothing is set in stone until confirmed via filings and public release as New Century moves forward...no worries, and best of luck to you PCola! Posted by TruthLiesWithin on :
Would be curious to know how they got Lauras out of the picture.
But good to know they were able to restructure the money owed. Lenders must trust them, and I guess their business model shows that.
Posted by juice on :
truth-we should find out in a few weeks. im excited to hear about the 2 new wells completed this week... should hear news very soon, by sometime next week or end this week imo. New Cent Energy is real deal and we will see very significant gains from here imo
Posted by juice on :
MTex, please email me back when you have a min, thanks. we need to talkk!!
Posted by juice on :
MTex- reply here stocksablaze99 at g m a i l . c o m.
for some reason my PMs have been disabled on allstocks!! what the heck!?
Posted by TruthLiesWithin on :
I can't even calculate any numbers.
They had $95 oil shown in that last filing.
It's obviously a lot higher, and the production has increased, what?? Double and now maybe more.
I hope there is no games here, I agree, this one is more in control of their gameplan than others, and damn, if KYUS hit $4 recently, then this should be able to do it too. And even the KYUS drop is still better than NCEY right now....
Posted by juice on :
bro check out PDO vs NCEY!!! new one brought to our attention on ihub. PDO was around 2 something, and made its way to 29.00 when it was found (look at the chart). But get this--> our revenue is about 4 times as much using those 95.00 oil figures!!! yes 95, just imagine with oil steady in the 130s and natural gas around 13 how this quarter will look!!!
Posted by: OptionMonster Date: Tuesday, June 17, 2008 10:19:09 PM In reply to: notoriouskeef who wrote msg# 3911 Post # of 3957
LOOK AT THIS!!
Pyramid Oil Company (PDO) Announces Strong Revenue and Earnings Growth in First Fiscal Quarter
BAKERSFIELD, CA today announced financial results for its first fiscal quarter ended March 31, 2008.
Revenue increased 92% to $1,589,896 versus $826,180 in last year's first quarter. Approximately 81% of the increase was due to higher oil and gas prices, which were up by $38.50 per equivalent barrel of oil versus the first quarter last year. Approximately 12% of the increase was due to higher production and sales levels. Pyramid's first quarter net revenue share of crude oil production increased by approximately 1,800 barrels compared with the first quarter last year. ------------------------------------------------------------- NOW LOOK AT NCEY
New Century Energy Announces Record Operational and Financial Results
New Century Energy Corp. (OTCBB:NCEY) announced record financial and operational results for the three months ending March 31, 2008. Edward DeStefano, the Company’s CEO, stated, “The strong first quarter results are a direct result of our continuing success in our drilling program in McMullen County, Texas. We are maintaining high production levels into the second quarter and during April we also completed a new oil well in Wharton County making 80 BOPD.” NCEY’s first-quarter revenue was $5.9 million for the three months ending March 31, 2008, a 100% increase from $3.0 million for the first three months of the prior year; Total net oil production for the three months ended March 31, 2008 was 50,387 barrels of oil on Company operated properties; which is up 48% from 34,032 barrels in the first-quarter 2007; Total net gas production for the three months ended March 31, 2008 was 144 MMCF of gas; Total proved reserves at year end 2007 equaled 2.1 million barrels of oil equivalent (BOE); Approximately 76% of New Century’s proved reserves are oil, with the remaining 24% natural gas; Gross acreage under lease as of March 31, 2008 equaled 20,726 gross acres, compared to 17,214 gross acres as of March 31, 2007; and Adjusted EBITDA for the first-quarter of 2008 was $3.8 million, compared to $1.7 million reported in the first-quarter of 2007
Posted by juice on :
.24
Posted by TruthLiesWithin on :
Hey Juice...
You know rarely do i get that little tingly feeling about something I know is a sure thing.
NCEY is giving it to me, and I am trying to remain patient.
The other gas play, HTOG is totally stumping me..
Looking a the revenues of these companies all around, there are some that have less shares in the float, and triple the income, and trade for pennies, or way less.
After 15 years of this same MM crap, I wonder when I will quit this....
I wish the dot com days would return...
Posted by LuvThaCash on :
NOTE 2 - GOING CONCERN
As shown in the accompanying consolidated financial statements, New Century incurred recurring net losses of $562,701 and $2,156,065 for the three months ended March 31, 2008 and 2007, respectively, and has negative working capital of $22,040,140 and an accumulated deficit of $33,433,715 as of March 31, 2008.
The Company has maintained a satisfactory credit relationship with the primary lender over the past 33 months, as it has made its principal and interest payments when due, or has successfully negotiated amendments to its various loan agreements providing more flexible terms if and when needed. The Company has successfully financed four of its five acquisitions with borrowings from this primary lender, Laurus Master Fund, Ltd. (“Laurus”), with the remaining acquisition being a cash purchase. Accordingly, the Company is uncertain that it will be successful in meeting its working capital requirements through the end of 2008, including the successful negotiation of a refinancing of both its $11.1 million balloon payment under the $15 million Secured Convertible Term Note, due June 30, 2008, and the $6.4 million balloon payment under the $9.5 million Secured Term Note, due July 1, 2008.
Our growth and continued operations could be impaired by limitations on our access to the capital markets. In the event that we do not generate the amount of revenues from our oil and gas properties which we anticipate, and/or we decide to purchase additional oil and gas properties and are required to raise additional financing, we may be forced to scale back our operations which would have a material adverse impact upon our ability to pursue our business plan. We have no commitments from officers, directors or affiliates to provide funding. There can be no assurance that capital from outside sources will be available, or if such financing is available, it may involve issuing securities senior to our common stock or equity financings which are dilutive to holders of our common stock. In addition, in the event we do not raise additional capital from conventional sources, it is likely that our growth will be restricted and we may need to scale back or curtail implementing our business plan.
The conditions described above create substantial doubt as to New Century’s ability to continue as a going concern. The consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the outcome of this uncertainty.
** All in the 10-Q report. Might want to pay attention to wether or not they renegotiate before end of month.
Posted by TruthLiesWithin on :
This is precisely what most of us are watching.
there was some talk already about debt being carried over. And Lauras being out of the picture.
Not sure exactly, but with no dilution from this company in 18 months, it doesn't sound as dire to me. You would think they would dilute to raise money, and face it, they aren't going to just walk away from their oil.. They haven't yet..
Posted by juice on :
quote:Originally posted by LuvThaCash: NOTE 2 - GOING CONCERN
As shown in the accompanying consolidated financial statements, New Century incurred recurring net losses of $562,701 and $2,156,065 for the three months ended March 31, 2008 and 2007, respectively, and has negative working capital of $22,040,140 and an accumulated deficit of $33,433,715 as of March 31, 2008.
The Company has maintained a satisfactory credit relationship with the primary lender over the past 33 months, as it has made its principal and interest payments when due, or has successfully negotiated amendments to its various loan agreements providing more flexible terms if and when needed. The Company has successfully financed four of its five acquisitions with borrowings from this primary lender, Laurus Master Fund, Ltd. (“Laurus”), with the remaining acquisition being a cash purchase. Accordingly, the Company is uncertain that it will be successful in meeting its working capital requirements through the end of 2008, including the successful negotiation of a refinancing of both its $11.1 million balloon payment under the $15 million Secured Convertible Term Note, due June 30, 2008, and the $6.4 million balloon payment under the $9.5 million Secured Term Note, due July 1, 2008.
Our growth and continued operations could be impaired by limitations on our access to the capital markets. In the event that we do not generate the amount of revenues from our oil and gas properties which we anticipate, and/or we decide to purchase additional oil and gas properties and are required to raise additional financing, we may be forced to scale back our operations which would have a material adverse impact upon our ability to pursue our business plan. We have no commitments from officers, directors or affiliates to provide funding. There can be no assurance that capital from outside sources will be available, or if such financing is available, it may involve issuing securities senior to our common stock or equity financings which are dilutive to holders of our common stock. In addition, in the event we do not raise additional capital from conventional sources, it is likely that our growth will be restricted and we may need to scale back or curtail implementing our business plan.
The conditions described above create substantial doubt as to New Century’s ability to continue as a going concern. The consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the outcome of this uncertainty.
** All in the 10-Q report. Might want to pay attention to wether or not they renegotiate before end of month.
yes of course, always a concern. However there is actually less defecit on 10Q then there was last year-> it was at 68Mill.. now around 50mill and not a single share sold!
and this is promising--> Company has maintained a satisfactory credit relationship with the primary lender over the past 33 months, as it has made its principal and interest payments when due, or has successfully negotiated amendments to its various loan agreements providing more flexible terms if and when needed. . . And this is not at all a concern because we expect 2nd qtr revenues to blow away every expectation that there could be out there--> (I expect revenues upwards of 10Mill for 2nd qtr alone!) In the event that we do not generate the amount of revenues from our oil and gas properties which we anticipate, and/or we decide to purchase additional oil and gas properties and are required to raise additional financing, we may be forced to scale back our operations which would have a material adverse impact upon our ability to pursue our business plan. . . all that other literature is common place in a 10Q...
Remember -oil in previous quarter was being sold for aroun $96/barrel. Now we're talking $120's minimum, and lately hovering in $130s! Also nat'l gas (which makes up 24% of their revenue stream) was around $7. it just cracked $13.00 over the last few days! NCEY is directly benefiting from these price increases.
Not to mention our reserve value not including nat gas $220,000,000.00! and nat'l gas adds another $21-27 Million..We are SO close to having a proven reserve value of 1/4 of a BILLION bucks! That's insane for a .23/stock, with more revenue then PDO(25.00) and AEZ(4.00) combined!!!!!
We will hear more on financing/debt conversion within next few weeks. There should also be news regarding 2 additional wells sometime next week.
As with any stock, nothing is certain, but this is one of the best bets on the market right now imo.
Believe me, I don't get all excited and DD a stock this much if I don't think its worth the time. I've spent countless hours making sure I've read through every filing, and agree there are some legitimate concerns over deficit/debt, however NCEY has not diluted a single share while decreasing deficit, they're putting more wells online, we are hearing Laurus is going to be out of the picture very soon, and they are making a whole lot more cash then ever before... this has no where to go but up!!!
Posted by juice on :
from yahoo board-->
To be inline with its peers, NCEY needs to trade at +/- 4x revenues. Based on approx $20mil annually, that puts the market cap at $80 mil, or 6-7 times the current market cap.
With expanding production, the market cap could easily see $100mil+.
Target price is $1.80 per share. Buy 'em while they are cheap.
Posted by juice on :
quote:Originally posted by TruthLiesWithin: Hey Juice...
You know rarely do i get that little tingly feeling about something I know is a sure thing.
NCEY is giving it to me, and I am trying to remain patient.
The other gas play, HTOG is totally stumping me..
Looking a the revenues of these companies all around, there are some that have less shares in the float, and triple the income, and trade for pennies, or way less.
After 15 years of this same MM crap, I wonder when I will quit this....
I wish the dot com days would return...
I hear ya... market is a funny place. But I definitly have the tingles here! It's gonna take patience, but the story will unfold and NCEY will be found.. and then well, we're rich of course Posted by Happy Valley on :
Looking good here today... .23x.24
Posted by juice on :
hey happy, yes looking great! .24x.245 now shares in demand! NO where to go but UP
Posted by juice on :
.26x.265, super thin!
Posted by Happy Valley on :
.27 printing... Posted by juice on :
.27 stacked, should scare off some buyers... but every L2 wall has been thin, this trades so great. Bid has been UTing all day too which tells you there is a growing demand for shares.
Posted by greenteam13 on :
Finally settled on a stock here...got in on Friday for .21...great pick so far!
Posted by juice on :
nice greenteam! hold them puppies tight. its going to be a wild ride this summer!!
Posted by juice on :
back to .24x.25 scared some people... KNEW it lol
Posted by greenteam13 on :
I see that...I mean I've always heard make a certain percent and get out...but I've been doing some DD and reading what you guys have here...and it sounds like this is only the beginning for this one
Posted by juice on :
yep with Oil around $137 our proven reserve is about 220MILL!!!!! that doesn't include natl gas! we are worth far more then a quarter, thats for sure:) 2008 Reserve Report: http://www.newcenturyenergy.com/reservereport/ReserveReport2008.pdf Posted by TruthLiesWithin on :
The oil price has been high enough, long enough, and steady enough, that the revenues NCEY reports should be a lot higher based on their last one that stated $97 oil.
I would like to see a slow steady climb. KYUS was moving nickels and dimes the whole run up to over $4,,,,,,,I watched and bought in the low $1's
I am just waiting for whatever management has to offer... Secure financing, waiving of debt deadlines. Blockbuster revenues... Would be nice to hear that sort of thing...
Posted by greenteam13 on :
Well said Juice, and Truth...I highly agree...Volume has been great lately as well...when have you guys been in this since?
Posted by Happy Valley on :
.28x.29
Posted by juice on :
fortunately my avg is around .17... bought first at .076 and then all the way to .29:)
currently .281x.29!
Posted by Happy Valley on :
Added a few more to the ol' stash today...Looks like another green close for NCEY...
Posted by greenteam13 on :
good progress again today folks...
Posted by TruthLiesWithin on :
I had no problem waiting a bit the first 2 days, but got in at .12 and .13 Have enough, and looking for more like this..
Posted by Happy Valley on :
Printing .30 Posted by juice on :
.31 got ourselves a little breakout in the works!! chart is explosive!!
Posted by juice on :
got back to .28 and now we're at .30x.305... what a sweet trading stock. This is exactly what you want to see, no jump in stock price, a few cents each day, otherwise we may trigger a sell off. We are churning all the way up! im loving it!! chart looks super bullish and ready for breakout though check out this chart baby!
chart courtesy of Stockweasel on ihub---->
Posted by Happy Valley on :
.35 getting hit...
Posted by juice on :
.36x.37!!!
Posted by Happy Valley on :
.36's up...Unchartered territory here... Posted by juice on :
.40 hit!!
Posted by greenteam13 on :
What a day! That was a spike...should we be nervous here?
Posted by juice on :
green- long run this is headed to multi-dollars imo. right now it will jump tomorrow AM and sell off end of day as day traders exit, so ill try to pick up more share eod or mon/tues/wed next week.
Sell off usually happens on fridays with this stock from what i've seen, and i say usually because you never know and there could be news at any time-lots of news is expected...but thats how im playing this. GLTY
Posted by juice on :
ok just think about it....oil hitting $140 today natl gas $13! and NCEY is pumping around 1090/barrels a day, and thats as of APRIL/MAY from what I hear, AND thats just oil. Nat gas accounts for the other 24% of their rev, and that was aroudn 6-7 bucks last quarter.
I firmly believe NCEY will easily see rev's over 10Mill this quarter. Come August we should be flying and on our way to multi-dollars... why? because we're making lots of $$$ and debt will be getting wipped out- thats what people want to see. Posted by juice on :
o and when the market sees that, well AMEX/NAZ, not even a question and it'll happen FAST.
Posted by Happy Valley on :
Agree with Juice here, still think this one has more upside to it...That being said, don't be afraid to lock in some profits along the way...JMO...GLTY
Posted by greenteam13 on :
I definetly see what you guys are saying and I would have to say that I agree...I just don't understand how this one was so low to begin with based on the volume of oil that they handle...but I think that it's definetly starting to flex its muscles and I am going to stay on this "wild ride" ( if you don't mind me quoting you)...Great pick here juice!
Posted by TruthLiesWithin on :
Just look at KYUS.
They have less, but they also paid a promoter over a $million to advertise it, which is fine.
If that hit $4 plus, then NCEY can do it too.
I agree with Juice,
Tomorrow.
Spike in the AM.
Mid morning selloff, and flat afterwards.
If there is some sort of PR in regards to the revenue for the Months of MAY and JUNE, remember they reported $240,000 for April or something close to that based on $97 oil.
Oil jumped since then, and I thought they were doing 800 plus barrels a day, but it might be more.
Do the math, if they come back with some sort of figures triple what they had April, it could pop too fast for most.
Posted by TruthLiesWithin on :
NCEY
New Century Energy Corp., As of December 31, 2007, New Century Energy had proved reserves of 1,613,000 barrels of crude oil and 3.0 billion cubic feet of gas. The company was founded in 1985 and is based in Houston
_________________________________________________ POGS $2 plus
Pioneer Oil and Gas engages in the acquisition, development, production, and sale of oil and gas properties in the United States. . As of September 30, 2007, it had proved developed reserves of 33,413 barrels of oil and 917,430 thousand cubic feet of gas. The company was founded in 1980 and is based in South Jordan, the United States
--------------------------------
NCEY has more revenue. and probably more debt, but the value of what NCEY has in the ground is triple POGS......
Posted by SherriT on :
Hi boys! Continuing to look great - I can hardly wait for AMEX - wahootie!
Posted by juice on :
quote:Originally posted by TruthLiesWithin: NCEY
New Century Energy Corp., As of December 31, 2007, New Century Energy had proved reserves of 1,613,000 barrels of crude oil and 3.0 billion cubic feet of gas. The company was founded in 1985 and is based in Houston
_________________________________________________ POGS $2 plus
Pioneer Oil and Gas engages in the acquisition, development, production, and sale of oil and gas properties in the United States. . As of September 30, 2007, it had proved developed reserves of 33,413 barrels of oil and 917,430 thousand cubic feet of gas. The company was founded in 1980 and is based in South Jordan, the United States
--------------------------------
NCEY has more revenue. and probably more debt, but the value of what NCEY has in the ground is triple POGS......
yet another...thanks truth!
Also a thought to keep in mind...
The value of ceo's shares have gone from about 750k to about 13Mill now and he hasn't sold a single share. If that isn't any indication of where he thinks this is going i don't know what is! Goodnight and cheers to a nice and green morning;)
Posted by Ponson on :
.
This stock looks like it could be an eventual repeat of NWOG
.
Posted by TruthLiesWithin on :
NWOL.pk,
Yeah that one started real high...
If NCEY hit $10 or $20, I think there would be a huge party somewhere...
Posted by juice on :
PONSON- Just look at charts on MXC, PDO, KYUS, TGC... NCEY will be in dollars no problem. How many dollars that is the question:)
and yes, TRUTH there would be a huge party lol
Posted by juice on :
and NWOL was ridiculous i remember that well!
Posted by juice on :
.43
Posted by juice on :
MMs lining up at .51!
Posted by juice on :
55!!!!!!!!!!!!!
Posted by juice on :
.53x.54 super hot
Posted by juice on :
.54x.55 wall starting to crumble!!!!!!!!!!!
Posted by juice on :
oh finally i can see 1.01 on my L2 lol... not far off;)
Posted by Ponson on :
NWOL was ridiculous...and the fact that a few people who purchased large amounts were spreading rumors of good news on this board and another board made a lot of investors purchase and push the price up and then the ones spreading the rumors of good news sold and came out looking pretty while the others lost.
What seems so familar in this situation with NWOL is that there was one or two peeps on the board who "personally" spoke to the President of NWOL and had wonderful news, but later it was found out that it was just a hype and sell situation from those people.
Posted by juice on :
yep thats why i said it was ridiculous. pink non reporting scam. i never owned any...kinda wish i did when i first saw it lol. Here we have published data, filings, and numbers to back up the p/r's. No reason to say this is similar to NWOL.. unless you're refering to MadTexans trip down there. I suggest you speak with Mr Stefano yourself .... numbers are black and white.
Posted by greenteam13 on :
Big day again here...slight sell off right before close but this train just doesn't seem to be stopping...it did surprise me however that today was another spike with no big sell-off. But NCEY is still undervalued imo.
Posted by TruthLiesWithin on :
Ponson, I gathered where you were going with this.
KYUS was promoted all the way to $4+
Every company will hit it's peak value and then come back down.
Don't buy a company that is trading higher than what it is worth.
Research NCEY a little, and look at their equipment versus some other redneck operations.
You will see the difference...
Posted by TruthLiesWithin on :
Hye Juice, funny when you go back a few weeks and see how this was panning out..
Good call....
And it looks like the Nickles and Dimes movement has come. I thought it would scare some investors, but obviously most are seeing this in the $3-5 range...
Been doing some searching the past few days for some other hidden gems, boy it is slim pickins, none has a report on them like NCEY...
But there are a few potentials, as if this excitment isn't enough...
Posted by Happy Valley on :
quote:Originally posted by juice: oh finally i can see 1.01 on my L2 lol... not far off;)
Looks like I missed all the fun on Friday...Looking foward to next week...Hell of a call here bro... Posted by greenteam13 on :
Can't stop studying charts and comparing on the stocks you mentioned juice...like pdo and mxc...ncey's chart looks like it's headed down the same road, but there's so much more to come here...no doubt over a dollar soon imo.
Posted by juice on :
thanks guys. One thing is for sure, there is plenty more to come here! It still doesn't seem real to me that this will be headed to multi-dollars. I guess its because I'm so accustomed to seeing all the bull crap spread on msg boards that the reality of NCEY just can't set in. But the story is unfolding right in front of us and I really do believe this is all just the beginning.
I'm also SO glad we can all make some real $$, and I, like you guys, have someone to thank for showing me NCEY. Spread the love, this is one serious stock. and don't forget to take profit, I already have, but I do have a bundle that I will settle for hmmmm about $26.00:) DOn't laugh!! talk to you all this week...
Posted by Happy Valley on :
.56 Posted by juice on :
.62!
Posted by juice on :
back to .55... churning away:) gotta love it
Posted by juice on :
.64 new HOD wow strength is incredible. not that im surprised... lol
Posted by Happy Valley on :
.66 gettin' hit
Posted by juice on :
WHERES MAD TEXAN AT!? must have bought himself a small island, or checking some out...
Posted by Happy Valley on :
Here comes .70
Posted by Happy Valley on :
Hit .70 closed .69...Another great day here man!!!
Posted by juice on :
Happy you happy? lol Posted by greenteam13 on :
wow...I can't believe it either juice...stocked up on a few more shares today...going to take some profits though...I have a question though...I got screwed this morning because I set a buy limit at .48 bc that's what it closed at on Friday...the stock opened at .50...by the time I got to a computer I had to buy for .58...how can you tell what it's going to open up at? What site do you guys use?
Posted by juice on :
you need Level 2 to see bid x ask. Ameritrade has free level 2 for stocks if you have an account, as do other brokers.. who do you use? without L2 i feel like im lost!
Posted by greenteam13 on :
Yah that's how I feel! I have Scottrade...so the ask is what it's at, and the bid is what it will go to?
Posted by TruthLiesWithin on :
They haven't even released any new numbers yet...
Oil is how much:)
I am still holding and watching closely...
ENough I had to go out and get a new Blackberry, until the new Iphone comes out next week so I can monitor while away.
Posted by greenteam13 on :
Yea, I've decided to do the same instead of taking profits yet...this is still going to go up
Posted by juice on :
quote:Originally posted by greenteam13: Yah that's how I feel! I have Scottrade...so the ask is what it's at, and the bid is what it will go to?
bid are people wanting to buy at that price, ask are people willing to sell at that price.
example: lets say im a buyer and put my order in at 68 and your a seller at 69. That means bid x ask would be 68x69.
If no one is selling to me at .68, I move my bid to 69 and lets say my order is larger then the amount of shares you have for sale, the bid upticks to 69, my order is partially filled and I wait for someone to sell me the rest at .69. Now we're at .69x.70. If no one sells me the rest im forced to smack .70 for some shares now.
What moves a stock is good bid support with each new uptick so people are forced to "slap that ask" for shares because the amount of shares being sold is less then shares being bought.
Today was a perfect example of that, everyone holding TIGHT!
go NCEY Posted by TruthLiesWithin on :
Juice, I wonder if the company is interested in releasing June numbers.
Considering they did it for last April.
I think this volume was an indication of something coming out, maybe this week.
That is a huge pop right there. I imagine many sold some, but yet any drop was uneffected.
This thing is a monster!!
Posted by juice on :
could be, i look forward to 2nd qtr fins in august, and yes this is a MONSTER! but we haven't seen anything yet imo. :0!!
Posted by greenteam13 on :
Awesome explanation thank you Juice...I look like an idiot, but I'm just learning and that was very helpful...and yes this thing is a beast! A beast that we're going to keep riding!
Posted by TruthLiesWithin on :
I just thought there might be some update on the new wells they were adding..
Based on the first quarter. 50,387 barrels or about 420 BOPD.... plus 144MMCF gas got them nearly $6 million revs for the quarter.
If they are pumping 750BOPD, at $120 average, oil alone could put them over $10 million this quarter, and I didn't figure gas either.
I'm just looking forward to the new wells being finished at the end of JUNE like they said. Maybe then we will get an idea for capacity.
Posted by juice on :
Truth-
There very well could be at any time and it would be nice to see those numbers. I do believe rev's for 2nd qtr will show at least 100% increase from qtr 1. thats insane! Your 10M+ figure should be right on:)
Man when August hits this is good for 2-3 bucks imo.
Also, check out the new thread for Universal Energy on the .10 and under. Let me know what you think.... obviously not as cut and dry as NCEY is, but I believe we could see some nice gains there pretty soon..
Posted by juice on :
good buying opportunity!
Posted by juice on :
wow BEAST right back to .67 holy crap
Posted by juice on :
wow wish I got more shares then I did at .56 Posted by greenteam13 on :
Definetly a good buying day...I picked some up yesterday though...First day I've seen the BEAST go down since I bought in...I don't know how to handle this...jk...good for the chart
Posted by juice on :
yep popped right back, looking like it wants to close green. nuts!
rumors of news floating around too... if anything comes out tomorrow this will blow past a buck in a hot minute.
Posted by greenteam13 on :
This is why we are referring to NCEY as the BEAST! I wouldn't mind some good news from NCEY to send it in to orbit. Good stuff here Juice.
Posted by juice on :
Green- .65 close ill take it! great day!
Posted by greenteam13 on :
Definetly! Good little rebound from what it could've been...great work getting more at .56...nice low to grab some profit on a red day...I'm thinking we'll get back in the green tommorrow.
Posted by greenteam13 on :
.52 what's going on here?....
Posted by juice on :
healthy consolidation.. people jumping on other stocks like UVSE and HTOG, both dilluting like crazy. we have a real winner here, no worries bro:)
Posted by greenteam13 on :
I agree. I'm holding and watching...I can't take much more dropping tho.
Posted by juice on :
don't sell bro!! i was here since .076, my first buy. its done this a few times. this gave back over 50% from .34 to .12 i remember and people were bailing. We could see .40 tomorrow, but i will be sucking up as much as I can.
Remember NCEY has something that the others that are being chased DO NOT HAVE:
Still holding a bunch, looking for more to get into....
Posted by greenteam13 on :
I hear ya man...it's just scaring me that's all...i know how pennies can be...but everything's adding up here no way it can take the big plunge.
Posted by greenteam13 on :
When can you tell what this will open at tommorrow?
Posted by juice on :
OIL tops 145.00 today wow! NCEY making LOOT! Posted by juice on :
Oil soars past 145 dollars for first time
Jul 3 12:24 AM US/Eastern
Oil surged past 145 dollars per barrel for the first time Thursday as the weak US dollar and Middle East tension stoked black gold's record-breaking run, analysts said. Brent North Sea crude for August delivery hit 145.11 dollars in early Asian trade, before easing back to 144.90 dollars. It had settled at a record 144.26 in London on Wednesday after breaking 144 dollars for the first time.
New York's benchmark contract, light sweet crude for August delivery, hit an intra-day record price of 144.44 dollars. By late morning the contract was 70 cents higher at 144.27 against a record close of 143.57 in the US on Wednesday.
The latest surge followed a warning from Iranian Oil Minister Gholam Hossein Nozari that his country, a key crude producer, would react fiercely to any attack against it.
"Iran, if there were any kind of activity of any sort, is not going to be quiet and would react fiercely," he told reporters on the sidelines of the World Petroleum Congress in Madrid.
He said oil prices, which have been driven to record levels partly because of fears about the loss of Iran's oil output, would rise radically if Israel or the United States launched a military strike.
"That's the kind of talk that kind of juices the market," said Jason Feer, vice president and general manager, Asia Pacific, for energy market analysts Argus Media Ltd. in Singapore.
Western powers and Iran have been engaged in long-running efforts to resolve a stalemate over Iran's nuclear enrichment programme, which the West fears could be used to make an atomic bomb.
Iran, the world's fourth largest oil producer, says its nuclear programme is for peaceful purposes.
The Iranian tensions, along with unrest which has cut output in key African producer Nigeria, and the weaker US currency were among factors combining to push prices higher, Feer said.
"It's the ongoing perfect storm, basically," he said.
The dollar slumped to a two-month low against the euro on Wednesday and held steady in Asian trade on Thursday. A weaker dollar makes commodities like oil denominated in the greenback more affordable for buyers with stronger currencies.
Phil Flynn at Alaron Trading said oil continued to gain momentum amid worries about the global economy, the dollar and other ills.
"Oil is a proxy for everything and an accurate reflection of our deep-seated fears and all of our insecurities," Flynn said during US trading hours.
Feer said the latest report released Wednesday by the US Energy Information Administration pointed to fairly weak demand in the United States, even though the traditional North American holiday motoring season is at its peak.
The report said stockpiles of crude had fallen by 2.0 million barrels in the week to June 27, while petrol stocks grew, Feer said.
OPEC secretary general Abdallah el-Badri said in an interview published Wednesday that US authorities should stop "harassing" members of the Organisation of the Petroleum Exporting Countries (OPEC) cartel.
He argued that sky-high oil prices were not due to "the myth" of the lack of supplies -- as Western nations contend -- but to speculation sparked by a crisis in the US subprime mortgage sector.
Global oil prices have doubled in the past year and have risen by 45 percent since the start of 2008, when they breached 100 dollars for the first time, triggering fears over inflation and slower economic growth.
Protests against the soaring prices have also broken out around the world.
"I think it's becoming fairly clear that the only thing that's going to bring prices down is significant decline in demand growth in the Asia Pacific," Feer said.
Copyright AFP 2008, AFP stories and photos shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium
Posted by juice on :
ill be buying today! got my bids lined up. GL people, expecting a nice dip!!
Posted by juice on :
STRONG.
Posted by juice on :
.56... man i only got a few at .47 and .48... grrrr
Posted by greenteam13 on :
yup i got out at .47..dumb
Posted by juice on :
NO GREEN!! told ya not too!
this WILL be dollars in a few months. im convinced...
Posted by tomah on :
Thanks for the information on this. I did manage to get some today at .47, not as much as I had hoped, though. Well, Monday is another day!
Posted by greenteam13 on :
I'm gettin back in on Monday! There's nothing that compares to ncey...nothing!
Posted by juice on :
.61 lots of buying wow
Posted by greenteam13 on :
got back in this morning at .59..ready to ride the BEAST! Any new news/opinions juice?
Posted by juice on :
green, nice! and you should know my opinion by now:)
Dollarsssssss coming. ive been saying 2-3.00 from day 1. WAY too much going on here and coming down the pipe the next few months. The market is slowly finding our gem-this has the potential to be best oil/gas play of 2008 imo. I say we rival that of MXC/PDO. (not that we haven't already--- .06-.70)
SWEET EASY $$$$$$$$$$ here!!!
GL
Posted by TruthLiesWithin on :
Strong company here
No problem buying on dips I don't even need to pay attention to it
Posted by greenteam13 on :
Good day again today back up to .65!
Posted by juice on :
watch for .70 break!! then clear sailing!!!!!!!!!
Posted by juice on :
.71 BOOM!!!!!!!!!!!!!
Posted by juice on :
8k filed...
Posted by tomah on :
Whoa - that was a scary plunge! LOL
Posted by plcp on :
quote:Originally posted by juice: 8k filed...
Anything negative?
Posted by juice on :
only good part--> 8-Jul-2008 Triggering Events That Accelerate or Increase a Direct Financial Obligation
Item 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement. On June 30, 2008, certain obligations of New Century Energy Corp. (the "Company," "we," and "us") owed to Laurus Master Fund, Ltd. and its assigns and agents ("Laurus"), including a Secured Convertible Term Note entered into on June 30, 2005, in the original principal amount of $15,000,000, which had an outstanding balance (not including any accrued and unpaid interest) of approximately $12,000,000 as of March 31, 2008 (as amended and restated from time to time, the "Convertible Note") and a Secured Term Note entered into on September 19, 2005, in the original principal amount of $9,500,000, which had a balance of approximately $6,351,391 as of March 31, 2008 (as amended and restated from time to time, the "Term Note") became due. The Company failed to repay the outstanding amounts of the Convertible Note and the Term Note (the "Notes") on June 30, 2008.
Pursuant to the terms of the Notes, the Company had three (3) days to cure any default in repayment of the Notes, which cure period expired July 3, 2008, and which Notes remain unpaid as of the date of this filing. As such, the Company is currently in default of the Notes, which default may trigger an event of default and default payments equal to an additional 30% of any amounts due (the "Default Payments") under the other outstanding promissory notes, warrants, options and other related agreements which the Company has previously entered into with Laurus and parties affiliated with Laurus (the "Laurus Agreements").
Payment Default Notice and Short -Term Forbearance Agreement
On or around July 7, 2008, Laurus communicated notice of the Company's event of default under the Notes, alleged event of default under the other Laurus Agreements, and the fact that the Laurus Agreements began to accrue interest at the default rate (as provided in each Laurus Agreement) beginning on July 3, 2008, to the Company.
Laurus also agreed to forbear from exercising its rights and remedies (other than the implementation of the increased rates of interest and the requirement that the Company pay Default Payments) under the Laurus Agreements until 5:00 PM (New York time) on July 18, 2008 (the "Forbearance Period"), or such later time as Laurus may agree in its sole discretion. Laurus did not agree to forbear from administering the credit facility and/or from collecting, receiving and/or applying proceeds from the Company's accounts receivable to the amounts owed to Laurus. The notice also stated that in the event the Company is able to repay the amounts owing to Laurus and under the Laurus Agreements prior to the end of the Forbearance Period, Laurus would waive any default interest and the requirement that the Company pay the Default Payments. The above terms are not binding on Laurus in the event that an event of default has occurred under the notice, including if an event of default other than those described above have occurred under any Laurus Agreement, if any representation made by the Company under any Laurus Agreement was false in any material respect when made, the Company's failure to comply with any covenant in any Laurus Agreement, and/or if any person or entity other than Laurus exercises any rights to remedies against any of our assets or properties.
The Company is actively seeking alternative financing and is currently in ongoing discussions with Laurus regarding the entry into a separate forbearance agreement (the "Forbearance Agreement") pursuant to which the Company plans to seek to stay Laurus' enforcement of the defaults and provide the Company sufficient additional time (approximately sixty (60) additional days from the end of the Forbearance Period) to either (a) refinance amounts due to Laurus; or (b) restructure its currently outstanding liabilities with Laurus through the entry into new notes with Laurus. The Company is also in discussions with various third parties regarding alternative financing for the Company.
The Company can provide no assurances that it will have sufficient funds to repay the amounts due under the Laurus Agreements, following the Forbearance Period or during the term of any Forbearance Agreement, assuming one is entered into; and/or that the Company will be able to obtain any additional third party financing to repay its current obligations owed to Laurus and its affiliated parties. In the event the Company is unable to stay the payment of the Laurus debt beyond the Forbearance Period and/or obtain alternative financing, the Company could be forced to abandon its current business activities, sell or transfer a substantial portion of its assets to Laurus, Laurus could take control of substantially all of the Company's assets and/or the Company could be forced to declare bankruptcy.
Posted by tomah on :
Oh, oh - this sounds bad. I kept checking for news - but still haven't found what you posted. Up to .74 today and plunge right into the potty! I can't get out right now - guess I will keep my fingers crossed that something happens.
Posted by plcp on :
quote:Originally posted by tomah: Juice - could you explain this to me in language that I can understand, please?? Good or bad? It sounds "not so good".
Not an expert here, but seems like the company failed to make debt payments, and now they are buying time to find the $$$ to make the payments.
Everyone is jumping ship here. This is awful. Posted by plcp on :
quote:Originally posted by plcp:
quote:Originally posted by tomah: Juice - could you explain this to me in language that I can understand, please?? Good or bad? It sounds "not so good".
Not an expert here, but seems like the company failed to make debt payments, and now they are buying time to find the $$$ to make the payments.
Everyone is jumping ship here. This is awful.
I should clarify that my "awful" comment above is aimed at the panic-stricken sellers.
Honestly, the news doesn't seem too scary to me. But the sellers' reactions do. Once they calm down, I think this will rebound as it should. I just wish I would have sold earlier this morning. I'd love to buy back in at this price.
Posted by juice on :
its really not that bad imo. just shows that they are exploring options, and they will roll over balloon payments just like they have in the past. people dont read!! they trade on emotion. remember traders were buying this in the .70s this AM LOL sucks:(
Im buying all i can here
Posted by tomah on :
Are you getting out, Juice? I can't get out right now - way too big of a loss - guess I will just keep my fingers crossed that something happens. I still can't find the news that you reported. Big jump to .74 then toilet time! Posted by plcp on :
quote:Originally posted by tomah: I still can't find the news that you reported.
tomah i sold at .65 my bad everyone is pming me all over. but i just bought 45k between .30 and .40 if that makes you feel any better lol
if people would just stop trading on emotion and read there are OTHER 8ks in the past LOL ...
imo nothing has changed here.
Posted by juice on :
wait for the dust to settle, and load up before august. that is the plan. Goodluck!
Posted by PCola77 on :
juice, you don't need level 2 to see bid and ask. Level 2 shows you everything beyond bid/ask, like what the next highest bid and lowest ask are, and how many MMs are at each price, but bid/ask is displayed by every broker.
quote:Originally posted by juice: you need Level 2 to see bid x ask. Ameritrade has free level 2 for stocks if you have an account, as do other brokers.. who do you use? without L2 i feel like im lost!
Posted by greenteam13 on :
wow...I don't know what to do...just got home...wasn't here to sell quick enough...try and hold on? I don't even know?
Posted by juice on :
PCOLA, very true- but ameritrade has always displayed NCEY bidxask all messed up, unless you watch the L2.... been that way for a while. I've called them too, haven't fixed it. Posted by PCola77 on :
Just remember that this is penny-land. Never believe what you read. I remember PGPM had "Proved reserves" of like 400million barrels, and DIGG I think was like 1.1BILLION barrels. Both are now trading under a penny.
Mayeb this one runs again, and maybe they really do have enough oil to make it to multiple dollars, but when a stock is already up 2,000%+ in a month or so, you can't realistically expect it to keep going up at that pace.
I'm not up for reading through this whole thread, but maybe one of you would be kind enough to giev me a brief synopsis of what happened in the last 2 months to increase the company's value twenty-fold. Did they just find all this oil? Something else happen? I'm curious now.
Posted by juice on :
oh you have some catching up to do PCola!! Posted by tomah on :
Well, I've got an order in to buy on the dip. That way - it makes my cost average lower LOL. Guess I just paniked for a minute. But, I look at it this way --- no risk, no gain. I'm hanging in there - I believe in this company. Thanks for the pep talk, Juice!!! Posted by PCola77 on :
Guess I'm just a skeptic, but if the company was really worth multiple dolalrs per share, people a lot smarter than you or I would have already gotten it to that point. In other words, if a NYSE company closes today at $10 per share and accepts a buyout after the market closes for $15 per share, it opens pretty darn close to $15 per share (with some variance due to people think ing the buyout will fall through, or the offer will be raised). Down here in penny land we're a bit slower, but why in the world would it take months for the "real" value to be priced in, unless you know of more news taht will be coming out. My only point is that logic dictates taht it is much more likely that this run is more due to buyers and the low float than it is to actual company value, and that everyone should play this carefully, and no different from any other penny stock. Remember, everyone's stock is "the one that's different from the other penny stocks", and yet invariably, all penny stocks end up being the same...
Posted by juice on :
tomah- sometimes this is how it goes. seriously people DO NOT take the time to read. that is how we found this at .06 just sitting there...
Laurus is doing nothing harmful, just excercising rights. This is standard, nothing has changed, but with this filing people freak, bashers come out, price tanks. gotta love penny land! lol
Posted by juice on :
quote:Originally posted by PCola77: Guess I'm just a skeptic, but if the company was really worth multiple dolalrs per share, people a lot smarter than you or I would have already gotten it to that point. In other words, if a NYSE company closes today at $10 per share and accepts a buyout after the market closes for $15 per share, it opens pretty darn close to $15 per share (with some variance due to people think ing the buyout will fall through, or the offer will be raised). Down here in penny land we're a bit slower, but why in the world would it take months for the "real" value to be priced in, unless you know of more news taht will be coming out. My only point is that logic dictates taht it is much more likely that this run is more due to buyers and the low float than it is to actual company value, and that everyone should play this carefully, and no different from any other penny stock. Remember, everyone's stock is "the one that's different from the other penny stocks", and yet invariably, all penny stocks end up being the same...
excellent advice, I agree. Only thing worrying people here is the debt since day one.
Otherwise- NCEY has 1.6Million barrels proven reserves, thats over 200Mill in reserves at current prices. They are putting more wells online all the time, they have not diluted a single share in over 1.5 yrs, and they have hinted at plans for the amex. I've spoke to DeStefano myself and I believe in this company based on my conversationns and have read EVERY filing.
Also, see back for my comparisons. NCEY's revenue tops that of amex stocks. Its just the debt- and Stefano has told me and others they are executing plans and in talks with setting up financing and will take care of it. (hint read that part of the 8k, it is NEWWWWW)
SO, I tried to beat the rush, found this at .076, my first buy. I still say dollars and I say revenue (10M+ easy) in August will bring us wayyyyyyyyy higher. This is just a little set back.
Also, be prepared to see another sell off when Q is not filed on time.. People would know that if they read every filing, thats how they've always done things...
anyway .085-.70 is one hell of a ride, hope people grabbed some profits! I'm ready to ride again...
Posted by PCola77 on :
Well I hope it runs again for all of you, but I've seen too many companies with "proven reserves" that somehow never materialized into "actual oil". And I still don't buy that "we" (meaning Allstocks posters and message board posters in general) know how much this is really worth and the guys with the big money and the resources to devote people to look at stocks full time haven't yet found it out. Then again, it's happened before, but I remain skeptical.
Posted by PCola77 on :
And in the mean time, it's up 10% (from .29 to .32) since I started looking, so maybe i should just shut up and buy, instead of actually trying to figure out what the price *should* be...
nah, can't go against my trading rules. Again, good luck to you all though.
Posted by juice on :
wish i could pm you more info, but my pm's are disabled on here!! grrrrrrrr these reserves, wells, permits, are all public info and have all been confirmed aside from the above link:) come to ihub, im stocksablaze...
Posted by TruthLiesWithin on :
It will bounce back
They have been allowed to rollover debt already So this is nothing new
Posted by greenteam13 on :
boy I hope so truth! Did you stay in? I believe it will bounce back too...but I also have to admit that I am a little bit scared...it could just drop to a pink-sheeter can't it?
Posted by TruthLiesWithin on :
I don't think it will be sub penny again, but tomorrow, the fence sitters will decide whether to dump or stay.
It was obvious the weak ran from this fast.
I think NCEY should sell some shares, pay the immediate debt, and get it over with, they have much more value in reserves, according to the filings.
As long as the price stays propped at this level, I think it could be done with little impact.
Or find an investor who realizes they have more in theg round than in their pocket.
What's the total debt?
$14,000,000??
I'm sure Laurus will let them make part of the payment, to keep things going?? Not sure, but if NCEY is as good as it looked to us, hopefully an investor with deeper pockets will see it too.
Ironically, i think the assets were worth 15 million.
Imagine giving up a company that has 15 million in assets, but 200 million in the ground...
Posted by greenteam13 on :
So you're saying it's kind of riding on what the fence sitters decide to do tommorrow? (Or that has a significant impact?)
Posted by greenteam13 on :
Really need this to bounce back today into the .40's to break even...
Posted by TruthLiesWithin on :
I think you will see some sell first thing this morning.
But even after the drop, the pps looked to flatten out, meaning many were probably still holding and waiting.
If it opens higher, some will sell into that higher open.
If it steadily ticks downward, I don't know where it would stop.
Posted by tomah on :
We need a fainting instant graemlins.LOL Good luck to us all!!!
Posted by juice on :
well i filed .17s today. i couldn't believe it!people really got scared, and yahoo msg board says bankrupcy.. makes me crack up. That means NCEY has been bankrupt for the last 26 yrs! Posted by tomah on :
do you have a link for the yahoo board? I would love to see what they are saying. I think we are doing OKAY this morning - it could have been worse.
Still hanging in there --- hopefully, we will be the ones laughing in August.
Posted by greenteam13 on :
Not a total sell-off i guess today...there could be some light at the end of this toilet tunnel...I'm still holding as well Tomah.
Posted by TruthLiesWithin on :
The fence sitters sold first thing...
Ran back up from people getting back in...or adding to position.
Faded back down as people sold to make some money back.
Then flattened out.
I expect a repeat of this for the next couple days.
Posted by greenteam13 on :
Well all I can do is stay in now and hope for a run sometime.
Posted by juice on :
Well green, i think we will be ok. I'm off to greece for the next few weeks on pleasure so I am not going to think about NCEY at all. I'm leaving what I have in NCEY thru august. Call me crazy but I'm still confident enough after doing all my reading dd etc.
Remember, all this information was in the prior Q's..Apparently everyone who sold forgot to read it before they invested!!
Laurus has rolled the balloon payments over before. This is all new to ones that can not read or take the time to- and thats why the run was not sustained.
Now that this news is "public" per say, not that it wasn't, (but you get what im saying), we should see a move as news is released and a resolution is reached just as before.
Its also important to note that the CEO has not sold a single share through all this. You'd think at .70 his 37M shares or so looked pretty good. To think he lost millions in a few days. Ever think he doesn't mind all that much because he knows where this will end up?
Just think of the Bear Sterns guys selling the crap out of the stock prior to the debacle. crazy, i don't see that happening here whatsoever.
This is a small company that is benefiting directly from the oil/nat gas prices, and will surprise many folks in the coming months. Thats the bottomline.
So, goodluck everyone, sorry about the freefall, didn't really suspect it would get this bad, but it depends on how you look at it. It's not over:) When I return I want to see this in DOLLAR land! LOL
all the best,
Juice
Posted by tomah on :
Juice - hope you have a wonderful trip. You are the voice of reason in a sea of penny turmoil. I, for one, am holding. NCEY is going to be a winter family vacation money LOL!!!
Posted by juice on :
Thanks Tomah, I leave Sat morning, but tomorrow I will be in and out. SOOO psyched. The penny market alwasy risky, then again most of the market has been terrible lately. I try my best to tell people to get in and out... When I saw this I knew it was good for at least .50, but my target is dollar land. I have secured profits, many should do the same because of course we never know:). Hope we get there!
Posted by greenteam13 on :
Not bad today...steady climb...what volume there was seemed to be buyers...taking it day by day here. Like you said Juice there were people buying at .74...just a set back here.
Posted by greenteam13 on :
.31 Close.
Posted by juice on :
Ok im done, off to vacation! Goodluck on NCEY ya'll!! keep her going for me!
Posted by greenteam13 on :
LOD .25...dust is settling, dust is settling...we got this on lock-down juice...no worries...
Posted by greenteam13 on :
.28 close...not bad
Posted by tomah on :
See, Green - it's going to come back. May not get to the $2.00 we were hoping for in August - but I think it will eventually get back near $.70. We just have to hang in there. Seems like I sat and watched the scrolling quotes all day on Friday LOL!
Posted by pennydewd on :
i'm still going with juice on this--got a cpl grand in it to play with--just holding tight
Posted by greenteam13 on :
DId you just get in Pennydewd? or have you been in for a while?
Posted by alchemist on :
Doubled my shares to average down last week,wish Id waited.But hey I like this stock.I think this company will make it.Im just waiting on more good news anybody have any.
Posted by tomah on :
Well, today didn't look like a good day - but I'm still holding on, too.
Posted by greenteam13 on :
.085....is anyone still hanging on...this is pitiful...
Posted by juice on :
ouch. just back from vaca... not happy to see this. NCEY is right back to where i called it the first time. o well- nothing gained nothing lost.
really had high hopes for this. looks like the debt really killed this for now.
only hope is some type of financing or negotiation to pull NCEY out of this mess.
holding 55k. do or die:)
Posted by tomah on :
I'm still holding on. If I sell now, I will lose too much - if it totally tanks, I will have only lost $2,000 more - so I decided to take a wait and see attitude. It is scary, though.
Posted by greenteam13 on :
I am on the same page as you tomah...sitting and waiting...what could the numbers in August do to this iyo Juice?
Posted by juice on :
we're done. bankrupcy filing... sorry guys. so sick over this. i need a longer vacation.
Posted by tomah on :
I'm sick, too. But it's not over yet - they filed for Chapter 11, which is common among companies. Their loan holder was pushing for the entire debt to be paid, and I'm sure NCEY said, "fine, we will let a judge figure this out". Hopefully, they can find some finanacing somewhere - they are going to restructure. Might as well keep holding on - if I'm going to go down with the ship - at least I want to get wet!!!
Posted by juice on :
I just dont get it man. oil out the butt, run to .75 from .05.. ceo sells 0 shares during the run, which would have been a great move considering debt to sell some, they put out good news, act like debt was no issue, and now 3 8ks and we are under .03.
im with you tomah, we may drown... lol Posted by Happy Valley on :
Damn bro, sorry to see this today...Hope you guys get it all back on the next one...GLTYA
Posted by juice on :
quote:Originally posted by greenteam13: I am on the same page as you tomah...sitting and waiting...what could the numbers in August do to this iyo Juice?
only hope for ncey now is to show they are still making $$ and those numbers should be great. i know for a fact they pumped more oil in may then ever before- 24k barrels. operationally thats awesome compared to the rest of the small oil guys we found.. if they can show this, hopefully some alternative financing could come- but who knows.
it makes me sick to look at this so i won't anymore. just gonna leave what little i have left in ncey and move on. sorry if any of you lost your shirt, hope you didn't. and if some of you played it right you made a fortune, hats off to you.
thought we found "the one".... a month ago it was game time. but the good news is, theres always another stock:)so lets find it!!
Posted by tomah on :
Does anyone know why the symbol changed today? It is now NCEYQ.
Posted by SoAngel on :
They add a Q when a company is going through a bankruptcy stage.
Thank you - I just HATE it when I show my stupidity! I'm new to all of this Posted by TruthLiesWithin on :
Chapter 11 to me sounds like they don't want to hand Over all their properties
I think it's worth more so why give up the land
Hopefully they can work this out
Backburner for now
Posted by alchemist on :
Hey,chap 11 isnt that bad,it will allow for changes.As long as the stock is not zeroed out we will be ok.The stock is trading higher today than Friday. Another note look at GCOG they are part of this also.Take a look at all the addresses and phone numbers there the same office in Houston.I dont have any links handy but if you read back on this forum you can find them as a subsidiary who the land is owned out right through. This isnt over yet.Im still holding.... Posted by eimajnme on :
Well, I am in NCEY for a bit--around .1483/share Anyone have any ideas on how long the bankruptcy could be lasting? I would think that they would prefer to resume operations ASAP if that is going to be possible. I am having trouble finding info about any of this on the net. I agree with the comment made previously about going down with the ship and at least getting wet! SPLASH! I'm in for the long haul I suppose! I am dying to find out what will be happening!
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have a good night!
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but the good news is, theres always another stock:)so lets find it!!