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[QUOTE]Originally posted by outwest: [QB] Got this from ***.com. Phoenix Associates Land Syndicate: Constructing Better Living Conditions Posted on Thursday, July 27 * 08:53:23 CDT By Katia Rodriguez COVINGTON, LA (July 27, 2006) -- Phoenix Associates Land Syndicate has announced that it has received an order for 2.5 million cubic yards of material from its Murphy Sand & Gravel mining site in Pearl River, La. The order is to be filled in 35 - 45,000 cubic yard releases that will go to the US Army Corps of Engineers via second level contractors. Paul Alonzo, president and CEO of Phoenix Associates, said, "This is by far the largest single order for product ever received at the MS&G site. We at Phoenix look forward to working with our friends and associates at United Soils, especially Ron Omilian, their president." This material is to be used for the rebuilding of the greater New Orleans area and the Gulf region after the devastations caused by the 2005 hurricane season. Phoenix Associates Land Syndicate (Pink Sheets: PBLS) is a public holding company focusing on the acquisition and development of companies in sand & gravel, soil products, land development, oil and natural gas, commodity brokering, plumbing, trucking, contract hauling, construction, swimming pool construction and construction related industries. The company was founded in 1978 and has 13 locations throughout the United States. It was incorporated to change the location of American Western Resources Inc. headquarters from the Delaware to Nevada. On July 19, Phoenix Associates Land Syndicate applied for and received a drilling permit for a 7,500-ft wildcat well targeting Dakota on the southwestern flank of the Powder River Basin. John Barksdale, president of Rome Oil & Gas, one of Phoenix Associates subsidiaries, said, "We are making progress on our Natrona County, Wyo. lease holdings and while we have not yet set a date to start drilling, we are pleased that we now have the drilling permits in place." Barksdale added, "While we can not yet put hard numbers on the potential for this drilling site, we are encouraged be the success of other drilling that has occurred in close proximity to these leases. As we said in an earlier release, consultants to the company, John J. Wanner C.P.E. and James O. Breene, Jr., geologist, through communication and research, have estimated that our reserves could be in excess of 8,100,000 barrels minimum and 13,100,000 barrels maximum. At $60 per barrel, such reserves could yield a valuation of $486 million minimum and $786 million maximum." Revenues for the full-year 2005 increased to $165,971,862, up strongly from $465,452 in 2004. Alonzo stated, "I am very pleased with the strong growth of our company over the last year. We at Phoenix believe that our business model has made it possible to grow rapidly in 2005 and 2006, and to continue on our path to becoming a much stronger company in the chosen business sectors being pursued. Our philosophy of growth, to buy, buy, buy, and then buy some more, is the philosophy that made it possible for us to grow from under a million in revenues in 2004 to more than $165 million in revenues in 2005. This is terrific growth by any measure." Alonzo added, "Our balance sheet continues to strengthen as a result of the strong operational performances through our assembled companies. Our net cash balances exceeded $6.6 million at the end of 2005, showing a healthy trend." Since the beginning of this year, Phoenix Associates Land Syndicate has completed the acquisition of TCB Properties, U.S. Inc., a Florida corporation, Sam's Oil Country Inspection Services Inc., CM Ideal Energy Services Inc., CM Ideal Energy Directional Drilling Services Inc. and ProGas Inc. of Covington, La., a natural gas and oil marketing company. [/QB][/QUOTE]
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