posted
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
-------------------- The Mad Texan Right now someone has an appointment with the world's worst doctor. Posts: 34 | From: Dallas, Texas | Registered: May 2007
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posted
They won't let me buy any at .29! I have an order for 45,000 shares. Jerks!!
Tex
-------------------- The Mad Texan Right now someone has an appointment with the world's worst doctor. Posts: 34 | From: Dallas, Texas | Registered: May 2007
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posted
little pull back i see... friday profit takers. no worries, have a nice weekend all!! see you next week!!
Posts: 2794 | From: nyc | Registered: Aug 2005
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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
-------------------- The Mad Texan Right now someone has an appointment with the world's worst doctor. Posts: 34 | From: Dallas, Texas | Registered: May 2007
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posted
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
-------------------- The Mad Texan Right now someone has an appointment with the world's worst doctor. Posts: 34 | From: Dallas, Texas | Registered: May 2007
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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.
Posts: 793 | Registered: Aug 2004
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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
-------------------- The Mad Texan Right now someone has an appointment with the world's worst doctor. Posts: 34 | From: Dallas, Texas | Registered: May 2007
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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
-------------------- The Mad Texan Right now someone has an appointment with the world's worst doctor. Posts: 34 | From: Dallas, Texas | Registered: May 2007
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posted
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!!!
Posts: 2794 | From: nyc | Registered: Aug 2005
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posted
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
Posts: 2794 | From: nyc | Registered: Aug 2005
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posted
Just arrived in Miami for a meeting tomorrow.
Still holding all my shares.
Should see some upward movement rest of the week.
MTex
-------------------- The Mad Texan Right now someone has an appointment with the world's worst doctor. Posts: 34 | From: Dallas, Texas | Registered: May 2007
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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.. Posts: 2794 | From: nyc | Registered: Aug 2005
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posted
still bringing us down! volume is light, nothing to worry about. gotta have the stomach to hold this one:)
Posts: 2794 | From: nyc | Registered: Aug 2005
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posted
Don't want to jinx this, but maybe we have hit bottom and North from here. LOL
Mad Texan!
-------------------- The Mad Texan Right now someone has an appointment with the world's worst doctor. Posts: 34 | From: Dallas, Texas | Registered: May 2007
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posted
man if these numbers keep up through the qtr, NCEY gonna have fantastic numbers to report!!
Posts: 2794 | From: nyc | Registered: Aug 2005
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posted
I agree. I need a road trip to Houston and see these guys for myself.
-------------------- The Mad Texan Right now someone has an appointment with the world's worst doctor. Posts: 34 | From: Dallas, Texas | Registered: May 2007
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posted
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
-------------------- The Mad Texan Right now someone has an appointment with the world's worst doctor. Posts: 34 | From: Dallas, Texas | Registered: May 2007
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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
Posts: 2794 | From: nyc | Registered: Aug 2005
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posted
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!!
Posts: 2794 | From: nyc | Registered: Aug 2005
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