News for 'CSJJ' - (Coastal Holdings, Inc. Finalizes Purchase Agreement With BDT Energy Producers, Inc. to Acquire Interest in Development Oil Well)
HOUSTON, TX, Oct 07, 2005 (MARKET WIRE via COMTEX) -- Coastal Holdings, Inc. (OTC: CSJJ), today announced that further to the MOU signed on September 27, the Company has finalized a Purchase Agreement with BDT Energy Producers Inc. (BDT) to acquire a working interest in a development oil well. The Purchase Agreement will be signed by both parties following its clearance with their respective legal departments. As per the Purchase Agreement, Coastal Holdings will invest $475,000 in cash to fund the developmental drilling of an oil well that is wholly owned by BDT. In consideration for its investment, Coastal Holdings will receive a 75% working interest in the oil well.
The oil well, designated as NO. 2 HONEY, is located in Jasper County, Illinois. This well will be drilled into the Salem Limestone at a depth of 3350 feet and will be 3/8th of a mile southeast of a well which produced 650 barrels of oil per day (BOPD) from the Salem Limestone. This well, with the many producing zones nearby, is a very conservative drilling venture for oil and gas. It is located in the largest oil field in the State of Illinois and near the crest of the Clay City Anticline, which is the structure responsible for the oil accumulation in the field. With nearby wells producing for 30 years, the NO. 2 HONEY is an excellent opportunity for the production of oil. In addition, with the current price of oil near $60.00 per barrel, the economics of this well is exceptional. Moreover, due to the fact that in this immediate area exists a team of oil producers with over 45 years of experience and with one of the members being a Registered Petroleum Engineer, only enhances the opportunity for success by drilling this well at this location.
About BDT Energy Producers, Inc.
BDT Energy Producers, Inc. (BDT) is a subsidiary of Britton Oil Properties, a well-established 42-year old firm that owns 14 producing oil wells on 480 leased acres in Southern Illinois, approximately 125 miles east of St. Louis, Mo. and 75 miles northwest of Evansville, Indiana. These wells have a total production capacity of 15 BOPD and an accumulated reserve of 330,000 barrels of oil. Since 1976, Britton Oil has sold $3.5 million worth of oil from these wells. BDT has been formed solely for the purpose of developmental drilling of new oil wells and has selected 5 prime drilling locations from Britton Oil Properties that it is now in the process of funding.
For more information please contact CEO Andrea Cortellazzi at (514) 288-9699 or visit the Company website at www.coastalholdings.com.
Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.
Posts: 1086 | Registered: Oct 2005
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AMEP on NG issues and CLBE on new adult stem cell news.CLBE is extremely hard to buy into though and definitely now a flipper,mid to long holder for REAL high profit margin.Remember BIPH at .09? same deal here imo.
UPDA: has been a great gapper past few days. Then it loses its gains then comes right back, but you can difinately play the gaps in the morning this way if the trend continues.. JMHO
Posts: 416 | Registered: Jul 2004
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Thanx Matt for the edit info,I just let to much time elapse now though.
Gappers for open tomorrow.
AMEP in the energy sector fairly easy to buy into and has predictable dips.
CLBE in the biotech sector (very hard to buy this one,very very low OS and float)
I hope very little gap for CLBE personally since shares are hard to get at any ask level as it is and if this gaps I do believe it will stay up.I have a remainder to get that will top off my buy target amount but never the less I am buying on the way up if I have to because I feel I know where this one will eventually be and it won't be anywhere in the pennies imo.I chased BIPH from .09 to the .20's and some in the .30's and happy I did and that was based on the material covering for devices in the med sector and the patent proposal,CLBE not only is dealing with Adult stem cell extraction and research which will eliminate controversy over moral and ethical issues involving embryos but they are involved in and have the ability to be involved in many other avenues of R&D.Did you see the quality of people behind the scenes of CalboTech? even a Nobel prize winner is included not to mention the upmost professional team that any good BioTech company could even wish for.
bit from a PR
Dr. Jason Van Tassel has provided three pieces of stem cell related intellectual property to CalbaTech's wholly owned subsidiary LifeStem, Inc. Earlier this week, LifeStem announced that it is finalizing plans to offer a stem cell collection and storage service in selected markets.
"We're pleased to have the support and contribution of Dr. Van Tassel," said CalbaTech CEO James DeOlden. "All three pieces of intellectual property complement our efforts in the stem cell arena and we're focused on developing them through our stem cell subsidiary LifeStem," Mr. DeOlden added.
The three pieces of intellectual property contributed by Dr. Van Tassel are related to therapeutic uses of autologous adult stem cells, and range from intellectual property related to the banking of stem cells to regeneration of tissue through the use of stem cells The company reported that its outside patent counsel has conducted a preliminary patent review of the concepts and has reported favorable findings to CalbaTech's management. LifeStem, Dr. Van Tassel and outside counsel will work to further refine the intellectual property and expect to file provisional patents with the United States Patent Office.
Dr. Van Tassel previously developed a novel method of injecting stem cells into diseased tissue through the use of a modified endoscope for which the company has filed for patent protection.