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Powder River Announces $250 Million Marketing Agreement
CALGARY, Alberta, Nov 17, 2005 (BUSINESS WIRE) -- Powder River Basin Gas Corp. (OTCBB: PRVB) a revenue generating producer and acquirer of crude oil and natural gas, is pleased to announce it has entered into an extended marketing agreement with an Asian Financial Group. This guarantees to provide $250 million over five years, in purchases of working interests in oil and gas properties. This agreement provides an option of an additional 10 years, breaking down to two five year terms of $250 million each.
The long term agreement was entered into predicated on the tremendous success of the strategic acquisition and marketing program brought to Powder River Basin Gas Corp. with the new management in January of 2004.
This extended agreement will allow Powder River Basin Gas Corp. to negotiate larger acquisitions and provide the capital necessary to develop the projects and to maximize production without debt financing.
It also provides the Asian Financial Group with a steady cash flow stream for the economic life of each project.
"I was honored to celebrate the third anniversary of the program with our many friends and associates in Asia, and am humbled by the excitement and enthusiasm created by the program's success. It is with this same enthusiasm that I look forward to expanding the operations of Powder River Basin Gas Corp. beyond the success the Company enjoys today," stated CEO Brian Fox.
Powder River Basin Gas Corp. is active in production and acquisition of crude oil and natural gas.
Powder River Basin Gas Corp. trades on the OTCBB under the symbol PRVB.
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Powder River Announces Revenues Over $6 Million-First Quarter Earnings Tuesday May 16, 2:07 pm ET
CALGARY, ALBERTA--(MARKET WIRE)--May 16, 2006 -- Powder River Basin Gas Corp. (OTC BB:PRVB.OB - News), a revenue generating producer, acquirer and marketer of crude oil and natural gas properties, today announced the results of the first quarter earnings for 2006.
For the three months ended March 31, 2006 the Company reported oil and gas sales of $239,280 as compared to $76,221 for the first quarter of 2005. This represents an increase of $163,059 or 213%.
Total revenues for the first quarter ended March 31, 2006 were $6,039,280 as compared to $1,951,221 for the first quarter of 2005. This is an increase of $4,088,059 or 209%.
Net income before taxes for the first quarter is $4,483,690 as compared to $1,472,006 for the first quarter of 2005. This is an increase of $3,011,604 or 204%.
Powder River reported total expenses for production and marketing of $1,554,183 as compared to $379,909 for the first quarter of 2005. The increase in expenses is directly attributed to the increase and expansion of the Company's operations.
"We are extremely excited with the growth of Powder River Basin Gas Corp. and the first quarter earnings, which surpassed the earnings for the year 2005. We will continue our aggressive development and marketing program, and look forward to maintaining our record setting earnings for the rest of the year," stated Powder River Basin Gas Corp. CEO Brian Fox.
Powder River Basin Gas Corp. is active in production, acquisition, and marketing of crude oil and natural gas properties.
Powder River Basin Gas Corp. trades on the OTCBB under the symbol PRVB.
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