posted
Yeah, apparently some PR's just around the corner, it has been getting some attention of late, volume up huge on some days. gl
Posts: 44 | Registered: Feb 2005
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PEXCON, Inc. Acquires Interest in 2,673,445 MCF Natural Gas Well; Cites Five-Year Revenue Target of $1.7M, Updates Prior Acquisitions via COMTEX
March 21, 2005
FORT LAUDERDALE, Fla., Mar 21, 2005 (BUSINESS WIRE) --
PEXCON, Inc. (OTC:PXCN.PK), an oil and gas exploration and development company, is pleased to announce that the company has signed a letter of purchase for working interests in oil and gas projects owned by Cherokee Production Company. Cherokee is a private oil and gas produced based in Goliad, Texas.
PEXCON will be acquiring an interest in the Whatley well. The Whatley is a revenue-producing property with total reserves of 2,673,445 mcf of natural gas. The reserves were cited in a report completed by RW Dirks Petroleum Engineers, an independent consulting firm. PEXCON's revenue projections contained in this release rely on that report, completed January 24, 2005, based on a natural gas price of $6.21/mcf at that time.
Under the terms of the agreement PEXCON will purchase incremental units of the Whatley Well with the initial transaction completed within one week. Initial revenues from the Well will begin at $750 and will increase up to $15,000 monthly as PEXCON purchases additional working interests. Furthermore, PEXCON believes that as a result of recent financing activities, it is reasonable to project that the company will increase its interest in the Whatley to $500,000 within the next two months.
PEXCON has also agreed to drill an offset on the Whatley Well which would increase monthly revenue to $27,000. Provided the company drills the offset and will purchase the maximum interest as offered in the agreement, the Whatley Well will be producing revenue for PEXCON for approximately five years and will offer a total revenue opportunity of more than $1,700,000.
PEXCON calculates a total return on investment in just over 22 months, making this a compelling opportunity for the company and its shareholders. PEXCON and Cherokee Production are currently discussing other opportunities for both companies, including joint ventures and interests in other wells.
PEXCON Chairman Gerald Dunne stated, "In a very short time, PEXCON has made tremendous strides in enacting our business plan. We have strong financing partners who have both a professional and financial incentive to see us succeed. We are happy to be working with Cherokee Production and believe this relationship will be fruitful for both parties."
Cherokee Production President Bill Parmley added, "I am looking forward to working with PEXCON as they bring to us the ability to raise capital and complete several of the projects we have under lease agreements."
PEXCON would also like to update the status of the two prior announced working interests, announced January 3 and January 11, respectively. These transactions were subject to, among other things, due diligence and the availability of financing. Unfortunately, negotiations for these projects were both terminated after it was deemed it was not in the best interest of PEXCON or its shareholders that they proceeded.
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the company. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by Pexcon, Inc. may differ materially from these statements due to a number of factors. Pexcon, Inc. assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions.
SOURCE: PEXCON, Inc.
PEXCON, Inc. Peter McGoldrick, 516-825-6516 Fax: 516-825-2254
Copyright Business Wire 2005
Posts: 352 | Registered: Jan 2005
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If you haven’t heard that oil and gas prices are approaching record levels, put down your mouse, back away from the keyboard and head straight to the eye and ear specialists in your area. Be sure to lock your bike up safely as it would be impossible to own an automobile and not know this.
Today’s featured company, Pexcon, Inc. (Pink Sheets: PXCN), has embarked on an oil-driven business plan that’s clearly trying to minimize the risks inherent. Pexcon, you see, is not just an exploration company. Rather, they are also focused on acquiring interests in oil-rich properties and maximizing their output through a proprietary efficiency model. In fact, they are even assisting other oil & gas company's using the Pexcon system.
With headlines like this one published on Sunday, March 20, could there be a better time to consider oil and gas?
“The average price of a gallon of self-serve, regular gasoline shot up nearly 13 cents over the past two weeks, to a record $2.10, a national survey said Sunday.” source: CNN Money About Pexcon
Pexcon, Inc. ("Pexcon" "PXCN") is an oil and gas exploration and development company and has entered into agreements with several companies to expand and rework existing energy properties and to acquire new revenue producing properties. The Company's aggressive and strong management has secured several credit lines and operating assets to ensure PXCN growth and increased shareholder value. Company management has also developed a strategic marketing plan to capitalize on Pexcon's oil and gas reserves.
Adding Revenues
The Company announced an agreement with Cherokee Production to purchase working interests in the Whatley Well, a natural gas well with reserves of 2,673,445 MCF. This single project is expected to generate $1,700,000 in revenues for the company. (see the News Release below)
Access to Capital
The company has been provided multiple offers for short-term financing based on the strength of its business plan. The company feels it is important to structure a 'shareholder-friendly' package that will reduce or eliminate near-term dilution of its common stock. (see the News Release below)
The Company established a $10 million dollar line of credit from US Euro Securities, Inc., in early February 05. This is not a 'toxic' deal and will result in Pexcon becoming a fully-reporting company. (see the News Release below)
Assets
The company has assets in the working interests of revenue-producing wells, as well as a significant asset in the patents and business of Digital Media Resources which controls their flagship 'Glow-Bench' product, a advertising and marketing device that the company believes is valued at over $350,000. Photos of the 'Glow-Bench' can be viewed (here). Digital Media Resources has a contract to work with EZ Masonry to install digital media products in Home Depot and Loewe's.
Cash Flow and Debt
The company expects to be cash-flow positive and eliminate long-term debt during Q2-2005, which is impressive as Pexcon has only been trading publicly since December 2004.
Pexcon Oil and Gas
How Pexcon plans to grow its' oil & gas reserves and earnings 1.) By offering private placement drilling programs to investors. The company will typically retain 10% to 25% of every well. 2.) By forming strategic alliances with industry partners and getting carried and working interest in the wells 3.) By putting together large blocks of oil & gas properties ($25 million and up) for large pension plans, insurance companies, and institutional investors.
Recent Coverage of Pexcon aa
PEXCON, Inc Acquires Interest In 2,673,445 MCF Natural Gas Well
Pexcon has signed an agreement with Cherokee Production, based in Goliad, Texas, to purchase a working interest in a revenue-producing natural gas well. The agreement will produce revenue for Pexcon for over 5 years!
Natural gas prices have increased nearly 20% since January!
Under the terms of the agreement PEXCON will purchase incremental units of the Whatley Well with the initial transaction completed within one week. Initial revenues from the Well will begin at $750 and will increase up to $15,000 monthly as PEXCON purchases additional working interests. Furtherrmore, PEXCON believes that as a result of recent financing activities, it is reasonable to project that the company will increase its interest in the Whatley to $500,000 within the next two months.
PEXCON has also agreed to drill an offset on the Whatley Well which would increase monthly revenue to $27,000. Provided the company drills the offset and will purchase the maximum interest as offered in the agreement, the Whatley Well will be producing revenue for PEXCON for approximately five years and will offer a total revenue opportunity of more than $1,700,000. To read the entire release and disclaimer, the link is HERE The Pexcon Management Team aaa
Directors and Management Dan Beauchamp - Director and President. Mr. Beauchamp was formerly a Special Agent with the FBI, a Corporate Security Analyst for Continental Oil Company, and a Foreign Assistance Inspector for the U.S. State Department.
Murdock MacGregor - Director. President of Doors, Inc., a company specializing in the distribution of building supplies. He graduated from the University of Ohio.
Jacqueline Parks - Director. Chief Technical Officer and co-founder of Voiceports, Inc. She holds a Masters Degree in mathematics from the University of Colorado.
Michael Shores - Director. President and founder of Texas Prototypes. He is a graduate of the University of Arkansas.
Chairman
Gerald M. Dunne Mr.Dunne, upon graduating University began his career as an analyst at Standard & Poors, Corp. He left this position and joined the Fairfield County Trust Company, Stamford, Connecticut in the trust department as an analyst. He became an independent financial consultant in 1966 and raised venture capital and assisted in the public offerings of many companies.
Investor Relations
Peter McGoldrick - Integrity IR Services
516-825-6516, integrityir@optonline.net
Recent News From Pexcon Press Release Source: PEX
Wednesday March 16, 11:18 am ET
PEXCON, Inc. Announces Shareholder Update
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--March 16, 2005--PEXCON, Inc. (OTC:PXCN.PK - News), an oil and gas exploration and development company, announces various corporate updates.
PEXCON has received a firm offer, in writing, to provide the company short-term financing to accelerate its business plan prior to receipt of the US Euro Securities line. The company has also met with an additional two investment firms interested in providing short-term financing, who may provide PEXCON with additional written offers. The company feels it is important to structure a 'shareholder-friendly' package that will reduce or eliminate near-term dilution of PEXCON common stock. To read the entire release and disclaimer, the link is HERE
PEXCON, Inc. Enters Into Negotiations To Sell Digital Media Resources, Formerly Glow-Bench Systems
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Feb. 22, 2005--PEXCON, Inc. (OTC:PXCN.PK - News) announces that it has entered into negotiations with a publicly traded company to divest its interest in Digital Media Resources, formerly Glow-Bench Systems. PEXCON acquired the assets and operation of Digital Media Resources in December 2004, and is presently a wholly-owned subsidiary of the company.
PEXCON intends to use the proceeds from the sale of Digital Media Resources to fund its ongoing oil and gas operations. PEXCON believes this sale is prudent and aligned with its core interests and continuing efforts to increase shareholder value. PEXCON anticipates closing this transaction by the end of the current quarter. To read the entire release and disclaimer, the link is HERE
PEXCON, Inc and US Euro Securities, Inc Agree to 10 Million Dollar Line FT. LAUDERDALE, Fla.--(BUSINESS WIRE)--Feb. 9, 2005--PEXCON, Inc. (OTC:PXCN.PK - News) an oil and gas exploration company announced that it has been offered a $10 million dollar line from US Euro Securities, Inc. The company plans to use these funds to acquire oil and gas properties. The agreement requires that Pexcon, Inc. become a fully reporting Bulletin Board company.
PEXCON, Inc., President Dan Beauchamp stated "This is a milestone for Pexcon and our shareholders. We look forward to working with a first class organization with the reputation of US Euro Securities and developing PEXCON, Inc. into the type of firm our investors will be proud of." He further commented "The company is focused on fulfilling the terms and conditions related to financing package, which include becoming fully reporting, as quickly as possible". However, this process is estimated to take between four to six months. To read the entire release and disclaimer, the link is HERE
Pexcon, Inc. Retains US Euro Securities, Inc. for Investment Banking Services
GULFPORT, MS--(MARKET WIRE)--Jan 24, 2005 -- Pexcon, Inc. (Other OTC:PXCN.PK - News) an oil and gas exploration and development company has retained US Euro Securities, Inc. for investment banking services. US Euro Securities is a private, global investment bank headquartered in Los Angeles, California that provides global financial solutions. The firm has a team of experienced financial professionals throughout the United States, Europe and Asia and is focused on providing a wide range of financial advisory services, including equity and debt financing, mergers and acquisitions as well as domestic and international business development for a select clientele. To read the entire release and disclaimer, the link is HERE
Financial Highlights For Pexcon
Recent Price: $0.075 52 Wk Hi $0.10 52 Wk Lo $0.001 Outstanding Shares: 57,120,000 as of 2005-03-01
Authorized Shares: 200,000,000 as of 2004-05-13
State of Incorporation: DE Year of Incorporation 2002
Transfer Agent: Holladay Stock Transfer, Scottsdale, AZ 85251
Please note: PXCN is a fairly liquid stock often trading in volumes over 165,000 shares (within the current price range). PXCN's level2 quotes can be viewed, for free, on the pinksheets website : http://www.pinksheets.com/quote/quote.jsp?symbol=PXCN.
To Contact Pexcon
PEXCON, Inc.
Peter McGoldrick, 516-825-6516 Fax: 516-825-2254
1580 Sawgrass Corporate Pkwy., Suite 130, Sunrise, FL 33323 USA
Posts: 352 | Registered: Jan 2005
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this one is ging right now on nice volume OIL and gas play
-------------------- The sun even shines on a dogs ass someday, have patience my friend ur day will come! Posts: 727 | Registered: May 2005
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-------------------- The sun even shines on a dogs ass someday, have patience my friend ur day will come! Posts: 727 | Registered: May 2005
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could see it there again, with all these oil and gas plays going crazy high
-------------------- The sun even shines on a dogs ass someday, have patience my friend ur day will come! Posts: 727 | Registered: May 2005
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Going down, let me guss MM's need you stock.
-------------------- His men would follow him anywhere, if only out of morbid curiosity Posts: 83 | From: brazoria, texas, brazoria | Registered: Dec 2004
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huge buys coming in the volume is huge i dont remmember last when the volume was so big on this and it has room to run at .10 in march
-------------------- The sun even shines on a dogs ass someday, have patience my friend ur day will come! Posts: 727 | Registered: May 2005
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-------------------- The sun even shines on a dogs ass someday, have patience my friend ur day will come! Posts: 727 | Registered: May 2005
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its looking better and better and volume still pouring in with atleast 90% buys
-------------------- The sun even shines on a dogs ass someday, have patience my friend ur day will come! Posts: 727 | Registered: May 2005
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-------------------- The sun even shines on a dogs ass someday, have patience my friend ur day will come! Posts: 727 | Registered: May 2005
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-------------------- The sun even shines on a dogs ass someday, have patience my friend ur day will come! Posts: 727 | Registered: May 2005
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Tekoil & Gas Corporation/PEXCON, Inc. Announces Acquisition Update Friday June 17, 9:15 am ET
THE WOODLANDS, Texas, June 17, 2005 (PRIMEZONE) -- Tekoil & Gas Corporation/PEXCON, Inc. (Other OTC:PXCN.PK - News), an oil and gas exploration and production company, is pleased to announce that Mark Western, Chairman & CEO of Tekoil & Gas Corporation has been appointed Chairman & CEO of PEXCON, Inc. Mr. Western brings 15 years of global E&P experience to PEXCON, and will be leading a highly experienced oil and gas team, focused on the acquisition and development of oil and gas well assets throughout North America. The merger is being completed by Tekoil's legal counsel, and the company is preparing to list PEXCON on the Nasdaq OTC:BB. ADVERTISEMENT
As part of the acquisition, PEXCON, Inc. will change its name to Tekoil & Gas Corporation. The current shareholders of Tekoil will receive restricted shares of PEXCON equal to 83% of the outstanding shares, in exchange for transferring 100% of the shares of Tekoil to PEXCON. Gerald Dunne, the former Chairman of PEXCON, will also receive an additional 7% of the issued and outstanding shares and become a consultant to the company. The appointments of additional board members and Tekoil's executive management team will be announced during the next two weeks. Tekoil is in discussions with several oil and gas acquisition targets, and will issue press releases once formal contracts have been approved by the newly appointed Board of Directors. The company is also engaged in negotiations with an institutional investor concerning a large equity investment, and both parties are engaged in the due diligence process.
About Tekoil & Gas Corporation/PEXCON, Inc.:
Houston based Tekoil & Gas Corporation/PEXCON, Inc., is a technology driven, oil and gas exploration and Production Company that utilizes advanced production technologies. The company is focused on the development, acquisition, stimulation, rehabilitation, and asset improvement of small to medium-sized oil and gas fields throughout the North American Continent. The combination of energy fuel reserves and advanced yield technologies, are anticipated to generate value for Tekoil and its stakeholders, as the company targets above average growth in the 21st century energy sector. Additional news and information will be made available on the new Tekoil website at http://www.tekoil.com, and through further press releases as acquisitions and development projects are executed.
Forward-Looking Statements:
This news release may contain certain forward-looking statements, including declarations regarding Tekoil/PEXCON and its/their subsidiaries' expectations, intentions, strategies and beliefs regarding the future within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements contained herein are based upon information available to Tekoil/PEXCON management as at the date hereof and actual results may vary based upon future events, both within and without the control of Tekoil/PEXCON's management, including risks and uncertainties that could cause actual results to differ materially including, among other things, the impact that additional acquisitions may have on the company and its capital structure, exploration results, market conditions, oil and gas price volatility, uncertainties inherent in oil and gas production operations and estimating reserves, unexpected future capital expenditures, competition, governmental regulations and other factors.
Contact: Tekoil & Gas Corporation Mr. Eric Ottens, COO elect erico@tekoil.com
-------------------- The sun even shines on a dogs ass someday, have patience my friend ur day will come! Posts: 727 | Registered: May 2005
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