By Lisa Sanders, MarketWatch Last Update: 11:10 AM ET May 5, 2005 E-mail it | Print | Discuss | Alert | Reprint | As of May 5, 2005 11:16:00 AM ET DALLAS (MarketWatch) - Oil-service stocks pushed higher Thursday morning as Merrill Lynch said it sees a buying opportunity in the group. Analyst Mark Urness noted that of the 17 oil-service and drilling companies Merrill covers, 14 reported positive earnings surprises and three were in line.
"Even with strong first quarter results and bullish outlooks, oil services stocks have been under pressure," Urness said in a note to clients. "The group is down 7.5% since the end of the first quarter with volatile swings that track directional moves."
Merrill believes that the upcycle in the sector has more to go.
"A key tenet to our investment thesis has been continued growth in upstream capital spending driven by a tight supply-demand balance for oil, higher normalized oil and gas prices and reserve replacement issues at most of the major oil companies," he said.
Urness recommended that investors use the weakness to buy, although he noted that the Philadelphia Oil Service Index (OSX: news, chart, profile) could drop to 125 before it rallies again. The firm's 12-month target for the index is 165.
"We anticipate the current volatility will continue until oil prices find a new normalized level," he said. [ cont, but more of the same]
Looks like a great re-entry point right.....NOW!
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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Looks like this is about as good as it's going to get! Time to jump in and buy up a couple shares. Seems to have alot of support around the .0165ish level.
-------------------- Legal
"I know not with what weapons World War III will be fought, but World War IV will be fought with sticks and stones." -- Albert Einstein
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If this follows it's pattern we should have an up day..Here is more info on TNOG and AQCI--re: agreement to do business when Changes name to Valor Oil and Gas. It is my understanding that this is in the works as we speak.
14A Item 11. Authorization or Issuance of Securities Otherwise Than For Exchange.
(a) The Company intends to amend its Article of Incorporation with respect to the total authorized capital stock as follows:
The total number of shares which the Corporation is authorized to have outstanding is 750 Million (Seven Hundred Fifty Million) Common Shares, with a par value of $0.0001 per share.
(b) The shares of "Common Stock" to be authorized will be identical in rights, privilege and preferences to those shares of the company's common stock already issued and outstanding.
(c) The Company has no current plans to issue any additional shares of stock.
Rochester, NY, May 04, 2005 (M2 PRESSWIRE via COMTEX) -- OTCStockExchange.com's "Stock Watch Alert" this morning are RV Wireless, Inc. (Pink Sheets: RVWS), Titan Oil and Gas, Inc. (Pink Sheets: TNOG), Horizon Offshore, Inc. (Pink Sheets: HOFF), Motion DNA Corporation (Pink Sheets: MTDX).
''We chose Minuteman Support Services because of the increase in issues affecting our customers,'' Jonathan Miller, CEO of Connectifi stated. ''We have seen a drastic increase in the amount of malware/spyware issues coupled with SP2 and other problems relating to PC configurations. Approximately 90% of the calls we take to support our wireless networks are not directly related to wireless configuration. We have seen that number grow from approximately 40% in the previous year. Most of the calls we receive require technical support relating to issues within their PC.'' RV Wireless, Inc. owns 30% of Connectifi, Inc.
Miller went on to say, ''Our typical response to the customer was to take their computer into a local retailer that services computers. We needed to find someone to help our customers without having them uproot their system. Minuteman Support Services is a great choice for us to maintain a healthy relationship with our customer by making sure they are looked after either remotely or in person.''
''Minuteman Support Services is leveraging remote computer support technology to bridge the customer support gap that exists between ISPs and their subscribers. Internet Service Providers have, justifiably, drawn the line when it comes to supporting their subscriber's PC or laptop'', says Dan Barnes, co-founder and COO of Minuteman. ''After speaking with many ISPs in our immediate area, we discovered that spyware is the driving force behind an increase in technical support call volume and subscriber frustration.''
Barnes goes on to say, ''It is estimated that 90% of all residential and small business computers are infected with spyware. Internet subscriber's ability to enjoy the full potential of their high-speed Internet connection is being severely impaired due to spyware infestation. It is only natural that subscribers are turning to their ISPs for support and resolution.
Remote computer support technology and a strong nationwide onsite presence allow Minuteman Support Services to offer a value-added, single-vendor relationship to Internet Service Providers. National, regional and local Internet Service Providers can now take customer support to the next level and start pointing their subscribers down a path to resolution.''
For more information regarding Connectifi, Inc. please go to http://connectifi.com .
For more information regarding RV Wireless, Inc. please go to http://www.rvwifi.com .
For more information regarding Connectifi, Inc.'s RVwifi service please go to http://www.rvwifi.com .
RV Wireless is poised to consolidate the WiFi industry in the valuable niche market of RV Resorts. Seasonal homes to 1 in 7 people over the age 50 -- 10,000 people per day will turn 50 for the next 20 years -- RVers control more than 70% of the assets and disposable income of North Americans. RV wireless is seeking a large customer base through acquisition and organic growth to distribute its unique bundle of communications products. RV Wireless, Inc. owns 30% of Connectifi, Inc. For more information regarding RV Wireless, Inc. please go to http://www.rvwifi.com .
About Connectifi, Inc.
RV Wireless, Inc. owns 30% of Connectifi, Inc. Connectifi, Inc., a Delaware corporation based in Scottsdale, Arizona, is the leading provider of high-speed Internet access through its year-round RVwifi service offered at RV Resorts in the Southwest. RVwifi provides access in 3,400 locations as a member of the Airpath Provider Alliance allowing them to service more than 3 million RVers within a 350 mile radius of its home office. Connectifi, Inc also offers DSL products for residential and business customers, email services and 3400 local dialup access numbers within the US and Canada.
There are 25,000,000 RVers in the US and Canada and there are more than 600 RV resorts in Arizona alone. More than 80 percent of RVers travel with a single computer and over 60 percent have two onboard. For more information regarding Connectifi, Inc. please go to http://connectifi.com .
For more information regarding Connectifi, Inc.'s RVwifi service please go to http://www.rvwifi.com .
About Minuteman Support Services, LLC
It is estimated that 90 percent of all computers are infected with spyware and that small businesses world wide, stand to lose approximately $250 billion in lost productivity due to spyware infections in 2005.
Minuteman Support Services is a privately funded, nationwide computer support company leveraging remote computer support technology to provide professional computer support within the Wifi market. Minuteman Support Services is a full service computer support company specializing in spyware removal and prevention. It is MSS' belief that the solution to the current spyware epidemic rests on the shoulders of every individual who connects a computer to the Internet. Providing the necessary tools, knowledge and training, their customers learn how to prevent, identify and remove future spyware infections.
Titan Oil and Gas, Inc. has entered into an oil and gas operating agreement with Aquatic Cellulose International Corp. (Valor Energy Corp., pending approval of name change).
Titan CEO Kent Jacobson comments: "We recently announced that we had obtained approval in the State of Texas as a licensed and bonded oil and gas operator. We are happy to have so rapidly concluded this new operating agreement. We will actively seek new opportunities as an oil and gas operator to enhance the revenues of our company as we move forward."
Horizon Offshore, Inc. provides marine construction services to the offshore oil and gas industry. The Company operates primarily in the United States Gulf of Mexico and offshore Mexico. In addition, the Company has expanded its operations to Central and South America and Southeast Asia.
Horizon's fleet consists of approximately thirteen vessels, twelve of which are currently operational. The Company claims to also have established a joint venture with Cal Dive, International, to participate in the ultra-deepwater market. The primary services the Company provides include: installing pipelines to transport oil and natural gas; providing pipebury, hook-up and commissioning services; and installing production platforms and other structures and then salvaging them at the end of their life cycles.
Motion DNA Corporation announced that it has signed an agreement with Formula 51-2, LLC for a buyout of all its outstanding shares. The deal with a total value of $74.6 Million will become effective on May 23, 2005, after the company's required shareholder meeting to vote on the issue.
After meeting on Thursday, representatives of both companies agreed upon a price of $3.125 for each share of the company. The final agreement has now been signed and a formal vote on the issue by Motion DNA shareholders is scheduled.
Under Nevada law, the company is required to hold a shareholder meeting to formally vote on the issue. The Board of Directors of Motion DNA has scheduled a shareholders meeting for May 19, 2005. The vote is to be held from 9 am to 4 pm Mountain Standard time. The only agenda item is the opportunity for shareholders to exercise their rights to vote on the matter of share buyout by Formula 51-2, LLC. Each shareholder will be given a confidential login, required to register their votes.
Instructions will be sent via direct mail to the address of record for each shareholder on how and where to call to register their confidential votes. Shareholders will have an opportunity to review the signed agreement prior to their vote.
Recently, Motion DNA has secured contracts with several key clients including Perfect Game USA, the nation's largest baseball scouting services for colleges and professional teams. The company has also finalized contracts with the National Pro FastPitch League, a newly formed league for professional fastpitch softball players and a development partner of Major League Baseball. Motion DNA has also entered into a distribution agreement for a new consumer product, which compliments its portfolio of motion capture systems.
Company officials predict revenues of approximately $8.6 Million in 2005 based largely on the value of existing contracts and its customer and prospects databases. The company's newest product, PureFlight for Baseball, manufactured by Zelocity, Inc., has been well received in the sports market. PureFlight is expected to contribute heavily to the company's revenues in 2005 and 2006. Retail distribution agreements for the PureFlight could significantly increase Motion DNA's distribution of this consumer product, providing the company with exponential growth in revenues.
Company officials are also close to what they feel are several key additional contracts which could push revenues past $15 Million in 2005, leading to a more significant increase in company revenues during the 2006 fiscal year. In 2004, the company took in over $1.4 Million while spending over $700,000 developing new and advanced applications to its software and hardware.
"Our goal is for Motion DNA to reach $100 Million in sales in a relatively short period of time," said Bryan Greenwood, Chief Financial Officer of Motion DNA. "The acquisition by Formula 51-2 provides the company with access to much needed capital required to support some of the proposals under review by potential clients and strategic partners." Currently, the company's financial position allows for slow steady growth. Formula 51-2's plan is to accelerate that growth and turn the company into a major international corporation.
Consistent with the original request from Formula 51-2, the company has not increased the stock into the public market. Currently, the company does not own any shares in the public market and as a part of the agreement, the company will return four million Rule 144 restricted shares to the treasury to reduce the issued and outstanding shares on the books and records of the company prior to the completion of the transaction. All of those shares were held by company executives.
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OTCStockExchange.com (OTCS) based upon information believed to be reliable herein prepared all material. The information contained herein is not guaranteed by OTCS to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. OTCS is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on http://www.otcstockexchange.com or mentioned herein. OTCS has been compensated by third party shareholders or with cash from the company on behalf of one or more of the companies mentioned in this opinion.
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AQUATIC CELLULOSE INTERNATIONAL CORP (AQCI.PK) 2504 43rd Street Suite 5 Vernon, BC V1T 6L1 Phone: 250.558.4216 Fax: 250.558.5470
Aquatic Cellulose International Corp. (Aquatic) is an independent oil and gas investment, development and production company. It is engaged in the acquisition and development of crude oil and natural gas reserves and production principally in the State of Texas of the United States. Aquatic was originally organized as a forest-based company focusing on accessing and recovering submerged timber. In March 2003, new management decided on the new business direction in oil and gas. In March 2004, Aquatic acquired a 20% ownership position and a 16% net revenue interest in the Hamill Lease, a natural gas producing property located in Matagorda County Texas and operated by Century Resources Inc. of Houston Texas. Full Description
Aquatic Cellulose International Corp 2504 43rd Street, Suite 5 Vernon, BC V1T 6 Phone: (250) 558-4216 Fax: (250) 558-5470
DETAILS Index Membership: N/A Sector: Basic Materials Industry: Forestry & Wood Products Employees (last reported count): NaN
REUTERS ABRIDGED BUSINESS SUMMARY Aquatic Cellulose International Corp. (Aquatic) is an independent oil and gas investment, development and production company. It is engaged in the acquisition and development of crude oil and natural gas reserves and production principally in the State of Texas of the United States. Aquatic was originally organized as a forest-based company focusing on accessing and recovering submerged timber. In March 2003, new management decided on the new business direction in oil and gas. In March 2004, Aquatic acquired a 20% ownership position and a 16% net revenue interest in the Hamill Lease, a natural gas producing property located in Matagorda County Texas and operated by Century Resources Inc. of Houston Texas.
Key Statistics More from Reuters Expanded Business Description
COMPANY WEBSITES No websites available for AQCI.PK
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10KSB/A: AQUATIC CELLULOSE INTERNATIONAL CORP 3/18/2005 2:26:55 PM (EDGAR Online via COMTEX) -- ITEM 6. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Plan of Operations
The Company has reorganized its core business, shifting from the underwater wood business to that of investment and development of oil and natural gas. On March 22, 2004, the Company acquired from Century Resources Inc., retroactive to March 1, 2004, a 20 percent ownership position and a 16 percent net revenue interest in the Hamill Lease, a 3,645 acre natural gas producing property located in Matagorda County, Texas. The purchase was made on the basis of the property having existing production and revenues as compared to an exploration property with no production. Thus, the Company agreed to assume an increased percentage of the costs for a lesser percentage of the revenue on a 1/3 to 1/4 ratio, resulting in the 20 percent ownership stake and 16 percent net revenue interest before royalty expense. The companys original plan to acquire Century, a Texas based oil and gas Company, was replaced with this new acquisition agreement which includes an exclusive, optional, New Project and Exploration Drilling Participation agreement with Century. This aspect of the agreement has three successive one-year terms, with the Company holding the exclusive option on each year. (See Note 1 - Notes to the Consolidated Financial Statements)
HAMILL & PRADO PRODUCTION
Beginning June 2004, maintenance work was commenced on the Hamill property, which resulted in 2 additional wells coming into production. These 2 wells added approximately 250 thousand cubic feet of gas per day to over-all lease production. Additionally, maintenance work was performed on the original producing well, which resulted in that well production rising from approximately 700 thousand cubic feet of gas per day to approximately 1.05 million cubic feet of gas per day resulting in a total lease production of approximately 40 million cubic feet of gas per month commencing July 10, 2004, an overall increase of 15.5 million cubic feet of gas over previously reported numbers.
Currently the Prado Field is producing approximately 900 barrels of oil per month from 2 of the 20 existing wells. The Company is currently waiting on the completion of detailed evaluation of 3D seismic and other site engineering data, for both Hamill and Prado, that will further define the reserve potential, as well as future development costs.
The short-term objectives of Aquatic are to achieve growth of both oil and natural gas reserves and revenue by pursuing the following:
1) Development of its current working interest in the Hamill & Prado Leases in Matagorda County and Jim Hogg County, Texas respectively.
- 10 -
2) Completing the acquisition and development of other property and working interest opportunities with proven reserve potential, made known to the Company through its New Project and Exploration Drilling Participation agreement with Century.
Aquatic's long-term objectives are as follows:
Invest in new oil and gas properties, combined with balanced development of drilling and exploitation of current reserves. The company has several exclusive opportunities, available to it through its New Project and Exploration Drilling Participation agreement with Century, to acquire both oil and gas property interests and development drilling interests.
Over the next twelve months, management is confident that sufficient working capital will be obtained from a combination of revenues and external financing to meet the Company's liabilities and commitments as they become payable (See Notes 2 & 11 - Notes to Consolidated Financial Statements). The Company has in the past successfully relied on private placements of common stock, bank financing, loans from private investors and the exercise of common stock warrants, in order to sustain operations. The Company plans to obtain the approval of its shareholders to increase the total number of authorized shares as well as perform a reverse split of the issued and outstanding shares to provide for the conversion of debentures for equity, use equity positions as incentive for attracting professionals, payment of professionals, sell additional shares for cash and use equity as payment for mergers and acquisitions.
By selling the equipment located in Brazil and the settlement agreement with Mr. Ackles (see Note 5, 9 & 20 Notes to Consolidated Financial Statements) the Company currently does not own any significant equipment. (See Note 4- Notes to the Consolidated Financial Statements) As of May 31st, 2004 the Company is utilizing consultants to manage 100 percent of the administration and business development, for which there are three Consultants under contract
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REUTERS ABRIDGED FINANCIAL SUMMARY For the three months ended 8/31/04, revenues totalled $58 thousand, up from $0. Net loss totalled $334 thousand, up from $152 thousand. Revenues reflect the inclusion of equity in earnings of Hamill lease. Higher loss reflects an increase in financing fees.
View Financials More from Reuters Significant Developments - Highlights - Performance - Ratio Comparison
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No officers available for AQCI.PK
Wall Street News Alert......
Wall Street News Alert: Stock Market Alert! May 4, 2005 5/4/2005 3:40:26 AM Weston, FLA., May 04, 2005 (M2 PRESSWIRE via COMTEX) -- Wall Street News Alert's "stocks to watch" this morning are: Caliber Energy, Inc. ( CALB ), Titan Oil and Gas, Inc. ( TNOG ), Halliburton's ( HAL ), Reliant Energy, Inc. ( RRI ) and Paxson Communications Corporation ( PAX ).
Aggressive investors and traders may set their sights on Caliber Energy, Inc. ( CALB ) again this morning. Yesterday after the markets closed, the company issued a press release announcing that it is moving forward in making the necessary preparations for the spud of the first oil well at the Bolloque Project, Alberta Canada.
This could be great news for investors! According to the company's press release, it and the operator of the project, Transaction Oil and Gas Ventures of Calgary have begun the well licensing, required permitting and have picked the well location. Site preparations will commence when the government road bans are lifted, anticipated to be shortly. Caliber is now locating a drilling rig for the project and expects to be drilling in 3 weeks.
Caliber has executed an Authority for Expenditure (A.F.E.) totaling $329,000 to drill, test and case the well. An additional $125,000 will be required to complete the well. Caliber is earning its 49% working interest by drilling, casing and completing an exploratory well on the leases.
Investors watch the progress of Caliber Energy! As earlier reported, the company commissioned a seismic review and interpretation on the Bolloque Project by an independent reservoir engineer and geophysicist that confirmed the presence of a Leduc Pinnacle Reef buildup under the Company leases. The seismic section shows a reef buildup of approximately 30 meters (98.5 feet). The reef has never been tested for oil at its highest development and Caliber will drill at this location to test for oil accumulation.
In case you are unfamiliar with the company: Caliber Energy, Inc. is primarily focused on developing advanced coal projects and other high potential business opportunities in the energy sector. The company is focusing on coal, oil and natural gas. Caliber's primary focus is on advancing coal projects to production, combined with the opportunities management has identified that would provide immediate cash flow and revenue by securing coal trade agreements. Caliber augments the coal projects with oil and gas opportunities that are low risk with a high rate of return. With this diverse portfolio, Caliber Energy minimizes risk as the company meets demand for fossil fuels.
Stocks showing interesting activity yesterday at the close of the regular trading day were:
Titan Oil and Gas, Inc. ( TNOG ) up 9.8% on 43.1 million shares traded,
Halliburton's ( HAL ) down 1.9% on 5.7 million shares traded,
Reliant Energy, Inc. ( RRI ) down 1.6% on 3.7 million shares traded and
Paxson Communications Corporation ( PAX ) up 28.1% on 1.8 million shares traded.
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TNOG Titan Oil & Gas Inc (OTHER OTC)
Open $ 0.02 High $ 0.02 Low $ 0.02 52-Wk Low $ 0.00 52-Wk High $ 0.08 P/E Ratio n/a Volume 43,133,600 Market Cap 1.0 M
Our system posted a BUY-IF today. The previous SELL recommendation that was confirmed was made on 05.05.2005 (4) days ago, when the stock price was 0.0180. Since then TNOG has fallen -13.89% .
Is this finally a good time to buy? Well, it depends. First check what happened at after hours trading and future values. Then, follow the next session very carefully and be on your toes. This candlestick pattern is a bullish one, but we have to see whether it will be confirmed or not.
Do you see a gap-up at the market open? Do you see a white candlestick forming with a higher close at the session's end? Shortly, is it a nice bullish day? If so, place your buy orders and open new long positions. The market is now on the bull side.
But, be careful, also. If you see a gap-down when the market opens, or if the session closes with a bearish sentiment producing a black candlestick characterized by a lower close, do not challenge the market. Ignore the BUY-IF alert. Cancel the buy orders and cover any new long positions that you might have opened. Bears are still in control.
[MOTTO OF THE DAY] Buy only if the bulls are in charge Forget about it if the bears surge
Today a Long White Candlestick was formed. This shows that the prices advanced significantly from open to close during the day under strong buying pressure.
For more about this candlestick click here.
The last two candlesticks formed a Bullish Piercing Line Pattern . This is a bullish reversal pattern that marks a potential change in trend. Though it is highly reliable confirmation is still recommended.
For more about this pattern click
-------------------- Legal
"I know not with what weapons World War III will be fought, but World War IV will be fought with sticks and stones." -- Albert Einstein
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TNOG is definately ready for a reversal this week. I kinda expected it to have a few red days b/c it was overbought like no other. A PR would be a nice compliment to its reversal this mornin!
-------------------- TNOG paid my college tuition
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Interview of Kent Jacobson Titan (TNOG) CEO
We are pleased to present Kent Jacobson, Titan Oil and Gas, Inc (TNOG) CEO interview. In the future we will try to present you with as many interviews as possible. You will also have access to past interviews with our new interview archive.
PennyBoom Present Titan Oil and Gas, Inc (TNOG) CEO interview by Vincent DeBlois
Vincent (interviewer) Kent Jacobson (Titan Oil and Gas, Inc (TNOG) CEO)
Vincent : Hi, Mr. Jacobson Mr Jacobson: Good morning!
Vincent: First, Mr. Jacobson, can you describe the Titan Oil and Gas, Inc business model to the pennyboom.com investor? Mr Jacobson: Titan has adopted a conservative business model, focusing on re-completing existing well bores that have a history of good production, with the use of newer drilling technologies. This enables significant savings vs. drilling a new well from the surface. Our targeted properties have similar characteristics; available information such as production charts and records showing a history of good production, and, in some cases, engineering reports.
Our operations at this time will primarily focus on properties in the State of Texas. Titan will also look at joint ventures when presented with good opportunities.
Vincent: Mr. Jacobson, Can you talk about the oil and gas industry market? Mr Jacobson: I believe the days of cheap oil and gas are gone forever.
The benchmark price of oil (for example, West Texas Intermediate), is set at the cost of extracting the last, most expensive barrel of oil out of the ground, which is known as "marginal" pricing. In other words, that last, most-expensive-to-produce barrel of oil is the one that sets the price for all the rest that are sold at that time. Every single day, roughly 4 million barrels of oil drop off from production. Before any other increase in population or economic activity is accounted for, these 4 million barrels must be replaced each and every single day, with more expensive oil than had been obtained originally. All the "cheap" oil has already been developed. More oil can come into production, but it will be expensive. If prices were lower, this oil would not be developed at all, but would be left in the ground. The resulting supply squeeze would push oil back up to prices that would restore production to levels that the world requires for its energy needs.
Of course, the economic situation in the world does not remain static each day. In addition to the requirement to replace 4 million barrels of oil each day before any other economic activity takes place, there has been an overwhelming increase in demand from the two most heavily-populated countries in the world - China and India.
The huge growth in economic activity in these two countries, combined with their enormous populations, has led to a sharp increase in the demand for oil and gas. This has been driven by both consumer demand and the requirements of manufacturers. When a nation of over a billion people experiences a shift from the use of bicycles to motorcycles and cars, this has a staggering effect on the world's oil and gas market. Increased wealth leads to spending on consumer appliances, with the attendant increase in demand for electricity produced by natural gas. Manufacturing also requires many of the by-products of petroleum distillation, for the production of plastics, etc.
It has been reported that these countries are buying energy companies in many countries of the world in order to secure their supply, and that the U.S. will have to compete to secure its own sources of energy both now and in the future. China is currently absorbing virtually all of the oil that Russia is bringing to market.
The oil futures market has been described as the most efficient market in the world. Many companies use the futures market to sell their oil "forward" at a predictable price. Oil prices are remaining high several years forward on the futures market.
The foregoing comments about oil reserves apply equally to gas. As is the case with oil, reserves drop off each and every day and must be replaced with gas that is increasingly more expensive to produce. Though there has been an increase in the shipping of liquefied natural gas, for the most part, domestic sources have been relied upon to a larger extent than with oil, which is easier to handle and to transport internationally.
Demand for increased electricity production has necessitated an increase in the use of gas-fired generators. Any discussion of fuel-cell technology involving hydrogen involves the need to produce the hydrogen, which still leads back to the use of natural gas. The same applies to electrically-powered vehicles - the extra electricity must come from somewhere, most often from the increased use of natural gas.
In summary, oil and gas will be required for a very long time - there are no viable replacements on the horizon. It will be harder and more costly to develop future reserves, and prices are expected to remain high for the foreseeable future. This bodes well for Titan as an oil and gas company.
Vincent: Mr. Jacobson, what is your short term priority? Mr Jacobson: To have a revenue stream diversified amongst several producing wells. Completing the work on our plate at this time, Stanley # 1 and #1B and Kosciusko #1, all in the Wilson Project, will be a major step forward and will satisfy this important short-term goal.
Vincent: Mr. Jacobson, Can you talk about the Wilson project? Mr Jacobson:As mentioned, there are 3 wells that are part of our initial operations, the Stanley Unit containing the #1 and #1B wells, and the #1 well on the Kosciusko unit. There are many existing well bores in this field from which we can initiate new lateral drilling, and we will continue to exploit these over time.
Kosciusko # 1 is the opposite of our typical target well – it is a vertical re-completion of an existing horizontal well (it is usually the other way around) and it has a history of good production. The Company is drilling vertically from the bottom of the existing hole appx. 550 feet into the heart of the target formation, for a total depth of appx. 7,200’.
Phase 1 of the drilling program has been completed, with 4 concrete plugs drilled out to a total depth of 3,589’. Pictures of the Phase 1 drilling operations are at the Company’s website at www.titanoilandgas.com .
A larger workover rig, capable of deep drilling to our target depth, will be arriving soon from Capital Well Services of Charlotte, TX, to complete Phase 2. This is the final phase of drilling operations to bring the well into production. Kosciusko #1 will have a separate tank battery to handle its own production.
The Stanley #1B is being exploited for existing production as it has shown very strong pressure. When this has been depleted, we will launch a horizontal bore from the existing hole with the aim of intersecting several oil-bearing formations.
The Stanley # 1 has had periods of extremely strong production from its own natural pressure, which has been reported in previous news releases. It’s hard to believe we may have used it for injecting waste water! Recent operations have been undertaken to put this well on pump.
Given the pressures and test results on the Stanley Unit, tank capacity was doubled to accommodate 600 barrels of oil and 1,000 barrels of water at a time, along with more automated pumping systems, allowing us to continue operations for longer periods without interruption.
Oil is trucked from the site, and there are times when we have heavy rain where we would otherwise have to shut the wells down to wait until the site is dry enough to bring an oil truck to the tank battery. The extra capacity lessens the likelihood of having to shut the wells down.
Vincent: Mr. Jacobson, Do you look to make property acquisitions in the medium term? Mr Jacobson: We are actively seeking other properties to diversify from out initial base of operations in the Wilson Project. We wish to engage in operations in other fields and will come back to complete additional “lateral,” or “horizontal” wells that await us in the Wilson Project. We will also seek joint venture opportunities that make sense for the company.
Vincent: Mr. Jacobson what is your long term expectation? Mr Jacobson: We have an objective of building a company that is diversified in several key areas. There should be a balanced mix of wells that have an expectation of short, medium and long term production.
There should be a constant supply of new production to both grow the company’s revenues in an absolute sense, and to replace wells that eventually cease production.
We should be diversified in our operations both from a geological and geographical standpoint. In other words, drilling in different types of oil-and-gas-bearing formations in different locations, for maximum diversity in our revenue streams and resulting stability of long-term revenues and reserves.
Vincent: Thank you for this interview Mr. Jacobson, and we wish you success with Titan Oil and Gas. Mr Jacobson:Thank you for taking the time to report on our company
posted
TNOG -- Titan Oil and Gas, Inc. Com ($0.0001)
COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
Titan Consolidated Inc: Titan Oil and Gas, Inc. video of Kosciusko drilling operations posted on website
SAN ANTONIO, TX, May 10, 2005 (M2 PRESSWIRE via COMTEX) -- Titan Oil and Gas, Inc. (TNOG:OTC) is pleased to announce that video of our Kosciusko #1 Well Phase 2 drilling operations has been posted to the Company's website at the following location: <http://www.titanoilandgas.com/news_release.htm>
Titan CEO Kent Jacobson comments: "We are pleased to be able to provide video of our recent drilling operations on the Kosciusko #1 Well so that our shareholders may see first-hand the work we are doing in the field."
Jacobson further reports: "We are expecting delivery of the surface tanks shortly so that we may begin flowing the well."
About Titan Oil and Gas, Inc
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Pretty piss poor video imo. Plus, it's a month old. FWIW I sold my position today for a loss. I'm definitely looking to get back in on some positive production numbers, however. I still think this has an upside. Maybe just not as big as I thought at one point.
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Not bad Mack, I'm still holding some, hoping for that beloved PR. Thanks for the tip on plni I did pretty good yesterday and even better today. How are you doing on both?
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