TNOG: Titan Oil and Gas, Inc.-Titan Strikes Oil on Kosciusko #1 Well! Up over 110%
Once again we are pleased to reach a new high for the year. We gained in excess of 110% on Thursday and have maintained a good market today as well hitting the high of .0093. The company for Struck Oil their 3rd well. We will of course be visiting the property over the next month. New updates and production rates will be available shortly. New pictures will be on the website and we thank everyone for their support of the company.
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"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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Titan Oil and Gas, Inc.-Titan Strikes Oil on Kosciusko #1 Well Thursday April 14, 10:30 am ET
SAN ANTONIO--(BUSINESS WIRE)--April 14, 2005--Titan Oil and Gas, Inc. (TNOG:OTC) has struck oil, completing Phase 2 of its drilling operations on the Kosciusko #1 Well. Titan CEO Kent Jacobson reports: "We encountered high pressures 300 feet above our original target zone and decided to complete the well at this depth. The rig concluded its work, and an x-mas tree was installed on the wellhead. A tank battery will be constructed shortly, and the well will be tested for continuous production.
"We are pleased to complete drilling operations on this well, and look forward to concluding surface installations in order to bring this well into production."
Pictures of Phase 2 operations are now available on the Company's website at www.titanoilandgas.com and additional pictures will be posted shortly.
About Titan Oil and Gas, Inc. - Titan is an energy company engaged in oil and gas development, drilling and production. Titan follows a conservative business model, redeveloping oil and gas fields with a history of production, while expanding into exploration and development of new properties.
Certain information included in this communication (as well as information included in oral statements or other written statements made or to be made by Titan Oil and Gas, Inc.) contains statements that are forward looking, such as statements relating to the future anticipated direction of the Oil and Gas Industry, plans for expansion, various business development activities, planned capital expenditures, future funding resources, anticipated sales growth and potential contracts. These forward looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual operations or results to differ materially from those anticipated.
-------------------------------------------------------------------------------- Contact: Titan Oil and Gas, Inc. Investor Hotline (503) 618-0370 or Toll Free: 1-888-601-9983 info@titanoilandgas.com www.titanoilandgas.com
KDW Telecom Inc. (Pink Sheets: KDWJ - http://finance.yahoo.com/q?s=KDWJ.PK ) KDW Telecom Inc. announced that the company is now preparing to enter into the South American Market. The Company will start by offering a package of services for both local and long distance airtime.
KDW Telecom will offer packages that include local and long distance within the user's country. In addition, long distance throughout South America and upgrade packages that will include service to North America and Europe will also be available. About KDW Telecom, Inc.
The company is a start-up Telecommunications Service Provider specializing in VoIP Telephony. It has started deploying its Internet Backbone and it has begun implementing the latest VoIP technologies existing on the international market.
The company has already started negotiations with international telecommunications service providers for acquiring international co-location and procuring switch partitioning services. The company is also planning to have several technical points of presence in several major European cities.
Marine Jet Technology Corp. (OTCBB: MJET - http://finance.yahoo.com/q?s=MJET.OB ) Our plan of operation is to seek a target company with which to merge or to complete a business combination. In any transaction, we will be the surviving entity, and our stockholders will retain a percentage ownership interest in the post-transaction company. The amount of the retained equity ownership by our stockholders will be negotiated by our management and the target company. We may also be required to pay cash and/or equity fees to third parties that advise us in connection with the merger or business combination, commonly refereed to as a reverse merger. These third party advisors may include certain affiliates of ours and their affiliated entities.
Typically in connection with the reverse merger transaction involving us and the target company, there will be a capital funding event for the target business on a combined basis either at the time of the reverse merger or shortly thereafter. This may be a private placement by either us or the target company, if the funding event is contingent on the closing of the reverse merger. If the funding event is after the reverse merger, it will likely be a public offering or private placement of our securities. It will often be the case that the liquidity opportunity for our existing stockholders will be tied to the ability of the old and new investors of the target enterprise to have liquidity in the market for their financial investment. Therefore, our stockholders may have to continue to hold their investment or may face competition in being able to sell their shares in the post-transaction business in the public market, which may depress the price for such a volume of securities.
We will not restrict our search to any specific business, industry or geographic location, and we may participate in a business venture of virtually any kind or nature. This discussion of our plan for acquiring an operating business is purposefully general, and it is not meant to be restrictive of the virtually unlimited discretion to search for and enter into potential business opportunities. We anticipate that we will be able to participate in only one potential business venture because of our nominal assets and limited financial resources.
We may seek a business opportunity with entities which have recently commenced operations, or that desire to utilize the public marketplace in order to raise additional capital in order to expand into new products or markets, to develop a new product or service, or for other corporate purposes. We may acquire assets and establish wholly owned subsidiaries in various businesses or acquire existing businesses as subsidiaries. We expect that the selection of a business opportunity will be complex and risky. Due to general economic conditions, rapid technological advances being made in some industries and shortages of available capital, we believe that there are numerous potential targets with either sound business ideas or operations seeking the benefits of a shell company that has complied with the federal reporting requirements for public companies and is publicly trading. Such benefits may include facilitating or improving the terms on which additional equity financing may be sought, providing liquidity for incentive stock options or similar benefits to key employees, providing liquidity (subject to restrictions of applicable statutes) for all stockholders and other factors. Potentially, available business opportunities may occur in many different industries and at various stages of development, all of which will make the task of comparative investigation and analysis of such business opportunities extremely difficult and complex. We have, and will continue to have, limited capital with which to provide the owners of business opportunities with any significant cash or other assets. We will, however, be able to offer owners of target candidates the opportunity to acquire a controlling ownership interest in an issuer who has complied with the reporting requirements under federal securities laws without incurring the cost and time required to conduct an initial public offering.
The analysis of new business opportunities will be undertaken by, or under the supervision of, our management who will likely engage outside advisors to assist us in this analysis. Some of these outside advisors may be affiliates of ours or their affiliated entities. We intend to concentrate on identifying preliminary prospective business opportunities which may be brought to our attention through present associations of our officers and directors, or by our advisors. In analyzing prospective business opportunities, we will consider such matters as (i) available technical, financial and managerial resources; (ii) working capital and other financial requirements; (iii) history of operations, if any and prospects for the future; (iv) nature of present and expected competition; (v) quality, experience and depth of management services; (vi) potential for further research, development or exploration; (vii) specific risk factors not now foreseeable but that may be anticipated to impact the proposed activities of the company; (viii) potential for growth or expansion; (ix) potential for profit; (x) public recognition and acceptance of products, services or trades; (xi) name identification; and (xii) other factors that we consider relevant. As part of our investigation of the business opportunity, we or our advisors expect to meet personally with or interview management and key personnel.
We may also have to compensate certain advisors, finders and investment banking firms for services rendered in connection with the identification of target operating companies and the negotiation and completion of the transaction. Due to our limited resources, it is expect that all or a portion of this compensation will be in the form of our common stock or from cash provided by the target company or the funding event. Additional issuance of our common stock will have a further dilutive effect on the percentage of shares held our stockholders. Keating Securities, LLC, an affiliate of Keating Investments, LLC, the managing member of our controlling stockholder, will also act as a financial advisor in connection with the reverse merger transaction and will be paid a cash and/or equity fee upon the successful closing of the reverse merger.
We will not acquire or merge with any company for which audited financial statements cannot be obtained within a reasonable period of time after closing of the proposed transaction.
Acquisition Opportunities
In implementing a structure for a particular business acquisition, we may become a party to a merger, consolidation, reorganization, joint venture, or licensing agreement with another company or entity. We may also acquire stock or assets of an existing business. Our management may have the right to approve and authorize a reverse merger transaction with a target company without obtaining the vote of the majority of our stockholders. Further, upon consummation of a reverse merger transaction, it is probable that our present management and stockholders will no longer be in control of us. In addition, our management, as part of the terms of the reverse merger transaction, may resign and may be replaced by new directors without a vote of our stockholders. Any and all sales of shares of our common stock may only be made in compliance with the securities laws of the United States and any applicable state.
It is anticipated that certain securities issued by us in connection with the reverse merger would be issued in reliance upon exemptions from registration under application federal and state securities laws. In some circumstances, as a negotiated element of the reverse merger transaction, we will be asked to agree to register all or a part of such securities immediately after the transaction is consummated or at specified times thereafter. In such a case, we will attempt to negotiate the registration of some or all of our current outstanding shares which are restricted, but there is no guarantee that this will be accomplished or, if accomplished, that the registration rights will be identical. If such registration occurs, it will be undertaken by the surviving entity after it has successfully consummated a reverse merger and is no longer considered an inactive company. The issuance of substantial additional securities by us in connection with the reverse merger and their potential sale into any trading market which may develop in our securities may have a depressive effect on the value of our securities in the future. There is no assurance that such a trading market will develop.
While the actual terms of a reverse merger transaction cannot be predicted, it is expected that the parties to any business transaction will find it desirable to avoid the creation of a taxable event and thereby structure the business transaction in a so-called "tax-free" reorganization under Sections 368(a)(1) or 351 of the Internal Revenue Code (the "Code"). In order to obtain tax-free treatment under the Code, it may be necessary for the owners of the acquired business to own 80 percent or more of the voting stock of the surviving entity. In such event, the equity interest retained by our current stockholders would be less than 20 percent of the issued and outstanding shares of the surviving entity. This would result in significant dilution in the equity interests of our stockholders. In addition to the tax considerations discussed above, it is likely that in any reverse merger, and depending upon, among other things, the target company's assets and liabilities, the equity interests of our stockholders after the transaction will be a small percentage of the post-transaction company. The percentage ownership may be subject to significant reduction in the event we acquire a target company with significant assets and expectations of growth.
We will participate in a business opportunity only after the negotiation and execution of appropriate written agreements. Although the terms of the acquisition agreements cannot be predicted, generally such agreements will (i) require specific representations and warranties by all of the parties; (ii) specify certain events of default and remedies therefor; (iii) detail the terms of closing and the conditions which must be satisfied by each of the parties prior to and after closing; (iv) outline the manner of bearing costs, including costs associated with our attorneys and accountants; (v) set forth indemnification provisions; and (vi) include miscellaneous other terms.
As stated above, we will not acquire or merge with any entity which cannot provide independent audited financial statements within a reasonable period of time after closing of the proposed transaction. Included in these requirements is the affirmative duty to file independent audited financial statements as part of a Current Report on Form 8-K, required to be filed with the SEC upon consummation of a merger or acquisition, as well as audited financial statements included in an Annual Report on Form 10-K (or Form 10-KSB, as applicable). If such audited financial statements are not available at closing, or within time parameters necessary to insure compliance with the reporting requirements under federal securities laws, or if the audited financial statements provided do not conform to the representations made by the business to be acquired, we will attempt to negotiate a provision in the definitive closing documents to void the transaction. However, there is no guarantee that we will be successful in including such a provision and, in such case, the continued ability of the post-transaction company to remain a reporting company and publicly trading may be in jeopardy.
Titan Oil and Gas, Inc. (Pink Sheets: TNOG - http://finance.yahoo.com/q?s=TNOG.PK ) Titan Oil and Gas, Inc. has struck oil, completing Phase 2 of its drilling operations on the Kosciusko #1 Well.
Titan CEO Kent Jacobson reports: "We encountered high pressures 300 feet above our original target zone and decided to complete the well at this depth. The rig concluded its work, and an x-mas tree was installed on the wellhead. A tank battery will be constructed shortly, and the well will be tested for continuous production.
"We are pleased to complete drilling operations on this well, and look forward to concluding surface installations in order to bring this well into production."
Tidelands Oil & Gas Corporation (OTCBB: TIDE - http://finance.yahoo.com/q?s=TIDE.OB ) Tidelands Oil & Gas Corporation today announced that its wholly owned subsidiary, Sonora Pipeline, L.L.C., filed for permits with the Railroad Commission of Texas for the operation and construction of the Progresso International Pipeline and the Mission International Pipeline. These international pipelines will link gas supply in Texas to gas markets in Mexico.
Both the Progresso International Pipeline and Mission International Pipeline will be 30" (inches) in diameter and be connected to the pipeline infrastructure and storage/LNG projects proposed by Tidelands' wholly owned subsidiary, Terranova Energia, S. de R.L. de C.V. These pipelines will be operated by Tidelands' subsidiary, Sonora Pipeline, L.L.C., and will interconnect with Sonora's proposed international pipeline crossing.
The Progresso International Pipeline will run from the Rio Grande to Donna Station with potential interconnects with TETCO, Tennessee Gas Pipeline and Texas Gas Services. This line will extend approximately 17 miles into Mexico and 10 miles into the U.S. The Mission International Pipeline will run from the Rio Grande to the Valero Gilmore Plant with potential interconnects with Houston Pipeline, Calpine, Kinder Morgan, El Paso and Gulf Terra. This line will extend approximately 52 miles into Mexico and 25 miles into the U.S.
Both pipelines will each have a maximum capacity to flow 500 million cubic feet of gas per day (MMCFD) and are designed to be bi-directional allowing for the delivery of natural gas from the U.S. into Mexico or vice versa.
Commenting on the permits filed with the Railroad Commission of Texas, President and CEO of Tidelands Oil & Gas Corporation, Michael Ward said, "We are extremely proud that our management team and those with whom we have aligned ourselves have effectuated this permitting process. We continue to build on our established relationships to facilitate the delivery of gas to Mexico and the execution of our business plan."
Tidelands will continue to deliver updates to its shareholders and the investment community as developments warrant.
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TNOG Titan Oil & Gas Inc (OTHER OTC) 4/15/2005 12:00:00 AM ET
Realtime Quote $0.01 - $0 (-8.75%) Refresh Quote
Open $ 0.01 High $ 0.01 Low $ 0.01 52-Wk Low $ 0.00 52-Wk High $ 0.08 P/E Ratio n/a Volume 91,734,500 Market Cap 386,878 Shares Outstand. 52.9970 M
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Hey guys, this thing is rising and falling all over today. Anybody think we'll see a huge fall into the .003's again anytime soon or should we just we just play the dips at this level?
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"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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