.05 for the short term. Anyone still believe this guy?
HOUSTON, Aug. 12, 2005 (PRIMEZONE) -- Coastal Holdings, Inc. (Other OTC:CSJJ.PK - News) is pleased to announce Market Advisors has initiated coverage of their company. Mr. Jeff Helleberg confirms a positive outlook on CSJJ based on his analysis of the Company's projected growth and fundamentals. Mr. Helleberg's price target of $0.05 indicates a strong short-term outlook. The complete analyst report will be posted on the Company website during the course of the day. Once posted, investors may view the analyst report by clicking on the attached link: http://www.coastalholdings.com/analysis.Posts: 256 | Registered: Oct 2005
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News for 'CSJJ' - (Coastal Holdings, Inc. Receives Signed Purchase Agreement From BDT Energy Producers, Inc. to Acquire Interest in Development Oil Well)
HOUSTON, TX, Oct 21, 2005 (MARKET WIRE via COMTEX) -- Coastal Holdings, Inc. (OTC: CSJJ), is pleased to announce that it has received the signed Purchase Agreement from BDT Energy Producers Inc. (BDT) to acquire a working interest in a development oil well. 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.
After further analysis, Coastal Holdings has decided to purchase the oil well designated as NO. 3 HINES rather than NO. 2 HONEY that appeared in the original MOU and first draft of the Purchase Agreement with BDT. Due to its location adjacent to BDT-owned and producing wells at NO.1 HINES and NO. 2 HINES, the purchase of this oil well is a lower risk venture while still offering Coastal Holdings high revenue and profit potential in a well which could last for 30 years or more. This well will be drilled into the Salem Limestone at a depth of 3350 feet and will be only 660 feet east of an old TEXAS Oil Company (TEXACO) well which produced 55 barrels of oil per day (BOPD) and no water from the Rosiclare limestone. This new well will also be 660 feet west of NO. 2 HINES which has sold in excess of $175,000 in oil produced from the Rosiclare limestone, from just one (1) of the 7 pay zones present in this well. As there are a number of pay zones that produce oil in the immediate area, this well will be drilled to test a total of 8 pay zones for oil and gas production.
The financial terms and tax advantages of this investment are very favorable for Coastal Holdings. First of all, this investment can be completely written off by Coastal Holdings in the year of investment and save the Company approximately $200,000 in Federal Income tax. In addition, BDT will guarantee Coastal Holdings a selling price of $50 per barrel of oil for the first 3,600 barrels of oil produced by the well, once it is drilled and becomes a producing well. This guarantees a base price for the oil produced, and if the market price is higher then Coastal Holdings' return on investment will correspondingly rise and provide the Company with a quicker payback. Based on a current market price of $60 per barrel of oil and a minimum annual production of 5,210 barrels of oil, within one year Coastal Holdings will receive a total return of its investment in the well and generate a profit.
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.
I'm still here, I'm holding all free shares now, and won't part with them until favorable conditions are more apparent. Did some T/A, and this week looks good for a small bounce, but could take some time, and I have lots of that. GLTA, and have a little fun this week.
-------------------- Time will give you what you want! Posts: 253 | From: Pennsylvania | Registered: May 2005
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Folks,I really believe this has got to be one of the most undervalued oil stocks out there right now. It wont take much to get this one to move! I am almost 1 mil. in right now and with some buying power or news this one will be up there with TWOG!