posted
I have been watching this stock for a few weeks and it has taken a beating. the float is extremely low and one 10,000 share buy at the ask moves this a good amount. I think current float may be around 7million but do not quote me. This is why I think it may be an excellent play right now.
Hemi Energy Group Updates Shareholders Tuesday September 19, 1:34 pm ET
GRAHAM, Texas--(BUSINESS WIRE)--Sept. 19, 2006--During the past eight weeks, Hemi Energy Group (Pink Sheets: HMGP - News) has been working with the Depository Trust Corporation (DTC) to resolve a recently discovered issue that dates back to the merger of the company as a publicly traded entity. This issue should be resolved within the next few weeks. In the meantime, this issue in no way affects the daily operations of Hemi. The company also has some important updates that it will be releasing within the next few days. About Hemi
Hemi Energy Group is an independent crude oil and natural gas producer employing a unique business model capitalizing on technological advances to exploit mature fields with millions of barrels of proven oil remaining in the ground. Using attractive lease/royalty packages, Hemi has secured tens of thousands of acres of productive, domestic projects. The company's forward-thinking strategy has placed it in an enviable position at a time when prices and global demand for oil continue to rise.
Building on decades of experience in enhanced oil recovery, Hemi has successfully amassed a substantial and attractive portfolio of these high-quality domestic properties. By streamlining operations through cutting-edge technologies, Hemi has the ability to operate more effectively and efficiently than larger oil companies.
posted
I have no theories, but they are getting it corrected and may then put out a flurry of PR's and update knowing everyone can buy in with no problem, I think that what they have been waiting for!
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Hemi Energy Group Closes on Acquisition of Additional 45 Oil Wells Sep 21, 2006 1:52:00 PM Copyright Business Wire 2006 GRAHAM, Texas--(BUSINESS WIRE)--Sept. 21, 2006--
Hemi Energy Group Inc. (Pink Sheets: HMGP) recently consummated the purchase of an additional 45 oil wells and 2 injection wells on the Orth-Reno, Orth-Silvey and Bennett Leases. The leases were acquired on cash terms from Inlan Oceans LLC of Galena, Kansas. The acquisition gives Hemi 100% working interest (net revenue interest of 80%) on all lease acreage and wells.
The acquired lease acreage and wells are located in Woodson County, Kansas, comprised in excess of 1000 acres located adjacent to Hemi's current Purcell, Tebbens and Zimmerman leases. This acquisition gives the company 103 existing production and injection wells covering over three square miles of contiguous Enhanced Oil Recovery (EOR) operations. Production is from the Humboldt Chanute oil field comprised of Mississippian era (squirrel) sand stone formations located at intervals at less than 1000 feet of total depth. Since the acquisition, company and contract field crews have been repairing and reinstalling lease infrastructure, test pumping, rehabilitating wells and establishing a baseline production for the leases and each individual well. The company expects to have the leases online and in full production within the next 30 working days depending on variables such as weather and equipment availability.
Keith A. Anderson, President of Hemi, said of this acquisition, "As far as our leasing program is concerned, these leases are key to making it possible for us to optimize the Kansas EOR operations. We continue negotiating with additional mineral owners and companies for both additional production and lease acreage in order to expand the current EOR project. Pending the outcome of these negotiations, we expect to acquire lease acreage to potentially give us 8 to 15 square miles of contiguous EOR operations in the Humboldt Chanute field."
Additionally, preliminary geological studies conducted and identified by Tectonic Energy Consultants have identified the same geological markers and trends identified outside the known boundaries of the 150,000-acre Humboldt-Chanute field. Following the Tectonic recommendations, we have begun leasing undeveloped or unexplored acreage following this newly identified trend. This additional leasing program is intended to be developmental drilling program, scheduled to commence next spring.
About Hemi
Hemi Energy Group is an independent crude oil and natural gas producer employing a unique business model capitalizing on technological advances to exploit mature fields with millions of barrels of proven oil remaining in the ground. Using attractive lease/royalty packages, Hemi has secured tens of thousands of acres of productive, domestic projects. The company's forward-thinking strategy has placed it in an enviable position at a time when prices and global demand for oil continue to rise.
Building on decades of experience in enhanced oil recovery, Hemi has successfully amassed a substantial and attractive portfolio of these high-quality domestic properties. By streamlining operations through cutting-edge technologies, Hemi has the ability to operate more effectively and efficiently than larger oil companies.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995
Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.
Source: Hemi Energy Group Inc.
Posts: 152 | From: fla | Registered: Feb 2006
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posted
I think it's only a matter of time. With the low float. I wonder if the DTC thing has been resolved and what was it?
Posts: 152 | From: fla | Registered: Feb 2006
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quote:Originally posted by playtime: I think it's only a matter of time. With the low float. I wonder if the DTC thing has been resolved and what was it?
Yup it is just a matter of time, I'm sure they will update us shortly when it is fixed, and then more releases will be coming out. Can't wait!
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posted
don't know if/what it means anything, but both of these are dated today. One "not in good standing" one "in good standing" 2 different tax ID#'s too.
CERTIFICATE OF ACCOUNT STATUS This is in response to your inquiry about the status of HEMI ENERGY GROUP INC
This corporation is not in good standing as it has not satisfied all state tax requirements.
If you need any additional information or assistance, please contact the Texas State Comptroller's field office in your area or call 1-800-252-1381, toll free, nationwide. The Austin number is 512-463-4600. If you are calling from a Telecommunications Device for the Deaf (TDD), the toll-free number is 1-800-248-4099, or in Austin, 512/463-4621. ------------------------------------------------
I, Carole Keeton Strayhorn, Comptroller of Public Accounts of the State of Texas, DO HEREBY CERTIFY that according to the records of this office
HEMI ENERGY GROUP INC
is, as of this date, in good standing with this office having no franchise tax reports or payments due at this time. This certificate is valid through the date that the next franchise tax report will be due May 15, 2007.
This certificate does not make a representation as to the status of the corporation's Certificate of Authority, if any, with the Texas Secretary of State.
This certificate is valid for the purpose of conversion when the converted entity is subject to franchise tax as required by law. This certificate is not valid for the purpose of dissolution, merger, or withdrawal.
GIVEN UNDER MY HAND AND SEAL OF OFFICE in the City of Austin, this 25th day of September 2006 A.D.
Carole Keeton Strayhorn Texas Comptroller
Form 05-304 (Rev. 02-03/14)
Posts: 152 | From: fla | Registered: Feb 2006
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