posted
CBRP -- Cambridge Resources Corp. Com ($0.001)
COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
Cambridge Resources Receives Independent Preliminary Engineering Report on American Pride Energy With an Estimated Value of USD$90 Million
NEW YORK, NY, Mar 01, 2007 (MARKET WIRE via COMTEX) -- Cambridge Resources Corporation (PINKSHEETS: CBRP) (FRANKFURT: M3F) announced today that it has received a preliminary engineering evaluation report from GA Engineering, which values some of the properties at USD $90 Million, representing a value of $0.50 per share. According to the independent preliminary report, only certain properties were surveyed and upon receipt of the complete independent evaluation report, expected by March 7, 2007, the evaluation figure on all properties could be established between USD $180 Million to $250 Million, representing a net present value per share of $1.00 to $1.39 per share.
"We are very happy with the preliminary independent report, which was delivered much faster than anticipated," said Tony Felitsky, President and CEO of Cambridge Resources Corp. "Our team of independent experts and our experienced management team will enable us to build a highly successful company here and abroad," further added Mr. Felitsky.
Cambridge Resources Corporation will continue to seek and acquire producing oil and gas companies throughout North America and around the world.
About Cambridge Resources
Cambridge Resources Corp. is a junior oil and gas producer located in Kansas City and its properties have an estimated 5,000,000 barrels in recoverable reserves and once the required financing is concluded, the company expects production to grow to 182,500 barrels of oil per year and 219,000 MCF of gas per year. The company projects to generate approximately USD $40 million in Revenue and USD $32 million in Profit within the next 5 years and further exceed these projections with the acquisition of further proven reserves in North America and around the world.
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
Contact: Alex Barta 514-991-2272 abarta*cambridgeresourcescorp.com
SOURCE: Cambridge Resources
CONTACT: mailto:abarta*cambridgeresourcescorp.com
Copyright 2007 Market Wire, All rights reserved.
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SUBJECT CODE: Energy and Utilities:Oil and Gas
Search for Dun & Bradstreet reports on this company
posted
Here some previous news: L2's starting to come alive:
CBRP -- Cambridge Resources Corp. Com ($0.001)
COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
Cambridge Resources Signs Definitive Acquisition Agreement With American Pride Energy
NEW YORK, NY, Feb 15, 2007 (MARKET WIRE via COMTEX) -- Cambridge Resources Corporation (PINKSHEETS: CBRP) (FRANKFURT: M3F) announced today that it had signed a definitive acquisition agreement for 100% of American Pride Energy Inc. According to the definitive acquisition agreement, Cambridge Resources Corporation will acquire 100% of American Pride Energy Inc. for 110,000,000 restricted common shares, which includes a provision for a US $10 million in financing upon closing and another pending acquisition, whereby the total issued and outstanding common shares of the company on a fully diluted basis will be 180,000,000 common shares.
The definitive acquisition agreement and required financing is expected to close on or before June 15, 2007.
The company further announced that it has terminated its corporate finance agreement with Midland Baring Capital Inc. The company is in the process of selecting its corporate finance advisory and investment banking group.
In addition, Cambridge Resources along with American Pride Energy have attempted to negotiate a new transaction to enable the acquisition of Peace West and Lesser Slave Lake Exploration, but were unsuccessful. The owners of Peace West and Lesser Slave Lake Exploration have provided an irrevocable termination of the previously announced acquisitions based on failure to close as intended by the agreements and subsequently the companies. Cambridge Resources and the owners of Peace West and Lesser Slave Lake have provided each other with a complete and full release and discharge.
Cambridge Resources Corporation will continue to seek and acquire producing oil and gas companies throughout North America and the world.
About American Pride Energy Inc.
American Pride Energy Inc. is a junior oil and gas producer located in Kansas City; its properties have an estimated 5,000,000 barrels in recoverable reserves and once the required financing is concluded, the company expects production to grow to 182,500 barrels of oil per year and 219,000 MCF of gas per year. The company projects to generate approximately US $40 million in Revenue and US $32 million in profit within the next 5 years.
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
Contact: Alex Barta 514-991-2272 abarta*cambridgeresourcescorp.com
SOURCE: Cambridge Resources
CONTACT: mailto:abarta*cambridgeresourcescorp.com
Copyright 2007 Market Wire, All rights reserved.
-0-
SUBJECT CODE: Energy and Utilities:Oil and Gas
Search for Dun & Bradstreet reports on this company.
COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
Cambridge Resources Provides Update on the Acquisition of American Pride Energy Inc.
NEW YORK, NY, Jan 04, 2007 (MARKET WIRE via COMTEX) -- Cambridge Resources Corporation (PINKSHEETS: CBRP) (FRANKFURT: M3F) provided an update today on the acquisition of American Pride Energy Inc. Cambridge Resources Corporation will acquire 100% of America Pride Energy Inc. for 110,000,000 restricted common shares, whereby the total issued and outstanding common shares of the company on a fully diluted basis will be 180,000,000 common shares.
The company plans to enter into a definitive agreement by January 10, 2007 and close the acquisition by or before January 17, 2007.
American Pride Energy Inc. is an oil and gas junior producer located in Kansas City where its properties have estimated 5,000,000 barrels in recoverable reserves once the required financing concluded; the company expects production to grow to 182,500 barrels of oil per year and 219,000 MCF of gas per year. The company projects to generate approximately USD $40 million in Revenue and USD $32 million in Profit within the next 5 years.
Cambridge Resources Corporation also announced yesterday that it had rescinded the transaction with Basics Minerals and will not close the acquisition of Lesser Slave Lake Exploration Inc. and or Peace West due to allege irregularities with the description of the Janvier property as well as the use of funds. Furthermore, the company announced that Sylvain Amyot will remain President and sole Director of the corporation until the closing of the acquisition of American Pride Energy Inc. and that Stan Ford and David Shaw had not been legally appointed and do not serve on the board of directors of the corporation nor as officers and therefore the press release of December 12, 2006, December 5, 2006, November 22, 2006 and November 1, 2006 are and were erroneous. It is important to note that neither Stan Ford and or David Shaw and or shareholders of Basics Minerals, Peace West, and Lesser Slave Lake are shareholders of Cambridge Resources Corporation.
Although the company rescinded the transaction with Basics Minerals, Peace West Energy and Lesser Slave Lake Exploration, it remains open to pursue future acquisition in the oil sands and shallow gas properties as it is the company's objective to grow by the development of its existing properties (American Pride Energy) and to acquire additional properties that will yield significant shareholder value.
About Cambridge Resources Corporation
Cambridge Resources Corporation is a publicly traded Oil & Gas company, which seeks to acquire North American Oil and Gas producing properties.
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
posted
The news are extremely good. The PPS is really low, this one should be running now. But I think people are not reacting because of the Dow right now.
Posts: 819 | Registered: Apr 2006
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-------------------- If your not on the edge of ur seat, sell it! Everything posted is my opinion! Posts: 992 | From: H-town | Registered: Nov 2006
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posted
thanks cassity... i need to invest for the pinkies
-------------------- If your not on the edge of ur seat, sell it! Everything posted is my opinion! Posts: 992 | From: H-town | Registered: Nov 2006
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Posted by: BB Player In reply to: time2sell who wrote msg# 221780 Date:3/1/2007 12:04:47 PM Post #of 221804
CBRP Got a email from company.
Mr. xxxx, Thank you for your interest in CBRP. The total number of outstanding shares is 180 million and the float is 30 million shares. Yes there are a few MM that are shorting but the price should begin to climb soon given the current volumes. Regards, Alex Barta.
-------------------------------------------------------------------------------- All my posts are my opinion. Do your own DD. Know your entry and exit points. Don't buy a falling knife till it hits the floor. Most of all take profits.
quote:Originally posted by cassity: Just seen this:
Posted by: BB Player In reply to: time2sell who wrote msg# 221780 Date:3/1/2007 12:04:47 PM Post #of 221804
CBRP Got a email from company.
Mr. xxxx, Thank you for your interest in CBRP. The total number of outstanding shares is 180 million and the float is 30 million shares. Yes there are a few MM that are shorting but the price should begin to climb soon given the current volumes. Regards, Alex Barta.
-------------------------------------------------------------------------------- All my posts are my opinion. Do your own DD. Know your entry and exit points. Don't buy a falling knife till it hits the floor. Most of all take profits.
NICE!!!
Posts: 358 | From: Sweden | Registered: Feb 2007
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posted
The company projects to generate approximately USD $40 million in Revenue and USD $32 million in Profit within the next 5 years.-------------------- 5 years is a LONG time in pinkyland!!! non reporting! no financials, play the hype, take your profits!!!
Posts: 2503 | From: connecticut | Registered: Mar 2005
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quote:Originally posted by madmoney: The company projects to generate approximately USD $40 million in Revenue and USD $32 million in Profit within the next 5 years.-------------------- 5 years is a LONG time in pinkyland!!! non reporting! no financials, play the hype, take your profits!!!
You like to follow me everywhere. Thanks for the advice.
quote:Originally posted by madmoney: The company projects to generate approximately USD $40 million in Revenue and USD $32 million in Profit within the next 5 years.-------------------- 5 years is a LONG time in pinkyland!!! non reporting! no financials, play the hype, take your profits!!!
You like to follow me everywhere. Thanks for the advice.
I still think this one can go back up to 20c wehere it was all Nov. and Dec.
Posts: 358 | From: Sweden | Registered: Feb 2007
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quote:Originally posted by madmoney: The company projects to generate approximately USD $40 million in Revenue and USD $32 million in Profit within the next 5 years.-------------------- 5 years is a LONG time in pinkyland!!! non reporting! no financials, play the hype, take your profits!!!
You like to follow me everywhere. Thanks for the advice.