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More news: Press Release Source: Cambridge Resources
Cambridge Resources Releases Completed Independent Evaluation of the American Pride Energy Properties; Valued at USD $409 Million Monday March 5, 3:40 pm ET
NEW YORK, NY--(MARKET WIRE)--Mar 5, 2007 -- Cambridge Resources Corporation (Other OTC:CBRP.PK - News) (Frankfurt:M3F.F - News) released the completed independent evaluation report by G.A. Engineering with total value of USD $409 million. According to the independent report, the value determined is based on the probable and recoverable reserves as well as current production and the fair market value of the equipment. The independent report evaluated the following American Pride Energy properties:
-- McGary Adams -- Jack McLain -- Sacred Heart Parrish -- Peak Clements -- Asher -- Dixon: (data not complete and not included in the report) -- Pain Creek -- Benoist -- McClosky -- Rosiclare -- Kansas Gas Properties (data not complete and not included in the report) -- TOTAL EVALUATION: USD $409,011,819 ADVERTISEMENT
The independent report does not currently include the Dixon property nor does it include the Kansas Gas properties. A revised report will be issued to reflect all properties once the data on the Dixon and the Kansas gas properties are completed and analyzed.
"The independent evaluation on the American Pride Energy Properties is beyond our expectation. The preliminary report only accounted for a few elements, but now with the completed report, we are well on our way to developing our properties," said Mr. Felitsky, President and CEO of Cambridge Resources Corporation. "Now it is our turn and that of our team of experienced professionals to assure that value on the report is transformed into value in the hands of our shareholders," further added Mr. Felitsky.
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.
-------------------- If your not on the edge of ur seat, sell it! Everything posted is my opinion!
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I'm thinking/hoping that yesterday's "last-minute" PR should really get things moving here. There is just SOOO much good news that it can't be ignored!
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Cambridge Resources Releases G.A. Engineering's Independent Evaluation Report of the American Pride Energy Properties; Valued at USD $409 Million Tuesday March 6, 10:00 am ET
NEW YORK, NY--(MARKET WIRE)--Mar 6, 2007 -- Cambridge Resources Corporation (Other OTC:CBRP.PK - News) (Frankfurt:M3F.F - News) released the completed independent evaluation report by G.A. Engineering with total value of USD $409 million. According to the independent report, the value determined is based on the probable and recoverable reserves as well as current production and the fair market value of the equipment. The independent report evaluated the following American Pride Energy properties :
-- McGary Adams -- Jack McLain -- Sacred Heart Parrish -- Peak Clements -- Asher -- Dixon: (data not complete and not included in the report) -- Pain Creek -- Benoist -- McClosky -- Rosiclare -- Kansas Gas Properties (data not complete and not included in the report) -- TOTAL EVALUATION: USD $409,011,819 ADVERTISEMENT
The independent report does not currently include the Dixon property nor does it include the Kansas Gas properties. A revised report will be issued to reflect all properties once the data on the Dixon and the Kansas gas properties are completed and analyzed.
"The independent evaluation on the American Pride Energy Properties is beyond our expectation. The evaluation represents $2.27 of property value per share considering the total issued and outstanding on a fully diluted basis. Even if someone wanted to be extra conservative and were to discount the evaluation by 90%, it still represents $0.23 per share," said Mr. Felitsky, President and CEO of Cambridge Resources Corporation. "Now it is our turn and that of our team of experienced professionals to assure that value on the report is transformed into value in the hands of our shareholders. We will do whatever is in our power to counter the short sellers and or any other negative market forces," further added Mr. Felitsky.
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.
About G.A. Engineering
G.A. Engineering is a Petroleum Engineering firm based in Tulsa, Oklahoma. The company and its principal engineers have over 37 years of domestic experience in drilling, completions and reservoir evaluations. G.A. Engineering prepared the evaluation report for American Pride Energy Inc. during the month of February released in March. G.A. Engineering or employees have no direct or indirect, nor expect to receive any interest in the properties and or any securities with respect to this project. The evaluation report provided by G.A. Engineering is totally independent.
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quote:Originally posted by jdiddy: Post from Ihub: Email from Alex target price $1.00 in 3 months.
We do not have a web site yet and we have 180,000,000 shares outstanding and 30,000,000 in the float. There is no dilution as we do not plan to issue any more shares for the time being. Our target for $1.00 is within the next 3 months. Alex Barta.
They need to put this e-mail into a nice little PR.
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Walt, Yes as I have told you there are some excellent news coming out soon and we are still targeting $1/share within 3 months. Our goals are to fund the development of our existing properties so as to maximize shareholder value and to continue pursuing other opportunities in the energy sector world wide. We do not have any CD that I am aware of. Cheers, Alex.
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