| |
Canadian Company Spotlight
CCM Research Note June 2, 08 Report,
Click Here.
CCM May 30, 08 Research Report,
Click Here.
|
Oracle Energy Corp. Website:
Click
Here |
Information As Of June 2,
2008 |
| Exchange:
TSX Venture |
Market Cap:
7.7 Million |
| Outstanding Shares:
42.6 Million |
52 Low / High:
$0.09 / $0.29 |
|
Price June 2, 2008:
$0.17 |
OCL Stock Quote and News:
Click Here |
|
Also Traded on:
(Frankfurt: O2E) &
(Pink Sheets: OECPF) |
'Oracle has
been notified by project operator Carpathian Energy that the
National Gas Regulation Authority of Romania has issued the
final approval of the permit to produce gas and hydrocarbons
from Well No. 3 at Nadlac Field in western Romania.'
Overview
Oracle Energy Corp. (OCL: TSX.V ) (O2E:
FRANKFURT) (OECPF: PINK SHEETS) is an international company
engaged in the development and exploration of oil and gas.
Oracle has an 18.75% interest in 640 acres, Zapata County,
Texas. Oracle also has a 20% working interest in the
re-development of the Chitsey oil field in Franklin County ,
Texas. The Company also has a 20% interest in 6 previously
producing oil and gas concessions in Romania. New project
acquisitions are also actively being pursued and evaluated in
Honduras, Central America and elsewhere.
Investment Highlights
-
Oracle Energy Corp. has
entered into an agreement to acquire a 20% working
interest in the 6 concessions that Carpathian was awarded
by the Romanian Government in November 2002. Since then,
preliminary feasibility studies and analysis has been
performed by Carpathian with the data leading management
to believe that there is over 3 million barrels of
recoverable oil (BO) and 12 Billion cubic feet (BCF) of
recoverable gas.
-
OCL's Romania property will
undergo an aggressive drilling program where the Company
believes there will be near term gas production. Up to 4
new wells are planned for Cozienzi in 2008. 15 new oil
wells are planned for Bordei Verdi Vest in 2008/9.
-
The Nadlac project in Romania
has identified a 71 foot thick oil zone. Geological data
indicates the oil zone is field wide encompassing 860
acres and may contain significant recoverable commercial
oil reserves.
-
As of May 29, 2008 Chitsey oil
field , Franklin County, Texas is currently under re-entry
operations.
-
As of May 8, 2008, J.Vela #1
gas well, Zapata County Texas is to be completed.
-
As of May13, 2008, Romanian
pipeline purchase was finalized. Nadlac #3 well and is to
be put on-line. All planned work programs in Romania are
to commence and revenue from gas sales are expected
shortly.
-
As of May 12, 2008, Mr. Art
Green was appointed Director and Chief Operating Officer
of Oracle Energy.
-
Additional project
acquisitions are now underway.
Corporate Profile
Oracle has an 18.75% interest in 640 acres located in Zapata
County. There is spacing for up to 8 wells and there also
exists further commercial potential from at least one
additional gas zone at deeper level.
The J Vela gas well #1 was spudded on April 14, 2008 and as
of May 8 the operator, Ventum Oil and Gas of Houston, Texas
had exceeded target depth by 1000 ft. to reach a total depth
of 9400 ft. The well will be fracced and tested.
An additional project to be undertaken with Ventum Oil and
Gas of Houston, Texas as project operator, involves a 20%
Working Interest in the re-development of the Chitsey
(Smackover) Field Unit currently under re-entry operations
in Franklin County.
Oracle is also becoming active in the economically
underdeveloped former communist Eastern Block nation of
Romania. This oil-rich European outpost is where Oracle is
entering into a joint venture partnership with Carpathian
Energy to use Western-edge technology to develop no less
than six previously producing oil & gas fields.
These hydrocarbon fields were formerly operated by the
state-run Romanian National Oil Company but have been
abandoned in recent years due to either low production
volumes or various mechanical problems. The good news is
that Carpathian's mostly American geologists have
extensively analyzed these fields and determined that they
have historically been mismanaged, leading to significant
production inefficiencies. In some fields, it is estimated
that less than 10% of the recoverable reserves have been
successfully exploited by past production.
The joint venture partnership agreement allows Oracle to
acquire a 20% interest in these six oil & gas field
concessions that were granted to Carpathian Energy only a
couple of years ago. This timely opportunity became a
reality following a 1999 change in Romanian federal
legislation that led to the selling-off of certain
government-owned natural resource assets. Carpathian was one
of the select few bidders (and the only Western company) to
be granted unfettered access to these largely untapped oil &
gas fields in November of 2002.
OCL has initiated the process of acquiring exploration lands
in undisclosed parts of Honduras. The Company's decision to
commit resources to Honduras was based on the results of
extensive geologic and remote sensing studies carried out
over the last 14 months. Oracle Energy's preliminary
evaluation indicates significant oil and gas potential at
reasonable depths.
Properties
Zapata County, Texas
Oracle has an 18.75% interest in 640 acres located in Zapata
County. There is spacing for up to 8 wells and there also
exists further commercial potential from at least one
additional gas zone at deeper level.
The J Vela gas well #1 was spudded on April 14, 2008 and as
of May 8 the operator, Ventum Oil and Gas of Houston, Texas
had exceeded target depth by 1000 ft. to reach a total depth
of 9400 ft. The well will be fracced and tested.
Franklin County, Texas
An additional project to be undertaken with Ventum Oil and
Gas of Houston, Texas as project operator, involves a 20%
Working Interest in the re-development of the Chitsey
(Smackover) Field Unit currently under re-entry operations
in Franklin County. The project involves the secondary
recovery or "water flood" of the field which had primary
production of approximately 1,039,000 barrels of oil.
Romania
As of May 13, 2008, Oracle Energy has been notified by
Carpathian Energy Companie Petroliera ("Carpathian") that it
has finalized the purchase from Petrom, S.A. of the
Nadlac-Turnu pipeline in western Romania. The pipeline runs
from Nadlac field to the national gas transmission line
network and is 6 5/8 inches in diameter and 33 kilometers in
length.This purchase will enable the company to produce the
gas from the No. 3 well in Nadlac field.
Initial tests on the first work over well [#3] in the Nadlac
field indicated gas and fluid produced at the following
rates: 27/64-inch choke: 1,230 mcfd and 23 bcd (barrels of
condensate per day) and 15/64-inch choke: 673 mcfd and 10
bcd.
Also at Nadlac, an oil zone has been identified. Geological
data indicates an oil column at least 71 feet thick and
field wide encompassing an area at least 860 acres.
Production tests at deeper levels indicate the oil column
could be greater than 71 feet and contain significant
recoverable commercial oil reserves. Next workover at Nadlac
will include running a Schlumberger RST Log to further
evaluate the oil and gas zones behind pipe in the wellbore.
A trailer-mounted 3500 Wilson drilling rig (capable of
drilling 5000 feet) purchased by operator Carpathian Energy
and scheduled to land in Romania, third quarter 2008 is
expected to be mobilized first to the Cozieni field to drill
up to 4 new gas wells and then to the Bordei Verde Vest oil
field to drill 15 new wells in 2008/9.
Honduras
OCL has initiated the process of acquiring exploration lands
in undisclosed parts of Honduras. The Company's decision to
commit resources to Honduras was based on the results of
extensive geologic and remote sensing studies carried out
over the last 14 months. Oracle Energy's preliminary
evaluation indicates significant oil and gas potential at
reasonable depths.
Recent News and Press Releases
SEDAR Interim Financial Statements SEDAR Interim Financial
Statements
Oracle Energy to join Ventum Oil in redevelopment field
Oracle JV to frac, test J. Vela well with 45 days
Oracle Energy arranges 5.3-million-unit financing
Oracle operator to produce gas at Nadlac No. 3 well
Oracle Energy appoints Green as director and COO
Oracle Energy to test J. Vela No. 1 well
Oracle Energy operator reaches total depth at J. Vela
Management TeamNasim
Tyab
Position: President, Oracle Energy Corp.
Mr. Tyab is a business leader with strong background in
corporate development, finance and strategic planning. He
has 17 years experience with public companies including 7
years experience in the oil and gas sector. To date, he has
raised all of the necessary capital for Oracle Energy as
well as negotiated its material business agreements. He is a
member of the Board since the year 2000.
Mr. Art Greene
Position: Chief Operating Officer
Mr. Green graduated from the University of Saskatchewan with
a B.Eng in mechanical engineering in 1970. He has more than
32 years of experience in the oil and gas industry and has
lived and worked in Canada, the USA, Indonesia, West Africa
and Russia. He has held various positions with Mobil, Exxon
Mobil and Hess. His early career was focused on field
engineering, operations and construction management. He was
the senior executive for Mobil in Equatorial Guinea, West
Africa during the early negotiation, exploration and
development programs and for Hess in Russia during the
initial exploration programs.
Loren D. Currie
Position: Chief Financial Officer and Director
Mr. Currie has been involved in the public market for the
past 18 years. He is presently the CFO of a publicly traded
company on the NEX Exchange. He has extensive experience in
corporate governance and is very knowledgeable in the rules
and regulations of the Exchange and Securities Commissions.
Appointed on October 15, 2004 and reelected to the Board on
October 28, 2005.
Dr. Robert McTavish
Position: Technical Director
From 1992-1999, Dr. McTavish was a Director of Balkan Gas
and Oil Company Ltd., which later became Consolidated
Energy. He also set up Frontier Petroleum Services Corp. in
1985, becoming chairman in 2001. In 2004, he became Managing
Director of Tay Petroleum Ltd., Scotland. As a professional
geologist, Dr. McTavish brings to the company more than 35
years of experience in the oil and gas industry. He has
worked throughout the Middle East, Europe, N.Africa,
Southeast Asia, the USA and Australia with such companies as
CONOCO and West Australian Petroleum. Appointed on February
8, 2005 and elected to the Board on October 28, 2005.
SEDAR FilingsOCL filings
with SEDAR can be found
here.
All Fillings are current and the Company is fully
reporting.
FORWARD LOOKING STATEMENTS
This report includes forward-looking statements that
reflect Oracle Energy Corp. current expectations about its
future results, performance, prospects and opportunities.
Oracle Energy Corp. has tried to identify these
forward-looking statements by using words and phrases such
as "may," "will," "expects," "anticipates," "believes,"
"intends," "estimates," "plan," "should," "typical,"
"preliminary," "we are confident" or similar expressions.
These forward-looking statements are based on information
currently available and are subject to a number of risks,
uncertainties and other factors that could cause Oracle
Energy Corp.'s actual results, performance, prospects or
opportunities to differ materially from those expressed
in, or implied by, these forward-looking statements. These
risks, uncertainties and other factors include, without
limitation, the Company's growth expectations and ongoing
funding requirements, and specifically, the Company's
growth prospects with scalable customers, and those
outlined above. Other risks include the Company's limited
operating history, the Company's history of operating
losses, consumers' acceptance, the Company's use of
licensed technologies, risk of increased competition, the
potential need for additional financing, the terms and
conditions of any financing that is consummated, the
limited trading market for the Company's securities, the
possible volatility of the Company's stock price, the
concentration of ownership, and the potential fluctuation
in the Company's operating results.
Disclaimer
AllPennyStocks.com feature stock reports are intended to be
stock ideas, NOT recommendations. Please do your own
research before investing. It is crucial that you at least
look at current SEC filings and read the latest press
releases. Information contained in this report was extracted
from current documents filed with the SEC, the company web
site and other publicly available sources deemed reliable.
For more information see our disclaimer section, a link of
which can be found on our web site. This document contains
forward-looking statements, particularly as related to the
business plans of the Company, within the meaning of Section
27A of the Securities Act of 1933 and Sections 21E of the
Securities Exchange Act of 1934, and are subject to the safe
harbor created by these sections. Actual results may differ
materially from the Company's expectations and estimates.
This is an advertisement for Oracle Energy Corp. The purpose
of this advertisement, like any advertising, is to provide
coverage and awareness for the company. The information
provided in this advertisement is not intended for
distribution to, or use by, any person or entity in any
jurisdiction or country where such distribution or use would
be contrary to law or regulation or which would subject us
to any registration requirement within such jurisdiction or
country.
© 1999-2008 AllPennyStocks.com. All rights reserved.
AllPennyStocks.com is not a Registered Broker/Dealer or
Financial Advisor, nor do we hold ourselves out to be. All
materials presented on our web site and individual reports
released to the public through this web site, e-mail or any
other means of transmission are not to be regarded as
investment advice and are only for informative purposes.
Before making a purchase or sale of any securities featured
on our web site or mentioned in our reports, we strongly
encourage and recommend consultation with a registered
securities representative. This is not to be construed as a
solicitation or recommendation to buy or sell securities. As
with any stock, companies we select to profile involve a
degree of investment risk and volatility. Particularly
Small-Caps and OTC-BB stocks. All investors are cautioned
that they may lose all or a portion of their investment if
they decide to make a purchase in any of our profiled
companies. Past performance of our profiled stocks is not
indicative of future results. The accuracy or completeness
of the information on our web site or within our reports is
only as reliable as the sources they were obtained from. The
profile and opinions expressed herein are expressed as of
the date the profile is posted on site and are subject to
change without notice. No investor should assume that
reliance on the views; opinions or recommendations contained
herein will produce profitable results. AllPennyStocks.com
may hold positions in securities mentioned herein, and may
make purchases or sales in such securities featured on our
web site or within our reports. In order to be in full
compliance with the Securities Act of 1933, Section 17(b),
AllPennyStocks.com will disclose in it's disclaimer, what,
if any compensation was received for our efforts in
researching, presenting and disseminating this information
to our subscriber database and featuring the report on the
AllPennyStocks.com web site. AllPennyStocks.com has been
compensated three thousand seven hundred dollars in July
2006, three thousand four hundred dollars in August 2006,
three thousand two hundred dollars in December 2006, ten
thousand six hundred in May 2007 and five thousand dollars
in May 2008 by the
company for its efforts in presenting the OCL profile on its
web site and distributing it to its database of subscribers
as well as other services. AllPennyStocks.com may decide to
purchase or sell shares on a voluntary basis in the open
market before, during or after the profiling period of this
report. As of the profile date, no shares have been sold.
Information presented on our web site and within our reports
contain "forward looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934. Any statements that
express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives,
goals, assumptions or future events or performance are not
statements of historical fact and may be "forward looking
statements." Forward looking statements are based on
expectations, estimates and projections at the time the
statements are made that involve a number of risks and
uncertainties which could cause actual results or events to
differ materially from those presently anticipated. Forward
looking statements in this action may be identified through
the use of words such as “expects’”, “will,” “anticipates,”
“estimates, “believes,” or that by statements indicating
certain actions “may,” “could,” or “might” occur.
THE READER SHOULD VERIFY ALL CLAIMS AND DO THEIR OWN DUE
DILIGENCE BEFORE INVESTING IN ANY SECURITIES MENTIONED.
INVESTING IN SMALL CAP SECURITIES IS SPECULATIVE AND CARRIES
A HIGH DEGREE OF RISK.
We encourage our readers to invest carefully and read the
investor information available at the web sites of the
Securities and Exchange Commission (SEC) at:
http://www.sec.gov and/or the National Association of
Securities Dealers (NASD) at:
http://www.nasd.com. Readers can review all public
filings by companies at the SEC's EDGAR page. The NASD has
published information on how to invest carefully at its web
site.
|
|
