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A GLOBAL RESOURCE COMPANY
PROFILE
CAYC IS A PUBLICLY TRADED COMPANY.
Caye Chapel, Inc. (OTC-BB-CAYC) recently acquired privately owned
Churchill Resources, Inc. (Churchill). Included in the Churchill
acquisition, were 800,000 shares of publicly traded Titan Energy
Corp, Inc. (OTC-BB-TANC) and a minority interest in Oilex, Inc. (OTC-
BB- OLEX). TANC currently has 650 wells on a 4,500 acre lease with
estimated proven reserves of 22 million barrels of recoverable oil
in the Corsicana field, which is located approximately 50 miles south
of Dallas, Texas. Additionally, TANC manufactures and sells Portable
Swabbing Units at a price of $125,000 each. These units are designed
to recover oil at a fraction of the cost of all previously known
production methods. By far, TANC's greatest asset lies in the
Eromanga Basin in Queens Land, Australia on ATP 615, where TANC owns
100% of the working interest on approximately 12.9 million acre oil
and gas concession. The significance of this asset can be realized
through the fact that on ATP 615 lies one of the largest known
geological grabens in the world. One of the structures stretches out
60 miles, making it twice the size of the Persian Gulf graben which
currently holds the largest known oil reserves. Third party estimates
of ATP 615 have identified approximately 26 geological anomalies.
Based on only 2 discoveries out of a potential of 26 anomalies , 500
BCF gas equivalent per new field could generate revenues in excess of
$1.4 billion after field development; with an approximate 80% net
revenue lease and an average gas price of $2.00 per mcf.
On February 3, 1998, CAYC acquired all of the assets of Great Plains,
Inc. . Great Plains owns over 1,800 shallow oil wells located on
approximately 40,000 gross acres of oil, gas and mineral leases in 15
separate oil fields in South Central Texas. An independent third
party engineering study estimates that the recoverable Proved-
Producing reserves from the field to be 19,441,932 gross barrels of
oil. The Proved Non-Producing reserves (behind pipe) are estimated
to be 1,838,000 gross barrels of oil. Total third party independent
reserve estimates for Proved-Producing, Proved-Non Producing and
Probable Oil Production attributable to CAYC interest (from the Great
Plains asset acquisition) from the 15 fields is 35,123,932 gross
barrels, with cumulative estimated future revenue potential of $526.5
million at a $15 barrel benchmark basis.
On February 25, 1998 CAYC entered into an agreement with publicly
held Oilex, Inc. (OTC-BB- OLEX) for the issuance of a $2 million
convertible debenture, convertible into OLEX shares at $2 per share.
OLEX has already received $250,000 of the funding with the balance
being provided as OLEX's cash flow needs are presented to CAYC. CAYC
already owns a minority interest in OLEX and announced that it is
accumulating additional shares in the open market place. OLEX owns
600 ñ wells, approximately $13.5 million in gross assets, no long
term debt, 48 million ñ acre giant overriding royalty in Australia
and owns all of its field and office equipment outright, keeping
OLEX debt free with cash flow.
Complementing all previous acquisitions, CAYC signed a letter of
intent on March 3, 1998 to acquire privately owned McCormick
Drilling Co., Inc.(MDI) based in Oil City, LA and it's wholly owned
subsidiaries for $4.5 million. MDI owns 100% of the working
interest in 43 leases, with over 400 oil and gas wells with reserve
estimates in excess of 25 million barrels of recoverable oil. In
addition to the oil and gas leases MDI also owns 3 fully equipped
drilling rigs and transport equipment which are locked in on long
term drilling contracts. MDI in 1997 had gross revenues in excess of
$3 million, generating approximately $1.2 million in profit.
On March 19, 1998 CAYC announced that it had entered into
discussions with the Board of Oilex for a possible consolidation of
the two entities. OLEX has approximately $14 million in net assets,
owns 600 ñ wells, no long term debt and owns all of its field and
office equipment outright. OLEX also has an overriding royalty
interest in a 48 million ñ acre Australian oil and gas concession and
12,600,000 barrels of estimated recoverable oil.
CAYC 1998 PRIORITIES
======================
GREAT PLAINS--APPLY PRODUCTION TECHNOLOGIES TO ASSETS ACQUIRED.
McCORMICK DRILLING--SECURE ADDITIONAL DRILLING CONTRACTS, WHILE
ENHANCING PRODUCTION.
OILEX--INCREASE PORTABLE SWABBING PRODUCTION, DRILL NEW INFIELD
WELLS AND INITIATE THE WESTVIRGINIA GAS PROJECT.
STRENGTHEN BOARD,MANAGEMENT TEAM AND OFFICERS.
ARRANGE TO PURSUE OUR FIVE YEAR REVENUE PLAN THROUGH AN INTEGRATED
INVESTMENT BANKER AS A FUNDING AND FINANCIAL MARKET PARTNER.
BROADEN SHAREHOLDER BASE.
COMMENCE INSTITUTIONAL RESEARCH REPORTS.
SECURE-CAYC'S LISTING TO NASDAQ OR AMEX.
GROWTH-ACQUIRE CASH FLOW, RESERVES AND ASSETS THROUGH STRATEGIC
ACQUISITION(S)
COMBINED CAYC ASSETS
PROFORMA PROJECTIONS
Calculated in
Millions of Dollars 1998 1999 2000 2001 2002 2003
=================================================================
CAPITAL
SPENDING $4 mil $5 mil $6 mil $5 mil $5 mil -----
REVENUES $8 mil $15 mil $25 mil $50 mil $70 mil $80 mil
CASH FLOW $3 mil $5 mil $9 mil $25 mil $30 mil $40 mil
=================================================================
SHARES
OUTSTANDING
INCLUDES
ACQUISITIONS 20 mil 22 mil 25 mil 27 mil 30 mil 30 mil
RESERVE PROFILE ESTIMATES
CURRENT AND PENDING ACQUISITION (S)
CORPORATION OIL GAS ACREAGE WELLS
PROVEN
RESERVES
================================================================
GREAT PLAINS, INC. 21,200,000 40,000 1800
McCORMICK DRILLING 16,185,000 2,191 421
OILEX, INC. 12,632,000 5.3 BCF 48,943,051 602
================================================================
TOTAL 50,017,000 5.3 BCF 48,985,242 2823
CORPORATE INFORMATION: Incorporated in the State of Nevada,
November 8, 1994
CAYC is a publicly traded company.
Trading Symbol CAYC
COMPANY CONTACT: Jay Johnson
North American Corporate Consultants, Inc
24835 Rancho Santa Teresa Dr. Suite # 102
Ramona, CA 92056
760- 788-6300 (PH)
Trading Exchange: OTC- Bulliten Board
Year End December 31.
Authorized Shares 50,000,000 Common $.001 par value
LEGAL:
Shawn F. Hackman
1600 East Desert Road. Suite # 206-A
Las Vegas, Nevada 89109
702- 732-2253 (PH)
AUDITORS:
Merdinger, Fruchter, Rosen & Corso, P.C.
888 Seventh Avenue
New York, NY 10126
212- 757-8400 (PH)
TRANSFER AGENT:
Alpha Tech Stock Transfer
4505 South Wasatch Blvd. Suite # 205
Salt Lake City, Utah 84121
801- 278-1777 ( PH)
INVESTMENT BANKERS:
Baron-Marney Capital, Ltd.
Kevin Murphy
3714 East Bay Drive, NW
Gig Harbor, WA 98335
253- 851-4744 (PH)
Fortress Financial Group
Mark Kieft
600 West Broadway Suite # 1400
San Diego, CA 92101
800-545-3345 ( PH)
PUBLIC/ INVESTOR RELATIONS
C. Jones & Co.
6977 E. Chestnut Hill Street
Highlands Ranch, CO 80126
303- 470-8783 ( PH) |
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