RE CECX: It seems to be coming to the end of its rope.
From CECX 10-K
EMPLOYEES AND OFFICE FACILITIES
As of November 10, 1997, the Company, through its subsidiaries, employed 6 personnel.
11. Future of the Company:
As noted in Note 4 to the financial statements, the Company recently sold 84% of its proved oil and gas reserves and its Texas pipeline. The Company's primary remaining asset is its gas sales contract with Lone Star, which expires on May 31, 1999. Although the Company is seeking investments in the energy sector, including oil and gas properties, the current market is a seller's market and the Company may not be able to acquire such investments at a favorable price. There are also many competitors with resources greater than those of the Company. If the Company does not acquire additional assets, its Board of Directors may decide to pursue other courses of action, including but not limited to liquidation, sale of assets, merger or other reorganization. |
