To all - Black Tusk Energy -BTU - VSE
Below is a summary of my DD and I believe you may find the link to a conference call I had with the company interesting reading. I look forward to comments particulary negative ones, since I can't find any that have merit to them.
Black Tusk Energy - BTU- - Advanced Company Status (November 16, 1998)
Shares issued: 16,918,976 Exchanges: V
01/05/99 working cap $1,000,000.00 (approx)
Market Cap: 11,931,102
Escrow 375,000
Phone 604 609 9609 Brian -Findlay Director
Phone 403 244 1952 Grant Twanow - Chief Operations Officer
Current trading range .65 to .70 - New highs
1.) May 17, 1999 - Cash flow of $170,000 net per month -oil is 43 gravity
a) will increase by 25% or better when new pump engine is installed(deep well)
b) overhead including salaries less then $25,000.00 per month
2.) Debt- 3 million non convertible debenture at 12% .
3.) Company was a shell three years ago and there is no stock below .35
a) Share buyback on market 815,000 started in Nov 1998 at an average of .35
As of March 31, 1999, the Company has bought back 362,000 shares of its issued capital.
b) insiders, friends and family hold 75% of stock and still buying
c) Brian Findlay was part of a PP at .50 (no attached warrants) on Dec. 16, 1998 when stock was trading at a weak .40
4.) No further dilution of stock to fund the upcoming projects.
5.) Incentive options @.40 .50 .60 and May 28, 1999 - Company issues 400,000 options at .70
6.) There is no investor relations activity at this time.
7.) In the late summer they will twin a well on their lease at Brazeau River in the Shunda Zone.
a) they own the road, the pipeline, and Chevron will has committed to taking all production and hold 100% of the rights ( the company will announce that drilling will commence within thirty days later this week)
b) an independent report comparing core samples from two producing wells to theirs has concluded that the proposed well has a larger pay zone then both of the other producers and should bring in more then 10 million cubic feet of gas per day.
c) I have this report in my possession and had my Cousin, who is a geologist and owns a number of small producing wells in Bakersfield California analyze it, I informed him I was going to bet the farm on it. He concluded that the report was valid and made the following comment. " That is one hell of a pay zone, it's a no-brainer, the gas is there!"
Black Tusk Energy - BTU- - Advanced Company Status (November 16, 1998)
Shares issued: 16,918,976 Exchanges: V
01/05/99 working cap $1,000,000.00 (approx)
Market Cap: 11,931,102
Escrow 375,000
Phone 604 609 9609 Brian -Findlay Director
Phone 403 244 1952 Grant Twanow - Chief Operations Officer
Current trading range .65 to .70 - New highs
1.) May 17, 1999 - Cash flow of $170,000 net per month -oil is 43 gravity
a) will increase by 25% or better when new pump engine is installed(deep well)
b) overhead including salaries less then $25,000.00 per month
2.) Debt- 3 million non convertible debenture at 12% .
3.) Company was a shell three years ago and there is no stock below .35
a) Share buyback on market 815,000 started in Nov 1998 at an average of .35
As of March 31, 1999, the Company has bought back 362,000 shares of its issued capital.
b) insiders, friends and family hold 75% of stock and still buying
c) Brian Findlay was part of a PP at .50 (no attached warrants) on Dec. 16, 1998 when stock was trading at a weak .40
4.) No further dilution of stock to fund the upcoming projects.
5.) Incentive options @.40 .50 .60 and May 28, 1999 - Company issues 400,000 options at .70
6.) There is no investor relations activity at this time.
7.) In the late summer they will twin a well on their lease at Brazeau River in the Shunda Zone.
a) they own the road, the pipeline, and Chevron will has committed to taking all production and hold 100% of the rights ( the company will announce that drilling will commence within thirty days later this week)
b) an independent report comparing core samples from two producing wells to theirs has concluded that the proposed well has a larger pay zone then both of the other producers and should bring in more then 10 million cubic feet of gas per day.
c) I have this report in my possession and had my Cousin, who is a geologist and owns a number of small producing wells in Bakersfield California analyze it, I informed him I was going to bet the farm on it. He concluded that the report was valid and made the following comment. " That is one hell of a pay zone, it's a no-brainer, the gas is there!"
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