---SPECIAL ALERT --- We just received this... Have a read and let me know what you think. Thought it would make a good addition to this thread. Happy Investing!!
Kev & Kel
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SMALLCAPNEWSWIRE SPECIAL ALERT:
(OTC Bulletin Board) SYMBOL: KISS
TODAY'S CLOSING BID PRICE $ .40
52 WEEK HI: 2.50 52 WEEK LOW: .25
CORPORATE SUMMARY
Kismet Energy Corp. (OTCBB: KISS) is a junior oil and gas exploration and
development company focused on exploration and production in high reward
areas in both California and Oklahoma. The company's exploration thrust in
1999 will be focused on areas exhibiting long life reserves, liquid rich
natural gas, and contiguous tracks of undeveloped land. Kismet Energy
endeavors to build long-term shareholder value through acquisition and
development of oil and natural gas assets, and through exploration and
development of new oil and gas prospects.
STRATEGIC RELATIONSHIPS
Kismet has aligned themselves with major players within the oil and gas
sector that are operating the company's largest joint venture projects.
KISS has a 20% working interest in the Midway Peak Prospect located in the
San Joaquin Valley in California with Nuevo Energy (NYSE: NEV), a major
oil and gas company, and operator of the project with 70% working
interest. KISMET & NEV control 9,000 acres in the Valley and will be
drilling adjacent to billion barrel oilfields. According to an independent
engineering report, Midway peak prospect could contain reserves of upto 9
trillion cubic feet of gas and 240 million barrels of oil if the structure
contains hydrocarbons to 18,000 feet.
Additionally, KISMET has a 70% interest in the Lake Wells prospect with
working partner Energas holding a 30% stake in the project. This is
primarily a natural gas play with over 20 bcf potential.
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The information presented above was furnished to SmallcapNewswire.com by
the Company.
INVESTMENT OPPORTUNITY
An overview of the energy sector reveals incredible performance with
regard to stock price and earnings. Demand for natural gas is at all time
high. This fact ties right in with oil and gas prices sitting at their
highest levels in 21 months (Oil over $21/barrel and Gas over $2.75/mcf).
Examples of companies benefiting from the dual resource play of oil and
natural gas include: Kerr-McGee (NYSE: KMG), Apache Corp. (NYSE: APA),
Burlington Resources (NYSE: BR), and Coastal Corp. (NYSE: CGP). Typically,
energy issues have doubled and in some cases tripled from their 52-week
lows. Most of the press for this industry has been buzzing of late with
the discussion of takeovers, both the announced and speculated variety.
One common factor in these takeover deals is that reserves are being
valued at almost 40% more now than in recent years. News stories regarding
oil and gas stocks on the major wire services (Reuters, for example) quote
analysts who are reconfirming buy ratings.
The natural gas plays near Midway Peak prospect are making news everyday.
Chevron (CHV:NYSE) made a big discovery in the Point of Rocks sands nearby
Midway Peak Prospect. Berkley Petroleum (BKP:TSE), Hilton Petroleum
(HTP:VSE), Kookaburra Resources (KOB:TSE) and partners are drilling
Bellevue replacement well in a northeast field targeting huge gas reserves
at depth. A recent blowout at Bellevue well #1 gives an indication of
enormous reserves of hydrocarbons at depth in the San Joaquin Valley.
Kismet has drilled, cased and cemented one well so far in Arkoma Basin in
Oklahoma which is a home to Kinta field with 3 trillion cubic feet of gas
in reserves. The results from this well should be out in 10 days.
Kismet's oil and gas joint ventures are impressive with their "low risk /
high reward" overtones. Share prices should react with any positive
developments relating to drilling and discovery. Speculators could
consider Kismet shares undervalued based upon potential reserves alone.
The stock price has been forming a base over the last 60 days in a tight
range near its 52-week low. The stock could be described as "struggling to
drop" while forming an apparent base of support. Kismet has not had any
type of bounce, as it appears investors have been playing the majors.
VALUATION
Kismet Energy is quickly building a portfolio of oil and gas properties,
which are geographically focused, and seeking to generate high netback
production and cash flow. The goal for 1999 is to substantially increase
reserves and production with low finding and on stream costs.
KISS has approximately 8.5 million shares outstanding with a float of
approximately 6.2 million. Market cap is roughly 3 million. Kismet's 20 %
working interest in the San Joaquin Valley with Nuevo Energy (NYSE) could
easily boom the stock 20 fold with any major discovery in the Point of
Rocks sands formation in San Joaquin Valley in California. At the present
level of trading, (40 cents) there seems to be very little downside risk
with ample room for price recovery to highs of over $2.00 less than a year
ago. Based on the Company's data and the recent strategic alliances with
well-capitalized oil and gas producers, Kismet Energy could soon strike
oil and gas along with cash flow and profits for investors.
For further information please contact Company officials:
Tel: 1.888.722.1295
or visit the companies' web-site at: kismetenergy.com
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