I am aware of some momo's calling ABRG this week, but don't believe this is from one of those groups.LOL IMO, lends credibility, estimates on production, share numbers and organizes current projects:
(COMTEX) B: Investment Opinion: Stock Newsletter of North America
B: Investment Opinion: Stock Newsletter of North America
HOUSTON, Oct 7, 1999 (BUSINESS WIRE) --
Special Recommendation: Ambra Resources Group Inc.
This undervalued company has phenomenal upside potential from
acquisitions and projects under development.
RESOURCE REPORT: GOLD, OIL, & GAS PROJECTS
CURRENT INFORMATION:
Trading Symbol: ABRG.BB
Recent Share Price: $0.045
Shares Outstanding: 50 million.
CURRENT PROJECTS:
Projects in development for new oil & gas production are
conservatively estimated to provide 6,500 cubic feet of gas per day
and 1,115 barrels of oil per day. These estimates would yield daily
cash flow of $28,000 based on commodity prices of $20/bbl oil and
$2/mcf gas.
CURRENT PROJECTS IN DEVELOPMENT:
Red River Bull Bayou Unit, Red River Parish, La.
Bastian Bay Field, Plaquemines Parish, La.
Lake Washington Field, Plaquemines Parish, La.
Charenton Field, St. Mary's Parish, La.
South Barataria Field, Jefferson Parish, La.
Kings Ridge Field, LaFouche Parish, La.
Cameron Meadows Field, Cameron Parish, La.
Coalton Field, Okmulgee County, Okla.
McNeil Ranch Field, Duvall County, Texas.
Log-Pat Field, Scurry County, Texas.
ADDITIONAL PROJECTS:
-- 23 square mile gas field in Cessford Alberta, Canada, has obtained
economic gas production on six of the first seven wells drilled and
over eighty more wells are planned. Funding of this new drilling is
scheduled by the operator, Promax Energy, for November at $3.6 Million.
-- South Louisiana Deep Gas Project was leased in August 1999 and is
presently being structured for participatory interests in drilling an
estimated resource of up to two trillion cubic feet of gas.
-- Marathon Mineral Project, Vancouver Island, Canada: The Mining
Division of Ambra Resources Group has obtained Bonanza Grade Gold
samples from the Paula Vein System. New claims were acquired to extend
and to protect the company's access to massive mineral potential.
ADDITIONAL PROJECTS - COMMENTS:
The South Louisiana Gas Project would yield revenues for Ambra
Resources of $300 million based on a 1/8th participatory interest and a
mid-range production level of one trillion cubic feet.
CORPORATE OVERVIEW
AMBRA RESOURCES has committed, experienced management that has
redesigned the company to become a production company rather than an
exploration company. Ambra and 50% owned partner Venture Oil and Gas
have been acquiring surplus oil and gas projects for over two years.
The current market in these properties has changed significantly with
higher commodity prices. The current inventory of projects held by the
two companies has increased in value and has become more attractive for
participating interests. These conditions should accelerate development
of all projects. An assessment is underway to take Venture Oil and Gas
public which would offer the companies additional financing for further
growth and faster project development.
RECOMMENDATION
A Strong Buy/Hold for the shares is recommended over the next year.
Copyright (C) 1999 Business Wire. All rights reserved.
Distributed via COMTEX.
-0-
CONTACT: Corporate Contact
Ambra Resources Group Inc., corporate offices:
Phone: 800/698-3377 or 604/669-2723
Web Site: ambraresources.com
or
Stock Newsletter of North America
Phone: 877/893-2666
WEB PAGE: businesswire.com
GEOGRAPHY: TEXAS LOUISIANA OKLAHOMA INTERNATIONAL CANADA
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
*** end of story ***
|
