Re: Nevtah / PAMCO / Cybersensor.com
To All (Including those on RB),
I'm not yet invested but have a question. I have read that PAMCO owns 80% of Cybersensor, and Nevtah owns 50% of PAMCO (giving Nevtah by default 40% ownership of Cybersensor). My question is, how can all of this "ownership" be verified? I am not a CPA. So please KISS (keep is simple).
Can anyone point me to some web links, or provide me with SEC or other "legal" information that truly confirms
these relationships. It's not that I don't believe it, I'm just trying to do my DD.
TIA, DRat.
DRat,
Your Statement on ownership is correct, as most of us understand it.
The only place I know of where it is stated in writing, is the March 2, and March 10, Press Releases. (Below)
NTAH is currently Filing the SB2A for Fully Reporting Status. A quick check of FreeEdar did not find any filings for NTAH, yet.... The SB2A will have this information providing the information is correct.
Though I recall many things stated at the Demo in Corsicana, I can't come up with a quote from Management or IR at this time, though I'm sure it was covered. It will be nice to see it spelled out in the SB2A.
I will say over the last year, everything that Ed Corlew has
mentioned about PAMCO / Cybersensor.com, has come to fruition and in spades. In an April Press Release (below) It stated that "Cybersensor anticipates a minimum of 8,000 end-users by the end of 1999 growing exponentially over the next decade.
In October they purchased 11,000 Satellite Communicators from Stellar.
We were told in Corsicana by Stellar, that Stellar would keep up with the demand for Satellite Communicators, if need be Outsourcing to a Manufacturing Facility, like the one Dell uses should the need a rise. They still may build a Facility in the US.
With a little coaxing, and a slip of the tongue, it was mentioned that Stellar sold 10,000 units last year, and they plan on manufacturing 10X that many next year. And if I recall correctly, at least 1/3 of that is anticipated to be for PAMCO.
PM me anytime,
Regards,
JW@KSC
PALM BEACH GARDENS, Fla.--(BUSINESS WIRE)--March 2,
1999--Nevtah Capital Management Corp. (``Nevtah') (NASD OTC:NTAH) and Petroleum Asset Management Co.
(``Pamco') have agreed to shift their current priorities and focus from the acquisition and production of stripper oil well leases to the continued development and sales of Pamco's patented technology to stripper oil and gas well
producers.
The technology will reduce stripper well operating costs to approximately $7-$8 per barrel as well as increase production. The nations 433,171 stripper wells produced more than 350 million barrels of oil in 1997 -- 25% of all
the oil produced in the United States (excluding Alaska).
The Department of Energy (``DOE') is sending a team of engineers to review Pamco's latest system developments.
Pamco has agreed to install a stripper oil and gas system at the DOE's Rocky Mountain Oil Field Testing Centre in
Wyoming. The DOE will then publish the results and information in national publications and its web site. Testing to date has shown that Pamco's patented system has reduced operating costs by 50-80% on stripper oil wells and
increased production from 25-100%. Preliminary testing on stripper methane gas wells has also shown significant cost
and efficiency savings in the removal of water and other operating costs by eliminating the pump jack and utilizing
Pamco's pumping system.
As a result of the change in focus, Nevtah and Pamco have finalized an agreement to revise their Joint Venture
Agreement as previously announced. Nevtah will now acquire 50% of Pamco. In addition, Nevtah has acquired the
exclusive rights to Pamco's technology for all of Europe for all stripper oil and gas well applications as well as
environmental uses in cleaning up contaminated ground water.
The primary marketing focus will be to methane gas producers, which is currently the most profitable and the fastest growing segment of the energy sector. The price of methane gas has proven to be much more stable than the price of oil, and there is an immediate market for the Pamco technology in this area. At an anticipated depth of 2,500 feet, there are at least 200,000 stripper gas wells in the United States alone. There are thousands drilled yearly around the world as countries are now supporting this newly found energy source.
Methane gas is cleaner than natural gas and is generated primarily from beds of coal that release gas as pressure is
released on the beds. The process of drilling makes this gas available for production, but in almost all cases, water
encountered during the drilling process hinders production. Current removal procedures include an assortment of
downhole pumps, as well as pump jacks. The Pamco system provides a cost-effective alternative that creates the
same cost efficiencies that are found on oil applications. The added benefit of ``active' field monitoring capabilities by satellite makes the Pamco system far superior to any known competitor.
According to the often-cited Lundberg Survey, current oil prices are at their lowest level in 25 years and gas prices at their lowest level in 50 years. As a result, Nevtah feels that the various Tower Oil LLC projects are uneconomical at
this time and has decided to suspend its funding of Tower Oil International LLC until oil and gas prices recover. Oil
prices were $22 per barrel in 1997 when Nevtah signed its development agreement with Tower Oil LLC. Since then,
oil has dropped to less than $12 per barrel and as a result, there has been very little interest from the investment
community in funding oil and gas development projects. In addition, Nevtah has also reevaluated its Azerbaijan
Geological Oil Report and determined that the current low oil prices make this project uneconomical. The Company
has therefore decided to drop its option to acquire the oil lease in Azerbaijan.
Once again, the Pamco pumping and monitoring system has proven to reduce stripper oil production costs from about
$14 per barrel to approximately $7-8 per barrel. Similar cost savings are also anticipated in the production of stripper gas wells. Conservative sale estimates of 5,000 stripper oil well systems would generate $32 million in revenue with an additional $20 million in revenues generated from the sale of 2,000 stripper gas well systems.
Nevtah is confident that its current strategy of focusing on the marketing of Pamco's patented technology will have a
major international impact on oil and gas production and costs and provide significant rewards for the Company and
its shareholders.
On behalf of the Board of Directors
Daniel P. Kesonen, President
Nevtah Announces Cybersensor.com VAR Agreement With ORBCOMM
PALM BEACH GARDENS, FLA. (May 10) BUSINESS WIRE -May 10, 1999--Nevtah Capital Management Corp. ("Nevtah") (NASD OTC:NTAH) announced that Cybersensor.com Inc. ("Cybersensor"), a subsidiary of Petroleum Asset Management Co. has become a Value Added Reseller ("VAR") for ORBCOMM Global LP ("ORBCOMM").
Cybersensor will now market its proprietary web based software, CyberVip, to its own customer base as well as ORBCOMM users and VARs on Cybersensor's world wide web server. CyberVip will allow users access to remote locations using their PCs and existing software without special training, expensive field equipment, interfacing or adding additional systems. The Cybersensor system will provide economical two-way communications for a very large variety of industries and applications that cannot afford the present more expensive systems. Cybersensor's technology will open new markets for ORBCOMM and create many opportunities for Cybersensor, other VARs and communication companies that have customers worldwide that require controlling and monitoring applications at economical rates.
ORBCOMM is the second largest Low Earth Orbital Satellite (LEOS) company in the world, specializing in communications of low-level transmission for many industries and currently serving over 100 countries. ORBCOMM, www.orbcomm.com, is a partnership owned by Orbital Sciences Corp. (NYSE: ORB) and Teleglobe Inc. of Canada (NYSE: TGO). The company presently has 32 satellites with plans to send 8 more in orbit this year.
Cybersensor is currently the only web based software Internet server offering direct satellite link and two-way communication capability in one process. The Cybersensor approach will allow a pricing structure far below any competitor having similar capabilities.
As previously announced, Nevtah will acquire 50% of Pamco and will have the rights to use both the Pamco and Cybersensor technologies for Europe. On behalf of the Board of Directors Daniel P. Kesonen, President
CONTACT: Nevtah Capital Management Corp., Palm Beach Gardens
Daniel P. Kesonen, President
561/626-9901
PALM BEACH GARDENS, FLA. (April 26) BUSINESS WIRE -April 26, 1999--Nevtah Capital Management Corp. ("Nevtah") (NASD OTC:NTAH) and Petroleum Asset Management Co. ("Pamco") have formed a new subsidiary called Cybersensor.com to expand and market its patented software for controlling and monitoring equipment from a remote location through the use of wireless satellite and Internet technology.
Cybersensor allows access of user software and programs to connect over the Internet through www.cybersensor.com and communicate directly with Cybersensor's satellite link to a remote location. The Cybersensor system is a low cost installation that requires minimal training and interfacing on the user's part. The system not only monitors equipment but also provides for two-way communication. From a PC using Windows or other software, the user can set parameters and then monitor and control field equipment 24 hours a day worldwide.
Cybersensor provides two-way monitoring, controlling and tracking services through a low-earth orbit satellite-based data communications system. The ability to employ this cost-effective two-way communications system can be used by most industries today. Cybersensor applications include monitoring and controlling stripper oil and gas wells; tank levels, pressures, temperatures and alarm signals; operating equipment and the global tracking of mobile assets.
At a recent global conference in Washington, D.C., there was an extremely high level of interest from a large variety of industries. According to industry and communications officials, the Cybersensor technology is the future direction of monitoring and controlling remote locations for the 21st century. Cybersensor is the first company to introduce this simple, cost-effective solution. Pamco will be the first end user for stripper oil and gas wells with many other companies and industries indicating significant orders as the equipment becomes available this summer. Cybersensor anticipates a minimum of 8,000 end-users by the end of 1999 growing exponentially over the next decade. On behalf of the Board of Directors Daniel P. Kesonen, President
pp/mi*
CONTACT: Nevtah Capital Management Corp., Palm Beach Gardens
Daniel P. Kesonen, 561/626-9901 |
