MOAT .05.Profitable.I wonder when investors will find MOAT.Reasons and DD below.
Oil going up,Natural gas going up, cold winter, and maybe War soon in IRAQ, good benefit for this little company MOAT IMO.a Natural gas, and oil producer, little company that not many people know about.DD below.
1)Profitable, 2)Small Floater, 3)Zero dilution for the last three years, 4)No CD,5)Book Value=.06 Total stockholders' equity 1,053,470
6)IMO there is a good short position on MOAT, and manipulation by several MMs.
MOAT will have it's Day IMO.
Revenues up 86%.
We are benefiting from rising commodity prices from a low point in early in 2002, and we anticipate further price improvement as we enter the heating season," Heape said. "We are positioned to deliver peak quantities.
Volume increases were attributable to Castleguard's Minden, La., properties where recompletions have improved production rates. "We are very pleased with the results of our ongoing efforts to recover reserves in Minden and set up additional development with new wells," Scott Heape, Castleguard Chairman, said.
DALLAS--(BUSINESS WIRE)--Nov. 14, 2002--Castleguard Energy (OTCBB:MOAT - News) reported earnings for the third quarter of 2002 of $53,732 ($0.00 per share), compared to $3,852 ($0.00 per share) for the third quarter of 2001.
The earnings improvement was attributable to an 86% growth in revenues and lower financing costs compared to last year. Revenue growth was driven by an increase in natural gas sales volumes of 77% and oil sales volumes of 241% over the earlier quarter and by an improvement in oil prices of 7.2% which was offset by lower gas prices of 10.9%.
Volume increases were attributable to Castleguard's Minden, La., properties where recompletions have improved production rates. "We are very pleased with the results of our ongoing efforts to recover reserves in Minden and set up additional development with new wells," Scott Heape, Castleguard Chairman, said.
For the nine months ended September 30, earnings were down 72% from the prior year which had benefited from record high natural gas prices in the early part of 2001. Castleguard's gas sales for 2002 were 23% higher than 2001, but the positive impact was more than offset by a 54% decline in gas prices. Average gas prices improved this year from $2.36 per Mcf in the first quarter to $2.93 per Mcf in the third quarter.
"We are benefiting from rising commodity prices from a low point in early in 2002, and we anticipate further price improvement as we enter the heating season," Heape said. "We are positioned to deliver peak quantities."
Castleguard Energy, Inc. holds working interests in properties located in Texas, Louisiana and Alabama. Castleguard focuses on development projects, joint working relationships and non-operated properties.
This report includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although Castleguard believes that its expectations are based on reasonable assumptions, it can give no assurance that its goals will be achieved. Important factors that could cause actual results to differ materially from those in the forward-looking statements include political developments in foreign countries, federal and state regulatory developments, the timing and extent of changes in commodity prices, the timing and extent of success in drilling, discovering, developing and producing or acquiring oil and gas reserves, and conditions of the capital and equity markets during the periods covered by the forward-looking statements. Castleguard's periodic reports filed with the Securities and Exchange Commission include a discussion of important factors that could cause actual results to differ materially from those indicated in forward-looking statements.
CASTLEGUARD ENERGY
FINANCIAL & OPERATING
HIGHLIGHTS
Three Months and Nine Months
Ended September 30
(unaudited)
Three Months Nine Months
2002 2001 2002 2001
-------- -------- -------- --------
INCOME STATEMENT DATA
Oil and gas revenue $204,541 $109,739 $559,878 $894,483
-------- -------- -------- --------
Lease operating expense and
taxes 35,541 17,432 96,180 59,222
Depreciation, depletion and
amortization 54,747 21,807 173,404 117,605
General and administrative 27,714 31,519 122,280 216,985
-------- -------- -------- --------
118,002 70,758 391,864 393,812
-------- -------- -------- --------
Income from operations 86,539 38,981 168,014 500,671
Interest and financing costs,
net 10,007 25,131 28,688 90,036
-------- -------- -------- --------
Income before income taxes 76,532 13,850 139,326 410,635
Income taxes 22,800 10,000 41,800 58,000
-------- -------- -------- --------
Net income $53,732 $3,850 $97,526 $352,635
======== ======== ======== ========
Basic earnings per share $0.00 $0.00 $0.01 $0.02
Weighted average shares
outstanding (Millions) 17,284 17,152 17,244 17,087
SALES VOLUMES
Natural gas (Mcf) 50,754 28,639 180,855 147,094
Crude oil (Bbls) 2,130 625 3,322 2,206
AVERAGE SALES PRICE
Natural gas (per Mcf) $2.93 $3.29 $2.64 $5.96
Crude oil (per Bbl) $26.42 $24.65 $24.54 $26.07
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Contact:
Castleguard Energy, Dallas
Bob Honea, 214/361-1755
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Source: Castleguard Energy |
