Sent this out Aug.25
STB hit $1.22 this week (52wk hi) and is currently @ $1.15 with good bids.
Essam.
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STB - Stanford Energy Corp
Last @ .91
Traded high volume and good price increase last few days.
52wk lo/hi: .21-1.02
Address: Suite 2010, 700 - 6th Avenue S.W. Calgary AB Canada T2P 0T8
Telephone:(403) 263-6320
Website: stanfordenergy.com
Canaccord 1,088,320 @ .83 average in the last month alone.
Bought over 500,000 in the last WEEK!
Oliver 303,800 @ .85 in the last month.
Remember PRX, MSR etc...
Model Portfolio Transaction:
I'll be putting in a bid to buy 2000 shares @ .95 or less tomorrow.
Good Luck,
Essam.
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Stanford Energy Corporation - Acquisition
Stanford Energy Corporation STB
Shares issued 23,243,918 Aug 19 close $0.94
Wed 20 Aug 97 Acquisition
See Benz Energy Ltd (BZG) Property Agreement
The VSE has accepted for filing documentation pertaining to participation
agreements dated June 26 and June 27 1997, between Texstar Petroleum Inc, a
wholly owned subsidiary of Benz Energy Ltd, Hilton Petroleum Ltd, and
Stanford Energy Corp, whereby Stanford will acquire from Texstar a 19%
working interest in the southeast Monte Christo prospect, in Hidalgo
County, Texas, by paying 25.33% of both the land acquisition costs and the
cost to drill the first well on the prospect to casing point, estimated at
US$516,385. Hilton will acquire a 5% working interest in this prospect by
paying 6.67% of both the land acquisition costs and the cost to drill the
first well on the prospect to casing point, estimated at US$136,332.
Stanford will also acquire from Texstar a 10% working interest in the
Jennings prospect in Jefferson-Davis Parish, Louisiana, by paying 12.408%
of both the land acquisition costs and the cost to drill the first well on
the prospect to casing point, estimated at US$429,130. Hilton will acquire
a 5% interest in this prospect by paying 6.204% of both the land
acquisition costs and the cost to drill the first well on the prospect to
casing point, estimated at US$214,600.
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Stanford Energy Corporation - News Release
Bow Creek participation and drilling
Stanford Energy Corporation STB
Shares issued 23,243,918 Aug 19 close $0.94
Tue 19 Aug 97 News Release
See Gresham Resources Inc (GRC) News Release
Mr James Glass reports
The company and its partner, Forest Oil Corp have acquired the entire
interest owned by St. Mary Land & Exploration Company and Panterra
Petroleum in the company's Bow Creek 3D survey project, which includes the
South Heart River and South Norwegian Creek prospects, approximately eight
miles southwest of the company's Eland field. (See news in Stockwatch June
28 1997.) The company and Forest have also acquired all the interest of St.
Mary/Panterra in the company's Cupcake prospect. The company (50%) and
Forest (50%) now own or control approximately 20,000 gross acres in Stark
and Billings counties, North Dakota.
In conjunction with Forest the company has entered into an agreement with
STB Energy Inc, a wholly owned subsidiary of Stanford Energy Corp to
jointly explore and develop the Bow Creek survey acreage. By financing the
drilling of three exploratory wells, STB has the right to earn up to an
undivided one third interest in the Bow Creek survey lands that are jointly
owned by the company and Forest.
Interpretation of the Bow Creek 3D survey has identified multiple drillable
prospects, targeting five producing horizons, the Pennsylvanian Tyler,
Upper Mississippian Fryburg, Lower Mississippian Lodgepole, Silurian
Interlake and the Ordovician Red River. Drilling is anticipated to commence
as soon as a drilling rig can be contracted with Forest acting as operator.
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July.31
Normal Course Issuer Bid
The Vancouver Stock Exchange has been advised by the Company that pursuant to a Notice of Intention to make a Normal Course Issuer Bid dated August 1, 1997, it may repurchase for investment purposes up to 1,000,000 shares in its own capital stock. The purchases are to be made through the facilities of the Vancouver Stock Exchange during the period August 1, 1997 to July 31, 1998.
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Stanford Energy Corporation - Options Granted
Stanford Energy Corporation STB
Shares issued 23,243,918 Aug 11 close $0.70
Tue 12 Aug 97 Options Granted
On July 28 1997 directors and employees were granted options on 850,000
shares at $0.61, expiring July 28 2000.
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CURRENT HIGHLIGHTS (Updated August 13, 1997)
Shares O/S: 23.9 Million
Fully Diluted: 28.7 Million
Stock Exchange: VSE
Symbol: STB
52 week H/L: .96 / .20
Bank Debt: None
Stanford Energy Corporation is a junior oil and gas company involved in the exploration, development and production of oil and natural gas in Canada and the United States. Stanford balances production in Canada with large upside potential in the Gulf Coast of the United States (all onshore properties). Currently, the Company has no bank debt, a diverse portfolio of properties in Canada and the United States, and a significant amount of funds available for development and exploration opportunities. Management's focus on seeking undervalued properties should replace the Wildhay production, sold recently for $13.7 million, by investing less than $5 million in its remaining properties. Stanford has been approved to purchase up to 1,000,000 of its common shares (5.8%) from the open market.
CURRENT DRILLING PROGRAM
The Following Prospects Are Slated For Drilling In 1997:
Southeast Monte Christo, Texas (Commenced July)
Jennings Field, Louisiana (Commenced July)
East Morgantown, Mississippi (August)
Goldeneye Prospect, North Dakota (September)
Lahinch, Texas (September)
Piave, Mississippi (December)
CANADIAN PROPERTIES
Alberta
Over the past year Stanford has been acquiring additional shut in gas and land interests in the Peco, Alberta field.
In Peco, Stanford now holds a 90% interest in a liquids rich gas well that is producing at a very stable rate of 425 mcf/d gas plus 15 bbl/d liquids, or 50 BOE/d net to Stanford. This well has a value of about $1.25 million net to Stanford. The Company also holds non-producing Peco assets with a value of over $500,000 based on an evaluation by an independent appraiser.
Stanford has significantly increased its interest in its McLeod River property over the past year. It now holds a 40% interest in one shut in gas well and a 40% interest in one shut in oil well. Stanford also holds a small carried interest in several other area wells. It is estimated that Stanford's interests in McLeod River have a total production capability of about 135 BOE/d.
UNITED STATES PROPERTIES
In the United States, Stanford has an aggressive exploration plan underway that will have a high impact on the company.
Texas
Stanford has a 19% working interest in the Southeast Monte Christo Prospect located in Hidalgo County, Texas.
Reserve potential for the field is expected to be 157 bcf. Drilling commenced July 7, 1997 on the re-entry of an existing well, and will be drilled down dip and off the original structure, to a depth of 17,000 feet. There is 2 bcf of gas existing behind pipe. A review of drill logs and seismic data indicates there is substantial potential to add reserves.
3-D seismic data is currently being evaluated for the Lahinch Prospect, located in south Texas, in which Stanford holds a 21.35% working interest. Drilling of the first prospect well is scheduled for the third/fourth quarter of 1997.
This large deep Wilcox structure, determined from 2-D seismic, has an estimated reserve potential of 24 bcf gas, net to Stanford.
Louisiana
The Company holds a 10% working interest in the Jennings Prospect located in Jefferson-Davis Parish, Louisiana.
3-D seismic has identified a 600-acre fault block that is expected to be productive and prolific. Operations
commenced July 7th on the prospect for the drilling of a 14,500 foot well to test the Nonion Struma and Bol Mex III sands encountered in nearby wells. East of the Jennings Prospect is a similar structure, the Rayne Field, which has produced in excess of 1,000 bcf of gas from a 700-acre closure.
Mississippi Stanford has a 20% working interest in the East Morgantown Prospect, Marion County, Mississippi. The prospect covers 2,958 acres and this feature has produced 198 bcf of gas and 2.4 mmbbls of condensate from the Upper Hosston formation. A test well of 20,500 feet will be drilled in August to test the Lower Hosston and Upper Cotton Valley Sands. This high-impact Prospect has estimated reserve potential of 527 bcf of gas.
Stanford holds a 20% interest in four deep prospects (Smithtown, Piave, Hershey, Marble Creek) with a total estimated potential of 17 million bbl oil and 64 bcf gas net to Stanford's working interest, based on available seismic data. Drilling of the first well is expected in the fourth quarter of 1997. There are several major nearby discoveries (5 to 15 km), which have been made on similar structures using 3-D seismic.
North Dakota
The Company has a joint venture agreement with Forest Oil Corporation for the Goldeneye Prospect. Stanford has a 33.33% working interest under 18,500 square acres. A high-effort 3-D seismic survey over 48 square miles has indicated more than 40 possible drill targets, which include the Lodgepole, Red River, Fryburg, and Interlake sands. Another high-impact prospect, reserve potential for the area is estimated to be between 50 and 75 mmbbls of oil.
Nebraska
Stanford has assembled a 100% interest in a 23,000-acre shallow gas play in Oshkosh, Nebraska. Stanford has already drilled two successful Niobrara wells on the prospect and is testing several old existing wells to determine the economics of a major drilling, equipping, and pipeline program.
In summary, Stanford is constantly evaluating many new exploration and development prospects in the United States and Canada - including major production purchases. To maintain Stanford's growth, Management will continue to seek the acquisition of undervalued properties with large upside potential.
STRATEGIC ALLIANCE WITH BENZ ENERGY LTD.
Management recently made the decision to aggressively pursue large reserve oil and gas pools that, when
successful, will have a major impact on the company and its cash flow. These prospects are mostly in the US Gulf Coast, and are Stanford's primary source of future growth. The Company has aligned itself with a highly successful US Gulf Coast deep play exploration company, Benz Energy Ltd., of Houston, Texas, who will be a major partner and operate most of its US exploration activity. Benz is a major shareholder of Stanford, and the business relationship has helped with Stanford's US involvement. Highlights of Benz Energy Ltd. are:
The President, Prentis B. Tomlinson, Jr., has a track record of finding large oil and gas reserves in the US Gulf Coast. He now leads an energised, skilled team of experienced professionals in his quest to find large new oil and gas pools using leading edge 3-D seismic and CAEX (computer aided exploration) techniques and analysis.
Tomlinson, through Texstar (including predecessors) participated in the drilling of 257 wells with an average depth of 14,735 feet.
Directed the expenditure of US $797,465,000 in drilling.
Operated 122 of 257 wells (47%) with an average depth of 13,366 feet.
Discoveries have produced to date over 23 mmbbls of oil and 1,100 bcf of gas, with a successful well completion rate of 61%.
STANFORD ENERGY CORPORATION
#1305 - 1090 West Georgia Street
Vancouver, BC V6E 3V7
(604) 685-9316 |
