check ASRG, it may jump within 10 days.
DD for NEW ASRG Investors.
ASPEN GROUP RESOURCES CORPORATION (OTC/BB: ASRG); formerly Cotton Valley
Resources OTC/BB KTNV.
** Fully Reporting (formerly AMEX listed)
** Profitable last 3 consecutive quarters with an excellent annual report on the way under new,
highly experienced management who has turned company around (see resumes below)
** Aspen owns/has interests in about 1240 PRODUCING properties
** Stock is currently trading at a fraction of breakup value, (as of 4/17/00) far below the industry
norm (see Dominick and Dominick report below)
** Stock is currently trading at a Price to Book ratio of .5X compared to industry average of 3.4x
(Source: Market
Guide/ProVestor Plus Company Report 2/4/2000) The book value will also be increased
significantly upon release of the annual report. Estimated current book value is over $1.00 USD
**Recently acquired a 25Million USD revolving loan fro "Local Oklahoma Bank" and "Bank
United"
**Daily Production increased to over 7,200 MMCFe/day **Proven Reserves increased 238%
since January 1, 2000 -- **Aspen Group continues 100% drilling success with new wells.(Sources:
CEO, Press releases)
RESEARCH REPORT ON ASPEN RESOURCES : "BUY" Rating and price target of .75 to 1.00
USD
**Prepared by Dominick & Dominick Securities Inc.
Members of the Toronto, Vancouver & Alberta Stock Exchanges and the Investment Dealers
Association of Canada, 150 York Street, Suite 1174, Toronto, Ontario M5H 3S5 - Telephone
(416) 363-0201 Fax: (416) 366-8279
asgrc.com
**Note: this is prior to additional acquisitions that have added to their net worth (over 500
properties have been acquired since this report was issued) An updated report will be released in
October most likely.
SECTION 2: QUOTES FROM JACK WHEELER' S LAST SHAREHOLDER SPEECH:
** GROWTH FROM 10 TO over 1200 PRODUCING PROPERTIES IN LESS THAN A
YEAR! **"On September 16, 1999, prior to the merger with East Wood Equity Venture, Cotton
Valley Resources had less than Ten (10) Producing Oil or Gas Wells. Aspen Group Resources
today has approximately (today: 1,240) Producing Oil and Gas Properties located in Alabama,
Arkansas, California, Louisiana, Mississippi, Montana, Oklahoma, Kansas, Texas and Wyoming.
Among the (now 1,240) Producing Properties we hold title to, Aspen Group Resources percentage
of ownership interest ranges from 1% to 100%."
** EXCELLENT DRILLING SUCCESS OF BETTER THAN 98% **
"In fact, we have been commercially successful on 58 of 59 Wells since our beginning including 18
of 18 last year and already I am proud to report we are Four (4) for Four (4) in this Millenium.
Aspen Group Resources continues this
strategy today. We are currently evaluating nine drilling proposals offsetting our present production."
(All of their wells since this time have been sucessful and Aspen is in fact operating ahead of
schedule)
** VALUATION OF ABOUT $100 MILLION WILL GROW WITH SMART
ACQUISITONS ** (Since this Statement, 740 properties have been acquired)
"Almost Five 500 (Now 1,240) Hundred Producing Oil and Gas Properties and an equivalent
number of offset locations have been added to Aspen Group Resources Inventory which can be
conservatively valued at up to $100 Million. What our Shareholders have seen is an increase of
almost $100
million over the net worth of Cotton Valley prior to the acquisition of East Wood Equity Venture
effective July 1, 1999." (Valuation is much higher today dues to recent acquisitions. This information
will be released in the upcoming annual report)
"Management has identified and begun negotiations on Several sets of properites and is currently
making approximately 8 to 1 on their current investments."
** BUSINESS PLAN FEATURES REDUCED RISK YET EXCELLENT GROWTH **
"We believed we could control other risks of the business and enhance our earnings by spreading
our Ownership Interest among a large number of Wells and distributing our value among many
Wells rather than
concentrating value in a few. We believed we could attract Investors, Public and Private, with this
steady, conservative, and profitable Business Philosophy and Plan, and with their help, grow this
Company into a major
power in the Oil and Gas Industry."
** MAXIMIZING SHAREHOLDER VALUE IS TOP PRIORITY **
"Most importantly, we must continue to work to MAXIMIZE SHAREHOLDER VALUE. As you
can see, we are already well into our Strategic Plan for 2000 and we are hard at work planning and
budgeting for 2001 and beyond. One of the
most important, and often the most misunderstood, jobs for the Management Team of a publicly
owned company is communicating with Shareholders and Investment Professionals. Aspen Group
Resources is committed to timely, meaningful and above all, accurate communication
with our Shareholders, Stock Brokers, Analysts and Fund Managers. You have already seen the
start of our commitment." (I can personally vouch for this)
ASRG also proudly reports that it currently has NO LITIGATION PENDING.
** EMPHASIS ON BROKER AND SHAREHOLDER INTERACTION **
"Additionally, we are planning Broker and Shareholder Meetings in many of the major cities and
areas of Aspen Group Resources Stock concentration in North America in order to keep all of you
better informed on the success of
the Company."
** RENEWED ENTHUSIASM FOR THE COMPANY **
"As our Shareholders and Investors have become acquainted with my Staff, our Business Strategy
and our Business Plan, we have seen them once again begin to be enthusiastic Buyers of our
Company's Stock. Additionally,
as we have met with Brokers, Analysts, and Investment Bankers all across North America, we have
been gratified by the reception we have received and their desire to help us continue our success.
Based on these experiences, we are confident we can meet any requirement we may have
for additional capital and we will continue to investigate different means of capital formation."
Follow this link for entire speech: asgrc.com
SECTION 3: MANAGEMENT REPRESENTS EXPERIENCE AND QUALITY
** Jack E. Wheeler was elected as Chairman of the Board, President and Chief Executive Officer
in September 1999. A founding partner of Crown Partners L.L.C. Minerals Division (the
predecessor to East Wood), Mr. Wheeler has more than 25 years experience managing oil and gas
property acquisition, exploration and development. He is a former vice-president of business
development and assistant general counsel of Sonat Exploration Company where he was
responsible for the acquisition of over $1.6 billion of oil and gas property acquisitions. As a vice
president of the St. Paul Companies, Mr. Wheeler had primary responsibility of developing,
overseeing and later divesting St. Paul's $70 million oil and gas investment portfolio. Mr. Wheeler
received bachelor's degrees from Lon Morris College and Texas A&M University, a Master's
degree from the University of Colorado and Juris Doctorate from the University of Houston. He
served with the Fifth Special Forces in Vietnam. Twice nominated for the Congressional Medal of
Honor, Mr. Wheeler was awarded the Silver Star, Purple Heart, Vietnamese Cross of Gallantry,
Soldiers Medal, Bronze Star for Valor, Army Commendation Medal for Valor, the Air Medal and
the Combat Infantryman's Badge.
NOTE- some of this information came from the old IR guy and I just tailored it, added to it, and
updated it. Do your own DD though, and remember... I'm not a broker :)
Hope this helps you guys out...
Caliguy143 |
