blue-dolphin.com
American Resources Offshore, Inc. OTC (GASS) biz.yahoo.com
9.7 Mil Float Approx
51.2 O/S
Sec Filings sec.gov
Stock Price .13 - .16
Financial Summary: For the quarter ending 2001-03-31, revenue was 1.79M
Cash Dividend of $0.02 per share payable on July 12, 2001, to stockholders of record on July 2, 2001.
Sec Filings sec.gov
CEO Ivar Siem
801 Travis, Suite 2100
Houston, TX 77002
Phone: (713) 227-7660
Fax: (713) 227-7770
Blue Dolphin Energy Company (Nasdaq: BDCO - news) is the 77% owner of the Company. blue-dolphin.com
2 year outlook: twst.com
blue-dolphin.com
President Bushes administration is moving towards opening another part of the Gulf of Mexico to oil and gas exploration.
AMERICAN RESOURCES OFFSHORE INC (GASS) is an independent oil and gas company engaged in the acquisition, exploration, development, and production of oil and gas properties offshore Louisiana and offshore Texas (the "Gulf Coast Region") and in southeastern Kentucky ("Appalachia" or the "Appalachian Region"). ARO also gathers and markets its natural gas in Appalachia.
Financial Summary: For the quarter ending 2001-03-31, revenue was 1.79M
American Resources Offshore, Inc. (OTC Bulletin Board: GASS - news) reported a 94% increase in revenues to $1,790,000 for the quarter ended March 31, 2001, from $925,000 for the first quarter 2000. The improvement in revenue and net income is due to a 63% increase in commodity prices received from the sales of oil and gas and a 19% increase in oil and gas production volumes.
American Resources Offshore, Inc. is an independent oil and gas company engaged in the exploration, development and production of oil and gas properties in the Gulf Coast region offshore Louisiana and Texas.
The Company owns interests in 27 wells and 42 lease blocks located offshore in the Gulf of Mexico. It sells substantially all of its current oil and gas production through contracts administered by the operators of its properties. The price the Company receives is based on current market prices. During 1999, the Company sold its Appalachian oil and gas properties and operations and its wholly owned subsidiary, Southern Gas Co. of Delaware, Inc., which was involved in the production, gathering, purchasing, processing, transporting and selling of natural gas in the State of Kentucky.
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Check out also GASS's drilling areas:
blue-dolphin.com
West Cameron Block 172 is located 25 miles offshore Louisiana in an average water depth of 40 feet.
South Timbalier Block 211 is located 42 miles offshore Louisiana in an average water depth of 140 feet.
South Timbalier Block 148 is located 30 miles offshore Louisiana in an average water depth of 100 feet and is operated by Newfield Exploration Company.
Ship Shoal Block 150 is located 31 miles offshore Louisiana in an average water depth of 53 feet.
Galveston Blocks 394 and 395 are located 21 miles offshore Texas in an average water depth of 85 feet.
Other leases that contain proven reserves are West Cameron Block 368, offshore Louisiana, accounting for 212 million cubic feet of gas equivalent (Mmcfe); Galveston 213, offshore Texas, accounting for 114 Mmcfe, and Ship Shoal 97, offshore Louisiana, accounting for 876 MMcfe
Interview with GASS CEO Ivar Siem on WallStreetReporter.com
wallstreetreporter.com
Shell and Texaco Deal
BDCO: One project is building a deep water offshore port. There is one deep-water offshore port in the Gulf of Mexico, offshore Louisiana. The Gulf of Mexico is very shallow near shore and the port infrastructure is very poor. Nevertheless, most of the United States’ import of crude oil is coming to the Gulf because the refineries and the consumption are located there. The present practice is to offload large tankers, out in the Gulf of Mexico, into small shuttle tankers, which bring the crude to shore. It is an inefficient and fairly risky process. We can compete with that practice today by building offloading buoys connected to an offshore platform and a pipeline to shore. We have started a project called Petroport, and we have a consortium of Shell and Texaco as a partner in this. We are presently talking to major potential users to get through-put commitments before we start building the facility. We have done all the engineering, and are ready to start the permitting process as soon as we have sufficient commitments, which we hope to have in the next three to six months.
HOUSTON, April 2 /PRNewswire/ -- Blue Dolphin Energy Company (Nasdaq: BDCO - news) reported net income of $.2 million on revenues of $2.2 million for the quarter ended December 31, 2000, compared to a net loss of $2.2 million on revenues of $.9 million for the quarter ended December 31, 1999. The improvement in net income and revenues in the current quarter is primarily due to the Company's 77% ownership interest in American Resources Offshore, Inc. (OTC Bulletin Board: GASS - news) acquired in December 1999. |
