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Technology Stocks : Blank Check IPOs (SPACS) -- Ignore unavailable to you. Want to Upgrade?

To: jrhana who wrote (1503)	1/27/2008 4:22:01 PM
From: jrhana	Read Replies (2) \| Respond to of 3862

I continue to be amazed at the scope and ambition that Marshall Reynolds is demonstrating for ESA. Apparently there is a huge amount of natural gas underneath Appalachia <Good news for US energy reserves: Giant gas field found in the Appalachia "Adam Smeltz, the author of the article, wrote that it could give the U.S. some additional time to solve the problem of energy dependence. “Engelder said the gas, lodged 6,000 to 7,000 feet underground, promises the U.S. ‘a certain amount of energy security down the line.’ ‘This is America’s resource,’ he said, likening the find to the oil discoveries near Oil City in the early 1900s. ‘The impact that this has on America is immeasurable.’”> Message 24233552 I just came across some interesting comments by Denny Harton the president of ESA target GasSearch Drilling. <GasSearch Drilling Services of Parkersburg has ordered five of the rigs, at a cost of about $2.7 million each, to provide natural gas for consumption statewide and outside the Mountain State, said GasSearch president Denny Harton. The five rigs are being built in Oklahoma. The hydraulic pull-down rigs are safe, efficient, fast and environmentally friendly, Harton said. He expects 76 workers to be hired by February to operate the drilling equipment. "We are excited about the ability to bring this type of opportunity to West Virginia's workforce," Harton said. GasSearch has opened a shop in Hurricane, Putnam County, where some of the company's work will be done. Because of new technology, the rigs will be capable of drilling to depths of 8,000 feet and horizontally at any depth, Harton said. The rigs, which are quicker and more efficient than conventional rigs, said Harton, will be used to meet the growing demand for natural gas. Harton said his company's biggest customer is Cabot Oil & Gas. Harton said one half of West Virginia's gas reserves remain in the state, while the other half is exported to places like Washington, D.C., Pittsburgh and New York City. "We need to improve our domestic supply" of natural gas, Harton said. Harton, a former West Virginia Oil and Gas Man of the Year, said West Virginia has the natural gas and coal resources to provide the United States with its energy requirements.> zoominfo.com Harton will be a key part of ESA-executive vice president and on the BOD. biz.yahoo.com From what I understand Mr. Harton holds several important patents related to new techniques for the extraction of natural gas. Some of Mr. Harton's comments relate to another integral part of ESA <Denny Harton, president of Gas Search Corp. indicated that about $1 billion will be spent during 2006 in the West Virginia oil and gas fields. Drilling and pipe lining is at a frenzied pace in many sections although in certain large areas there is no pipeline capacity (or so it is reported).> But not to worry, ESA will will be constructing and supplying pipeline capacity. From what I understand, James E. Shafer played an important part in constructing the Alaskan pipeline. He moved to his native West Virginia because he felt that is now where the action is. biz.yahoo.com To me the urgent need for efficient and profitable sources of domestically produced energy is completely obvious. <"The United States, for example, unfortunately has very little time left, very little reserves of its own oil," Chavez said in a speech,> reuters.com <SOFIA, Bulgaria -- Russian President Vladimir Putin moved to redraw Europe's energy map on Friday, winning Bulgaria's support for an ambitious gas pipeline that would boost Moscow's control over supplies to the West. Putin cut the deal during a trip to the Bulgarian capital with the help of his presumed successor, Dmitry Medvedev, who chairs the Russian state-controlled gas monopoly that is extending its grip across Europe.> miamiherald.com SPAC investing is of course murky and chancy to say the least. There seem to be an ocean of mediocre SPACS with a few scattered jewels thrown in. But I must say that the SPAC structure seems to be ideal for Marshall Reynolds' ESA ambitions: To form a powerful, profitable, domestic company to supply natural gas to the Eastern U.S. and to put it together from multiple crucical and choice pieces where the whole will be much greater than the sum of its parts. There will be more to come and so much uncertainty remains. But so far I am delighted with what has come public to date. So far so good in other words. I believe Marshall Reynolds eventual goal is have the company taken out north of 30 dollars. The record of his lifetime shows a history of over achieving in whatever he sets out to do. Of course, short market fluctuations could impact the ESA share price negatively, but I personally remain confident of the ST, IT and LT future of ESA.