Doral Energy Corp. (OTCBB: DRLY): By identifying and leveraging established but under-exploited producing assets with strong proven developed reserves (PDPs), the Company can increase the value of the assets and generate very attractive returns on capital investment. This goal is achieved by acquiring producing properties that are operating below their potential, either due to outdated technology, failure to keep up with maintenance required for optimal production, or lack of access to growth capital to conduct new drilling on proven undeveloped reserves (PUDs).
Website: doralenergycorp.com Share Structure:
Shares Outstanding: 96.54M
Float: 59.51M
% Held by Insiders: 38.37%
as of June 18, 2010
Latest 10Q: Website: otcmarkets.com
Doral focuses on acquisitions in the Permian Basin, where 100's of these small "mom and pop" operations are scattered all over rich oil reserves. The Permian Basin, a massive oil and natural gas producing area that stretches from west Texas to southeast New Mexico, has produced more than 300 million barrels of oil over the past 80 years. Yet the Bureau of Economic Geology of the University of Texas at Austin estimates that an additional 75 Billion barrels are still waiting to be drilled. The Permian Basin in second only to Alaska in proven reserves of domestic oil.
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