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MANAGEMENT
Over the past several
months, the Company has been strengthening its corporate governance with the addition of several senior oil and
gas professionals to its management team and Board of Directors. In October 2007, the Company appointed Mr. Ray
Ledesma as its CEO; and recently he also assumed the role of President. In December 2007, the Company recruited
Mr. Randall K. Boatright as Chief Financial Officer and Executive Vice President. Exterra Energy also expanded
the experience of its Board by adding Houston-based Frank Simmen in October 2007. These three individuals have
over 90 years of combined experience in the oil and gas sector.
Click here to learn more about Exterra Energy's Management Team
PROJECTS
The Newark East Barnett Shale gas field is the largest
producing natural gas field in the State of Texas.
The Barnett Shale
is a geological formation consisting of sedimentary rocks of the Mississippian age in the state of Texas. The formation
is estimated to cover 5,000 square miles in at least 17 counties in Texas. Some experts have suggested the Barnett
Shale may be the largest onshore natural gas field in the United States. It is widely estimated to contain as much
as 30 trillion cubic feet of natural gas.
Barnett Shale
Barnett Shale Interests
Exterra owns
working interests in over fifty (50) producing wells in the Barnett Shale with over 9 MMCF of gas production per
day and some condensate . Exterra also has the right to acquire working interests in seven (7) Barnett Shale Wells
that are drilled, cased and ready to be frac stimulated, as well as two (2) Barnett Shale wells that are ready
to be drilled. Click here
to learn more about Exterra's Barnett Shale Interests.
University Lands
Pecos County, Texas.
Exterra owns a 75% working interest in producing oil and gas leases in the West Texas Permian Basin. These leases
include 15 ten-acre tracts in the West Cardinal field located in Pecos County, Texas. This acquisition included
a 12-mile long pipeline and 15 oil wells. A recently completed salt water disposal well will allow this field to
be brought back on production with initial rates of approximately 15 BOPD and 200 MCFPD of gas.
Recent Developments
Press Release Source: Exterra Energy Inc.
June 10, 2008
- Exterra Energy to Bring West Texas Leases to Full Production
HOUSTON, TEXAS--(MARKET WIRE)--Jun 10, 2008 -- Exterra Energy
Inc. (OTC BB:EENR.OB), announced today that the Company has commenced
a start up sequence designed to bring its oil and gas assets in West Texas (Pecos County) back into full production.
Three wells are currently online and are producing an average of 3 to 5 barrels of oil per day with two additional
wells set to return to production imminently. Exterra will continue to reactivate the balance of the wells over
the next several months.
Mar 25, 2008
- Exterra Prepares to Frac RSK-Star #6 Well
Exterra Energy Inc.,
announced that it is preparing to fracture stimulate (frac) the RSK-Star #6 well located in Wise County, Texas
within the core area of the Barnett Shale gas field of North Texas. Two Barnett Shale intervals have been identified
in the RSK-Star #6 well; the Upper Barnett Shale, which is 54 feet thick and the Lower Barnett Shale, which is
334 feet thick. The frac treatment will consist of two stages to treat both intervals. Exterra owns a 20.8% Working
Interest (15.39% Net Revenue Interest) in the RSK-Star #6.. Read more.
Mar 12, 2008
- Exterra Increases Working Interest in Barnett Shale Assets
Exterra Energy Inc.,
announced today that it has increased its Working Interest in 12 producing gas wells in the core area of the Barnett
Shale gas field of North Texas. The Company currently holds Working Interests and Overriding Royalties in over
50 producing gas wells in the Barnett Shale. Exterra purchased additional Working Interests from its existing partners
through a share exchange. Read More.
Dec 10, 2007
- Exterra Successfully Completes McPherson B #1H Well
Exterra Energy Inc.,
is pleased to announce that the Company has successfully completed a frac stimulation of the Barnett Shale - McPherson
B #1H well located in Hill County, Texas. Exterra owns a 75% Working Interest in this well (56.25% Net Revenue
Interest). Read More.
Click here
to read all the news announcements.
In My Opinion
My newest Spotlight,
Exterra Energy, Inc.,
is a young company with everything going for it, to include a highly qualified management team, a very strong industry,
the economy and the timing. The time to invest in oil & gas has never been better, and one way to find such
an investment, that has not already moved too high, is to find a new company.
One of the most
important things about Exterra Energy is being new as a public company. The company became public just last October and only
started trading this past January, opening at $1.12, easing back to about $0.90, then soaring to $1.50 before falling
back to a new low this week at 0.41. This means we have an opportunity to get in at, or very close to the lowest
price ever traded.
Finding a new
oil & gas company, trading at the low, with increasing revenues as the main goal, is exactly what we get in
EENR.
Ray Ledesma,
President, CEO, & Director
of EENR, is
the founder of Star Of Texas Energy Services, Inc. He has structured and funded drilling programs that have resulted in over 200
wells and the discovery of five (5) new gas fields. He has drilled and completed over 90 Barnett Shale Wells since
2001. This is what I call a Captain of the Ship.
The entire management
team has been structured for maximum performance. Not only experts in oil & gas, but also finance and business.
The future of any company depends on the team calling the shots, therefore, make sure to visit the EENR web site,
where you can learn so much more, including management, properties, goals and news.
I've listed
some of the main reasons I like Exterra Energy so much. A "right
time, right place" company.
- A successful management
team that is established with a proven history and loaded with experience;
- The Barnett Shale natural gas play
is the largest gas field in Texas – over 95% of all wells drilled resulting in gas being produced;
- Energy prices are
reaching new records almost daily and are expected to keep climbing;
- Exterra Energy
has over 90 successful Barnett Shale wells drilled and participated in since 2001;
- Exterra Energy
may have a very possible and significant revenue increase due to 7 new well bores drilled and ready for frac stimulation
& completion (scheduled and currently underway);
- Exterra Energy
has big plans for significant growth starting this year, with no let up in the coming years;
- The Bosque County acreage that is
ripe for growth and could support 50 wells or more;
- Exterra Energy
will have many opportunities to acquire numerous acreage available through existing partnerships with companies
such as Carrizo Oil & Gas, Inc.
(NASDAQ – CRZO);
- There are many
major and large independent Exploration & Production companies expanding assets in the Barnett Shale (all potential
buyout options);
- Exterra Energy
is the 39th Largest Operator in the Barnett Shale out of 110 Companies.
As an investor,
there is little we can find wrong with EENR, especially when we consider the opportunity to get in as the company
is just starting to grow.
Another solid
point we should consider, is the "book value" of approximately 0.334 per share, or a price/book (mrq) of 1.8 times. Most new
companies trading at low prices do not even have a book value, and if so, probably a penny or two a share. This
makes EENR a great deal at a much higher price than the current trading range, plus, as the new wells come on line,
the book value will increase and so should the price of the stock.
We have a world
that is hungry for all energy sources, and natural gas is one of the world's main sources, and not just for heating
our homes, but powering our machines and fueling our transportation, although, let us not forget that EENR is not
just natural gas, but it also has other interest, including oil wells.
According to
our research, U.S. natural gas inventories could be at seriously low levels at the start of winter this year, if
current rates of liquefied natural gas (LNG) imports remain at record lows. To achieve higher imports Nymex natural
gas futures, currently trading at 28-month highs of more than $11.10 per million British thermal units, will need
to rise further to close the gap with international gas prices and the rest of the oil complex in coming months.
If prices fail
to rise, it will be hard for U.S. natural gas inventories to reach full levels by the end of the summer, the report
said. And U.S. supply could come under pressure if this winter is as severe as 2007, the coldest in 7 years.
What this is
telling us, is that Exterra Energy could not be in a better
place right now. With demand so strong, the markets for oil and gas will stay active and the company will be able
to sell all it can pump, oil or gas, for years to come.
We have an opportunity
to be part of a big winner. The industry is on our side, no matter if the economy continues to weaken and the management
has the capability to take advantage of the strong market. A young company like Exterra Energy just might be one
of the best places to be in this current stock market.
EENR looks like a strong bargain for the long or short term
investor! Buy here!
I'm JR Budke and this is my opinion!
(QUOTE) (NEWS)
There is much to learn by visiting Exterra Energy's website.
A link has been provided below for EENR's Home Page
Click
Here To Visit Exterra Energy's Web Site
at http://www.exterraenergyinc.com/s/Home.asp
Clicking
here will take you back to other
"FEATURED"
Spotlight stocks
J.R. Budke had been a stock broker since 1981, an options principle since
1982 and a branch office manager since 1987. He is currently inactive as a stockbroker as of 12/31/99. J.R. writes
most of the articles and opinions for the Stocks in the Spotlight. The
stories and stocks found on this site, or any "Stocks in the Spotlight" written material, are the opinions
of J.R. Budke unless otherwise stated, and should not be considered as advice.
You should not purchase any stocks solely on the opinions found on the "Stocks in the Spotlight's" web
site or in any of its written material. You should also be aware that options are not for everybody and carry a
high degree of risk.
The "Stocks in the Spotlight" provides information only, with all recommendations to buy or sell the
profiled security as opinions of the Spotlight and should not be considered an offer to buy or sell the security.
The publishers of "Stocks in the Spotlight" are not
investment advisors and are not acting in any way to influence the purchase or sale of the security. Before purchasing or selling any security profiled, it is encouraged and recommended
that you consult a stockbroker or a registered financial advisor. The reader must understand that the companies
we select may involve a high degree of investment risk. Potential investors must understand that they may lose
all or a portion of their investment due to the risk involved.
The recommendations and updates in this article may include "forward- looking" statements as that term
is defined in the Private Securities Litigation Reform Act of 1995, & therefore are subject to various risks
& uncertainties. There can be no assurance that actual results, business conditions, business developments,
losses & contingencies, and local & foreign factors will not differ materially from those suggested in
the "forward-looking" statements as a result of various factors, including market conditions, competition,
advances in technology, acquisitions, potential litigation, personnel changes, capital availability, and all sorts
of other factors.
Although the "Stocks in the Spotlight" does not charge a company for a recommendation, Exterra Energy,
inc., through a third party, has agreed to sponsor an investor awareness program. The Stocks in the Spotlight has
been compensated for the cost of the advertising program. It is our belief that a brand awareness program will
assist in moving the stock up in price. Although there are no guarantees that any investor awareness program will
work, the idea and concept is that of JR Budke and no other. |
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