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Did Irrational Investors Kick This Solid Penny Stock Off a Cliff?! We think so.
Are you ready to trade on the bounce up?
The price has moved back down around our positive alert level having gone down in sympathy with the rest of the markets.
Our Current Pick Is FNRC and and we want to add just one piece of very important information regarding our previous report. There is one piece of this report we wish to emphasize. If you have read our previous reports and research on Oil Shale plays you must've noticed that several of them have provided tremendous results. You probably noticed that once they pass the development stage they just go insane. Now with regards to FNRC, the question is not so much about their ability to generate revenue from their business venture as much as how much of it they will be able to capture. In the case of an Oil Shale company the success factor is about the ability to exploit the assets. Basically, the company's ability to find the means to start their production is paramount to its success and in turn yours. Now here is why we believe FNRC stands apart. FNRC recently reached terms on a $7M funding facility. Read The News... Second, the company has been releasing a string of major news regarding its financial backing and access to funding to pursue its goals to increase development, exploitation and production from its assets. Keep in mind that the Oil Shale business has been booming in light of the rising costs of the Oil Barrel. As you can see from the article that I published and was picked up by Yahoo Finance, Oil Shale Stocks have been showing tremendous returns to investors. http://ca.finance.yahoo.com/news/oil-shale-frontier-pinksheets-fnrc-nyse-kog-nyse-035100162.html Now considering the above and the fact that FNRC just executed its final documentation to access a $7M facility, I strongly believe FNRC could be another Kodiak Oil and Gas (KOG) or a Northern Oil & Gas (NOG). Here's the best part, we're at ground floor level and only way seems to be up for FNRC. Check the latest new here: http://finance.yahoo.com/news/1st-nrg-corp-executes-7-170000046.html We expect today to see some movement as there were plenty of traders in this pick yesterday and likely going to see some more volume. So don't wait too long before you get in, I expect this morning to be very active. Don't snooze on this one. We think you have an idea and you know what to do at 9:30 today. Trade well Awesome Penny Profits
The Company is FNRC, 1st NRG Corp. I have put my hands on some reports and I have extracted the most interesting information for you. This pick will move fast on Monday, and there are a bunch of other newsletters coming on it, so you want to be there and ready at the open. This should be a trade of a few days.
Now that you know what the Ticker is, you can also do your own research and you can read what follows. Their website is: http://1stnrg-corp.com/ You can go read their recent news. What really got us excited is this new financing facility they have in place to drill and develop their project. There are not many small cap companies that have $7M in backing. This one has it. A quick review of the chart can show you that this one moves easily with volume, and it will be the same, in the past on light volume it moved up $0.05-$0.10, so I would not be surprised to see it at $0.50-$0.60 at some point again this week on the strong volume that this pick should start to experience. Let me start quickly by giving you the top 10 reasons why you should seriously look into FNRC. Then read the rest of our detailed report for more details. - Natural gas and oil world demand will continue to increase significantly, with emerging countries leading the growth in the demand
- The cost of Oil and Natural Gas is rising
- A direct competitor to FNRC Samson Oil & Gas has a fundamental score of 7 on 10 by Thomson Reuters.
- FNRC just got a convertible note facility for $7M, which will help develop future and actual projects
- Unconventional oil and gas shale are becoming a viable alternative to other types of oil and gas with new technologies: economically and socially
- FNRC has a vast potential for reserves in oil & gas in its 3 promising properties
- Low Geologic Risk in its oil & gas projects: 42 wells have been drilled from August 2006 through December 31, 2010 with a success rate of 100%
- Comparison to North American competitors shows a low valuation for FNRC versus a high growth potential
- Competitor Paradigm Oil and Gas Inc has 6 employees and a market cap around $128M; 2 Competitors (Samson Oil & Gas and Synergy Resources Corp) have 11 employees and a market cap of $67M and $208M
- FNRC's return potential in the next 3 years: over 341% (Actual price $0.39 and a potential market cap of $40M with a price target of $1.72 in the next 3 years.)
Business Description 1st NRG Corp. is an exploration and production company headquartered in Denver, Colorado with existing natural gas (CBM) assets in the Powder River Basin of Wyoming. We own working interests in producing and prospective CBM wells in the Clabaugh Ranch Field, a development of 6,025 gross acres in the Powder River Basin in northeast Wyoming. The Powder River Basin is a major source of coal bed methane - clean natural gas. We are expanding our activities by expanding into unconventional shale potential which includes 1,370 acres in the Niobrara Shale in Western Nebraska and 7,150 acres the Utica Shale in Eastern Ohio. The Niobrara Shale and the Utica Shale not only have potential oil reserves, but also natural gas and natural gas liquids. Management of 1st NRG Corp. Kevin Norris - Director - CEO. Mr. Norris has over 30 years of industry experience with various energy companies including Apache Corporation, Universal Fuels Company, TOP Gas Gathering and BlueCreek Energy. Through his career, Mr. Norris has been involved in the drilling, operating, transportation and marketing of both oil and gas wells and specifically CBM (Coal bed Methane) wells for the past 14 years. Mr. Norris spent 15 years with e2 Business Services, Inc. a company which provided outsourced administration and marketing services, as well as software solutions. While at e2, Mr. Norris aided the company in its design of a proprietary gas control system designed specifically to accommodate wellhead gas scheduling, marketing, allocations, balancing, invoicing and accounting for wellhead and downstream gas transactions. After founding BlueCreek Energy in 2006, the company grew to ownership in 78 producing wells (42 operated) and over 20 BCF in reserves (3P). Mr. Norris received a Bachelor of Science degree in Business Administration from Colorado State University in 1979. He is also a past Chairman of the IPAMS Natural Gas Committee. Projects 1. Utica Shale – Eastern Ohio The Company has entered into a Letter of Intent to develop approximately 7,150 acres in Eastern Ohio, one of the most active areas for oil, natural gas and natural gas liquids exploration in the United States. Recently the Ohio Department of Natural Resources released estimates of the possible Utica-Point Pleasant recoverable reserve potential in Ohio to be between 3.75T to 15.7T cubic feet of natural gas and 1.3B to 5.5B barrels of oil. 2. Niobrara Shale – Western Nebraska The Company also has entered into an agreement which will deliver an Oil and Gas Lease and surface use agreement for 1,370 acres located in Banner County Nebraska. We expect the area to have possibilities to develop the Niobrara Shale which is being compared to the Bakken Shale in North Dakota. Located in the Denver Julesburg Basin which extends from Southeast Wyoming and Southwest Nebraska into Northeast Colorado the acreage will provide the company with possible oil, natural gas and natural gas liquids development in the Niobrara Shale, as well as the Codell, Greenhorn, D and J Sands. Industry estimates of the possible Niobrara Original Oil in Place (OOIP) are 30M BOE per section, however recoverable oil, natural gas and natural gas liquids will vary by area, thickness, porosity and fracture systems. 3. CBM – Northern Wyoming Clabaugh Ranch - Clabaugh Ranch was acquired in October 2010 and consists of various working interests in forty two producing coal bed methane (CBM) wells. Coal bed methane is a source of clean natural gas. Along with the forty two (1.22 net) drilled and producing wells, the Company holds an interest in eight (6.00 net) permitted locations which we intend to drill in the fourth quarter 2012. The field currently produces 1,200 – 1300 MCFD and we estimate our reserves to be about 4.8 BCF (3P). Industry news Eastern Ohio - Utica Shale / Utica Shale – The New Oil Frontier? With the recent technological advances in drilling techniques, numerous operators have started looking at the Utica as the next oil frontier with several operators comparing its potential to the Eagle Ford Shale in Texas and the Bakken Shale in Williston Basinof North Dakota and Montana. While it is still very early in the play operators like Chesapeake Energy, Gulfport Energy, Anadarko, Petroleum Development Corp and Devon(to name a few) have been acquiring acreage in Ohio. As information becomes available the size and extent of the Utica Shale resource will become more evident. The Ordovician-aged Utica Shale is distributed across several US states as well as Quebec, Canada and is found approximately 2,000+ ft below the Marcellus Shale. The shale is generally shallower to the West and deepens to the East. Recently the Ohio Department of Natural Resources released estimates of the possible Utica-Point Pleasant recoverable reserve potential in Ohio to be between 3.75T to 15.7T cubic feet and 1.3B to 5.5B barrels of oil. In addition to the Utica Shale, other formations such as the Devonian shale, Marcellus shale, Clinton sandstone, Medina Sandstone, Trenton Limestone, Black River, Beekmantown dolomite and Rose Run all are potential targets below the Second Berea. Coalbed Methane CBM is natural gas that is trapped within buried coal and is stored, or adsorbed, onto the internal surfaces of the coals. Geologists have long known that coal was the source for natural gas found in many conventional accumulations, but coalbeds were not targeted for production due to high water content and minimal natural gas production. Following a West Virginia mine explosion in 1968, the U.S. Bureau of Mines began to examine ways of removing methane from coal prior to mining. The Bureau of Mines demonstrated that CBM can be produced when large volumes of water are pumped from a coal seam. In a process known as dewatering or depressuring, a submersible pump is set below the coal seam, and the water column is pumped down, reducing the pressure in the coals. As pressure in the coalbed formation is reduced, CBM is released through a process called desorption. CBM then moves into naturally occurring cracks, or cleats, in the coal, and then to the well bore. Cleats are natural fractures which have formed in the coals, usually as a result of the coalification process and geological stresses. The cleats are generally filled with water,andpumping the water off then lowers the reservoir pressure allowing desorption to occur. Thus, unlike producing from a conventional natural gas reservoir, reservoir pressure in a coalbed formation must generally be reduced to allow for production of CBM because of the necessity to remove water and reduce the pressure within the coal seam, CBM, unlike conventional hydrocarbons, often will notflow immediatelywith initial production. Coalbed formations typically require extensive dewatering and depressuring before desorption can occur and the methane begins to flow at commercial rates. In the past 20 years, CBM in the United States has evolved into a major component of the United States natural gas production. According to the National Energy Technology Laboratory, CBM provides approximately 8% of daily natural gas production in the United States. The Rocky Mountain region, due to its immense coal reserve base, is a significant source of United States CBM production, and there are more than 18,000 producing CBM wells in the Powder River Basin, according to the U.S. Department of Energy. The primary CBM basins include the San Juan, Green River, Raton, Powder River and Uinta Basins in the western United States. CBM production is expected to increase substantially due to the tremendous reserve potential of the numerous, virtually undeveloped U.S. coal basins. Within the Rocky Mountain region, the Powder River Basin has become a major CBM producing basin. According to the U.S. Department of Energy 2002 Powder Basin Coalbed Methane Development and Produced Water Management Study[1], the Powder River Basin is estimated to have substantial recoverable natural gas reserves. Approximately 1.01 Bcf of CBM is produced from the Powder River Basin per day. The Powder River Basin is an asymmetrical structure and sedimentary basin bounded by the Bighorn and Black Hills uplift and the Casper Arch. The Paleocene Fort Union formation crops out along the basin margin and is overlain by the Eocene Wasatch formation in the central and western part of the basin. The Wasatch and Fort Union formations contain numerous coalbeds, some of which approach 250 feet in total thickness. The Fort Union formation is divided, in ascending stratigraphic order, into the Tullock, Lebo, and Tongue River members, with the majority of coal and CBM production being produced from the Tongue River member. The majority of Powder River Basin CBM reserves are found in the Fort Union formation. Extensive drilling in the Fort Union formation (over 25,000 drilled well bores) has provided supporting data indicating that this formation contains numerous coalbeds which are generally continuous, extremely permeable and are relatively shallow (less than 1,000 feet deep) and low in rank (geologic maturity) compared to other coals in the Rocky Mountains. Why analysts are excited about this Company? 1. 1st NRG Properties – Wells and locations - Low Geologic Risk 42 wells have been drilled from August 2006 through December 31, 2010 with a success rate of 100%
- Multi Seam Completions Optimize the Infrastructure All of the wells drilled have encountered developed coal seams in the Upper and Lower Smith, Wyodak/Anderson Lower, Werner, Gates, and Wall formations.
- Immediate Development 8 permitted locations - In these 8 locations 1st NRG holds a 66.67% working interest.
2. Gathering, water disposal and power infrastructure in place. - Economic at Lower Commodity Prices
- Clabaugh Ranch Gross production currently averages approximately 1,200 – 1,300 mcf (thousand cubic feet) per day ("mcfd") which on a net basis to the Company is approximately forty mcfd. Our interest in Clabaugh Ranch was acquired in October 2010 and consists of various working interests in forty two producing coal bed methane (CBM) wells. Along with the forty two (1.22 net) drilled and producing wells, the Company holds an interest in eight (6.00 net) permitted locations and twenty eight (1.15 net) future locations.
- Potential of 1st NRG total reserves
- 1st NRG just got a new convertible promissory note for $7M that will help future developments of its oil & gas projects
- Potential of Eastern ohio, Utica Shale project:
- 1st NRG has entered into a Letter of Intent to develop approximately 7,150 acres in eastern Ohio, one of the most active areas for oil and natural gas exploration in the United States. Recently the Ohio Department of Natural Resources has released estimates of the possible Utica-Point Pleasant recoverable reserve potential in Ohio to be between 3.75T to 15.7T cubic feet and 1.3B to 5.5B barrels of oil. By drilling a test well, 1st NRG will earn all depths below the second Berea sand. In addition to the Utica Shale, other formations such as the Devonian shale, Marcellus shale, Clinton sandstone, Medina Sandstone, Trenton Limestone, Black River, Beekmantown dolomite and Rose Run all are potential targets below the Second Berea. By drilling a test well the Company will earn the rights to offsetting locations.
Potential of Niobrara acreage with Yellow acreage held by Recovery Energy: 1st NRG entered into an agreement which will deliver an Oil and Gas Lease and surface use agreement for 1,370 acres located in Banner County Nebraska. We expect the area to have possibilities to develop the Niobrara Shale which is being compared to the Bakken Shale in North Dakota. Located in the Denver Julesburg Basin which extends from Southeast Wyoming and Southwest Nebraska into Northeast Colorado the acreage will provide the company with possible oil, natural gas and natural gas liquids development in the Niobrara Shale, as well as the Codel, Greenhorn, D and J Sands. Industry estimates of the possible Niobrara Original Oil in Place (OOIP) are 30M BOE per section, however recoverable oil, natural gas and natural gas liquids will vary by area, thickness, porosity and fracture systems. - Gas shale – the unconventional form of energy, which will become “conventional” due to new technologies and the higher price of oil and gas
- With a Barreol of oil around $100. Exploitation of oil & gas shale and conventional oil are more attractive
- Cost of Natural gas is also rising.
So as you can see this pick has legs and now with all the exposure this stock will receive in the next few days, this pick will be in play tomorrow for sure. So we can’t wait for the market to open.
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Tuesday, November 27, 2012,
Ashok Niroula
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