||Leading Petroleum Engineering
firm reports GASCO ENERGYÿFFFF92s unrisked future net revenues of
$2.4 billion from Utah wells alone. Analyst forecasts
$14.80/share price target!|
Gasco Energy Inc. is an
oil & gas company whose natural gas properties could potentially
begin producing in the billion-dollar range, but is still trading
under $3 per share!
Recently, Gasco EnergyÿFFFF92s (OTCBB: GASE) properties
and future revenues in Utah were independently evaluated and
estimated by Netherland, Sewell & Associates (NSAI) ÿFFFF96 a
40-year-old international petroleum consulting firm. NSAI (www.netherlandsewell.com) has worked with hundreds
of top financial institutions from Bank of America to Credit Suisse
as well as major oil and gas companies from Exxon to Shell.
The report states that
the estimated unrisked future net revenue on GASEÿFFFF92s interest will
most likely produce $2.42 BILLION!! Please note that the report
discusses NET revenues, which are calculated by deducting state
production and ad valorem taxes, operating expenses and ALL future
capital costs from the gross revenues. While these are net revenues,
as opposed to net income, this can mean great news for GASEÿFFFF92s
existing and future shareholders!
probabilities of occurrence, NSAIÿFFFF92s report states ÿFFFF93there is very
little risk of not encountering gas in this basin-centered gas
accumulationÿFFFF94. In fact according to NSAI, the propertyÿFFFF92s most likely
present worth is $242 million discounted at 10% based on average
NYMEX prices for the period 09/00 to 08/02. Wellhead prices used in
the report are $3.56 per MMBtu, escalated 3% per year to a maximum
of $4.15 per MMBtu.
Foremost among GASEÿFFFF92s
strategic partnerships is GASEÿFFFF92s agreement with Phillips Petroleum
(NYSE:P). GASE and Phillips have been working to maximize
shareholder value on the Utah properties. GASE has also teamed with
Halliburton Co. (NYSE:HAL) to potentially drill and complete up to
10 wells within the same area.
IN ADDITION to the
interest in Utah properties, GASE also recently reported that it has
teamed up with Burlington Resources (NYSE: BR) - one of the world's
largest independent oil and gas companies - to explore and develop a
series of natural gas plays in Wyoming. This significantly enlarges
GASEÿFFFF92s land mass, which may further increase the companyÿFFFF92s net
According to the U. S.
Geological Survey, the Greater Green River Basin has produced more
than 7.3 trillion cubic feet of natural gas and 849 million barrels
of oil, making it one of the country's truly significant oil and gas
fields. Burlington Resources is the perfect partner to help develop
the many highly fractured, tight-gas-sands prospects the companies
expect to find there.
Based on GASEÿFFFF92s recoverable resources,
propertyÿFFFF92s present worth and industry partnerships London based
Canaccord Capital recently issued an Investment report estimating
the value of GascoÿFFFF92s licenses to be $740 Million, or $14.80 per
Despite all the recent
developments, the companyÿFFFF92s stock is still trading below $3. Many
consider this to be ridiculously low, considering that NSAI
estimates future net revenues of up to $2.4 billion and unrisked
present worth at $242 million. With its high probability Utah stake
AND its Wyoming partnership with Burlington, GASE is now diversified
AND showing huge growth potential!
How quickly will GASEÿFFFF92s stock price start to
reflect its real value? As the company is still trading on the
OTCBB, maybe it hasnÿFFFF92t been able to attract institutional investors
who price stocks based on their real value. When they learn about
the recent developments, GASEÿFFFF92s valuation could potentially change
application for listing pending and the type of assets GASE
possesses, it may be only a matter of time before the company jumps
to Amex. That would open a lot of doors for GASE and potentially
explode the demand for GASE stock and lead to a much higher
valuation! What will GASE be trading at by then?
Click Here to read the NSAI Report
Click Here to read the Canaccord Report
of our Corporate Relations Representatives would be happy to answer
any questions you may have. Please call us at 1-800-645-9254, or
visit the company's website at www.gascoenergy.com.