NEW YORK, Jan. 7, 2004 (PRIMEZONE) - The following is an investment opinion issued by Investrend Research Syndicate.
Relative to the late 1980s when there was no material production of CBM outside of the still dominant San Juan Basin in northwestern New Mexico, and the Black Warrior Basin in Alabama and Mississippi, CBM has since surfaced as a viable source of natural gas and Heartland Oil & Gas Corp.'s (OTCBB:HOGC) strategy is to capitalize on that need, notes Investrend Research analyst J. Damien Kolb in an Update.
Heartland Oil & Gas Corp. (OTCBB:HOGC), an independent energy company which owns and operates a new coal bed methane prospect in the Forest City basin of northeast Kansas, is further seeking to capitalize on long-term exploration and development of the "Soldier Creek Prospect." To date, execution of the HOGC business plan has focused on acquiring prospective CBM leases, and drilling initial test wells on this acreage, from which they may establish an exploration and development plan, said Kolb.
The Company holds lease rights to 211,000 acres in the Forest City basin CBM fairway, where it has drilled seven exploratory gas wells. Management claims a 100% working interest in all of the leases, with a net revenue interest of 84.5%; therefore, HOGC's net acreage is approximately 157,170 acres, the analyst stated.
Kolb stated that Heartland remains in the exploratory stage, meaning "if significant gas yields are recovered and brought to market, HOGC and its shareholders will certainly reap great financial rewards," but if "nil proven CBM or immaterial quantities that are not economically recoverable," shareholders could be left "owning stock in a shell company in search of a new business plan."
The full report for the company, including important disclosures and disclaimers, is available at http://www.investrendresearch.com, at the company's InvestorPower page at http://www.investrend.com/company/list.asp?sPathParam=yes and investors are advised to read those disclosures carefully before trading in the equities of any enrolled company.
Heartland Oil & Gas Co. is enrolled in Investrend Research's unique and pioneering professional analyst program, which facilitates independent analysts to provide financial coverage for shareholders and investors in companies that otherwise would have little or no analyst following. The program is enrollment-based. Enrollment fees for Benchmark coverage are $1,195 per month, and the fees are being paid by the company and are current. Analysts are paid in advance of initial reports by Investrend Research to eliminate pecuniary interest, and neither the analyst nor anyone associated with Investrend Research may own or trade in the stocks of a company under coverage.
Anyone interested in receiving alerts regarding Heartland Oil research should email info@investrend.com with "HOGC" in the subject line.