In the report, the analyst writes, “Mitopharm Corporation (MTPM) is a development-stage biotechnology company involved in the research and development, marketing and sales of functional beverages, dietary supplements and drugs. The Company employs the latest technologies in biochemistry, pharmacology and Traditional Chinese Medicinal (TCM) formulas to research and develop new drugs. The Company’s products, Restorade and Stamina Solution, are based on a newly discovered compound, which has biochemical properties that aid in countering the effects of aging.”
Globally, biotechnology is one of the fastest growing sectors of the healthcare market. Biotechnology involves diverse activities including pharmaceutical development, medical devices and research services. Worldwide biotechnology revenues have grown from $22.3 billion in 2000 to approximately $50 billion in 2005. In the US, the biotechnology industry generated revenues of $32 billion in 2005. As the US population ages, spending on health care is expected to rise due to increasing demand for drugs and medical devices.
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South Sea Energy Corp (SSGY.OB) is an exciting company that specializes in the exploration and development of coal bed methane (“CBM”) in Indonesia’s vast coal reserves. Currently, the company is well-positioned as the front runner in the country’s unconventional gas sector. The company has been able to put themselves in this position by putting together a top quality and experienced management team. Alan T. Charuk, President of South Sea Energy Corp, joins the company after serving as Vice President of Norwood Resources (NRS.VN). At Norwood, Mr. Charuk shared his expertise in business development and securing financing for major projects in the resource and hydrocarbon sectors.
Joining Mr. Charuk at South Sea Energy is Dr. Harvey S. Price A leading expert on CBM, Dr. Price has consulted with dozens of coal mines on their degasification projects. He helped develop the first theories on CMB’s commercial viability while Executive Vice President of INTERCOMP, an industry consulting firm. Dr. Price was President of a subsidiary of Kaneb Services Inc. (NYSE: XNR) where he managed the worlds’ first simultaneous coal mine degasification and methane production venture. The project produced methane valued at over $300 million during its first 10 years of operation.
Also apart of the South Sea Energy team is Mr. Charles W. Bloomquist. Mr. Bloomquist, a Registered Professional Engineer, has more than 30 years of experience in the oil and gas industry.
South Sea Energy Corp. has entered into a Letter of Intent to acquire 100% of the interest of CBM Asia Development Corp. CBM Asia has entered into a joint venture on a 1,200 km2 exploration block in the Kutei Basin , with estimated competeable CBM reserves of 2.7 Trillion Cubic Feet.
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South Sea Energy Corp announced today that the Indonesian Government plans to sign a contract next month with an undisclosed investor to develop the country’s first Coal Bed Methane (CBM) project. The project was officially announced on July 18th, by Dr. Puromo Yusgiantoro, Indonesia’s Energy and Mineral Resources.
President Al Charuk commented that “The announcement by the Ministry is extremely exciting news for South Sea Energy and its partners. The contract will likely become the framework on which future contracts will be negotiated and awarded.” Mr. Charuk added, “This announcement shows that the Indonesian Government is committed to adding coal bed methane to its vast natural resource base.”
The company also posted on its website the interview of Dr. Yusgiantoro discussing the different opportunities within Indonesia’s energy sector at the Third OPEC International Seminar in December 2006.
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South Sea Energy will be featured in upcoming Daily Newsletters and the Small Cap Daily Internet broadcasts put out by QualityStocks. QualityStocks has over 200,000 subscribers to The Daily Stock Newsletter. It is a free service that collects data from hundreds of Small-Cap and Micro-Cap online Investment Newsletters and puts it all into one Free Daily Newsletter Report.
Michael McCarthy, Director of Business Development for QualityStocks.net, stated that he is excited to have South Sea Energy’s sponsorship. He continued by saying that South Sea Energy is quickly establishing itself as a category leader.
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South Sea Energy Corp. (SSGY.OB) has signed a non-binding Letter of Intent with PT Yasa Summa Energy. This particular letter of intent will enable each company to acquire additional coal bed methane in East Kalimantan, Indonesia. Both companies intend to sign a definitive agreement outlying the particulars of their joint venture in the upcoming weeks.
Upon closing of this acquisition, SSGY.OB will have the rights to participate in a joint venture with PT Yasa. This joint venture will encompass 1,200 km of both exploration and development of the East Kalimantan area of Indonesia.
Alan Charuk, President of South Sea Energy, stated that “Working directly with a respected local company such as PT Yasa will strategically position South Sea to become a major player in Indonesia’s up-and-coming CBM industry.” Let us hear your thoughts below.
South Sea Energy announced that it has signed a Letter of Intent with PT Yasa Summa Energy, which will assist in identifying and acquiring additional coal bed methane (“CBM”) projects in East Kalimantan, Indonesia. A definitive agreement outlying the terms is expected in the coming weeks.
The company is also actively working on signing a definitive agreement to acquire an interest in a joint venture coal bed methane project. The completion of the acquisition will supply South Sea with rights to participate in a joint venture containing a 1,200 km2 exploration and development block.
The President of South Sea Energy stated, “Working directly with a respected local company such as PT Yasa will strategically position South Sea to become a major player in Indonesia’s up-and-coming CBM industry. Having local expertise is the key to success as these companies understand Indonesia’s business environment and have extensive experience working with Government agencies.”
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South Sea Energy Corp. (“South Sea”) (SSGY) is an emerging junior energy company specializing in the exploration and development of coal bed methane in Indonesia’s vast coal reserves. The Company is led by industry leading coal bed methane experts that have extensive experience in developing junior oil and gas companies and have identified significant opportunities that position the Company as a potential front-runner in the country’s burgeoning unconventional gas sector.