Archive for the ‘Striker Oil & Gas Inc. SOIS’ Category

Striker Oil & Gas Inc. (SOIS.OB): Riding the Energy Boom to Profits

Monday, September 1st, 2008

Striker Oil & Gas (SOIS) develops, explores and acquires crude oil and natural gas reserves, operating along the Gulf Coast of Texas and Louisiana, as well as in East Texas and Mississippi. It is speculated that Striker has potential oil and gas reserves of $400 million in Texas and Louisiana. That equates to 32.5 billion cubic feet of natural gas and 973,000 barrels of crude oil. Striker also recently an agreement with Indonesia’s GEO Corporation to find oil offshore of that Asian country.

Texas-based Striker Oil & Gas was founded in 2004 and is already producing oil, a rarity among newly-founded energy companies. Striker’s revenue performance since inception is staggering, with a one-year growth of more than 232 percent and a three-year growth of almost 1200 percent. The company is forecasting 2008 revenue of $5 million.

Striker uses revolutionary technology to find new oil reserves, including sophisticated satellites that orbit the earth finding even the tiniest oil slicks in undiscovered oil reserves. In addition, the company uses two- and three-dimensional sonic equipment to detect oil and natural gas hidden below the earth’s surface.

It is speculated that Striker’s Catfish Creek operation in East Texas could be worth up to $360,000,000 in potential oil and gas reserves. The property is adjacent to wells owned by major oil companies such as Chevron and XTO Energy and these wells have produced hundreds of millions of barrels. East Texas wells are known as “long live” wells, which means they can produce oil or gas for up to two decades.

As global demand for oil continues to surge, this could benefit Striker and its shareholders. The company currently trades around five times 2007 sales with a multiple of less than 16, meaning Striker shares could be worth well over $2, almost 10 times the 22 cents they closed at last Friday. Striker has a market value of $4.5 million and its shares have traded between 10 cents and $1.65 over the last 52 weeks.

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Striker Oil & Gas Inc. (SOIS.OB) Reports Successful Results of its Catfish Creek Prospect with Potential of up to 40 more Wells

Thursday, June 5th, 2008

Houston-based Striker Oil & Gas Inc. (OTCBB: SOIS) engages in the search and sale of oil and gas reserves through exploratory drilling and acquisitions of producing properties along the Texas Gulf Coast, East Texas and South Louisiana.

Today the company announced the successful completion of the second well drilled on its Catfish Creek Prospect located in East Texas, reporting that full development of the prospect may result in 20 to 40 wells. Striker has approximately 33 percent working interest before payout, and 25 percent after. The well was completed in the Pettit formation with perforations at 10,435-10,438’ and 10,448-10,458’ and was flow tested for several days prior to shutting the well in.

“We are very encouraged by the gas flow rate from this well taking into account that it has not yet been fracced,” Kevan Casey, CEO of Striker stated in the press release.

Striker focuses on the exploitation and development of existing production through modern developmental techniques. Through the announced and various other interests, the company said the upcoming year looks to be promising.

“We believe 2008 is shaping up to be a great year for Striker as we continue to develop our existing prospects and look for new opportunities that add to our reserves and ultimately shareholder value,” Casey stated.

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Striker Oil & Gas, Inc. (SOIS.OB) Announces a 266% Increase in Revenue for 1st QTR 2008

Wednesday, May 21st, 2008

Striker Oil & Gas, a natural gas and crude oil exploration and production company, has released its first quarter 2008 financial results, and – according to the company – revenues were up over 266% compared to the same period in 2007. Revenues from oil and gas were $1,179,135, compared to $322,348 in 2007. Gross profits also increased in excess of 300% from 174,468 for the 1st quarter of 2007, to $700,867 in 2008.

Highlights from the company’s quarters which contributed to their profits include: an increase in crude oil and condensate sales of 2,455 barrels in 2008, or a 39% increase over 2007 levels; and an increase in the price it received for its production from $50.60 per barrel to $97.71 per barrel, or 93%. The increased crude oil sales were attributable to increased production at North Edna Field, North Sand Hill Field, its discoveries at South Creole Field and Catfish Creek Field, and its acquisition of Welsh Field. Revenue the company received from natural gas sales at its South Creole Field increased to $316,856, which represented sales of 38,037 Mcf’s at an average price of $8.33 per Mcf.

Commenting on the revenues, Kevan Casey, CEO of Striker Oil & Gas stated, “We are pleased that our revenue growth continued in the first quarter of the 2008 fiscal year, generated by internal growth. We are confident that our existing projects, primarily our Catfish Creek prospect, will continue to add to our revenue growth during fiscal 2008.”

Striker Oil & Gas is primarily engaged in the acquisition, development, exploration and production of crude oil and natural gas. The company acquires working interests in producing properties with developmental potential and properties that offer relatively low-risk exploration potential for both crude oil and natural gas.

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Stock Guru Featured Company: Striker Oil & Gas, Inc. (SOIS.OB)

Monday, May 12th, 2008

Striker Oil & Gas, Inc. (SOIS.OB) is an oil and gas company focused on the search and sale of oil and gas reserves as well as the acquisition of producing properties. The company is located in Houston, Texas and targets the Texas Gulf Coast, East Texas, and Southern Louisiana areas.

Striker Oil & Gas has three main objectives. First, the company plans to acquire producing properties that show the potential to produce. Second, they intend to drill for low- to moderate-risked exploratory reserves, all the while meeting their third objective, which is to maximize production while optimizing field operations and controlling costs. Striker has a non-exclusive, joint development agreement with GEO Corporation Ltd (an Indonesian oil and gas company) that will facilitate Striker’s evaluation of offshore Indonesian prospects.

Striker’s growth strategy includes searching for property acquisitions that: offer a location within their focus regions; accrete earnings, cash flow, and reserves; provide personnel and existing infrastructure that work together successfully; and meet their economic thresholds. The company expects their 2008 revenues to reach $5,000,000.

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