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www.pennystockchaser.com – AVOE – Management is SUPER STRONG – They have the goods to see AVOE to big $$ – REVENUE NUMBERS ARE CRAZY GOOD
AVOE rallied 20% on Friday and closed @ .72. This was a solid move in a down market. The chart on AVOE has been building.
If get a close above $1.00 on AVOE we will be off to the races and the stock should break the old high of $2.46.
The company is building a solid land position in the ArkLaTex Oil producing region in the US. They issued a PR on Friday night which should give investors a good feel for the upside of their most recent acquisition.
http://www.stockwatch.com/
We suspect that the company is being packaged for resale to a larger competitor. Small producers like AVOE are targets for acquisitions if and when they get those revenue numbers up past $10 million per year.
Many members have asked us to summarize the AVOE story in a nutshell. PSC relayed that request to AVOE and they provided this synopsis for the benefit of our members.
Avro Energy was incorporated in 2006 for the purpose of becoming involved in Oil and Gas Exploration in the United States, with a focus on the ArkLaTex oil-producing region. Currently the Company has acquired 24 wells on various leases in the Hosston, Louisiana, area, and has an agreement to acquire up to 180 additional wells. While these wells are currently producing, the leases were acquired because of the deeper rights and drilling possibilities as well as recompletion potential. Production and additional workover programs are currently being carried out on these leases. The Company began receiving production revenue from these wells around September 2009.
In addition, the Company has acquired four oil and gas leases in Caddo Parish, Louisiana, comprising of 21 wells of which 8 wells are producing. These wells have zones of interest in the Nachatosh Formation. These leases include the deeper rights to the base of the Paluxy Formation which is prolific in the area. The Company began receiving production revenue from these wells around October 2009.
Finally, the Company has entered into an agreement to acquire eleven producible deep oil wells located in South Arkansas. Seven of these wells are currently in production with the other four capable of production after work over operations. In addition, the Company will acquire three disposal wells with this package. The deepest of these wells produces from the Smackover formation at 7800 feet, which fits with the Company's plan to look at deeper horizons for zones capable of larger production. The producing wells are productive from the Rodessa, Paluxy, Pettit, Smackover, and Tuscaloosa Formations. The independent Petroleum Geologist hired to review the well logs and leases has stated that six of the wells should be produced from the Rodessa Formation, which, as other wells in this area historically have done, will produce at an initial production of 100-150 barrels of oil per day. This production alone would provide the Company with at least $15M in gross revenue per year. The remaining shallow wells should be able to produce up to 200 barrels per day from its current production of approximately 20 barrels per day by completing a workover program, increasing the personnel, and replacing or upgrading the equipment. These shallow wells would represent gross revenue of approximately $6M per year.
The Company is currently negotiating with a major oil producer to create a 50-50 partnership agreement for this producer's oil and gas properties within the state of Louisiana
THIS SUMMARY MAKES US SMILE FROM EAR TO EAR.
PSC has had numerous conference calls with AVOE in the past. The story has developed just as management had forecasted during our initial calls. Next week, some members of our team will be meeting face to face with AVOE management to get a good handle on potential revenue numbers for the AVOE property portfolio. During these meetings we will also address exploration potential.
We really like what AVOE is doing and we think they have the correct management team to see this through to the finish line. Management gets results and results create profit. AVOE longs are on the right path to profit.
If you just look at the CEO, Mike Kurtanjek, you have to be super impressed. He is an investment banking who worked with HSBC and Credit Lyonnais. With this kind of background, he can open some very big doors.
AVOE is going to be a very profitable investment for those who can see the BIG PICTURE.
The story is, you can buy into an O&G buyout/
We like the odds and AVOE
Please remember to do your due diligence on AVOE.
For more information on AVOE, please join us @ www.pennystockchaser.com.
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