$PGAS is primed to benefit from an increase in oil prices. Ticker is at bottom and way oversold
$PGAS Petrogress is an independent corporation on singular mission to go further and do more in oil & gas energy including the maritime sectors
Petrogress, Inc. Enters Into MOU to Acquire Interest in Cyprus Shipyard
https://finance.yahoo.com/news/petrogress-inc...00215.html
Petrogress, Inc. is publicly listed on the OTC Markets trading under the symbol PGAS. The Company operates primarily as a holding company for its wholly-owned three subsidiaries Petrogres Co. Ltd, Petronav Carriers llc, and Petrogress Oil & Gas Energy Inc
PGAS Security Details
Market Value1 $4,837,078 a/o Jun 27, 2017
Authorized Shares 490,000,000 a/o Apr 27, 2017
Outstanding Shares 166,795,807 a/o Apr 27, 2017
-Restricted Not Available
-Unrestricted Not Available
Held at DTC Not Available
Float 24,441,809 a/o Apr 27, 2017
Par Value Not Available
Financial details
Cash on hand = $629,115
Total Assets = $10,125,341
Total liabilities = $569,632
Quarterly Revenue = $4,019,113
Gross Profit = $1,744,528
Net Income = 252,844
Insiders own 81.5% of outstanding shares in PGAS approximately over 136,000,000 million shares are controlled by them leaving a tiny float for retail in this profitable company.
What draws me to PGAS? For me as an investor I love real otc companies with a solid management team, strong balance sheet, and a promising future and PGAS meets all those criteria. What makes PGAS unique is given the massive drop in oil prices in 2016 that wiped our many companies in this sector? PGAS only saw its annual revenue drop from from $21 million annually to $18 million and the company compensated for this by reducing its revenue cost by about $3.2 million from $15.7 million to $12.4 million .
This is especially important because during these rough times the company did not take out any bad or toxic debt and liabilities per their recent quarterly filing and audited 10k is less than $569k which is unheard off for a penny stock generating this kind of revenue.
This was possible because PGAS is a well diversified company in this sector given their maritime, oil and gas sectors and is primed to see massive growth from the rebound in the energy sector as well as growth initiatives through acquisitions.
During the first quarter of 2016, the Company changed its name from "800 Commerce, Inc." to "Petrogress, Inc." following the completion of a reverse merger with Petrogres Co. Limited ("Petrogres"
, an oil commodity trading company and sea-carrier provider of petroleum products by its four beneficially-owned affiliated vessels. As a result, Petrogres became a wholly-owned subsidiary of the Company. In connection with this merger and subsequent name change, the Company began trading under a new ticker symbol (OTC PINK: PGAS).
Petrogres brings to the public company and its shareholders tangible assets (tankers ships) and strong operations, with expected growth of our gross revenue stream and a fully operational management team that is constantly looking to expand into other markets, where we have years of deep-rooted experience dealing with our trading partners.
Since its inception, Petrogres has evolved its business from focusing solely on fleet and tank er ship operations to expand into the oil and gas industry as a trader and merchant of oil. Over the last five years, Petrogres has strengthened its position as a key player in the oil and gas industry by combining its regional market knowledge with over 25 years of experience to successfully establish both its midstream and downstream operations to serve markets primarily located in West Africa and the Mediterranean.
Company is actively working on the the following initiatives to improve value in this already profitable company:
>Expand our current fleet by purchasing two additional tankers, subject to financing, in order to increase monthly deliveries of crude oil by 25,000 tons (180,000 bbls) within the next 6 months;
>Finalize negotiations and execute an agreement with an oil refinery in Ghana to increase monthly crude oil deliveries by 100,000 barrels upon completion of the storage facility construction;
>Enhance our partnership relationship with an offshore oil rig in Ghana to resume oil production, storage and blending operations;
>Form a partnership with a company that provides ship-to-ship operations in the Gulf of Guinea;
> Purchase interests in oil fields in Texas and expand LNG sales from Texas to Southern European countries;
> Uplist to OTCQB
PGAS has a very strong cash position meaning company is in a position to continue to grow without diluting in addition to increasing shareholder value. A company with this strong a balance sheet and a float of 24million is definitely at a minimum or any reasonable metric worth over 15-20 cents at a minimum
PGAS annual revenue for 2017 will be in the $20-$25million range while maintaining liabilities under $500k is unheard off. The current market cap of the company is a ridiculously low $4.8 million is about what their quarterly revenue is and 1/5th of their annual revenue.
With uplisting coming up and more acquisitions in the oil and gas sector in the pipeline this is a prime opportunity to own a piece of PGAS.
Sources:
https://www.otcmarkets.com/edgar/GetFilingHtm...D=12084359
https://www.otcmarkets.com/edgar/GetFilingHtm...D=11995179
$PGAS Petrogress is an independent corporation on singular mission to go further and do more in oil & gas energy including the maritime sectors
Petrogress, Inc. Enters Into MOU to Acquire Interest in Cyprus Shipyard
https://finance.yahoo.com/news/petrogress-inc...00215.html
Petrogress, Inc. is publicly listed on the OTC Markets trading under the symbol PGAS. The Company operates primarily as a holding company for its wholly-owned three subsidiaries Petrogres Co. Ltd, Petronav Carriers llc, and Petrogress Oil & Gas Energy Inc
PGAS Security Details
Market Value1 $4,837,078 a/o Jun 27, 2017
Authorized Shares 490,000,000 a/o Apr 27, 2017
Outstanding Shares 166,795,807 a/o Apr 27, 2017
-Restricted Not Available
-Unrestricted Not Available
Held at DTC Not Available
Float 24,441,809 a/o Apr 27, 2017
Par Value Not Available
Financial details
Cash on hand = $629,115
Total Assets = $10,125,341
Total liabilities = $569,632
Quarterly Revenue = $4,019,113
Gross Profit = $1,744,528
Net Income = 252,844
Insiders own 81.5% of outstanding shares in PGAS approximately over 136,000,000 million shares are controlled by them leaving a tiny float for retail in this profitable company.
What draws me to PGAS? For me as an investor I love real otc companies with a solid management team, strong balance sheet, and a promising future and PGAS meets all those criteria. What makes PGAS unique is given the massive drop in oil prices in 2016 that wiped our many companies in this sector? PGAS only saw its annual revenue drop from from $21 million annually to $18 million and the company compensated for this by reducing its revenue cost by about $3.2 million from $15.7 million to $12.4 million .
This is especially important because during these rough times the company did not take out any bad or toxic debt and liabilities per their recent quarterly filing and audited 10k is less than $569k which is unheard off for a penny stock generating this kind of revenue.
This was possible because PGAS is a well diversified company in this sector given their maritime, oil and gas sectors and is primed to see massive growth from the rebound in the energy sector as well as growth initiatives through acquisitions.
During the first quarter of 2016, the Company changed its name from "800 Commerce, Inc." to "Petrogress, Inc." following the completion of a reverse merger with Petrogres Co. Limited ("Petrogres"
, an oil commodity trading company and sea-carrier provider of petroleum products by its four beneficially-owned affiliated vessels. As a result, Petrogres became a wholly-owned subsidiary of the Company. In connection with this merger and subsequent name change, the Company began trading under a new ticker symbol (OTC PINK: PGAS). Petrogres brings to the public company and its shareholders tangible assets (tankers ships) and strong operations, with expected growth of our gross revenue stream and a fully operational management team that is constantly looking to expand into other markets, where we have years of deep-rooted experience dealing with our trading partners.
Since its inception, Petrogres has evolved its business from focusing solely on fleet and tank er ship operations to expand into the oil and gas industry as a trader and merchant of oil. Over the last five years, Petrogres has strengthened its position as a key player in the oil and gas industry by combining its regional market knowledge with over 25 years of experience to successfully establish both its midstream and downstream operations to serve markets primarily located in West Africa and the Mediterranean.
Company is actively working on the the following initiatives to improve value in this already profitable company:
>Expand our current fleet by purchasing two additional tankers, subject to financing, in order to increase monthly deliveries of crude oil by 25,000 tons (180,000 bbls) within the next 6 months;
>Finalize negotiations and execute an agreement with an oil refinery in Ghana to increase monthly crude oil deliveries by 100,000 barrels upon completion of the storage facility construction;
>Enhance our partnership relationship with an offshore oil rig in Ghana to resume oil production, storage and blending operations;
>Form a partnership with a company that provides ship-to-ship operations in the Gulf of Guinea;
> Purchase interests in oil fields in Texas and expand LNG sales from Texas to Southern European countries;
> Uplist to OTCQB
PGAS has a very strong cash position meaning company is in a position to continue to grow without diluting in addition to increasing shareholder value. A company with this strong a balance sheet and a float of 24million is definitely at a minimum or any reasonable metric worth over 15-20 cents at a minimum
PGAS annual revenue for 2017 will be in the $20-$25million range while maintaining liabilities under $500k is unheard off. The current market cap of the company is a ridiculously low $4.8 million is about what their quarterly revenue is and 1/5th of their annual revenue.
With uplisting coming up and more acquisitions in the oil and gas sector in the pipeline this is a prime opportunity to own a piece of PGAS.
Sources:
https://www.otcmarkets.com/edgar/GetFilingHtm...D=12084359
https://www.otcmarkets.com/edgar/GetFilingHtm...D=11995179
2
