$XNRG Business Description We are an independen
Post# of 26709
Posted On: 08/30/2013 10:13:42 AM
$XNRG
Business Description
We are an independent oil and natural gas development and production company. Our basic business model is to increase shareholder value by finding and developing oil and gas production through the development activities, which include re-entering oil and gas well, that have historical oil and gas production or are currently producing oil and gas, and selling the production from these, worked over wells at a profit in the State of Kentucky. To be successful, we must, over time, complete our goal of raising sufficient funds for a 10 well workover program scaling up to a 100 well workover program on our oil and gas leases in Kentucky over the next year and then sell the resulting production at a price that is sufficient to cover our operating expenses, administrative costs and interest expense, plus offer us a return on our capital investment.
We have a limited operating history of oil and gas production and no proven reserves, small amount of production and negative cash flow. To date, we have had limited revenues and have not been able to generate sustainable positive earnings on a Company-wide basis. Our management cannot provide any assurances that the Company will ever operate profitably. As a result of our limited operating history, we are more susceptible to the numerous business, investment, and industry risks that have been described in Item 1A. Risk Factors of our Annual Report on Form 10-K, filed with the SEC on September 28, 2011.
Business Description
We are an independent oil and natural gas development and production company. Our basic business model is to increase shareholder value by finding and developing oil and gas production through the development activities, which include re-entering oil and gas well, that have historical oil and gas production or are currently producing oil and gas, and selling the production from these, worked over wells at a profit in the State of Kentucky. To be successful, we must, over time, complete our goal of raising sufficient funds for a 10 well workover program scaling up to a 100 well workover program on our oil and gas leases in Kentucky over the next year and then sell the resulting production at a price that is sufficient to cover our operating expenses, administrative costs and interest expense, plus offer us a return on our capital investment.
We have a limited operating history of oil and gas production and no proven reserves, small amount of production and negative cash flow. To date, we have had limited revenues and have not been able to generate sustainable positive earnings on a Company-wide basis. Our management cannot provide any assurances that the Company will ever operate profitably. As a result of our limited operating history, we are more susceptible to the numerous business, investment, and industry risks that have been described in Item 1A. Risk Factors of our Annual Report on Form 10-K, filed with the SEC on September 28, 2011.
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