DaReal
8 years ago
A/S increased to 1 BILLION shares per NVSOS Filing
Previous Stock Value:
Par Value Shares: 75,000,000 Value: $ 0.001
Par Value Shares: 10,000,000 Value: $ 0.001
No Par Value Shares: 0
Total Authorized Capital: $ 85,000.00
New Stock Value:
Par Value Shares: 1,000,000,000 Value: $ 0.001
Par Value Shares: 10,000,000 Value: $ 0.001
No Par Value Shares: 0
Total Authorized Capital: $ 1,010,000.00
and Name changed to :
GLOBAL E-COMMERCE HOLDINGS CORP
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=lmm8SZW15RPDSzg12FQyYg%253d%253d&nt7=0
SeaOhToo
9 years ago
This just about tells it all.....
On June 4, 2012, ECCE entered into an agreement though a special purpose entity named EFOGC – East Pearsall, L.L.C., a Texas limited liability company. ECCE owns 100% of the Class B Membership Interests in EFEP, while Medallion Oil Corp. (MOC) owns 100% of the Class A Membership Interest. EFEP completed the acquisition of 85% Working Interest in 3,683 acres in Frio County, Texas from Amac Energy, L.L.C. to drill and develop the Austin Chalk, Buda, Eagle Ford and Pearsall Shale The agreement with AMAC Energy was to purchase the 85% of the working interest on the East Pearsall lease. As part of the sales agreement, ECCE had to drill the one well on each of the three leases prior to 6 months of the expiration of the leases. Due to the fact that ECCE was unable to acquire drilling funds per the agreement prior to the agreed date, ECCE was required, as stated in the agreement, to reassign the leases back to AMAC Energy. As a result as stated in the settlement agreement, On July 8, 2014 the MOC-East Pearsall Board of Directors approved the release of all liens to AMAC and ECCE has been released from any obligation to AMAC Energy. As of September 30, 2014, an impairment charge of $6,464,436 was taken against this property.
MOC invested $7,000,000 into EFOGC – East Pearsall, LLC for the sole purpose of acquiring the AMAC leases, with MOC owning 100% of A series common stock and ECCE owning B series common stock as “designated operator”. Per the agreement with MOC, ECCE was required to acquire a minimum of $10,500,000 drilling capital by December 2012, however, ECCE was unsuccessful. MOC granted an extension for another six months, however ECCE was also unsuccessful in that attempt to raise funds as it was in all future periods. A part of the original agreement required that the East Pearsall, LLC return the original capital investment of $7,000,000 out of those funds, along with interest of 10% on that balance. As of September 30, 2014, the loan from MOC $7 million was outstanding against this property.
With the leases being reassigned to AMAC Energy and the subsequent agreement with MOC to close East Pearsall, LLC, the entity of EFOGC – East Pearsall is currently “winding down” and will be closed as an operating entity in the state of Texas. With this winding down, ECCE will no longer have any liability relative to EFOGC – East Pearsall and the East Pearsall leases. We anticipate completing this closure within a month of this report.
Timothy Smith
12 years ago
Interesting action today.
Eagle Ford Oil & Gas Corporation Provides Operations Update
Oct 1, 2012 6:31:00 AM
2012 GlobeNewswire, Inc.
HOUSTON, Oct. 1, 2012 (GLOBE NEWSWIRE) -- Eagle Ford Oil & Gas Corp. (OTCMarkets:ECCE), a growing independent oil and gas exploration and production company, today provides an update on internal analysis of its leasehold in Frio County, Texas.
As previously announced, the Company acquired an 85% working interest in 3,684 acres in Frio County, Texas located south of San Antonio, Texas. The purchase price for the acreage was $6.26 million and is funded by project finance from a private fund.
The Company's technical team, headed up by Dr. Ron Bain, has done an internal study of the three primary target formations, the Austin Chalk, Eagle Ford Shale and Buda Limestone, regarding estimated total oil and natural gas production and estimated net revenue. As reflected in the Frio County Reserve Report, the "Expected Case – 40 well program" has potential net revenue of $351 million (10,375 MBOE) and the "Upside Case – 62 Well Program" which includes the Pearsall Shale has potential net revenue of $585 million (21,525 MBOE).
The above net revenue figures and MBOE (thousand barrels of oil equivalent) (6,000 cubic feet of gas = 1 BOE) is based on an 85% working interest, a 63.75% net revenue interest with non-escalating commodity prices of $95 per barrel of oil and $3.60 per Mcf (thousand cubic feet) of gas.
Austin Chalk
For the "Expected Case," the Austin Chalk formation would require a total of 12 wells to develop the formation. Similar wells in area have a total EUR (estimate ultimate recovery) of 188,000 boe with a net cost to drill and complete each well of $3 million.
Eagle Ford Shale
For the "Expected Case," the Eagle Ford Shale would require 6 wells to develop the leasehold acreage, net cost per well is estimated to be $5.5 million and similar wells in the region have an EUR of 438,000 boe.
Buda Limestone
For the "Expected Case," a total of 22 wells would be needed to develop the Buda Limestone formation, net well cost is estimated to be $3 million with an EUR of 250,000 boe per well.
Management Comments
Mr. Paul Williams, CEO of Eagle Ford Oil and Gas, said, "We cannot stress enough that these are internal estimates, yet they are the best estimates possible based on public data from new wells being drilled all around us and well bore data available to us from oil wells on the leasehold. Our team, headed up by Dr. Ron Bain, has years of big company experience analyzing oil and gas fields around the world and we feel confident that the numbers in this report are accurate and demonstrate the immense potential the leasehold has for Eagle Ford and our shareholders." Mr. Williams went on to say, "We are currently in discussion with several financial institutions who are interested in partnering with us to fund this drilling program."
For review of the Frio County Reserve Report, please visit our Company website at www.efogc.com or locate in the Company's current SEC filings online.
About Eagle Ford Oil & Gas Corporation
Eagle Ford Oil & Gas Corp. engages in exploration and development of oil and gas production properties. The Company specializes in acquiring, exploring and developing oil and gas producing assets in the Gulf Coast region of Texas and Louisiana. Eagle Ford Oil & Gas has a team comprised of senior professionals with distinguished records of achievement and success in the targeted focus area.
Forward-Looking Statements
Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of ECCE officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future ECCE actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and ECCE has no specific intention to update these statements.
CONTACT: Investor Contact:
Brad Holmes
Energy Ir
(713)654-4009
B_holmes@att.net
Source: Eagle Ford Oil & Gas Corp.
budfoxstocks
13 years ago
Eagle Ford Oil & Gas Corporation Retains Assured Value Advisors, LLC as Its Advisory Consultants to Expedite the Company's Gr...
Today : Friday 7 October 2011
Eagle Ford Oil & Gas Corporation (OTCBB:ECCE), a growing independent oil and gas exploration and production company, announced today that it has retained Assured Value Advisors, LLC ("AVA"), as its advisory consultants to expedite the company's growth. Headquartered in New York, AVA specializes in working with undiscovered public companies and providing them with global access to the finest investment professionals. As strategic partners with Eagle Ford's management team, AVA will assist the company in accelerating company growth, as well as navigating the strategic implementation of property acquisitions and expansion projects.
Alan Hirsch and Stan Altschuler have a combined 55 years of experience successfully advising over 100 public companies in a variety of sectors. Altschuler spent 8 years advising Boots and Coots, an oil and gas servicing company that was eventually acquired by Halliburton, while Hirsch recently advised Energy/Utility Concern Consonsus on a recent merger and IPO. "The principals of Assured are excited to join the Eagle Ford team because of their existing production and excellent drilling prospects across Texas and Louisiana. Eagle Ford also has a strong management team in place to further execute our plan of acquiring additional properties and acquisitions," commented Altschuler.
"Market demand for Oil and Gas will always be steady for a domestic producer," said Paul Williams, CEO of Eagle Ford. "Assured's aggressive institutional outreach and financial knowledge, combined with their deep experience in corporate finance will be invaluable to Eagle Ford as we power our next phase of growth."
About Eagle Ford Oil & Gas Corporation
Eagle Ford Oil & Gas Corp. engages in exploration and development of oil and gas production properties. The Company specializes in acquiring, exploring and developing oil and gas producing assets in the Gulf Coast region of Texas and Louisiana. Eagle Ford Oil & Gas has a team comprised of senior professionals with distinguished records of achievement and success in the targeted focus area.
Forward-Looking Statements
Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of ECCE.OB officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future ECCE.OB actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and ECCE.OB has no specific intention to update these statements.
CONTACT: Investor Contact:
Assured Value Advisors, LLC
Alan Hirsch
Stan Altschuler
212-838-1510
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