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Stock Ideas Top Headlines More on MGRA 
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By Roger S. Conrad I’ve never been impressed by hype surrounding supposedly “disruptive” new technologies—developments billed to change the balance of power in an industry. And my skepticism meter goes positively off the chart when the claims pertain to communications and other utility-like industries. |
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| Thursday, 04 October 2007 | ||||||||
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Goldman Sachs Group Inc. has projected that oil could be worth $100 a barrel by 2009! That's not too far off. This forecast may become true even earlier than that. We could be months away from seeing oil at this price! In the last few months I've been able to ride up Conoco Philliips (COP) but it's kind of slow, I believe MGRA could move up much faster due to it's low price. Pull up this chart on MGRA and you can see how low it's trading off it's high: This might be the biggest turn around play of the year! MGRA is focused on the acquisition, development, and exploitation of prior producing oil and gas properties. MGRA specializes in acquiring Oil & Gas leases with proven reserves that have the potential for increased production. MGRA have set their eyes on Corsicana, Texas and have entered into talks to acquire two oil leases and is in negotiations to acquire additional oil leases. The leases currently have (4) four producing wells and (3) three non-producing wells. MGRA plans to work over all the wells with the intention of increasing production. MGRA President and CEO, Billy D. King, stated, "Monogram Energy intends to aggressively pursue leases in the Corsicana, Texas area. These acquisitions fit nicely within the model as specified in the first section of our business plan." Corsicana is located in Navarro County, Texas. The first commercial oil well west of the Mississippi was drilled in Corsicana in 1894. There are currently around 700 producing wells in Navarro County, and many of them have been producing for 40 years. The county produces around 600,000 barrels annually. MGRA is currently assessing more then 25 wells in the Corsicana area. This is in keeping with the company's intent to attain as much production as possible in the Corsicana area. According to the U.S. Department of Energy Research News, two out of every three barrels of oil discovered in the United States of America remain trapped underground. MGRA intends to enhance recovery of this oil by employing the following techniques: Improved chemical treatments for existing wells, utilization of new equipment and technology for well workovers, chemical fracture stimulation systems for improved production. According to the International Energy Outlook 2007, world consumption of petroleum and other liquid fuels will grow from 83 million barrels oil a day in 2004 to 97 million in 2015 and will reach 118 million in 2030! MGRA could become monstrous as Asia's demand for oil also grows.
It is said that by 2010, India will have 36 times more cars than it did in 1990 and China will have 90 times more! MGRA is in a huge market already. Currently the world has over 6 billion people! The United Nations has projected that the number of people in the world will be over 9 billion by 2050! In August, MGRA obtained the rights to workover the Mobhun 1 well in Pecos County, Texas. Pecos County is a highly defined shallow well prospect located in Southwest Texas. The Mobhun 1 is located on an 80-acre lease and was originally completed in the Ellenberger formation at approximately 4,100'. Its last production was in 1998 when it was shut down due to low oil prices. MGRA will implement its Workover Program on the existing perforations, drill out a bridge plug and complete in the original Ellenberger zone. MGRA's analysis of the well and its reserves anticipate it should produce approximately 150-250 barrels per month. MGRA President and CEO Billy D. King, stated, "The essence of our workover program is to select wells that provide the greatest potential for increased productions by updating out of date technologies with more efficient production technologies. The market is allowing us to evaluate a greater number of wells that typically are overlooked by the larger oil producers and give us great expectations for the growth of our Company in the near future." Mr. King has also said, "We anticipate cumulative initial production of 10,000 barrels of oil per month once all wells have completed the Workover Program." At current market prices, initial net revenue to Monogram's interest could exceed $750,000.00 per month assuming all wells can complete the Workover Program in a timely manner. Source : HotOtc Also Read
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