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Our Stocks to Watch today include Monogram Energy Inc. (OTC: MGRN), USA Superior Energy Holdings Inc. (OTCBB: USSU), Security With Advanced Technology Inc. (NASD: SWAT), Expert Group Inc. (OTC: EXPT)
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MONOGRAM ENERGY INCORPORATED (OTC: MGRN)
Detailed Quote: http://www.otcpicks.com/quotes/MGRN.php
Company Profile: http://www.otcpicks.com/monogram-energy/monogram-energy.htm
Monogram Energy, Inc. is an independent energy company engaged in the acquisition, development, and exploitation of oil and gas properties. The company specializes in acquiring oil & gas leases with proven reserves that have the potential for increased production.
MGRN News:
June 2 - Monogram Energy, Inc. Announces 50% Production Capability Increase in Corsicana, Texas
Monogram Energy, Inc. (OTC: MGRN), an independent energy company engaged in the acquisition, development, and exploitation of oil and gas properties, announced that the Company's six wells on the T.W. Martin lease are currently producing, and that the three additional wells in the workover process should be completed by the end of June.
The 9 total wells are then expected to produce 2 barrels per day each for a projected yield of 540 barrels per month. This workover progress represents a 50% increase from the May 13th release projections of 270 barrels per month based on production estimates on the initial 6 wells.
The T.W. Martin lease comprises 70 acres with 12 wells and is located in Navarro County, Texas, which produces around 600,000 barrels annually.
"We're very pleased with our progress so far. With a little luck we might even complete our current workovers ahead of schedule," stated Mr. Billy King, Chief Executive Officer of Monogram Energy, Inc.
Mr. King became interested in the production of oil & gas during his ten years of employment as an attorney for the Halliburton Company, and with his representation of independent oil companies during his years as a private practitioner. Monogram Energy's goal is to maintain a high risk/reward profile, thereby enabling them to return the most value to its shareholders.
USA SUPERIOR ENERGY (OTCBB: USSU)
Detailed Quote: http://www.otcpicks.com/quotes/USSU.php
Company Profile:
http://www.otcpicks.com/usa-superior-energy/usa-superior-energy-3.htm
USA Superior Energy Holdings, Inc., a development stage company, operates in the energy industry in the United States. The company, through its wholly owned subsidiary, USA Superior Energy, Inc., engages in the development, ownership, and operation of prospects and energy projects in East and Southeast Texas. It also focuses on using nitrogen technology to recharge and produce oil and gas from under-pressured partially depleted reservoirs. The company was founded in 2005 and is based in Houston, Texas.
USSU News:
June 2 - USA Superior Reports First Quarter 2008 Results
USA Superior Energy Holdings, Inc. (OTCBB: USSU) (the "Company"), a Houston-based energy company focused on acquiring, owning, operating and applying enhanced oil recovery ("EOR") techniques to existing shallow fields of oil and gas that have been idle or marginally producing, is reporting its operating results for the quarter ended March 31, 2008 and its filing of an amended Quarterly Report on Form 10-Q/A for the three months ended March 31, 2008.
For the quarter ended March 31, 2008, the Company's net loss decreased to $516,740, compared to the same quarter 2007 net loss of $3,379,474. The major components of the first quarter 2008 loss were general and administrative expenses of $463,751 including stock based compensation of $207,436. Stock based compensation in the first quarter of 2008 included warrants issued to the Company's financial consultant and shares issued to a key employee. This compares to general and administrative expenses of $3,375,085 including stock based compensation of $3,020,000 in the quarter ended March 31, 2007 related to the reverse merger and compensation of employees and consultants in the Quarter Ended March 31, 2007.
Revenues for the quarter ended March 31, 2008 increased to $115,563 from $15,443 in the same period of 2007. This increase reflects a full quarter of operations of the Bateman Project which was acquired at the comparable quarter's end in 2007. Sales volume for the first quarter 2008 was a net 1,322 barrels, which was a substantial increase over third quarter and fourth quarter volume of 727 barrels and 139 barrels, respectively. This increase represents the successful results of workover and treatment operations in the Bateman Field performed during the first quarter of 2008. The Company anticipates a further sales volume increase for the second quarter of 2008 as sales volume has exceeded a net 1,183 barrels in the month of May 2008. The Company realized an average price of $91.63 per barrel during the quarter ended March 31, 2008.
Mr. Rowland Carey, Chairman and CEO, stated: "For the remainder of 2008 we remain focused on the continuing workover and acceleration of revenue from our Bateman Project and preparations for EOR operations to begin in the second half of 2008. We are also seeking to strengthen our management team, increase our capital base to fund our EOR operations and growth to continue our business strategy of acquiring and joint venturing shallow fields of oil and gas that have been idle or marginally producing."
The following chart summarizes the Company's sales of oil and gas since its acquisition of the Bateman project on March 20, 2007:
The Company's ability to maintain and increase sales from recent levels is dependent on its ability to raise funds to correct its working capital deficit and for the investment of additional funds into the extensive maintenance, workover and planned enhancement operations to accelerate the realization of production volumes.
On May 30, 2008, and substantially ahead of the OTCBB grace period deadline of June 20, 2008, the Company also filed an amended Quarterly Report on Form 10-Q for the three months ended March 31, 2008, which included the required management certifications and independent registered public accounting firm's review of its consolidated financial statements included in its Quarterly Report on Form 10-Q for the three months ended March 31, 2008. In addition, subsequent to the filing of our Form 10-Q, the Company concluded that it was required to restate previously issued financial statements for the quarters ended March 31, 2008 and 2007. Management determined that a restatement was necessary in respect of the following: revision of stock based compensation for 2007, revision of the valuation of stock and warrants to be issued under a financial services contract in 2008, correction of the timing of recording certain transactions in 2007. As a result of these revisions to our financial statements, our previously issued financial statements for the quarters ended March 31, 2008 and 2007 (which were included in our Quarterly Reports on Form 10-Q) should no longer be relied upon. Restated financials for the quarters ended March 31, 2008 and 2007 are included in the filing on Form 10-Q/A filed on May 30, 2008. These changes do not effect the financial statements contained in the Annual Report on Form 10-K for the year ended December 31, 2007, which may continue to be relied upon. For more information, visit www.usa-superior.com.
SECURITY WITH ADVANCED TECHNOLOGY (NASD: SWAT)
"Up 13.41% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/SWAT.php
Security With Advanced Technology, Inc. provides security related products and services in the United States. Its products and solutions include non-lethal devices, surveillance and intrusion detection systems, and mobile digital video surveillance solutions. The company's products and services are designed for government agencies, military, and law enforcement, as well as to transportation, commercial facilities, and non-lethal personal protection segments. The company was founded in 1999. It was formerly known as A4S Technologies, Inc. and changed its name to A4S Security, Inc. in 2005. Further, the company changed its name to Security With Advanced Technology, Inc. in 2006. The company is headquartered in Louisville, Colorado.
SWAT News:
June 4 - Security With Advanced Technology's Vizer Group Signs Authorized Security Distribution Agreement With Johnson Controls
EXPERT GROUP INCORPORATED (OTC: EXPT)
"Up 10.00% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/EXPT.php
Expert Group, Inc. is a diversified financial services company which markets a variety of financial products and services through Expert Financing, Expert Group Title Services, Expert Credit Fix USA. Expert is licensed by the department of Financial Regulations and a member of FAMB, and since inception, Expert has originated over $50 million in origination. The Company offers a stock option plan to its loan officers, brokers, title agents, and processors.
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Forward-Looking Statement: This press release includes "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.
Disclosure: OTCPicks.com has been compensated sixty thousand free trading shares by a non-controlling third party for USSU advertising and promotional services. OTCPicks.com has received two hundred fifty thousand free trading shares from a non-controlling third party (Microcap Management) for MGRN advertising and promotional services.
OTCPicks.com is not a registered investment advisers or broker/dealer. OTCPicks.com makes no recommendation that the purchase of securities of companies profiled in this website is suitable or advisable for any person or that an investment such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market their securities, investing in such securities is highly speculative and carries a high degree of risk.
