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TBX Resources Inc. (OTCBB:TBXR)
GROWTH ANNOUNCEMENTS AND HUGE NEWSLETTER COVERAGE THIS WEEK FOR TBXR !!!
In the past weeks TBXR has been profiled by some major newsletters and its getting more notice. There has been and will continue to be nice volume and a strong increase in price for several days. These are the same newsletters that profiled CLKS two weeks ago. They brought CLKS from $1.50 to $4.35 in ten days. We know for certain that the same groups are going to profile TBXR starting on Thursday---tomorrow 8/9/01. Not to mention that if you own the stock before August 15th which is next week, you will get shares of the new companies subsidiary GULFTEX drilling (read July 10th press release below). TBXR is a debt free profitable oil and gas drilling company. They are aggressively expanding there operations..and the stock price is reflecting there growth.
We are very proud that we can share this information with you so that you can make a profit out of it. It is highly advisable to consider taking a position in TBXR as soon as possible, today before the market closes, or tomorrow at the latest. Once again may I also add that this is not a daytrade..it is a longer term hold with continuous upside potential.
The stock shot right up from its 52 week low of .60 cents to $2.35 per share and is ready to break out over $3 and will start moving up immediately from there. We believe the stock could easily reach its 52 week high of $5.35 in less than a month as an initial target. Then look for a possible run to $10 - $15 per share over the next six to twelve months. Shares Outstanding: 14,559,027 as of 1999-11-30
TBX Resources Inc. Announces Spin-Off of New Drilling Company
DALLAS--(BUSINESS WIRE)--July 10, 2001--TBX Resources Inc. (OTCBB:TBXR - news) announced today the formation of GULFTEX Drilling Inc., a new drilling company that is a wholly owned subsidiary of TBX Resources Inc., to be spun off to TBX's shareholders. The spin-off will be initiated by a stock dividend to existing TBXR shareholders of record as of August 15, 2001 whereby one share of GULFTEX common stock will be distributed for every five shares of TBXR owned. GULFTEX Drilling Inc. expects to actively pursue the acquisition of three drilling rigs and one rework rig.
TBX Resources Inc. also announced today that they have contracted to acquire 100% of the Working Interest with a related 75% Net Revenue Interest in leases covering 3,363 acres in the Barnett Shale in Montague County, Texas from American West Resources Inc. The Barnett Shale development project consists of as many as 30 wells potentially to be drilled over the next 24 months. The drilling rigs are expected to be on location in the Barnett Shale field as soon as GULFTEX completes the acquisition of the rigs. According to American West Resources Inc., projected reserves for these leases may reach 1.5 BCF (billion cubic feet) per well. Based on that projection, the potential reserves could be as high as 45 Billion Cubic Feet of Gas to be developed throughout the life of the project. According to TBX's accountants report, the Pro Forma numbers could possibly be as much as $70 Million in revenue to TBX Resources Inc., over the life of the project, although no assurances can be ma!
de that these leases will live up to TBX's expectations. An option agreement was executed to acquire an additional 7,000 acres to further develop the Barnett Shale in the same area of Montague County, Texas.
Mitchell Energy & Development Corp. announced on June 14th that they have drilled nearly 700 wells in the Barnett Shale since 1990 and attributes a 38% increase to their bottom line for 2001 due to their Barnett Shale success. They recently announced plans for the drilling of 1,180 additional wells over the next 4 years, with the current 55-acre spacing. That activity, along with drilling by other producers, have expanded the area's previously proven limits by more than 50% to cover 120,000 net acres, officials said.
This release may contain certain forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995), which reflect the views of TBXR's management with respect to future events. These statements are subject to uncertainties and other factors that could cause actual results to differ materially from the statements made. Readers are cautioned not to place undue reliance on any of these forward looking statements since there can be no assurances that the forward looking information contained herein will in fact transpire.
NOTE to U.S. Investors -- The U.S. Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to discuss only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. Certain terms used such as ``probable'' and ``possible'' are terms that the SEC's guidelines strictly prohibit issuers from including in filings with the SEC. U.S. investors are urged to review all public filings made by public companies.
**** This stock pick and profile was sent to you free of charge in the hopes to help you make money. Feel free to distribute this profile to anyone you know of that trades stocks. PLEASE do your own research before buying this stock..we want you to as feel safe about the investment you are about to make as we do. All we ask in return, is when you make money over the long term with our picks, that you consider giving back to a charity in your area. We are grateful to be able to do what we do and help others. Wishing you health, happiness and successful trading.
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