Tidelands Oil & Gas Corporation

• Developers of oil & gas in TX for 17 years
• 75,000,000-100,000,000 barrels of oil estimated re-serves
• Owns 150 wells & has an asset value of $11.5 million
• $23 million estimated an-nual revenues from its 50% interest in a pipeline & gas pro-cessing joint venture
• 17 billion cubic feet of gas from one productive zone
• 160 new wells to be drilled with Genesis Oil & Gas Co.
• This is a turnaround situation

Key Facts

Business: Pipeline operation & oil & gas production
Listed: OTC Bulletin Board
Symbol: TIDE
Price (12/27/99 Last): 1-1/2
Dow (12/27/99 Close): 11,391.08
NASDAQ (12/27/99 Close): 3,975.38
S&P 500 (12/27/99 Close): 1,457.10
Russell 2000 (12/27/99 Close): 484.46
52-Week Range: 3/8 - 3-5/8
Shares Out: 15.4 million
Approx. Float: 1.5 million
Market Cap: $23.1 million

Overview

Tidelands is engaged in the acquisition, exploration & development of oil & gas properties. Unlike most oil & gas exploration companies, Tidelands' management foresaw the downturn in oil & gas prices in the mid-90s.

They recognized a significant market for liquefied natural gas products within 20 miles of their property; a significant advantage over the only competitive supply 200 miles away. They then wisely diversified into the marketing end of the industry to exploit the situation.

History

Tidelands Oil & Gas Corporation is the parent company of two wholly owned Texas subsidiary corporations: Tidelands Oil Corp., & Tidelands Gas Corp. TIDE's manage-ment collectively has in excess of 100 years of experience in all phases of the oil & gas industry.

Tidelands Oil Corp., formed in 1985, has $2.8 million assets. It owns & has operated approximately 150 oil wells on about 3,600 acres of oil & gas leases in Maverick County, TX. Tidelands Gas Corp., formed in 1996, has assets of approximately $5.6 million. It owns & operates several gas wells on 2,800 acres in the same county.

Business/Products

TIDE is in the oil & gas production business, marketing its crude to refineries on the lower Gulf Coast of TX. In addition, it has a 50% interest in a natural gas pipeline approximately 50 miles in length, covering three counties.

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