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On 12/23/99, RDOX announced it established partnership agreements
to manufacture its patented high energy density batteries with two
strong manufacturers. CEO Szymanski says: "We have joined some of
our advanced technology peers in establishing manufacturing operations
in Penang's (Malaysia) Silicon Island. Intel, Motorola, Hewlett
Packard, Dell, Xircom, & Applied Magnetic Devices have located manufacturing
operations there. We joined them to take advantage of the skilled
workers, engineers, technicians, & ISO 9002 certified facilities
afforded.
"The two facilities we established partnerships with are NCE &
Ling Dynamic. Both are MS ISO 9002 certified & SPC ISO 5S organizations.
Their emphasis on quality, timely delivery, & cost competitiveness
will allow ReDox to rapidly transition from an R&D company to a
multinational corporation in the niche markets in which our competitive
advantages will be difficult to emulate."
If this technology works as well as it looks to me, it's my opinion
that this situation will be a long-term winner about as good as
Microsoft or Intel was. Keep tuned, because there is more news coming.
RDOX is trading at 11/32 as I write this (12/28/99). Call CEO Richard
A. Szymanski @ 281-445-0020, fax 281-445-0022, or write 340 North
Sam Houston Pkwy., Suite 250, Houston, TX 77060. www.internetstockmarket.com/redox
[R-6; M-8; L-9]
Tidelands Oil & Gas Corporation
A joint venture with Hudson SVD, LLC, a wholly owned subsidiary
of Falco Energy Services, (FALCO) & CLECO Energy, LLC, created Rio
Bravo, which operates a gas processing plant. Sonora pipeline LLC
operates a gas pipeline which feeds the gas processing plant. This
joint venture creates a excellent revenue stream for Tidelands.
These revenues are supported by long-term contracts giving the
company a secured revenue stream & solidifying its existence & ability
to expand. This venture calls for FALCO & CLECO to provide all the
funds necessary to test, repair, manage, & operate the gas processing
plant & pipeline.
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CONOCO owns/controls the northern approximately 20,000 acres of
a productive area overlying the San Miguel field, & TIDE owns/controls
the southern 29,800 acres of the same field.
All of the gas produced by CONOCO's 3,000 gas wells is transported
by the Sonora pipeline & processed by the Rio Bravo Energy LLC processing
plant. Keep in mind that TIDE owns 50% of each of those potentially
very profitable operations. On 12/20/99, TIDE announced that Rio
Bravo entered into a natural gas processing agreement with Merit
Energy. All the natural gas produced by Merit from its Pena Creek
property is being processed by Rio Bravo beginning 12/6/99.
When the price of oil & gas hit bottom a few years ago, TIDE shut
down many of its wells. Now that the price is back in an economically
feasible range, TIDE is beginning to reopen those wells. That, plus
the fortunate move into the pipeline & gas processing plant makes
this situation a turnaround.
Market
TIDE's Texas holdings of oil properties include 3,600 acres in
Maverick County with an option on 20,000 additional acres for future
development. The estimate of recoverable oil is as high as 100,000,000
barrels; enough to last another 50 years.
A unique aspect of the situation is that the wells adjoin Continental
Oil Co. (CONOCO) leases. CONOCO is a major oil & gas company. To
date, the CONOCO leases have produced in excess of 37 million barrels
of oil & 20 billion cubic feet of gas. TIDE's natural gas properties
include 2,800 acres with additional options for 27,000 acres. The
total recoverable gas reserves underlying all the acreage is estimated
to be in the range of 17 billion cubic feet.
On 12/8/99, TIDE announced it signed a contract with Genesis Oil
& Gas Co. to develop 160 wells. Estimated income from the project
when fully developed should be $810,000 per month, after landowner
royalty.
In the contract, Genesis will fund the development of TIDE's reserves,
including lease bonus money on option acreage. Genesis is committed
to drill two wells per month for the first six months & four wells
per month thereafter until the acreage block is developed for a
total of 160 wells in a four-year period.
TIDE will receive 25% interest before pay out & an additional
15% after pay out, totaling a 40% interest. The total four-year
commitment by Genesis is $2.5 million per year. The total drilling
commitment is $10 million resulting in 160 wells.
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