| Proposed Ticker: | - | 280 Fort Sanders West Boulevard, Suite 200 | |
| Exchange: | NASDAQ-Small Cap Market | Knoxville, Tennessee 37922 | |
| Industry: | Natural Resources | (423) 531-6562 |
| All share information is proposed | ||||
| Type of Shares: | Common Shares | Filing Date: | 9/26/96 | |
| U.S. Shares Filed: | 1,000,000 | Filing Price: | $10.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $10,000,000 | |
| Primary Shares: | 1,000,000 | Expenses: | $485,000 | |
| Secondary Shares: | 0 | Shs Out After: | 3,021,290 | |
| Manager | Tier | Phone |
| La Jolla Securities, Inc. | Lead Manager | (619) 456-8200 |
| National Securities Corp. | Lead Manager | (206) 622-7200 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/96 | |||
| Revenue: | $2.49 | $1.08 | Assets: | $5.40 | |
| Net Income: | $0.22 | -$0.12 | Liabilities: | $2.49 | |
| EPS: | Equity: | $2.91 | |||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is an independent oil and gas development and production company focusing primarily on developmental drilling and production of natural gas reserves in the Appalachian Basin and elsewhere in the mid-continent region of the United States. The company historically has developed oil and gas properties primarily by drilling natural gas wells in joint ventures with Tennessee limited partnerships for which the company serves as managing general partner. These Affliated Drilling Partnerships were syndicated by the company's affiliate, Equity Financial Corporation, an NASD-member broker-dealer, and capitalized with investor funds raised in various private offerings. The company also operates an approximately 60-mile gas gathering system servicing its primary areas of operation in southeastern Ohio. The Gas Gathering System is owned by a Tennessee limited partnership which is comprised of the company, as a managing general partner owning a 28.74% general partner interest, and a single limited partner which is another Tennessee limited partnership for which the company also serves as managing general partner. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for general corporate purposes. |
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