| Proposed Ticker: VGCO | 120 South Court Street | |
| Exchange: NASDAQ-National Market | Abingdon, Virginia 24210 | |
| Industry: Natural Resources | (540) 676-2380 |
| All share information is proposed | ||||
| Type of Shares: | Common Shares | Filing Date: | 8/5/96 | |
| U.S. Shares Filed: | 1,533,000 | Filing Price: | $6.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $9,198,000 | |
| Primary Shares: | 1,533,000 | Expenses: | $250,000 | |
| Secondary Shares: | 0 | Shs Out After: | 3,150,740 | |
| Manager | Tier | Phone |
| Anderson & Strudwick, Incorporated | Lead Manager | (804) 643-2400 |
| Auditor: Arthur Andersen | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $4.44 | $2.63 | $2.35 | Assets: | $29.47 |
| Net Income: | $0.47 | $0.21 | $0.27 | Liabilities: | $19.56 |
| EPS: | Equity: | $9.91 | |||
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 integrated natural gas company engaged in natural gas storage, gathering and distribution services; natural gas exploration, production and well operation; pipeline operation; and propane distribution. The company conducts its operations primarily in the southwestern countries of the Commonwealth of Virginia. It is the company's intention to take advantage of deregulation of the domestic natural gas industry by providing services previously supplied by the interstate pipeline companies. The company's strategy is 1) to increase storage and related pipeline capacity to meet increasing demand for natural gas services in its market area, 2) to add value to its natural gas production by distributing natural gas directly to residential, commercial and industrial users through its natural gas utility, 3) to maximize the volume of natural gas it gathers and markets, 5) to increase its natural gas reserves through selective acquisitions. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for general corporate purposes including but not limited to completion of the Saltville Facility; expanding the Early Grove Facility; the development of natural gas and propane distribution systems in Russell and Buchanan Counties, Virginia; and development of the P-25 pipeline. |
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