| colonial doCotton Valley Resources, Inc. | |||
| Proposed Ticker: | CTVYF | 8350 North Central Expressway, suite M2030 | |
| Exchange: | NASDAQ-Small Cap Market | Dallas, TX 75206 | |
| Industry: | Natural Resources (SIC Code 1381) | (214) 363-1968 | |
| Type of Shares: | Common Shares | Filing Date: | 1/23/97 | |
| U.S. Shares Filed: | 1,250,000 | Filing Price: | $6.20 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $7,750,000 | |
| Primary Shares: | 1,250,000 | Expenses: | $425,000 | |
| Secondary Shares: | 0 | Shares Out After: | 12,904,901 |
| Manager | Tier | Phone |
| National Securities Corp. | Lead Manager | (800) 800-9217 |
| Issuer's Law Firm: | Weir & Foulds |
| Bank's Law Firm: | Maurice J. Bates, L.L.C. |
| Auditor: | Hein & Associates |
| Registrar/Transfer Agent: | Equity Transfer Services, Inc. |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 6/30/96 | 6/30/96 | ||||
| Revenue: | $0.00 | Assets: | $11.98 | ||
| Net Income: | -$0.71 | Curr Assets: | |||
| EPS: | -$0.06 | Liabilities: | $2.86 | ||
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | -$0.27 | Equity: | $9.12 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is a development stage oil and gas exploration, development and production company, with no operating history. Through its wholly owned subsidiary Cotton Valley Energy Corporation, the company owns 1) approximately 6,000 acres of primarily non-producing oil and gas leases in the Cheneyboro Field of Navarro County, Texas, 2) a 25% working interest in 1,145 acres of oil and gas leases in the Movico Field of Mobile County, Alabama, and 3) an option to acquire a 51.8% working interest in the Sword Unit, offshore Santa Barbara, California. Cotton Valley recently acquired an interest in the Alden Field of Oklahoma. At June 30,1996, Cotton Valley's proved oil reserves were approximately 4.8 million Bbl, and its proved gas reserves were approximately 13.5 million Mcf. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for development drilling, to acquire acreage, to reduce debt and for working capital. |