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| Vision Energy, Inc. |
| 50 Briar Hollow Lane, 7th Floor, West Building, Houston, TX 77027 * (713) 881-8900 |
| Business Description | The company is an independent energy company engaged in the exploration, development and production of natural gas and oil from properties located primarily in East and South Texas, Louisiana and California. |
|
Filing Information Not yet | |||
| To Trade As | VNRG (NASNTL) | Industry | Natural Resource (SIC 1311) |
| Type of Stock Offered | Common Shares | Filing Date | 11/12/99 |
| Domestic Shares Filed | 12,915,000 | Filing Range | $12.00 - $14.00 |
| Foreign Shares Filed | 0 | Offering Amount | $167,895,000 |
| Company Shares | 0 | Est. Expenses | - - |
| Selling Shrhldrs Shares | 12,915,000 | Post-IPO Shares | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| CIBC World Markets | Lead Manager | (212) 667-7400 |
| A.G. Edwards & Sons, Inc. | Co-manager | (314) 955-3039 |
| Southcoast Capital Corp | Co-manager | (212) 940-9488 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 6 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/96 | 12/31/97 | 12/31/98 | 6/30/98 | 6/30/99 | ||
| Revenues | - | - | 17.473 | 25.680 | 18.994 | 9.810 | 8.547 |
| Income from Oper. | - | - | 5.203 | -6.336 | -0.904 | -0.426 | 0.390 |
| Net Income | - | - | 2.168 | -8.803 | -3.647 | -1.794 | -1.643 |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | - | - | 46.97 | -26.036 | -12.87 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | 29.78 | - | - | 4.56 | - |
| Net Profit Margin (%) | - | - | 12.41 | - | - | - | - |
| Cash Flow - Oper. | 17.50 | 8.88 | 7.43 | ||||
| Cash Flow - Inv. | -42.03 | -24.89 | -20.69 | ||||
| Cash Flow - Fin. | 24.53 | 16.01 | 13.26 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 6/30/99 | Financial Ratios | ||||
| Total Assets | 165.01 | Current Assets | 5.45 | Current Ratio | 0.87 |
| Total Liab. | 173.03 | Current Liab. | 6.28 | Debt Ratio | 104.86% |
| Total Equity | -8.03 | Working Cap. | -0.83 | Debt to Equity Ratio | - |
| Cash | - | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be distributed to the selling shareholder. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Gardere & Wynne |
| Bank's Law Firm | Baker & Botts |
| Auditor | Arthur Andersen |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Horace Calvert | 81.00 | |
| Seitel | 19.00 | |
| Note: represents ownership of 5% or more prior to the offering. | ||