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If you're not
watching this company you should be!
Why? Today, oil is again above $50 a
barrel. Read on...
If you thought the oil boom has been impressive,
wait till you see the coming boom in natural gas. This company
is after it all...
Apex Resources Group Inc.
(OTC BB:
SALT LAKE CITY, Feb 2, 2005 (BUSINESS WIRE) -- Apex Resources Group Inc. (OTC BB: North America's last great gas reserves, with up to 200 trillion cubic feet, have remained "trapped" in the North Slope, and with gas prices finally in a range to make it economic to develop, competition is beginning to move that gas to the southern U.S. markets. Apex Resources Group Inc., concurrently reported on news within the last two months that only reinforces the value of its interest located in the Beaufort Sea. Apex Resources Group Inc. interest in the Itiyok 1-27 well in Beaufort Sea, which was drilled in 1983 is a 3.745% working interest. A review of the well data and geological prognosis indicates that a 640 acre area would contain proven recoverable gas reserves of 108 Bscf and proven recoverable oil reserves of 8,976 MSTB working interest net reserves of 4.04 Bscf and 336 MSTB. Seismic data indicates a structure closure of approximately 40 square KM with a gross potential reserve of 1.16 TCF and 160 MMSTB (working interest net - 34 Bscf and 4.7 MMSTB). The lands in which the Apex Resources Group Inc. owns an interest comprise of 21.54 square KM containing gross potential reserves of 625 Bscf of gas and 86 MMSTB of oil (working interest 23.4 Bscf of gas and 3.2 MMSTB of oil). With oil at approximately US$50.00 per barrel and gas close to US$7.00 per cubic feet, Apex interest in proven reserves would be 45 Million Dollars and with an additional potential to be drilled out would represent 323 Million Dollars. On October 13, 2004, Apex Resources Group Inc. announced the application for the $7 Billion Mackenzie Valley pipeline being filed with the regulatory bodies. The consortium behind the Mackenzie Valley natural gas pipeline, Imperial Oil, ConocoPhillips, Shell Canada Ltd., ExxonMobil Canada and the Aboriginal Pipeline Group, filed the 8,000 page application with the National Energy Board to begin the process of environmental and regulatory review. The need for the pipeline is paramount to transport from the Arctic through Canada to the Southern United Sates. On October 26, 2004, Apex Resources Group Inc. announced the further development of a $20 Billion natural gas pipeline from Alaska through Canada to the lower 48 States. The U.S. congress approved $18 Billion of loan guarantees to construct this $20 Billion Dollar natural gas pipeline. The major owners of Alaska gas reserves, ConocoPhillips (NYSE: COP), ExxonMobil Corp. (NYSE: XOM) and BP Plc (NYSE: BP). On December 13, 2004, Apex Resources Group Inc. learned that drilling is to commence by major exploration companies in the Beaufort Sea area and Mackenzie Delta area. These two areas are near each other in the Arctic Ocean, where Apex Resources Group Inc. has a 3.745% working interest in the Itiyok 1-27 well. Devon Energy (NYSE: DVN) announced on December 2, 2004 that the company is spending $60 million in its first year of its planned drilling program in the Beaufort Sea. In a comprehensive report filed with the National Energy Board of Canada on nine potential drilling locations and a 10th location, the island of Mason Bay, are planned. At the same time, another partnership consisting of Chevron Canada Resources and BP Canada Energy plans to lead off this winter's program in Canada's North that could see up to a dozen wells drilled. The partners are two of seven companies making up the Mackenzie Delta Explorers Group, which has collectively committed to spending C$900 million on exploration licenses. Having already barged equipment and supplies to the drill site, operator Chevron hopes by December 21, 2004, to spud the exploratory Olivier H-1 well, about 60 miles northwest of Inuvik. On December 15, 2004, Alaska received proposals from BP Plc., ConocoPhillips, and ExxonMobil to tap Alaska's enormous natural gas reserves. On January 10, 2005, Apex Resources Group Inc. reports on Devon's energy decision to forge ahead with the Beaufort Sea Exploration and plans to spend $60 Million after identifying nine locations off the arctic coast. On January 26, 2005, Apex Resources Group Inc. reports on Pioneer Natural Resources expanding its' portfolio of undeveloped lands on the Alaskan North Slope to more than 1.6 million gross acres. Pioneer to spend $50 million in 2005, to develop core division in Alaska targeting Apex investment area. John Hickey, Director, stated, "It is apparent that over the past three months activity in the area of Apex Resources' investment has moved forward at a super-sonic pace. The Financial Post stated, 'Canadian interests have little time to get their act together'. We believe the same holds true for the investment community - the time is now! It is evident that Apex Resources has the realistic potential to exceed all expectations provided to this day. The opportunity Apex is providing to the investment community is one that, we contend, will not be seen again in our lifetime." "Additionally, the safety and security to our existing shareholders and potential investors is extraordinary. The natural gas is there - government, institutional and business all attest to this. Apex' early foresight to invest in the Beaufort Sea area wasn't a game of chance, it was a matter strategic planning, patience, vision and timing, and Apex time is near," Hickey concluded.
By the Board of Directors, Apex Reports Update on PB Energy Partners Drilling to Commence Soon and Alaska Pushing for Drilling in Arctic
Refuge -Independent Petroleum Association of America Believes Congress Will Pass Comprehensive Energy Package-
SALT LAKE CITY--(BUSINESS WIRE)--Feb. 17, 2005-- Apex Resources Group Inc. (OTC BB: APXR - News), today reported on news that the Alaskan government is again pushing for oil drilling in the politically and environmentally sensitive Arctic National Wildlife Refuge
(ANWR). (This is only a partial clip. Go
to yahoo or any financial news site to read this now)
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Disc.laimer, All material herein was prepared by DML based upon information believed to be reliable. The information contained herein is not guaranteed by DML to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this opinion have not always approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. DML is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed or mentioned herein. Like many companies on the BB and pinksheets this company has no revenue or nominal revenue in its most recent quarter. Accumulated deficit since inception. Nominal cash and no revenue or nominal revenue in most recent quarter. An affiliate of DML has been compensated by a third party shareholder (GMCR) or with cash from the company on behalf of one or more of the companies mentioned in this opinion. We have been compensated three hundred thousand free trading shares of apxr. DML intends to sell its shares. We have sold approximately zero shares to date. We may sell our shares for less than the target price given in this opinion. In addition to any compensation mentioned above, additional compensation can be equal to ten percent of any newly issued or registered securities of the profiled companies. Our affiliates, officers, directors and employees may also have bought or may buy the shares discussed in this opinion and may profit in the event those shares rise in value. We will not advise as to when we decide to sell and do not and will not offer any opinion as to when others should sell; each investor must make that decision based on his or her judgment of the market
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