'GTXE' - Gulftex Ready to Assist in Meeting US Oil Demands
Stocks
bounce-stocknight-90845T at lyris.stocknight.com
Fri Nov 9 18:37:04 PST 2001
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Welcome to Stockupticks.com Newsletter Issue #14 - November 09, 2001
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e-Blast
[Image] *** Investment Alert Investment [Image]
Alert ***
StockUpTicks endeavors to bring you information about
under-followed companies that may be of particular
interest to investors in "discovery" emerging growth
stocks. This Investment Alert highlights Gulftex Energy
Corporation (OTC BB: GTXE).
BUY AMERICAN ?
Gulftex Is Positioned In The Market RIGHT NOW
To Meet The Demands Of U.S. Energy Independence
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In the light of the U.S. reliance on foreign oil in
this troubled world,
domestic oil refineries are constantly strengthening
their reserves
in accord with the energy policy of President Bush
As one analyst said, "No more being held as a hostage
for oil."
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Gulftex Energy Corporation develops and manages oil and
gas fields in New Mexico, Texas,
the U.S. Gulf Coast and the Gulf of Mexico
President Bush on being less dependent on foreign oil
click here
Department of Energy click here
Story on oil dependence study by International Energy
Agency click here
[Image] *** Breaking News *** [Image]
The Following News Was Released 3 hours
AFTER THE MARKETS CLOSED TODAY.
This means, for once, you won't be the last to know !
Friday November 9, 7:33 pm Eastern Time
SOURCE: Gulftex Energy Corporation
Global Oil Supply Uncertainty Raises Interest in
American Oil Producers; Gulftex Oil Ready to Assist in
Meeting Demand
HOUSTON, Nov. 9 /PRNewswire/ -- Tensions in the oil
rich Middle East have renewed interest in American oil
reserves and domestic producers such as Gulftex Energy
Corporation (OTC Bulletin Board: GTXE - news).
In an ABC News report October 22, 2001, the network
quoted Merrill Lynch analyst Steven Pfiefer as stating,
``It is quite feasible that we could see prices rise if
conditions overseas escalate in some form,'' adding
that Pfeifer and several other analysts are predicting
higher oil prices similar to what the U.S. experienced
during the 1970s when restrained production from OPEC
and military and political volatility in the Middle
East led to skyrocketing oil prices and fuel costs.
Heightening fears of a diminished oil supply are U.S.
Government suggestions that the ``War on Terrorism''
could extend to other nations beyond Afghanistan, some
of which may be OPEC nations or allies of OPEC
countries. The effect of such action could ``abruptly
change'' the output from OPEC according to the ABC
report. OPEC meets again in Vienna on November 14,
2001.
Moreover, ABC states that U.S. ally Saudi Arabia
produces more than double the oil production of the
rest of the world combined and as a potential target of
exiled Saudi Osama Bin Laden, a ``nightmare scenario''
would be a successful attack on that oil supply or its
distributing ports.
Amid these fears, interest has risen in domestic oil
suppliers such as Gulftex Energy Corporation, a Houston
based integrated petroleum company involved in
exploration and production, transportation, refining,
and retail marketing. The company develops and manages
oil and gas fields, focusing on the Permian Basin in
New Mexico and Texas, onshore United States Gulf Coast,
and the Gulf of Mexico, offshore in Indonesia, Nigeria
and Qatar. The Company is also involved in pipeline
transportation, oil & refined products trading, and
shipping.
The ABC report also states that an alternative to
Middle Eastern oil dependence is to develop existing
oil resources within the United States. The U.S. Energy
Department is expected to unveil a report soon
outlining the benefits of developing and expanding
domestic oil reserves, including bumping up the
strategic reserve, again, according to the report.
Earlier this year amid threats of rolling blackouts,
President Bush and U.S. Dept. of Energy's Spencer
Abraham repeatedly called for increased domestic
drilling.
``We're looking forward to an increase in incentives
for domestic oil exploration and production,'' said
Marc Duchesne, president of Gulftex Energy Corporation.
``We will be making some dramatic announcements in the
very near future regarding the acquisition of large oil
and gas properties in the United States. Stay tuned.''
Gulftex Energy Corporation is an integrated petroleum
company involved in exploration and production,
transportation, refining, and retail marketing. The
Company develops and manages oil and gas fields,
focusing on New Mexico, Texas, Louisiana, Kentucky plus
onshore United States Gulf Coast and the Gulf of
Mexico, including offshore. The Company is also
involved in pipeline transportation, oil & refined
products trading & shipping.
IMPORTANT NOTICE: Certain matters discussed within this
press release are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act
of 1995. Although Gulftex believes the expectations
reflected in such forward-looking statements are based
on reasonable assumptions, it can give no assurance
that its expectations will be attained. Factors that
could cause actual results to differ materially from
expectations include financial performance, oil and gas
prices, drilling program results, drilling results,
regulatory changes, changes in local or national
economic conditions and other risks detailed from time
to time in the Company's reports filed with the SEC,
including quarterly reports on Form 10-Q, reports on
Form 8-K and annual reports on Form 10-K.
www.gulftexenergy.com
SOURCE: Gulftex Energy Corporation
VITAL STATISTICS
Exchange: OTC
BB: (GTXE)
52 Week Low - High: $.79 - $4.25
Volume (Avg. Daily) 10,000
Recent Close $0.79
Float
735,000
Shares Outstanding:
27,459,000
Market Cap:
$21,692,610
Corporate Web site click here
Click here for GTXE quotes & news
[Image]2001 (4 mos) Income Statement Data ( [Image]
,000)
Operating revenues $9,120
Operating income $2,454
Net income $677
Total current assets $14,179
Property and equipment, net $25,261
Total assets $48,368
Total liabilities $26,614
Shareholders' equity $21,755
Operating income return on average PP&E 10.0%
[Image]Company Overview [Image]
Gulftex Energy Corporation is an integrated petroleum
company involved in exploration and production,
transportation, refining, and retail marketing. The
Company develops and manages oil and gas fields,
focusing on the Permian Basin in New Mexico and
Texas, onshore United States Gulf Coast, and the Gulf
of Mexico. The Company is also involved in pipeline
transportation, oil & refined products trading,
shipping and futures.
[Image]In Business, It's Position, Position, [Image]
Position
Gulftex Energy Corporation is optimally positioned in
the global energy markets. Our customers, partners
and shareholders benefit from a full range of
products and services based on world-class research
and investment expertise. Our size, and the breath of
skills we can mobilize through our divisions, allows
us to optimize commercial activities with the truly
individual solutions they demand. Each project has
specific needs and to address them we have created
dedicated teams. The group allows us to uniquely
leverage both financial and technical know-how to the
benefit of our shareholders, employees, partners and
communities alike, combined with our unique cost
structure allows us to develop properties faster and
far cheaper than any competitor.
[Image]Company Mission [Image]
Initially, to position ourselves to be accepted and
listed onto the NYSE within 12 months. This coincides
with our vision is to be "highly regarded and
respected from our peers," which means: Employees are
proud of their success as a team; customers,
suppliers and governments prefer us, competitors
respect us, communities welcome us and investors are
eager to invest in us. Our steadfast pursuit of
winning is embodied in our primary objective -- to
exceed the performance of our strongest competitors
by achieving better stockholder returns for the
period 2001 through 2006. To achieve this goal, we
will grow earnings faster then our competitor's while
maintaining a competitive return on capital
employed.We are proud to be a Texas Energy
Corporation providing energy products vital to the
growth of the world's economies. Our mission is to
create superior value to our stockholders, our
customers and our employees.
[Image]Contact [Image]
Headquarters:
Gulftex Energy Corporation
Four Oaks Place 1330 Post Oak Blvd.
Suite 1600
Houston, TX 77056
Phone: 1.713.513.7125
Investor Relations:
Paul Lemmon
email: plemmon at gulftexenergy.com
Office: 1.506 455 7972
-----------------------------------------------------
Safe Harbor Statement: Statements contained in this
document, including those pertaining to estimates and
related plans other than statements of historical
fact, are forward-looking statements subject to a
number of uncertainties that could cause actual
results to differ materially from statements made.
Disclaimer: StockUpTicks.com is a property of Market
Pathways Financial Relations Incorporated (MP). The
information, opinions and analysis contained herein
are based on sources believed to be reliable but no
representation, expressed or implied, is made as to
its accuracy, completeness or correctness. This
report is for information purposes only and should
not be used as the basis for any investment decision.
MP is being paid 40,000 shares of GTXE by Gulftex
Energy Inc. for distribution of this report and
ongoing advertising services. The compensation
received by MP for producing this newsletter
constitutes a conflict of interest as to MPs ability
to remain objective in its communication regarding
the subject company. Write or call MP for detailed
disclosure as required by Rule 17b of the Securities
Act of 1933/1934. MP is not an investment advisor
and this report is not investment advice. This
information is neither a solicitation to buy nor an
offer to sell securities. Information contained
herein contains forward-looking statements and is
subject to significant risks and uncertainties, which
will affect the results. The opinions contained
herein reflect our current judgment and are subject
to change without notice. MP and/or its affiliates,
associates and employees from time to time may have
either a long or short position in securities
mentioned. Information contained herein may not be
reproduced in whole or in part without the express
written consent of Market Pathways Financial
Relations Incorporated.
Safe Harbor Statement: This profile is neither an
offer or solicitation to buy or sell any securities
mentioned. While the publisher believes all sources
of information to be factual and reliable, in no way
does it represent or guarantee the accuracy thereof,
nor the statements made herein and has no independent
verification of the facts, assumptions and estimates
contained in this newsletter. "Safe Harbor''
Statement under the Private Securities Litigation
Reform Act of 1995: Certain statements contained
are "forward- looking statements'' within the
meaning of the Private Securities Litigation Reform
Act of 1995, including without limitation, the
Company's industry position, financial condition and
structure. Such forward-looking statements are
subject to risks, uncertainties and other factors
that could cause actual results to differ materially
from future results expressed or implied by such
forward-looking statements. Investors are cautioned
that any forward-looking statements are not
guarantees of future performance and involve risks
and uncertainties and that actual results may differ
materially from those contemplated by such
forward-looking statements. Such risks include,
without limitation, risks associated with the Company
not being able to successfully implement its new
strategies, the risk that new acquisitions, if any,
will not be successfully integrated into the Company,
the seasonality of the Company's sales, the Company's
competition, the Company's dependence on supplier
relationships and risks related to the Company's
borrowings.
----------------------------------------
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