Bayside Petroleum Progress & Highlights
February 15, 2010
Bayside Stepping Up Rework Activity
BYSD has entered a period of accelerated activity, with numerous Oil & Gs field well rehab and rework programs getting underway. Numerous other projects in the Company’s growth pipeline are expected to be announced in the weeks and months ahead.
Programs underway or scheduled to commence shortly, and announced recently include:
9,000 Foot Development Well to Be Drilled on Bayside Petroleum’s Leases in the Muscadine Field, TexasBayside Petroleum Forms a Drilling Consortium to Proceed With Re-Entry of Baxterville Field WellBayside Petroleum Renews Oil & Gas Lease on Its Alta Mesa East Field in Texas… Re-Entry Program ImminentBayside Petroleum Reports Progress on the Acleto Creek Field project, Wilson County, Texas.Bayside Petroleum to Carry Out a Major Rework Program on South Texas PropertiesBYSD Drilling on Loma Novia Field Prospects To Commence in March, 2010
Each of these rework programs is expected to result in significant production increases in the near term.
Bayside will be making news often as these programs are advanced in the near term.
Revenues the Primary Goal
As production volumes increase, production revenues will climb and provide funds to further accelerate the Company’s rework schedule and expand corporate growth.
This Is Not Hi-Risk Wildcat Drilling!
The Risk/Reward parameters of these rework projects is excellent! Since the oil is known to exist beneath the marginally producing wells on these fields, it is a straightforward matter of applying the Company’s expertise and leading edge technology to expand production rates by rehabilitating the wells. Often, such programs boost production flow rates by several hundred percent!
All of BYSD’s planned rework projects pertain to oil & gas fields that contain proven reserves that will be tapped by well rework & rehabilitation procedures, and EOR (Enhanced Oil Recovery) technologies.
The impact of such successes to BYSD’s bottom line can obviously be extraordinary!
Crude Oil Prices Forecast To Rise Sharply
As the global economy recovers, oil consumption will rise to historic levels in light of the extraordinary economic growth in China, India and many other “emerging economies” that have rapidly become major factors in global crude oil demand.
U.S. domestic oil production is becoming increasingly valuable as more and more countries compete for oil from the Middle East and other global production centers. There is even growing speculation that new and robust U.S. incentives to expand domestic production will provide a boost to companies such as Bayside who specialize in oilfield rehabilitation programs to expand production.
BYSD’s Management … Enviable Strengths in an Industry Poised for Exceptional Growth
Bayside’s aggressive growth plans are managed by proven experts in the oilfield rework & rehab industry. The Company’s president and founder, Gordon Johnson, is a third generation Texas oilman who has built a solid team of experts in the business of acquiring, analyzing and rehabilitating oil & gas wells that are located in fields that hold significant reserves that are not being efficiently exploited.
Bayside is well positioned to substantially increase its proven reserves, cash flow and shareholder value over the next 12 to 18 months.
The above is an update to the of reasons to BUY Bayside (below) that was prepared in January, 2010
Reasons to buy shares of Bayside Petroleum:
Participation in low-risk/high-return Oil & Gas development and production in an environment of improving Crude Oil prices.Proven reserves were acquired at fire sale prices because of their current lack of production owing to the need for various well remediation procedures (e.g. re-entry, reworking, re-completion, fracing, water flooding, etc.) when crude oil was priced at $20 bbl.Non-visible assets, i.e. proven oil and gas reserves that are not currently producing at capacity will come to light as reworking of the Company’s projects leads to significant increases in production and revenues.Management acquired the subject projects because it had an intimate knowledge of these oil and gas fields, and the demonstrated ability to “unlock” the oil and gas reserves for immediate exploitation through remediation of these underperforming wells. The Company’s share price levels do not currently reflect the potential
for rapid growth in oil and gas revenues achievable by reworking these fields and expanding production in the months ahead.Consensus global opinion regarding the crude oil price outlook is decidedly bullish, with expectations that prices will continue to recover significantly in the months ahead. As a national imperative, the goal of United States energy self-sufficiency will dictate that conventional oil reserves will be more aggressively exploited in the foreseeable future. As the U.S. (and global) economy continues its post-recession recovery, the Oil & Gas sector is forecast to move sharply higher, supported by rising crude prices, growing global energy demand, and increasing recognition that the Oil & Gas sector was dramatically oversold and now offers extraordinary recovery potential. Bayside is entering a period of increased oilfield rework activity that will lead to frequent news of progress, garnering a higher corporate
“profile” in the junior Oil & Gas sector of the stock market. Focused management intends to supplement its plans for aggressive organic growth through oilfield rehabilitation programs by acquiring additional interests in selected projects. Very strong and focused Management Team and Board of Directors; They are the experts in oil & gas field re-work procedures.
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