BYSD – Up 60% Today
Sep 2nd, 2009 by beststockreport
BYSD – What a Day!
Bayside Petroleum Company, Inc. (BYSD:PK)
BYSD: Opened the day at $0.49 and closed the day at $0.75 up +$0.28 (59.57%) BYSD also set a new 52 week high giving the stock a 108% increase at one point this morning.
It was amazing to see, we expected a 25-30% gain and got this. Congratulations!! to everyone that got in on this today and made some profit. We’re not sure what will happen tomorrow after such a great day today, but we can always hope for another increase like this, I would watch for some more upward action tomorrow, with the little resistance BYSD saw today it might be a repeat.
Have a great day tomorrow and a great trading day too.
Below is a press release that came out about 1 hour after close today.
BYSD Press Release Sept. 1, 2009, 5:05 pm EDT
Bayside Petroleum Company, Inc. to Acquire Oil Producer Nueces Valley Resources, Inc.
* Source: Bayside Petroleum, Inc.
DALLAS, TX–(09/01/09) – BAYSIDE PETROLEUM COMPANY, INC. (Pinksheets:BYSD) is pleased to announce the signing of a Letter of Intent covering the acquisition through a merger with Nueces Valley Resources, Inc., also based in Dallas. The merger of the two companies is expected to be successfully concluded during September 2009 after the execution of a Sales and Plan of Merger Agreement and the approval of the shareholders of both companies.
Mr. Gordon H. Johnson, President and CEO of Bayside Petroleum, comments: “The acquisition of Nueces Valley Resources through a friendly merger represents a milestone in Bayside’s growth plans, as it will immediately expand petroleum reserves and monthly production revenues as well as increase Bayside’s development potential in the near term.”
About Nueces Valley Resources, Inc. (NVR)
NVR owns and manages oil production of approximately 100 barrels per day in South Texas (Dimmit, Frio, Zavala and LaSalle Counties) and in N.E. Kansas (Douglas, Franklin and Miami Counties). NVR is the manager of a number of joint ventures that own interests in these wells. The wells in Texas number 34 and a number of them are candidates for rework and/or re-completion to enhance the daily production rates. The wells in Kansas number approximately 200 and produce oil from shallow depths, ranging from 300′ to 950′. Every project in Kansas is a candidate for waterflooding (secondary recovery), which when installed significantly increases the daily production rates.
A PROFITABLE INDUSTRY NICHE
The reworking of ‘marginal’ oil & gas wells is a niche sector that offers extraordinary growth potential for industry specialists like Bayside. Thousands of mature oil and gas fields across the lower 48 states encompass hundreds of thousands of marginal wells, commonly referred to as ’stripper’ or ‘marginal’ wells, i.e. wells that produce less than 15 barrels per day of crude oil. Few lay persons realize the importance of these wells and their significance to domestic crude oil supplies. Marginal wells produced more than 335 million barrels of oil in the United States in 2006. That’s nearly two thirds as much as the United States imports annually from Saudi Arabia!
BAYSIDE … Poised for Growth Through Oil & Gas Field Expertise
Dallas based Bayside Petroleum Company, Inc. is an aggressively managed energy exploration, development and production company in the process of building oil & gas reserves and production in some of the most prolific hydrocarbon bearing regions of the United States. The Company specializes in the profitable business of reworking ‘marginal’ oil & gas wells. The Company’s management team has a proven record of success in the industry, and intends to foster rapid corporate growth through its ability to identify, acquire interests in, and rework oilfields that offer exceptionally attractive risk/reward parameters for oil production optimization.
In compliance with the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, Bayside Petroleum Company, Inc. notes that statements contained in this announcement that are not historical facts may be forward-looking statements that are subject to a variety of risks and uncertainties. Accordingly, Bayside wishes to caution readers of this announcement that its future actual results may differ materially from those that any forward-looking statements may imply. There is no assurance the above-described events will be completed. There can be no assurance of the ability of the Company to achieve sales goals, obtain contracts or financing, consummate acquisitions or achieve profitability in the future.
Contact:
For further Information, contact:
Bayside Petroleum Company, Inc.
Gordon H. Johnson
Chairman & President
Phone: 972-726-2222
.
**Disclaimer- No one at MypennystockZ.com is a licensed stockbroker or financial adviser. The statements above are only opinions and should be looked at as such. When looking to invest in a companies
stock always do your own research and if you feel the need, consult a broker or financial adviser. Never invest money you cannot afford to lose and never invest money unless you are willing to lose it
all. To read our full disclaimer go here Disclaimer **
Shareholders and investors are strongly cautioned against placing undue reliance on information set forth in these communications in making any investment decisions concerning securities. The matters
set forth in this newsletter release are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking
statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks are detailed from time to time in the company’s periodic reports filed with the
Securities and Exchange Commission including the company’s Annual Report, Quarterly Reports and other periodic filings. These forward-looking statements speak only as of the date hereof. The company
disclaims any intent or obligation to update these forward-looking statements. MypennystockZ.com has been compensated five thousand dollars by a third party to provide investor awareness services
regarding BYSD:PK