Turning Pennies into dollars: (OTC: MGRN), (OTCBB: USSU), (OTC: EXPT)
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MONOGRAM ENERGY INCORPORATED (OTC: MGRN)
Monogram Energy, Inc. is an independent energy company engaged in the acquisition, development, and exploitation of oil and gas properties. The company specializes in acquiring oil & gas leases with proven reserves that have the potential for increased production.
MGRN News:
June 3 - Monogram Energy, Inc. Announces 50% Production Capability Increase in Corsicana, Texas
Monogram Energy, Inc. (OTC: MGRN), an independent energy company engaged in the acquisition, development, and exploitation of oil and gas properties, announced that the Company's six wells on the T.W. Martin lease are currently producing, and that the three additional wells in the workover process should be completed by the end of June.
The 9 total wells are then expected to produce 2 barrels per day each for a projected yield of 540 barrels per month. This workover progress represents a 50% increase from the May 13th release projections of 270 barrels per month based on production estimates on the initial 6 wells.
The T.W. Martin lease comprises 70 acres with 12 wells and is located in Navarro County, Texas, which produces around 600,000 barrels annually.
"We're very pleased with our progress so far. With a little luck we might even complete our current workovers ahead of schedule," stated Mr. Billy King, Chief Executive Officer of Monogram Energy, Inc.
Mr. King became interested in the production of oil & gas during his ten years of employment as an attorney for the Halliburton Company, and with his representation of independent oil companies during his years as a private practitioner. Monogram Energy's goal is to maintain a high risk/reward profile, thereby enabling them to return the most value to its shareholders.
For more info: http://ussu.realpennies.com
USA SUPERIOR ENERGY (OTCBB: USSU)
USA Superior Energy Holdings, Inc., a development stage company, operates in the energy industry in the United States. The company, through its wholly owned subsidiary, USA Superior Energy, Inc., engages in the development, ownership, and operation of prospects and energy projects in East and Southeast Texas. It also focuses on using nitrogen technology to recharge and produce oil and gas from under-pressured partially depleted reservoirs. The company was founded in 2005 and is based in Houston, Texas.
USSU News:
June 3 - USA Superior Reports First Quarter 2008 Results
USA Superior Energy Holdings, Inc. (OTCBB: USSU) (the "Company"), a Houston-based energy company focused on acquiring, owning, operating and applying enhanced oil recovery ("EOR") techniques to existing shallow fields of oil and gas that have been idle or marginally producing, is reporting its operating results for the quarter ended March 31, 2008 and its filing of an amended Quarterly Report on Form 10-Q/A for the three months ended March 31, 2008.
For the quarter ended March 31, 2008, the Company's net loss decreased to $516,740, compared to the same quarter 2007 net loss of $3,379,474. The major components of the first quarter 2008 loss were general and administrative expenses of $463,751 including stock based compensation of $207,436. Stock based compensation in the first quarter of 2008 included warrants issued to the Company's financial consultant and shares issued to a key employee. This compares to general and administrative expenses of $3,375,085 including stock based compensation of $3,020,000 in the quarter ended March 31, 2007 related to the reverse merger and compensation of employees and consultants in the Quarter Ended March 31, 2007.
Revenues for the quarter ended March 31, 2008 increased to $115,563 from $15,443 in the same period of 2007. This increase reflects a full quarter of operations of the Bateman Project which was acquired at the comparable quarter's end in 2007. Sales volume for the first quarter 2008 was a net 1,322 barrels, which was a substantial increase over third quarter and fourth quarter volume of 727 barrels and 139 barrels, respectively. This increase represents the successful results of workover and treatment operations in the Bateman Field performed during the first quarter of 2008. The Company anticipates a further sales volume increase for the second quarter of 2008 as sales volume has exceeded a net 1,183 barrels in the month of May 2008. The Company realized an average price of $91.63 per barrel during the quarter ended March 31, 2008.
Mr. Rowland Carey, Chairman and CEO, stated: "For the remainder of 2008 we remain focused on the continuing workover and acceleration of revenue from our Bateman Project and preparations for EOR operations to begin in the second half of 2008. We are also seeking to strengthen our management team, increase our capital base to fund our EOR operations and growth to continue our business strategy of acquiring and joint venturing shallow fields of oil and gas that have been idle or marginally producing."
The following chart summarizes the Company's sales of oil and gas since its acquisition of the Bateman project on March 20, 2007:
The Company's ability to maintain and increase sales from recent levels is dependent on its ability to raise funds to correct its working capital deficit and for the investment of additional funds into the extensive maintenance, workover and planned enhancement operations to accelerate the realization of production volumes.
On May 30, 2008, and substantially ahead of the OTCBB grace period deadline of June 20, 2008, the Company also filed an amended Quarterly Report on Form 10-Q for the three months ended March 31, 2008, which included the required management certifications and independent registered public accounting firm's review of its consolidated financial statements included in its Quarterly Report on Form 10-Q for the three months ended March 31, 2008. In addition, subsequent to the filing of our Form 10-Q, the Company concluded that it was required to restate previously issued financial statements for the quarters ended March 31, 2008 and 2007. Management determined that a restatement was necessary in respect of the following: revision of stock based compensation for 2007, revision of the valuation of stock and warrants to be issued under a financial services contract in 2008, correction of the timing of recording certain transactions in 2007. As a result of these revisions to our financial statements, our previously issued financial statements for the quarters ended March 31, 2008 and 2007 (which were included in our Quarterly Reports on Form 10-Q) should no longer be relied upon. Restated financials for the quarters ended March 31, 2008 and 2007 are included in the filing on Form 10-Q/A filed on May 30, 2008. These changes do not effect the financial statements contained in the Annual Report on Form 10-K for the year ended December 31, 2007, which may continue to be relied upon. For more information, visit
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EXPERT GROUP INCORPORATED (OTC: EXPT)
Expert Group, Inc. is a diversified financial services company which markets a variety of financial products and services through Expert Financing, Expert Group Title Services, Expert Credit Fix USA. Expert is licensed by the department of Financial Regulations and a member of FAMB, and since inception, Expert has originated over $50 million in origination. The Company offers a stock option plan to its loan officers, brokers, title agents, and processors.
EXPT News:
June 3 - Expert Group Inc. Offers Expansion and Corporate Update
Expert Group Inc. (OTC: EXPT) (www.ExpertFinancing.net) begins June 2008 operations with the completion of FHA Financial Audits. The Financials were reviewed and audited by the accounting firm of Dave V John, CPA. Expert has been working diligently to obtain a PS status on Pink Sheets. It has been working closely with the Law Firm of John Frohling and all Disclosure Statements and Financial Reports have been filed on Pinksheets.com as well as the Attorney Letter required by Pinksheets.com
The company originated 4.9 million in Loans for the month of May 2008, and has expanded its Loan Officer base to 39 mortgage brokers and loan officers.
According to the company's Expansion Plan, once 50 loan officers in the North Miami Beach Office is attained, Expert will open its second location three miles away in Bal Harbor, FL. The company expects to reach 100 loan originators by the close of 2008.
In other company updates, Expert Group will be adding Title Insurance and Escrow by the 4th Quarter of 2008 through Expert Group Title Services Inc.
The company continues to market its credit restoration products through Expert Credit Fix U.S.A, Inc. The company was formed to assist clients in obtaining a better credit rating in order to acquire a loan at low rates and is now available nationally to everyone who needs assistance in repairing their credit score.
Visit www.expertfinancing.net or www.expertcreditfixusa.com for more information.
ABOUT EXPERT FINANCING
Expert financing offers up-to-date loan programs tailored to fit all borrowers' needs. The company specializes in Fannie Mae, Freddie Mac, FHA, conventional and non-conventional loans, jumbo loans, no income verification loans, commercial loans, small business debenture loans, foreign national loans, construction loans for residential and commercial purposes from re-habilitation projects to new construction; the company also offers loans for purchases, refinances, home equity line of credit and line of credit for commercial property. At Expert Financing an Expert Loan Officer can help you in finding the best Loan for your needs. Our group of professional loan experts speak your language, including Spanish, Russian, Portuguese, French, Italian, Hebrew and Creole.
ABOUT EXPERT CREDIT FIX U.S.A.
Expert Credit Fix U.S.A is ahead of the game, assisting borrowers with less then perfect credit to fulfill their dream of home ownership. The company offers different levels of credit restoration service to best fit each borrower needs. The service packages are tailored to service borrower with minor credit issues like excess inquiries to more challenging credit issues like bankruptcies or even foreclosures. Expert Credit Fix U.S.A. will help borrowers to restore their credit to a level where lenders will grant them credit and at a low interest rate.
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