| To: John Allen who wrote (12) | 9/6/1998 10:04:00 PM | | From: Ed Ajootian | | | |
John,
I've seen some reverse splits that have worked, at least for awhile. It is hard to take while you're going through it but it will make the numbers look a lot better.
Cash flow per share comes out pretty small when you are dividing you're # by 100,000,000, I don't care _how large the # for cash flow is!
I'm looking for more news to come out on this thing on 9/16, the day of the shareholders' meeting. Should make for an interesting couple of weeks. |
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| To: Greg Zielinski who wrote (9) | 9/22/1998 6:00:00 PM | | From: Ed Ajootian | | | |
Shareholders Support United Heritage Corporation's Efforts
PR Newswire - September 21, 1998 07:16
CLEBURNE, Texas, Sept. 21 /PRNewswire/ -- United Heritage Corporation (Nasdaq: UHCP) announced today that it held its annual shareholders meeting September 16, 1998, at the company's Cleburne, Texas headquarters.
Of the 97,400,512 shares of common stock outstanding, 93,154,673 shares, or 95.64% voted at the meeting. All items on the company's July 29, 1998 proxy statement passed by wide margins. The shareholders re-elected United Heritage Corporation's Board of Directors, which includes Walter G. Mize, chairman and chief executive officer, C. Dean Boyd, Harold L. Gilliam, Joe Martin, and Theresa D. Turner. Other items approved were ratification of the company's 1998 Stock Option Plan, appointment of Weaver and Tidwell, L.L.P. as independent accountants for the company's fiscal year 1999 audit, and authorization for the Board to amend the company's Articles of Incorporation to permit a reverse stock split. All items were approved by at least a 99% margin.
Chairman Mize discussed the authorization for the Board to effect a reverse split of not less than 1 for 2, nor greater than 1 for 10, or to effect no reverse split. This particular issue had raised the most questions among shareholders. In addressing the issue, Mr. Mize quoted from the company's July 30, 1998 press release.
"As I said in our earlier press release, 'this does not mean that a reverse split is imminent or in the company's immediate plan. We are simply asking the shareholders in the proxy to authorize the board to consider a reverse split sometime in the future. The Board has no intention of making a hurried decision, and will only consider a reverse from a position of strength. Our ultimate decision may be to not reverse split the stock," Mize said.
In addition, Mize discussed activities at United Heritage's south Texas oil field, where the company is involved in a pilot project utilizing the Alkaline-Surfactant-Polymer ("A-S-P") flood method of oil recovery developed by Surtek Engineers, Inc., of Golden, CO. The discussion included a video presentation demonstrating the Klaeger Oil Retrieval Unit used in the field, charts from the Strain Consultants report (available on the company's web site) which detailed the layout of the 13-well pilot, and photographs of the pilot building and the mixing, injecting, and retrieval apparatus.
"As we sit here today at the annual shareholders meeting of United Heritage Corporation," Mize added, "the A-S-P pilot flood is going forward in the south Texas oil field. The company's goal is to establish the number of estimated proven undeveloped barrels of oil that it has in this field. The pilot will establish this as well as the estimated cost of recovery per barrel and the estimated time it will take to recover the reserves. Surtek will then give United Heritage a written report indicating these factors."
Based in Cleburne, Texas, United Heritage is an oil and gas exploration company with 10,500 leasehold acres in the Val Verde Basin of south Texas. The original oil-in-place in those leases was first estimated by J.R. Butler and Co., independent oil and gas consultants in Houston, Texas, to be 168 million barrels of crude oil in the upper zone alone, only 300 feet from the surface. Independent engineering studies by Golden, Colorado-based Surtek, Inc. indicate that the A-S-P flood method of recovery can produce an estimated 60% of the oil-in-place, or more than 100 million barrels.
Note: News releases and other information about United Heritage can be accessed at unitedheritagecorp.com or through ctaonline.com on the Internet.
SOURCE United Heritage Corporation
/CONTACT: Walter Mize, President & CEO of United Heritage Corp.,
817-641-3681; or Carl Thompson, CEO, or Mike Trueblood, Account Executive,
both of Carl Thompson Associates, 800-959-9677/
/Web site: unitedheritagecorp.com
/Web site: ctaonline.com |
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| To: Greg Zielinski who wrote (9) | 11/1/1998 8:09:00 PM | | From: Ed Ajootian | | | |
Greg,
Your comment was about 11 months too soon but it looks to be right on the money at this point! This stock is obviously being aggressively accumulated at this point --- up 43% in the last three days.
Here's the news that sparked the runup IMO. The delayed reaction, IMO, was due to the buyers laying back to see what stock would come on the market after it didn't run up on the good news.
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Surtek Issues Encouraging Report on A-S-P Pilot for United Heritage
PR Newswire - October 13, 1998 07:26
CLEBURNE, Texas, Oct. 13 /PRNewswire/ -- United Heritage Corporation (Nasdaq: UHCP) has received the following interim report from Surtek, Inc. regarding the Alkaline-Surfactant-Polymer (A-S-P) pilot program currently underway:
"Initiation of chemical injection into the Glen Rose formation of the
Wardlaw field occurred in August. Alkali, followed by alkali plus
surfactant and finally alkali plus surfactant plus polymer was injected
into the four injection wells for the nine day duration of the initial
testing without difficulty. By mid-September, the producing wells'
pumping equipment was installed and full operation of the pilot was
initiated. Following injection into all four wells of the A-S-P solution,
production from individual wells staged in one by one. By October 2, the
oil-water separators were filled with approximately 110 bbl of oil and oil
began to fill the sale tanks. During the next four days until October 6,
the controllers for the producing well pumps were individually programmed
so that they could pump continuously and about 100 bbl of additional oil
was produced. As of the morning of October 8, an additional 84 bbl of oil
had been produced for a total production of 340-bbl oil.
"We are very encouraged that we are able to inject into the reservoir
and it appears at this early stage to have the pore-to-pore displacement
necessary for the technology to work. The A-S-P solution is up to the
design concentration of 1,500 mg/l polymer and we see no signs of
injectivity problems. The performance implies that we are mobilizing oil
to the producing wells. Though most of the nine pumping wells produce
mostly oil, one well that initially produced more water than oil is now
producing more oil than water. This type of performance suggests the A-S-
P technology is working."
Based in Cleburne, Texas, United Heritage is an oil and gas exploration company with 10,500 leasehold acres in the Val Verde Basin of south Texas. The original oil-in-place in those leases was first estimated by J.R. Butler and Co., independent oil and gas consultants in Houston, Texas, to be 168 million barrels of crude oil in the upper zone alone, only 300 feet from the surface. Independent engineering studies by Golden, Colorado-based Surtek, Inc. indicate that the A-S-P flood method of recovery can produce an estimated 60% of the oil-in-place, or more than 100 million barrels. |
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| To: JOHN SNOW who wrote (7) | 12/13/1998 9:43:00 PM | | From: Ed Ajootian | | | |
United Heritage Corporation Seeks Additional Prospects
CLEBURNE, Texas, Dec. 8 /PRNewswire/ -- United Heritage Corporation (Nasdaq: UHCP - news) announced today that it is actively reviewing existing fields that are on the market where the Alkaline-Surfactant-Polymer recovery method (''A-S-P'') may have an application.
United Heritage Corporation introduced the A-S-P method of recovery into its south Texas oil field and is currently producing a 13-well pilot project. This field has 168,000,000 barrels of oil-in-place. The pilot project will establish the ''proved undeveloped'' reserves for financial disclosure purposes.
The majority of the fields being reviewed by the company are expected to be A-S-P recovery friendly, and may also be suitable for other methods of recovery the company or its management has utilized, including the Klaeger Oil Retrieval System, cyclic air injection, steam flood, water flood, and in situ combustion.
Walter G. Mize, chairman and CEO of United Heritage, said, ''As United Heritage has moved forward utilizing A-S-P technology to recover shallow oil reserves in its south Texas oil field, the company anticipated other opportunities would become available as a result, and this is materializing.''
The opportunity that exists in this arena was also recognized by the area supervisor from the Texas Railroad Commission.
''While discussing the company's operations at the south Texas field, the Railroad Commissions supervisor made reference to the many fields that this method of recovery may make recoverable in Texas alone,'' said Mize. ''In addition, he expressed his pleasure with United Heritage's field, stating that it was the 'best-looking oil field operation he had seen in some time.''
The company is reviewing prospects outside of Texas, also.
The deep gas potential of the south Texas field is currently being researched by J.R. Butler & Company, independent oil and gas consultants of Houston, Texas. Regional geological maps are being prepared, and the availability of existing seismic lines has been determined. J.R. Butler expects to complete the review and assessment of existing data in February 1999. At that time, the decision whether to shoot additional seismic will be made by company management.
Based in Cleburne, Texas, United Heritage is an oil and gas exploration company with 10,500 leasehold acres in the Val Verde Basin of south Texas. The original oil-in-place in those leases was first estimated by J.R. Butler and Co., independent oil and gas consultants in Houston, Texas, to be 168 million barrels of crude oil in the upper zone alone, only 300 feet from the surface. Independent engineering studies by Golden, Colorado-based Surtek, Inc., indicate that the A-S-P flood method of recovery can produce an estimated 60% of the oil-in-place, or more than 100 million barrels. Surtek is considered an industry expert in the successful use of the A-S-P process in fields around the world, including Daqing, the largest oil field in China.
Except for historical financial information contained herein, the matters set forth in this release are forward-looking statements that are dependent on certain risks and uncertainties including but not limited to such factors as market demand, pricing, and changes in worldwide economic conditions.
News and other information on United Heritage Corporation can be accessed at www.unitedheritagecorp.com on the Internet.
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John,
Wondering if you have looked at this one recently. A lot has happened in the last year and the stock finally seems poised to break out over $1. |
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| To: John Allen who wrote (12) | 3/28/1999 9:57:00 PM | | From: Ed Ajootian | | | |
John,
With the stock popping up 20% on Friday on record volume (just under half a million shares) I gotta think that final Surtek report is due to be released. This will allow them to book SEC PV 10 reserves for their year-end.
Now with oil prices coming back they will likely rush through the development in order to catch these high prices while they can.
Are you still in this? I sold about half my position at a small loss but am hanging in there with the rest. |
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| To: Ed Ajootian who wrote (19) | 4/27/1999 2:12:00 PM | | From: John Allen | | | | |
Probably bought a new house...He owns almost all of the shares you know. He has to let them out slowly. He took shares as salary for years. |
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| From: Oldbroker007 | 6/7/2025 7:28:07 AM | | | | | | | I used to be a stockbroker with Chelsea Street Securities in Irving Texas. We were a market maker for UHCP. They were a beef company they sold longhorn beef, which is a low fat breed, and Nolan Ryan was involved with the company because he raised the longhorns. Just an fyi |
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