TNEN (True North Energy)
Contact Info
24624 I-45 North #200
Spring, TX 77386
Website: http://www.tnencorp.
Phone: 281-719-1996
Email: contact@tnencorp.com
Share Structure
| Market Value1 | $377,580 | a/o Sep 05, 2014 |
| Shares Outstanding | 235,987,798 | a/o Jul 31, 2014 |
| Float | 41,343,559 | a/o Nov 11, 2013 |
| Authorized Shares | 750,000,000 | a/o Jan 31, 2014 |
| Par Value | No Par Value |
True North Energy Corporation, incorporated in April 2004, is engaged in the acquisition, exploration, development and production of oil and gas properties located throughout the United States. It holds assets in Alaska and Colorado.
True North's strategy is to continue to build its operations under a two phased approach.
Phase I includes establishing an operating technical team; acquiring producing assets to activate the production side of business; and acquiring development and low risk acreage.
Phase II focuses on acquiring production and leasehold in low risk proven fields and implement workover and drilling programs including activating behind pipe, "stranded," reserves; increasing operational efficiency; and drilling infill locations on proven fields.
True North has held assets in Alaska, Texas and Colorado. The company's principal assets consisted of oil and gas leases covering approximately 35,000 acres in the Cook Inlet (25,000 acres) and Beaufort Sea (North Slope) (10,000 acres) areas of Alaska. In September 2007, the Company completed the acquisition of Prime Natural Resources Inc.'s interests in the Devon Fee Gas Unit and the O'Leary Gas Unit No. 1 in Brazoria County, Texas. In June 2007, the Company acquired certain oil and gas interests and properties in northwest Colorado in an area covering more than 17,000 acres. At the time of acquisition, these oil and gas interests had no production. True North held a 100% working interest in the leases comprising part of the acquired assets.
On 2011, the Company sold all property interests with the exception of Overriding Royalty Interest on properties in Alaska, 0.25%, and Colorado, 0.375%.
True North is actively seeking to expand its portfolio of assets.
Overview
TNEN (True North Energy ) this is a low share structure stock that has been under bottom accumulation has yet to close below that master support at .0012, now the stock has closed and confirmed above that 20 and 50 Day Moving avg .0016. With a weaker dollar and Global uncertainty it is expected to see Gas and Oil prices surge in 2014. With the U.S getting away form Middle eastern Oil , Alaska is a big producer and True North has Oil acquisitions in Alaska and Colorado. With only 40 million float any buy pressure could see a significant move higher
Latest News (Taps Into the China Market)
SPRING, Texas, June 10, 2014/PRNewswire/ -- True North Energy Corp. ("True North") (OTC Pink: TNEN)
is pleased to announce
that it plans to segregate its existing overriding royalty interests (ORRIs) in the Cook Inlet and Beaufort Sea areas of Alaska and northwest Colorado, into a new subsidiary and plans to pursue additional acquisitions, funding permitting. In addition, the company has established a wholly-owned Hong Kong subsidiary, Marco Capital Limited. Headquartered in Hong Kong, Marco Capital Limited is planned to explore emerging market, includingChina, opportunities in various industries. CEO Gilbert Steedley states, "This investment diversification is in the best interest of the shareholders as it exposes the company to a wide range of opportunities. We feel very confident these strategic moves and continuation of our business plan, funding permitting, will allow us to increase shareholder value."
Key Points
-Recent news tapping into the Billion dollar China Market
-Closed above that 20 and 50 MA .0016
-Energy Sector Major Market Trend 2014 with Geo-Political Instability Middle east
-Bottom consolidation with Wedge pattern broken
-Major Oil and Gas Acquisitions Alaska and Colorado
-Pivot .0024
-Potential .005-.01
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