ReoStar Energy Corp (PK:REOS)
Business Focus: Oil & Gas Exploration and Production
| Sector: Energy | Industry: Oil & Gas Exploration and Production |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 87 N. Raymond Ave, Suite 200 PASADENA CA 91103 |
| Tel: | N/A |
| Website: | https://reostarenergycorp.com |
| IR: | See website |
| Key People | ||
| Michael Lajtay Chief Executive Officer | Scott R. Allen Chief Financial Officer | Larry Myers Chief Operating Officer |
| Vern O.C. Wilson Vice President - Operations | Brett Bennett Vice President - Administration | Alex Johnson Treasurer, Secretary, Director |
| Business Overview |
| ReoStar Energy Corporation is engaged in the exploration, development and acquisition of oil and gas properties, primarily located in the state of Texas. As of March 31, 2010, the Company owned approximately 9,000 acres of leasehold, which included 5,000 acres of exploratory and developmental prospects, as well as 4,000 acres of oil recovery prospects. The Company conducts drilling, production and field operations in the Barnett Shale of North Central Texas and the Corsicana field of East Central Texas. During the fiscal year ended March 31, 2010 (fiscal 2010), the Company divested of its East Texas assets. |
| Financial Overview |
| For the nine months ended 31 December 2010, ReoStar Energy Corp revenues decreased 4% to $2.6M. Net loss increased 4% to $2.5M. Revenues reflect Sale of Leases decrease from $311K to $0K, Other Income decrease of 63% to $93K. Higher net loss reflects Interest increase from $383K to $840K (expense), Interest, net of capitalized interest decrease of 45% to $209K (income), Dry Holes & Abandonments increase of 91% to $87K (expense). |
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