Hybrid Energy Portfolio Holdings Valuation Increases as US Manufacturers Increase Production and Natural Gas Hits Three Week Hig
April 29 2010 - 10:16AM
Marketwired
Hybrid Energy Holdings, Inc. (PINKSHEETS: HYBE) asset valuation
continues to increase as Bloomberg Reports that natural gas prices
hit a three week high as the rebound in the US economy spurs
increase demand.
Gas advanced as Dow Chemical Co., the largest U.S. chemical
maker, reported first-quarter profit that topped analyst estimates
and said its plants ran at 83 percent of capacity, a 7
percentage-point increase from the previous quarter. Industrial gas
purchases account for about 29 percent of consumption.
"The economy is rebounding in the U.S. and that's positive for
gas because it's a domestic commodity," said Chris Jarvis,
president of Caprock Risk Management LLC in Hampton Falls, New
Hampshire.
Gas futures are up 29 percent from a year ago. "Gas futures will
probably average $4.72 per million Btu in 2010 and rise to $5.75
next year on improving demand," Jason Schenker, president of
Prestige Economics LLC, an Austin, Texas-based energy consultant,
said in a telephone interview. A report yesterday that showed U.S.
consumers became more optimistic this month has also helped lift
gas prices, Schenker said.
Other U.S. manufacturers are also increasing output as the
economy recovers from the worst recession since the 1930s. Gas
purchases by factories, chemical plants and steel mills slid 7.7
percent in 2009, according to Energy Department data. General
Motors Co. said this week it plans to upgrade five North American
engine factories, adding or preserving 1,600 jobs. Caterpillar
Inc., the world's largest maker of construction equipment, said on
April 25 that the company is seeing increased orders from mining
and energy customer.
"All of the data point to improving demand from the industrial
side," said Jason Schenker, "We've had positive U.S. economic data
and that has been reinforced by positive corporate profits."
The Company is actively involved in various stages of acquiring
numerous energy production properties and increasing production on
its current holdings. Additionally, the Company is analyzing
various technologies to improve the production efficiencies of its
gas and oil production, while at the same time reduce its carbon
footprint.
Most recently the Company announced its intended acquisition of
proven, untapped reserves of Natural Gas divided between two wells.
The estimated value of this acquisition is approximately
$30,000,000.
The Company recently announced that its production levels had
increased 864% year over year; and expects further increases in
production levels and increases in revenue and shareholder
value.
The Company's portfolio consists of multiple energy production
properties delivering profitably and strong recurring cash-flows.
The company's current holdings include 35 Billion Cubic Feet of
reserves and produces from an estimated $30,000,000 in active
reserves and an additional estimated $145,000,000 in available
reserves.
The company has acquisitions currently under consideration and
when completed are expected to bring the company's portfolio value
above $200,000,000 in proven energy reserves.
About Hybrid Energy Holdings
Hybrid Energy Holdings (HEH) acquires and operates profitable
energy companies with strong historical cash-flow and sustainable
profitability. HEH's acquisitions are focused primarily on
traditional and proven fuel production and the latest in energy
conservation and power co-generation technologies. HEH may acquire
nascent energy technology or rights as portfolio enhancing assets.
HEH's primary business strategy is the acquisition of diverse,
profitable energy related assets that provide synergistic profits
and revenue enhancements across all portfolio companies.
HEH believes its combination of profitability and mitigated-risk
funding structures provides long-term shareholder equity
appreciation.
The company maintains its web site at:
www.HybridEnergyHoldings.com
Safe-Harbor Statement
This release contains statements or projections regarding future
performance that are forward-looking statements as defined in the
Private Securities Litigation Reform Act of 1995. Actual results
may differ materially from those projected as a result of certain
risks and uncertainties. The company's disclosures contain various
RISK FACTORS (and are incorporated herein by reference) and should
be read before any investment decision.
Contact: Hybrid Energy Holdings, Inc. Investor Relations
Tel: +1 (775) 636-7602 +1 (775) 636-7602 Fax: +1 (775) 996-7330
info@hybridenergyholdings.com
Hybrid Energy (CE) (USOTC:HYBE)
Historical Stock Chart
From May 2024 to Jun 2024
Hybrid Energy (CE) (USOTC:HYBE)
Historical Stock Chart
From Jun 2023 to Jun 2024