Hybrid Energy Announces Portfolio Valuation Increase as Natural Gas Settles at 15-Week High on Hot Weather, Rig Decline
June 08 2010 - 9:44AM
Marketwired
Hybrid Energy Holdings, Inc. (PINKSHEETS: HYBE) revenue projections
and asset valuations continue to increase as Natural gas futures
rose to the highest price in more than 15 weeks as forecasts showed
hotter-than-normal weather across much of the U.S. next week,
boosting demand for the power-plant fuel.
High temperatures will stretch from the Southwest to New England
June 12 through June 21, according to MDA Federal Inc.'s EarthSat
Energy Weather. The number of U.S. oil and gas rigs operating in
the Gulf of Mexico dropped by half last week to a 16-year low,
according to Baker Hughes Inc.
"Hot weather will boost cooling demand," said Chris Jarvis,
president of Caprock Risk Management LLC in Hampton Falls, New
Hampshire. "The government started to curtail offshore drilling and
natural gas can definitely benefit from that."
This positive news for the Company's Gas & Oil holdings, is
in addition to recent launch of its Solar Energy Acquisition and
Development Project; the first official project of the Company's
diversification strategy and the first planned acquisition of
$18,000,000 of KS-IP Holdings' (KS-IPH) Solar Energy Technologies
portfolio. The KS-IPH Letter of Intent will be completed as an
equity-base transaction without issuance of debt or use of cash
reserves.
"The Solar Energy industry will return to high growth in 2010
and also over the next 5 years. Even in the slowest growth
scenario, the global market will be 2.5 times its current size by
2014. Under the Production Led scenario, the fastest growing
forecast, annual industry revenues approach $100 billion by 2014,"
according to NPD Group which publishes The Leading Annual World
Solar PV Industry Report.
The company is assessing the acquisition of several new assets,
operations and technologies, both in the Gas & Oil and New
Energy Sectors; and encourages further gas production properties,
technology submittals and developmental joint ventures through the
Merger & Acquisition portal at www.HybridEnergyHoldings.com
The Company continues to grow its Gas & Oil production
holdings and most recently announced its planned acquisition of new
proven reserves of Natural Gas. The estimated value of this
acquisition is $30,000,000. Full details and disclosures will be
made upon completion of the transaction. The Company recently
announced 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 consistently 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. Acquisitions currently under consideration and
when completed are expected to bring the company's Gas & Oil
production portfolio value above $200,000,000 in proven energy
reserves.
The Company's New Energy Initiative calls for the aggressive
investment in, acquisition of and development of nascent 'New
Energy' technologies Intellectual Property assets and operations in
the Clean Energy, Energy Smart Technologies and Carbon Capture
& Storage sectors of the Energy Sector.
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 filings contain various RISK FACTORS
(and are incorporated on the Company's website "Investors" section
by reference) and should be read before any investment
decision.
Contact: Investor Relations Tel: +1 (775) 636-7602 Fax: +1 (775)
996-7330 info@hybridenergyholdings.com
www.HybridEnergyHoldings.com
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