| Business Summary | | Coastal
Caribbean
Oils
&
Minerals,
Ltd.
has
been
engaged,
through
its
majority-owned
subsidiary,
in
the
exploration
for
oil
and
gas
reserves.
Coastal
Caribbean's
principal
asset
is
its
59.25%
interest
in
its
subsidiary,
Coastal
Petroleum
Company.
Coastal
Petroleum's
principal
assets
are
its
non-producing
oil,
gas
and
mineral
leases
and
royalty
interests
in
Florida.
Coastal
Petroleum
has
made
no
commercial
discoveries
on
the
lands
covered
by
these
leases.
Coastal
Petroleum
is
the
lessee
under
Florida
leases
relating
to
the
exploration
for
and
production
of
oil,
gas
and
minerals
on
approximately
3,700,000
acres
of
submerged
lands
along
the
Gulf
Coast
and
under
certain
inland
lakes
and
rivers.
The
leases
provide
for
a
working
interest
in
approximately
1,250,000
acres
and
a
royalty
interest
in
approximately
2,450,000
acres
covered
by
the
leases.
Coastal
Petroleum
has
made
no
commercial
discoveries
on
its
leaseholds. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Coastal
Caribbean
Oils
and
Minerals
is
engaged,
through
its
majority
owned
subsidiary
(Coastal
Petroleum),
in
the
exploration
for
oil
and
gas
reserves
in
Florida.
For
the
six
months
ended
6/30/01,
revenues
totalled
$61
thousand,
up
from
$19
thousand.
Net
loss
increased
87%
to
$1.3
million.
Revenues
reflect
more
funds
available
for
investment
during
the
2001
period.
Net
loss
reflects
higher
legal
fees
associated
with
the
Coastal
Petroleum
Company's
lawsuit. | More
from
Market Guide: Significant
Developments |
| Officers | | | FY2000 Pay | |
| Benjamin Heath, 86 Pres,
CEO, Director | $56K | James Joyce, 60 CFO,
Assistant Sec., Treasurer | -- | Timothy Largay, 57 VP,
Director | -- | Phillip Ware, 51 VP,
Director and Pres of Coastal Petroleum | 106K | Graham Collis, 41 Sec. | -- | Dollar
amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|