| Business Summary | | GulfWest
Energy,
Inc.
is
primarily
engaged
in
the
acquisition,
development,
exploitation
and
production
of
crude
oil
and
natural
gas.
As
of
December
31,
2000,
the
Company's
part
of
the
estimated
proved
reserves
these
properties
contained
was
approximately
4.6
million
barrels
(MBbl)
of
oil
and
24.8
billion
cubic
feet
(Bcf)
of
natural
gas
with
a
Present
Value
discounted
10%
(PV-10)
of
$124.1
million.
Substantially
all
of
the
Company's
properties
are
located
on
land
in
Texas,
Colorado
and
Oklahoma.
The
Company's
gross
revenues
are
derived
from
oil
and
gas
sales
that
are
proceeds
from
the
sale
of
crude
oil
and
natural
gas
production
to
midstream
purchasers,
operating
overhead
and
other
income
that
consists
of
earnings
from
operating
crude
oil
and
natural
gas
properties
for
other
working
interest
owners
(along
with
marketing
and
transporting
natural
gas)
and
well-servicing
revenues
that
are
earnings
from
the
operation
of
well-servicing
equipment
under
contract
to
other
operators. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | GulfWest
Energy,
Inc.
is
engaged
in
the
acquisition,
development,
exploitation,
exploration
and
production
of
oil
and
natural
gas.
For
the
three
months
ended
3/31/01,
total
revenues
rose
89%
to
$3.1
million.
Net
income
totalled
$247
thousand
vs.
a
loss
of
$70
thousand.
Revenues
reflect
increased
oil
and
gas
production,
higher
oil
and
gas
prices,
and
acquisitions
of
additional
properties.
Earnings
also
reflect
a
decrease
in
cost
of
well
servicing
operations. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Marshall Smith, III, 53 Chairman | $125K | Thomas Kaetzer, 42 Pres,
CEO, Director | 125K | Jim Bigham, 65 Exec.
VP, Sec. | -- | Richard Creel, 52 VP
of Fin. and Controller | -- | William Winston, 34 VP | -- | 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
|
|