| Business Summary | | PANACO,
Inc.
is
an
independent
oil
and
natural
gas
exploration
and
production
company
with
operations
focused
in
the
Gulf
of
Mexico
and
onshore
in
the
Gulf
Coast
region.
The
Company
sells
oil
and
natural
gas,
produced
on
properties
it
leases,
to
third
party
purchasers.
The
Company
obtains
reserves
of
crude
oil
and
natural
gas
by
either
buying
them
from
others
or
drilling
developmental
and
exploratory
wells
on
its
properties.
At
December
31,
2000
the
Company's
proved
reserves
totaled
131
Bcfe
(billion
cubic
feet
equivalent).
Approximately
67%
of
these
reserves
are
classified
as
proved
developed
reserves
and
approximately
63%
are
natural
gas.
The
Company's
primary
producing
properties
are
located
along
the
Gulf
Coast
in
Texas
and
Louisiana
and
offshore
in
the
federal
and
state
waters
of
the
Gulf
of
Mexico. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | PANACO,
Inc.
is
in
the
oil
and
gas
business,
acquiring,
drilling
and
operating
offshore
and
onshore
properties
in
the
Gulf
of
Mexico.
For
the
six
months
ended
6/30/01,
revenues
increased
33%
to
$50.3
million.
Net
income
fell
97%
to
$874
thousand.
Revenues
reflect
an
increase
in
the
average
selling
prices
and
production
of
oil
and
natural
gas.
Net
income
were
offset
by
the
absence
of
income
tax
benefits
and
charges
for
impairment
of
oil
and
gas
properties. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Robert Wonish, 47 Pres,
COO, Director | $336K | Todd Bart, 36 CFO,
Sec., Treasurer | 179K | 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
|
|