Smarts Announces Insider Buying and Provides Corporate Update
Smarts Oil & Gas on Thursday announced that the CEO, Daniel Seifer, purchased a total of 68,600 shares of Value Consulting common stock since being named CEO on Monday. Prices for these shares ranged from $0.51/ share to $0.61/share. Mr. Seifer has announced that he will continue to make purchases in the open market for his own account. The purchases will be reported through Securities and Exchange Commission Form 4 filings.
"This is a tangible way of expressing my belief in Smarts Oil & Gas as an investment, and I intend to continue increasing the size of my personal investment in the company's stock," Seifer said. "We have made tremendous progress in building the company, and we are confident that the markets will reward Smart's stockholders as that progress is reflected in our performance."
Smarts Oil & Gas has also applied for its name, cusip number, and ticker symbol change from the old Value Consulting. The company will announce the new ticker symbol and effective trading date as soon as that information is received.
The Gamm project is moving along as expected. We have approximately 6 wells completed so far and we are moving at the pace we have announced previously. We are also in the process of having a computer programner make all of our progress automated so the public will be able to track the Gamm project from our website. In approximately one month, we expect to have weekly updates on all of our wells and exactly how much production is being put in the oil tanks. The website will also have updates about our drilling program and all new wells that have been completed.
Daniel Seifer, CEO states, "We are moving at a lightening pace and we truly feel the excitement is just beginning. We feel that the drilling project will bring in substantially higher revenues and returns than the field averages and we look forward to starting on that project in early October. Smarts is also looking forward to having a very shareholder friendly website, so the shareholders who follow the company closely will be able to monitor our progress and success on a weekly basis. Furthermore, Smarts in currently in talks with other landowners about acquiring additional leases and we look forward to updating the shareholders on those events as they unfold."
Smarts Oil & Gas was created to pursue an interest in the burgeoning oil and gas market. Smarts Oil and Gas' initial entry into the market was the acquisition of several leases located in northern Louisiana. The leases, collectively the "Gamm Lease," are estimated to have 5,596,125 barrels of primary recoverable oil reserves.
- Smarts Announces Insider Buying and Provides Corporate Update (Aug 17)