Biloxi Marsh Lands Corporation Announces Un-Audited Results for the Second Quarter and First Six Months of 2006 and Provides Update.METAIRIE Met·ai·rie A community of southeast Louisiana, a suburb of New Orleans. Population: 145,800. , La. -- Biloxi Biloxi (bĭlŭk`sē), city (1990 pop. 46,319), Harrison co., SE Miss., on a peninsula between Biloxi Bay and Mississippi Sound, on the Gulf of Mexico; inc. as a town 1838, as a city 1896. Marsh Lands Corporation (PINK SHEETS:BLMC BLMC British Leyland Motor Corporation BLMC Buried Logic Macrocell BLMC van Buren Logistic Management Consultancy ) today announced its un-audited results for the periods ending June June: see month. 30, 2006. Total revenue for the second quarter of 2006 was $2,355,428 compared to total revenue of $6,607,174 for the same period of 2005. For the first six months of 2006 revenue was $10,707,248 compared to $14,001,051 for the same period of 2005. It should be noted that the first 6 month of 2006 included 8 monthly natural gas production payments as compared to the normal 6 monthly payments (5 payments received during Q1-2006; 3 payments received during Q2-2006). By comparison the first six months of 2005 included 6 monthly production payments. This increased number of payments was due to a timing difference and was a one time event due to the Company taking its gas "in kind" as of December December: see month. of 2005. During the second quarter of 2006 revenues from mineral royalties decreased to $2,185,235 from $5,230,204 for the same period of 2005. Revenue derived from Lease bonus and delayed rentals were $11,354 for the second quarter of 2006 compared to $1,265,223 for the second quarter of 2005. During the second quarter of 2005 bonus and delayed rentals revenue was positively impacted by a large delayed rental payment in the amount of $900,869. Due to the expiration EXPIRATION. Cessation; end. As, the expiration of, a lease, of a contract, or statute. 2. In general, the expiration of a contract puts an end to all the engagements of the parties, except to those which arise from the non- fulfillment of obligations created of the lease agreement between the Company and its major Lessee One who rents real property or Personal Property from another. A lessee of land is a tenant. Cross-references Landlord and Tenant. lessee n. the person renting property under a written lease from the owner (lessor). no delayed rental payments were due during the first half of 2006. We did not realize any revenue from the sale of securities during the first half of 2006. During the first half of 2005 we realized $516,398 in revenue from the sale on securities. Meanwhile, operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. for the second quarter of 2006 were $487,971 compared to operating expenses of $274,198 for the same period of 2005. Net earnings were $1,323,723 or $ .48 per share for the second quarter of 2006 compared to $4,034,562 or $1.46 per share for the same period of 2005, and for the first half of 2006 net earnings were $6,670,460 or $2.42 per share compared to $8,521,973 or $3.09 per share for the same period of 2005. During the first half of 2006 the Company received 3D seismic data related to final phase of the 3D seismic survey completed over the past five years. The 3D seismic data covers the majority of Company property including one mile in every direction beyond our boundaries. This means that we not only have a significant 3D seismic inventory covering our property, but also covering state water-bottoms and property owned by third parties. Included in our 3D data inventory are post-stacked processed data and the non-processed field tapes. As previously reported, we have retained services of a geophysicist ge·o·phys·ics n. (used with a sing. verb) The physics of the earth and its environment, including the physics of fields such as meteorology, oceanography, and seismology. and a geologist to review the data to determine if we can identify any additional prospective acreage. Due to the type of processing of Phases I and IV, we are re-processing these two phases to complete an accurate evaluation. Ongoing costs of retaining the geologist and geophysicists This is a list of geophysicists, people who were trained in or practice geophysics:
The Company has developed The Biloxi Marsh Stabilization Stabilization The action undertakes a country when it buys and sells its own currency to protect its exchange value. Actions registered competitive traders undertake by on the NYSE to meet the exchange requirement that 75% of their traded be stabilizing, meaning that sell orders and Restoration Plan (The Plan). The Plan was conceptualized as a broad brush plan several years ago to possibly influence funding in conjunction with the Louisiana Louisiana (ləwē'zēăn`ə, l  ē'–), state in the S central United States. It is bounded by Mississippi, with the Mississippi R. Coastal Area Study (LCA LCA Life Cycle AssessmentLCA Saint Lucia (ISO Country code) LCA Life Cycle Analysis LCA Linux.conf.au (Australian Linux conference) LCA Labor Condition Application LCA Light Combat Aircraft ). Due to Hurricane Katrina  Editing of this page by unregistered or newly registered users is currently disabled due to vandalism. increasing the potential for funding, The Plan has
been expanded and made more specific to attempt to influence any Federal
spending for rebuilding and maintaining the coast line southeast of the
Greater New Orleans Metropolitan Area New Orleans–Metairie–Kenner is a metropolitan area designated by the US Census encompassing seven parishes in the state of Louisiana, centering on the city of New Orleans. as a means of natural defense from
hurricane storm surges storm surge: see under storm. . In addition to increasing the specificity of The
Plan, we expanded the team of experts involved in the development of The
Plan. We have been proactively promoting The Plan with local, State and
Federal officials. In fact, the St. Bernard St. Bernarda very large (110-200 lb) dog with massive, broad head, medium-sized ears lying close to the head, and a long tail. There are two varieties, the most familiar (rough) has a long, thick coat, while the smooth variety has a shorter coat, lying close to the body. Parish Council adopted The Plan as part of its plan. After several meetings with the Louisiana Department of Natural Resources Many sub-national governments have a Department of Natural Resources or similarly-named organization:
As of June 30, 2006 the combined gross daily production from 13 wells including those operated by The Meridian Meridian (mərĭd`ēən), city (1990 pop. 41,036), seat of Lauderdale co., E Miss., near the Ala. line; settled 1831, inc. 1860. Resource & Exploration, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and Manti Manti may refer to:
"We view our 80,000 acres not under mineral lease combined with our 3D seismic inventory as a major asset. While there is no guarantee that we will be successful, we are actively attempting to identify prospective acreage within the boundaries of the 3D data in our possession. We are hopeful that this will, over time, jump start drilling activity and lead to an increase in proved reserves proved reserves The quantity of minerals expected to be recoverable under current economic and operating conditions. The amount of proved reserves is important in valuing the stock of a company with significant holdings in natural resources. and earnings. Meanwhile, we are proactively attempting to protect our property and assist in the protection and reconstruction of St. Bernard Parish, Louisiana St. Bernard Parish (French: Paroisse de Saint-Bernard) is a parish located in the U.S. state of Louisiana. As of 2000, its population was 67,229. In 2006, because of the effects of Hurricane Katrina, its population was estimated to be 25,489[1] which was devastated dev·as·tate tr.v. dev·as·tat·ed, dev·as·tat·ing, dev·as·tates 1. To lay waste; destroy. 2. To overwhelm; confound; stun: was devastated by the rude remark. by Hurricane Katrina. This is evident by the development of The Biloxi Marsh Stabilization and Restoration Plan as well as the establishment and funding of the Biloxi Marsh Disaster Relief Fund Corporation. We encourage all parties interested in assisting in the rebuilding of St. Bernard Parish to donate to the Biloxi Marsh Disaster Relief Fund Corporation. The Biloxi Marsh Disaster Relief Fund Corporation is working on a website that will give information on how to donate. The Fund's website will be www.selarelief.com ," commented William William, crown prince of Germany William or Frederick William, 1882–1951, crown prince of Germany, son of William II. In World War I he commanded (1914) an army on the Western Front and was nominal commander in the German attack B. Rudolf Rudolf, 1858–89, Austrian archduke, crown prince of Austria and Hungary; only son of Emperor Francis Joseph and Empress Elizabeth. Upon his mysterious death at Mayerling near Vienna (officially declared a double suicide with his mistress, Baroness Maria , President and Chief Executive Officer. Biloxi Marsh Lands Corporation owns approximately 90,000 acres of marsh lands located in St. Bernard Parish, Louisiana. As the landowner, it derives the vast majority of its revenue from oil and gas exploration and production activities that take place on or near the company's land. The company also derives minimal revenues from surface rentals. The Company maintains a website; www.biloximarshlandscorp.com and strongly recommends that all investors and interested parties visit the website to view historical press releases, historical financial statements and general information. This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. regarding oil and gas discoveries, oil and gas exploration, development and production activities and reserves. Accuracy of the forward-looking statements depends on assumptions about events that change over time and is thus susceptible to periodic change based on actual experience and new developments. The Company cautions readers that it assumes no obligation to update or publicly release any revisions to the forward-looking statements in this report. Important factors that might cause future results to differ from these forward-looking statements include: variations in the market prices of oil and natural gas; drilling results; unanticipated fluctuations in flow rates of producing wells; oil and natural gas reserves expectations; the ability to satisfy future cash obligations and environmental costs; and general exploration and development risks and hazards. Readers are cautioned not to place undue reliance on forward-looking statements made by or on behalf of the Company. Each such statement speaks only as of the day it was made. The factors described above cannot be controlled by the Company. When used in this report, the words "believes", "estimates", "plans", "expects", "should", "hopeful", "outlook", and "anticipates" and similar expressions as they relate to the Company or its management are intended to identify forward-looking statements. The following "Statements of Assets, Liabilities and Stockholders' Equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. " and "Statement of Revenues and Expenses and Retained Earnings Retained Earnings The percentage of net earnings not paid out in dividends, but retained by the company to be reinvested in its core business or to pay debt. It is recorded under shareholders equity on the balance sheet. " have been derived from an interim un-audited financial statement which does not include the information and footnotes that are an integral part of a complete financial statement.
BILOXI MARSH LANDS CORPORATION
Statements of Assets, Liabilities, and Stockholders' Equity
June 30, 2006 and 2005
Assets 2006 2005
----------- -----------
Current assets:
Cash and cash equivalents $ 3,411,661 1,050,629
----------- -----------
Total current assets 3,411,661 1,050,629
----------- -----------
Investments:
Marketable debt and equity securities - at
cost 19,627,771 13,003,968
Land - at cost 234,939 234,939
----------- -----------
19,862,710 13,238,907
----------- -----------
Property:
Levees and office furniture and equipment
(net of accumulated depreciation of
$205,204 ($168,553 at 2005) -- 2,898
----------- -----------
Total assets $23,274,371 14,292,434
=========== ===========
Liabilities and Stockholders' Equity
Current liabilities:
Federal income taxes payable $ 5,082,819 526,165
State income taxes payable 745,353 93,880
Payroll taxes payable 1,695 1,833
----------- -----------
Total current liabilities 5,829,867 621,878
----------- -----------
Stockholders' equity:
Common stock, par value $.001 - 20,000,000
shares authorized, 2,851,196 shares issued,
2,754,428 shares outstanding 47,520 47,520
Retained earnings 17,471,799 13,697,851
----------- -----------
17,519,319 13,745,371
Less cost of treasury stock - 96,768 shares (74,815) (74,815)
----------- -----------
17,444,504 13,670,556
----------- -----------
Total liabilities and
stockholders' equity $23,274,371 14,292,434
=========== ===========
BILOXI MARSH LANDS CORPORATION
Statements of Revenues and Expenses and Retained Earnings
June 30, 2006 and Comparable Period
3 Months Ended 6 Months Ended
June 30 June 30
2006 2005 2006 2005
------------ ------------ ------------ ------------
Revenues:
Oil and Gas
Lease bonuses and
delayed rentals $11,354 $1,265,223 $11,354 $1,326,788
Pipeline right of
ways - - - 104,660
Royalties (net of
production taxes) 2,185,235 5,230,204 10,278,671 11,909,674
------------ ------------ ------------ ------------
Total Oil and Gas 2,196,589 6,495,427 10,290,025 13,341,122
------------ ------------ ------------ ------------
Other:
Dividends and
interest 158,839 114,112 417,223 143,531
Gain on sale of
securities - (2,365) - 516,398
------------ ------------ ------------ ------------
Total Other
revenues 158,839 111,747 417,223 659,929
------------ ------------ ------------ ------------
Total Revenue 2,355,428 6,607,174 10,707,248 14,001,051
------------ ------------ ------------ ------------
Expenses
Total Expenses 487,971 274,198 979,216 532,398
------------ ------------ ------------ ------------
Net Income before
provision for
income taxes 1,867,457 6,332,976 9,728,032 13,468,653
------------ ------------ ------------ ------------
Income taxes
Provision for
income taxes 543,734 2,298,414 3,057,572 4,946,680
------------ ------------ ------------ ------------
Net Income 1,323,723 4,034,562 6,670,460 8,521,973
Retained Earnings-
beginning of
period 16,148,076 11,735,849 16,310,195 11,380,080
------------ ------------ ------------ ------------
17,471,799 15,770,411 22,980,655 19,902,053
Dividends - 2,072,560 5,508,856 6,204,202
------------ ------------ ------------ ------------
Retained earnings-
end of period $17,471,799 $13,697,851 $17,471,799 $13,697,851
------------ ------------ ------------ ------------
Per Share $0.48 $1.46 $2.42 $3.09
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