Corporate Profile for Miller Petroleum, Inc., dated May 17, 2002.Business Editors --(BUSINESS WIRE) The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and online services, including all of the leading Internet-based services. -0-
Published Date: May 17, 2002
Company Name: Miller Petroleum, Inc.
Address: 3651 Baker Highway, P.O. Box 130
Huntsville, TN 37756
Main Telephone
Number: 423/663-9457
Internet Home
Page Address: www.millerpetroleum.com
Chief Executive
Officer: Deloy Miller
Chief Financial
Officer: Lawrence L. LaRue
Investor Relations
Contact: Les Schupak/Rob Greenberg
Business number: 212-896-1207/212-896-1265
E-mail address: lschupak@kcsa.com / rgreenberg@kcsa.com
Public Relations
Contact: Les Schupak/ Rob Greenberg
Business number: 212-896-1207/212-896-1265
E-mail address: lschupak@kcsa.com / rgreenberg@kcsa.com
Industry: Oil and Gas
Trading Symbol/
Exchange: OTC: MILL
Company Description: Miller Petroleum, OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : MILL 52-Week Price Range: $.40 - $2.25 Shares Outstanding: 8.6 million Market Capitalization: $7.31 million Float: 1.6 million Miller Petroleum, Inc. is a Tennessee-based natural gas and crude oil exploration and production company, emphasizing natural gas and oil development in the Appalachian Ap`pa`la´chi`an a. 1. Of or pertaining to a chain of mountains in the United States, commonly called the Allegheny ltname> mountains. Noun 1. Basin. In business for 33 years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time Company has oil and/or gas production in six Tennessee counties Tennessee County was a subdivision of the territory of North Carolina that later became the state of Tennessee. Tennessee County was organized in 1788 from a portion of Davidson County. : Campbell, Fentress, Hancock, Morgan Morgan, American family of financiers and philanthropists. Junius Spencer Morgan, 1813–90, b. West Springfield, Mass., prospered at investment banking. , Overton and Scott. It has drilled or serviced more than 65 percent of the total wells in the state and sells all of its production of natural gas and crude oil to major regional buyers. In the past two years (fiscal years 2001 and 2002), the Company has aggressively pursued opportunities to explore and acquire acreage in the Eastern Overthrust Belt, which management's geologic ge·ol·o·gy n. pl. ge·ol·o·gies 1. The scientific study of the origin, history, and structure of the earth. 2. The structure of a specific region of the earth's crust. 3. A book on geology. exploration and analysis indicate will yield extensive new production of both oil and natural gas. An independent analysis commissioned by the Company and carried out in April 2001 by Coburn Petroleum Engineering of Tulsa, Okla., indicated that existing Miller Petroleum wells should recover about 884,759 barrels of oil and 27,746,871 thousand cubic feet (Mcf) of natural gas. These existing reserves should yield an undiscounted future net income of $64,356,698 after royalties, operating costs operating costs npl → gastos mpl operacionales , development costs and severance The act of dividing, or the state of being divided. The term severance has unique meanings in different branches of the law. Courts use the term in both civil and criminal litigation in two ways: first, when dividing a lawsuit into two or more parts, and second, when and ad valorem taxes Ad Valorem Tax A tax based on the assessed value of real estate or personal property. In other words ad valorem taxes can be property tax or even duty on imported items. Property ad valorem taxes are the major source of revenues for state and municipal governments. , but before federal and state income taxes. The present value of this future net income is $37,195,877, when discounted at 10 percent, evaluated according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the standards recommended by the Securities and Exchange Commission. This equates to ove! r $4 per share. Anticipating a rise in demand and price, Miller Petroleum is taking advantage of current low costs to aggressively expand its reserve base, production and cash flow by developing existing oil and gas fields. At the same time, the Company is selectively acquiring other strategically located properties where it can use its advanced technology and expertise for profitable exploration, drilling, and marketing. The Company is also maintaining a cost-control program and more efficient use of personnel and equipment, changes instituted to measurable benefit in FY 2001 and continued through 2002. The overall aim is to position the Company for steady growth in the current market and for rapid revenue increase when prices begin to rise. Miller Petroleum is led by Deloy Miller, who is a seasoned gas and oil professional with more than 30 years of experience in the drilling and production business in the Appalachian Basin. Mr. Miller served two terms as president of the Tennessee Tennessee, state, United States Tennessee (tĕn`əsē', tĕn'əsē`), state in the south-central United States. Oil & Gas Association and in 1978 was named the Tennessee Oil Man of the Year. |
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