Area Maps
Oil & Gas Resource Plays in US
Eagle Ford
Bayside Well under rework in Eagle Ford
Bayside Well under rework in Eagle Ford
Green Mountain and C. Trade Group Propose JV with Bayside Corp for Texas Oil Field Development Project
CARLSBAD, Calif. – January 18, 2012 – Representatives from Green Mountain Development Corp (Pinksheet: GMND), and C. Trade Group met in Texas last week with Bayside Corp (Pinksheet: BYSD) management as a follow up to the recently signed project development agreement between GMND and BYSD. The parties visited oil well sites and discussed project financing, compliance, logistics, remediation job opportunities and a joint venture deal structure for a multi-well development project the companies plan to begin in this quarter.
Green Mountain and C. Trade are assisting Bayside with project development of drilling leases from acquisition to commercial production. C. Trade Group discussed product distribution logistics and the use of its network resources to accelerate Bayside development efforts and also presented Bayside with draft JV agreement which is now in the review stages between the parties. During the oil field tour Green Mountain identified new business for its remediation and agricultural microbial product line at various well sites.
It is contemplated that a JV agreement will be signed in January and project commencement will begin this quarter. As part of its compensation for bringing all parties together, Green Mountain has a participation in the Joint Venture and will provide remediation products and services to Bayside projects.
Robert Brehm, CEO of Green Mountain stated, “I want to thank Bayside and C. Trade for giving us the opportunity to provide project development services in the energy sector. Expanding our baseline revenue sources enables us to rapidly build GMND on multiple fronts.”
Green Mountain Development and Bayside Corp Sign Texas Oil Field Project Development Agreement
CARLSBAD, Calif. – January 6, 2012 – Green Mountain Development Corp (Pinksheet: GMND), announced today that it has entered into an Oil Field Project Development Agreement (the “Agreement”) with Bayside Corp (Pinksheet: BYSD). The Bayside project opportunity was brought to GMND CEO, Robert Brehm, by a long time business associate who has followed the company’s progress with energy related projects and its new affiliate network.
As part of this Agreement, Green Mountain has agreed to assist Bayside with certain preliminary development work including project due diligence, investor presentations, identification of project capital sources and technology vendors and negotiation of a joint venture (JV) agreement between investors and Bayside. Green Mountain will draw upon the resources of its affiliate partners to develop a JV agreement to progress the development of Bayside drilling leases from the acquisition stage to commercial production.
It is contemplated that the Joint Venture would include a series of gated and milestone driven investments by Green Mountain affiliates and the comprehensive terms and conditions governing the structure and the respective commercial interests of the JV parties. As part of its compensation for bringing all parties together, Green Mountain would have a participation in the Joint Venture.
Robert Brehm stated, “We are delighted to work closely with Bayside on this energy project and we believe we can bring capital and additional technology to the JV to help maximize project returns. Depending on the financial results, this could be the first step in many projects with Bayside and our affiliate partners.”
Gordon Johnson, CEO of BYSD commented, “We look forward to working with Green Mountain and fast tracking the rework of existing wells to full production and developing a future acquisition program to bring additional wells online.”
South Texas Enjoys Major Boom From Oil Fracking
http://abcnews.go.com/Business/wireStory?id=13823463#.TxcJP4H9Wgk
South Texas oil boom turning into job boom
http://www.kens5.com/home/New-jobs-for-thousands-in-South-Texas-119798999.html
Shale Boom in Texas Could Increase U.S. Oil Output
http://www.nytimes.com/2011/05/28/business/energy-environment/28shale.html?pagewanted=all
South Texas towns seeing boom in oil industry
http://abclocal.go.com/ktrk/story?section=news/state&id=8447233
Black gold boom: Texas prepares to drill 3,000 oil wells in a YEAR that could deliver major boost for U.S. economy
South Texas boom offers opportunities in housing
