TN-K Energy Group, Inc. $TNKY
COMPANY SUMMARY
TN-K Energy Group Inc. is an independent oil exploration and production company, engaged in acquiring oil leases and exploring and developing crude oil reserves and production in the Appalachian basin. TN-K Energy Group Inc. began operations in the fourth quarter of 2009. They concentrate our operations in Kentucky and Tennessee primarily in the Murfreesboro, Knox and Wells Creek formations, although we also have assets located in the Granville, Stones River and Sunnybrook formations. All of these formations are primary known producing formations.
TURN KEY OIL CONSIDERATIONS
- The Company has an established, highly experienced team of oil drillers and consultants that are heavyweights in the industry.
- Drilling 14 wells in quarter 4 2012.
- Low PE Ratio based on the current stock price.
- They have reduced the amount of total outstanding shares by approximately 2,955,000 shares.
- Operating expenses and overhead are extremely low, including an annual salary of just $50,000 for the CEO.
- Anticipating additional media coverage quarter 4th 2012.
MANAGEMENT
CEO – Ken Page
Mr. Page has served as Chairman of the Board and Chief Executive Officer of our company since September 2007. Prior to joining the company, in 2006 Mr. Page was an associate broker with No. 1 Quality Realty in Tennessee. From 2002 to 2006, Mr. Page was a programmer with S &S Precision Inc., a Tennessee manufacturer of industrial molds, tool and die material and packing.
Director – Brad McNeil
Mr. McNeil has been a member of our Board of Directors since October 2007. Since 2000 Mr. McNeil has been the Plant Manager for Certified Cylinder, Inc., a Tennessee tank refurbisher. In addition, during the past 17 years Mr. McNeil has provided part-time field work for independent oil operators.
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RECENT CHART
This is not an offer to buy or sell securities. Oil investment carries with it very high risks. The information contained within this site has not been nor will it be verified by Turn Key Oil and is subject to change at any time. We are not a United States Securities Dealer or Broker or United States Investment Adviser. Do your own due diligence and consult with a licensed professional before making any investment decisions. Please read our full disclaimer before making any decisions.
TN-K Energy Group Inc. is proud to announce the completion of a $4.8 million two part transaction, which included the sale of its 27.5% Working Interest in the Clark leases and the acquisition of 5% Overriding Royalty interest in the Blaydes, Ervin, Hickerson, Simmons, Pansy Clark and JR Clark leases.
TN-K Energy Group Inc. (OTCBB:TNKY) today announced that the company led the sales and negotiations, between the buyers and sellers, of a $4.8 million two part transaction. The first part of the transaction involved the sale of its own 27.5% working and operating interest in existing production and the checkerboard participation rights known as the J.R. Clark and Pansy Clark leases, of approximately 700 acres, in Green County, Kentucky. TN-K retained 5% overriding royalty interest in existing production and received a 30% drilling participation right of the total undeveloped acreage in which the Company previously had only a checkerboard agreement. (Checkerboard agreement means the rights to only every other well to be drilled)
The second part of the transaction, which TN-K led, TN-K received a substantial commission, acquired 5% overriding royalty interest in the Blaydes, Ervin, Hickerson, and Simmons leases existing production, and up to 30% drilling participation rights on all new wells to be drilled on these leases for only the cost of drilling. The leases are located in Green County, Kentucky and total approximately 500 acres.
Ken Page, C.E.O. & President of TN-K Energy Group Inc. expressed his excitement in the transaction by stating, “TN-K has substantially increased our working capital, retained and gained drilling rights to some of the most highly producing and proven areas in the state of KY. The company has estimated these acquired drilling rights, which were of no cost through these negotiations, at a significant value. When considering our transactions over the past four months, it is safe to say that TN-K is focused on establishing a good source of revenue and the funds to further develop and acquire new leases that can increase our production.”
Micro Cap Headlines Coverage:
http://microcapheadlines.com/retrieve/retrieve.asp?cid=177
>The Company has an established, highly experienced team of oil drillers and consultants that are heavyweights in the industry.
>Low PE Ratio based on the current stock price.
>We have reduced the amount of total outstanding shares by approximately 2,955,000 shares.
>Operating expenses and overhead are extremely low, including an annual salary of just $50,000 for the CEO.