. And More Lawyer Stuff There are three reasons why lawyers are replacing rats as laboratory research animals. One is that theyre plentiful, another is that lab assistants dont get attached to them, and the third is that there are…
The Company 4
Contangos Core Beliefs From Inception The only competitive advantage in the natural gas and oil business is to be among the LOWEST COST producers Virtually all the exploration and production industrys VALUE CREATION occurs…
Lowest Cost * CONTANGO Three Months Ended 12/31/10 DD & A 1.74 LOE 0.67 G&A 0.35 Interest 0.00 TOTAL 2.76 / Mcfe Vs. 42 Company Average 5.72 / Mcfe Investors should focus on costs but also on accounting methods used to…
A Word About Our Biggest Expense - TAXES We are profitable using both GAAP and IRS Accounting Measures Our IRS taxes can be deferred primarily due to the immediate expensing of Intangible drilling costs (IDCs) for taxes only, not…
Maximize Shareholder Wealth Per Share.With Conditions Our first priority is to always put the safety of our employees, partners and contractors first. Our second priority is to protect the environment where we work and live. Our…
19,000,000 Negative Dilution Share Repurchases's Series E* 18,000,000 17.8 MM 17,000,000 16.7 MM Series D 16,000,000 Fully Diluted Shares Series C 15.7 MM 15,000,000 Preferred Series Capital Raised 2.6 MM Seed…
Shareholder Value Creation and Capital Allocation * * Compounded Annual Growth in Earnings Cage analysis helps identify companies that CREATE and RETURN capital to shareholders ROE is a distorted measure if E (Equity) is…
Contango is now in the S & P SmallCap 600 Index Covers approximately 3% of the domestic equities market SmallCap 600 is maintained by the S & P index committee Criteria to be selected to S & P Small Cap 600 Appropriate Corporate…
Contangos Owners December 31, 2010 Institution Shares Held % S/O Cumulative % International Value Advisors, LLC 1,681,485 10.73% 10.73% BlackRock Fund Advisors 1,015,449 6.48% 17.22% Memo: S & P Keeley Asset Management Corp. 659,600…
Contango Doesnt Have Lots of shares: 15.7 million outstanding and fully diluted Lots of options: 45,000 and shrinking Lots of paid in capital (SEE PEAK RATIO) Lots of PUDs Lots of employees: 8 Lots of wells 11 offshore Lots of…
If you owned 100% of Contango As an Entity Youd have received back 38 million more than you invested Youd own 100% of Contango ORE valued at 29 million at todays price of 17/Share Youd own a company with a market Cap of 950…
VR 170 Swimmy Applied for permit September 29, 2010 Received Final permit February 16, 2011 Spuded well February 24, 2011 Logged March 22, 2011 Expect to have on line fall 2011 Initial expected rate 25 Mcfed 15 Mcfed net to…
Why Does Contango STILL like the GOM Economics Acreage, G & G and seismic costs last 4 years combined: 20 million NRI to Contango AFTER landowner ORRI and AFTER G & G Promote: 6570% Severance Tax(1): 0% Ad Valorem Tax(1): 0%…
NatGas In a Free Market Could it be any clearer that Natural Gas Is the answer to our energy problems Alternative Natural Oil Coal Energy Nuclear Gas Price X + X + Assured Supply X X + US Jobs X MIA + Environmentally X Friendly X X…
Contango Investment Rationale GAAP EPS is the metric that counts Net margins drive E bigger is better Fully-diluted shares drive the percentage you own fewer fully diluted shares are better We are wildcatters not manufacturers…
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