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WIKI ANALYSIS
New Frontier Energy
Company Profile New Frontier Energy, Inc. engages in the acquisition, development, exploration, and production of oil and natural gas properties in the United States. It holds a 66.7% interest in the Slater Dome Field consisting of 33,948 net acres, which is located in northwest Colorado and south central Wyoming; a 100% interest in the Flattops Prospect covering an area of 3,852 net acres, located in southwest Wyoming; a 15% interest in the Gibraltar Peaks Prospect comprising 15,049 gross acres in Routt County Colorado; and a 100% interest in the North Slater Dome Prospect, which consists of 1,600 acres. The company also owns royalty interests in certain wells in the state of Wyoming. As of February 28, 2007, its estimated proved reserves totaled 12,114,000 thousand cubic feet of gas. The company had interests in 84,382 gross acres and 40,058 net acres of oil and gas properties; and working interests in 11 coal-bed methane wells in the Slater Dome Field. In addition, it holds 82.76% limited partnership interest in Slater Dome Gathering, LLLP, which owns the 18-mile gas gathering pipeline that transports the company's natural gas from the Slater Dome Field to the Questar transportation line in Baggs, Wyoming. The company was founded in 2000 as Storage Finders.com, Inc. and changed its name to New Frontier Energy, Inc. in 2001. New Frontier Energy is based in Littleton, Colorado.
Recent News
New Frontier Energy, Inc. Boosts Production at Slater Dome CBM Field Monday April 21, 9:13 am ET
Gross Production Increased 282% for March 2008 Period Totaling 34.3 Million Cubic Feet, With a Corresponding Revenue Increase of 463%
DENVER, CO--(MARKET WIRE)--Apr 21, 2008 -- New Frontier Energy, Inc. (OTC BB:NFEI.OB - News), a natural resource company engaged in the exploration, acquisition and development of oil and gas properties in the United States, announced today that gross production at the Slater Dome CBM Field increased 282%, to 34.3 million cubic feet for March of 2008, compared to 12.1 million cubic feet produced in the March 2007 period.
New Frontier Energy holds a 66% working interest in the Slater Dome CBM Field.
Revenue based on NFEI's working interest for the month of March 2008 was $142,500, representing a 463% increase compared with $30,800 received during the same period in 2007. The Company received an average price of $7.78 per MCF during March 2008, compared to $4.74 per MCF received during the March 2007 period, a 164% increase.
Gross production for March of 2008 increased 18% compared to February 2008, which totaled 27.4 Million cubic feet. NFEI's monthly revenue for March 2008 increased $39,000 compared to February 2008, representing a 38% sequential increase. The Company received an average price of $7.06 per MCF during February 2008.
"The takeaway capacity of the Rex West pipeline continues to provide Rocky Mountain producers improved pricing for natural gas and we hope our selling price will eventually approach parity with the widely quoted Henry Hub price in the future," said Paul Laird, President of New Frontier Energy, Inc. "We intend to capitalize on this improved pricing scenario by boosting production significantly during 2008. Our new compression facility which comes on line at the end of April will facilitate producing from 6 additional wells drilled during 2007."
Officers and Directors
Paul G. Laird, President, CEO, and Director
Paul G. Laird has been the President and a director of our company since April 2003, and a director of Skyline since June 2003. He is currently the president of Natural Resource Group, Inc., a privately held oil and gas exploration and development company, a position he has held since 1997. Prior to that, he was the vice president of land operations for Western Alliance Petroleum Corporation and land manager for Canterra Petroleum, Inc., both private oil and gas companies. During this time, he was active in oil and gas exploration and development in the states of Montana, North Dakota, Colorado, Nebraska, Wyoming and Utah. Mr. Laird was a founder of International Marketing Corporation of Colorado, a private company engaged in the restaurant business. He received a Bachelor of Science in business with an emphasis in petroleum, land and real estate management from the University of Colorado in 1980.
Les Bates, Secretary/Treasurer, Principal Accounting & Financial Officer, and Director
Les Bates has been the Principal Accounting and Financial Officer, Secretary, Treasurer and a director of our company since April 2003, and Secretary and a director of Skyline since June 2003. Mr. Bates established Les Bates & Associates, Inc. in 1974 after five years of working with two of what were then known as “Big 10” accounting firms. Les Bates & Associates has provided a broad range of auditing, accounting, and tax services to public and private corporations, consisting of oil and gas companies, oil and gas drilling and development programs, mining and mineral exploration entities, light manufacturing companies, real estate developers, contractors, alternative energy companies and private individuals. Mr. Bates has taught oil and gas accounting classes as an adjunct professor at the University of Colorado -Denver and for the American Institute of Bankers, Denver chapter.
Grant I. Gaeth, Director
Grant I. Gaeth has been a director since April 2003 and has been involved in exploring for oil and gas since his graduation from Utah State University in 1953. He started with The Carter Oil Company and Humble Oil and Refining Company (Exxon), working as a field geologist in the Colorado Plateau, Basin and Range geological provinces. He worked on Exxon's geological efforts along the Colorado River, mapping structural leads throughout the Southern half of Utah. Mr. Gaeth has been self employed as an independent consulting geologist for the last 37 years.
Jubal S. Terry, Manager of Exploration
Jubal S. Terry. Manager of Exploration. In 1998, Mr. Terry co-founded Skyline Resources, Inc. where he served as president. From 1985 through 2005 when it was merged into New Frontier. Mr. Terry was co-founder and vice president of American Rivers Oil Company, a publicly traded oil and gas company until it was acquired by Alliance Energy. From 1985 to 1986, Mr. Terry co-founded Karlton Terry Oil Company and was responsible for all drilling, completion and production in the Rocky Mountain Region. From 1983 through 1984, Mr. Terry was Operations/Exploration Manager for Oil Development Company where he was responsible for all drilling and development in the Appalachian Basin. Mr. Terry received his Bachelor of Science degree in Geology from Western State College in Gunnison, Colorado in 1980.
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