BALTIMORE, MD -- (Marketwired) -- 06/07/13 -- Goldman Small Cap Research, a stock market research firm focused on the small cap and microcap sectors, has initiated research coverage of Multi-Corp International, Inc., an emerging junior oil and gas exploration and production company.
The Company owns 100% working interest in 2,800 acres in New Mexico that has an abundant and favorable drilling history. The Cave Pool Unit and field contain 32 wells that have produced but are currently shut-in. Combined estimated oil production is roughly 1200 BOPD (barrels of oil per day). Plus, the Company just signed an LOI to purchase 100% working interests in the Double X property from bankrupt Quad Energy, in exchange for 3 million restricted shares. Double X consists of 1480 acres of land holdings with 14 producible wells capable of producing 38 BOPD. Once undisclosed conditions related to the bankruptcy are met, the property can be delivered to MULI. On a combined basis, if management meets its full projections regarding the wells and reserves potential, the Company could ultimately produce as much as 3,400 barrels of oil (BOPD) per day.
In the Goldman Opportunity Research report on the Company, analyst Rob Goldman outlines his investment thesis.
"In our view, MULI is an intriguing play as it is seeking to produce oil and gas on what could be viewed as unconventional properties with favorable history that offer great upside. With key inflection points such as the New Mexico go-ahead and the meeting of bankruptcy transaction conditions around the corner, the stock could enjoy a couple of jumps prior to the projected commencement of production in 2H13."
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About Goldman Small Cap Research: Led by former Piper Jaffray analyst and mutual fund manager Rob Goldman, Goldman Small Cap Research produces small cap and micro cap stock research reports, daily stock market blogs, and popular investment newsletters. For more information, visit www.goldmanresearch.com.
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About Multi-Corp International, Inc.: Multi-Corp International, Inc. Multi-Corp International is an Exploration and Production (E&P) company focused on delivering superior operating and financial results by developing and acquiring oil and gas resources initially in New Mexico and then throughout North America, that are contributing to the country's energy security and vital to the world's health and welfare.
The Cave Pool Unit property covers 2,800 acres located within Eddy County, NM. It is located within the prolific Artesia Vacuum Trend -- more specifically within the Grayburg Jackson Pool. The Artesia Vacuum Trend play contains thirteen reservoirs with more than 1 MMBO cumulative production. Cumulative production from these 13 reservoirs was 796 MMBO as of 2000. Depths to the top of reservoirs range from 1290 to 4700 ft. This is a mature play, especially within the highly productive San Andres carbonates. Recent development of lower permeability Grayburg sandstones in the Grayburg Jackson reservoir during the mid-1990's has been successful to the point of reversing production decline and is a major focus of current and future development.
For more information, please visit http://www.multi-corpinternational.com.
Goldman Small Cap Research
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