SOURCE: Ocean Eclipse Venture Capital

May 31, 2007 10:00 ET Comments on Hurricane Season and Possible Effects on Oil Prices

Recent Gas Price Drop the Calm Before the Storm?

LOS ANGELES, CA--(Marketwire - May 31, 2007) -, the center for information on USA based energy, petroleum and gas companies, is pleased to provide commentary that the possibility that the strong hurricane season may increase the demand for oil through potential drops in production.

Experts at the National Oceanic and Atmospheric Administration Climate Prediction Center are projecting a 75 percent chance that the Atlantic Hurricane Season will be above normal this year. The NOAA forecast 13-17 named storms during the Atlantic hurricane season, with 7-10 of those becoming hurricanes and 3-5 hurricanes reaching Category 3 strength or higher.

Oil & gas futures dropped earlier this month, and are now inching back up again on worries about disruptions in Nigeria and gasoline supplies in the U.S. Gasoline prices have risen steadily since January on concerns about domestic refining capacity and the ability of producers to meet summer driving demand. Those worries have been dogged by a spring that has seen more unexpected refinery outages than usual.

A combination of a potentially damaging hurricane season may further exacerbate supplies and force higher pricing both in the futures market and at the pump.

Given that many companies in the production of oil and gas base their revenue estimates on a price per barrel between $60 and $65 for 2007, a significant increase in oil futures may change their outlooks.

New Century Energy Corp. (OTCBB: NCEY) recently announced that had begun coverage on the Company. New Century Energy is an energy company engaged in oil and gas exploration, development and production.

The Company has interests in over 15,000 acres throughout the State of Texas, including oil producing acreage in San Miguel Creek Field and the Mustang Creek Acquisition in McMullen County; the Tenna Field in Wharton County; and the Prado Field in Jim Hogg County, Texas. Natural gas producing fields include the operated Sargent South Field in Matagorda County, and non-operated acreage in the Wishbone Field in McMullen County, Texas.

NGAS Resources Inc. (NASDAQ: NGAS) also recently announced that had begun coverage of its operation and was currently reviewing financial data, public filings and historical oil & gas exploration and production figures.

NGAS Resources, Inc. primarily engages in the exploration and production of natural gas in the eastern United States. The company holds interests in various oil and gas properties, including the Leatherwood field, the Arkoma CDX field, the SME field, the Straight Creek field, the Kay Jay field, and the Fonde fields. Within the past year, NGAS drilled 10 wells on its coal bed methane properties in the Arkoma Basin and drilled 38 wells in the New Albany Shale in the Illinois Basin.

About presents analysis on a number of products including oil & gas exploration, stocks and investment. It also provides updated news and commentary on the financial aspects of the industry. is managed by Ocean Eclipse Venture Capital Group (OEVCG), which provides venture capital, early stage financing, investment research and analysis services to emerging technology and breakout corporations.

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Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of each companies' mentioned products, increased levels of competition for each, new products and technological changes, each's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the Companies' periodic reports filed with the Securities and Exchange Commission.

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