SOURCE: NGAS Resources

May 14, 2007 11:54 ET

NGAS Resources to Be Featured on EnergyStocks.ws

Oil & Gas Informational Site to Track NGAS Progress and Production Data

LOS ANGELES, CA -- (MARKET WIRE) -- May 14, 2007 -- NGAS Resources Inc. (NASDAQ: NGAS) is pleased to announce that EnergyStocks.ws, the center for information on USA-based energy, petroleum and gas companies, has recently begun coverage on the Company.

NGAS Resources, Inc. is an independent exploration and production company focused on unconventional natural gas basins in the United States that support repeatable drilling opportunities, principally in the southern portion of the Appalachian Basin. The Company specializes in generating its own geological prospects in this region, where it has established expertise and recognition.

During 2006, NGAS achieved record production of 2.9 Bcfe, up 57% from 2005, contributing to 28% growth in their total revenue to $79.8 million.

NGAS also increased their estimated proved reserves by 34% to 100.9 Bcfe at the end of 2006, of which 42% are proved developed, with a reserve life index over 32 years based on annualized fourth quarter production.

Recent highlights from their latest quarterly filing ending March 2007 versus the same period in 2006 were:

--  Average daily production was 8.6 Mmcfe versus 7.4 Mmcfe
--  Total production volume increased 17 percent to 0.778 Bcfe
--  57 gross (23.60 net) wells drilled versus 79 gross (18.65 net), all
    successfully
--  Average sales price for natural gas was $8.62/Mcf versus $9.35/Mcf
--  Gas gathering and compression revenue rose 177 percent to $1.9 million
--  Oil and gas revenue increased 9 percent to $6.8 million
--  Capital expenditures of $11.3 million
--  14 miles added to gathering system
    
EnergyStocks.ws is currently reviewing financial data, public filings and historical oil & gas exploration and production figures, and has added a profile for NGAS on its web portal at www.energystocks.ws

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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 the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.

All material herein was prepared by EnergyStocks.ws, based upon information believed to be reliable including public filings and disclosure statements. The information contained herein is not guaranteed by EnergyStocks.ws to be accurate, and should not be considered to be all-inclusive. The content contained herein is not intended to be and is not an advertisement for any securities of any company that has been mentioned. EnergyStocks.ws has not been compensated in any way for this coverage. Third parties, their families and/or affiliates may benefit from a rise in the share price during the period in which EnergyStocks.ws is performing such opinions. Investing in micro-cap and growth securities is highly speculative and carries an extremely high degree of risk. We encourage our readers to invest carefully and read the investor information available at the web sites of the Securities and Exchange Commission ("SEC") and/or the National Association of Securities Dealers ("NASD").

Contact Information

  • NGAS Resources
    Investor Relations:
    Kathleen Heaney
    203-803-3585

    EnergyStocks.ws
    Patrick Smyth
    310.295.9683
    Email Contact