City Capital Corporation’s offshore gas platform in the Gulf of Mexico will be operating at full capacity soon. There is an unending need for natural gas in the United States and in particular the chemical corridor on the Mississippi River requires an unending supply of natural gas to fire their plants.
Natural gas is a product with a market that has no evidence of declining need. For CCCN this is a GOOD THING!
Market prices have sparked new interest in natural gas, which once was regarded as a nuisance in the oil fields. In 1999, gas traded on the New York Mercantile Exchange at an average price of $2.35 per million British thermal units. Last year, the price averaged $9.20. In between, there were price spikes as high as $20.
The United States consumes about 60 billion cubic feet of gas per day — about a quarter of its energy consumption. Gas heats more than 60 million U.S. homes and is the fuel of choice for generating power in many areas.
Gas supplies are getting tighter.
In the Gulf of Mexico, production has declined by more than 4 billion cubic feet per day since 2001, while production in the North Sea is dropping by 15 percent a year as easy-to-reach deposits play out. Alternatives such as deep water drilling in the Gulf, drilling deep into the bottom of shallower Gulf waters and going after gas in the Rocky Mountains are more expensive.
Natural gas is important for more than home heating and production of electricity. The chemical industry uses gas as a raw ingredient in products and to generate steam and power. The industry says an ample supply of gas with stable prices is needed to keep the domestic chemical business competitive with foreign companies who often have access to much-cheaper fuel.
Link here to view Video of CCCN’s CEO.
Link here to view CCCN’s Quarterly Report filed on May 21, 2007.
Source: CCCN and AP
Gary Borglund, President/CFO/Secretary
CCCN — City Capital Corp.
2535 Pilot Knob Road
Suite 118
Mendota Heights, MN 55120
Website: http://www.citycapitalcorp.net/
Phone: (651) 452-1606
Fax: 651-452-5828
Forward Looking Statement: This release contains “forward-looking statements” based on current expectations but involving known and unknown risks and uncertainties, including those described in the Company’s annual report on Form 10-KSB for the year ended December 31, 2005, that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, whether as a result of new information, future events or otherwise. The Company’s plans and objectives are based on assumptions involving judgments with respect to future economic, competitive and market conditions, its ability to consummate, and the timing of, acquisitions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company’s control. Therefore, there can be no assurance that any forward-looking statement will prove to be accurate. The Company makes no undertaking to update such forward-looking statements.
StockGuru.com is owned and operated by Pentony Enterprises LLC, 9555 Lebanon Road, Suite 103, Frisco, Texas 75035. Telephone: (469) 252-3030. Web: StockGuru.com. Email: Publisher@stockguru.com. Disclosure: Pentony Enterprises LLC was compensated $12,500 directly from the company for profile coverage. Pentony Enterprises LLC is not a registered investment adviser or broker/dealer. Pentony Enterprises LLC makes no recommendation that the purchase of securities of companies profiled in this web site are suitable or advisable for any person or that an investment in such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk.
Disclosure: StockGuru.com is owned and operated by Pentony Enterprises LLC,9555 Lebanon Road, Suite 103, Frisco, Texas 75035. Telephone: (214) 458-4258. Web: StockGuru.com. Email: Publisher@stockguru.com.
City Capital Corp.
Symbol: CCCN-U (C0000)
City Capital -NASB – CCCN-U
Exchange: NASB
CUSIP: 17776P100
S&P GICS:
Sector: SEDOL: B0536D8
