OTCBB: ELHI – StockGuru Profile – Edgeline Holdings Website
Enhanced oil recovery – or recovering oil from fields formerly viewed as depleted – is as fundamental and vital to the oil industry as drilling or refining at this point and ELHI has announced its intention to address that market with its newly formed subsidiary, New EnerSource, Inc.
The U.S. Energy Information Administration Report increased its annual report relied on Enhanced Oil Recovery Technology and in doing so raised its forecast! This report indicates how fundamental enhanced oil recovery is to our economy and that’s the good news. The bad news is that in nominal dollars by 2030 a barred of oil is expected to cost $95.00.
The Energy Information Administration (EIA), created by Congress in 1977, is a statistical agency of the U.S. Department of Energy. This agency provides policy-independent data, forecasts, and analysis to promote sound policy making, efficient markets, and public understanding regarding energy and its interaction with the economy and the environment. EIA said in its Annual Energy Outlook, which forecasts energy prices and consumption out 25 years that after 2017, U.S. Lower 48 crude output is expected to resume a slow decline to 5.1 million b/d by 2030. Last year’s Annual Energy Outlook Predicted 2030 output flat at 4.3 million b/d.“The difference is primarily attributable to a much slower decline in Lower-48 onshore oil production [than in last year’s report], mostly as a result of increased production from enhanced oil recovery technology, and to a lesser extent, significantly higher resource assumptions for the Williston Basin Bakken shale formation,” said EIA, the statistical arm of the US Energy Department.World crude prices are projected to drop gradually from their 2006 average through 2015 as new supplies come to market in response to high prices and expanded exploration and development investments, EIA said. After 2015, crude prices will begin to increase as demand continues to grow and higher-cost supplies come to market. By 2030, real world oil prices as measured by the US refiner cost of imported light, sweet crude, are projected to be just over $59/barrel in 2005 dollars, or about $95/barrel in nominal dollars, EIA said. The report expects imports to drop from 60% of US liquids supply (both crude and products) in 2005 to 54% in 2009. But in 2009, the trend reverses with imports reaching 61% in 2030. Reasons for the near-term import drop are: lower demand due to higher prices; more abundant US supplies thanks to enhanced oil recovery; more US production investment on stronger prices; and assumed greater resources in the deep water Gulf and elsewhere, the report said. Imports of refined products also will continue to grow, reaching 20% of total net imports in 2030, EIA said.
Source: Times Newspapers Ltd, 2007, Peter Warburton – Weekly Risk, and ELHI
Edgeline Holdings, Inc.
1330 Post Oak Blvd.
Suite 1600
Houston, TX 77056
Phone: (713) 621-5208
Email: investors@edgelineholdings.com
Website: www.edgelineholdings.com
About Edgeline Holdings, Inc.: Headquartered in Houston, Texas, Edgeline Holdings, Inc. is a publicly traded holding company that specializes in the area of discovering and acquiring leading-edge niche technologies. These technologies will be incubated and nurtured into market ready applications. Edgeline’s current and prospective portfolio consists of early stage companies that require management expertise to further develop the technology to ultimately maximize the value of such technologies by bringing them to market through licensing arrangements and partnerships.
Safe Harbor Statement: Thisrelease contains statements that may constitute forward-looking statements, including the company’s ability to successfully acquire and develop technologies that are and may be acquired. These statements are based on current expectations and assumptions and involve a number of uncertainties and risks that could cause actual results to differ materially from those currently expected. For additional information about Edgeline’s future business and financial results, refer to Edgeline’s Annual Report on Form 10-KSB for the year ended March 31, 2007. Edgeline Holdings undertakes no obligation to update any forward-looking statement that may be made from time to time by or on behalf of the company, whether as a result of new information, future events or otherwise. This release contains forward-looking statements that involve a number of risks and uncertainties. These forward-looking statements contain words such as “expects,” “believes,” “anticipates” and “intends.” Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, but are not limited to, economic conditions affecting the B2B environment; continued ability to obtain hardware, software and peripherals at competitive costs; the company’s ability to finance its planned expansion efforts; the company’s ability to manage its planned growth; and changes in regulations affecting the company’s business and such other risks disclosed from time to time in the company’s reports filed with the Securities and Exchange Commission. The company does not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in management’s expectations, except as required by law.
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