Noble Affiliate Inc.’s board of directors has approved an expanded program to repurchase common stock from time to time in the open market or privately negotiated transactions. The Houston company’s original program of $50 million has been increased to $100 million, and of the $100 million now authorized, about $70 million remains available to purchase additional shares. The company has already repurchased $30 million of stock and intends to hold all of the repurchased stock shares as treasury shares. As of Aug. 6, there were 56.6 million shares of issued and outstanding common stock.

Miami-based Strateginet Inc. has entered into a letter of intent to acquire Genesis Oil and Gas Inc., an independent holding company, for an undisclosed sum. Genesis has several shallow multi-zone potential areas in Kansas and Oklahoma that have “ready access to market,” said Strateginet, and it plans to begin signing joint ventures with experienced production companies to expedite cash flow. Total recoverable oil and natural gas reserves are valued at $2-3 million at today’s prices, said Strateginet. It did not offer a breakdown of the amount of reserves in oil or in gas.

Gasco Energy Inc., based in Denver, announced that the engineering firm Netherland Sewell & Associates Inc. has completed an unrisked resource and future revenue potential assessment on the company’s Riverbend assets in the Uinta Basin, and found that unrisked condensate stands at 1.4 billion bbl, with gas reserves at 904 MMcf. Using wellhead gas prices of $3.56/MMBtu, escalated 3%/year to a maximum of $4.15/MMBtu, the unrisked future total is worth $2.4 million and the net revenue’s current worth is $242,452. Condensate prices were held constant at $25/bbl throughout the life of the properties. Gasco’s current worth, discounted at 10%, is $129.6 million. The engineering firm identified 1,815 gross drilling locations, with 1,711 in Mesaverde and 104 in Wasatch locations. Gasco currently holds interests in more than 135,000 gross acres in Utah.

Reliant Energy Solutions has unveiled an Internet-based system, Energy Commander, which allows customers to view real-time energy use through the Internet. It was designed to assist large commercial and industrial customers in managing their energy consumption and costs with an integrated set of web-delivered tools that collect and analyze energy consumption and facility information. Electronic devices relay detailed information about a customer’s energy usage to the Energy Commander system, which analyzes and displays the data using charts and tables. For more information, contact William Symmes of Energy Information Systems at (713) 207-6691.

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