Thought everyone might like a recent update. It seems the Ness founder, Harold "Hayseed" Stephens died several years ago from complications (heart attack) following a blood clot which occurred during a flight from Israel. The company, now run by his son, is STILL on solid footing. Here's the latest financial report (this copy obtained on Yahoo):
"Press Release Source: Ness Energy International, Inc.
Ness Energy: $1,000,000 Income Estimate April And June Estimate to Equal or Exceed, Largest Quarterly Income Projected in Ness History for Israeli Vision
Monday June 7, 12:03 pm ET
WILLOW PARK, Texas & NETANYA, Israel--(BUSINESS WIRE)--June 7, 2004--Ness Energy International, Inc. (OTC Bulletin Board: NESS - News) announced, subject to financial statements being prepared, April income approached an estimated $1,000,000, the largest monthly income in the Company history, and current month (June) income is expected to reach or exceed $1,000,000, projecting the largest quarterly income in Ness history (Second Quarter), supplying cash from the business, for the first time in Ness history, to support our efforts here and see the company vision for Israel come to pass. The results are both in use and allocated for Texas operations, acquisitions and Israeli operations, and related needs. For example, the recent Texas acquisitions were funded from April income.
Ness President Sha Stephens confirmed, "I am thrilled. Ness has experienced the largest monthly income in our history, far exceeding any income for any past period of Ness, this income being derived from oil & gas sales, using our assets to grow the company and doing so without any stock sales from the company. I estimate our quarterly report will confirm income in excess of $1,000,000 based on April alone." ...
June Income Projected
President Stephens further stated, "As disclosed last week in a release, we expect to complete another deal with a large independent oil and gas company in the very near future. Based upon the circumstances of this one, and our past experience, we project monthly income for June may equal or exceed April. This quarter (April, May, and June, 2004) will reflect the largest income in Ness history. These figures confirm an upward trend in income, accompanying the upward trend in assets and revenue from production, previously announced."
Reliance on Financing Reduced, Results Support Israeli Vision
Ness plan of operations have, until now, consistently relied upon equity and debt transactions to fund operations while Ness sought to build cash flow. Like many public companies, Ness relied heavily on stock or similar financing transactions for funding. Another first for Ness ... through financing transactions remain an option, Ness has and continues to generate, other cash to meet operational demands. Numerous times Ness has stated it needs to have cash flow to support its Israeli vision, that Ness should explore Israel to find oil for Israel.
President Stephens stated, "I have repeatedly said, first, the vision for Israel requires us to build a Texas oil and gas producing company to support the Israeli efforts. Though we have a way to go, for the first time we have cash, and this cash will be properly allocated, including providing support of direct and indirect efforts in Israel."
About Ness-The Vision
The current business of the Company is focused upon development and execution of oil and gas exploration plans with a focus both on pursuits in the petroleum rich State of Texas, and also in the Middle East, specifically Israel. Ness believe Israel, in particular the southwest end of The Dead Sea, is a place where "Science and The Bible shake hands" and that Ness will achieve the vision of the location and recovery of an abundant source of oil and gas in Israel..."
How can such incredible news be kept under wraps so well? God's plan is incredible, and we are on His schedule.
This thread is just one of many reasons to offer daily thanks for FR...
Thanks for the update...this thread is a keeper.