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Blue Dolphin Energy Co. is Added to Watch List.

Publication: M2 Presswire
Publication Date: 02-APR-07
Format: Online
Delivery: Immediate Online Access

Article Excerpt
M2 PRESSWIRE-2 April 2007-Oil and Gas News: Blue Dolphin Energy Co. is Added to Watch List(C)1994-2007 M2 COMMUNICATIONS LTD

RDATE:02042007

Blue Dolphin Energy is trying to stay afloat in the waters of the Gulf of Mexico. Blue Dolphin Energy explores for and acquires, develops, and operates oil and gas properties in the Gulf of Mexico and along the Texas Gulf Coast. The company also owns offshore pipeline operations. Blue Dolphin Energy swam in choppy waters in 2003 and 2004, running up heavy debts in its exploration and production activities. Rising oil prices helped to improve its lot in 2005. It reported proved reserves of 900 barrels of oil and 341 million cu. ft. of natural gas that year.

Shares were down 8% reporting fourth quarter results.

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