Former CI Host operator now leading public energy company
01/22/2014 6:51 PM
01/22/2014 6:52 PM
One-time Internet entrepreneur Chris Faulkner is now in the oil business, leading the latest area energy company into the public arena.
Dallas-based Breitling Oil & Gas, which Faulkner heads, on Wednesday said it closed a deal with Bering Exploration that makes it a publicly-traded firm. Its shares trade over the counter with the ticker BECC.
Those shares closed Wednesday at 40 cents a share, up 74 percent from Tuesday, as nearly 220,000 shares traded hands.
According to Breitling, Faulkner, 37, founded the company in 2004, although records with the Texas Secretary of State and the U.S. Securities and Exchange Commission show various related Breitling entities registered in 2009 and later.
Sharp-eyed readers might remember Faulkner from his days at Bedford-based CI Host, an early Internet host that he co-founded in 1997. It grew rapidly but by 2004 was mired in dozens of lawsuits, including one field by Microsoft, and it eventually shut down in late 2009.
In a prepared release, Faulkner said Wednesday was “an exciting day for Breitling,” which he said has “a decade of successful growth.”
According to a previous disclosure regarding the deal, Breitling as of Oct. 1 had proved, probable and possible oil and gas reserves with a net present value of $25.7 million. Energy companies disclose their reserves on a regular basis, and proved, probable and possible reserves, also called 3P, is the most optimistic estimate.
Meanwhile, in an SEC filing, Bering reported production revenue of $77,000 in its latest fiscal year, ended March 31, 2013.
Information on Breitling’s wells in Texas is sketchy. The company is not listed as a well operator within the state in Texas Railroad Commission records.
In an interview with Reuters last year, Faulkner said the company prefers to be a non-operating partner.
Faulkner could not be reached for comment Wednesday at the company’s Dallas offices.
Six Flags expanding kiddie area
It’s still a few months until summer, but Six Flags Over Texas in Arlington has started creating a buzz for its amusement park.
On Wednesday, Six Flags announced an expansion of its children’s area with the all-new Bugs Bunny Boomtown, featuring new colors and themes, and ample seating and shaded areas for moms, dads and grandparents.
Bugs Bunny Boomtown is scheduled to open in the spring.
“Families are at the core of everything we do,” said Steve Martindale, president of Six Flags Over Texas. “We pride ourselves on offering thrills for all ages and we look forward to having these new rides and attractions provide wonderful memories for youngsters and their parents for years and years to come.”
At the heart of Bugs Bunny Boomtown is the Looney Tunes Adventure Camp, an interactive play structure where kids can climb, slide and discover fun surprises, and Taz Tornado, which will have children spinning and twirling above the park in pint-sized swings.
Other attractions are the Bugs Bunny Cloud Bouncer, Marvin the Martian Space Rockets and Daffy Duck Bucket Blasters.
The Tile Shop comes to Southlake
The Tile Shop, a publicly-traded specialty retailer of premium manufactured and natural stone tiles, has opened a store in Southlake, its third in Dallas-Fort Worth and fifth in Texas.
The 8,1615-square-foot location is in Gateway Plaza at 2921 E. Texas 114.
The store features fully decorated, room-size displays, completed with actual appliances as well as lighting and plumbing fixtures that allow homeowners to see what their Tile Shop tile and stone will look like in their home.
The store also offers a free, how-to-tile workshop every Saturday at 9:30 a.m. Participants are offered a hands-on opportunity to learn how to set ceramic tile, natural stone tile, and mosaic tile. The Tile Shop operates 90 stores in 28 states.
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