746834--3/11/2010--NGAS_Resources

related topics

{gas, price, oil}

{debt, indebtedness, cash}

{stock, price, share}

{cost, contract, operation}

{loss, insurance, financial}

{personnel, key, retain}

{condition, economic, financial}

We are leveraged and may be unable to repay or refinance our long-term debt on satisfactory terms. Our outstanding convertible notes require monthly principal amortization payments either in cash, which may be unavailable, or in common shares, which may be dilutive to shareholders. The level and terms of our outstanding debt may limit our financial and operating flexibility and performance. Challenging economic, business and industry conditions may adversely impact our operating results, liquidity and future prospects. Our current proved developed reserves will decline from depletion of our existing wells. Estimates of our proved reserves are based on assumptions that could cause them to be substantially higher or lower than the volume and net present value of natural gas and oil actually recovered. We may be unable to fully develop our oil and gas properties due to general economic conditions or capital constraints. The timing and costs of implementing our planned drilling schedule are uncertain and may differ materially from our expectations. Our operations involve hazards and exposure to liabilities that might not be fully covered by insurance. Our production volumes may be less than anticipated We depend on key personnel for decision making and industry contacts. We have never paid dividends on our common stock and do not anticipate any change in that policy. Market prices for our common stock are volatile.

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746834--3/11/2010--NGAS_Resources_Inc