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Metairie, LA., August 5, 2016 (BUSINESS WIRE) – Biloxi Marsh Lands Corporation (PINK SHEETS: BLMC) today announces its unaudited results for the second quarter of 2016 and first six months of 2016 and provides update. The Company’s revenue for the three months ended June 30, 2016 from oil and gas production for its fee lands was $14,865 compared to revenue of $66,016 for the second quarter of 2015. For the first six months of 2016, revenue generated from the Company’s fee lands decreased to $48,959 from $152,455 for the same period in 2015.

Meanwhile, dividend and interest income for the first six months of 2016 was $65,376, compared to $68,570 for the first six months of 2015. During the second quarter of 2016, based on its investment counselor’s advice, the Company realized a cumulative loss from the sale of investment securities of $102,641 compared to a cumulative gain in the amount of $483,694 for the same period in 2015. For the first six months of 2016, the cumulative loss from the sale of investment securities was $102,570 compared to a cumulative gain of $733,572 for the first six months of 2015. For the second quarter of 2016, total revenues included a $563,880 loss from the Company’s investment in B&L Exploration, LLC (B&L). This compares to a loss of $79,353 from B&L for the second quarter of 2015. Correspondingly, total revenue for the six months ended June 30, 2016 includes a net loss of $848,189 generated by B&L compared to a net loss of $305,201 from B&L for the first six months of 2015. Expenses for the second quarter were $212,999 compared to $247,652 for the same period of 2015. Total expenses for the first six months of 2016 and 2015 were $401,972 and $466,154, respectively. The Company incurred a net loss of $824,771 or $.33 per share for the second quarter of 2016 compared to net income of $162,317 or $.06 per share in 2015. Meanwhile, for the first half of 2016, there was a net loss of $1,078,518 or $.43 per share compared to net income of $116,890 or $.05 per share for the same period of 2015.

As of June 30, 2016, the combined gross daily production rate from 7 wells operated by the Company’s mineral lessees was approximately 0.369 million cubic feet of natural gas (Mmcfg) and 136 barrels of oil per day (BOPD) with net daily production accruing to the Company of approximately .019 Mmcfg and 2 BOPD. Meanwhile, as of June 30, 2016, B&L’s gross daily production was approximately 52,735 Mmcfg and 282 barrels of oil from 7 wells with approximately 1.50 Mmcfg and 31 barrels of oil per day accruing to B&L.

As previously reported, the Company has filed a claim against the US Army Corps of Engineers (USACE) for property damage and losses caused by the Mississippi River Gulf Outlet (MR-GO). It is anticipated that this litigation against the federal government will be a long process.

B&L was organized as a limited liability Company (LLC) under the laws of Louisiana in July of 2006. B&L’s members are BLMC and Lake Eugenie Land & Development, Inc. (LKEU), which have membership percentages of 75% and 25%, respectively.

William B. Rudolf, President and CEO, commented: “Low commodity prices continue to create a difficult operating environment for the Company. Management is focused on operating efficiencies. Being well positioned will allow the Company to identify and take advantage of opportunities that may arise in the current market.”

The Company maintains a website,, and strongly recommends that all investors and interested parties visit the website to view historical press releases, historical financial statements, and other relevant information.

Biloxi Marsh Lands Corporation owns approximately 90,000 acres of marsh lands located in St. Bernard Parish, Louisiana. As the landowner, it derives revenues from oil and gas exploration and production activities that take place on or near the Company’s fee lands and revenues from surface rentals. BLMC also owns a seventy-five percent interest in B&L Exploration, LLC which explores for and develops oil and gas primarily in Louisiana and Texas.

This news release contains forward-looking statements regarding oil and gas discoveries, oil and gas exploration, development and production activities and reserves. Accuracy of the forward-looking statements depends on assumptions about events that change over time and is thus susceptible to periodic change based on actual experience and new developments. The Company cautions readers that it assumes no obligation to update or publicly release any revisions to the forward-looking statements in this report. Important factors that might cause future results to differ from these forward-looking statements include: variations in the market prices of oil and natural gas; drilling results; unanticipated fluctuations in flow rates of producing wells; oil and natural gas reserves expectations; the ability to satisfy future cash obligations and environmental costs; and general exploration and development risks and hazards. Readers are cautioned not to place undue reliance on forward-looking statements made by or on behalf of the Company. Each such statement speaks only as of the day it was made. The factors described above cannot be controlled by the Company. When used in this report, the words “believes”, “estimates”, “plans”, “expects”, “could”, “should”, “outlook”, and “anticipates” and similar expressions as they relate to the Company or its management are intended to identify forward-looking statements.

The following “Statements of Assets, Liabilities and Stockholders’ Equity” and “Statements of Revenues and Expenses” have been derived from interim un-audited financial statements which do not include the information and footnotes that are an integral part of a complete financial statement.

Biloxi Marsh Lands Corporation
Colleen Starks: 504-837-4337

BLMC Statements of Assets, Liabilities, and Stockholders’ Equity – June 30, 2016 and 2015

Current assets:
Cash and cash equivalents1,485,343   
Accounts receivable31,946   
Prepaid expenses60,030   
Accrued interest receivable17,565   

Deferred tax asset205,918   

Income taxes receivable
Other assets:3,830   
Total current assets1,816,775   
Other assets:
Investment in partnership2,103,841   
Marketable debt and equity securities – at cost7,067,002   
Geological and geophysical costs – fee lands, net of amortization24,032   
Levees and office furniture and equipment315,943   
Accumulated depreciation(314,317)  

Total other assets9,431,440   
Total assets11,248,215   
Liabilities and Stockholders’ Equity
Current liabilities:
Income taxes payable048,930
Accrued expenses14,363   

Total current liabilities14,363   
Stockholders’ equity:
Common stock, $.001 par value. Authorized, 20,000,000 shares; issued, 2,851,196 shares; outstanding, 2,535,028 shares in 2016 and 2015, respectively47,520   
Retained earnings14,028,957   
Treasury stock – 316,168 shares in 2016 and 2015,


Total liabilities and stockholders’ equity11,248,215   

BLMC Statements of Revenues and Expenses, June 30, 2016 and 2015

3 Months Ended6 Months Ended
June 30June 30
Revenues USD($):
Oil and gas royalties $14,865
Total oil and gas revenues 14,865


Other income (loss):
Loss from investment in partnership (563,880)

Dividends and interest income 32,774


Gain on sale of securities (102,641)

Surface Rentals 7,110
Total other income

Total revenues and income (611,772)

Total expenses 212,999


Net income before income taxes (824,771)

Income tax expense (benefit)97,732 (152,768)

Net income $(824,771)
162,317 $(1,078,518)

Net income per share $(0.33)