DGAP-News: Stoney Plains Resource Corp.: STONEY PLAINS RESOURCES CORP. EVALUATING TWO HOUSTON, TEXAS PRODUCING OIL LEASE PROPERTIES WITH POTENTAIL REVENUES OF $10 MILLION USD
(firmenpresse) - DGAP-News: Stoney Plains Resource Corp. / Key word(s): Miscellaneous
Stoney Plains Resource Corp.: STONEY PLAINS RESOURCES CORP. EVALUATING
TWO HOUSTON, TEXAS PRODUCING OIL LEASE PROPERTIES WITH POTENTAIL
REVENUES OF $10 MILLION USD
30.01.2012 / 09:00
---------------------------------------------------------------------
Toronto, ON- Stoney Plains Resources Corp. (DE:RPS) Equity, ISIN
CA8620181088, WKN A1JDD8, RPS-as part of the company's two year strategic
growth plan Stoney Plains has identified two more oil producing lease
properties in the prolific oil rich state of Texas.
The Houston located lease properties present two exceptional opportunities
that fit the company's growth initiatives.
The first Houston, Texas Oil Field is producing an estimated 200 BOPD.
There is ongoing development and work over programs with an estimated
250,000 recoverable reserves. With current estimated production at 200 BOPD
and a 75% working interest and 75% Net Reserve Interest. The projected
gross revenues at 200 BOPD is $540,000 USD per month and $6.25 million
annually
The second oil field located in Houston presents a massive oil field that
is currently producing 70 BOPD with work over commencing to increase
production to 100 BOPD. There is tremendous opportunity for extensive
development of this oil field. The working interest on this property is
10%. The projected gross revenues at 100 BOPD is $270,000 USD monthly and
$3.2 million annually.
Stoney Plains Resources focus is on acquiring producing and non-producing
oil and gas leases in the U.S. South West and is currently examining five
different lease properties.
Updates on these potential acquisitions will be made available on the
company's website at www.stoneyplainsresource.com and or via press
release.
** END OF NEWS RELEASE **
About Stoney Plains Resources Corp.
Equity, ISIN CA8620181088, WKN A1JDD8, RPS
Stoney Plains Resources Corp. is an exploration development integrated oil
company with operations in Oklahoma. Our focus is to purchase high value
oil leases and bring them into full production. Due to the current economic
conditions, several tangible opportunities have become available in areas
recognized for proven and continuous oil production. The company has
recently secured purchased agreements with oil producers in both Oklahoma
and Texas. The Agreement will allow the company to purchase 2.5 million
barrels of oil for a fixed discount price. Revenues will be reinvested to
acquire undervalued oil wells, with the intention of reworking these wells
using the latest oil recovery techniques.
This news release may contain certain forward-looking statements,
expectations, intentions, strategies and beliefs regarding the future.
All statements contained herein are based upon information available to the
management of Stoney Plains Resources Corp.as of the date hereof, and
actual results may vary based upon future events, both within and without
the control of the management, including risks and uncertainties that could
cause actual results to differ materially.
Management does not take any responsibility to update the contents of this
News Release in case new aspects arise or new conditions change the facts
available.
Contact: Stoney Plains Resources Corp.
Bradley Sauder
Corporate Relations
647-930-5396
bsauder(at)stoneyplainsresource.com
End of Corporate News
---------------------------------------------------------------------
30.01.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
154324 30.01.2012
Themen in dieser Pressemitteilung:
stoney-plains-resource-corp-stoney-plains-resources-corp-evaluating-two-houston
texas-producing-oil-lease-properties-with-potentail-revenues-of-10-million-usd
Unternehmensinformation / Kurzprofil:
Bereitgestellt von Benutzer: EquityStory
" alt="Prairie West Oil and Gas Increases Footprint In Energy Rich Geographical AreaDatum: 30.01.2012 - 09:00 Uhr
Sprache: Deutsch
News-ID 108706
Anzahl Zeichen: 2859
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 307 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: Stoney Plains Resource Corp.: STONEY PLAINS RESOURCES CORP. EVALUATING TWO HOUSTON, TEXAS PRODUCING OIL LEASE PROPERTIES WITH POTENTAIL REVENUES OF $10 MILLION USD"
steht unter der journalistisch-redaktionellen Verantwortung von
Stoney Plains Resource Corp. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
