Petroshale Announces Asset Acquistion
(firmenpresse) - DENVER, COLORADO -- (Marketwired) -- 05/22/13 -- PetroShale Inc. ("PetroShale" or the "Company") (TSX VENTURE: PSH) is pleased to announce it has completed an acquisition of 105 net acres of land and a 1.5% average working interest in 11 producing wells in the Williston Basin Bakken and Three Forks play for a purchase price of $2.5 million in cash.
Current production net to PetroShale from seven wells is approximately 60 BOE per day (approximately 86% liquids). The other four producing wells remain on confidential status until June 2013. In addition to the 11 producing wells there are 10 permitted well locations from a total of 45 gross drilling locations in the area of the Williston Basin along the Mackenzie County/Mountrail County border.
"This transaction illustrates our current strategy of purchasing non-operated interests in prime locations with strong near term drilling activity and economics", says Evan Genaud, CEO of PetroShale. "Lease holders are feeling the financial pressures associated with the new paradigm of high well counts per drilling pad in the Williston Basin. We are able to help current owners monetize their assets while building a quality resource portfolio for PetroShale shareholders."
Note: "BOE" means barrel of oil equivalent on the basis of 6 Mcf of natural gas to 1 Bbl of oil. BOE's may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf:1 Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6 Mcf:1 Bbl, utilizing a conversion ratio at 6 Mcf:1 Bbl may be misleading as an indication of value.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
PetroShale Inc.
Attention: Evan Genaud
Chief Executive Officer
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 22.05.2013 - 13:00 Uhr
Sprache: Deutsch
News-ID 262485
Anzahl Zeichen: 0
contact information:
Town:
DENVER, COLORADO
Kategorie:
Oil & Gas
Diese Pressemitteilung wurde bisher 329 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Petroshale Announces Asset Acquistion"
steht unter der journalistisch-redaktionellen Verantwortung von
PetroShale Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
