Prairie West Oil and Gas Provides Year in Review Update

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Prairie West Oil and Gas Provides Year in Review Update

Highlights past success and future growth

It has been a little over a year since Prairie West began publically trading. As a company we would like to at this time put in front of our current and future shareholders all that has been accomplished in this short period of time. In the text below we will lay out where Prairie West was a year ago, where the company is right now and what was done to get there. The goal is to clearly demonstrate a proven track record of success and reinforce our belief that Prairie West has all the pieces in place to be successful in the energy markets of today.

Moving forward every indication is that 2011 will continue to be a fantastic year for Prairie West Oil and Gas. Management is proud of all the accomplishments of the past year but is in no way content to rest on its success. Every day the team is aggressively working towards the goals of more production, enhanced transparency and rapid growth. Now with more resources at its disposal the company is confident it can double or even triple last year’s successes while maintaining its core company values of a low risk profile and debt burden.

::::: SUMMARY :::::
Approximately one year ago Prairie West Oil & Gas Ltd only had one exciting undeveloped property that contained viable drilling targets and substantial proven reserves. Today Prairie West has online production, twelve Heavy Oil wells, is cash flow positive and is now very close to developing the aforementioned initial play to its full potential. Management has been swiftly added when weakness was identified and ‘Team Prairie West’ is stronger than ever.

On the public market side, the admission to the Entry Standard should be completed shortly and will represent yet another instance of management’s ability to follow through.

It is important to note that all this has been accomplished without bank or institutional financing. This accomplishment is something that ‘Team Prairie West’ is extremely proud of as it demonstrates fiscal discipline and the firm understanding that heavy debt can easily crush a junior energy company.

The fact that Prairie West has chosen Heavy Oil as its acquisition target of choice is a clear indicator that the company understands risk, cares about risk and has the expertise to mitigate it.

Management will continue to actively seek out acquisitions that have positive metrics with the goal of duplicating previous successful M&A activity. The company has proven its ability to execute in this area, has even more relationships in place and therefore sees no reason the success will not continue.

The Twinning project is getting closer to drilling and development. This project once complete will represent over a year’s worth of hard work but in the end be an absolute game changer for the company’s cash flow and valuation.

At this time, it is of the company’s opinion that the future looks very bright for Prairie West and its shareholders. Please check our website for future updates and contact us directly with any questions, comments or concerns you may have.

More detailed corporate and operational updates can be found here: http://www.prairiewestonline.com/update.htm

Unternehmensinformation / Kurzprofil:
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Bereitgestellt von Benutzer: irw
Datum: 21.06.2011 - 13:30 Uhr
Sprache: Deutsch
News-ID 30655
Anzahl Zeichen: 0

contact information:
Town:

Wien

Kategorie:

Business News

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