DGAP-News: FIRST NEWGATE PETROLEUM RESOURCES CORP LTD COMPANY UPDATE
(firmenpresse) - DGAP-News: First Newgate Petroleum Resources Co. Ltd. / Key word(s):
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FIRST NEWGATE PETROLEUM RESOURCES CORP LTD COMPANY UPDATE
10.10.2011 / 19:03
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For Immediate release
FIRST NEWGATE PETROLEUM RESOURCES CORP LTD COMPANY UPDATE
Oct. 10, 2011
First Newgate Petroleum Resources Corp. Ltd., an Ontario, Canada Company,
and the CEO/CFO are pleased to announce that the Company has been granted
the new trading symbol FNS:GR on the Frankfurt Open Market Segment, First
Quotation Board.
The Company is currently reviewing it's most recent acquisition, an 18 well
lease package in Texas, with 1 currently producing well, and up to 17 wells
with high prospects to be reworked and brought back into production. The
company's technical team is currently reviewing all available data to
determine the best route towards maximum recovery of the existing reserves.
The Company is also currently reviewing several other leases for possible
acquisition. Further news on this and other leases under consideration will
be announced at the appropriate time.
About: First Newgate Petroleum Resources Corp. Ltd.
Our mission is to acquire, develop, and exploit Oil&Gas reserves that are
producing and/or previously producing Oil fields located in the USA&Canada. We strive to increase proven domestic reserves, we do this by
exploring new fields and revisiting previously drilled areas to discover
them anew with advanced technology. There is over 217 billion barrels of
oil still in the Ground in USA, and with the new technology available, we
expect be able to capture a good portion of the remaining oil in these past
producing fields.
As the need to protect precious resources increases, forward-thinking
companies such as First Newgate Petroleum Resources Corp. Ltd. are
providing an economical approach to oil and gas reserves. Using
state-of-the-art technology, First Newgate Petroleum Resources Corp. Ltd.
selects only high quality prospects, increasing recovered resources per
each well.
Our mandate is to utilize North America's leading hydrocarbon asset
database to identify prematurely suspended Wells;
Put identified Wells back in to production using a variety of new
technologies;
Rework Wells in the fields that show substantial potential for increased
production.
We use powerful geological search tools to efficiently find gas&oil well
bore candidates. These geological and statistical analysis tools enhance
search efficiency by organizing viable well bore candidates by key
measurements. In this complex energy market, First Newgate Petroleum
Resources Corp. Ltd. is consistently developing oil and gas prospects that
have a solid geological foundation. We have assembled a team of regional
experts to evaluate our projects from inception to completion. By taking
advantage of technological innovations, we are strategically recovering
domestic oil and gas reserves.
H.B. Andrews CEO
Cautionary Note Regarding Forward-looking Statements
Certain statements contained in this news release may constitute
forward-looking information, within the meaning of Frankfurt Securities
laws. Forward-looking information may relate to this news release and other
matters identified in the Company's public filings, Forward-looking
information and anticipated events or results and can be identified by
terminology such as 'may', 'will', 'could', 'should', 'expect', 'plan',
'anticipate', 'believe', 'intend', 'estimate', 'projects', 'predict',
'potential', 'continue' or other similar expressions concerning matters
that are not historical facts and include, but are not limited in any
manner to, those with respect to capital and operating expenditures,
economic conditions, availability of sufficient financing, receipt of
approvals, satisfaction of closing conditions and any and all other timing,
development, operational, financial, economic, legal, regulatory and/or
political factors that may influence future events or conditions. Such
forward-looking statements are based on a number of material factors and
assumptions, including, but not limited in any manner, those disclosed in
any other public filings of the Company, and include the ultimate
availability and final receipt of required approvals, sufficient working
capital for development and operations, access to adequate services and
supplies, availability of markets for products, commodity prices, foreign
currency exchange rates, interest rates, access to capital markets and
other sources of financing and associated cost of funds, availability of a
qualified work force, availability of manufacturing equipment, no material
changes to the tax and regulatory regime and the ultimate ability execute
its business plan on economically favourable terms. While we consider these
assumptions to be reasonable based on information currently available to
us, they may prove to be incorrect. Actual results may vary from such
forward-looking information for a variety of reasons, including but not
limited to risks and uncertainties disclosed in other Company filings and
other unforeseen events or circumstances. Other than as required by law,
the Company does not intend, or undertake any obligation to update any
forward looking information to reflect, among other things, new information
or future events.
Neither the Frankfurt Exchange nor its Regulation Services Provider accepts
responsibility for the adequacy or accuracy of this release.
For more information on the Company please go to our website at
www.firstnewgatepetro.com
Or contact the company at info(at)firstnewgatepetro.com
End of Corporate News
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141865 10.10.2011
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Datum: 10.10.2011 - 19:03 Uhr
Sprache: Deutsch
News-ID 74324
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Kategorie:
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