Prairie Oil & Gas Announces Successful Well Exploration.CALGARY, Alberta -- Prairie Oil and Gas Inc. today announced that its first participation in an exploratory well has proven successful. The OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). symbol for Prairie Oil and Gas Inc. is "PRAO PRAO Personnel Research Activity Office (Navy) " (OTC: PRAO.PK). Prairie Oil and Gas "PRAO" has entered into a Joint Venture with Emerald Bay Bodies of water
v. twined, twin·ing, twines v.tr. 1. To twist together (threads, for example); intertwine. 2. To form by twisting, intertwining, or interlacing. 3. field of South Central Alberta Central Alberta (also named Alberta's Heartland) is a region located in the Canadian province of Alberta. Central Alberta is the most densely populated rural area in the province. Agriculture and energy make up an important part of the economy. . The well was successfully drilled and cased to a depth of 1617 meters. The two lower zones, Pekisko and Ostracod formations, have been tested and show good pressure response and flow rates typical of producers in the area. Further up hole, Viking and Glauconite glau·co·nite n. A greenish mineral of the mica group, a hydrous silicate of potassium, iron, aluminum, or magnesium, (K,Na)(Al,Fe,Mg)2(Al,Si)4O10(OH)2 zones have yet to be tested, however both intervals show strong indications of hydrocarbon potential. The companies have completed all pipeline right of ways and are near completion of the 3.0Km pipeline to its tie-in point. We anticipate announcing the completion of the tie-in shortly, as well as the production forecast for the well. Prairie is very pleased with the progress of its first project as a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. and believes the potential for the company and its shareholders will be substantial. Please visit www.PrarieOilAndGas.com for additional information, and join the company's mailing list for future developments. ABOUT PRAIRIE OIL AND GAS: Prairie Oil and Gas is a start-up energy company engaged in the exploration, acquisition, and development of crude oil and natural gas in Western Canada and the United States. Based in Calgary, Alberta, the company's aim is to continuously add value through the acquisition and development of both mature and immature properties while focusing on profitability and short term result. By utilizing a multi-discipline approach, Prairie's experienced staff will unlock the upside potential Upside potential The amount by which analysts or investors expect the price of a security may increase. upside potential The potential price or gain that may be expected in a security or in a security average, generally stated as the dollar of acquired properties leading to increased production and incremental reserves. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. This press release contains or may contain "Forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934 regarding the Company's growth, profitability, strategy, liquidity, access to public markets, operating expense Operating Expense The essential things that a company must purchase in order to maintain business. Notes: For example, the payment of employees wages are an operating expense. Also known as OPEX. reduction, and trends in the industry in which the Company operates. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions on future events or performance are not statements of historical fact and may be 'forward-looking statements. 'Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this action may be identified through the use of words such as "expects", "will", "anticipates", "estimates", "believes", or statements indicating certain actions "may", "could" or "might" occur. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties, assumptions or prospective events that may have a retroactive affect on the company's current and future standing. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion