Petron Energy II, Inc. Reports on LaNina and Covenant Wells from its Edward Leases in Oklahoma
Dallas, TX (PRWEB) October 23, 2013 -- Petron Energy II, Inc. (“Petron II” or the “Company”) (OTCBB: PEII) Petron Energy II, Inc. Reports on LaNina and Covenant wells from its Edward Leases in Oklahoma.
Petron Energy II, Inc., together with its subsidiaries, engages in the acquisition and development of properties for the production of crude oil and natural gas, the transportation of natural gas through its pipeline subsidiary and well servicing through its servicing subsidiary. The Company’s operations are based in the United States.
Floyd Smith, President and CEO of Petron Energy II, Inc., states "In our September 24, 2013 press release we stated, “The company had tentatively scheduled fracture stimulation treatment for the LaNina and Covenant wells for mid September, and due to scheduling delays on the part of our fracture stimulation contractor we were unable to meet the mid September timeline. Smith further stated, “Our contractor informed us that they are running 3-4 weeks behind in their scheduling.”
Smith goes on to say, “We are very pleased to announce that on October 17, 2013 we successfully performed an acid stimulation treatment on the Misner sandstone in the LaNina #2 well. We installed a pump jack on the well and began production operations Friday afternoon.. We have been monitoring the fluid produced from the well to determine if there is an oil cut. The LaNina #2 well began to show an oil cut on Saturday, we will continue to monitor the wells progress and provide further updates in the next few days. The Covenant #5 and the Gerner #2 wells are scheduled to be fracture stimulated in the Dutcher sandstone on October 29, 2013. The company will report updated production news for all wells as soon as results are available.”
About Petron Energy II, Inc.:
Petron Energy II, Inc. is a Dallas-based, oil and gas exploration and production company. For further information about the Company, please visit our website http://www.petronenergyii.com.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" (statements which are not historical facts) made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations rather than historical facts and they are indicated by words or phrases such as "anticipate," "could," "may," "might," "potential," "predict," "should," "estimate," "expect," "project," "believe," "plan," "envision," "continue," "intend," "target," "contemplate," or "will" and similar words or phrases or comparable terminology. We have based such forward-looking statements on our current expectations, assumptions, estimates and projections. While we believe these expectations, assumptions, estimates and projections are reasonable, such forward- looking statements are only predictions and involve known and unknown risks and uncertainties, and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, many of which are beyond our control. These factors include, but are not limited to, the time to consummate the proposed development, completion and extraction; the timing and extent of changes in market conditions and prices for natural gas and oil; the timing and extent of the Company's success in discovering, developing, producing and estimating reserves; the economic viability of, and the Company's success in drilling, the Company's ability to fund the acquisition, development, completion and extraction of oil and gas assets and the Company's planned capital investments; the Company's future property acquisition or divestiture activities; increased competition; and any other factors listed in the reports the Company has filed and may file with the Securities and Exchange Commission. Investors are cautioned not to place undue reliance on these forward-looking statements, which reflect the Company's expectations only as of the date they were made. The Company undertakes no obligation to update or revise any forward-looking statements to reflect new information or the occurrence of unanticipated events or otherwise.
Floyd Smith, Petron Energy II Inc, +1 972-272-8190, [email protected]
Share this article