dragon man
16 years ago
Having recently announced that its fiscal 2008 revenue increased by 24% to $3,800,000, Striker Oil & Gas, Inc. (OTCBB: SOIS) should have investors monitoring the company's progress. Yesterday after the markets closed, the company, an upstream U.S. oil and gas company, issued a press release announcing that it has connected the Catfish Creek #2 to its recently completed pipeline gathering system and it is currently flowing gas and associated condensate to sales prior to stimulating (fraccing) the Pettit formation.
After the stimulation, the expectations are for a significant increase over the current flow rates. The well was completed in the Pettit formation with perforations at 10,435-10,438' and 10,448-10,458'.
Great news for the company! This prospect consists of over 12,800 gross acres with full development of this prospect potentially yielding 30 to 50 wells testing the Pettit and Rodessa formations. Striker has approximately 33% working interest before payout (25% after payout) on this prospect.
"We are happy that we have this well tied into our new gathering system and are very optimistic that the stimulation of this well will meet or exceed our expectations." said Kevan Casey, Chief Executive Officer of Striker.
"Future field plans will be to immediately begin stimulation operations on our Catfish Creek #1 well which has been flowing oil for over the past sixteen months un-stimulated and then follow that with the completion of our recently drilled Catfish Creek #3 well."
Last week the company also reported it has re-established production on its LeJeune #1 well in its North Edna prospect located in Jefferson Davis Parish, Louisiana, at an average daily rate of 71 barrels of oil per day.
According to that release, the North Edna prospect also has an additional well location that has been classified as a Proven Undeveloped Drilling (PUD) location and has been assigned gross reserves of 428,000 barrels split evenly between the PUD and Probable Undeveloped categories by our independent third party reserve engineers. This additional well is forecasted to be drilled in fiscal 2009 to a depth of approximately 9,000 feet to test several zones that have been previously identified in the prospect area.
Striker has a 25.9% net revenue interest in the initial well and an approximate 18% net revenue interest in any subsequent wells on the North Edna prospect.
The company previously reported that its fiscal 2008 revenue increased by 24% to $3,800,000 compared to the same period in 2007. The company missed its previous guidance of $5,000,000 due to a disruption in its production from both Hurricanes Gustav and Ike and also the significant drop in hydrocarbon prices; however, the company has since restored production and does not anticipate any further issues caused by the previous hurricanes.
Investors are urged to carefully monitor the progress of this company!
dragon man
16 years ago
Wall Street News Alert: Hot Stocks to Watch: SOIS! January 30, 2009
WESTON, FL -- (Marketwire) -- 01/30/09 -- Wall Street News Alert's "stocks to watch" this morning are: Striker Oil & Gas, Inc. (OTCBB: SOIS), Gold Fields Limited (NYSE: GFI), Western Digital Corp. (NYSE: WDC) and Sepracor Inc. (NASDAQ: SEPR).
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With 2008 financial numbers announced this week, and additional news just released, Striker Oil & Gas, Inc. (OTCBB: SOIS) should have investors monitoring this stock. Yesterday after the markets closed, the company, an upstream U.S. oil and gas company, issued a press release announcing that it has re-established production on its LeJeune No. 1 well in its North Edna prospect located in Jefferson Davis Parish, Louisiana at an average daily rate of 71 barrels of oil per day.
According to the release, the North Edna prospect also has an additional well location that has been classified as a Proven Undeveloped Drilling (PUD) location and has been assigned gross reserves of 428,000 barrels split evenly between the PUD and Probable Undeveloped categories by our independent third party reserve engineers. This additional well is forecasted to be drilled in fiscal 2009 to a depth of approximately 9,000 feet to test several zones that have been previously identified in the prospect area.
Striker has a 25.9% net revenue interest in the initial well and an approximate 18% net revenue interest in any subsequent wells on the North Edna prospect.
The company previously reported that its fiscal 2008 revenue increased by 24% to $3,800,000 compared to the same period in 2007. The company missed its previous guidance of $5,000,000 due to a disruption in its production from both Hurricanes Gustav and Ike and also the significant drop in hydrocarbon prices; however, the company has since restored production and does not anticipate any further issues caused by the previous hurricanes.
In Tuesday's press release, Kevan Casey, Chief Executive Officer of Striker, stated, "Although 2008 proved to be a very challenging year, we are pleased that we were still able to achieve positive revenue growth over the previous year. We will continue to focus on our Catfish Creek Prospect and believe this will be the main factor in our continued growth for 2009."
Investors are urged to carefully monitor the progress of this company!
SOIS closed yesterday at around Six cents a share.
For an in-depth profile of Striker Oil & Gas, visit http://www.WallStreetNewsAlert.com/HotStocks/SOIS012909/default.aspx.
In case you are not familiar with the company: Striker Oil & Gas, Inc. is an upstream U.S. oil and gas company. The company is engaged in the search for and sale of oil and gas reserves through both exploratory drilling and the acquisition of producing properties. Striker's objective is to cost efficiently develop these properties and market the oil and gas production at the wellhead. Striker is strategically focused along the Texas Gulf Coast, East Texas and South Louisiana in areas of developed infrastructure and established markets.
Seminole Red
16 years ago
Striker Oil & Gas Announces It Has Re-Established 71 Barrels Per Day Gross Production on Its LeJeune Well
01/29 4:30 am (BUS)
Striker Oil & Gas, Inc. (OTCBB: SOIS) announced today that it has
re-established production on its LeJeune No. 1 well in its North Edna
prospect located in Jefferson Davis Parish, Louisiana at an average
daily rate of 71 barrels of oil per day.
The North Edna prospect also has an additional well location that has
been classified as a Proven Undeveloped Drilling (PUD) location and
has
been assigned gross reserves of 428,000 barrels split evenly between
the
PUD and Probable Undeveloped categories by our independent third party
reserve engineers. This additional well is forecasted to be drilled in
fiscal 2009 to a depth of approximately 9,000 feet to test several
zones
that have been previously identified in the prospect area.
Striker has a 25.9% net revenue interest in the initial well and an
approximate 18% net revenue interest in any subsequent wells on the
North Edna prospect.
The company previously reported that it had increased its fiscal 2008
revenue by 24% to $3,800,000 compared to the same period in 2007. The
company missed its previous guidance of $5,000,000 due to a disruption
in its production from both Hurricanes Gustav and Ike and also the
significant drop in hydrocarbon prices however the company has since
restored production and does not anticipate any further issues caused
by
the previous hurricanes.
About Striker Oil & Gas
Striker Oil & Gas, Inc. is an upstream U.S. oil and gas company
headquartered in Houston, Texas and traded on the Over-the-Counter
Bulletin Board (SOIS.OB). The company is engaged in the search for and
sale of oil and gas reserves through both exploratory drilling and the
acquisition of producing properties. Striker???s objective is to cost
efficiently develop these properties and market the oil and gas
production at the wellhead. Striker is strategically focused along the
Texas Gulf Coast, East Texas and South Louisiana in areas of developed
infrastructure and established markets. For information please visit
www.strikeroil.com
Safe Harbor Statement
This press release contains statements that may constitute
forward-looking statements, including the company???s ability to
successfully acquire oil and gas properties and drill commercial
wells.
These statements are based on current expectations and assumptions and
involve a number of uncertainties and risks that could cause actual
results to differ materially from those currently expected. For
additional information about Striker???s future business and financial
results, refer to our Quarterly Reports on Form 10-QSB, our Annual
Report on Form 10-KSB and the other filings we make with the
Securities
and Exchange Commission. Striker undertakes no obligation to update
any
forward-looking statements that may be made from time to time by or on
behalf of the company, whether as a result of new information, future
events or otherwise.
Striker Oil & Gas, Inc., Houston
Kevan Casey,
713-402-6700
Investors@strikeroil.com