Post by Hot Christian Stocks on Jun 11, 2014 17:47:50 GMT -5
Presenting
Petron Energy II, Inc
PEII is our Super Lotto Bounce Play for Thursday. Triple Zero stocks are known to be some of the most explosive movers on the OTC Exchange and PEII is no exception and is causing the market to stand up and take notice. The stock appears to be starting a bounce off of a bottom and out of an extremely oversold condition (RSI coming off of 30) If the volume continues we expect there to be significant gains for those that take advantage and get in early.
ABOUT THE COMPANY
Petron Energy II, Inc. is engaged primarily in the acquisition, development, production, exploration for and the sale of oil, gas and gas liquids in the United States. As of December 31, 2012 the Company is operating in the states of Texas and Oklahoma. The Company sells its oil and gas products primarily to a domestic pipeline and to another oil company.
The mission of Petron Energy II, Inc.
…is to create an asset base consisting of oil and gas properties in low risk areas with years of proven production history. The company will increase the value of its assets through acquisitions, drilling operations and reworking existing wells. They will concentrate their development efforts in Oklahoma and Texas where they presently have 5,000 acres under lease. These contain 93 existing wells which will require rework operations to attempt reestablishing commercial production.
Their strategy
…is to acquire assets in proven areas with multiple pay zones, manage development cost and take advantage of new technology to maximize daily production rates.
Their target market is the Woodford Shale in Northeast Oklahoma and the Tannehill Sand in Texas, each offer high success rates and the potential for long term cash flow.
SUBSIDIARIES
Petron Energy II Pipeline, Inc. is engaged primarily in the transmission of gas and gas liquids for its own wells and third party wells in the United States. As of December 31, 2012 the Company is operating in the state of Oklahoma. In addition, the Company owns two gas gathering systems located in Tulsa, Wagoner, Rogers and Mayes counties of Oklahoma, one of which is fully operational. The pipeline consists of approximately 132 miles of steel and poly pipe, a gas processing plant and other ancillary equipment.
Petron Energy II Well Service, Inc. is engaged primarily in Well Service operation for its own wells currently and expects to begin well service operations for third party operators in the future. As of December 31, 2012 the Company is operating in the states of Oklahoma and Texas. The Company owns all of its equipment used in the Petron Energy II Well Service, Inc.
TEXAS PROPERTIES
The company recently agreed to acquire approximately 2800 acres in Munday (Knox County) Texas, this property is comprised of 48 wells. The property has 34 of 48 existing wells capable of producing commercial quantities of oil. They are reviewing the property for further producing zones which may be available.
OKLAHOMA PROPERTIES
Petron purchased a 75% stake in approximately 1100 acres with 59 wells in Wagoner and Tulsa Counties, Oklahoma. They have 56 existing wells and 3 newly drilled wells. This acreage has 5 to 7 payzones, which are capable of producing oil, gas and or both commodities.
The company has purchased 75% equity stake in a 105 mile pipeline gas system, Petron Energy II Pipeline, Inc. The pipeline system extends from Wagoner County into Tulsa County Oklahoma. This system is critical to their development in the area because it provides them access to deliver their gas to market at minimal cost. They believe their ownership of the gas pipeline system will provide them opportunities to grow their acreage as they are the only transporter of natural gas in the area.
The company has also purchased a 75% stake in a second gas pipeline system, Petron Energy II TNT, Inc. This pipeline system extends 30 miles through Wagoner, Mayes, Rogers and Tulsa Counties Oklahoma. There were over 450+ wells drilled and tested in anticipation of the completion of this gas system. This system provides access to a natural gas market for them along with development opportunities for the company. Petron Energy II TNT pipeline is the only gathering system to transport natural gas the area.
Secondary Completion – Water/ CO2 Gasflood
In primary natural resource recovery, the initial approach to produce oil is generally via natural reservoir pressure or simple mechanical pumps used to raise oil to the surface. Most oil wells today have to be pumped. Primary oil recovery can only produce a small fraction of the oil in a reservoir. The need for secondary oil recovery methods arise from this fact. Waterflooding can be both effective and economical.
Secondary recovery of remaining oil from a proven reservoir can be obtained by injecting water/gas (‘water/CO2 gasflooding)’, to maintain reservoir pressure and push oil out of the rock. Prolonged oil production can be achieved effectively once the primary production has tapered off. This is called secondary recovery
A well planned oil field can go a long way toward the reliability and overall cost effectiveness of a water/CO2 gasflooding project. One method uses centrally located wells that, once primary and secondary production declines, will be used as injection wells.
These injection wells use water/CO2 gas to force the remaining oil reserves toward the extremities of the oil field. Increasing the viscosity of the water, allowing for drillers to gain ‘control’ over where the water flows. This allows for the introduction of water/CO2 gas into areas of the reservoir in which it naturally wouldn’t flow. By forcing water/CO2 gas into the crevices around an oil reserve, oil can be ‘moved’ toward the production zone. Such techniques can raise production on these outer wells to near initial production numbers as well as allow for the recovery of up to 80% of the remaining reserves.
Oil reservoirs suitable for secondary recovery projects have produced for several years. It takes time to inject sufficient water/CO2 gas to fill enough of the void spaces to begin to move the oil.
Thursday, May 29, 2014
Petron Energy II, Inc. Provides Update on its Knox County, TX ProjectGlobeNewswire( (Thu, May 29)
Wednesday, May 28, 2014
Petron Energy II, Inc. Announces Operational Update on its Snyder/Simon Secondary Recovery Project in OklahomaGlobeNewswire( (Wed, May 28)
Monday, May 12, 2014
Petron Energy II, Inc. Announces Final Completion Stage on its Snyder/Simon Secondary Recovery Project in OklahomaGlobeNewswire( (Mon, May 12)
Friday, May 9, 2014
Petron Energy II, Inc. Announces $10M Line of Credit is Approved and Plans for Use of ProceedsGlobeNewswire( (Fri, May 9)
Monday, April 14, 2014
Petron Energy II, Inc. Provides Update on its Secondary Recovery Operations in OklahomaGlobeNewswire( (Mon, Apr 14)
Thursday, March 20, 2014
Petron Energy II, Inc. Provides Update on Workover Procedures and Form S-1 FilingGlobeNewswire( (Thu, Mar 20)
PEII Headlines finance.yahoo.com/q/h?s=PEII+Headlines
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