Company Seeks to Expand Production Beyond 3,000 Mcf Per Day of Gas
December 13, 2004 (Press Release) --
Petrol Oil and Gas Prepares to Commence Drilling on Petrol-Neodesha Project
Company Seeks to Expand Production Beyond 3,000 Mcf Per Day of Gas
Petrol Oil and Gas Inc. (OTCBB: POIG) www.petroloilandgas.com announced today that it has filed fifteen new drilling permits and commenced related activities in preparation to begin a drilling program in the first quarter of 2005 on its recently acquired Petrol-Neodesha Project. Based upon current gas prices and production levels the property is anticipated to generate gross revenues of approximately $9.6 million for Petrol in 2005, which would equate to $0.15 per share operating cash flow solely from this property. Petrol has a 100% working interest in the property.
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Company Seeks to Expand Production Beyond 3,000 Mcf Per Day of Gas
Petrol Oil and Gas Inc. (OTCBB: POIG) www.petroloilandgas.com announced today that it has filed fifteen new drilling permits and commenced related activities in preparation to begin a drilling program in the first quarter of 2005 on its recently acquired Petrol-Neodesha Project. Based upon current gas prices and production levels the property is anticipated to generate gross revenues of approximately $9.6 million for Petrol in 2005, which would equate to $0.15 per share operating cash flow solely from this property. Petrol has a 100% working interest in the property.
Disclaimer: www.investorideas.com/About/Disclaimer.asp
Full News: www.investorideas.com/Companies/ViewDocument.asp?ID=2417
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