WSCE - Wescorp Energy - $0.40
MC: 35.91M EV: 29.19CR: 0.12 Rev: 0.64
PE: -6.58 BVPS: -0.10
In the News:
In addition to acquiring the new Medicine Hat Alberta disposal site facilities, Cancen also purchased an oil services company that provides 70% of its annual volume and secured a contract to remediate class II water disposal wells in the area. The Medicine Hat operation is in full production. It is currently anticipated Cancen will require one H20 Maxx and one HCXT unit for water and oil solids remediation from Wescorp.
Under the terms of the 50:50 joint venture agreement announced on
"The Wescorp-Cancen joint venture is, gaining momentum" commented
About Wescorp
Wescorp Energy Inc. (www.wescorpenergy.com) is an oil and gas operations solutions company focused on commercializing technologies that overcome tough operational challenges facing oil and gas operators today.
Wescorp shares currently trade on the NASD.OTC Bulletin Board under the symbol "WSCE".
- Source: Google Finance
PPTO - Precision Petroleum Corp. - $0.193
MC: 8.57M EV: 5.83 CR: 0.54
In the News:
Precision Petroleum Corporation (OTCBB: PPTO) (the "Company") is pleased to announce that it has purchased 58.375% of the Thompson No. 2 well located in Garvin County Oklahoma. Thompson No. 2 is currently producing from the Viola Lime hydrocarbon-structure.
Richard Porterfield, President, advises that the Company will proceed with an immediate remedial work-over on the Thompson No. 2 well. This work-over involves a cement squeeze on a lower formation which will in fact prevent salt water from entering the Viola reservoir.
Porterfield, a Petroleum Engineer, stated that this intrusion from a non productive formation has a major impact on the production capacity. He further stated that the cement barrier will allow the Thompson No. 2 well to produce from the Viola which previously had a very promising production capacity.
Oil production should increase 2 to 3 fold with this procedure. Other Thompson wells in adjacent leases have produced in excess of 22,000 bbls. These adjacent wells have not been subjected to the salt water intrusion encountered in number 2.
Precision Petroleum continues to evaluate all of its 19 leases in Oklahoma and will embark on recovery maximization of this oil and gas reservoirs with the application of superior production techniques and engineering solutions.
Precision Petroleum Corporation is an independent energy company engaged in the acquisition, exploration and development of oil and natural gas properties in North America. Precision's objective is to seek out and develop opportunities in the oil and natural gas sectors that represent a low risk opportunity. As well, Precision aims to define larger projects that can be developed with Joint Venture Partners. More information about the company is available at; www.precisionpetroleumcorp.com.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company does not intend to, and undertakes no duty to, update any such forward looking statements to reflect the impact of circumstances or events that arise after the date such forward looking statements were made.
Contacts: Precision Petroleum Corporation 1-405-273-9779 info@precisionpetroleumcorp.com www.precisionpetroleumcorp.com - Source: Google Finance
