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Last Post: 10/31/2014 10:43:48 AM - Followers: 89 - Board type: Free - Posts Today: 1

Ibox by Wealthyking

 

http://www.nitropetroleuminc.com

Our business strategy is to acquire interest in the properties of, and working interests in the production owned by, established oil and gas production companies, whether public or private, in the United States oil producing areas.    We believe such opportunities exist in the United States. We also believe that these opportunities have considerable future potential for the development of additional oil reserves. Such new reserves might come from the development of existing but as yet undeveloped reserves as well as from future success in exploration.

When and if funding becomes available, we plan to acquire high-quality oil and gas properties, primarily "proven producing and proven undeveloped reserves."  We will also explore low-risk development drilling and work-over opportunities with experienced, well-established operators.


Nitro Petroleum Share Structure a/o Nov 1, 2012
Authorized shares = 20 million
Outstanding shares = 2,074,242
* Pacific Stock Transfer                     (702) 361-3033        








Recent news

Quinlan Project Update
Aug 20, 2012
OTC Disclosure & News Service

Shawnee, OK -

Share Holders,
 We apologize for the reporting delay on results for theQuinlan project. The delay was primarily due to dry weather conditions, whichcaused a wild fire on the Quinlan lease causing some damage. We are pleased toreport that the Quinlan lease has been restored and is producing. The last wellcame online on 8/10/2012 at 3:00p.m. The wells are currently producingapproximately 40 to 42 BOPD. We are still waiting for the Quinlan #1 tostabilize. We believe once the Quinlan #1has stabilized, the production for thelease could increase to approximately 50 to 55 BOPD.

 
Current Production
 
Quinlan #1 Well = 6 BOPD x 21% W.I. = 1.26 BOPD
Quinlan #2 Well = 19 BOPD x 39% W.I = 7.41 BOPD
Quinlan #3 Well = 17 BOPD x 49% W.I. = 8.33 BOPD

 
The company is estimating that our monthly cash flow will improve by approximately $45,900 per month from the Quinlan wells.  The company is now preparing to move to ournext project, the drilling of the Branch #1 well. The company is very excited about this drilling prospect. The well could add substantial reserves and could possibly double or triple the company cash flow.
Again we apologize for the delay on this update.

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

http://www.otcmarkets.com/stock/NTRO/news/Quinlan-Project-Update?id=51516&b=y




SHAWNEE, OKLAHOMA, Jun 06, 2012 (MARKETWIRE via COMTEX) -- Nitro Petroleum Inc. (OTCBB: NTRO) is pleased to announce that we have completed the Quinlan project. We are currently producing approximately 38 BOPD. The company will continue to evaluate and make the necessary adjustments to improve the oil and water ratios. The company expects the production rate to stabilize in the range of 55 to 60 BOPD. Nitro petroleum Inc. currently owns 21% in the Quinlan #1, 49% in the Quinlan #2 and 39% in the Quinlan #3. We will keep you advised of all progress. Contacts: 
Nitro Petroleum Incorporated 
 (405) 279-9119 
 (405) 273-9889 (FAX) 

http://www.otcmarkets.com/stock/NTRO/news 

SHAWNEE, OKLAHOMA, Jun 06, 2012 (MARKETWIRE via COMTEX) -- Nitro Petroleum Inc. (OTCBB: NTRO) is pleased to provide the company's first quarter financials ending April 30, 2012 for your review. The company had a profit for the first quarter and the management is estimating the second quarter will improve primarily due to the Quinlan Project being completed. 
To view the Financial Statements, please click the following link:  http://media3.marketwire.com/docs/NitroFinancials.pdf. 

Contacts: 
Nitro Petroleum Incorporated 
 (405) 273-9119 
 (405) 273-9889 (FAX) 


SOURCE: Nitro Petroleum Incorporated 
Copyright 2012 Marketwire, Inc., All rights reserved. 


For the fiscal year ended January 31, 2012. The Company had revenue of $533,077 from the production of Oil and Gas, as compared to $144,112 for the fiscal year ended January 31, 2011. 
The twelve months ended January 31, 2012; the Company has increased its revenue by 369% compared to the twelve months ending January 31, 2011. 

Operational expenses for the twelve months ending January 31, 2012 was $531,323 resulting in a net loss for the period of $296,588. Operational expense for the twelve months ending January 31, 2011 was $761,483 resulting in a net loss for the period of $536,216. 
The twelve months ended January 31, 2012; the Company has reduced its operating expenses by 30.2%. 
We are currently having the Company's oil and gas reserves evaluated and we will announce the results soon. 
This is a very exciting time for Nitro Petroleum Inc., as we believe this year the Company will be in a positive cash flow status, and in addition the company has three additional re-completion opportunities and a drilling prospect that it is to start this year. Thanks you for your continued support. 


Ward/McNeil No. 1 Oil Well - Located in Garvin County, Oklahoma

Ward/McNeil No. 1 oil well located in the NW/4 of Section 27, T3N-R1W, Garvin County, Oklahoma. The well was initially completed in the Basal Pennsylvanian Sandstone/Viola Limestone formations after a minor fracture treatment resulting in only a modest 189 barrels of oil accumulated becoming evident that a larger fracture treatment will be necessary to substantially increase the production from these reservoirs. This well as of 2011 has been brought back on line in order to quickly recover the investment and establish a profitable well.

OKLAHOMA CITY, OKLAHOMA--(Marketwire - March 14, 2011) - Nitro Petroleum Incorporated (OTCBB:NTRO) -

Interim well report; The McNeil #1 well is now averaging 12 -14 BOPD and 40 -45 MCF per day. The well is still flowing back from the frac job with 2,500 bbls of frac water recovered from the 4,000 bbl initial frac load at a flow back rate of 60 BBL of salt water and frac fluid and flowing oil up the back side. As we are recovering the frac fluid and salt water this well should continue to keep increasing in oil and gas as we continue to pump well. We should be producing approximately 25 to 40 bbls of oil and 100 + MCF of gas.












 

 
Quinlan No. 1 - Located in Pottawatomie County, Oklahoma.


Thompson No. 1 Well

Quinlan No.1 located on teh NW/4 of Sec 19. T11N-R5E, Pottawatomie County, Oklahoma.
A five year producer from the Hunton Limestone reservoir, this lease has been a steady producer with a total cum as of 6-1-09 of 12,530 barrels of oil with a per month average in excess of 200 barrels of oil.


Nitro recently completed rework on the Quinlan No.1 which is now producing 7-8 BOPD ; after repairs to the casing NTRO expects production to increase to 15-20 BOPD


Quinlan No. 2 Oil Well - Located in Pottawatomie County, Oklahoma.

Quinlan No. 2 well located in the NW/4 of Section 19, T11N-R5E, Pottawatomie County, Oklahoma. The Quinlan No.2 well is completed in the Viola Limestone formation which is in the Northeast Shawnee Field adjacent similar Viola completions. This field is also known for its lucrative Hunton Limestone production. This well is now producing 18-20 BOPD.

 


Quinlan No. 3 Oil Well - Located in Pottawatomie County, Oklahoma.

Quinlan No.3 oil well located in the NW/4 of Section 19, T11n-R5E, Pottawatomie County, Oklahoma. This is adjacent well to the Quinlan No.'s 1 and 2 which Nitro Petroleum owns 85% interest. This well is producing 3-5 BOPD. Nitro plans to install a submersible lift pump which they expect will increase this well's production to 30-45 BOPD


Future estimated Production from Quinlan Project: 63-85 BOPD 
Future Total 63-85 bopd Avg. Est. @ $105 = 205k-276k per month 


Crown Lease - Located in Pottawatomie County, Oklahoma.
Crown lease in Pottawatomie County, Oklahoma is recent acquisition and provides oil production and a drilling prospect. This lease has two producting wells with one of the wells having produced approximately 64,000 barrels of oil and an approved salt water dispocal well. The existence of a SWD well is critical in order to maintain oil production
Nitro Petroleum has acquired additional interest of 88.75% and plans to rework these wells in the future. 


Thompson No. 1 WellThompson No. 1 Well
 



Nitro Petroleum Share Structure a/o Nov 1, 2012
Authorized shares = 20 million
Outstanding shares = 2,074,242
* Pacific Stock Transfer                 (702) 361-3033         

THE FOLLOWING ARE PROVED DEVELOPED 2011 AND UNDEVELOPED RESERVES
2011 OIL RESERVES ARE UP TO 79,766 BBLS OVER 16,250 FROM 2010  - Representing an increase of 490%
2011 GAS RESERVES ARE UP TO 89,098 MCF OVER 28,959 FROM 2010  - Representing an increase of 307%

79,766 BBLS = +8 Million dollars at current oil prices



ITEM 2.   PROPERTIES
 
Oil and Natural Gas Reserves
 
The information below is derived from a reserve report prepared by Ramsey Property Management LLC.  Copies of the summary reserve report are attached as an exhibit to this annual report.
 
To determine our estimated proved reserves, and as required by the SEC, we used the 12-month unweighted arithmetic average of the first-day-of-the-month price for the months of February 2010 through January 2011 calculated to be $4.60 per Mcf of natural gas and $78.42 per Bbl of oil. These prices were held constant for the life of the properties and adjusted for the appropriate market differentials.

This Represents an increase of 530% over 2010 !!!

 

http://globaldocuments.morningstar.com/DocumentLibrary/Document/1ec41d833e151c889d5e1938490c572c.msdoc/original/nitroexh991.htm







http://marketbrief.com/igmc/10k/annual-report/2011/8/18/8986796/filing

To the Board of Directors and
Stockholders of Nitro Petroleum, Inc.
624 W. Independence, Suite 101
Shawnee, OK 74804
 
We have audited the accompanying balance sheets of Nitro Petroleum, Inc. as of January 31, 2011 and 2010, and the related statements of operations, stockholders' equity (deficit), and cash flows for the years then ended. Nitro Petroleum, Inc.'s management is responsible for these financial statements. Our responsibility is to express an opinion on these financial statements based on our audits.
 
 
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Nitro Petroleum, Inc. as of January 31, 2011 and 2010, and the results of its operations and its cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America.

 
**Cash Flow and Reserves 2011**
Nitro's Cash flow is expected to increase 500%

  •  
  • Total developed reserves of Approximately $20 million
  • Numerous new well locations for developmental drilling
  • Quinlan Project underway : expected revenue to exceed 120k per month cash flow 




Link to News and SEC filings

http://www.nitropetroleuminc.com/news/

http://www.otcmarkets.com/stock/NTRO/news

http://sec.gov/cgi-bin/browse-edgar?company=&CIK=0001285236&action=getcompany

http://marketbrief.com/igmc/10k/annual-report/2011/8/18/8986796/filing



MANAGEMENT

James Borem- President and CFO
James Borem has a most impressive forty year history in the administration sectors of the petroleum industry. His arena of experience includes, petroleum valuations and development, financing,
budgeting, marketing, materials procurement and risk management. A summary of Mr. Borem's employment includes senior management positions with Sun Oil, Eastern Pipeline Company, Andover Oil Company, Vintage Petroleum, Latex Resources, Double Eagle Petroleum and Comanche Energy. Mr. Borem is at present the President of two private oil and gas service and production companies in Oklahoma. His vast background in oil and gas administration and finance will instill a substantial asset to the management structure of Nitro.

Larry Wise- Director and Head of Field Operations
Larry Wise worked as a Junior Field Engineer with Phillips 66 Petroleum Company 1977-1979. From 1979-1982 he worked for Jerry Scott Company as Completion Superintendent overseeing 14 drilling rigs and over 300 producing properties; 1982-1988 with JOMC Oil Co; 1988-1993 with Texas United Petroleum and 1993-1999 with Pottawatomie County Energy serving as President, Fund Raiser and Chief Operating Officer for all three companies. From 1999 through to 2006 he operated Wise Oil and Gas Company, LLC and served as an independent Engineering Consultant responsible for all operations of Morris E. Stewart Oil Company, OKC, Ok., Kirrie Oil Company, OKC, Ok., HoCo, Inc. Oil Company, Wichita Falls, TX., and Buccaneer Energy 
  Corporation, Tampa Bay, FL

Gunther J. Weisbrich- Board of Directors
Mr. Weisbrich graduated with a Master's in Geology from Boston College and a Bachelor of Science-Geology at Susquehanna University in Selinsgrove, Pennsylvania. Mr. Weisbrich was a Production Geologist with Exxon Company, USA in Louisiana and a Senior Exploration Geologist with Hunt Oil Company Dallas, Texas. Gunther was also a Senior International Exploration Geologist for Yemen Hunt Oil Company/ Jannah Hunt Oil  Company. Exploration successes included the discovery and appraisal of the following fields: Al Nasr (120 MMBO), Dhahab (40 MMBO), Jabal Habah (241 BCFG), Wadi Bana (80 BCFG and 16 MMBO). Mr. Weisbrich received BEST POSTER AWARD at the 1994 Mexico City, Joint AAPG/AMPG research conference.



Contact Information
7250 NW Expressway
Suite 260
Oklahoma City, OK 73132
Website: http://www.nitropetroleuminc.com
Phone: 405.273.9119

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NTRO Barchart Opinion   http://www.barchart.com/opinions/stocks/NTRO
 


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PostSubject
#6493   NTRO will not be transfered myke2 10/31/14 10:43:47 AM
#6492   When is NTRO stock supposed to be transferred PetroTech 09/22/14 03:24:22 PM
#6491   No doubt myke2 09/12/14 09:06:16 AM
#6490   Freaking ridiculous! Fkn crooks! Yeah I'm PetroTech 09/11/14 01:47:02 PM
#6489   They should have never agreed to make James PetroTech 09/04/14 04:36:56 PM
#6488   Reading the Core Q its a wonder what ErnieBilco 09/04/14 02:17:24 PM
#6487   They sure do try and make their news PetroTech 09/04/14 12:33:40 PM
#6486   Core Resource Management, Inc. and Nitro Petroleum, Inc. ErnieBilco 09/03/14 08:55:39 PM
#6485   Don't Sell less than .35/share. CRMI is only PetroTech 08/12/14 10:28:36 AM
#6484   I'm not letting this stock go for less PetroTech 08/12/14 09:50:20 AM
#6483   Article: Core Resource to Acquire Nitro http://money.cnn.com/news/newsfeeds/arti PetroTech 08/11/14 03:21:53 PM
#6482   Don't Sell less than .30/share. CRMI is only PetroTech 08/11/14 02:55:12 PM
#6481   CRMI Core Resource Management is acquiring NTRO. For PetroTech 08/11/14 01:38:26 PM
#6480   Nitro to be Aquired! PetroTech 08/11/14 01:18:05 PM
#6479   NTRO working it's way back up to .40/share soon. PetroTech 08/01/14 07:49:14 PM
#6478   I believe so. NTRO isn't going to go PetroTech 06/27/14 01:24:24 PM
#6477   Myke2 was right all along. cdh68 06/24/14 04:45:40 PM
#6476   I call for nitro to make the right PetroTech 06/24/14 10:16:49 AM
#6475   Myke that must be you driving up the PetroTech 05/30/14 03:58:42 PM
#6474   I agree. I am washing my hands PetroTech 05/19/14 02:14:26 PM
#6473   right, keep on hoping! myke2 05/19/14 01:00:31 PM
#6472   I hope Big O would buyout Nitro an PetroTech 05/19/14 10:38:03 AM
#6471   Well as you can see from the filing myke2 05/16/14 05:19:26 PM
#6470   Myke, what is up with the high volume? PetroTech 04/24/14 02:12:33 PM
#6469   Is there not anybody working at Nitro? PetroTech 04/23/14 11:05:55 AM
#6468   I remember reading a filing a couple years ge161741 03/02/14 06:08:03 PM
#6467   What ever you think, market cap already at 3.5mil myke2 02/24/14 11:32:32 AM
#6466   Maybe they are trying to get the price PetroTech 02/20/14 03:33:58 PM
#6465   No insider trading going on at Nitro myke2 02/19/14 01:23:39 PM
#6464   Nitro Petroleum Inc.: Elmo 2 Update myke2 01/24/14 04:49:02 PM
#6463   Almost guys myke2 01/15/14 09:30:57 AM
#6462   Re Borem & NTRO -- check Yahoo Finance pocoru 01/09/14 10:02:28 AM
#6461   Re Borem & NTRO -- check Yahoo Finance pocoru 01/09/14 10:02:01 AM
#6460   Why is Jim Borem still posting news about PetroTech 01/08/14 04:15:42 PM
#6459   Why would anyone pay a fee to sell/purchase PetroTech 01/03/14 04:36:45 PM
#6458   Wow, the market is trying to correct itself myke2 01/03/14 09:46:52 AM
#6457   OH NO MR BILL!!!!!!!!!!!!!! myke2 12/31/13 09:12:55 AM
#6456   Good for you, I would wait for the myke2 12/27/13 12:47:16 AM
#6455   NTRO made changes to get the company where PetroTech 12/26/13 08:39:13 PM
#6454   No NTRO is overvalued myke2 12/26/13 01:58:15 PM
#6453   Where is Nitro headed in 2014? $1 imo PetroTech 12/20/13 11:22:42 AM
#6452   Nice Mr Bill news .. we'll see what developes The_Edge 12/18/13 10:56:46 AM
#6451   Great Nitro News on Giant 2-21 SHAWNEE, OKLAHOMA, Oct PetroTech 10/30/13 10:22:52 AM
#6450   Nitro News SHAWNEE, OKLAHOMA, Oct 16, 2013 (Marketwired via PetroTech 10/22/13 12:35:12 PM
#6449   This company is definitely moving forward to succeed. PetroTech 10/22/13 10:24:24 AM
#6448   NTRO now pumping oil and posting revenue.... Ronda 10/21/13 08:59:39 AM
#6447   Performance is poor in my opinion. Oil revenues elkonig 09/23/13 05:05:24 PM
#6446   More News on the drilling of Giant #2-21. PetroTech 09/23/13 10:13:53 AM
#6445   NTRO News - Sep 20, 2013 (MarketLine via PetroTech 09/20/13 12:04:16 PM
#6444   Has anyone read the quarterly 10-q released on PetroTech 09/17/13 02:18:39 PM
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