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More News on the drilling of Giant #2-21.
SHAWNEE, OKLAHOMA, Sep 23, 2013 (Marketwired via COMTEX) -- Nitro Petroleum
Inc. (OTCBB: NTRO) is pleased to announce that we have commenced drilling on the
Giant #2-21 well at 9:00 p.m. on September 19, 2013. We are estimating to reach
a total depth of approximately 6800 feet on or before October 10, 2013. We will
keep you advised of our progress. Nitro thanks you for your continued support.
Respectfully,
James Borem, President
Nitro Petroleum Inc.
NTRO News - Sep 20, 2013 (MarketLine via COMTEX) -- Nitro Petroleum Incorporated, which is
engaged in the acquisition, development, production, exploration and the sale of
oil, gas and natural gas liquids, has reported that net loss for the second
quarter ended July 31, 2013 was $17,864, or $0.01 loss per share, compared to a
net loss of $76,999, or $0.04 loss per share, for the same quarter ended July
31, 2012.
Revenues for the second quarter ended July 31, 2013 were $415,677, compared to
$178,488, for the same quarter ended July 31, 2012.
Net loss for the six months ended July 31, 2013 was $361,971, or $0.13 loss per
diluted share, compared to a net income of $59,367, or $0.03 per diluted share,
for the same period ended July 31, 2012.
Revenues for the six months ended July 31, 2013 were $538,169, compared to
$459,529, for the same period ended July 31, 2012.
Has anyone read the quarterly 10-q released on 9/16/2013? What are your thoughts as far as how Nitro is performing?
At least they are "Getting ready to..."
I thought Lanshe was the president of NTRO. When did Borem retake that position?
Nitro is making good progress! SHAWNEE, OKLAHOMA, Sep 05, 2013 (Marketwired via COMTEX -- Nitro Petroleum
Inc. (OTCBB: NTRO is pleased to announce that we have commenced preparations to
drill the Giant #2-21. Nitro is currently building the location. Nitro has
contracted Walker Brothers to drill the well and are estimating the start date
will be on Sept. 18 or 19. We will keep you advised of our progress.
Respectfully,
James Borem, President
Nitro Petroleum Inc.
I know it has been quiet for awhile but I have a feeling that NTRO is going to surprise us all with some good news soon.
I got out yesterday at a modest loss. Just figured there were better things to do with my money. GLTA
It's really really sad with US becoming major oil producer, Nitro gives them all a bad name! I believe, do to the greed and poor management of nitro it will not survive, I wish we could replace management and start producing some oil, recent hires touted big wall street accomplishment, but I believe they are not verified, I walked down wall street in Manhattan, I do not claim to say I'm a wall streeter. Just saying everyone blows their horn now days, and some get away with it, the proof is in the pudding wall street not interested in Nitro! no way
The entirely unnecessary RS did not help, but the recent fins were disappointing, as well. No interest.
Do you think that's because of the reverse split? Maybe its because for every dollar in revenue its actually costing this company 4 dollars to get the oil or gas out of the ground.
Beat this dead horse! Bam Bam still nothing!
Nitro is very poorly managed as you can see from the share price
and very thinly traded no hope for nitro, it is just a stock that trades a few times, and no real company behind it!
DO NOT INVEST IN NITRO YOU WILL LOSE MONEY!!
Just wondering, seems like people talked about NTRO quite often now not so much.
you might consider just giving up on the otc market. seems like you take it all a bit too much on pins and needles. trading down here is not for the faint of heart.
NTRO over the past 4 years has made steady and solid forward momentum. what more do you need?
i spoke to him after the tornadoes went through oklahoma to make sure he and his crew were okay. i have not called since.
NTRO released news a few weeks ago about production on their latest well doing 100bopd, i think thats fantastic news and i'm not sure what you are expecting but i think things are going along nicely for NTRO.
WeathyKing have you heard anything from Jim lately. It has been silent for far too long.
None that I am aware of. I fear this one may be dead.
If they didn't do the reverse split this would be at 0.0065. This company is losing about $115,000.00 per month so maybe the above PPS would be more appropriate. They have a cash on hand balance of $150,000.00 because of loans and share sales.
This company has been in business 10 years now and is still losing money.
Feb.2 2006 A.S. count increased from 110 MILLION to 400 MILLION.
Dec.15,2006 A.S. count increased from 400 MILLION to 2 BILLION. Oct.22, 2012 A.S. count reduced from 2 BILLION to 20 MILLION. There are 10 MILLION preferred as well which were added Feb.2,2006.
Yep. 220 million-ish
Actually, I think the OS at the time of the RS was a few hundred million, which as per my earlier statement, didn't seem that bad.
way wrong and deliberately misinforming the board. NTRO was nowhere near the 2 billion a/s issued before the R/S.
management has been very conservative with issuing shares and i think they have done so responsibly to date.
Looks like they at least drilled the Giant #1-21. Sent an email to Jim asking for an update on the well yesterday and have no response yet.
Results for 1 matches: Page: 1 of 1
Date: 4/15/2013 5:07:33 PM
Region: Texas Panhandle/Oklahoma
County/Parish: STEPHENS-OK
Operator Name: NITRO PETROLEUM INC.
Operator Address: 624 W. INDEPENDENCE, STE. 101, SHAWNEE, OK 74804
Operator Telephone: (405) 273-9119
Well Name: GIANT
Well Number: 1-21
Field Formation: NILES
Type of Well: (O/G) DRILL
Survey 1: 1890 FSL 1105 FWL, SEC 21-2N-8W
Survey 2:
Depth: 6700
Area (Distance from town):
API#: 35-137-27044
I have never bashed this stock, but the increase in OS is a typical stinkie-pinkie move after a massive RS that arguably never needed to take place. I also did not like the bottom line on the fins, but maybe I have misinterpreted things. JMHO
that was due to the reverse split, they were approaching the AS number so they had too. They have issued 3 times that number of shares back to 6 million and issuing many more, I wish they would work in the oil fields instead of managing and malipulating the share price, but thats all management knows how to do! They might think they are oilmen but they are idiots! and no nothing about oil, bring back the wise man!
If that is the case the 10-q that ended October 31,2012 there were only a little over 2,000,000 shares outstanding. That is an increase of 4,000,000 outstanding shares.
WOW evertime this slizzy management files a new report, has anyone watched the outstanding shares increase? I guess not, it is now 6,044,442 and was 5554692 that's 489,750 shares some slipped into their pocket! futher duliuting our shares!! wow you home gamers repost the news on here but you miss the big picture! the management are stealing from us investors, man I wish there was a law against corporate fraud, this sucks for investors, nitro shares should be trading at .15, thanks to the poor management padding their own companies and pockets, remember the days when CEO where good people, the might as well be politicians. Both are POC!
http://ih.advfn.com/p.php?pid=nmona&article=58003111
Nitro 10-q.Ending 4-30-13
If you go to the website below and put Nitro in the Operator Name then search the Giant #1-21 is listed on the 4th and 5th page. It has the same operator number as all the other Nitro listed wells.
http://www.occpermit.com/WellBrowse/
http://www.mineralhub.com/2013/06/stephens-county-4/
Still not sure if they own it, but from this site it looks like it.
Well I know this is a shell of a company, management have their own companies ran out of it, I haven't read anywhere that they own a Giant well; if anyone has the info please post! I believe they are servicing this well for someone else. Nitro still overvalued at 50 cents, this company is worth 1 million tops, the share duluition hasn't kicked in due to the lack of interest and volume.
BTW if managment comes from bigger companies and managed mutual funds and such on wall street, don't you think they would pull some interest into Nitro? This company deals in bs and is pretty poor at doing that!
While I share your concerns regarding lack of investor interest given the recent news, what makes you think that NTRO doesn't own the wells? Do you think they are posting this fraudulently?!
meanwhile....later on the ranch....Still no word on how much saltwater in being pumped and when the oil gusher will come....not to mention where they are going to put all the supposedly 100 bopd? And where are the investors, are they getting in on the side with a private placement that we will find out in the s filings next quarter, they have alot of Authorized shares to be dumping after the Reverse split little feasco! No volume no news Big trouble as usual with nitro under this management.
BTW... I have searched the reports, I don't see the giant well as being an asset of Nitro? very fishey to list news for it, without stating the benefits to Nitro, this explains everything.
Nitro back down to .05 cents, can't be any value to nitro if they don't own it.
This news is a "WOW" for Nitro and investors! It's definitely a buyers market right now.
NTRO market cap way undervalued. pps should be +2.00 imo
+100 bopd x $95 = 3.5 million a year in revs on this one well alone.
fantastic news today! goooo NTRO!!
Nitro News!
SHAWNEE, OKLAHOMA, Jun 11, 2013 (Marketwired via COMTEX -- Nitro Petroleum Inc. (OTCBB: NTRO is pleased to announce to its shareholders and partners that we have completed the drilling and logging of the Giant #1-21 Well located in Stephens County Oklahoma. Nitro Petroleum Inc. and Partners are extremely excited with the well log showings. The logs show approximately 190 feet of Sears Sand with no depletion. When Texaco discovered this field in 1960 the initial production rate for some of the offset wells were 600 to 800 BOPD and 2000 to 4000 MCFPD. Nitro Petroleum Inc. had originally estimated the Giant #1-21 well to produce 100 BOPD and 200 MCFPD, after reviewing the log results Nitro Petroleum Inc., expects to exceed the projected rates. Nitro Petroleum Inc. will continue to advise everyone of the progress.
Sincerely,
Nitro Petroleum Inc.
James G. Borem, Chairman/CEO
Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release constitutes forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to obtain any government or other regulatory approvals required to complete the private placement and Company's planned exploration activities, that the Company is able to complete the private placement, that the Company is able to procure personnel, equipment and supplies required for its exploration activities in sufficient quantities and on a timely basis and that actual results of exploration activities are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, that the private placement will not be completed, that actual results of the Company's exploration activities will be different than those expected by management and that the Company will be unable to obtain or will experience delays in obtaining any required government approvals or be unable to procure required equipment and supplies in sufficient quantities and on a timely basis. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Contacts:
Nitro Petroleum Inc.
James G. Borem
Chairman/CEO
405-273-9119
405-273-9889 (FAX
nitropetroleuminc@yahoo.com
SOURCE: Nitro Petroleum Incorporated
Nitro should be hitting TD soon if not already. They only had 800 more feet to go according to the latest news release this week. Things are looking GREAT for NTRO!
Repost the same news creative, any way, I think the news should be salt water before and oil will every come. This guy is an idiot, they will just dump more shares and the stock will go nowhere fast, nitro is a bust, and management is very poor
Good things are around the corner, as well as 5 bucks/share!
bam!! news! NTRO once again showing that forward progress and increased cash flow is innevitable. way to go Jim! i applaud you!
Nitro Petroleum Inc.: News Release Giant 1-21
Print
Nitro Petroleum Inc. (OTCBB:NTRO) announced that we were commencing drilling of the Giant # 1-21 well on May 22, 2013. The well is located in Stephen County, Oklahoma, Section 21, Township 2 North 8 West. Our target zone is the Upper and Lower Sears Sand at a proposed depth of 6,800 feet. We are currently at a depth of 6000 feet. We should be at our target zones within the next 24 hours.
Nitro conservatively estimates the well to produce 100 BBLS and 200 MCF per day. We will keep you advised of the progress.
Respectfully,
James Borem, President
Nitro Petroleum Inc.
Contacts:
Nitro Petroleum Inc.
James Borem
President
405-273-9119
405-273-9889 (FAX)
nitropetroleuminc@yahoo.com
Nitro News
SHAWNEE, OKLAHOMA, Jun 05, 2013 (Marketwired via COMTEX -- Nitro Petroleum
Inc. (OTCBB: NTRO announced that we were commencing drilling of the Giant #
1-21 well on May 22, 2013. The well is located in Stephen County, Oklahoma,
Section 21, Township 2 North 8 West. Our target zone is the Upper and Lower
Sears Sand at a proposed depth of 6,800 feet. We are currently at a depth of
6000 feet. We should be at our target zones within the next 24 hours.
Nitro conservatively estimates the well to produce 100 BBLS and 200 MCF per day.
We will keep you advised of the progress.
Respectfully,
James Borem, President
Nitro Petroleum Inc.
Contacts:
Nitro Petroleum Inc.
James Borem
President
405-273-9119
405-273-9889 (FAX
nitropetroleuminc@yahoo.com
SOURCE: Nitro Petroleum Incorporated
Wow did you forget to take your meds
Nitro way over valued, they will still dump more shares, right now share price valuing the company at 2.5 million, the stock price will dump to .15 cents, nitro valued at $850,000. get your bids in if you like this poor excuse of an oil company!
Whashu talkin' about, Willis...???!!!
Volume won't help when company dumping more shares on the market, they reverse split down to 2 million now back to 5 million outstanding, Jim up to the same old tricks will be back to billions outstanding before you now it, bring back the wiser!
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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
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 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 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.
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