Welcome to the Park Place Energy Corp board
Stock Symbol PKPL.OB
Nasdaq OTC fully reporting company-- website- http://www.parkplaceenergy.com/
Link to all SEC filings...
HIGH IMPACT ENERGY PLAYS
Our Goals for 2009
- Develop core producing gas property
- Identify shale gas opportunities within defined core area
- Acquire blue-sky opportunities through either joint venture or landsale auctions within core area
- Build on cash-flow
- Increase market awareness
- Build market capitalization
- Enhance shareholder value
The corporation has entered into an agreement with the operator to farm-in on a 21 section natural gas project in northeast BC, called the Eight Mile Property. The corporations announced discovery known as the “7-8 Well” has been tied in and placed on production the Company is now generating positive cash flow for the first time in its history as a public company. In the coming weeks, after a final review of the recently acquired 3D seismic data on the Eight Mile Property has been completed, decisions will be made as to where to drill additional earning and step out wells.
The corporation has interests to two leases comprising seven sections of land in the Peace River Alberta Oil Sands region. A seismic and test well program is planned for the this property.
High Impact Drilling Project - Morgan County, Tennessee
Park Place Energy is involved in a high impact drilling project in Morgan County, Tennessee where only a limited number of deep tests have been drilled. Most of these deep tests were conducted in the late 1960's through the early 1980's. After conducting extensive due diligence, the Operator of the Project, Montello Resources Ltd. (TSX Venture Exchange “MEO”) was able to secure mineral rights in the immediate vicinity to the Howard White # 1 Well which was drilled in 2002. It is important to note that while the Howard White # 1 Well was drilling a blowout occurred that resulted in the well flowing over 500 barrels / hour of light crude oil (12,000 barrels of oil per day “bopd”) for two days before being capped. www.pryoroil.com To date environmental and legal issues relating to the blowout have precluded the re-drilling of the Howard White # 1 Well. A third party oil company did however manage to license, drill and complete the John Bowen # 1 Well which produced high volumes of oil for a short period of time, before becoming mired in legal issues. In late 2007, Park Place Energy Corp. acquired from a third party a 5% participating interest in the John Bowen # 2 Well along with the right to participate with Montello in new wells in Morgan County, as to a 5% working interest.
John Bowen #2 Well
After reviewing the available information relating to the John Bowen # 1 Well Montello resolved the legal issues and managed to secure a number of key mineral leases. Montello then commenced to drill to the basement the John Bowen # 2 Test Well which proved to be one of the most challenging wells ever to be drilled in the State of Tennessee. Although the John Bowen # 2 Well has now been drilled and cased to 9,557 feet it has yet to be logged and fully evaluated. Notwithstanding this, Montello was able to garner enough information from the John Bowen # 2 Well to proceed with the drilling of the Morgan Highpoint # 3 & # 4 Test Wells.
Morgan Highpoint # 3 & # 4 Test Wells
When presented with the opportunity to participate in the Morgan Highpoint # 3 & # 4 Test Wells Park Place elected to participate as to its 5% participating interest. The Morgan Highpoint # 3 Test Well spud on March 4th, 2008 and on March 10th Park Place announced by way of a Press Release that as a precautionary measure, after encountering hydrocarbons, the well was secured and suspended until additional safety and under balanced equipment could be brought in to safely carry on operations. Montello then moved the drilling rig to the Morgan Highpoint # 4 Test Well location and spud the well on March 10th.
Key Points about Morgan County Tennessee
- This is an area where in 2002 there was a blowout estimated at ~ 12,000 bopd of 38.1 API oil.
- In late 2003 the John Bowen # 1 was drilled into the upper fractures that produced oil from 2,400 ft at ~800 bopd.
- State Geologists at a the Operator's Technical Presentation in early May, 2007 which was attended by 15 representatives from 8 regulatory agencies in Knoxville, informed Montello that Morgan County has had more occurrences of over-pressure incidents than anywhere else in the State of Tennessee.
- The Operator will be testing and evaluating the tests wells as they are drilled under-balanced.
- The Operator will conduct all operations in such a way as to insure the safety of all stakeholders.
Park Place Energy Corp. Announces Divesture of British Columbia Natural Gas Property
OTCBB:PKPL FRANKFURT: 3P2
VANCOUVER, Nov. 16 /PRNewswire-FirstCall/ -- Park Place Energy Corp. ("Park Place" or "the Company") is pleased to announce that the Company has sold its entire right, title, estate and interest in and to its Eight Mile property in North Eastern British Columbia. As consideration the purchaser will pay such amount, not to exceed $465,000, as to retire the obligations of Park Place to its creditors directly related to the Eight Mile property.
Park Place Energy's President & CEO David Johnson stated, "This transaction, while losing an asset, has allowed the Company to significantly lower its debt load as well decrease its on-going monthly obligations. It also allows management to focus on the Company's joint venture blue sky shale property in Alberta as well as continue to pursue talks with possible partners for a major gas shale acquisition or joint venture opportunity."
About Park Place
Park Place Energy Corp. is a North American oil and gas company that is participating in high impact opportunities. The Company is committed to acquiring blue-sky exploration opportunities, with a focus on shale gas. Park Place's management is focused on optimizing profitability and enhancing shareholder value.
Certain information regarding the Corporation contained herein may constitute forward-looking statements. These statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Park Place believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied. The Corporation is under no obligation to update or alter any forward-looking statement. These risks include operational and geological risks, the ability of the Corporation to raise necessary funds for exploration and the fact that the Corporation does not operate all its properties. Park Place's forward-looking statements are expressly qualified in their entirety by this cautionary statement.
DATASOURCE: Park Place Energy Corp.
CONTACT: Investor Relations: 1-877-685-0076, Email:
, Website: http://www.parkplaceenergy.com/
Park Place Energy Corp. Announces Record Revenues
Vancouver, British Columbia July 20, 2009 - Park Place Energy Corp.
Park Place is actively looking to increase its production and is pleased with the prospects and opportunities Concessions International Inc. has been found to date. The company feels that with Natural Gas prices depressed at the moment the environment is set to acquire large untapped International properties with blue-sky Shale opportunities.
Park Place Energy President and CEO David Johnson said, "We are very excited with the progression of our vision to acquire a large blue sky shale property, and with the company generating positive cash flow from our Eight Mile property the outlook for Park Place is very attractive."
("Park Place" or "the Company") is pleased to announce the Company’s revenues from its first year of production, exceeded $1,300,000. The revenues primarily come from natural gas sales however, it is also made up of approximately 19 barrels of liquids for every million cubic feet of natural gas produced. The Company has been receiving revenues for its portion of the 7 of 8 well at its Eight Mile property in North Eastern British Columbia.
About Park Place
Park Place Energy Corp. is a North American oil and gas company that is participating in high impact opportunities. The Company currently has gas production in North-East British Columbia and is committed to developing the asset as well as acquiring additional blue-sky gas opportunities in the area, with a focus on shale gas. Park Place’s management is focused on optimizing profitability and enhancing shareholder value.
For Further Information Contact:
Investor Relations: 1 (877) 685 0076
Email: email@example.com Website: www.parkplaceenergy.com
Certain information regarding the Corporation contained herein may constitute forward-looking statements. These statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Park Place believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied. The Corporation is under no obligation to update or alter any forward-looking statement. These risks include operational and geological risks, the ability of the Corporation to raise necessary funds for exploration and the fact that the Corporation does not operate all its properties. Park Place’s forward-looking statements are expressly qualified in their entirety by this cautionary statement.
Link to all NEWS for PKPL
Form 8-K for PARK PLACE ENERGY CORP.
Amendments to Articles of Inc. or Bylaws; Change in Fiscal Year, Financia
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year End
Park Place Energy Corp. (the "Company") has filed a Certificate of Change with the Secretary of State of Nevada, with an effective date of August 31, 2009, to effectuate a forward stock split of the Company's authorized share capital and its issued and outstanding shares of common stock, in each case on the basis of ten new common shares for each one old common share. The forward stock split is payable on September 2, 2009 to all shareholders of record as of the record date, August 31, 2009.
As a result, as of August 31, 2009, the Company's authorized share capital increased from 1,200,000,000 shares of common stock to 12,000,000,000 shares of common stock and its issued and outstanding share capital increased from 68,815,335 shares of common stock to 688,153,350 shares of common stock.
Item 9.01 Financial Statements and Exhibits.
Exhibit Number Document
3.1 Certificate of Change filed with the Secretary of State of Nevada
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PARK PLACE ENERGY CORP.