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PRHRQ BK PLAN effective. All shares cancelled:
https://otce.finra.org/otce/dailyList?viewType=Deletions
PRHR changed to PRHRQ, bankruptcy:
https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes
OUR TEAM:
Bill M. Conrad, Chairman
Mr. Conrad has served as Chairman of the Board of PetroShare since inception. He is presently an independent consultant, providing financial management services. From 1990 until December 2012, Mr. Conrad served as Vice-President of MCM Capital Management, Inc., a privately-held financial and management consulting firm. MCM assisted other companies in developing and implementing their business plans and capital formation strategies. In that capacity, Mr. Conrad participated in the organization or development of a number of companies in industries as diverse as oil and gas, real estate, and technology. Mr. Conrad also currently serves (2006 to present) as a director of Gold Resource Corporation, a publicly traded gold mining and exploration company with securities listed on the NYSE MKT. Mr. Conrad also currently serves (2005 to present) as a director of Synergy Resources Corporation, a publicly traded oil and gas company with securities listed on the NYSE MKT.
Stephen J. Foley
Stephen J. Foley, Chief Executive Officer
Mr. Foley has served as the Chief Executive Officer of PetroShare since its inception. Prior to entering private business, Mr. Foley had a successful pro football career as a safety with the Denver Broncos football organization of the National Football League where he played for 11 seasons, from 1976 to 1986. In 1991, Mr. Foley founded and continues to serve as the president of FSI Development Inc., a privately-held construction and development company engaged in residential development and construction. In 2000, he founded and continues to serve as a manager of FS Land, LLC, another privately-held real estate development company. He holds a BS in Business Administration from Tulane University and serves on the Board of Denver Street Schools.
Frederick J. Witsell
Frederick J. Witsell, President
Mr. Witsell has over 32 years’ experience in several facets of the oil and gas industry, including prospect development, conventional and horizontal drilling and completion operations, project management, gathering and compression systems, and marketing and risk management. From 2010 to 2011, Mr. Witsell served as Vice-President and General Manager of Monroe Gas Storage, an affiliate of High Sierra Energy Partners, and led the organization’s projects and eventual divestiture in 2011. From 1999 to 2003, he was with Markwest Hydrocarbons (NYSE) in the capacity of Vice-President of the Rocky Mountain Business Unit and responsible for the growth thru capital programs and financial performance of the company’s oil and gas operations in the US and Canada. Mr. Witsell led the acquisition and eventual divestiture process of Markwest oil and gas assets. Prior to 1999 and at various times between 2003 and 2010 and in 2012, Mr. Witsell also served as an executive and co-founder of a series of small, privately-funded oil and gas companies with properties in North Dakota, Wyoming, Utah and Colorado. He was responsible for the growth and execution of capital programs, utilizing modern horizontal / directional drilling and completion technologies. He led the divestiture of these oil and gas companies. Mr. Witsell has a BA in Geology from Colorado College, an MBA in Energy Management from the University of Denver, and is a member of Society of Petroleum Engineers, the American Association of Petroleum Geologists and the Rocky Mountain Association of Geologists.
http://www.petrosharecorp.com/about.htm
PETROSHARE CORP IS A DOMESTIC ENERGY COMPANY BASED OUT OF DENVER, COLORADO
PetroShare was formed to investigate, acquire and develop oil and gas properties in the Rocky Mountain and mid-continent portion of the United States.
November 20, 2015 PetroShare Corp. Closes $4.6 Million Public Offering; Approved for Trading on OTCQB
DENVER, CO--(Marketwired - November 20, 2015) - PetroShare Corp. (OTCQB: PRHR), an oil and natural gas producer headquartered in Centennial, Colorado, is pleased to announce the closing of its initial public offering of 4,600,000 shares of common stock at a price of $1.00 per share on November 19, 2015. The gross proceeds of the offering were $4.6 million before deducting underwriting discounts and commission and other offering expenses. PetroShare intends to use the net proceeds from the offering to acquire additional oil and gas leases and implement its drilling program in the Wattenberg Field of northeast Colorado.
PetroShare Corp. was notified today that its application to have its common stock quoted on OTCQB of OTCLink ("OTCQB") was approved. As a result, the Company's stock will be available for trading on November 23, 2015 under the symbol PRHR.
Noble Financial Capital Markets acted as the underwriter for the offering.
Stephen Foley, Chief Executive Officer of the Company stated, "This is a tremendous step for our company and we look forward to acquiring more acreage and initiating our drilling program in the near future."
A registration statement relating to these securities was filed with the Securities and Exchange Commission and became effective on November 12, 2015. This offering is being made only by means of a prospectus. Copies of the final prospectus may be accessed through the SEC's website at www.sec.gov or obtained from PetroShare Corp. at its principal business address.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
ABOUT PETROSHARE CORP.
PetroShare Corp. is a domestic oil and natural gas exploration and development company based in Centennial, Colorado. PetroShare targets capital deployment opportunities in established unconventional resource plays. Its current focus is in the Niobrara / Codell formations and adjacent oil and gas producing zones in the Rocky Mountain region with specific targets in the Wattenberg field within the DJ Basin of northeast Colorado.
Contact Information
For further information contact:
PetroShare Corp.
Tel: (303) 500-1160
Fax: (303) 770-6885
September 03, 2015 PetroShare Corp. Announces a 2-Year Extension of Strategic Land and Leasing Services Agreement With Kingdom Resources, LLC
CENTENNIAL, CO--(Marketwired - September 03, 2015) - PetroShare Corp. announced today a 2-Year extension of its strategic land and leasing services agreement with Kingdom Resources, LLC. The agreement was set to expire on December 31, 2015 and has been extended through December 31, 2017.
Fred Witsell, President of PetroShare, commented, "The extension mutually benefits the parties and allows the opportunity for the partnership to expand its ongoing leasing activities."
ABOUT PETROSHARE CORP.
PetroShare Corp. is a domestic oil and natural gas exploration and development company based in Centennial, Colorado. PetroShare targets capital deployment opportunities in established unconventional resource plays. Its current focus is in the Niobrara / Codell formations and adjacent oil and gas producing zones in the Rocky Mountain region with specific targets in the Wattenberg field within the DJ Basin of northeast Colorado.
Caution Concerning Forward-Looking Statements
This news release contains certain forward looking-statements and information, including "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements and information expressed, as of the date of this news release, PetroShare's estimates, forecasts, projections, expectations or beliefs as to certain future events and results. These forward-looking statements include, among others, statements regarding the benefits that PetroShare expects from proposed transactions, the anticipated closing of the transaction, and plans and objectives of management for future operations. Forward-looking statements and information are necessarily based on a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, technical, economic and competitive uncertainties, risks and contingencies, and there can be no assurance that such statements and information will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements and information.
Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements and information include, but are not limited to, the risks of obtaining sufficient capital, the level of success in exploration, development and production activities, possible defects in title to properties, fluctuations in the market price of crude oil and natural gas, industry risks, possible federal and/or state initiatives related to regulation of hydraulic fracturing, risks related to permitting and the projected time frames to receive the necessary permits, the construction of crude oil production operations and commencement of production and the projected costs thereof, possible failure of exploration and development activities to yield oil or gas in commercially viable quantities, risks related to litigation, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of crude oil and natural gas resources and reserves and other risks. Readers should not place undue reliance on forward-looking statements or information included herein, which speak only as of the date hereof. PetroShare undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See PetroShare's Prospectus and other filings with the Securities and Exchange Commission, under the caption "Risk Factors" for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information regarding the Company. All forward-looking statements and information made in this news release are qualified by this cautionary statement.
Contact Information
For further information contact:
PetroShare Corp.
Tel: (303) 500-1160
Fax: (303) 770-6885
July 31, 2015 PetroShare Corp. Announces Strategic Consulting Agreement With William (Bill) Lloyd to Assist With Engineering and Operations
CENTENNIAL, CO--(Marketwired - July 31, 2015) - PetroShare Corp. announced today that it has entered into a strategic consulting agreement with William (Bill) Lloyd. Mr. Lloyd brings Petroshare a wealth of experience in modern horizontal drilling and completion operations as well as overall industry experience. Prior to assisting PetroShare, Mr. Lloyd was the Sr. Vice President of Operations for Cirque Resources LP, a privately-held oil and gas company based in Denver, where he led engineering, drilling, completion and facilities activities for all of Cirque's operations, inclusive of the DJ Basin.
As part of Mr. Lloyd's compensation package for consulting services, PetroShare has granted him a certain amount of options to acquire company stock.
Stephen J. Foley, CEO of PetroShare, noted, "Having Bill Lloyd on our team provides us with additional, well-seasoned, industry experience in our area of focus within the DJ Basin."
ABOUT PETROSHARE CORP.
PetroShare Corp. is a domestic oil and natural gas exploration and development company based in Centennial, Colorado. PetroShare targets capital deployment opportunities in established unconventional resource plays. Its current focus is in the Niobrara/Codell formations and adjacent oil and gas producing zones in the Rocky Mountain region with specific targets in the Wattenberg field within the DJ Basin of northeast Colorado.
Caution Concerning Forward-Looking Statements
This news release contains certain forward looking-statements and information, including "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements and information express, as of the date of this news release, PetroShare's estimates, forecasts, projections, expectations or beliefs as to certain future events and results. These forward-looking statements include, among others, statements regarding the benefits that PetroShare expects from transactions and plans and objectives of management for future operations. Forward-looking statements and information are necessarily based on a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, technical, economic and competitive uncertainties, risks and contingencies, and there can be no assurance that such statements and information will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements and information.
Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements and information include, but are not limited to, the risks of obtaining sufficient capital, the level of success in exploration, development and production activities, possible defects in title to properties, fluctuations in the market price of crude oil and natural gas, industry risks, possible federal and/or state initiatives related to regulation of hydraulic fracturing, risks related to permitting and the projected timeframes to receive the necessary permits, the construction of crude oil production operations and commencement of production and the projected costs thereof, possible failure of exploration and development activities to yield oil or gas in commercially viable quantities, risks related to litigation, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of crude oil and natural gas resources and reserves and other risks. Readers should not place undue reliance on forward-looking statements or information included herein, which speak only as of the date hereof. PetroShare undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See PetroShare's Prospectus and other filings with the Securities and Exchange Commission, under the caption "Risk Factors" for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information regarding the Company. All forward-looking statements and information made in this news release are qualified by this cautionary statement.
Contact Information
For further information contact:
PetroShare Corp.
Tel: (303) 500-1160
Fax: (303) 770-6885
May 19, 2015 Petroshare Corp. Announces Closing of Lease Acquisition, $5.0 Million Revolving Line of Credit and Participation Agreement
CENTENNIAL, CO--(Marketwired - May 19, 2015) - PetroShare Corp. (the "Company") announced today that under its strategic land and leasing services agreement with Kingdom Resources, LLC ("Kingdom"), it closed on the previously announced assignment of approximately 333 net acres, as revised, covering all depths in parts of Township 1 South, Range 67 West, Adams County, Colorado. The acreage is located in the southern end of the Greater Wattenberg oil and gas field. The Company expects that this initial lease position represents the first of additional acreage acquisitions to be generated under the Company's agreement with Kingdom.
Additionally, on May 13, 2015, the Company entered into a participation agreement and a $5.0 million revolving line of credit facility agreement with an industry partner based out of Dallas, TX. It is anticipated that the line of credit will allow PetroShare to step up its lease acquisition program and accelerate drilling operations.
The participation agreement gives the Company's industry partner the right to participate in up to 50% of leases, drilling and acquisitions within the Kingdom area of mutual interest ("AMI"). The AMI consists of an area containing all of Township 1 South, 67 West, Adams County, Colorado.
Stephen J. Foley, CEO of PetroShare, noted, "We are extremely pleased to enter into this joint venture with a seasoned industry partner. We expect this to be the first step in a multi-well drilling program that PetroShare will undertake in the Wattenberg Field. This initial lease position gives us a solid, focused foundation to rapidly expand our area operations, taking advantage of current commodity prices as an entry point in a great resource play."
ABOUT PETROSHARE CORP
PetroShare Corp. is a domestic oil and natural gas exploration and development company based in Centennial, Colorado. PetroShare targets capital deployment opportunities in established unconventional resource plays. Its current focus is in the Niobrara/Codell formations and adjacent oil and gas producing zones in the Rocky Mountain region with specific targets in the Wattenberg field within the DJ Basin of northeast Colorado.
Caution Concerning Forward-Looking Statements
This news release contains certain forward looking-statements and information, including "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements and information expressed, as of the date of this news release, reflect PetroShare's estimates, forecasts, projections, expectations or beliefs as to certain future events and results. These forward-looking statements include, among others, statements regarding the benefits that PetroShare expects from transactions and plans and objectives of management for future operations. Forward-looking statements and information are necessarily based on a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, technical, economic and competitive uncertainties, risks and contingencies, and there can be no assurance that such statements and information will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements and information.
Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements and information include, but are not limited to, risks related to receipt of working capital, the risks of obtaining sufficient capital, the level of success in exploration, development and production activities, possible defects in title to properties, fluctuations in the market price of crude oil and natural gas, industry risks, possible federal and/or state initiatives related to regulation of hydraulic fracturing, risks related to permitting and the projected timeframes to receive the necessary permits, the construction of crude oil production operations and commencement of production and the projected costs thereof, possible failure of exploration and development activities to yield oil or gas in commercially viable quantities, risks related to litigation, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of crude oil and natural gas resources and reserves and other risks. Readers should not place undue reliance on forward-looking statements or information included herein, which speak only as of the date hereof. PetroShare undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See PetroShare's Prospectus and other filings with the Securities and Exchange Commission, under the caption "Risk Factors" for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information regarding the Company. All forward-looking statements and information made in this news release are qualified by this cautionary statement.
Contact Information
For further information contact:
PetroShare Corp.
Tel: (303) 500-1160
Fax: (303) 770-6885
March 02, 2015 PetroShare Corp. Announces Acquisition of Acreage in the Wattenberg Field
CENTENNIAL, CO--(Marketwired - March 02, 2015) - PetroShare Corp. announced today that under its strategic land and leasing services agreement with Kingdom Resources, LLC, it has accepted an assignment of approximately 309 net acres covering all depths in parts of Township 1 South, Range 67 West, Adams County, Colorado. The acreage is located in the southern end of the Greater Wattenberg oil and gas field. This area is actively undergoing horizontal development for the Niobrara and Codell formations by numerous operators. As of the date of this press release, the Company would have the ability to participate in an approximate 28.75% working interest behind an active DJ Basin operator in a series of Niobrara/Codell horizontal wells which are currently pending approval by the Colorado Oil & Gas Conservation Commission. The Company expects that this assignment will represent the first of additional acreage assignments to be generated under the Company's services agreement with Kingdom Resources. The services agreement covers an area encompassing approximately 36 square miles in Adams County, Colorado.
Closing of the acquisition is subject to certain contingencies, including receipt of additional capital by the company.
Stephen J. Foley, CEO of PetroShare, remarked, "We are extremely pleased to see our agreement with Kingdom Resources bear fruit in an area that we believe represents one of the most attractive areas of Niobrara/Codell development in all of the DJ Basin. We believe that the Wattenberg Field provides one of the lowest unconventional resource development costs in the U.S. Consequently, this area provides the potential of compelling oil and gas development economics even at current lower commodity prices."
OPERATIONS UPDATE
PetroShare, as operator, drilled and preliminarily completed two (2) Niobrara oil and gas wells in the Buck Peak Field located within the Sand Wash Basin of northwestern Colorado. The wells are awaiting fracture stimulation of the upper Niobrara zones on or about May 1st of this year.
ABOUT PETROSHARE CORP.
PetroShare Corp. is a domestic oil and natural gas exploration and development company based in Centennial, Colorado. PetroShare targets capital deployment opportunities in established unconventional resource plays. Its current focus is in the Niobrara/Codell formations and adjacent oil and gas producing zones in the Rocky Mountain region with specific targets in the Wattenberg field within the DJ Basin of northeast Colorado.
Caution Concerning Forward-Looking Statements
This news release contains certain forward looking-statements and information, including "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements and information expressed, as of the date of this news release, PetroShare's estimates, forecasts, projections, expectations or beliefs as to certain future events and results. These forward-looking statements include, among others, statements regarding the benefits that PetroShare expects from proposed transactions, the anticipated closing of the transaction, and plans and objectives of management for future operations. Forward-looking statements and information are necessarily based on a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, technical, economic and competitive uncertainties, risks and contingencies, and there can be no assurance that such statements and information will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements and information.
Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements and information include, but are not limited to, risks related to receipt of working capital, the risks of obtaining sufficient capital, the level of success in exploration, development and production activities, possible defects in title to properties, fluctuations in the market price of crude oil and natural gas, industry risks, possible federal and/or state initiatives related to regulation of hydraulic fracturing, risks related to permitting and the projected timeframes to receive the necessary permits, the construction of crude oil production operations and commencement of production and the projected costs thereof, possible failure of exploration and development activities to yield oil or gas in commercially viable quantities, risks related to litigation, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of crude oil and natural gas resources and reserves and other risks. Readers should not place undue reliance on forward-looking statements or information included herein, which speak only as of the date hereof. PetroShare undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See PetroShare's Prospectus and other filings with the Securities and Exchange Commission, under the caption "Risk Factors" for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information regarding the Company. All forward-looking statements and information made in this news release are qualified by this cautionary statement.
Contact Information
For further information contact:
PetroShare Corp.
Tel: (303) 500-1160
Fax: (303) 770-6885
PRHR $3.00 Looks like the real deal here for a Oil and Gas play
Scroll to bottom to see their property pics
http://www.petrosharecorp.com/properties.htm
Buck Peak Prospect
7,700 gross acres (1,000 net acres) located in Moffat County, referred to as the Buck Peak prospect.
The Buck Peak prospect targets oil and associated wet gas from the fractured Niobrara Shale formation. In addition, the prospect has demonstrated a potential for coal bed methane and conventional gas production from relatively shallow zones above the Niobrara. Wells drilled on the prospect acreage by other companies have also indicated both oil and gas production from various zones deeper than the Niobrara.
Currently, PetroShare has drilled and completed two producing wells in the prospect.
The Company has acquired an initial acreage position of approximately 1280 gross acres (333 net acres) in the core of the oil dominated Niobrara / Codell resource development fairway in the southern end of the Greater Wattenberg Field area of NE Colorado.
This area has developed into one of the most economic unconventional resource plays in the U.S. due to its lower development costs and excellent oil and gas reserve potential. The core area of the development fairway has demonstrated a resilience to low commodity prices as many large operators continue to devote a majority of their US onshore capital budgets to this area.
As a result of the ongoing activity in this area, PetroShare expects to initiate development activity as both an operator and as a non-operator during 2016. This initial acreage position is the first acquisition of what the Company expects to be many others under its exclusive oil & gas leasing arrangement with Kingdom Resources LLC, Castle Rock.
http://www.petrosharecorp.com/properties.htm
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