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Any additional information on it right now? I went to the Las Vegas News 8 site and can't find the video yet.
On March 17, 2010, the Company acquired oil and gas leases in Wyoming for consideration of $300,000.00 cash. See also note 4. The Company intends to explore for oil and gas on these properties. The Company entered an exploration stage on March 31, 2010.
4. OIL AND GAS PROPERTIES
The Company has oil and gas properties in Wyoming and California.
Wyoming.
Oil and gas properties in Wyoming that cost $85,334 consist of four leases issued by the United States Department of the Interior Bureau of Land Management, #WYW158664 and #WYW158665 dated August 1, 2004, #WYW159734 and #159737 dated February 1, 2004. These leases cover 3,744.57 acres in the Jonah Prospect, South of the Jonah Field in the Greater Green River Basin, Wyoming. These leases are subject to a 12.5% royalty retained by the lessor and 5% overriding royalty retainer by the seller. The leases were acquired by the Company March 17, 2010 for $300,000 cash from a related party. The related party had paid $80,000 to paid-in capital by the remaining $220,000. No exploration work has been conducted by the Company on the properties to December 31, 2012.
Lease #WYW158664 covers property legally described as ALL Township 28N Range 110 West 6 th Meridian Sublette County, Wyoming Section 6-lots 1-7; S2NE; SENW; E2SW; N2SE Section 7 Lots 1-4; E2W2 Section 17 N2 Section 19 Lots 3 & 4; E2SW Section 30 Lots 1-4; E2W2; SE. The annual rent on this property is $3,296 and was paid by the seller up to August 1, 2010.
Lease #WYW158665 covers property legally described as All Township 28N Range 110 West 6 th Meridian Sublette County, Wyoming Section 28 SW Section 29 S2 Section 31 Lots 1-4; S2NE; E2W2; SE. The annual rent on this property is $2,038 and was paid by the seller up to August 1, 2010.
Lease #WYW159734 covers property legally described as All Township 27N Range 107 West 6 th Meridian Sublette County, Wyoming Section 5 Lotsl-4; S2N2; 52. The annual rent on this property is $6,390 and was paid by the seller up to February 1, 2011.
Lease #WYW159737 covers property legally described as All Township 27N Range 107 West 6 th Meridian Sublette County, Wyoming Section 8 N2; N2SE; SESE. The annual rent on this property $4,400 and was paid by the seller up to February 1, 2011.
I found this information concerning the new area of interest mentioned by Grid in that PR.
Under the surface of at least fifteen West Texas counties—stretching from Reagan and Irion to perhaps as far north as Kent and Stonewall—excitement is bubbling over the new Cline shale, which according to some estimates may be the largest new oil & gas play in North America. As more and more exploration and production companies move into the area to join Devon Energy, Chesapeake Energy, Apache Corporation, Laredo Petroleum, and Japan’s Sumitomo Corporation, mineral interest owners are no doubt dreaming of dollar signs and an early retirement.
Test wells on the Cline show the shale contains 3.6 million barrels of recoverable oil per square mile, about 300 billion barrels of recoverable oil for the entire shale.
Until recently, the Eagle Ford Shale was considered to be the richest shale play in Texas. The Eagle Ford Shale covers Webb, Dimmit, Lavaca, McMullen, Karnes, DeWitt and Gonzales counties in the southern portion of the state.
Recent advances in horizontal drilling have opened up the possibility of drilling in areas like the Cline.
The Cline’s depth is equivalent to 10 Eagle Ford Shales stacked on top of each other.
Hope to see PR's soon as to what's going on behind the scenes.
looks like that'll continue till they have oil revenues.
Well, one good thing, it looks like we've got the Jonah leases back again.
10 Q just out!
if I can repeat a post, here's one too.
http://www.nytimes.com/2013/02/04/us/vast-oil-reserve-may-now-be-within-reach-and-battle-heats-up.html?src=recg
Do you think Tim would ever combine the two companies?
Nice volume going into the weekend. We need Grid to drop some good news on us, then look out.
Looking forward to the oil coming from the NW Premont. Dan Polk from Progas is looking for industry help to drill over 100 wells in the field. We'd all probably like Grid Petroleum Productions Inc. to help him out. This should provide funds to develop the Jonah natural gas fields in Wyoming.
Here's a good article from the New York Times on the Monterey shale in the San Joaquin Basin. This and the Kreyenhagen oil shale lay across Grid's 4000+ acres.
http://www.nytimes.com/2013/02/04/us/vast-oil-reserve-may-now-be-within-reach-and-battle-heats-up.html?src=recg
tomorrow would be appropriate
thanks for the play x play, i don't have level 2
I was fortunate and got a nice pile at .0008 this morning.
Some information I pulled from Dan Polk's LinkedIn profile. It doesn't sound to me like he's ready to quit drilling the NW Premont.
..Currently developing a Super Stacked Frio field in south Texas and likely will for several years, along with an over pressured gas and oil impregnated shale on the Gulf Coast. Have served as a consultant to many other professionals in the business. Been in oil and gas business since 1978.
Progas, Inc
1980 – 2009 (29 years)
..We are currently developing a large but shallow oil field in south Texas, super stacked (9-15 zones per well drilled thus far and are seeking industry partners to aide in the development of the field - 2012), Likely have 100 plus wells to drill. Large blanket sands.
thanks packer. I'll let you know if I get in contact.
I've found this so far, but not a good phone number yet.
Samuel G. Weiss
Secretary at Anthony's Coal Fired Pizza of Pembroke Pines, Inc.
Director, Secretary and Vice President at Acfp Investors, Inc.
Secretary at Anthony's Coal Fired Pizza of Aventura, Inc.
Secretary at Anthony's Coal Fired Pizza of Boca Raton, Inc.
Secretary at Anthony's Coal Fired Pizza of Boynton Beach, Inc
Secretary at Anthony's Coal Fired Pizza of Coral Springs, Inc
Secretary at Anthony's Coal Fired Pizza of Delray Beach, Inc.
Secretary at Anthony's Coal Fired Pizza of Palm Beach Gardens, Inc.
Secretary at Anthony's Coal Fired Pizza of Plantation, Inc.
Secretary at Anthony's Coal Fired Pizza of Weston, Inc.
Director, Secretary and Vice President at Anthony's Pizza Holding Company, Inc.
Secretary at Anthony's Sports Bar and Grill, Inc.
Managing Member at Atlas Lox LLC
Director at Brazos International Exploration, Inc.
Manager at Crossroads McMar LLC
Great find braveheart and sealskin. I think we may know what the company's next PR might be about now.
Solimar News just out. Does it apply to Grid, dunno. It sure can't hurt. Solimar is going to go after the "Big boys" to help develop the acreage now. They must be on to something. IMO
http://www.solimarenergy.com.au/documents/130121_Paloma_Deep_Testing.pdf
and
http://www.solimarenergy.com.au/documents/Dec_12_App_5B_and_Activity_Statement.pdf
nice fininsh. I didn't see that coming. Glad I added more yesterday.
That'll work. Hopefully they'll give us an update on all the fronts.
News due any day now.
Thanks for talking to them. I tried in the past but got transferred to voice mail and my recent emails to investor relations haven't been answered.
Good information Artie, thanks for sharing.
http://www.stockhouse.com/companies/overview/grpr/grid-petroleum-corp.
SHARES OUT
314,273,653
movieextra, I've been looking at Zodiac Exploration, zdexf, and UndergroundEnergy, uggyf, both fitting your criteria. Zodiac leases are pretty close to Solimars. I'd like to pinpoint Grid's leases in relation to where Solimar is drilling right now.
I saw this on another board, Goldman Sachs prediction of oil prices in 2013:
http://www.foxbusiness.com/news/2013/01/17/goldman-sachs-says-oil-price-could-reach-150/?intcmp=obnetwork
Here is the PR that states it.
DENVER, Dec. 9, 2011 /PRNewswire/ -- Grid Petroleum Corporation (OTC.BB: GRPR.OB – NEWS) ("The Company") announces material enhancements to its plans to develop the Unconventional Shale acreage it joint ventures in the San Joaquin Basin in California.
In a strategic move, the Company has mitigated it's exposure to the initial exploratory risk associated with the development of the Unconventional Shale acreage to its joint venture partners in exchange for a reduction of the Company's working interest in the overall Kreyenhagen Trend oil shale play.
Grid Petroleum will have contributed on its behalf, a cash consideration , of 1.1 million dollars towards developmental expenses during the next twelve months by its joint venture partners. These costs include all lease costs for the next twelve months, the costs associated with the developmental study and all the costs and expenses of drilling the first test well on the acreage.
The Company has reduced its working interest from 50% to 20% with a net revenue interest reduction from 37.5 % to 14%
"We see this development plan for the acreage to be a very positive move for the Company," stated President James Powell. "Not having to cover these expenses before the first well is drilled allows the Company to reap the benefits of success in the acreage without having to expose any investment dollars."
The company is informed by its joint venture partners that the compilation of associated properties information stage is near completion and that the progress of the study remains on track. It is anticipated that the study will be completed and the first drill site will be selected within the first quarter of 2012.
The company previously announced the following estimated Oil In Place Potential of the Kreyenhagen Trend leases as determined by the company's geologists: "Initial estimates indicate that there exists 82,000,000 BOOIP. Eighty Two Million Barrels Oil Oil in Place."
The Company currently holds a 20% Working Interest in the 4,000 acres , Grid Petroleum Corp joint venture partners hold the other providing an estimated 16,400,000 BOOIP to Grid Petroleum's Interest.
Solimar Energy Limited as operator has been active on the Kreyenhagen Trend Prospect:
All Kreyenhagen Trend leases have been renewed with the first lease requiring payment at end of 2012 - Approximately $10,000 of lease payments will be due from Grid petroleum Corp in October 2012 as per the 2nd settlement agreement negotiated last fall.
According to the terms of the 2nd settlement agreement, Grid Petroleum Corp is carried for all lease payment expenses through September 1 of 2012. Several of the leases required renewal during the last quarter of 2011 and the first quarter of 2012. Pursuant to the terms of the January 20, 2011 Asset transfer agreement and to the November 21, 2011 amendments of the January agreement, the company has a carry of all lease payments during this period. Several of the mineral rights owners required 2 years of pre payment lease payments with one mineral rights owner requiring 3 years of pre payments to extend. Grid Petroleum Corp was carried by Solimar Energy Limited for these lease extensions.
DRILL SITE SELECTION KREYENHAGEN TREND :
6 wells have been submitted to the State of California for permitting.
Bawden 1-24 – The well that Grid Petroleum Corp has a Carried Interest or Farm-in well where Grid Petroleum Corp will not have any expenses and is carried 100%. Target Zone: Temblor Test
Vintage 1-17 - Temblor Test
Vintage 1-21 - Temblor Test
Den Hartog A-1 - Avenal Test
Den Hartog A-2 - Avenal Test
Den Hartog A-3 - Avenal Test
The Company is pleased to announce that it has determined the primary asset of the company, the 4,000 acre Kreyenhagen Trend leases, contain the same target zones of production as the neighboring Kreyenhagen Ranch.
These target zones consist of the heavy oil in the upper Temblor and the Unconventional Shales, of the Kreyenhagen and the Monterey that continue to trend North and South from the Kreyenhagen Ranch Field.
Initial estimates indicate that there exists 82,000,000 BOOIP (Eighty Two Million Barrels Oil In Place). The Company currently holds a 50% Working Interest in the 4,000 acres providing an estimated 41,000,000 BOOIP to the Company’s Interest.
Using a P10 valuation of the Oil in Place reserve calculation and assuming a recovery rate of 10% indicating the volume of recoverable oil at an estimated 4,100,000 Barrels of Oil.
Care to provide a link to that statement?
I agree. If only they would get back to the shareholders at least every few weeks and tell us at least that the lights are still on. I left a message for Eddy Aruda from Santa Rosa Oil to see if he's got any news about the oilfield.
Did the manager give you any indication as to what may be up? I'd like to get a valid phone number or email for sam and talk with him myself.
yeah, I don't think they're any issues with that study now. I get real feelings about this Cali. play after I read over the Solimar updates.
saw that yesterday, sounds good to me.
Found this video of the Garcia #3 completion:
For what it's worth, this section of Solimar's property is in the neighborhood of Grid's, I believe. It's difficult to differentiate specific sections and leases, etc. IMO
http://www.solimarenergy.com.au/documents/121121_K_Ranch_Release.pdf
Solimarenergy.au.com
Did you see Solimar's latest update? It's getting better all the time.
10-Q just out.