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they probably have more news just didnt release they are probably talking to someone to drill now or lining up someone to drill for oil
1 dollar a share
We Don’t Need a Shortage to Rebalance the Market
somone bought 1 million 4 minute after close
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Grid Petroleum Corp Enters Into Strategic Funding Agreement
Grid Petroleum Corp
June 30, 2014 9:20 AM
????
DENVER, CO--(Marketwired - Jun 30, 2014) - Grid Petroleum Corp. (PINKSHEETS: GRPR): The Board of Directors are pleased to announce that Grid Petroleum has entered into a strategic funding agreement with Santa Rosa Resources Inc, a privately held Delaware corporation, for the development of Grid Petroleum's leases in the Kreyenhagen Trend Properties located in the San Joaquin Valley of Central California.
Santa Rosa Resources is currently engaged in a Reg. D, rule 506(c) joint venture offering to fund the drilling of ten wells on the Kreyenhagen Trend leases owned by Grid Petroleum. Santa Rosa Resources' CEO stated, "We are looking forward to drilling five wells into the shallow Temblor Formation as well as five into the Kreyenhagen, Avenal and Monterey Shale Formations. We are hoping to produce between 2,000 and 3,000 barrels a day from the wells once the drilling program is completed."
Grid Petroleum President James Powell remarked, "We are looking forward to developing these leases and hopefully other leases in the future with Santa Rosa Resources. This mutually beneficial arrangement will assist Grid Petroleum in executing its business plan and achieving its long term goals."
The company plans to begin the mapping planning and drill site selection process for the development of these ten wells.
Upon completion of the planning process the company will then be making Drilling Permit applications for its first development well.
The company will be the Operator of these lease holdings.
Related Quotes
GRPR
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Grid Petroleum Corp.? Watchlist
0.00010.00(0.00%)
OTC MarketsThu, Jun 11, 2015 3:08 PM EDT
GRID PETROLEUM CORP. Files SEC form 8-K, Other Events, Financial Statements and Exhibits EDGAR Online 13 days ago
GRID PETROLEUM CORP. Files SEC form 8-K, Entry into a Material Definitive Agreement, Change in Directors or Principal EDGAR Online 2 mths ago
More
Grid Petroleum Corp. is a development stage company focused on the acquisition and development of low cost high reward oil and gas prospects with infield drilling for proven potential reserves in the United States and Canada.
what does he know
yes it looked valid to the mooon
i searched and found it aol browser
they are in oil and gas i bet they are going gas profit for oil is too low
they might already have the ball rolling
American Company Spotlight
Grid Petroleum Corp. Website: Click Here
Information As Of April 20, 2010
Exchange: OTCBB Market Cap: 78.1 Million
Outstanding Shares: 65.1 Million 52 Low / High: $0.55 / $1.20
Price April 20, 2010: $1.20 GRPR Recent Stock Quote and News: Click Here
"The Jonah Field and the Pinedale Anticline are acknowledged as the premier gas fields in the Rocky Mountains and expected to contain almost 8.0 – 15.0 TCF (trillion cubic feet) of natural gas. The Jonah Prospects acquired by Grid Petroleum in Greater Green River Basin Wyoming, are spread over 3,740 acres of high impact gas leases and are located in the second largest proven gas reserve in the North America."
Overview
Grid Petroleum Corp. is a London, UK based Independent Oil and Gas Exploration Company, with an operational office in Denver Colorado. Grid has recently secured assets in Wyoming, neighbouring the prolific Jonah Gas Field.
Investment Highlights
Major Acquisition. The Company announced the acquisition of assets in the SE Jonah Field, an area of premium natural gas reserves within the Greater Green River Basin in the Rocky Mountains area of Wyoming. This final agreement has been signed pursuant to the Letter Of Intent (LOI) signed earlier this year. Regarded as one of the foremost gas fields in the Rocky Mountains, the Green River Basin area contains approximately 26 TCF (Trillion Cubic Feet) of natural gas, with the Jonah Field estimated to contain 7 to 10 TCF according to the Wyoming State Geological Survey. The Jonah Field currently produces from in excess of 500 wells.
Strong Analyst Recommendation. According to a research report by Cohen Independent Research Group, Inc., they expect the Company to have revenues of $5.4 million for FYE 2010 and more than $145.7 million by 2016. The Cohen report also gives the Company a price index target of $2.26, significantly higher than today's trading level.
Industry Shifts Bode Well For Company. Declining conventional oil and gas discoveries, rise in exploration and production costs, and increasing dependence on foreign oil and higher oil prices have resulted in renewed focus on domestic oil and gas production.
Technical Report Highlights. The Company recently announced the completion of a technical report by a world leader in Oilfield Services, Schlumberger. Schlumberger’s report evaluates Grid Petroleum’s SE Jonah Prospect in Sublette County, Wyoming. In completing the evaluation the report cites a base case EUR estimate of 292.4 Billion standard cubic feet (Bscf) and a high case estimate of EUR 1280.8 Bscf. and has recommended the acquisition of additional seismic data over the prospect to allow for greater subsurface control and better positioning of drilling locations.
Important Geologic Location. Wyoming's geologic basins contain some of the largest fossil fuel deposits in the United States. As of 2007, Wyoming is ranked 5th in production of crude oil and 2nd in natural gas production. The State of Wyoming produced 2,254 trillion cubic feet of natural gas and 53.4 million barrels of crude oil in 2007.
Profile
Global oil demand declined in 2009 for the second consecutive year, the first time since 1983 that this has occurred. The decline bottomed out in the middle of 2009, as the world economy began to recover in the last half of the year. The global market for oil and gas is expected to tighten in 2010 and 2011 driven by the positive recovery in the global economy. Developing and under-developed economies and other countries outside the OECD are expected to lead the demand recovery. Furthermore, the demand for oil in developed nations will also grow in response to improving economic conditions. China and India continue to lead world consumption growth.
The recent cuts announced by the Organization of the Petroleum Exporting Countries (OPEC) have weakened the global market for oil. This has led to global oil and gas inventories and spare production capacity. This coupled with expectations of a continued global economic turnaround have resulted in the reinforcement of the global oil markets. This reinforcement of the global oil market bodes well for a new-comer to the industry, and this Company is already making significant waves in the prolific geologic basin in Wyoming, USA.
Grid Petroleum Corporation (OTCBB:GRPR) is a start-up organization, focused on the acquisition, development, exploration and production (E&P) of oil and gas properties across North America. The Company?s first acquisition was the Jonah Project. The Company has acquired a working interest in oil and gas prospects within the Jonah Field region of Wyoming, USA. Grid Petroleum is looking at a couple of more assets to expand its portfolio. Grid has recently acquired, from Murrayfield Limited, assets in the SE Jonah Field within the Greater Green River Basin in the Rocky Mountains area of Wyoming. The Company intends to become an intermediate level oil and gas producer within the next 24 months.
The Jonah Field and the Pinedale Anticline are acknowledged as the premier gas fields in the Rocky Mountains and expected to contain almost 8.0 – 15.0 TCF (trillion cubic feet) of natural gas. The Jonah Prospects acquired by Grid Petroleum in Greater Green River Basin Wyoming, are spread over 3,740 acres of high impact gas leases and are located in the second largest proven gas reserve in the North America. The entire Jonah Field prospect contains approximately 8.0-15.0 TCF of natural gas. In particular, the South and West Jonah could hold approximately 37 BCF and 111 BCF of recoverable gas reserves, respectively.
Independent studies focused on these oil and gas reserves have outlined that on an average of each well (using 40 acre well spacing) the asset could hold a minimum of 1.0 – 3.0 BCF of recoverable gas. On the higher side, it is estimated that recoverable gas from each of these wells could be as high as 3.0 – 5.0 BCF per well. The study also states that infill drilling could double these reserves per well, or more. Based on these factors, it is estimated that these prospects would yield a reserve between 37 BCF to 111 BCF of recoverable gas reserves. On the higher side, these prospects would yield a reserve between 64 BCF to 1.3 TCF of recoverable gas reserves.
Wyoming's geologic basins contain some of the largest fossil fuel deposits in the United States. As of 2007, Wyoming is ranked 5th in production of crude oil and 2nd in natural gas production. The State of Wyoming produced 2,254 trillion cubic feet of natural gas and 53.4 million barrels of crude oil in 2007. A total of 3,112 wells were drilled and completed in 2007, of which 4.9% found oil, 92.4% found gas, and 2.7% were dry holes. This highlights the high success rate of discovering oil and gas in Wyoming.
Jonah and Pinedale Anticline Fields are located in Sublette County, Wyoming. Both these fields are acknowledged as the premier gas fields in the Greater Green River Basin. Sublette County is one of the most prolific gas producing regions in Wyoming. There has been significant growth in gas drilling activities in this region. According to the Wyoming State Geological Survey, the Greater Green River Basin contains approximately 26 TCF of natural gas, the single largest reserve in the State.
Paul Watts, CEO of Grid Petroleum, said: “Acquiring these assets in such a prime location for natural gas reserves is an extremely positive move for Grid. This area has long been regarded as one of the highest quality sites in North America and I look forward to beginning development work on the property. We are looking forward to receiving the prospect report from Schlumberger, as we see this as a sensible move as a first stage of appraisal. With their vast experience and their cutting edge technology, we will be better placed to maximize the potential of our acquisition, and understand the scale of our undeveloped resource”.
The US government is interested in increasing domestic production of natural gas to break the dependence on foreign oil and reach clean energy goals. Wyoming is second only to Texas with regard to proven reserves of natural gas; and its reserve base has been growing significantly in recent years.
Declining conventional oil and gas discoveries, rise in exploration and production costs, and increasing dependence on foreign oil and higher oil prices have resulted in renewed focus on domestic oil and gas production. Furthermore, emerging markets such as China and India, poor geopolitics in key oil producing areas, and economic slowdown in developed nations are likely to place continued pressure on the demand-supply of oil and natural gas.
According to a research report by Cohen Independent Research Group, Inc., they expect the Company to have revenues of $5.4 million for FYE 2010 and more than $145.7 million by 2016. The Company is also expected to efficiently manage operations and command significantly higher operating margins and net profit margins. The Cohen report also gives the Company a price index target of $2.26, significantly higher than today's trading level.
Looking at the Company from a technical standpoint, it's clear to see that this stock is currently in the midst of a serious up-trend. The stock has been trading up almost every day since it began trading on the OTCBB back at the end of 2009. What is more interesting to note is that volume has been increasing steadily and has just gone rampant the last week or so, and as most investors know, volume spikes are great indicators of price movement, and in this case it's upward price movement.
The stock closed today at $1.20, it's 52 week high and the highest volume day since it began trading. What has definately gotten us excited is the fact that the stock has been running purely on technicals as there has been no recent press releases or any other fundamental change that would warrant the price move. Maybe the Company is on the cusp of a major announcement and insiders are buying? We simply don't know, but like the Company from a fundamental standpoint, so strong technical indicators are only helping a positive situation.
The stock continues to trade alongside the outer bollinger band, indicating more potential upward appreciation. The MACD just crossed over into bullish territory two days ago and the 10 period EMA continues to further separate from the 50 period EMA, indicating more potential bullish trading in the stock. Overall, most technicals are strongly pointing upward, however a small concern that the stock may be in an overbought position could be emerging. That being said, with the relatively low trading volume over the previous few months, the overbought readings are most likely inaccurate and with the recent price and volume breakout only occurring a few days ago, further upside potential is looking more accurate.
That being said, we feel that it is always prudent to discuss stop-loss points in case the stock doesn`t go in the direction that was hoped for. Looking at support levels for the stock, there seems to be strong support in the $0.80 range, as well as minor support around $1.00 so stop-losses in those price ranges, depending on your risk tolerance are always encouraged to protect ones investment. Remember, these are only our interpretations of GRPR`s stock chart and as always, we encourage all investors to do their own due diligence and consult with a financial advisor prior to making any investment decisions.
This Company's flagship property is located on some of the largest fossil fuel deposits in the United States, the Company has made independent studies that show the massive oil and gas reserves on the property and are currently entrenched in a massive up-trend from a technical standpoint. For these reasons and others, AllPennyStocks.com decided to highlight Grid Petroleum Corp. (OTCBB:GRPR) as our latest U.S. Company Spotlight and encourage our investors to do their own due diligence on the Company and keep GRPR on their watch list.
Company Projects
The Company is planning to build a diversified and balanced portfolio of assets with both oil and gas exploration and production properties in prolific regions across North America. Grid Petroleum has already completed the acquisition of gas assets within the Jonah Prospect region of Wyoming, USA.
Jonah Prospects, Greater Green River Basin, Sublette County, Wyoming
Grid Petroleum recently announced that it has officially acquired oil and gas prospects within the SE Jonah Field. The Jonah Prospect is spread across over 3,740 acres and this final agreement has been signed pursuant to the Letter of Intent signed earlier this year.
Independent studies focused on these oil and gas reserves have outlined that on an average of each well (using 40 acre well spacing) the asset could hold a minimum of 1.0 – 3.0 BCF of recoverable gas. On the higher side, it is estimated that recoverable gas from each of these wells could be as high as 3.0 – 5.0 BCF per well. The study also states that infill drilling could double these reserves per well, or more. Based on these factors, it is estimated that these prospects would yield a reserve between 37 BCF to 111 BCF of recoverable gas reserves. On the higher side, these prospects would yield a reserve between 64 BCF to 1.3 TCF of recoverable gas reserves.
Sublette County, Wyoming State
Wyoming?s geologic basins contain some of the largest fossil fuel deposits in the United States. As of 2007, Wyoming is ranked 5th in production of crude oil and 2nd in natural gas production. The State of Wyoming produced 2,254 trillion cubic feet of natural gas and 53.4 million barrels of crude oil in 2007. A total of 3,112 wells were drilled and completed in 2007, of which 4.9% found oil, 92.4% found gas, and 2.7% were dry holes. This highlights the high success rate of discovering oil and gas in Wyoming.
Jonah and Pinedale Anticline Fields are located in Sublette County, Wyoming. Both these fields are acknowledged as the premier gas fields in the Greater Green River Basin. Sublette County is one of the most prolific gas producing regions in Wyoming. There has been significant growth in gas drilling activities in this region. According to the Wyoming State Geological Survey, the Greater Green River Basin contains approximately 26 TCF of natural gas, the single largest reserve in the State.
Wolf show up
what was he saying
they like releasing news in june july august maybe a series of prs to get this moving
i dont know
with news this should take off posters will be saying to the moon like before
me too
why is ask at 0.25
they want to make money so they will make their best move to do that
grid new wyoming address and phone number http://www.streetinsider.com/SEC+Filings/Form++8-K++++++++Grid+Petroleum+Corp.++++++For%3A+Jun+01/10612509.html
2010 do they still own them or trade kreg trend for wyoming land for natural gas drilling i bet their aim is to drill and sell natural gas since they wanted to do that before and with oil glut and low prices
wyoming American Company Spotlight
Information As Of April 20, 2010
Exchange: OTCBB Market Cap: 78.1 Million
Outstanding Shares: 65.1 Million 52 Low / High: $0.55 / $1.20
Price April 20, 2010: $1.20 GRPR Recent Stock Quote and News: Click Here
"The Jonah Field and the Pinedale Anticline are acknowledged as the premier gas fields in the Rocky Mountains and expected to contain almost 8.0 – 15.0 TCF (trillion cubic feet) of natural gas. The Jonah Prospects acquired by Grid Petroleum in Greater Green River Basin Wyoming, are spread over 3,740 acres of high impact gas leases and are located in the second largest proven gas reserve in the North America."
Overview
Grid Petroleum Corp. is a London, UK based Independent Oil and Gas Exploration Company, with an operational office in Denver Colorado. Grid has recently secured assets in Wyoming, neighbouring the prolific Jonah Gas Field.
Investment Highlights
Major Acquisition. The Company announced the acquisition of assets in the SE Jonah Field, an area of premium natural gas reserves within the Greater Green River Basin in the Rocky Mountains area of Wyoming. This final agreement has been signed pursuant to the Letter Of Intent (LOI) signed earlier this year. Regarded as one of the foremost gas fields in the Rocky Mountains, the Green River Basin area contains approximately 26 TCF (Trillion Cubic Feet) of natural gas, with the Jonah Field estimated to contain 7 to 10 TCF according to the Wyoming State Geological Survey. The Jonah Field currently produces from in excess of 500 wells.
Strong Analyst Recommendation. According to a research report by Cohen Independent Research Group, Inc., they expect the Company to have revenues of $5.4 million for FYE 2010 and more than $145.7 million by 2016. The Cohen report also gives the Company a price index target of $2.26, significantly higher than today's trading level.
Industry Shifts Bode Well For Company. Declining conventional oil and gas discoveries, rise in exploration and production costs, and increasing dependence on foreign oil and higher oil prices have resulted in renewed focus on domestic oil and gas production.
Technical Report Highlights. The Company recently announced the completion of a technical report by a world leader in Oilfield Services, Schlumberger. Schlumberger’s report evaluates Grid Petroleum’s SE Jonah Prospect in Sublette County, Wyoming. In completing the evaluation the report cites a base case EUR estimate of 292.4 Billion standard cubic feet (Bscf) and a high case estimate of EUR 1280.8 Bscf. and has recommended the acquisition of additional seismic data over the prospect to allow for greater subsurface control and better positioning of drilling locations.
Important Geologic Location. Wyoming's geologic basins contain some of the largest fossil fuel deposits in the United States. As of 2007, Wyoming is ranked 5th in production of crude oil and 2nd in natural gas production. The State of Wyoming produced 2,254 trillion cubic feet of natural gas and 53.4 million barrels of crude oil in 2007.
Profile
Global oil demand declined in 2009 for the second consecutive year, the first time since 1983 that this has occurred. The decline bottomed out in the middle of 2009, as the world economy began to recover in the last half of the year. The global market for oil and gas is expected to tighten in 2010 and 2011 driven by the positive recovery in the global economy. Developing and under-developed economies and other countries outside the OECD are expected to lead the demand recovery. Furthermore, the demand for oil in developed nations will also grow in response to improving economic conditions. China and India continue to lead world consumption growth.
The recent cuts announced by the Organization of the Petroleum Exporting Countries (OPEC) have weakened the global market for oil. This has led to global oil and gas inventories and spare production capacity. This coupled with expectations of a continued global economic turnaround have resulted in the reinforcement of the global oil markets. This reinforcement of the global oil market bodes well for a new-comer to the industry, and this Company is already making significant waves in the prolific geologic basin in Wyoming, USA.
Grid Petroleum Corporation (OTCBB:GRPR) is a start-up organization, focused on the acquisition, development, exploration and production (E&P) of oil and gas properties across North America. The Company?s first acquisition was the Jonah Project. The Company has acquired a working interest in oil and gas prospects within the Jonah Field region of Wyoming, USA. Grid Petroleum is looking at a couple of more assets to expand its portfolio. Grid has recently acquired, from Murrayfield Limited, assets in the SE Jonah Field within the Greater Green River Basin in the Rocky Mountains area of Wyoming. The Company intends to become an intermediate level oil and gas producer within the next 24 months.
The Jonah Field and the Pinedale Anticline are acknowledged as the premier gas fields in the Rocky Mountains and expected to contain almost 8.0 – 15.0 TCF (trillion cubic feet) of natural gas. The Jonah Prospects acquired by Grid Petroleum in Greater Green River Basin Wyoming, are spread over 3,740 acres of high impact gas leases and are located in the second largest proven gas reserve in the North America. The entire Jonah Field prospect contains approximately 8.0-15.0 TCF of natural gas. In particular, the South and West Jonah could hold approximately 37 BCF and 111 BCF of recoverable gas reserves, respectively.
Independent studies focused on these oil and gas reserves have outlined that on an average of each well (using 40 acre well spacing) the asset could hold a minimum of 1.0 – 3.0 BCF of recoverable gas. On the higher side, it is estimated that recoverable gas from each of these wells could be as high as 3.0 – 5.0 BCF per well. The study also states that infill drilling could double these reserves per well, or more. Based on these factors, it is estimated that these prospects would yield a reserve between 37 BCF to 111 BCF of recoverable gas reserves. On the higher side, these prospects would yield a reserve between 64 BCF to 1.3 TCF of recoverable gas reserves.
Wyoming's geologic basins contain some of the largest fossil fuel deposits in the United States. As of 2007, Wyoming is ranked 5th in production of crude oil and 2nd in natural gas production. The State of Wyoming produced 2,254 trillion cubic feet of natural gas and 53.4 million barrels of crude oil in 2007. A total of 3,112 wells were drilled and completed in 2007, of which 4.9% found oil, 92.4% found gas, and 2.7% were dry holes. This highlights the high success rate of discovering oil and gas in Wyoming.
Jonah and Pinedale Anticline Fields are located in Sublette County, Wyoming. Both these fields are acknowledged as the premier gas fields in the Greater Green River Basin. Sublette County is one of the most prolific gas producing regions in Wyoming. There has been significant growth in gas drilling activities in this region. According to the Wyoming State Geological Survey, the Greater Green River Basin contains approximately 26 TCF of natural gas, the single largest reserve in the State.
Paul Watts, CEO of Grid Petroleum, said: “Acquiring these assets in such a prime location for natural gas reserves is an extremely positive move for Grid. This area has long been regarded as one of the highest quality sites in North America and I look forward to beginning development work on the property. We are looking forward to receiving the prospect report from Schlumberger, as we see this as a sensible move as a first stage of appraisal. With their vast experience and their cutting edge technology, we will be better placed to maximize the potential of our acquisition, and understand the scale of our undeveloped resource”.
The US government is interested in increasing domestic production of natural gas to break the dependence on foreign oil and reach clean energy goals. Wyoming is second only to Texas with regard to proven reserves of natural gas; and its reserve base has been growing significantly in recent years.
Declining conventional oil and gas discoveries, rise in exploration and production costs, and increasing dependence on foreign oil and higher oil prices have resulted in renewed focus on domestic oil and gas production. Furthermore, emerging markets such as China and India, poor geopolitics in key oil producing areas, and economic slowdown in developed nations are likely to place continued pressure on the demand-supply of oil and natural gas.
According to a research report by Cohen Independent Research Group, Inc., they expect the Company to have revenues of $5.4 million for FYE 2010 and more than $145.7 million by 2016. The Company is also expected to efficiently manage operations and command significantly higher operating margins and net profit margins. The Cohen report also gives the Company a price index target of $2.26, significantly higher than today's trading level.
Looking at the Company from a technical standpoint, it's clear to see that this stock is currently in the midst of a serious up-trend. The stock has been trading up almost every day since it began trading on the OTCBB back at the end of 2009. What is more interesting to note is that volume has been increasing steadily and has just gone rampant the last week or so, and as most investors know, volume spikes are great indicators of price movement, and in this case it's upward price movement.
The stock closed today at $1.20, it's 52 week high and the highest volume day since it began trading. What has definately gotten us excited is the fact that the stock has been running purely on technicals as there has been no recent press releases or any other fundamental change that would warrant the price move. Maybe the Company is on the cusp of a major announcement and insiders are buying? We simply don't know, but like the Company from a fundamental standpoint, so strong technical indicators are only helping a positive situation.
The stock continues to trade alongside the outer bollinger band, indicating more potential upward appreciation. The MACD just crossed over into bullish territory two days ago and the 10 period EMA continues to further separate from the 50 period EMA, indicating more potential bullish trading in the stock. Overall, most technicals are strongly pointing upward, however a small concern that the stock may be in an overbought position could be emerging. That being said, with the relatively low trading volume over the previous few months, the overbought readings are most likely inaccurate and with the recent price and volume breakout only occurring a few days ago, further upside potential is looking more accurate.
That being said, we feel that it is always prudent to discuss stop-loss points in case the stock doesn`t go in the direction that was hoped for. Looking at support levels for the stock, there seems to be strong support in the $0.80 range, as well as minor support around $1.00 so stop-losses in those price ranges, depending on your risk tolerance are always encouraged to protect ones investment. Remember, these are only our interpretations of GRPR`s stock chart and as always, we encourage all investors to do their own due diligence and consult with a financial advisor prior to making any investment decisions.
This Company's flagship property is located on some of the largest fossil fuel deposits in the United States, the Company has made independent studies that show the massive oil and gas reserves on the property and are currently entrenched in a massive up-trend from a technical standpoint. For these reasons and others, AllPennyStocks.com decided to highlight Grid Petroleum Corp. (OTCBB:GRPR) as our latest U.S. Company Spotlight and encourage our investors to do their own due diligence on the Company and keep GRPR on their watch list.
Company Projects
The Company is planning to build a diversified and balanced portfolio of assets with both oil and gas exploration and production properties in prolific regions across North America. Grid Petroleum has already completed the acquisition of gas assets within the Jonah Prospect region of Wyoming, USA.
Jonah Prospects, Greater Green River Basin, Sublette County, Wyoming
Grid Petroleum recently announced that it has officially acquired oil and gas prospects within the SE Jonah Field. The Jonah Prospect is spread across over 3,740 acres and this final agreement has been signed pursuant to the Letter of Intent signed earlier this year.
Independent studies focused on these oil and gas reserves have outlined that on an average of each well (using 40 acre well spacing) the asset could hold a minimum of 1.0 – 3.0 BCF of recoverable gas. On the higher side, it is estimated that recoverable gas from each of these wells could be as high as 3.0 – 5.0 BCF per well. The study also states that infill drilling could double these reserves per well, or more. Based on these factors, it is estimated that these prospects would yield a reserve between 37 BCF to 111 BCF of recoverable gas reserves. On the higher side, these prospects would yield a reserve between 64 BCF to 1.3 TCF of recoverable gas reserves.
Sublette County, Wyoming State
Wyoming?s geologic basins contain some of the largest fossil fuel deposits in the United States. As of 2007, Wyoming is ranked 5th in production of crude oil and 2nd in natural gas production. The State of Wyoming produced 2,254 trillion cubic feet of natural gas and 53.4 million barrels of crude oil in 2007. A total of 3,112 wells were drilled and completed in 2007, of which 4.9% found oil, 92.4% found gas, and 2.7% were dry holes. This highlights the high success rate of discovering oil and gas in Wyoming.
Jonah and Pinedale Anticline Fields are located in Sublette County, Wyoming. Both these fields are acknowledged as the premier gas fields in the Greater Green River Basin. Sublette County is one of the most prolific gas producing regions in Wyoming. There has been significant growth in gas drilling activities in this region. According to the Wyoming State Geological Survey, the Greater Green River Basin contains approximately 26 TCF of natural gas, the single largest reserve in the State.
Grid Petroleum Corp. Website: Click Here
Information As Of April 20, 2010
Exchange: OTCBB Market Cap: 78.1 Million
Outstanding Shares: 65.1 Million 52 Low / High: $0.55 / $1.20
Price April 20, 2010: $1.20 GRPR Recent Stock Quote and News: Click Here
"The Jonah Field and the Pinedale Anticline are acknowledged as the premier gas fields in the Rocky Mountains and expected to contain almost 8.0 – 15.0 TCF (trillion cubic feet) of natural gas. The Jonah Prospects acquired by Grid Petroleum in Greater Green River Basin Wyoming, are spread over 3,740 acres of high impact gas leases and are located in the second largest proven gas reserve in the North America."
Overview
Grid Petroleum Corp. is a London, UK based Independent Oil and Gas Exploration Company, with an operational office in Denver Colorado. Grid has recently secured assets in Wyoming, neighbouring the prolific Jonah Gas Field.
Investment Highlights
Major Acquisition. The Company announced the acquisition of assets in the SE Jonah Field, an area of premium natural gas reserves within the Greater Green River Basin in the Rocky Mountains area of Wyoming. This final agreement has been signed pursuant to the Letter Of Intent (LOI) signed earlier this year. Regarded as one of the foremost gas fields in the Rocky Mountains, the Green River Basin area contains approximately 26 TCF (Trillion Cubic Feet) of natural gas, with the Jonah Field estimated to contain 7 to 10 TCF according to the Wyoming State Geological Survey. The Jonah Field currently produces from in excess of 500 wells.
Strong Analyst Recommendation. According to a research report by Cohen Independent Research Group, Inc., they expect the Company to have revenues of $5.4 million for FYE 2010 and more than $145.7 million by 2016. The Cohen report also gives the Company a price index target of $2.26, significantly higher than today's trading level.
Industry Shifts Bode Well For Company. Declining conventional oil and gas discoveries, rise in exploration and production costs, and increasing dependence on foreign oil and higher oil prices have resulted in renewed focus on domestic oil and gas production.
Technical Report Highlights. The Company recently announced the completion of a technical report by a world leader in Oilfield Services, Schlumberger. Schlumberger’s report evaluates Grid Petroleum’s SE Jonah Prospect in Sublette County, Wyoming. In completing the evaluation the report cites a base case EUR estimate of 292.4 Billion standard cubic feet (Bscf) and a high case estimate of EUR 1280.8 Bscf. and has recommended the acquisition of additional seismic data over the prospect to allow for greater subsurface control and better positioning of drilling locations.
Important Geologic Location. Wyoming's geologic basins contain some of the largest fossil fuel deposits in the United States. As of 2007, Wyoming is ranked 5th in production of crude oil and 2nd in natural gas production. The State of Wyoming produced 2,254 trillion cubic feet of natural gas and 53.4 million barrels of crude oil in 2007.
they have not said anything its fake isnt there a rule to annouce right away to keep people from buying grpr
to the moon
they like june july and august
it will reach that
13. Offering and Sales Amounts
Total Offering Amount $16,400,000 USD
or Indefinite
Total Amount Sold $16,400,000 USD
Total Remaining to be Sold $0 USD
or Indefinite
Clarification of Response (if Necessary):
i would make 778140
it will happen
it could go as high as 0.020
DENVER, CO--(Marketwired - Jun 30, 2014) - Grid Petroleum Corp. (PINKSHEETS: GRPR): The Board of Directors are pleased to announce that Grid Petroleum has entered into a strategic funding agreement with Santa Rosa Resources Inc, a privately held Delaware corporation, for the development of Grid Petroleum's leases in the Kreyenhagen Trend Properties located in the San Joaquin Valley of Central California.
Santa Rosa Resources is currently engaged in a Reg. D, rule 506(c) joint venture offering to fund the drilling of ten wells on the Kreyenhagen Trend leases owned by Grid Petroleum. Santa Rosa Resources' CEO stated, "We are looking forward to drilling five wells into the shallow Temblor Formation as well as five into the Kreyenhagen, Avenal and Monterey Shale Formations. We are hoping to produce between 2,000 and 3,000 barrels a day from the wells once the drilling program is completed."
Grid Petroleum President James Powell remarked, "We are looking forward to developing these leases and hopefully other leases in the future with Santa Rosa Resources. This mutually beneficial arrangement will assist Grid Petroleum in executing its business plan and achieving its long term goals."
The company plans to begin the mapping planning and drill site selection process for the development of these ten wells.
Upon completion of the planning process the company will then be making Drilling Permit applications for its first development well.
The company will be the Operator of these lease holdings.
Grid Petroleum Corp. is a development stage company focused on the acquisition and development of low cost high reward oil and gas prospects with infield drilling for proven potential reserves in the United States and Canada.
I wonder if it will hit 0.001 today
there have been some small buys and slot of people holding st high price this will jump past the 2s with belivable news