RGNO!!....big news!!
RGNO (.085) Adds Acreage with up to Ten Drill Sites in Proven Field Containing Estimated Reserves Reaching up to 30 Million Dollars of Un-Produced Oil/Gas
Feb 12, 2007 12:31:00 PM
Copyright Business Wire 2007
DALLAS--(BUSINESS WIRE)--
Regions Oil and Gas (Pink Sheets:RGNO) announced that the balance of the Jenkins lease has been added to the existing Maddux and Young Leases.
This field is located in Okmulgee County, Oklahoma and was originally discovered in 1920 with oil production from four zones as follows: Bartlesville Sand at approximately 1,800' the Booch (Tannehall) Sands at approximately 2,100', Dutcher Sands at 2,390' and the Wilcox Sand at approximately 2,830'.
Most of the Bartlesville Sand wells produced only oil with most averaging 75 BOPD. Tannehall Sand production varied widely from 6 BOPD to in excess of 400 BOPD. Some of the early Dutcher Sand gas wells flowed as high as 5 million cubic feet of gas per day and 120 BOPD. In fact there were three wells immediately offsetting this lease that all flowed in excess of 5 million per day.
Records indicate the Wilcox Sand was the most prolific zone. The drilling by the company of the Guadalcanal #2 and the WD #1, confirmed the presence of the indicated Wilcox Sand Formation structurally high, located immediately north of the WD #1.
Jerry Griggs was quoted as saying, "If you combine our low cost per barrel to produce oil and gas with the confirmation of these reserves under our lease, then add in the abundance and advancement in completion technology and the multiple pay zones, we should be able to be productive from any well we drill here. This may be a small lease but the potentials are there and are very real."
About Regions Oil & Gas, Inc.: Regions Oil & Gas Corporation ("Regions" or the "Company") was formed to initiate, manage, acquire, supervise and operate oil and gas ventures and to otherwise engage in the oil and gas industry and exploration business. The Company solicits and acquires from accredited and institutional investors, the capital necessary to lease, develop, and complete oil and gas wells. Their philosophy and strategy is "Bringing New Life to Old Forgotten Fields." The fields in question were generally produced in the early 1900's with the mind set and technology created during the industry's infancy. As a result, these wells have large amounts of oil still in reserves.
Disclaimer:
Certain information included in this communication contains statements that are forward-looking, such as statements relating to the future anticipated direction of the Oil and Gas Industry, plans for expansion, various business development activities, planned capital expenditures, future funding resources, anticipated sales growth and potential contracts. These forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual operations or results to differ materially from those anticipated.
Source: Regions Oil and Gas
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Regions Oil & Gas
Inc.
Jerry Griggs
972-371-2466
1-877-9REGION
info*regionsoil.com
