"Since December, they’ve proven to me to be doers."
I'm also impressed by this. No PRs till 90 days ago, they've just got back on their feet and have come quite a ways in that time. I like that they're trying to become a well rounded O&G company ... owner/operator/services company/petrochemical company. Nice vision coming from the CEO.
90 days in a nutshell ...
Dec. 18, 2006 - today announced it will purchase several work-over rigs from Economy Mfg. and Oilfield Equipment Co.
Dec 19, 2006 - delighted to announce it has completed a Letter of Intent to Merge with ESP Resources, Inc. (ESP) of Houston, TX.
Jan 3, 2007 - is pleased to announce it has renewed its Oil Field Services contract with The Money People, Inc. (TMP) an Oil and Gas Investment Company of California. TMP have utilized Well Renewals Oil Field Services division for the past six months. During this period TMP have successfully purchased and developed Oil and Gas leases with over 50 wells and WRNW's Field Services division has successfully reworked 21 of these wells in 4th quarter and is currently scheduled to rework an additional 30 wells in 1st quarter 2007 in NE OK.
Jan 4, 2007 - today announced it has completed the merger and acquisition of Pro-Formance Oil Field Services, LLC. Well Renewal is also delighted to announce that Jerry Ennis, President of Pro-Formance will join WRNW's management team as President of WRNW's Oil Field Services division.
Jan 9, 2007 - today announced it will immediately begin the completion of the Birdsell 999-05 well that has been drilled in the Roe Coal Seam, a coal bed methane formation on WRNW's Liston lease in NE OK.
Feb 12, 2007 - has negotiated the purchase of a 785-acre lease package. The lease package is located in Rogers County in northeast Oklahoma. Numerous wells were drilled on the prospect acreage between 1960 and 1985. Production from the leases reached maximum levels of 4,000 barrels
Feb 27, 2007 - is pleased to announce the initial drilling program to re-work up to 21 wells on the Gulley lease located in Northeast Oklahoma. In addition to working over the 21 wells, the strategic plan also calls for drilling two new wells to the Upper Arbuckle Formation.
Nice start IMO.
