Bobwins - SYRG
I bought a few shares in a local driller. You might want to give it a 5 minute look see.
Kipp
DENVER, Jan 19, 2011 (BUSINESS WIRE) --
Synergy Resources Corporation (OTCBB: SYRG), a domestic oil and gas
exploration and production company, announced today that it has fracture
stimulated an additional zone (the Codell) in seven wells with the
following results:
24 Hour Test Rates
Well Name SYRG Oil Gas Barrels of Oil Initial
Current
Working (bbls) (mcf) Equivalent Rate Producing
Producing
Interest (BOE) Formation
Formation(s)
Meyer # 4 62.50% 82.6 794.1 215.0 J-Sand
Codell
Meyer # 7 62.50% 82.7 576.4 178.8 J-Sand
Codell
Northridge 11-4D 62.50% 265 1,239.3 471.6 J-Sand
Codell
Northridge 21-4D 62.50% 76.8 410.4 145.2 J-Sand
Codell
SRC Weideman 34-32 62.50% 177.5 444.6 251.6 J-Sand
Codell
Meyer # 2 62.50% 69.4 573.4 165.0 Niobrara
Niobrara & Codell
Northridge 4KD 31.25% 67.9 442.9 141.7 Niobrara
Niobrara & Codell
Ed Holloway, CEO of Synergy stated, "The initial flow rates of these
seven wells with the addition of the Codell zone show encouraging
results. In particular, the Northridge 11-4D well's initial results are
quite remarkable. We have now successfully opened additional zones in 11
wells drilled as part of our initial 36 well program. Exploiting the
potential of the multi-zone is an essential component of our business
strategy as we continue to increase cash flow for our stakeholders while
increasing proven reserves."
About Synergy Resources Corporation
Synergy Resources Corporation is a domestic oil and natural gas
exploration and production company. Synergy's core area of operations is
in the Denver-Julesburg Basin, which encompasses Colorado, Wyoming,
Kansas, and Nebraska. The Wattenberg field in the D-J Basin ranks as the
7th largest field in the U.S. in terms of proved gas reserves and 9th in
production. Synergy continues to increase its acreage position in the
Denver--Julesburg Basin with 21,578 gross acres and 13,633 net acres
under lease. Synergy's corporate offices are located in Platteville,
Colorado. More company news and information is available at www.SYRGinfo.com.
This press release may contain forward-looking statements. The actual
results could differ materially from a conclusion, forecast or
projection in the forward-looking information. Certain material factors
or assumptions were applied in drawing a conclusion or making a forecast
or projection as reflected in the forward-looking information.
SOURCE: Synergy Resources Corporation
Company Contact:
Synergy Resources Corporation
William Scaff
Tel (970) 737-1073
or
Investor Relations:
GVC Advisors
Jon Kruljac
Tel (720) 488-4711
Email jkruljac@gvcadvisors.com
Copyright Business Wire 2011
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