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Baron Energy, Inc. Provides an Update on Its

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Timothy Smith   Monday, 07/16/12 10:37:05 AM
Re: ctine2020 post# 177
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Baron Energy, Inc. Provides an Update on Its Texas Panhandle Oil Reactivation Program

Jul 16, 2012 5:00:00 AM
2012 GlobeNewswire, Inc.

SAN MARCOS, Texas, July 16, 2012 (GLOBE NEWSWIRE) -- Baron Energy, Inc. (Pink Sheets:BROE) ("Baron" or the "Company"), an independent oil and gas company, announced today the continuation of Phase 3 of its Texas Panhandle oil reactivation program and its intentions to proceed with Phase 4 immediately after the completion of Phase 3.

Management Comments

Ronnie L. Steinocher, President and CEO, said, "The completion of Phase 3 was delayed due to severe weather and downed electric power lines. Necessary repairs have been made and we have recommenced field operations for Phase 3. Phase 3 should be completed near the end of July at which time at least 22 oil wells will be on production."

Mr. Steinocher added, "Based on the positive production results to date, a Phase 4 will definitely be implemented on this project. We currently are planning to begin Phase 4 immediately upon completion of Phase 3."

About Baron Energy, Inc.

Baron Energy, Inc. (Pink Sheets:BROE) is an independent oil and gas acquisition, production, exploitation, and exploration company headquartered in San Marcos, Texas, with producing assets in North and West Texas.

Baron owns production that is 99% oil, both operated and non-operated, with working interests ranging from 12.5% to 100% in oil fields located in Archer, Baylor, Garza, Hutchinson, Jones, Runnels, Scurry, Taylor, and Young counties, Texas.

Baron's growth strategy centers on making accretive acquisitions, production enhancement programs, reactivation projects, and in-fill drilling, all within the Company's core area of North and West Texas.

For more information, please visit www.baronenergy.com.

"My well came in big, so big, Bick and there's more down there and there's bigger wells. I'm rich, Bick. I'm a rich 'un. I'm a rich boy." - Jett Rink
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