PEII reports 150 additional barrels of oil per month on Edwards lease.
Floyd Smith, President and CEO of Petron Energy II, Inc., states, “We are very pleased with the production results of the Edwards lease, we have only implemented 10% of our secondary recovery plan which involves re-pressurizing the Wilcox and Dutcher pay zones. We believe as we execute the full plan and achieve complete re-pressurization of the Wilcox and Dutcher zones we should realize further production improvements.” Smith goes on to say, “This lease is currently on pace to deliver 150 additional barrels of oil per month. Our management team believes this is just a sample of the type of production performance each lease has the potential to deliver with the complete implementation of our secondary recovery plan.” The company has 18 leases to equip for secondary recovery operations.
