Replies to post #17016 on Petron Energy II Inc (fka PEII)

[GreenThumb Investor]

Nice news! It's funny how Ihub shorts aren't showing the news yet. Absurd

[Abondanceinvest]

PEII nice news$ out!50 -- 75BO/D

Petron Energy II, Inc. Provides Update on its Secondary Recovery Operations in Oklahoma
Petron II Commenced Drilling of Saltwater Supply Well
GlobeNewswire Petron Energy II, Inc.
3 hours ago
DALLAS, Texas, April 14, 2014 (GLOBE NEWSWIRE) -- via PRWEB - Petron Energy II, Inc. ("Petron II" or the "Company") (PEII) Petron Energy II, Inc. announced today that it has commenced drilling operations on a saltwater supply well on its Snyder/Simon lease in Wagoner County, Oklahoma.

Petron Energy II, Inc., together with its subsidiaries, engages in the acquisition and development of properties for the production of crude oil and natural gas, the transportation of natural gas through its pipeline subsidiary and well servicing through its servicing subsidiary. The Company's operations are based in the United States.

Floyd Smith, President and CEO of Petron Energy II, Inc., stated, "We are pleased to report this morning we began drilling operations on a saltwater supply well on our Snyder/Simon lease. The saltwater produced and injected from this well along with gas injections are key components in providing pressure needed to recreate reservoir drive. Based on our engineering design we estimate injecting roughly 1,000BSW/D and gas into the reservoir over a period of several months, as pressure is increased our daily oil production levels should begin to show sustained improvement. Once the reservoir has achieved its optimal level of reservoir pressure we anticipate seeing a peak in sustained daily oil production levels from the lease, our analysis estimate the daily range to be 50 -- 75BO/D. We are very excited to announce the beginning of procedures which will allow Petron II to experience full lease development and production operations. This lease is the first of three of our largest leases which we have budgeted for funding this year; all work for the Snyder/Simon should be completed by mid May." Smith goes on to say, "Our goal is to have the second lease (the "Edwards") fully operational by the end of June and the third lease (the "Redder") completed by the end of August."

We will provide more updates as they become available.

About Petron Energy II, Inc.:

Petron Energy II, Inc. is a Dallas-based