$BAYP nice day up 25%. $BAYP JV news with Downhole Energy LLC, to purchase the Brown Lease in McIntosh County, OK
Bayport International Holdings, Inc. (BAYP) Is Pleased to Announce a Joint Venture With Downhole Energy, LLC., to Purchase and Rework the Brown Lease in McIntosh County, Oklahoma
TULSA, OK--(Marketwired - Jun 12, 2014) - Bayport International Holdings, Inc. (OTC Pink: BAYP) (PINKSHEETS: BAYP) -- Today we are pleased to announce the signing completion of a contract to acquire 25.0% working Interest in current producing gas wells, the Brown # 2 and the Brown # 5. Bayport along with their joint venture partners will rework these wells to bring more production starting in July 1, 2014. The Brown # 2 was completed in the Cromwell sands, leaving the Gilcrease wide open for gas production. The Brown # 5 well was completed in the Gilcrease and left the Cromwell formation unproduced. Once again leaving good production behind pipe. Downhole Energy, LLC., and partners based out of Rockwall, Texas will assume the rest of the working interest. Each of these wells are anticipated to recover more than 250,000 cubic feet of gas per day.
Bayport plans to release pictures, video and other pertinent data as we proceed through the rework process. We are very excited to JV with another Oil & Gas Company such as Downhole Energy, LLC.
Bayport International Holdings, Inc. is still actively involved with M & K CPAS, PLLC of Houston Texas to complete audits of our 2012 and 2013 financial statements. Additionally, we have engaged the services of Norman Reynolds Law Firm, PC, also of Houston Texas, to complete the necessary SEC filings to achieve Fully Reporting Status. Once SEC Fully Reporting status is achieved, we will migrate to the OTCQB tier.
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