It has been posted on Ihub that Xun Energy has not
Post# of 2009
Posted On: 08/20/2014 5:50:27 PM
It has been posted on Ihub that Xun Energy has not sold one cup of oil in its existence.
This is in fact false. When Xun Energy had their operations in Kentucky, they did produce a re-work on a well, well permit XUN001. The wellbore was damaged, but they were able to re-work it and produce some oil. Per the company website under Corporate, Corporate History 2010-2011:
“On March 4, 2011, Xun Energy produced 10 barrels of Kentucky sweet crude oil from its first workover oil well, XUN001. This was an important milestone for the Company as we sold the oil which generated the first revenue for the Company in its history of operations. Unfortunately, the well bore was badly damaged from a previous workover and ceased producing after several days of production. The Company abandoned the oil well as the cost of repairing the damage was greater than drilling a new offset well.”
To collaborate, check out this 8-K dated April 15, 2011
http://www.otcmarkets.com/edgar/GetFilingHtml...ID=7867497
This 8-K stated that they successfully re-worked the well and is not considered a shell company. It further states that they produced 31 barrels of marketable oil. Quoted from the 8-K:
“The workover program for well number XUN001 was supervised and managed by our Field Operations Manager and coordinated with our Financial and Operations Consultant. We utilized the services of several local contractors that specialize in workover programs such as an experienced contractor that provided labor and equipment including a service rig and an experienced contractor that filmed the wellbore during our inspection and evaluation of the wellbore.During the month of March, 2011, XUN OIL, produced 31 barrels of marketable oil from one of its oil wells as a result of the workover program on the oil well, well number XUN001. “
I am fairly new to the stock, so if I missed anything please post corrections.
Have a good day all.
This is in fact false. When Xun Energy had their operations in Kentucky, they did produce a re-work on a well, well permit XUN001. The wellbore was damaged, but they were able to re-work it and produce some oil. Per the company website under Corporate, Corporate History 2010-2011:
“On March 4, 2011, Xun Energy produced 10 barrels of Kentucky sweet crude oil from its first workover oil well, XUN001. This was an important milestone for the Company as we sold the oil which generated the first revenue for the Company in its history of operations. Unfortunately, the well bore was badly damaged from a previous workover and ceased producing after several days of production. The Company abandoned the oil well as the cost of repairing the damage was greater than drilling a new offset well.”
To collaborate, check out this 8-K dated April 15, 2011
http://www.otcmarkets.com/edgar/GetFilingHtml...ID=7867497
This 8-K stated that they successfully re-worked the well and is not considered a shell company. It further states that they produced 31 barrels of marketable oil. Quoted from the 8-K:
“The workover program for well number XUN001 was supervised and managed by our Field Operations Manager and coordinated with our Financial and Operations Consultant. We utilized the services of several local contractors that specialize in workover programs such as an experienced contractor that provided labor and equipment including a service rig and an experienced contractor that filmed the wellbore during our inspection and evaluation of the wellbore.During the month of March, 2011, XUN OIL, produced 31 barrels of marketable oil from one of its oil wells as a result of the workover program on the oil well, well number XUN001. “
I am fairly new to the stock, so if I missed anything please post corrections.
Have a good day all.
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The fault-finder will find faults even in paradise. -Henry David Thoreau
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