$DKGR.....Going on good news!.. http://www.otcmar
Post# of 98059
$DKGR.....Going on good news!..
http://www.otcmarkets.com/stock/DKGR/news
Drake Gold Resources Operator Confirms: Initial Re-Works Producing Oil
CARSON CITY, Nev., Dec 05, 2012 (BUSINESS WIRE) -- Drake Gold Resources Inc. (OTC: DKGR ), a natural resources company with a focus in oil and gas, announces today that its operator, Chris Repasky, has confirmed that as of last week, the company has 26 barrels of oil in the battery tank and more will be added each day based on current production; in total the company has two tank batteries with a 100 barrel capacity each.
There are currently a number of active wells that have been reworked and are being pumped, each producing varying amounts of oil. Weather permitting; the company will rework additional wells with similar expectations over the coming months.
"This is tremendous news," states DKGR CEO, Peter Matousek. "I am pleased with the progress we have made since July of this year. Chris has worked diligently to exceed our expectations. We have a dedicated team in place working toward a cost-effective plan for growth in revenues and shareholder value."
Continued updates are forthcoming in line with the company's progress on its initial project in Pennsylvania as well as discussions toward additional strategic alliances and/or joint ventures the company feels will serve as leverage for exponential growth.
Safe Harbor Statement: The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the Company is detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.
SOURCE: Drake Gold Resources
CONTACT:
Drake Gold Resources Inc. Peter Matousek, 775-410-4458 CEO IR@DRAKEGOLD.COM
Copyright Business Wire 2012
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KEYWORD: United States
North America
Nevada
INDUSTRY KEYWORD: Energy
Oil/Gas
Professional Services
Finance
SUBJECT CODE: Product/Service
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