$MOLOF >> Molori Energy Inc. is pleased to announc
Post# of 94143
(Total Views: 81)
Posted On: 04/12/2017 1:34:19 PM
$MOLOF >> Molori Energy Inc. is pleased to announce that its partner, Ponderosa Energy LLC, has optioned an undivided interest in approximately 4,000 acres with Red Cave rights in Moore County, Texas. The new leases are within a 30 minute drive of its other Panhandle properties, but offer significant blue sky development opportunities. The Red Cave formation, an historically productive reservoir, is approximately 2,500 feet deep and roughly 700 feet shallower than Molori's Brown Dolomite/Granite Wash production. The core focus of the Molori/Ponderosa partnership remains old field redevelopment that has already resulted in production increase from 40 barrels of oil equivalent ("BOEPD"
* since June 2016 to over 400 BOEPD now, an increase in 1P (Total Proven Reserves) from USD $5.15 million to USD $26.9 million as outlined in an updated NI 51-101 reserve report effective January 1, 2017.
Molori Energy Plans to Drill Red Cave Formation; Announces Private Placement Offering
https://www.otcmarkets.com/stock/MOLOF/news/M...93&b=y
* since June 2016 to over 400 BOEPD now, an increase in 1P (Total Proven Reserves) from USD $5.15 million to USD $26.9 million as outlined in an updated NI 51-101 reserve report effective January 1, 2017. Molori Energy Plans to Drill Red Cave Formation; Announces Private Placement Offering
https://www.otcmarkets.com/stock/MOLOF/news/M...93&b=y
(0)
(0)Scroll down for more posts ▼