$OREO is an oil and gas exploration company. The Company’s aim is to reduce America’s need for imported oil through the discovery of major, new onshore U.S. energy resources and by tapping overlooked or undervalued onshore domestic resources through innovative exploration and development technologies.
The following are a few key highlights that really make OREO stand out:
OREO’s properties are sitting on an estimated 4.6 billion barrels of oil!
At the current price of about $91 per barrel their estimated reserves could be valued at as much as $427 BLN in estimated reserves.
OREO already has 2 projects underway that could potentially lead to big revenues!
In a recent report OREO was given a price target of $3.85 per share!
The US is continuing to experience massive increases in the demand for energy!
A third party recently projected revenues of approximately $5.75 mln in 2014 and $63.023 mln in 2017.
OREO is looking to capitalize with their current projects located in the under explored state of Nevada.
OREO’s Gabbs Valley Project is located on the 26,000-acre Cobble Cuesta structure, which is estimated to represent over 4 billion barrels of oil.
The Kibby Flat Project is located in the 7,270-acre Monte Cristo basin, which represents an estimated ultimate recovery of as high asaccording to a 2008 report. 669 mln barrels of oil
Even if just a small part of the reserves are present in the Cobble Cuesta structure, it will account for huge oil accumulation for OREO and subsequently large projected revenues!
Also, the Company recently acquired a 60% working interest in Nevada-based BLM Lease NVN090504.
The 1,760-acre lease is located on the underexplored Cobble Cuesta structure in the northwest part of Gabbs Valley. The new lease is considered part of OREO’s Gabbs Valley Prospect due to its close proximity to the prospect’s other two leases: the 2,557-acre Gabbs Valley lease and the 3,840-acre Cortez lease.
OREO recently signed an engagement letter with Netherland, Sewell & Associates to provide consulting services needed to assist the Company in determining the next steps in the development of its Nevada-based Cortez operation.
With the increasing need of a domestic supply of crude oil in the US the future for OREO could be very promising!
Every single day, the US consumes 19.6 mln barrels of oil out of which 2/3rds are comprised by country imports. With the US focused on increasing domestic production, OREO has been working to put themselves in a great position to capitalize on this market.
