[b]$BOPT[/b] Eco-Trade Corp. (BOPT) Announces Anticipated Receipt of Independent Engineering Report from Renowned Firm That Has Been Engaged to Provide Reserve Estimates
Company positioned in middle of newest major oil play in America
GREAT FALLS, Mont., [b][color=blue]Apr 11, 2013[/color][/b] (BUSINESS WIRE) -- Eco-Trade Corp. (OTCQB: BOPT), an independent oil and gas exploration Company, announces its anticipated receipt of an Independent Engineering Report through the Company's engagement of Integrated Petroleum Technologies Inc. (IPT) to provide an Engineering Report on its Bakken Prospect.
IPT is a petroleum engineering services company managed by practicing petroleum engineers that have extensive operator and service company experience. They specialize in most aspects associated with the preparation of reserve reports, integration of modern well completion, hydraulic fracture stimulation and petroleum reservoir engineering technologies in horizontal and vertical wells. IPT has a very large number of clients and is very well respected in the industry by major oil and gas companies. Please visit their client page at http://www.iptengineers.com/IPT-Clients.HTML.
Energy companies update their investors on the amount of oil and natural gas reserves they have access to through a reserve update. This update typically includes proved, probable and possible reserves, and is similar to an inventory report that a retailer might provide to investors.
The total amount of reserves that a company estimates having access to, is calculated as the sum of all proved and unproved reserves. Unproved reserves are broken into two segments: those based on geological and engineering estimates from proved sources (probable) and those that are less likely to be extracted due to financial or technical difficulties (possible).
Once the Company has received this report it will be able to file with The United States Securities and Exchange Commission which permits oil and gas companies to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions.
Canon Bryan, CEO of Eco-Trade, noted, "Our first goal is to identify oil and gas property targets in areas known to have production and/or strong production potential. By mitigating risk early on, we have the potential for strong upside economics with higher than industry average margins."
About Eco-Trade
Eco-Trade is fully-reporting, independent oil and gas exploration company, that has drilling and production rights on a property in Lewis & Clark County in Montana, near Great Falls totaling over 5,800 acres called the South Bakken Prospect. Please visit www.ecotradecorporation.com.
