Sebastian River Holdings, Inc. and Drake Gold Resources, Inc. Strike Oil in Master Lease Joint Venture
28 Marzo 2013 - 7:30AM
Business Wire
Sebastian River Holdings, Inc. (OTC:SBRH) and Drake Gold
Resources, Inc. (DKGR) are pleased to announce that their secondary
drilling Joint Venture in Western Pennsylvania has received a
positive report on oil production for the JV’s Master lease.
The JV’s Operator, Chris Repasky has reported that four target
wells on the lease were tested this week. Management is thrilled
with the results. According to Repasky, two of the four wells
produced salt water (also known as drilling fluid disposal), which
is a strong indicator for presence of oil and another is producing
oil.
The JV will be testing additional wells toward a minimum of five
target wells can be identified to begin reworks. Other wells will
be repaired toward additional production output and further details
are forthcoming via website updates and/or press release on what
the team is confident will result in a profitable venture toward
expansion and continued growth.
This release includes forward-looking statements, which are
based on certain assumptions and reflects management’s current
expectations. These forward-looking statements are subject to a
number of risks and uncertainties that could cause actual results
or events to differ materially from current expectations. Some of
these factors include: general global economic conditions; general
industry and market conditions, sector changes and growth rates;
uncertainty as to whether our strategies and business plans will
yield the expected benefits; increasing competition; availability
and cost of capital; the ability to identify and develop and
achieve commercial success; the level of expenditures necessary to
maintain and improve the quality of services; changes in the
economy; changes in laws and regulations, including codes and
standards, intellectual property rights, and tax matters; or other
matters not anticipated; our ability to secure and maintain
strategic relationships and distribution agreements. The Company
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Contact: Sebastian River Holdings, Inc. Peter Matousek,
424-258-0167
Global Pole Trusion (PK) (USOTC:GPGC)
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Global Pole Trusion (PK) (USOTC:GPGC)
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