Stoney Plains Resource Corp.
STONEY PLAINS RESOURCES CORP. TARGETS OKLAHOMA OIL LEASE PROPERTIES
Stoney Plains Resource Corp. / Key word(s): Miscellaneous STONEY PLAINS RESOURCES CORP. TARGETS OKLAHOMA OIL LEASE PROPERTIES Toronto, On-September 13, 2011-Stoney Plains Resources Corporation (DE:RPS) Equity, ISIN CA8620181088, WKN A1JDD8, RPS-is completing its due diligence on an oil lease located in Nowata County, Oklahoma with the intent to purchase the properties. The company has received an engineering report confirming probable recoverable reserves of 489.336 bbls. Oklahoma presents a strategic location for the Company’s growth strategy since historically it has been a prolific producer of oil and gas and currently has over 80,000 oil wells producing more than 59 million barrels of oil annually and 1.6 billion Mcf of natural gas, respectively. Nowata County is located in the Central Oklahoma platform, where it merges with the Cherokee basin of southeastern Kansas, in which some of the first commercial oil discoveries for the mid-continent region were made. www.stoneyplainsresource.com About Stoney Plains Resources Corp. Equity, ISIN CA8620181088, WKN A1JDD8, RPS Stoney Plains Resources Corp. is an exploration development integrated oil company with operations in Oklahoma. Our focus is to purchase high value oil leases and bring them into full production. Due to the current economic conditions, several tangible opportunities have become available in areas recognized for proven and continuous oil production. The company has recently secured purchased agreements with oil producers in both Oklahoma and Texas. The Agreement will allow the company to purchase 2.5 million barrels of oil for a fixed discount price. Revenues will be reinvested to acquire undervalued oil wells, with the intention of reworking these wells using the latest oil recovery techniques. Contact: Stoney Plains Resources Corp. Bradley Sauder Corporate Relations 647-930-5396 End of Corporate News 13.09.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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