Stoney Plains Resource Corp.
Stoney Plains Resource Corp.: STONEY PLAINS RESOURCES CORP. EVALUATING TWO HOUSTON, TEXAS PRODUCING OIL LEASE PROPERTIES WITH POTENTAIL REVENUES OF $10 MILLION USD
Stoney Plains Resource Corp. / Key word(s): Miscellaneous 30.01.2012 / 09:00 --------------------------------------------------------------------- Toronto, ON- Stoney Plains Resources Corp. (DE:RPS) Equity, ISIN CA8620181088, WKN A1JDD8, RPS-as part of the company's two year strategic growth plan Stoney Plains has identified two more oil producing lease properties in the prolific oil rich state of Texas. The Houston located lease properties present two exceptional opportunities that fit the company's growth initiatives. The first Houston, Texas Oil Field is producing an estimated 200 BOPD. There is ongoing development and work over programs with an estimated 250,000 recoverable reserves. With current estimated production at 200 BOPD and a 75% working interest and 75% Net Reserve Interest. The projected gross revenues at 200 BOPD is $540,000 USD per month and $6.25 million annually The second oil field located in Houston presents a massive oil field that is currently producing 70 BOPD with work over commencing to increase production to 100 BOPD. There is tremendous opportunity for extensive development of this oil field. The working interest on this property is 10%. The projected gross revenues at 100 BOPD is $270,000 USD monthly and $3.2 million annually. Stoney Plains Resources focus is on acquiring producing and non-producing oil and gas leases in the U.S. South West and is currently examining five different lease properties. Updates on these potential acquisitions will be made available on the company's website at www.stoneyplainsresource.com and or via press release. ** END OF NEWS RELEASE ** 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. This news release may contain certain forward-looking statements, expectations, intentions, strategies and beliefs regarding the future. All statements contained herein are based upon information available to the management of Stoney Plains Resources Corp.as of the date hereof, and actual results may vary based upon future events, both within and without the control of the management, including risks and uncertainties that could cause actual results to differ materially. Management does not take any responsibility to update the contents of this News Release in case new aspects arise or new conditions change the facts available. Contact: Stoney Plains Resources Corp. Bradley Sauder Corporate Relations 647-930-5396 bsauder@stoneyplainsresource.com End of Corporate News --------------------------------------------------------------------- 30.01.2012 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 --------------------------------------------------------------------- 154324 30.01.2012
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