Stoney Plains Resource Corp.
Stoney Plains Resource Corp.: STONEY PLAINS RESOURCES INC. PURSUES ADDITIONAL OIL PRODUCING LEASE PROPERTIES
Stoney Plains Resource Corp. / Key word(s): Miscellaneous 16.01.2012 / 09:24 --------------------------------------------------------------------- Company currently evaluating Southern U.S.A. Oil Fields with potential revenues of $20 million USD yearly Toronto, On. - Stoney Plains Resources Corp. (DE:RPS) Equity, ISIN CA8620181088, WKN A1JDD8, RPS-Company secretary and treasurer, Arunas Morkunas confirmed that the company is currently pursuing oil field properties located in Edmonton, Kentucky. Property : EDMONTON, KENTUCKY DRILLING AND DEVELOPMENT PROGRAM (87.5% Working Interest) Status: Currently Producing 1500 acre site with 20 shut-in wells and potential to drill 200 new wells. A Net 87.5% Working Interest. Current Independent Contractor on site with 30 years of experience will rework shut-ins for $45,000 and/ or drill new wells for $65,000 fully equipped to operate. Drill 10 new wells and get an injection pump (valued at $100K USD) at no cost. Cash flow based on oil production at $92.00 USD per barrel spot price. Property information Real Estate: Real Property Included Expansion Potential Summary: This Kentucky located development and drilling program presents Stoney Plains Resources the potential to re-work the existing 20 shut in wells with initial production averaging 3-5 bbls per day. These revenues in turn would be injected into the development of additional wells on the 1500 acre property. The company anticipates that approximately 3 new wells can be developed per month. Based on the development of 15-18 new wells brought up to stream over a period of 6 months the company expects monthly revenues nearing $1.75 million USD. This would be based on the total oil production from the combined 35 oil wells producing a minimum 3 bbls per day. 'It is our goal to acquire these types of properties that provide us with long term growth and development opportunity. There remains the future development of an additional 150-165 wells that can reflect potential revenues of approximately $20-25 million USD a year over the next 4-5 years on this property alone' stated Stoney Plains Resources president, Mr. Steve Ignas. Stoney Plains will continue to review and evaluate data to identify new drilling prospects with the intent of moving forward with a purchase of sale (POS). South East U.S. Oil Acquisition Update: Stoney Plains Resources has requested and been granted a 60 day extension on South East U.S. Oil Lease Acquisition to allow for further review and evaluation. Company Synopsis: 'Stoney Plains is now at the point where it is not only focused on leasing but also the development of new drilling projects. We have had ongoing discussions with numerous parties interested in entering into a joint venture arrangement to expedite these drilling programs and acquisitions and we are seeing significant headway', stated company Secretary and Treasurer, Arunas Morkunas. The company provides regular updates via press release and on the company's website at 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. www.stoneyplainsresource.com Bradley Sauder Corporate Relations 647-930-5396 bsauder@stoneyplainsresource.com End of Corporate News --------------------------------------------------------------------- 16.01.2012 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 --------------------------------------------------------------------- 152852 16.01.2012
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