Masp.ob And Bpz Pennytobuck.com Stock Alert
Mass Petroleum (OTC:MASP) is an oil and gas production company backed by an experienced and dedicated management team
. Mass Petroleum is engaged in the acquisition of producing oil and gas projects to build its reserves and ensure sustainable growth through focused project development and acquisitions.
MASP has been continuing its efforts to determine key areas of interest through evaluating oil and gas assets with development and drilling upside potential. Mass Petroleum has determined the Kansas areas provide low-risk, multi-well oil and gas investments via direct participation programs through a direct ownership position in the wells or joint venture opportunities. Key facts about Kansas oil production include;
The first oil well in Kansas was drilled in 1860.
Currently Kansas produces oil and gas in 89 of the 105 counties.
Over 4000 permits to drill have been issued in Kansas to date.
The average well depth is about 3,500 feet.
Over 59,000 wells are actively producing oil and natural gas in Kansas.
70% of the wells produce oil and the other 30% produce natural gas.
There are over 2100 oil and gas producers operating in Kansas.
MASS Petroleum is an oil and gas production company backed by an experienced and dedicated management team. MASS Petroleum is engaged in the acquisition of producing oil and natural gas wells, interests and leases from existing companies, governments, and through the open market.
BPZ Resources, Inc. (NYSE:BPZ) announces completion of its CX11-22D well and spudding of the CX11-23D well in Corvina, and provides an update on production, Albacora oil sales, and status of the Extended Well Testing (EWT) permitting process.
The 22D well was drilled in an up dip location of the Corvina field to continue appraising its oil and gas potential.
The petrophysical evaluation shows that the well has approximately 75 feet of net oil pay, 70 feet of prospective oil pay in the lower zones, and has 75 feet of net gas pay above the oil zones.
The well tested oil at an approximate rate of 300 barrels of oil per day (bopd) but with high gas rates due to gas coming from one of the higher intervals opened to help define the gas-oil contact. The well failed to achieve a consistent initial production rate because of the resulting high gas oil ratios. Well test data indicate that this is not the gas channeling issue that occurred in previous wells.
The 23D well has been spud and will be the last well drilled from the CX-11 platform. The Company plans to begin the installation and commissioning of the gas and water re-injection equipment after this new well is completed, in order to meet the projected date of first commercial production of November 30, 2010.
Houston based BPZ Energy is an oil and gas exploration and production company which has exclusive license contracts for oil and gas exploration and production covering approximately 2.2 million acres in four properties in northwest Peru. It also owns a minority working interest in a producing property in southwest Ecuador. The Company is currently executing the development of the Corvina oil discovery, the redevelopment of the Albacora oil field, and the exploration of Block XIX, in parallel with the execution of an integrated gas-to-power strategy, which includes generation and sale of electric power in Peru and the development of a regional gas marketing strategy. The Company's website at www.bpzenergy.com provides additional information about the Company's plans, including photographs and other information with respect to its operations.
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by: Bill Pennyman
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