Greater Sooner Holding, Inc. Announces New Project to Develop Estimated $2 Billion in Probable South Texas Reserves; 3-D Seismic Data under Review to Select High Potential Objectives
HOUSTON--(BUSINESS WIRE)--May 8, 2006--
Greater Sooner Holding, Inc. (OTC: GSNH) today announced the intent to develop a South Texas property with an area of mutual interest of approximately 100 square miles. This area of South Texas is known for producing oil and gas from multiple objectives.
Preliminary analysis of existing 3-D seismic data covering the project area suggests that there are multiple zones from which hydrocarbons may be produced. Initial data review indicates seismic anomalies in both shallow and deeper zones, with the deeper zones containing the larger potential hydrocarbon reserves. The combined reserve value for oil and gas in the project area could exceed $2 billion.
The seismic data will be interpreted further and correlated with wells drilled near the project area to yield a high quality geological model of the subsurface assets. From the geological model, the most promising productive objectives will be selected. Additional information will be made available upon completion of this scientific data analysis.
"We are excited about the opportunity to develop these high-potential South Texas oil and gas assets," said Russell F. Krauss, CEO of Greater Sooner Holding, Inc.
About Greater Sooner Holding, Inc.
Greater Sooner Holding, Inc. is a crude oil and natural gas exploration and production company with operations in Houston, Texas. The Company executes a repeatable business model to generate cash flow by reworking existing operating wells with proven reserves and using the proceeds to drill new and deeper wells in the target project area.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, the potential for additional customer growth from acquired operations and additional opportunities for growth. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including: general economic business conditions, unfavorable weather conditions, the success of certain cost containment initiatives, changes in regulations or regulatory treatment, availability and the cost of capital, the success of growth initiatives, and other factors discussed in our filings with the Securities and Exchange Commissions. Additionally, this release may not be considered as legal, accounting, or investment advice, and is not, and may not be considered, a solicitation for the purchase of any securities issued by Greater Sooner Holding, Inc.
Source: Greater Sooner Holding, Inc.
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Damit steigt das Potential der geschätzten Reserven von 285 Millionen auf 2,285 Milliarden $.
Wenn das mal nicht ein Ding ist :)