Trophy Resources (PK) (USOTC:TRSI)
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Trophy Resources, Inc. (Pink Sheets:TRSI) is pleased to
announce that work on Phase 1 of the Southwest Texas prospect (R&W #1)
began September 6, approximately one week ahead of schedule.
Due to availability of work crews and equipment, the re-working of
a well drilled to the King Sands can begin earlier than anticipated.
"Our operating partner, IRA Oil & Gas, has made considerable
progress in getting the logistics organized so that work can commence
ahead of the projected schedule," said Trophy COO Eric Leonetti,
adding, "We are pleased with the support provided by Glenn Kennedy
(Managing Partner of IRA) and his team. We expect to have this well
on-line and in production within the next two weeks."
Immediately following the completion of this project, the Company
will begin the next stage of Phase 1, the re-entry of two wells
drilled to the Goen Reef followed by the drilling of two new wells,
both of which are also located in the Goen Reef.
This Southwest prospect encompasses multiple leases covering an
area over 600 acres. Development in the prospect is expected to
continue for the next 18 to 24 months. The Company anticipates having
more than twenty-five wells on-line in this period using a combination
of methods including re-entry work, new drilling and a water flood
program.
About Trophy Resources
Trophy Resources, Inc. (www.trophyoil.com) is a publicly traded
company dedicated to building a diverse portfolio of high-value,
low-risk energy and mining projects. The Company's goal is to evaluate
profitable options, build a solid foundation of assets through
acquisition of land and/or leases, and explore and develop
opportunities on these leases.
This release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E the Securities Exchange Act of 1934, as amended, and such
forward-looking statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
"Forward-looking statements" describe future expectations, plans,
results, or strategies and are generally preceded by words such as
"may," "future," "plan" or "planned," "will" or "should," "expected,"
"anticipates," "draft," "eventually" or "projected." You are cautioned
that such statements are subject to a multitude of risks and
uncertainties that could cause future circumstances, events, or
results to differ materially from those projected in the
forward-looking statements, including the risks that actual results
may differ materially from those projected in the forward-looking
statements as a result of various factors, and other risks. Trophy
Resources, Inc. is an exploration with limited experience in the oil
and gas industry. At the time of this release Trophy Resources lacks
the financial capabilities to meet its financial obligations and its
management expects to dilute the company's shares to raise the
necessary operating capital. Based upon industry standards Trophy
would be considered highly speculative and lacks any competitive
advantage over its competition. Additional risks you should consider
(this list is limited and additional risks not mentioned may apply):
failure to meet Trophy's financial and contractual obligations,
Trophy's managerial errors made based upon the Company's limited
experience and knowledge of the industry, commodity risk, acts of God
and regulatory risk. You should consider these factors in evaluating
the forward-looking statements included herein, and not place undue
reliance on such statements.