Trophy Resources (PK) (USOTC:TRSI)
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Trophy Resources, Inc. (Pink Sheets:TRSI) is pleased to announce that
The Texas Railroad Commission has overseen the successful H-5 testing on
the injection wells for Phase 1 of our Southwest Texas prospect (R&W #1)
thus moving the project one step closer operational status.
With the work progressing at a rapid pace the prospect of bringing this
reworked production well on line may now be just days away.
“We are extremely pleased that the TRRC has
approved our repairs so we may complete the work on this site and finish
this project in Phase 1. We wish to congratulate our operational team in
the field for a job well done,” said Eric
Leonetti, Trophy COO, adding “Though we cannot
predict whether we have a commercially viable well, the team can now
concentrate solely on the completion of the work necessary to bring the
production well on line leading us that much closer to that
determination.”
This Southwest Texas 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 risk 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.
Trophy Resources, Inc. (Pink Sheets:TRSI) is pleased to announce
that The Texas Railroad Commission has overseen the successful H-5
testing on the injection wells for Phase 1 of our Southwest Texas
prospect (R&W #1) thus moving the project one step closer operational
status.
With the work progressing at a rapid pace the prospect of bringing
this reworked production well on line may now be just days away.
"We are extremely pleased that the TRRC has approved our repairs
so we may complete the work on this site and finish this project in
Phase 1. We wish to congratulate our operational team in the field for
a job well done," said Eric Leonetti, Trophy COO, adding "Though we
cannot predict whether we have a commercially viable well, the team
can now concentrate solely on the completion of the work necessary to
bring the production well on line leading us that much closer to that
determination."
This Southwest Texas 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 risk 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.