Trophy Resources (PK) (USOTC:TRSI)
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From Jul 2019 to Jul 2024
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Trophy Resources, Inc. (Pink Sheets:TRSI) is pleased to announce that
they have sold the first commercial quantity of oil produced by their
initial reworked well in Southwest Texas.
“The Sunoco Oil Company has been contracted to
perform the oil pickups from these properties and made the first pickup
of approximately 190 barrels late last week,”
reported Eric Leonetti, Trophy COO.
“This first production came from about two and
a half weeks of on and off pumping as we worked out the bugs in our new
electrical systems and fixed some minor problems with the separators.
With this behind us we hope to see the Bbl/day quantity begin to
increase,” added Mr. Leonetti.
Trophy is also in the process of determining the best productive zone to
complete their recent drilling project to. They hope to have this
process complete by the end of this week with the prospect of having
this new well on line by mid November.
Trophy will now be concentrating on reworking a minimum of two other
wells in close vicinity and beginning a second drilling project (based
on rig availability). With all other field repairs complete on this
location, Trophy appears primed to move at an even more accelerated pace.
This project as part of the second Phase of R&W #1 is located in Runnel
County Texas. Runnel County Texas has produced tens of millions of
barrels of oil and is geologically situated within a trend of
Pennsylvania Age productive reservoirs comprised of limes and sands
between the Bend Arch Axis and the Fort Chadbourne fault system. 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 they have sold the first commercial quantity of oil produced by
their initial reworked well in Southwest Texas.
"The Sunoco Oil Company has been contracted to perform the oil
pickups from these properties and made the first pickup of
approximately 190 barrels late last week," reported Eric Leonetti,
Trophy COO.
"This first production came from about two and a half weeks of on
and off pumping as we worked out the bugs in our new electrical
systems and fixed some minor problems with the separators. With this
behind us we hope to see the Bbl/day quantity begin to increase,"
added Mr. Leonetti.
Trophy is also in the process of determining the best productive
zone to complete their recent drilling project to. They hope to have
this process complete by the end of this week with the prospect of
having this new well on line by mid November.
Trophy will now be concentrating on reworking a minimum of two
other wells in close vicinity and beginning a second drilling project
(based on rig availability). With all other field repairs complete on
this location, Trophy appears primed to move at an even more
accelerated pace.
This project as part of the second Phase of R&W #1 is located in
Runnel County Texas. Runnel County Texas has produced tens of millions
of barrels of oil and is geologically situated within a trend of
Pennsylvania Age productive reservoirs comprised of limes and sands
between the Bend Arch Axis and the Fort Chadbourne fault system. 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.