Trophy Resources (PK) (USOTC:TRSI)
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Trophy Resources, Inc. (Pink Sheets:TRSI) is excited to announce the
drilling rig scheduled for their Southwestern Texas prospect arrived on
time and drilling began Wednesday (Oct 11th at
5:00 PM CDT). The drilling Permit for this well was pulled on Sept. 28,
2006, with completion expected by the end of this week.
On September 29, 2006, Trophy announced a successful re-entry of a now
productive well. The new well is located in close proximity of this and
other previously productive wells and may produce from up to four known
zones down to the Goen Reef at 4400’. “Our
experts in the field continue to expect to bring in a 30 to 50 BOE per
day well,” stated company COO Eric Leonetti. “With
the completion of this new well, we will have a two well field with
plans to rework two other wells and a second drilling project to closely
follow on this lease,” added Mr. Leonetti.
During completion of the new well, Trophy plans to move a work over rig
on to the site. Two additional wells are to be re-entered to the Goen
Reef to produce that zone. These wells were originally drilled to the
Goen and DST (Drill Stem Tested) producing 20 to 40 BOE from this zone
with significant amounts of water (in excess of 100 bbls/day). Without a
cost effective means to dispose of this fluid, the wells were plugged
just above this zone and produced all the upper zones with a much
greater cut of oil to water. These zones proved commercially productive
for several years. Now, with three injection wells available, Trophy can
produce the Goen Reef and efficiently dispose of all the fluid produced.
Trophy plans to closely follow this first new well with a second
drilling project (based on rig availability). With all other field
repairs either complete or near completion 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 excited to announce
the drilling rig scheduled for their Southwestern Texas prospect
arrived on time and drilling began Wednesday (Oct 11th at 5:00 PM
CDT). The drilling Permit for this well was pulled on Sept. 28, 2006,
with completion expected by the end of this week.
On September 29, 2006, Trophy announced a successful re-entry of a
now productive well. The new well is located in close proximity of
this and other previously productive wells and may produce from up to
four known zones down to the Goen Reef at 4400'. "Our experts in the
field continue to expect to bring in a 30 to 50 BOE per day well,"
stated company COO Eric Leonetti. "With the completion of this new
well, we will have a two well field with plans to rework two other
wells and a second drilling project to closely follow on this lease,"
added Mr. Leonetti.
During completion of the new well, Trophy plans to move a work
over rig on to the site. Two additional wells are to be re-entered to
the Goen Reef to produce that zone. These wells were originally
drilled to the Goen and DST (Drill Stem Tested) producing 20 to 40 BOE
from this zone with significant amounts of water (in excess of 100
bbls/day). Without a cost effective means to dispose of this fluid,
the wells were plugged just above this zone and produced all the upper
zones with a much greater cut of oil to water. These zones proved
commercially productive for several years. Now, with three injection
wells available, Trophy can produce the Goen Reef and efficiently
dispose of all the fluid produced.
Trophy plans to closely follow this first new well with a second
drilling project (based on rig availability). With all other field
repairs either complete or near completion 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.