REASONS THIS STOCK COULD SOAR WHEN OIL PRICES SPIKE 50 - 100%

  • The company was founded by a former Exxon Mobil president responsible for 300,000 barrels of production a day (BOPD).
  • Management has invested over $1.5 MILLION in establishing the corporate structure, refining acquisition parameters and developing the current deal pipeline.
  • Current production averages 1133 barrels of oil per month (BOPM) representing 950,000 BO proved / probable reserves. This project is estimated to do 3400 BOPM after rework.
  • Proven and probable (2P) reserves associated with their Louisiana assets have a discounted present value (PV10) of $41,245,950 as of a March 1, 2011 reserve summary prepared by management, indicating attractive potential for growth.
  • Closed bridge financing for $150,000 and went public in 2011.
  • Plans to acquire over 1,500 acres with over 59 shut-in wells and 30 producing wells with 40 BOPD of current production, which will do 200 BOPD with minimal rework representing 2.1 MILLION barrels of proven reserves. A preliminary agreement has already been secured.
  • Plans to acquire and develop $200 MILLION in proven reserves.

Thursday, June 23, 2011

Cougar Oil & Gas Pursuing Multi Well Drill Program


June 9, 2011 (FinancialWire) -- Oil and gas exploration and development company Cougar Oil & Gas Canada, Inc. (OTCBB: COUGF) (Approx. Market Cap US$ 108 Mil.) recently announced it had identified 15 drill locations based on the first round of review of a 3D seismic program completed in Q1, 2011.

The company has also said it has started the permitting process for 5 of the wells, with the goal of starting the drilling program in August of 2011.

The first stage 5-well drilling program was selected after an extensive review of the 3D seismic data, the regional and local geological mapping, the core data and the well performance of the existing regional wells, according to the company.
The company also said all of the current targets are vertical locations with new potential reservoirs identified with the seismic program. 

Of the 15 locations, 7 are targeting new reservoirs and balance are development wells of existing reservoirs, according to Cougar


Source: BenZina


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