Northumberland Resources Inc. Continues Focus on Kansas Mississippi Lime Oil Projects
April 17 2013 - 12:00AM
Marketwired
Northumberland Resources Inc. (OTCQB: NHUR) is pleased to announce
the following annual corporate update about the company and its
recent and business activities in Kansas.
Northumberland Resources has continued to implement a highly
focused, risk-averse oil and gas exploration company with a
strategy of building a substantial portfolio of oil and gas assets
in the onshore U.S. Northumberland continued to expand its oil
interests in 2013 following solid growth in 2011 and 2012. The
Company has focused on the Mississippi Lime formations in Kansas.
Northumberland continues to expand its oil interests in 2013
following solid growth in 2011 and 2012. The Company closed out
2011 with a multiple acquisition of an additional 1040 acres of
productive oil and gas leases. Two leases located in Pratt County
KS were purchased at auction consisting of six wells with a 100%
Working Interest of 82% Net Revenue Interest. These six wells
leases are directly adjacent to our existing leases and will
integrate the 6 (Sawyer Field) leases and maximize efficiency and
production. Included in the purchase was a gas compression station
that will enhance flows from current operations. The Company has
committed up to $250,000 in a joint venture program with our
partner and Operator, Lasso Energy, LLC. to update the Sawyer Field
and develop additional production from this major asset.
Currently Northumberland has an excellent portfolio of oil and
gas leases and is continuing its strategic growth through continued
acquisition, exploration and joint ventures in new projects. As of
November 1st, 2012 Management has consolidated their Operational
Management under Lasso Energy, LLC.
Northumberland will be adding additional oil and gas production
in 2013 as it continues to develop it existing holdings through
infield production, further acquisitions and additional exploration
projects. The Company currently has 13 oil and gas producing leases
with 19 producing wells and 7 salt water disposal wells (SWD). The
Company also holds interests in 6 undeveloped oil and gas leases
comprising 1215 acres of prime leaseholds scheduled for future
development. Additional information on these strategic acquisitions
and our oil and gas holdings is available on our website.
"Safe Harbor" Statement:
Under The Private Securities Litigation Reform Act of 1995: The
statements in the press release that relate to the Company's
expectations with regard to the future impact on the Company's
results from new products in development are forward-looking
statements, within the meaning of the Private Securities Litigation
Reform Act of 1995. A complete "SAFE HARBOR: Disclosure" is listed
on the Company's Website www.northumberlandresources.com under
"Investor Relations".
Contact: Peter Hewitt
info@northumberlandresources.com
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