Blue Earth Resources, Inc. Completes Acquisition of Mansfield Spider Drilling Lease
(firmenpresse) - INVER GROVE HEIGHTS, MN -- (Marketwired) -- 11/05/13 -- (OTC Pink: BERI), Blue Earth Resources, Inc. CEO John Lai has finalized details with the auditors and Blue Earth Resources, Inc. legal team by completing the merger of all assets of one of the most potentially profitable Oil and Gas leases in Mansfield, Louisiana. Blue Earth Resources, Inc. (BERI) now retains 100% working interest of the Spider Lease. The Spider Lease is approximately 1000 acres of producing and undeveloped land. There are currently 13 oil and gas wells, and a salt water well on the property. BERI holds the drilling rights from the surface down to 4,700 feet. There are already five potentially producing zones on the Mansfield Lease and BERI plans to utilize every profitable zone of the Spider Lease.
CEO John Lai stated, "One of the most exiting components to the Blue Earth NASDAQ Initiative with the acquisition of this additional lease to our current list of assets is the fact the Company has all the logs of every well drilled in the area showing which zones are commercial and those that are not."
BERI plans to release the details of the Mansfield lease as well as a detailed report of the existing wells on the property, along with the plans to drill additional wells in proven zones. BERI will be aggressively updating the market in an attempt to draw in long term and like-minded investors which will help us reach the Goals of the Blue Earth NASDAQ Initiative.
CEO Lai made a final comment, "In most situations a company taking over a lease will have to spend hundreds of thousands on seismographs and make attempts at drilling wells hoping that they are going to be profitable. BERI's position is the exact opposite in that we simply are bringing the oil production back to previous levels of production and to increase it with updated information now available." The field was shut down due to the decline of natural gas prices. Now armed with this new information, BERI can re-enter these existing wells and shoot the oil zones. When Chesapeake Energy drilled five Haynesville Shale wells, they produced new logs that described where the oil zones were located. Thus, BERI has acquired a large oil and gas lease which CEO Lai believes will propel BERI into a junior oil and gas company.
Blue Earth Resources has a visionary plan to share with our investors that will take us far beyond the reach of the OTC PINKSHEETS. Our Vision is Professionalism, Disclosure, and Success as a valued code of ethics practiced by Blue Earth Resources, Inc.
About Blue Earth Resources, Inc.:
Blue Earth Resources, Inc. is trading on the OTCPINK under the symbol BERI. The Company is an independent oil and gas company engaged in the acquisition, development, and production of oil and natural gas reserves. BERI plans to conduct a full SEC approved audit of its financials and continue positive moves toward the NASDAQ. The Company seeks to deliver strong shareholder returns through an effective exploration and development program that incorporates sound business practices with a strong, experienced management team. The goal is to steadily increase proven reserves of oil and natural gas which, in turn, will lead to enhanced cash flows and earnings per share.
The foregoing material may contain forward-looking statements. We caution that such statements may be subject to uncertainties and that actual results could differ materially from the fore-going statements. Readers accordingly should not place undue reliance on these forward-looking statements, which do not reflect unknown or unanticipated events or circumstances occurring after the date of these forward-looking statements.
Blue Earth Resources Inc. Contact:
John Lai
952-838-3838
Email:
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Datum: 05.11.2013 - 08:00 Uhr
Sprache: Deutsch
News-ID 1279549
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