LEVELLAND, Texas, June 5, 2012 /PRNewswire/ -- Lighthouse (OTC:
LHPT) is pleased to announce it has been notified by our operator
that a Rig has moved onto the Perry A lease. Management
expects the Perry A2 to start producing fluid over the next couple
of days with the potential to add about a 50% increase in our
current production levels under our Company Controlled
Projects.
Lighthouse business plan calls for Company Controlled Projects
to be the largest growth division for the development of the
company. Management believes the Perry project's size and scope is
allowing us to build the necessary infrastructure to handle larger
and more complex Company Controlled Projects. "Therefore I have
given instructions to our team to begin looking for projects that
have the multiple drill targets for wells that have the potential
to produce between 50 to 80 BOE a day with extensive reservoirs.
Next week part of our management team is expected to begin
reviewing seismic reports in relation to an area identified by the
company as Section 13 as a potential lease target," said
Todd Violette, CEO.
About the Perry A2
The Perry A 2 Well is drilled to a total depth of 3,895 feet and
had it first production in September
1992. Lighthouse expects to produce from the reservoir known
as the Patio "D" Sands. The Perry A2 well has produced 12,020
barrels of oil historically since its first production.
Management expects with modern recovery techniques and artificial
stimulation we should recover and achieve strong economic value
from this well in the current producing zone and potentially could
exploit other zones from this well.
About Lighthouse Petroleum, Inc.
Lighthouse Petroleum, Inc. is in the initial development as a
junior oil and gas company. Lighthouse's initial focus will be on
acquiring abandoned wells and land leases believed to still have
sustainable development opportunities. Lighthouse believes the use
of modern technology will enable the company to reduce it risk in
the initial phase of development and open up new opportunities.
Lighthouse plans to create a base cash flow from reentering these
wells and establish the network to acquire additional land asset in
our targeted areas. The management's focus is on acquiring and
developing assets located in the Permian Basin and Arch-Fort Worth
Basin. Lighthouse is a growth orientated junior Oil & Gas
Company that trades on the OTC markets under the symbol "LHPT".
Forward-Looking Statement
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.
Lighthouse Petroleum, Inc. is an exploration company with limited
experience in the oil and gas industry. At the time of this release
Lighthouse Petroleum, Inc. 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 Lighthouse would be considered highly
speculative and lacks any competitive advantage over its
competition. Additional risks you should consider are that this
list is limited and additional risk not mentioned may apply:
failure to meet Lighthouse's financial and contractual obligations,
Lighthouse'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.
Contact
Todd Violette, CEO
Lighthouse Petroleum, Inc.
1-403-241-5498
info@lighthouselhpt.com
SOURCE Lighthouse Petroleum, Inc.