Petron Energy II, Inc. Reports a 50% Increase in Natural Gas Production From Rework Operations in Its Petron Energy II Pipeli...
August 06 2013 - 9:00AM
Marketwired
Petron Energy II, Inc. (OTCBB: PEII) reports a 50% increase in
Natural Gas Production from rework operations in its Petron Energy
II Pipeline subsidiary in Oklahoma.
Petron Energy II, Inc., together with its subsidiaries, engages
in the acquisition and development of properties for the production
of crude oil and natural gas, transporting natural gas through its
pipeline subsidiary and well servicing through its servicing
subsidiary, in the United States.
Floyd Smith, President and CEO of Petron Energy II, Inc.,
states, "We are very pleased with the 50% increase in natural gas
production from our pipeline subsidiary and believe that as we put
more wells online our volumes should continue to increase. Our team
remains committed to our goal of enlarging our acreage footprint as
we concentrate on acreage immediately around our pipeline
facilities in the Oklahoma market." Smith goes on to say, "We have
always believed that since we are the only transporter of natural
gas to market in our exclusive area, along with the fact that the
overall production capacity for the pipeline is 10 million cubic
feet of gas per day, it provides us with a very unique advantage
which we intend on capitalizing." Smith further states, "The
natural gas we transport to market is high in oil liquid condensate
which provides additional revenue value for Petron Energy II,
Inc."
About Petron Energy II, Inc.:
Petron Energy II, Inc. is a Dallas-based oil and gas exploration
and production company. For further information about the Company,
please visit our website www.petronenergyii.com.
Notice Regarding Forward-Looking Statements This news release
contains "forward-looking statements" (statements which are not
historical facts) made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are based on current expectations rather
than historical facts and they are indicated by words or phrases
such as "anticipate," "could," "may," "might," "potential,"
"predict," "should," "estimate," "expect," "project," "believe,"
"plan," "envision," "continue," "intend," "target," "contemplate,"
or "will" and similar words or phrases or comparable terminology.
We have based such forward-looking statements on our current
expectations, assumptions, estimates and projections. While we
believe these expectations, assumptions, estimates and projections
are reasonable, such forward- looking statements are only
predictions and involve known and unknown risks and uncertainties,
and other factors that may cause actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements, many of which are beyond our control.
These factors include, but are not limited to, the time to
consummate the proposed development, completion and extraction; the
timing and extent of changes in market conditions and prices for
natural gas and oil; the timing and extent of the Company's success
in discovering, developing, producing and estimating reserves; the
economic viability of, and the Company's success in drilling, the
Company's ability to fund the acquisition, development, completion
and extraction of oil and gas assets and the Company's planned
capital investments; the Company's future property acquisition or
divestiture activities; increased competition; and any other
factors listed in the reports the Company has filed and may file
with the Securities and Exchange Commission. Investors are
cautioned not to place undue reliance on these forward-looking
statements, which reflect the Company's expectations only as of the
date they were made. The Company undertakes no obligation to update
or revise any forward-looking statements to reflect new information
or the occurrence of unanticipated events or otherwise.
Contact: Floyd Smith Email Contact