Tiger Oil Announces Joint Venture on Three Wells in Cowley County, KS
Tiger Oil And Energy, Inc. (PN) (USOTC:TGRO)
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5 Years : From Oct 2014 to Oct 2019
LAS VEGAS, NV--(Marketwired - Dec 4, 2013) - Tiger Oil and Energy, Inc. (OTCQB: TGRO) is a dynamic young Oil and Gas exploration company based in the heartland of America's energy production. Tiger has entered into negotiations with Toto Energy LLC, 25815 Oak Ridge Drive, Spring, Texas 77380 to joint venture in the drilling of up to three oil and gas wells in Cowley County, Kansas. Tiger would earn up to 30% working interest and an 81.5% Net Royalty Interest in the three wells. Cost of the three wells would be approximately $600,000 each for drilling and fracing each well with Tiger's cost of 30% to be $180,000 per well. Tiger can earn up to 30% of each well with an investment of up to $540,000.
Tiger has instructed their legal department to prepare private placement documents to raise the required funds.
Toto Energy LLC will be the operator of these wells. Toto is a Texas oil and gas producer with over 100,000 acres under lease in Kansas currently for future joint development. Toto has been aggressively drilling in Kansas in 2013 with 8 wells completed and four more in stages of completion by December in Cowley County KS.
About Tiger Oil and Energy
Tiger Oil and Energy is a diversified oil exploration company expanding its portfolio of projects with value added acquisitions and participations. TGRO previously closed an exchange agreement with Jett Rink Oil, LLC, wherein the Company acquired 100% of Jett Rink Oil, LLC. With this purchase, the Company acquired interests in two oil and gas leases located in Creek County, State of Oklahoma, together with all equipment located thereon.
Notice Regarding Forward-Looking Statements
"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 tigeroilandenergy.com under "News".
Kenneth B Liebscher