Baron Energy, Inc. Completes Phase 2 of Texas Panhandle Oil Reactivation Program; Moves Directly to Phase 3
June 04 2012 - 7:00AM
Baron Energy, Inc. (Pink Sheets:BROE) ("Baron" or the "Company"),
an independent oil and gas company, announced today that Phase 2 of
field operations has been completed at its Hutchinson County, Texas
oil reactivation program in the Texas Panhandle, and that Phase 3
is underway.
Management Comments
Ronnie L. Steinocher, President and CEO, said, "Phase 2 of this
large, 3-phase, oil reactivation program has now been completed; we
have moved directly into Phase 3. We expect Phase 3 to be completed
within 30 days. Each phase consists of reworking 8-10 oil
wells."
Mr. Steinocher added, "Based on the production results to date,
there is a good possibility that there will be a Phase 4
implemented on this project. We will have much more data by
mid-point of Phase 3 and will make a decision as to a Phase 4 at
that time."
About Baron Energy, Inc.
Baron Energy, Inc. (Pink Sheets:BROE) is an independent oil and
gas acquisition, production, exploitation, and exploration company
headquartered in San Marcos, Texas, with producing assets in North
and West Texas.
Baron owns production that is 99% oil, both operated and
non-operated, with working interests ranging from 12.5% to 100% in
oil fields located in Archer, Baylor, Garza, Hutchinson, Jones,
Runnels, Scurry, Taylor, and Young counties, Texas.
Baron's growth strategy centers on making accretive
acquisitions, production enhancement programs, reactivation
projects, and in-fill drilling, all within the Company's core area
of North and West Texas.
For more information, please visit www.baronenergy.com.
Forward-Looking Statement
Certain statements in this press release that are not historical
facts are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such
statements may be identified by the use of words such as
"anticipate," "believe," "expect," "future," "may," "will,"
"would," "should," "plan," "projected," "potential," "intend," and
similar expressions. Such forward-looking statements, involved
known and unknown risks, uncertainties and other factors that may
cause the actual results, performance or achievements of Baron
Energy, Inc. (the "Company") to be materially different from those
expressed or implied by such forward-looking statements. The
Company's future operating results are dependent upon many factors,
including risk factors discussed in the Company's periodic fillings
with the Securities and Exchange Commission, which are available
for review at www.sec.gov, including the Company's Annual Report on
Form 10-K filed on October 23, 2009. The Company undertakes no
obligation to update any forward-looking statement, whether as a
result of new information, future events, or otherwise.
CONTACT: Baron Energy, Inc.
Investor Contact
Brad Holmes
(713) 654-4009
b_holmes@att.net
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