Baron Energy, Inc. Provides an Update on Its Texas Panhandle Oil Reactivation Program
July 16 2012 - 6:00AM
Baron Energy, Inc. (Pink Sheets:BROE) ("Baron" or the "Company"),
an independent oil and gas company, announced today the
continuation of Phase 3 of its Texas Panhandle oil reactivation
program and its intentions to proceed with Phase 4 immediately
after the completion of Phase 3.
Management Comments
Ronnie L. Steinocher, President and CEO, said, "The completion
of Phase 3 was delayed due to severe weather and downed electric
power lines. Necessary repairs have been made and we have
recommenced field operations for Phase 3. Phase 3 should be
completed near the end of July at which time at least 22 oil wells
will be on production."
Mr. Steinocher added, "Based on the positive production results
to date, a Phase 4 will definitely be implemented on this
project. We currently are planning to begin Phase 4
immediately upon completion of Phase 3."
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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