Baron Energy, Inc. Production Up 400% at Texas Panhandle Oil Reactivation Project
October 29 2012 - 7:30AM
Baron Energy, Inc. (Pink Sheets:BROE) ("Baron" or the "Company"),
an independent oil and gas company, announced today that production
at its Texas Panhandle project reached a new high in October.
Additional reactivation and production enhancement work will be
implemented to further increase and stabilize production.
Management Comments
Ronnie L. Steinocher, President and CEO, said, "We have achieved
the production targets originally set for this project. We now
have 20 oil wells on production and at least another 20 in
inventory to be reactivated. In October we hit a new high of
30 BOPD and 30 MCFPD. We plan to bring an additional 1-3 wells
on-stream per month and continue to increase production monthly for
at least the next 6 months."
Mr. Steinocher added, "We have quadrupled production on this
project since its inception in April 2012. There are
additional production enhancement and stabilization opportunities
we are pursuing. We are testing a chemical program that, based
on initial results, has stabilized production on select wells."
Baron owns a 40% interest in this project.
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,
North Central, and West Texas.
Baron owns production that is 95% 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, North Central, 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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