Greater Sooner Holding, Inc. Announces New Project to Develop Estimated $2 Billion in Probable South Texas Reserves; 3-D Seismic Data under Review to Select High Potential Objectives Business Editors / Energy Editors
HOUSTON--(BUSINESS WIRE)--May 8, 2006-- Greater Sooner Holding, Inc. (OTC:GSNH) today announced the intent to develop a South Texas property with an area of mutual interest of approximately 100 square miles. This area of South Texas is known for producing oil and gas from multiple objectives.
Preliminary analysis of existing 3-D seismic data covering the project area suggests that there are multiple zones from which hydrocarbons may be produced. Initial data review indicates seismic anomalies in both shallow and deeper zones, with the deeper zones containing the larger potential hydrocarbon reserves. The combined reserve value for oil and gas in the project area could exceed $2 billion.
The seismic data will be interpreted further and correlated with wells drilled near the project area to yield a high quality geological model of the subsurface assets. From the geological model, the most promising productive objectives will be selected. Additional information will be made available upon completion of this scientific data analysis.
"We are excited about the opportunity to develop these high-potential South Texas oil and gas assets," said Russell F. Krauss, CEO of Greater Sooner Holding, Inc.
About Greater Sooner Holding, Inc.
Greater Sooner Holding, Inc. is a crude oil and natural gas exploration and production company with operations in Houston, Texas. The Company executes a repeatable business model to generate cash flow by reworking existing operating wells with proven reserves and using the proceeds to drill new and deeper wells in the target project area.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, the potential for additional customer growth from acquired operations and additional opportunities for growth. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including: general economic business conditions, unfavorable weather conditions, the success of certain cost containment initiatives, changes in regulations or regulatory treatment, availability and the cost of capital, the success of growth initiatives, and other factors discussed in our filings with the Securities and Exchange Commissions. Additionally, this release may not be considered as legal, accounting, or investment advice, and is not, and may not be considered, a solicitation for the purchase of any securities issued by Greater Sooner Holding, Inc.
KEYWORD: NORTH AMERICA TEXAS UNITED STATES INDUSTRY KEYWORD: ENERGY OIL/GAS PRODUCT/SERVICE SOURCE: Greater Sooner Holding, Inc.
CONTACT INFORMATION: LC Group Rick Lutz, 404-261-1196 lcgroup*mindspring.com
Posted by dayton on :
HOUSTON, May 10, 2006 (PRIMEZONE) -- Greater Sooner Holding, Inc. (Pink Sheets:GSNH) today announced the intent to develop a South Texas property with an area of mutual interest of approximately 100 square miles. This area of South Texas is known for producing oil and gas from multiple objectives.
Preliminary analysis of existing 3-D seismic data covering the project area suggests that there are multiple zones from which hydrocarbons may be produced. Initial data review indicates seismic anomalies in both shallow and deeper zones with the deeper zones containing the larger potential hydrocarbon reserves. The combined reserve value for oil and gas in the project area could exceed $2,000,000,000.
The seismic data will be interpreted further and correlated with wells drilled nearby the project area to yield a high quality geological model of the subsurface assets. From that model, the productive objectives will be selected. Additional information shall be made available upon completion of this scientific data analysis.
"We are excited about the opportunity to develop these high-potential South Texas oil and gas assets," said Russell F. Krauss, CEO of GSNH.
About Greater Sooner Holding, Inc.
Greater Sooner Holding, Inc. is a crude oil and natural gas exploration and production company with operations in Houston, Texas. The Company executes a repeatable business model to generate cash flow by reworking existing operating wells with proven reserves and using the proceeds to drill new and deeper wells in the target project area.
Posted by dayton on :
May 10, 2006 - 4:56 PM EDT
Greater Sooner Holding, Inc. Announces Completion of Operator Registration with the Texas Railroad Commission; Company Names Tony Council to Board of Directors
Greater Sooner Holding, Inc. (OTC:GSNH) today announced the Company has completed its application with the Texas Railroad Commission to become a registered oil and gas Operator in the state of Texas. This is an important step for the Company, now underway with its program to locate and produce the estimated $285,000,000 in probable reserves in the Clayton Field project area in Live Oak County, Texas.
The Company's workover program is designed to provide immediate income from oil production from which the Company can grow and generate the vital scientific data required for further development. This approach maximizes return while minimizing necessary costs.
With a strong engineering focus to its workover program, the Company also announced the election of Tony Council to the Board of Directors. Mr. Council is a Professional Engineer with over two decades of experience in the oil and gas arena. Since January 2001, he has been the founder and President of TLC Engineering, Inc. where he oversees the daily management of engineering and bid processing for large scale engineering projects. From 1992 - 2000 he was a senior consulting engineer and project manager with Mustang Engineering, Inc. of Houston, Texas, where he had a very successful and renowned career in charge of engineering design and project manager of assigned oil and gas projects. Mr. Council received a BS degree in mechanical engineering from North Carolina ANT State University in 1978. Since 1993, Mr. Council has been licensed as a Professional Engineer in the state of Texas. Mr. Council also sits on the Board of Directors of Internal Hydro International (OTCBB:IHDRE).
About Greater Sooner Holding, Inc.
Greater Sooner Holding, Inc. is a crude oil and natural gas exploration and production company with operations in Houston, Texas. The Company executes a repeatable business model to generate cash flow by reworking existing operating wells with proven reserves and using the proceeds to drill new and deeper wells in the target project area.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, the potential for additional customer growth from acquired operations and additional opportunities for growth. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including: general economic business conditions, unfavorable weather conditions, the success of certain cost containment initiatives, changes in regulations or regulatory treatment, availability and the cost of capital, the success of growth initiatives, and other factors discussed in our filings with the Securities and Exchange Commissions. Additionally, this release may not be considered as legal, accounting, or investment advice, and is not, and may not be considered, a solicitation for the purchase of any securities issued by Greater Sooner Holding, Inc.
LC Group Rick Lutz, 404-261-1196 lcgroup*mindspring.com
Source: Business Wire (May 10, 2006 - 4:56 PM EDT)