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I like it when a company pays there bills early...going in for another 500k here at .0023
DALLAS, May 25 /PRNewswire-FirstCall/ -- The Board of Directors of Indocan Resources Inc (OTC: IDCN - News) reports today that the Company has made the final portion of the down payment due in accordance with an agreement entered into with Sunray Oil of Dallas, Texas, to acquire interests in two different properties. The Agreement calls for another $100,000 to be paid by Friday, June 2nd, and we have done so as of today. Company president, Jeffrey R Bruhjell, said, "This gives us an absolute interest in the properties, we cannot lose them now."
The Oil and Gas Lease Sales Purchase Contract involves the purchase of two properties. The Properties are located in Taylor and Wichita Counties, Texas, and are commonly known as the Abilene Project, and the Waggoner Estate Project.
-------------------- I may be wrong, but I don't think so.... Posts: 837 | From: Madison, WI | Registered: Sep 2005
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NEWS - Abilene Update: (taken from their website)
Abilene Site Operator Reports:
Friday, May 26--Tank battery set at surface and collecting oil from #1, they have just sold the first 580 Barrels of Oil. Well #2 is scheduled to start the completion process on Tuesday after everyone gets back from long-weekend. Five to ten days it will be online.
We have 15% Working Interest (fully-paid) 11.25% NRI (Net Revenue Interest) in two wells. These wells will typically flow 100 to 125 BOPD and will be operated at percentage of that to keep long term flow and not hurt the down hole structure.
We are now an operating oil company and will have cash flow starting in June.
Posts: 59 | From: Huntsville Alabama | Registered: Mar 2004
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It keeps going up and down, but I'm in at .0027, looking for >.003 by EOD, let's get some people in on this folks, it looks like a good one.
Posts: 36 | From: Cornell Univ. | Registered: May 2006
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Erly this morning i got 30,000 shares at .0023 liked what i was hearing u guys say... looks like a winner 2me... thx guys for the info
Posts: 1101 | From: Georgia | Registered: Apr 2006
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Indocan Resources Management Visits Texas May 31, 2006 7:12:00 AM DALLAS, May 31 /PRNewswire-FirstCall/ -- The president of Indocan Resources Inc (OTC: IDCN) has been meeting all this week with Sunray Oil Company in Dallas, Texas. Indocan Resources has recently announced its investment in certain oil properties at Abilene, TX though Sunray Oil.
The #1 well at Abilene has been completed and is producing around fifty BOPD. #2 well starts completion today with an estimated production of slightly less than the first well.
Wells three and four have the greatest potential as they will be drilled on the area considered to be the formation dome. Sunray Oil Operations Manager, Larry Stiles said, "We recently acquired the leases from the rancher that was holding out that gives us the acreage over the main formation; we should make two excellent wells on that site."
The #1 well location is close to the border of this new acreage and flowed 120 BOPD when first opened. Although currently choked back, it will be slowly increased over the next nine months. We have high hopes that wells #3 & #4 at Abilene will be as good as or better than #1. Drilling at #3 will commence within the month.
Indocan has interests in Texas, Oklahoma, British Columbia and Alberta in both crude oil and natural gas production. More information can be learned by visiting our website: www.indocan.com
We seek "Safe Harbor"
Company Info: +1-604-929-7224 Jeffrey R Bruhjell, president CONTACT: Investor Relations, Ken Ash +1-252-728-2925. SOURCE Indocan Resources Inc
---------------------------------------------- Jeffrey R Bruhjell president of Indocan Resources Inc +1-604-929-7224 or investors Ken Ash +1-252-728-2925
Posts: 191 | From: Oklahoma | Registered: Aug 2005
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