Indocan Resources Management Visits Texas Wednesday May 31, 7:12 am ET
DALLAS, May 31 /PRNewswire-FirstCall/ -- The president of Indocan Resources Inc (OTC: IDCN - News) 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
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fuzzy, i appoligize about that and i think right now the market is bad and now stock is running more then 50% and i am making onn almost every stock because with these conditions am happy with only 10-20% and i think if u build that same stratigy u will be fine...i am sorry that u lost on some of my plays its just i wouldnt chase nothing in this market...and it seems to me right now the only plays that i am making real money on are shakerzzz plays so i am jsut really watching those right now
quote:Originally posted by Fuzzy1018: i got burned few times with ur plays
-------------------- please dont trade stocks on my alerts, do your dd first. Posts: 5265 | From: Alberta | Registered: Jan 2006
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June 5: We should have a report from Abilene #2 today or tomorrow concerning the completion work. Hole #3 will commence immediately. We are excited about #3 & #4 as we hope to hit the formation dome on these drill sites
Posts: 2049 | From: Jax,FL,USA | Registered: Nov 2003
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FUZZY, Don't tell someone to stop posting because you get burned, shakerzzz plays make lots of people lots of money, and the not so lucky ones lose some money. Superman can post what he wants, just set him to ignore, if you think you are going to get burned.
Remember Fuzzy, buy around the low, not at the High of the Day or Top of the Run
Posts: 173 | From: Southern California | Registered: Jan 2006
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Waiting for a pr update on the Texas drill sites any day so rumor has it....
Posts: 660 | From: california | Registered: Nov 2005
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Not sure how this is going to effect the market....
Indocan Resources to Refocus on Texas and North America Only Thursday June 8, 2:24 pm ET
VANCOUVER, British Columbia, June 8 /PRNewswire-FirstCall/ -- Indocan Resources Inc (OTC: IDCN - News) With our recent success in Texas and the lack of success or even acceptable communication with our Thailand and Cambodia prospects the Board of Directors has decided to stop pursuing these Far East projects previously announced. The Board of Directors has also removed Sutida Suwunnavid of the Knightsbridge Group, from the Board. We will be attending the all important industry Global Petroleum show in Calgary, Alberta 13 to 15 June. The Global Petroleum Show is Canada's largest oil & gas industry trade event, attracting over 1600 exhibiting companies and 50,000 visitors from 85 countries. In recognition of the tremendous new opportunities for U.S. exporters in the oil & gas reserves of western Canada, the U.S. Commercial Service is organizing a U.S.A. Business Center right in the heart of the show. Participants in the 16000 Sq. Ft. center will receive exhibitor space, a market briefing, 4 - 6 pre-arranged appointments and a U.S. Consulate hosted reception.
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I got out yesterday at .0024 for a small lost and was happy to be out of it. Too much negative mojo with the stock right now.
Posts: 2049 | From: Jax,FL,USA | Registered: Nov 2003
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