quote:Originally posted by J_U_ICE: PrimeHoldings.com Signs LOI to Acquire Rights to Drill on 22,000-Acre Leasehold East of Lubbock, Texas Business Wire - August 02, 2006 14:08
SALT LAKE CITY, Aug 02, 2006 (BUSINESS WIRE) -- PrimeHoldings.com Inc. (Pink Sheets: PMHJ), a diversified holding company with early mover initiatives in the oil and gas industry, today announced it has entered into a letter of intent to acquire the drilling rights of a 30-mile extension of the Anton-Irish field, a prolific Lower Clearfork Reef oil field that has produced over 220 million barrels of oil since its discovery in 1946 by Humble Oil.
"In 2001, the current operator of the Anton-Irish field, Occidental-Permian, began drilling into the Wolfcamp dolomite. To date they have 33 new wells that have produced over 6 million barrels of oil," stated Thomas Aliprandi, CEO of PrimeHoldings. "The leasehold has been compiled using well log data from deep wells drilled in the area, seismic interpretation and radiometric surveys. The extension reef structure mapped is over three times the potential of the Anton-Irish reef," Aliprandi continued.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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SALT LAKE CITY, Aug 02, 2006 (BUSINESS WIRE) -- PrimeHoldings.com Inc. (Pink Sheets: PMHJ), a diversified holding company with early mover initiatives in the oil and gas industry, today announced it has entered into a letter of intent to acquire the drilling rights of a 30-mile extension of the Anton-Irish field, a prolific Lower Clearfork Reef oil field that has produced over 220 million barrels of oil since its discovery in 1946 by Humble Oil.
"In 2001, the current operator of the Anton-Irish field, Occidental-Permian, began drilling into the Wolfcamp dolomite. To date they have 33 new wells that have produced over 6 million barrels of oil," stated Thomas Aliprandi, CEO of PrimeHoldings. "The leasehold has been compiled using well log data from deep wells drilled in the area, seismic interpretation and radiometric surveys. The extension reef structure mapped is over three times the potential of the Anton-Irish reef," Aliprandi continued.
posted
Yesterday a gravestone doji was formed, so that is not a good sign and with restrictions it's probably over for the short term. But I've got it on my radar. Makes you wonder if these restrictions were the brokerage houses trying to cover that butts.
posted
This has some interesting possibilities, sounds like they may be closer to some deals, it is one to watch to see what goes on in the near future nice play at these prices "if" a deal goes through, we will see.
Posts: 3875 | From: ca. | Registered: Jul 2005
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posted
I feel like I'm the only one here this one had nice volume today see what tomorrow brings.
Posts: 3875 | From: ca. | Registered: Jul 2005
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