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Petro River Oil Corp. (OTC: PTRC) News - March 9, 2017

 


Petro River Satisfies Environmental Assessment Requirement for Drilling Permit



New York, March. 08, 2017 (GLOBE NEWSWIRE) -- Petro River Oil Corp. (OTC: PTRC) (“Petro River” or the “Company”), an independent oil and gas exploration company utilizing the latest 3-D seismic technology, announced today that the Bureau of Indian Affair’s (BIA) Branch of Enforcement and Lease Compliance has completed an Environmental Assessment (EA) “concerning the approval of drilling permits” for the Company’s Osage County, OK concession.

Click here to read the document.

“This is one of the final hurdles needed to obtain drilling permits in Osage and we are pleased to be in compliance with the BIA, which issued a Finding of No Significant Impact concerning our Pearsonia West concession,” said Stephen Brunner, president of Petro River Oil.

“We are fully funded for this phase of our Development program and look forward to the validation of our advanced technology exploration efforts,” Brunner continued.

The document reads in part; “Based on the [Finding of No Significant Impact], the BIA also determined that it is appropriate to approve the drilling permits for the well(s) described above.”

The Pearsonia West Concession in Osage County, Oklahoma includes 106,500 contiguous acres centered on the structural trend of the Pearsonia-Blackland-Foraker fields. These fields have produced in excess of 20 million barrels of oil through vertical well development and is close to fields that have produced 200 million barrels of oil through vertical production since the early 1900s.

The Company recently reprocessed 35 square miles of 3-D seismic data which defined 4,480 acres of structural closures and multiple Pennsylvanian channel and Mississippian chat formations. As a result, Petro River and its operating partners are in the process of securing permits to drill four wells by April 2017. The program will test the first 1,610 acres of the defined structural closure, which has prospective resource potential of 2.5 million barrels of oil. Results are expected by June 2017.

An additional 55 square miles of 3-D seismic is planned to be shot by the Company in the southern portion of the concession in 2017. Assuming success in the initial drilling phase, the Company anticipates providing scalable and repeatable vertical drilling opportunities within the concession boundaries.

ABOUT: PETRO RIVER OIL CORP.

Petro River Oil Corp. (OTC Pink: PTRC) is an independent energy company with its core holdings in Northeast Oklahoma and Kern County, California. Petro River’s strategy is to apply modern technology, such as 3-D Seismic analysis to exploit hydrocarbon-prone resources in historically prolific plays and underexplored prospective basins to build reserves and to create value for the Company and its shareholders.

For more information, please visit our website at www.petroriveroil.com.

FORWARD-LOOKING STATEMENTS.

This news release contains forward-looking and other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward looking statements. These forward looking statements, projections and statements are subject to change and could differ materially from final reported results. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made. Petro River assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, Petro River undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect to the matters discussed above. Readers should also carefully review the “Risk Factors” in Petro River’s annual report on Form 10-K, its quarterly reports on Form 10-Q, and other reports filed with the SEC under the Securities Exchange Act of 1934, as amended.

For additional information about Petro River Oil, please visit http://petroriveroil.com/ or contact:
Investor Relations
ir@petroriveroil.com
telephone: (469) 828-3900
Source: Petro River Oil Corp.

 

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Recent Petro River Oil Corp. News:

 

New 3-D Seismic Data Identifies Significant Reserve Potential


Petro River Oil Plans Four Wells in Three Project Areas


New York, Feb. 08, 2017 (GLOBE NEWSWIRE) -- Petro River Oil Corp. (OTC: PTRC) (“Petro River” or the “Company”), an independent oil and gas exploration company utilizing the latest 3-D seismic technology, announced today that recently acquired and re-processed 3-D seismic data has shown positive results in three of the Company’s project areas located in California and Oklahoma. Given these positive results, the Company now intends to move forward with drilling four wells on these three core assets during the second quarter of this year.

Stephen Brunner, President of Petro River and a member of the Board of Managers of Horizon Energy commented, “The 3-D seismic surveys have allowed Petro River to confirm viable prospects in three of our active project areas. This data improves our understanding of structure, trap type and reservoir characteristics enabling our exploration effort to move forward with more precision and lower exploration risks. If any of the initial wells are successful, numerous additional opportunities for reserve additions and substantial production will be available to Petro River.”

Below is a summary of Petro River’s three core projects that were subject to the 3-D seismic mapping:

Kern County, California

Petro River has both direct and indirect interests (through its ownership of 20% of Horizon Energy Partners, LLC (“Horizon Energy”)) in two projects in Kern County, California. Kern County is the home to four of the ten largest oil fields in the United States and continues to be an active petroleum producing province.

In the first project, Petro River owns a 13.75% direct working interest and an indirect interest, through Horizon Energy’s ownership of a 27.5% direct working interest in the project. This project involves the re-development of a 100 million barrel oil field, discovered over 80 years ago, within which the project participants control approximately 4,500 net areas of ideally situated oil and gas leases. This opportunity primarily results from the lack of modern seismic data covering the field.

Recently, Petro River and the other venture participants completed the acquisition of a new, 30 square mile 3-D seismic survey over the field. Although this data is still being processed, the initial results are compelling and indicate numerous undrilled, multi-objective potential hydrocarbon-bearing zones within the field. The consensus of the participants is that as much as 25% or more of the current cumulative historical production will be found based on future drilling utilizing the newly acquired 3-D data. An initial exploration well is planned in the late 2nd quarter of 2017. The well depths in the field range from 4,000-8,500 feet and the oil is light, in contrast to many of the “heavy” oil fields nearby. Extensive oil and gas infrastructure is already in place.

The second project in Kern County (in which Horizon Energy owns a 40% working interest) comprises joint venture lease holdings of approximately 8,500 net acres located southwest of Bakersfield, California in the vicinity of prolific Stevens Sand production. Historic production from several nearby fields producing from the same geologic objectives has exceeded 150 million barrels of oil on a cumulative basis.

The results from the processing of a new 24 square mile 3-D seismic survey acquired in 2016 provide a clear picture of the extent of a recent, uncompleted discovery and have led to the identification of several other robust exploration opportunities in discrete areas within the lease holdings. An initial exploration/development well is planned in the late 2nd quarter of 2017. The well will target thick hydrocarbon-bearing zones at around 15,000 feet.

The Pearsonia West Concession, Osage County, Oklahoma

The Pearsonia West Concession in Osage County, Oklahoma includes 106,500 contiguous acres centered on the structural trend of the Pearsonia-Blackland-Foraker fields. These fields have produced in excess of 20 million barrels of oil through vertical well development and is close to fields that have produced 200 million barrels of oil through vertical production since the early 1900s.

The Company recently reprocessed 35 square miles of 3-D seismic data which defined 4,480 acres of structural closures and multiple Pennsylvanian channel and Mississippian chat formations. As a result, Petro River and its operating partners are in the process of securing permits to drill four wells by April 2017. The program will test the first 1,610 acres of the defined structural closure, which has prospective resource potential of 2.5 million barrels of oil. Results are expected by June 2017.

An additional 55 square miles of 3-D seismic is planned to be shot by the Company in the southern portion of the concession in 2017. Assuming success in the initial drilling phase, the Company anticipates providing scalable and repeatable vertical drilling opportunities within the concession boundaries.

About: Petro River Oil Corp.

Petro River Oil Corp. (OTC Pink: PTRC) is an independent energy company with its core holdings in Northeast Oklahoma and Kern County, California. Petro River’s strategy is to apply modern technology, such as 3-D Seismic analysis to exploit hydrocarbon-prone resources in historically prolific plays and underexplored prospective basins to build reserves and to create value for the Company and its shareholders. Petro River owns a 20% equity interest in Horizon Energy Partners, LLC and its president, Stephen Brunner, is also a member of the Board of Managers of Horizon Energy Partners, LLC.

For more information, please visit our website at www.petroriveroil.com.

About: Horizon Energy Partners, LLC.

Horizon Energy is an oil and gas exploration and development company with a portfolio of domestic and international assets. The majority of the funding for Horizon Energy has come from seasoned oil and gas industry professionals, including several former senior oil industry executives who have run both major and large independent oil and gas companies, and have advised large energy focused private equity funds and hedge funds. Horizon Energy is managed by Jonathan Rudney; Mr. Rudney has over 35 years of senior executive experience in the upstream oil and gas industry, and, throughout his career, has been instrumental in the growth and success of several private E&P companies. Horizon Energy was formed to take advantage of the current depressed oil market and has identified and acquired a portfolio of highly attractive oil and gas assets. A common theme underlying each project is the application of modern technology, such as the use of 3-D seismic data.

Forward-Looking Statements.

This news release contains forward-looking and other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward looking statements. These forward looking statements, projections and statements are subject to change and could differ materially from final reported results. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made. Petro River assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, Petro River undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect to the matters discussed above. Readers should also carefully review the “Risk Factors” in Petro River’s annual report on Form 10-K, its quarterly reports on Form 10-Q, and other reports filed with the SEC under the Securities Exchange Act of 1934, as amended.


For additional information about Petro River Oil, please visit http://petroriveroil.com/ or contact:

Investor Relations

ir@petroriveroil.com

telephone: (469) 828-3900
Source: Petro River Oil Corp.

 

 

One-Two Punch Makes U.S. Oil
Stocks Attractive Buys


Atlanta, GA - December 15, 2016 -- OTCStockReview published an article on SeekingAlpha.com that included industry commentary based on the recent OPEC developments taking place in the Energy Sector that included companies such as: Exxon Mobil Corporation (NYSE: XOM), EOG Resources, Inc. (NYSE: EOG), Devon Energy Corporation (NYSE: DVN), Petro River Oil (OTC: PTRC) and Abraxas Petroleum Corporation (NASDAQ: AXAS)

Two recent developments in the oil industry have positioned U.S. oil and gas companies for a potential business boom.

One, OPEC and non-OPEC countries have agreed to reduce production by nearly 2 million/bbl per day, raising WTI crude this week to nearly $53/bbl. And two, key appointments in the upcoming Trump Administration - Exxon Mobil Corporation (NYSE: XOM) CEO Rex Tillerson as Secretary of State and outspoken global warming critic Scott Pruitt as head of the Environmental Protection Agency - indicate looser regulations that will open up U.S. producers in both conventional and unconventional plays to break out of the malaise low oil prices have brought upon both major and independent producers.

Shale players like EOG Resources (NYSE: EOG) and Devon Energy (NYSE: DVN) are bullish at $55 oil, as unconventional producers have spent the majority of the past few years reducing costs and innovating with technology in order to be profitable at lower oil prices (historically Shale was profitable at $80 plus oil prices).

Microcap companies like Petro River Oil (OTC: PTRC) - a conventional player with assets in Osage County, OK, Kern County, CA, and in the UK - and Abraxas (NASDAQ: AXAS), with assets in the Permian Basin, Powder River Basin, Rocky Mountains and Texas will likely also benefit from higher oil and looser regulations as conventional production breaks even in the $30-$40 oil range.

With the DOW nearing 20,000 and at a record high, the market shows no indication of slowing down before President-elect Trump takes office in January. Investors are no doubt looking to take advantage of rising stock prices, and oil and gas could be just what the broker ordered.

Petro River Oil Corp. (OTC: PTRC) http://petroriveroil.com/  is an independent energy company with its core holdings in Northeast Oklahoma, the Larne Basin in Northern Ireland, and Mountain View, California. Petro River's strategy is to apply modern technology, such as 3D seismic analysis to exploit hydrocarbon-prone resources in historically prolific plays and underexplored prospective basins to build reserves and to create value for the Company and its shareholders.

Disclosure from OTCStockReport.com: I/we have no positions in any stocks mentioned, but may initiate a long position in XOM, EOG, DVN, PTRC, AXAS over the next 72 hours. Additional disclosure: OTC Stock Review and Atlanta Capital Partners, LLC has been compensated in the past, and expects to be compensated in the future, by Petro River Oil Corp. for investor relations services. OTC Stock Review and Atlanta Capital Partners, LLC reserves the right to be compensated for investor relations services by companies mentioned in this article. You are encouraged to read our complete disclaimer here http://www.otcstockreview.com/disclaimer.htm

DISCLAIMER: OTCStockReview.com is Source of all content listed above. FN Media Group, LLC (FNM), is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with OTCStockReview.com or any company mentioned herein. The commentary, views and opinions expressed in this release by OTCStockReview.com are solely those of OTCStockReview.com and are not shared by and do not reflect in any manner the views or opinions of FNM. The companies that are discussed herein may or may not have approved the statements made in this release. FNM is not liable for any investment decisions by its readers or subscribers. FNM and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. For current services performed MNU has been compensated one thousand nine hundred dollars for coverage of the current commentary covering issued by Petro River Oil by a non-affiliated third party. MNU HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MNU undertakes no obligation to update such statements.

Source: otcstockreview.com


 

OPEC Agreement Adds to 'Trump Rally'



Palm Beach, FL --December 2, 2016 -- Oil & Gas Market Report recently published an article that included industry commentary based on the recent OPEC Agreement having a positive effect on the Energy sector for companies such as: Petro River Oil Corp. (OTC: PTRC), Resolute Energy Corporation (NYSE: REN),  Devon Energy Corporation (NYSE: DVN), Oasis Petroleum Inc. (NYSE: OAS) and California Resources Corporation (NYSE: CRC)

Oil prices soared nearly 10% on news that OPEC has reached a much anticipated agreement to reduce output by 1.2M barrels per day, bringing the total daily production to 32.5M bpd. Read this and more industry commentary at http://ogmarketreport.com/opec-agreement-adds-trump-rally/

The agreement, which was announced Wednesday at 11:00am EST, is contingent on a reduction of production by 600,000 bpd from non-OPEC countries, with Russia agreeing to take up half of that reduced commitment.

“We received support and pledges (from non-OPEC countries) to contribute to that 600,000 and I’m glad to report the Russian federation has agreed to reduce 300,000 barrels,” said OPEC president HE Dr. Mohammed Bin Saleh Al-Sada. “The market needs to be rebalanced. This is a major step forward and we think it’s a historic moment to come to this agreement.”

U.S. oil stocks reacted positively to the news. Resolute Energy Corporation (NYSE: REN) was up over 17%, Devon Energy Corporation (NYSE: DVN) was up 14%, Exxon Mobil ( XON) increased over 2% and California Resources Corporation (NYSE: CRC) up nearly 40% right after the OPEC announcement.

The news is welcome to both conventional oil companies like Petro River Oil (OTC: PTRC), up over 15%, and shale players such as Range Resource ( RRC) and Oasis Petroleum Inc. (NYSE: OAS). Chesapeake was up over 10% after the OPEC press conference.

With the Trump administration vowing to deregulate several sectors, we see Petro River and other small cap producers benefiting from easing of regulations — which in Petro’s case has ceased oil production in Osage County, Oklahoma.

The agreement is effective January 1, 2017, and OPEC said Saudi Arabia will take the majority of the proposed reduction by 468,000 bpd. The organization, based in Vienna, Austria, also said it has established a ministerial monitoring committee that includes Kuwait, Venezuela and Algeria to ensure the lower production rules.

OPEC also suspended Indonesia from membership after the country refused to agree on a reduction of production. Bin Saleh Al-Sada said the country could come back in a reduced capacity.

“We are considering the market conditions, the supply and demand and the stock overhang,” said Bin Saleh Al-Sada. “We take into consideration the interest of the consumers and producers as well as the economy. We think having a rebalanced market will benefit all.”

Source: ogmarketreport.com

Petro River Oil Corp. (OTC: PTRC) http://petroriveroil.com/  is an independent energy company with its core holdings in Northeast Oklahoma, the Larne Basin in Northern Ireland, and Mountain View, California. Petro River's strategy is to apply modern technology, such as 3D seismic analysis to exploit hydrocarbon-prone resources in historically prolific plays and underexplored prospective basins to build reserves and to create value for the Company and its shareholders.

Petro River has applied for permits to drill four exploration wells on its Osage concession prior to year-end, or as soon as drilling permits are issued by the BIA.

DISCLAIMER: OGMmarketRreport.com is Source of all content listed above. FN Media Group, LLC (FNM), is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with OGMmarketRreport.com or any company mentioned herein. The commentary, views and opinions expressed in this release by OGMmarketRreport.com are solely those of OGMmarketRreport.com and are not shared by and do not reflect in any manner the views or opinions of FNM. The companies that are discussed herein may or may not have approved the statements made in this release. FNM is not liable for any investment decisions by its readers or subscribers. FNM and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. For current services performed MNU has been compensated one thousand nine hundred dollars for coverage of the current commentary covering issued by Petro River Oil by a non-affiliated third party. MNU HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

Source:  OGMmarketRreport.com

 

Positive Changes Appear on the Horizon for Energy Developers



DENVER, CO  -- November 22, 2016 --  Oil&Gas360.com recently published an article that included industry commentary based on the elections regarding the future of the Energy sector for companies such as: Petro River Oil (OTC: PTRC), ExxonMobil (NYSE: XOM), Devon Energy (NYSE: DVN),  Chevron Corporation (NYSE: CVX),  Resolute Energy Corporation (NYSE: REN) and Continental Resources (NYSE: CLR)

Post Election Rally
As markets continue to soar post-election day, with shipping company DryShips Inc. (NASDAQ: DRYS) leading the charge with astounding 1600% gains, market watchers are closely scrutinizing sectors including banking, energy and defense as President-Elect Donald Trump has promised to overhaul regulations across the board.  Read this and more industry commentary at http://www.oilandgas360.com/the-trump-effect/

The oil and gas industry is by nature optimistic, and with the recent strength shown by oil prices reaching the $50 range, shale producers have begun re-deploying capital into projects that just a few months ago were in hibernation.
Myron Ebell, director, Center for Energy and Environment, Competitive Enterprise Institute. Photo: Competitive Enterprise Institute
By appointing noted contrarian and Washington insider Myron Ebell, director of the Center for Energy and Environment at the Competitive Enterprise Institute, to lead the transition of the Environmental Protection Agency (EPA), Donald Trump has signaled that major energy policy changes are on the way.

In fact, Scientific American believes that “Ebell’s participation in the EPA transition signals that the Trump team is looking to drastically reshape the climate policies the agency has pursued under the Obama administration.”

U.S. government policies have restricted companies from commencing projects that could produce millions of barrels of oil, particularly in places like Alaska where Arctic drilling is prohibited, and in Oklahoma, where outdated policies have bogged down permitting and production across historic fields.

Ebell has long called for the opening of federal land for oil exploration, whereas the outgoing administration in 2012 shut down 1.6 million acres to oil shale development. If policies like these are reversed, drilling on federal lands could spark much-needed job growth across the sector. The federal government has been accused of intentionally slowing the permitting process on public lands. A Department of Interior Inspector General report revealed the fact that obtaining drilling permits on federal lands is a long process to say the least. Most state regulators take about 80 days to approve oil and gas drilling permits, while the U.S. government’s Bureau of Land Management (BLM), takes about 225 days to approveHarold Hamm, chairman and CEO of Oklahoma City-based Continental Resources. Photo: Continental Resources a permit, the report said.

In addition to Ebell, Trump energy advisor and oilman Harold Hamm, Chairman and CEO of Oklahoma-based Continental Resources (NYSE: CLR) was mentioned as an early favorite for Energy Secretary, although Hamm says he plans to stay focused on Continental.

All of this means oil producers, including majors like ExxonMobil (NYSE: XOM), Devon Energy (NYSE: DVN) and Chevron (NYSE: CVX) and independents like Resolute Energy (NYSE: REN) have plenty of reason to be optimistic.

The Bureau of Indian Affairs’ pace for issuing drilling permits on the Osage Reservation in Oklahoma has been slow, but companies are in the permitting process and drilling rigs have been contracted to begin work in Osage County, the birthplace of Phillips Petroleum.

New York-based Petro River Oil Corp (OTC Pink: PTRC) is a small oil and gas company that has begun operations in the region by reworking wells on its Osage concession. Petro River has locked up more than 106,000 acres in Osage County on land that abuts the original Oklahoma mega-discovery—the Burbank field. The Oklahoma Historical Society said that from 1901 through 1930 alone 319 million barrels of Oklahoma crude were pumped from the ground in Osage County.

Petro River Oil Corp. is an independent energy company with its core holdings in Northeast Oklahoma, the Larne Basin in Northern Ireland, and Mountain View, California. Petro River's strategy is to apply modern technology, such as 3D seismic analysis to exploit hydrocarbon-prone resources in historically prolific plays and underexplored prospective basins to build reserves and to create value for the Company and its shareholders.

Petro River has applied for permits to drill four exploration wells on its Osage concession prior to year-end, or as soon as drilling permits are issued by the BIA.

Petro River’s Osage play is strictly conventional and the company has mapped out a program for shallow, vertical drilling which it hopes to begin in January 2017. No horizontal drilling and no complex completions are required to generate oil production from the Osage concession, and Petro River has pinpointed the drilling locations using 3D seismic data. The shallow depths of the reservoirs and lower operating costs make Petro River’s 106,000-acre position attractive in today’s oil price environment.

The so-called “Trump Rally” has made some unlikely market darlings of late, and if the new president is successful in rolling back restrictive regulations and is able to speed up permitting on federal and Indian lands, a slew of independent E&P companies could be next up.

Important disclosures: The information provided herein is believed to be reliable; however, EnerCom, Inc. makes no representation or warranty as to its completeness or accuracy. EnerCom’s conclusions are based upon information gathered from sources deemed to be reliable. This note is not intended as an offer or solicitation for the purchase or sale of any security or financial instrument of any company mentioned in this note. This note was prepared for general circulation and does not provide investment recommendations specific to individual investors. All readers of the note must make their own investment decisions based upon their specific investment objectives and financial situation utilizing their own financial advisors as they deem necessary. Investors should consider a company’s entire financial and operational structure in making any investment decisions. Past performance of any company discussed in this note should not be taken as an indication or guarantee of future results. EnerCom is a multi-disciplined management consulting services firm that regularly intends to seek business, or currently may be undertaking business, with companies covered on Oil & Gas 360®, and thereby seeks to receive compensation from these companies for its services. In addition, EnerCom, or its principals or employees, may have an economic interest in any of these companies. As a result, readers of EnerCom’s Oil & Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this note. EnerCom, or its principals or employees, may have an economic interest in any of the companies covered in this report or on Oil & Gas 360®. As a result, readers of EnerCom’s reports or Oil & Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this report.

Oil & Gas 360® c/o EnerCom, Inc.
800 18th Street
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Denver, CO 80202

Source: EnerCom, Inc.

 

 

Petro River Oil Announces Conference Call Following Annual Meeting of Shareholders



NEW YORK, NY -- (Marketwired) -- 09/19/16 -- Petro River Oil (OTCBB: PTRC) ("Petro River" or "The Company") will provide an update for shareholders on recent corporate events, including forward-looking plans, immediately following the Company's annual shareholder meeting on Tuesday, September 20 at 11:45am EDT. The presentation will be provided by Scot Cohen, the Chairman of the Board, and Stephen Brunner, President of Petro River.

Shareholders unable to attend the meeting in person have two options:

Online: An Webex audio webcast will be available at http://bit.ly/2d3Gije.
Phone: Participants can dial number 1-415-655-0002 within the United States.

Messrs. Cohen and Brunner will provide an overview of the Company's 2016 performance and provide a roadmap for future plans, including the Osage County, OK drilling program set to commence in November 2016. Interested parties can review the presentation here http://petroriveroil.com/investor-relations/corporate-summary/.

About: Petro River Oil Corp.

Petro River Oil Corp. (OTCBB: PTRC) is an independent energy company with its core holdings in Northeast Oklahoma, the Larne Basin in Northern Ireland, and Mountain View, California. Petro River's strategy is to apply modern technology, such as 3D seismic analysis to exploit hydrocarbon-prone resources in historically prolific plays and underexplored prospective basins to build reserves and to create value for the Company and its shareholders. For more information, please visit our website at www.petroriveroil.com.

Forward-Looking Statements

This news release contains forward-looking and other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These forward-looking statements, projections and statements are subject to change and could differ materially from final reported results. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made. Petro River assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, Petro River undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect to the matters discussed above. Readers should also carefully review the "Risk Factors" in Petro River's annual report on Form 10-K, its quarterly report on Form 10-Q, and its other reports filed with the SEC under the Securities Exchange Act of 1934, as amended.

For further information, please contact:

Investor Relations
ir@petroriveroil.com
(469) 828-3900

Source: Petro River Oil
 

Petro River Oil Corp. Provides Corporate Update



NEW YORK, NY -- (Marketwired) -- August 15, 2016 -- Petro River Oil (OTCBB: PTRC) ("Petro River" or "The Company") is pleased to provide an update on our ongoing corporate activities, as well as the development plans for our core acreage in Osage County described below.

A new corporate presentation has been made available concurrently with this press release and can be found at http://petroriveroil.com/investor-relations/corporate-presentation.

Core Assets:

The Pearsonia West Concession, Osage County, Oklahoma

The Pearsonia West Concession in Osage County, Oklahoma includes 106,500 contiguous acres centered on the structural trend of the Pearsonia-Blackland-Foraker fields. These fields have produced in excess of 20 million barrels of oil through vertical well development and are adjacent to fields that have produced more than 300 million barrels of oil through vertical production since the early 1900s.

The Company recently reprocessed 35 square miles of 3-D seismic data, which defined 4,480 acres of structural closures containing Pennsylvanian channel and Mississippian chat formations. As a result, Petro River and its operating partners have accelerated its plan to drill four wells in Fall 2016. The program will test the first 1,610 acres of the defined structural closures, which have prospective resource potential of 2,500,000 barrels of oil. Results are expected in November 2016.

We plan to acquire an additional 55 square miles of 3-D seismic in the southern portion of the concession in 2017. Upon success in the initial drilling phase, the Company anticipates providing scalable and repeatable vertical drilling opportunities within the concession.

"Osage County has been producing oil for over a century, and Petro River's operating partners have successfully drilled more than 900 wells in Osage County near our Pearsonia West Concession," commented Mr. Stephen Brunner, President of Petro River. "We are very optimistic, based on our 3-D seismic data, which is the basis for our accelerated four well program in the Fall 2016," added Mr. Brunner. Mr. Brunner, as former president of Constellation Energy from 2008 to 2014, was responsible for over 2000 wells in Osage County.

Larne Basin, Northern Ireland

As a result of historical political issues in Northern Ireland and poor imaging of seismic data (which have both been resolved), the Larne Basin remains the only Carboniferous Basin in Europe that is essentially untested for hydrocarbons. Petro River owns a 9% direct working interest and a 3.2% indirect interest through its investment in Horizon Energy Partners, LLC ("Horizon Energy") in both an onshore license (PL1/10) and offshore license (P2123), which together comprise about 130,000 acres and encompass the heart of the Larne Basin. Good reservoir quality was confirmed from prior drilling and the existence of hydrocarbon traps was evident from recently acquired 2-D seismic data.

As previously disclosed, Petro River announced that the analysis of its first exploratory well in Larne Basin -- Woodburn Forest #1 -- confirmed the presence of an active petroleum system. The discovery of thermogenic gas limits the risks associated with Petro River's Larne Basin exploration program by providing further evidence of a mature source rock within the basin, and supports the Company's prior estimates of prospective resources of more than 1 billion barrels of potential oil and gas equivalents across the license.

Carboniferous-sourced basins throughout Europe are, historically, very prolific. By fulfilling the current work program, the onshore license was extended for a five-year period, which affords ample time for the Company to work with Horizon Energy and other partners to develop Phase II of the exploration program.

Kern County, California

The Kern County Field was discovered in the early 1900's and, to date, has produced in excess of 100 million barrels of oil and gas equivalents from numerous formations. It is ideally located adjacent to one of the richest oil source kitchens in the world. Within a 20-mile radius, over 10 billion barrels of oil have been produced and the area is home to four of the ten largest onshore oilfield discoveries in the United States. The Kern County field is geologically complex and was historically developed primarily by small, competing companies without the benefit of modern seismic data. Petro River's management believes that acquiring a state-of-the-art, modern 3-D seismic survey of the field will reveal numerous undrilled opportunities, resulting in the discovery and production, through primary recovery alone, of up to an additional 36 million barrels of oil. Significant exploratory potential also exists.

Petro River acquired a 13.75% direct working interest and an indirect interest through Horizon Energy's acquisition of a 30% direct working interest in the Kern County Field. The well depths range from 4,000-8,500 feet and the oil is light, in contrast to many of the ''heavy" oil fields nearby. Extensive oil and gas infrastructure are in place. This is a low-risk, uniquely situated opportunity with attractive economics and a profile that is highly sought after in the oil and gas industry.

Our plans for the remainder of 2016 and into 2017 is to process and interpret 3-D seismic survey and possibly drilling an initial test well in 2017.

Corporate Events

Company executives will be presenting the Pearsonia West drilling program at Enercom's The Oil & Gas Conference® 6:25pm EDT today in Denver, CO, which will be streamed live at http://www.theoilandgasconference.com/togc-webcast/ptrc/.

About: Petro River Oil Corp.

Petro River Oil Corp. (PTRC) is an independent energy company with its core holdings in Northeast Oklahoma, the Larne Basin in Northern Ireland, and Kern County, California. Petro River's strategy is to apply modern technology, such as 3-D Seismic analysis to exploit hydrocarbon-prone resources in historically prolific plays and underexplored prospective basins to build reserves and to create value for the Company and its shareholders. For more information, please visit our website at www.petroriveroil.com.

Forward-Looking Statements.

This news release contains forward-looking and other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward looking statements. These forward looking statements, projections and statements are subject to change and could differ materially from final reported results. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made. Petro River assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, Petro River undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect to the matters discussed above. Readers should also carefully review the "Risk Factors" in Petro River's annual report on Form 10-K, its quarterly reports on Form 10-Q, and other reports filed with the SEC under the Securities Exchange Act of 1934, as amended.

For further information, please contact:

Investor Relations
ir@petroriveroil.com
(469) 828-3900

Source: Petro River Oil
 

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About Petro River Oil Corp.:


WHAT WE DO

Petro River Oil Corp. (OTCBB: PTRC) is an independent energy company focused on the exploration and development of conventional oil and gas assets. Petro River’s business model is to enter highly prospective conventional plays with industry-leading partners. Our diversification across multiple projects, each with low initial capital expenditures and strong risk reward characteristics, reduces risk and provides exposure to a number of attractive risk adjusted opportunities.

OUR BUSINESS MODEL

THREE PRINCIPAL ELEMENTS

1. ACQUISITION AND DEVELOPMENT OF OVERLOOKED AND UNDERVALUED ASSETS. WE HAVE IDENTIFIED AND ACQUIRED SUCH ASSETS IN OSAGE COUNTY, OKLAHOMA, IN THE SAN JOAQUIN VALLEY, CALIFORNIA, AND LARNE BASIN, NORTHERN IRELAND. EXPLOIT AND EXPAND KNOWN-PRODUCING OIL-FOCUSED FIELDS AND BASINS THAT HAVE BEEN NEGLECTED DUE TO LACK OF CAPITAL, MODERN IMAGING AND DRILLING ADVANCES.

2. RECOVERY LIMITED TO CONVENTIONAL DRILLING. THE COMPANY DOES NOT ENGAGE IN HORIZONTAL DRILLING, SHALE, TAR SANDS OR DEEPWATER DRILLING. IN DOING SO, WE BELIEVE WE CAN ACHIEVE BREAKEVEN AT $30 PER BBL

3. LEVERAGE SEISMIC IMAGING TO MAXIMIZE RETURNS. TECHNICAL ADVANCES IN IMAGING AND MODELING CAN LOWER RISK AND ENHANCE PRODUCTIVITY. THE COMPANY INTENDS TO UTILIZE 3-D SEISMIC AND OTHER TECHNOLOGICAL ADVANCEMENTS THAT BENEFIT ITS EXPLORATORY AND DEVELOPMENTAL DRILLING

OUR ASSETS
FOCUSED ON LOW-COST PRODUCTION PROGRAM.

Osage County, OK

Petro River is pursuing its core strategy in this well-known basin, drilling vertical wells in relatively shallow conventional legacy reservoirs using modern 3D seismic surveys.

Dorset, U.K.

Petro River and Horizon has interest in 26,000 acres adjacent to the giant Wytch Farm – the largest onshore oil field in Western Europe. Estimated prospective resources is no less than 20MM barrels of oil and 60B cubic feet of gas.

Denmark

Horizon has contractual rights to participate for a 50% interest with Ardent Oil Limited (‘Ardent’), an experienced UK-based oil and gas prospect generating company, in four recently awarded offshore licenses granted to Ardent in the 7th offshore licensing round in Denmark. The licenses are all located in unique geological settings and require modest work programs.

Grapevine Energy, LLC. California

Grapevine Energy, LLC (‘Grapevine’) is a wholly-owned subsidiary of Horizon. It was formed to acquire leasehold interests in Kern County, California and explore for and develop hydrocarbons thereon.

Kern County, California

Petro River and Horizon collectively own a 41.25% working interest in oil and gas leases comprising approximately 7,000 acres, in the San Joaquin Basin in Kern County, California, covering the Kern County field redevelopment project. Horizon has a 27.5% working interest and Petro River a 13.75% working interest.

Larne Basin, Northern Ireland

Due to historical political and geological issues, which now have been resolved, the Larne Basin remains the only Carboniferous Basin in Europe essentially untested for hydrocarbons. Through long-standing industry contacts, Horizon Energy was offered the opportunity to participate on favorable terms in the exploration and development of the Larne Basin

HISTORIC BASINS WITH BILLIONS OF BARRELS STILL IN PLACE

In Oklahoma, The Oklahoma Geologic Survey estimates that there were more than 84 billion barrels of original oil in place in Oklahoma from conventional, historically producing oil reservoirs.

In the San Joaquin Basin, California. A USGS study of the San Joaquin Basin estimated a mean of 6.5 billion barrels of undiscovered, technically recoverable oil.

In Larne Basin, Northern Ireland. The un-risked, potential recoverable resources for the entire Larne Basin are in excess of 1 billion barrels of oil.

OUR STRATEGY
OUR STRATEGY IS TO IDENTIFY, ACQUIRE AND DEVELOP CONVENTIONAL OIL AND GAS ASSETS WITH THE FOLLOWING CHARACTERISTICS:

Low drilling and completion costs --under $10 per barrel of oil.

Partnerships with local operators with deep technical understanding and success in the region.

Utilize 3D seismic technology to identify low risk – high return drilling targets for development.

OUR ADVANTAGES
Our properties lie in historic basins, with considerable oil in place, in fields that haven’t been studied with the benefit of 3D seismic data, further compromised by lack of available capital.

Technical excellence. Petro works with one of the most active drillers and operators in the region and leverages that expertise in the interpretation of geological and operational opportunities

ACQUISITION AND DEVELOPMENT OF OVERLOOKED AND UNDERVALUED ASSETS
We have identified and acquired such assets in Osage County, Oklahoma, in the San Joaquin valley, California, and Larne Basin, Northern Ireland. Exploit and expand known-producing oil-focused fields and basins that have been neglected due to lack of capital, modern imaging and drilling advances.

RECOVERY LIMITED TO CONVENTIONAL DRILLING
The company does not engage in hydraulic fracking, horizontal wells, shale, tar sands or deepwater drilling. In doing so, we believe we can achieve breakeven at $30 per BBL.

LEVERAGE SEISMIC IMAGING TO MAXIMIZE RETURNS
Technical advances in imaging and modeling can lower risk and enhance productivity. The Company intends to utilize 3-D seismic and other technological advancements that benefit its exploratory and developmental drilling program.

LEADERSHIP

Stephen Brunner

Mr. Brunner is a petroleum engineer with over 30 years of operational experience in the exploration and production of domestic and international oil and gas assets. Mr. Brunner also has extensive public company management experience. Since 2008, Mr. Brunner has served as the President and CEO of Constellation Energy Partners, a New York Stock Exchange …

Scot Cohen

Mr. Cohen has over 20 years of experience in institutional asset management, wealth management, and capital markets. Scot founded and served as Principal of the Iroquois Capital Opportunity Fund, a closed-end private equity fund which focused on investments in North American oil and gas. Mr. Cohen also co-founded Iroquois Capital, a New York based hedge …

John Wallace

Mr. Wallace was a professional basketball player associated with the National Basketball Association from June 1996 through May 2004. Since 2009, Mr. Wallace has been an alumni relations and fan development representative for the New York Knicks. In that capacity, Mr. Wallace works on community public relations and fan development initiatives

Glenn C. Pollack

Glenn C. Pollack is a Managing Director and Founder of Candlewood Partners, LLC (“Candlewood”), a merchant bank focused on middle market corporate finance and infrastructure projects. Prior to founding Candlewood, Mr. Pollack was a Managing Director and Principal of a middle market investment-banking firm with offices in Chicago and Cleveland.

Fred Schneiderman

Fred Schneiderman is the President/CEO of FBS Properties, Inc. FBS was established over 25 years ago and has served as an investment platform for Oil & Gas, Real Estate & Private Equity Investments. FBS’s original mandate was to make real estate acquisitions from the Resolution Trust Company (during the Southwest S&L bailouts).

James Rector

Dr. Rector is the Chief Technology and Geophysical Advisor to Petro River. Currently a tenured professor of Geophysics at the University of California, Berkeley, he has a unique background both as a developer and user of technology in the oil and gas industry.

Frederick Zeidman

Fred Zeidman has served as Chairman of the Board of Directors of Petroflow Energy Corporation since September 2011. Mr. Zeidman has also served as a director of Hyperdynamics Corporation since 2009 and as a director of Prosperity Bancshares, Inc. since 1986. He served as trustee for the AremisSoft Liquidating Trust since 2004.

David Briones

Mr. Briones was appointed Chief Financial Officer on August 15, 2013. Since October 1, 2010, Mr. Briones has acted as the managing member of Brio Financial Group, LLC, a financial reporting consulting firm. From January 2006 through September 2010, Mr. Briones managed the public company and hedge fund practices at Bartolomei Pucciarelli, LLC (“BP”).

.SOURCE: http://petroriveroil.com/




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