GRID PETROLEUM
Moderator: kev yorks
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- Posts: 49
- Joined: Thu Mar 22, 2012 11:34 pm
GRID PETROLEUM
A rather interesting share I think.
The share price graph is a tale of woe. They traded at $1.60 ish US almost 2 years ago. Now they are at 2.5 CENTS. Spudding a well in Texas very very soon as the permit was approved today (26th March) following an apparent admin hick up.
Form W-1 as approved: http://webapps.rrc.state.tx.us/dpimages ... 0_0001.pdf
Permit as approved: http://webapps.rrc.state.tx.us/dpimages ... 1_0001.pdf
It's not a wildcat well, they have a good idea from other drills what they expect to find.
The market capital of Grid is only about $3 million, and 20 million cubic feet of gas gives a revenue of $1.8 million a MONTH ?? Plus some oil. But it's gas they are really going for. This will be the first well of a 20 well program.
http://ih.advfn.com/p.php?pid=nmona&article=51342692
More info here below. It's a part of the American ADVFN site called Investorhub. It's OK except for the prats who keep saying "GO GRPR!" as in GO EAGLES! or GO CUBS!
http://investorshub.advfn.com/boards/bo ... d_id=17443
Below is the 2 year chart showing the fall from grace. I still haven't researched why it fell yet. I'm more concerned with the future.
http://ih.advfn.com/p.php?pid=webchart& ... 9&volume=1
It trades on the American OTC stock market as GRPR. Dont think it will be long before it will start to rise upon spud announcement which is imminent.
The share price graph is a tale of woe. They traded at $1.60 ish US almost 2 years ago. Now they are at 2.5 CENTS. Spudding a well in Texas very very soon as the permit was approved today (26th March) following an apparent admin hick up.
Form W-1 as approved: http://webapps.rrc.state.tx.us/dpimages ... 0_0001.pdf
Permit as approved: http://webapps.rrc.state.tx.us/dpimages ... 1_0001.pdf
It's not a wildcat well, they have a good idea from other drills what they expect to find.
The market capital of Grid is only about $3 million, and 20 million cubic feet of gas gives a revenue of $1.8 million a MONTH ?? Plus some oil. But it's gas they are really going for. This will be the first well of a 20 well program.
http://ih.advfn.com/p.php?pid=nmona&article=51342692
More info here below. It's a part of the American ADVFN site called Investorhub. It's OK except for the prats who keep saying "GO GRPR!" as in GO EAGLES! or GO CUBS!
http://investorshub.advfn.com/boards/bo ... d_id=17443
Below is the 2 year chart showing the fall from grace. I still haven't researched why it fell yet. I'm more concerned with the future.
http://ih.advfn.com/p.php?pid=webchart& ... 9&volume=1
It trades on the American OTC stock market as GRPR. Dont think it will be long before it will start to rise upon spud announcement which is imminent.
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- Posts: 49
- Joined: Thu Mar 22, 2012 11:34 pm
Re: GRID PETROLEUM
I spotted it too. Its on the otcbb. Sounds like you're UK based. Have you bought any and if so how? e.g. did you do it through an online trading account?
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- Posts: 49
- Joined: Thu Mar 22, 2012 11:34 pm
Re: GRID PETROLEUM
Need to call your broker to buy / sell. You cant do it online.
Re: GRID PETROLEUM
thx.
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- Posts: 2
- Joined: Tue Apr 17, 2012 9:19 pm
Re: GRID PETROLEUM
Looks like a very interesting play.. noticed volume in the otcbb on the stock was heavy today. Placed a small starter order. Looks like once they get drilling, we can see the pump again from the promoters and that should bring us up.
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- Posts: 49
- Joined: Thu Mar 22, 2012 11:34 pm
Re: GRID PETROLEUM
GRPR Enters into Letter of Intent to Acquire a 10 % Working Interest in the Garcia #3 Well
DENVER, May 3, 2012 /PRNewswire/ -- Grid Petroleum Corp. (OTCBB: GRPR) : The Board of Directors are pleased to announce that Grid Petroleum has entered into a letter of Intent to acquire a Ten percent working interest, Seven point five percent net revenue interest, from a third party interest holder of the Garcia #3 well. (10.0 % WI, 7.5% NRI)
This Letter of Intent is subject to the establishment of an acceptable, ironclad drilling start date for the Garcia #3 Well, which start date is to be determined and agreed to prior to definitive documentation completion.
It is anticipated that the drilling start date will be announced and the closing of this transaction will take place prior to May 10, 2012.
"The Company has been negotiating over the last few weeks with the third party interest holders to obtain this interest to allow the forward progress of the development of the Garcia #3 Well drilling program," stated Grid Petroleum Corp, President James Powell. "The Company is now in a position to have a significant impact on the jump starting of this well and looks forward to a successful start of drilling activity in the very near future.
"The company will announce the start date which is a contingency to the closing of this investment."
The Company previously announced the following based upon information provided by the operator of the Garcia #3, which was dependant upon all interest holders meeting its respective cash calls.
PREVIOUSLY ANNOUNCED:
"The Anticipated Start Date for the Drilling to Commence on the Garcia #3 shall be from April 21, 2012 to April 30, 2012.
The delay has been due to the inability of a third party joint venture investor in the Garcia #3 well to meet its cash call to retain its participation interest.
Grid Petroleum Corp is currently in negotiations to acquire an interest in the Garcia #3 well due to its recent availability.
The company has determined that this participation will enable the further development of the Mutual Area of Interest in a timely basis."
Contact: Parkside Communications Inc. Phone: 1-877-798-4165 Info@ParksideCommunications.com www.ParksideCommunications.com www.gridpetroleum.com
DENVER, May 3, 2012 /PRNewswire/ -- Grid Petroleum Corp. (OTCBB: GRPR) : The Board of Directors are pleased to announce that Grid Petroleum has entered into a letter of Intent to acquire a Ten percent working interest, Seven point five percent net revenue interest, from a third party interest holder of the Garcia #3 well. (10.0 % WI, 7.5% NRI)
This Letter of Intent is subject to the establishment of an acceptable, ironclad drilling start date for the Garcia #3 Well, which start date is to be determined and agreed to prior to definitive documentation completion.
It is anticipated that the drilling start date will be announced and the closing of this transaction will take place prior to May 10, 2012.
"The Company has been negotiating over the last few weeks with the third party interest holders to obtain this interest to allow the forward progress of the development of the Garcia #3 Well drilling program," stated Grid Petroleum Corp, President James Powell. "The Company is now in a position to have a significant impact on the jump starting of this well and looks forward to a successful start of drilling activity in the very near future.
"The company will announce the start date which is a contingency to the closing of this investment."
The Company previously announced the following based upon information provided by the operator of the Garcia #3, which was dependant upon all interest holders meeting its respective cash calls.
PREVIOUSLY ANNOUNCED:
"The Anticipated Start Date for the Drilling to Commence on the Garcia #3 shall be from April 21, 2012 to April 30, 2012.
The delay has been due to the inability of a third party joint venture investor in the Garcia #3 well to meet its cash call to retain its participation interest.
Grid Petroleum Corp is currently in negotiations to acquire an interest in the Garcia #3 well due to its recent availability.
The company has determined that this participation will enable the further development of the Mutual Area of Interest in a timely basis."
Contact: Parkside Communications Inc. Phone: 1-877-798-4165 Info@ParksideCommunications.com www.ParksideCommunications.com www.gridpetroleum.com
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- Posts: 49
- Joined: Thu Mar 22, 2012 11:34 pm
Re: GRID PETROLEUM
Grid Petroleum Reports On Development Plan Of Unconventional Shale, Results Of Partners Meeting
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Alert
Grid Petroleum Corp (OTCBB:GRPR)
Intraday Stock Chart
Today : Monday 7 May 2012
Grid Petroleum Corporation (OTC.BB: GRPR.OB) ("The Company") is pleased to announce the following points of information and development which are the results of a Kreyenhagen Trend Partners meeting held in April of 2012.
Solimar Energy Limited as operator has been active on the Kreyenhagen Trend Prospect:
All Kreyenhagen Trend leases have been renewed with the first lease requiring payment at end of 2012 - Approximately $10,000 of lease payments will be due from Grid petroleum Corp in October 2012 as per the 2nd settlement agreement negotiated last fall.
According to the terms of the 2nd settlement agreement, Grid Petroleum Corp is carried for all lease payment expenses through September 1 of 2012. Several of the leases required renewal during the last quarter of 2011 and the first quarter of 2012. Pursuant to the terms of the January 20, 2011 Asset transfer agreement and to the November 21, 2011 amendments of the January agreement, the company has a carry of all lease payments during this period. Several of the mineral rights owners required 2 years of pre payment lease payments with one mineral rights owner requiring 3 years of pre payments to extend. Grid Petroleum Corp was carried by Solimar Energy Limited for these lease extensions.
DRILL SITE SELECTION KREYENHAGEN TREND :
6 wells have been submitted to the State of California for permitting.
Bawden 1-24 – The well that Grid Petroleum Corp has a Carried Interest or Farm-in well where Grid Petroleum Corp will not have any expenses and is carried 100%. Target Zone: Temblor Test
Vintage 1-17 - Temblor Test
Vintage 1-21 - Temblor Test
Den Hartog A-1 - Avenal Test
Den Hartog A-2 - Avenal Test
Den Hartog A-3 - Avenal Test
PERMITTING PROCESS REQUIREMENTS:
Each Drilling permit requires a Blunt Nose Lizard "study" to be conducted once in the spring, which is currently underway by an outside service, and once again in the Fall. After the study is finalized the drilling permits can be issued and the drilling process will start. The partners are Planning a late fall window to spud the Bawden 1-24. (Last Quarter of 2012).
The Geological study was conducted on the Kreyenhagen Trend as well as the Kreyenhagen Ranch. Grid Petroleum Corp. will be provided with the information specific to the Trend acreage. This information will speak specifically to the well selection of the 6 wells listed above. Grid Petroleum Corp will not be charged for any expense of the study as it falls under the management of the 2nd Settlement Agreement.
Solimar Energy is in the process of providing the finished survey to Grid Petroleum Corp imminently.
Grid Petroleum Corp. is a development stage company focused on the acquisition and development of low cost high reward oil and gas prospects with infield drilling for proven potential reserves in the United States and Canada.
Contact: Parkside Communications Inc. Phone: 1-877-798-4165 Info@ParksideCommunications.comwww.ParksideCommunications.com www.gridpetroleum.com
Legal Notice Regarding Forward-Looking Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined, and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed.
Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas reserves, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of oil or gas are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information on risks for the Company can be found in the Company's periodic filings filed from time to time with US Securities and Exchange Commission at www.sec.gov.
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). They may not be offered or sold in the United States (as defined in Regulation S under the Securities Act), except pursuant to an exemption from the registration requirements of the Securities Act.
Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms such as estimates of a mean of undiscovered natural gas and estimates of a mean of undiscovered oil that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K and other periodic reports filed by us from time to time with the SEC, available from us at www.sec.gov. You can also obtain this form from the SEC by calling 1-800-SEC-0330.
SOURCE Grid Petroleum Corporation
Alert
Grid Petroleum Corp (OTCBB:GRPR)
Intraday Stock Chart
Today : Monday 7 May 2012
Grid Petroleum Corporation (OTC.BB: GRPR.OB) ("The Company") is pleased to announce the following points of information and development which are the results of a Kreyenhagen Trend Partners meeting held in April of 2012.
Solimar Energy Limited as operator has been active on the Kreyenhagen Trend Prospect:
All Kreyenhagen Trend leases have been renewed with the first lease requiring payment at end of 2012 - Approximately $10,000 of lease payments will be due from Grid petroleum Corp in October 2012 as per the 2nd settlement agreement negotiated last fall.
According to the terms of the 2nd settlement agreement, Grid Petroleum Corp is carried for all lease payment expenses through September 1 of 2012. Several of the leases required renewal during the last quarter of 2011 and the first quarter of 2012. Pursuant to the terms of the January 20, 2011 Asset transfer agreement and to the November 21, 2011 amendments of the January agreement, the company has a carry of all lease payments during this period. Several of the mineral rights owners required 2 years of pre payment lease payments with one mineral rights owner requiring 3 years of pre payments to extend. Grid Petroleum Corp was carried by Solimar Energy Limited for these lease extensions.
DRILL SITE SELECTION KREYENHAGEN TREND :
6 wells have been submitted to the State of California for permitting.
Bawden 1-24 – The well that Grid Petroleum Corp has a Carried Interest or Farm-in well where Grid Petroleum Corp will not have any expenses and is carried 100%. Target Zone: Temblor Test
Vintage 1-17 - Temblor Test
Vintage 1-21 - Temblor Test
Den Hartog A-1 - Avenal Test
Den Hartog A-2 - Avenal Test
Den Hartog A-3 - Avenal Test
PERMITTING PROCESS REQUIREMENTS:
Each Drilling permit requires a Blunt Nose Lizard "study" to be conducted once in the spring, which is currently underway by an outside service, and once again in the Fall. After the study is finalized the drilling permits can be issued and the drilling process will start. The partners are Planning a late fall window to spud the Bawden 1-24. (Last Quarter of 2012).
The Geological study was conducted on the Kreyenhagen Trend as well as the Kreyenhagen Ranch. Grid Petroleum Corp. will be provided with the information specific to the Trend acreage. This information will speak specifically to the well selection of the 6 wells listed above. Grid Petroleum Corp will not be charged for any expense of the study as it falls under the management of the 2nd Settlement Agreement.
Solimar Energy is in the process of providing the finished survey to Grid Petroleum Corp imminently.
Grid Petroleum Corp. is a development stage company focused on the acquisition and development of low cost high reward oil and gas prospects with infield drilling for proven potential reserves in the United States and Canada.
Contact: Parkside Communications Inc. Phone: 1-877-798-4165 Info@ParksideCommunications.comwww.ParksideCommunications.com www.gridpetroleum.com
Legal Notice Regarding Forward-Looking Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined, and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed.
Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas reserves, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of oil or gas are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information on risks for the Company can be found in the Company's periodic filings filed from time to time with US Securities and Exchange Commission at www.sec.gov.
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). They may not be offered or sold in the United States (as defined in Regulation S under the Securities Act), except pursuant to an exemption from the registration requirements of the Securities Act.
Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms such as estimates of a mean of undiscovered natural gas and estimates of a mean of undiscovered oil that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K and other periodic reports filed by us from time to time with the SEC, available from us at www.sec.gov. You can also obtain this form from the SEC by calling 1-800-SEC-0330.
SOURCE Grid Petroleum Corporation
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- Posts: 49
- Joined: Thu Mar 22, 2012 11:34 pm
Re: GRID PETROLEUM
Grid Petroleum Corp: Acquires 10 % Working Interest in the Garcia #3 Well.
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Alert
Grid Petroleum Corp (OTCBB:GRPR)
Intraday Stock Chart
Today : Thursday 24 May 2012
Click Here for more Grid Petroleum Corp Charts.
Grid Petroleum Corp. (OTCBB: GRPR): The Board of Directors are pleased to announce that Grid Petroleum has completed its subject removal allowing the company to close upon the terms of the Letter of Intent to acquire a Ten percent working interest, Seven point five percent net revenue interest, from a third party interest holder of the Garcia #3 well. (10.0 % WI, 7.5% NRI)
The Company previously announced the following statements, outlining principal conditions to the closing of the Acquisition of an Interest in the Garcia #3 Well,
"This Letter of Intent is subject to the establishment of an acceptable, ironclad drilling start date for the Garcia #3 Well, which start date is to be determined and agreed to prior to definitive documentation completion."
Upon further diligence by the company, all known conditions previously delaying the start of the drilling of the Garcia #3 well have been removed, and the well start date is now subject to drill rig availability.
"The Company has previously announced in error, anticipated start dates based upon information available at time of those announcements," stated Grid Petroleum Corp, President James Powell. "The Company now endeavors to keep the shareholders updated as accurately as possible during the ramp up to the drilling of the Garcia #3 well and beyond."
The Company previously announced the following based upon information provided by the operator of the Garcia #3, which was dependent upon all interest holders meeting its respective cash calls.
The Company has determined that with this investment the operator has enough funds to drill the Garcia #3 to depth.
"The Anticipated Start Date for the Drilling to Commence on the Garcia #3 shall be from April 21, 2012 to April 30, 2012."
The Garcia #3 well is the next scheduled well to be drilled by the contracted Drill Rig and its operating crew. The rig is currently in the final days of completion of a previously committed contract and will move to the Garcia #3 drill site when available.
The delay has been due to the inability of a third party joint venture investor in the Garcia #3 well to meet its cash call to retain its participation interest.
Grid Petroleum Corp has acquired a 10 percent interest in the Garcia #3 well due to its recent availability.
The Company has determined that with this investment the operator has enough funds to drill the Garcia #3 to depth.
The company has determined that this participation will enable the further development of the Mutual Area of Interest in a timely basis.
Grid Petroleum Corp. is a development stage company focused on the acquisition and development of low cost high reward oil and gas prospects with infield drilling for proven potential reserves in the United States and Canada.
Contact: Parkside Communications Inc. Phone: 1-877-798-4165 Info@ParksideCommunications.comwww.ParksideCommunications.com www.gridpetroleum.com
Legal Notice Regarding Forward-Looking Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined, and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed.
Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas reserves, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of oil or gas are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information on risks for the Company can be found in the Company's periodic filings filed from time to time with US Securities and Exchange Commission at www.sec.gov.
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). They may not be offered or sold in the United States (as defined in Regulation S under the Securities Act), except pursuant to an exemption from the registration requirements of the Securities Act.
Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms such as estimates of a mean of undiscovered natural gas and estimates of a mean of undiscovered oil that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K and other periodic reports filed by us from time to time with the SEC, available from us at www.sec.gov. You can also obtain this form from the SEC by calling 1-800-SEC-0330.
SOURCE Grid Petroleum Corp.
Alert
Grid Petroleum Corp (OTCBB:GRPR)
Intraday Stock Chart
Today : Thursday 24 May 2012
Click Here for more Grid Petroleum Corp Charts.
Grid Petroleum Corp. (OTCBB: GRPR): The Board of Directors are pleased to announce that Grid Petroleum has completed its subject removal allowing the company to close upon the terms of the Letter of Intent to acquire a Ten percent working interest, Seven point five percent net revenue interest, from a third party interest holder of the Garcia #3 well. (10.0 % WI, 7.5% NRI)
The Company previously announced the following statements, outlining principal conditions to the closing of the Acquisition of an Interest in the Garcia #3 Well,
"This Letter of Intent is subject to the establishment of an acceptable, ironclad drilling start date for the Garcia #3 Well, which start date is to be determined and agreed to prior to definitive documentation completion."
Upon further diligence by the company, all known conditions previously delaying the start of the drilling of the Garcia #3 well have been removed, and the well start date is now subject to drill rig availability.
"The Company has previously announced in error, anticipated start dates based upon information available at time of those announcements," stated Grid Petroleum Corp, President James Powell. "The Company now endeavors to keep the shareholders updated as accurately as possible during the ramp up to the drilling of the Garcia #3 well and beyond."
The Company previously announced the following based upon information provided by the operator of the Garcia #3, which was dependent upon all interest holders meeting its respective cash calls.
The Company has determined that with this investment the operator has enough funds to drill the Garcia #3 to depth.
"The Anticipated Start Date for the Drilling to Commence on the Garcia #3 shall be from April 21, 2012 to April 30, 2012."
The Garcia #3 well is the next scheduled well to be drilled by the contracted Drill Rig and its operating crew. The rig is currently in the final days of completion of a previously committed contract and will move to the Garcia #3 drill site when available.
The delay has been due to the inability of a third party joint venture investor in the Garcia #3 well to meet its cash call to retain its participation interest.
Grid Petroleum Corp has acquired a 10 percent interest in the Garcia #3 well due to its recent availability.
The Company has determined that with this investment the operator has enough funds to drill the Garcia #3 to depth.
The company has determined that this participation will enable the further development of the Mutual Area of Interest in a timely basis.
Grid Petroleum Corp. is a development stage company focused on the acquisition and development of low cost high reward oil and gas prospects with infield drilling for proven potential reserves in the United States and Canada.
Contact: Parkside Communications Inc. Phone: 1-877-798-4165 Info@ParksideCommunications.comwww.ParksideCommunications.com www.gridpetroleum.com
Legal Notice Regarding Forward-Looking Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined, and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed.
Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas reserves, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of oil or gas are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information on risks for the Company can be found in the Company's periodic filings filed from time to time with US Securities and Exchange Commission at www.sec.gov.
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). They may not be offered or sold in the United States (as defined in Regulation S under the Securities Act), except pursuant to an exemption from the registration requirements of the Securities Act.
Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms such as estimates of a mean of undiscovered natural gas and estimates of a mean of undiscovered oil that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K and other periodic reports filed by us from time to time with the SEC, available from us at www.sec.gov. You can also obtain this form from the SEC by calling 1-800-SEC-0330.
SOURCE Grid Petroleum Corp.
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- Posts: 49
- Joined: Thu Mar 22, 2012 11:34 pm
Re: GRID PETROLEUM
At Last !!
Grid Petroleum Corp. Provides Drilling Progress Report.
By Grid Petroleum Corp.
Published: Tuesday, Aug. 14, 2012 - 10:33 am
DENVER, Aug. 14, 2012 -- /PRNewswire/ -- Grid Petroleum Corp. (OTCBB: GRPR): The Board of Directors are pleased to announce that Grid Petroleum has received Notification from the Premont Joint Venture Operator, Progas Services Inc, that the Scorpion Number 1 drilling rig has spud the Garcia #3 well and surface casing has been set.
The Scorpion drilling rig #1 has been on location drilling for three days and has reached a depth of over 1900 feet, with no adverse drilling issues to date.
"The Company is very pleased with the progress of the drilling to date." Stated Company President James Powell, "it is anticipated that the drilling progress will slow in the next few days as the drilling encounters critical geological formations which will slow the daily drilling progress."
The Garcia # 3 will be drilled to a total depth of approximately 4,000 feet or upon reaching target zones identified in the area.
The Company will monitor situation on a daily basis and report progress in the drilling as it develops.
Grid Petroleum Corp. is a development stage company focused on the acquisition and development of low cost high reward oil and gas prospects with infield drilling for proven potential reserves in the United States and Canada.
Contact: www.gridpetroleum.com Parkside Communications Inc. Phone: 1-877-798-4165 Info@ParksideCommunications.com www.ParksideCommunications.com
Legal Notice Regarding Forward-Looking Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined, and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed.
Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas reserves, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of oil or gas are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information on risks for the Company can be found in the Company's periodic filings filed from time to time with US Securities and Exchange Commission at www.sec.gov.
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). They may not be offered or sold in the United States (as defined in Regulation S under the Securities Act), except pursuant to an exemption from the registration requirements of the Securities Act.
Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms such as estimates of a mean of undiscovered natural gas and estimates of a mean of undiscovered oil that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K and other periodic reports filed by us from time to time with the SEC, available from us at www.sec.gov. You can also obtain this form from the SEC by calling 1-800-SEC-0330.
SOURCE Grid Petroleum Corp.
Read more here: http://www.sacbee.com/2012/08/14/472488 ... rylink=cpy
Grid Petroleum Corp. Provides Drilling Progress Report.
By Grid Petroleum Corp.
Published: Tuesday, Aug. 14, 2012 - 10:33 am
DENVER, Aug. 14, 2012 -- /PRNewswire/ -- Grid Petroleum Corp. (OTCBB: GRPR): The Board of Directors are pleased to announce that Grid Petroleum has received Notification from the Premont Joint Venture Operator, Progas Services Inc, that the Scorpion Number 1 drilling rig has spud the Garcia #3 well and surface casing has been set.
The Scorpion drilling rig #1 has been on location drilling for three days and has reached a depth of over 1900 feet, with no adverse drilling issues to date.
"The Company is very pleased with the progress of the drilling to date." Stated Company President James Powell, "it is anticipated that the drilling progress will slow in the next few days as the drilling encounters critical geological formations which will slow the daily drilling progress."
The Garcia # 3 will be drilled to a total depth of approximately 4,000 feet or upon reaching target zones identified in the area.
The Company will monitor situation on a daily basis and report progress in the drilling as it develops.
Grid Petroleum Corp. is a development stage company focused on the acquisition and development of low cost high reward oil and gas prospects with infield drilling for proven potential reserves in the United States and Canada.
Contact: www.gridpetroleum.com Parkside Communications Inc. Phone: 1-877-798-4165 Info@ParksideCommunications.com www.ParksideCommunications.com
Legal Notice Regarding Forward-Looking Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined, and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed.
Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas reserves, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of oil or gas are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information on risks for the Company can be found in the Company's periodic filings filed from time to time with US Securities and Exchange Commission at www.sec.gov.
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). They may not be offered or sold in the United States (as defined in Regulation S under the Securities Act), except pursuant to an exemption from the registration requirements of the Securities Act.
Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms such as estimates of a mean of undiscovered natural gas and estimates of a mean of undiscovered oil that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K and other periodic reports filed by us from time to time with the SEC, available from us at www.sec.gov. You can also obtain this form from the SEC by calling 1-800-SEC-0330.
SOURCE Grid Petroleum Corp.
Read more here: http://www.sacbee.com/2012/08/14/472488 ... rylink=cpy
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Re: GRID PETROLEUM
Garcia #3 Drilling has Reached Total Depth. Oil Shows Indicated.
By Grid Petroleum Corp.
Published: Monday, Aug. 20, 2012 - 5:36 am
DENVER, Aug. 20, 2012 -- /PRNewswire/ -- Grid Petroleum Corp. (OTCBB: GRPR): The Board of Directors is pleased to announce that Grid Petroleum has received Notification from the Premont Joint Venture Operator, Progas Services Inc, that the Scorpion Number 1 has reached the wells total depth of 3850 feet.
The Scorpion drilling rig #1 has been on location drilling for nine days and has reached a depth of over 3850 feet, with no adverse drilling issues to date.
The well is in the process of being Gamma Ray logged by the onsite geologist analyzing and interpreting the logs to determine the commercial viability of the Garcia #3 well.
Target geological zones have been identified and cored for further analysis to determine porosity and permeability.
"Grid Petroleum has been informed that there are significant Oil shows during the later stages of the drilling when the target formations were encountered," states Grid Petroleum Corp president James Powell. "The indications we have received so far are very positive to date, however an accurate determination of the commercial viability of the Garcia #3 well will be made upon the completion of the analysis of the well logs and core data."
The Company will monitor situation and report progress regarding the well log interpretation and core data as it develops.
Grid Petroleum Corp. is a development stage company focused on the acquisition and development of low cost high reward oil and gas prospects with infield drilling for proven potential reserves in the United States and Canada.
Contact: www.gridpetroleum.com Parkside Communications Inc. Phone: 1-877-798-4165 Info@ParksideCommunications.com www.ParksideCommunications.com
Legal Notice Regarding Forward-Looking Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined, and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed.
Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas reserves, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of oil or gas are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information on risks for the Company can be found in the Company's periodic filings filed from time to time with US Securities and Exchange Commission at www.sec.gov.
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). They may not be offered or sold in the United States (as defined in Regulation S under the Securities Act), except pursuant to an exemption from the registration requirements of the Securities Act.
Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms such as estimates of a mean of undiscovered natural gas and estimates of a mean of undiscovered oil that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K and other periodic reports filed by us from time to time with the SEC, available from us at www.sec.gov. You can also obtain this form from the SEC by calling 1-800-SEC-0330.
SOURCE Grid Petroleum Corp.
Read more here: http://www.sacbee.com/2012/08/20/474084 ... rylink=cpy
By Grid Petroleum Corp.
Published: Monday, Aug. 20, 2012 - 5:36 am
DENVER, Aug. 20, 2012 -- /PRNewswire/ -- Grid Petroleum Corp. (OTCBB: GRPR): The Board of Directors is pleased to announce that Grid Petroleum has received Notification from the Premont Joint Venture Operator, Progas Services Inc, that the Scorpion Number 1 has reached the wells total depth of 3850 feet.
The Scorpion drilling rig #1 has been on location drilling for nine days and has reached a depth of over 3850 feet, with no adverse drilling issues to date.
The well is in the process of being Gamma Ray logged by the onsite geologist analyzing and interpreting the logs to determine the commercial viability of the Garcia #3 well.
Target geological zones have been identified and cored for further analysis to determine porosity and permeability.
"Grid Petroleum has been informed that there are significant Oil shows during the later stages of the drilling when the target formations were encountered," states Grid Petroleum Corp president James Powell. "The indications we have received so far are very positive to date, however an accurate determination of the commercial viability of the Garcia #3 well will be made upon the completion of the analysis of the well logs and core data."
The Company will monitor situation and report progress regarding the well log interpretation and core data as it develops.
Grid Petroleum Corp. is a development stage company focused on the acquisition and development of low cost high reward oil and gas prospects with infield drilling for proven potential reserves in the United States and Canada.
Contact: www.gridpetroleum.com Parkside Communications Inc. Phone: 1-877-798-4165 Info@ParksideCommunications.com www.ParksideCommunications.com
Legal Notice Regarding Forward-Looking Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined, and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed.
Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas reserves, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of oil or gas are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information on risks for the Company can be found in the Company's periodic filings filed from time to time with US Securities and Exchange Commission at www.sec.gov.
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). They may not be offered or sold in the United States (as defined in Regulation S under the Securities Act), except pursuant to an exemption from the registration requirements of the Securities Act.
Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms such as estimates of a mean of undiscovered natural gas and estimates of a mean of undiscovered oil that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K and other periodic reports filed by us from time to time with the SEC, available from us at www.sec.gov. You can also obtain this form from the SEC by calling 1-800-SEC-0330.
SOURCE Grid Petroleum Corp.
Read more here: http://www.sacbee.com/2012/08/20/474084 ... rylink=cpy
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Re: GRID PETROLEUM
- Skills acquisition
Weapons and skills needed to slowly learned through the use of weapons and combat skills because their name implies weapons skills is the use of weapons, so you do not need to go looking for the skills of the trainer and then choose to unlock what skills through non-stop use, you will naturally grasp the actual use of the weapon. As previously said, the weapons skills to decide according to the type of weapons, not the weapons of the individual, so once you use a Swords learned all five skills, you pick up another can be used as Swords five skills, without the need to re-learn slowly, they are the same type of weapon it. First to take up arms, [url=http://www.salegw2gold.com][b]cheap guild wars 2 gold port[/b][/url] you will be able to use the technology first, followed by the sequence slowly learned skills 2 to 5. Treatment skills, generic skills and elite skills is another matter, and they need to learn the skill points, each skill must spend a number of skill points to learn, but once the players get skill points, you can according to their own like order to learn the skills, the knowledge and learning skills required number of points ranging from 1-14. The game will have more than 200 skill challenges await players, including the fight against [url=http://www.salegw2gold.com][b]guild wars 2 gold[/b][/url] a powerful opponent guessing even drink spirits competition. Current knowledge, the players do not need all the skills challenge mayalso have a sufficient number of points to learn all the skills, you just need to pick you want to challenge those on it, of course you can also choose to they all are completed.
Weapons and skills needed to slowly learned through the use of weapons and combat skills because their name implies weapons skills is the use of weapons, so you do not need to go looking for the skills of the trainer and then choose to unlock what skills through non-stop use, you will naturally grasp the actual use of the weapon. As previously said, the weapons skills to decide according to the type of weapons, not the weapons of the individual, so once you use a Swords learned all five skills, you pick up another can be used as Swords five skills, without the need to re-learn slowly, they are the same type of weapon it. First to take up arms, [url=http://www.salegw2gold.com][b]cheap guild wars 2 gold port[/b][/url] you will be able to use the technology first, followed by the sequence slowly learned skills 2 to 5. Treatment skills, generic skills and elite skills is another matter, and they need to learn the skill points, each skill must spend a number of skill points to learn, but once the players get skill points, you can according to their own like order to learn the skills, the knowledge and learning skills required number of points ranging from 1-14. The game will have more than 200 skill challenges await players, including the fight against [url=http://www.salegw2gold.com][b]guild wars 2 gold[/b][/url] a powerful opponent guessing even drink spirits competition. Current knowledge, the players do not need all the skills challenge mayalso have a sufficient number of points to learn all the skills, you just need to pick you want to challenge those on it, of course you can also choose to they all are completed.
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Re: GRID PETROLEUM
Ben
Can you post something about spamming skills please... Your use of the the word "skill" was very impressive. Can you write a RNS?
Can you post something about spamming skills please... Your use of the the word "skill" was very impressive. Can you write a RNS?
-
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- Joined: Thu Mar 22, 2012 11:34 pm
Re: GRID PETROLEUM
Garcia #3 Well to be Completed for Commercial Production Testing
PR Newswire
DENVER, Aug. 22, 2012 /PRNewswire/ -- Grid Petroleum Corp. (OTCBB: GRPR): The Board of Directors is pleased to announce that Grid Petroleum has received Notification from the Premont Joint Venture Operator, Progas Services Inc, that the Scorpion Number 1 has completed the drilling of the Garcia #3 well.
The Scorpion drilling rig #1 has been on location drilling for 11 days and has reached a depth of over 3850 feet.
The well has been Gamma Ray logged and Percussion Cored with the onsite geologist analyzing and interpreting the logs to determine the commercial viability of the Garcia #3 well.
It has been determined that the Garcia #3 well will be cased to depth and cemented for completion by August 21.
Upon the completion of the final cementing of the casing the Scorpion #1 Rig will be released to allow for the contracting of a lighter work-over rig to complete the Garcia #3 well.
"The completion is an involved and multi step process that requires a lighter duty rig to clean the drill bore, perforate the casing and hang tubing to name but a few of the tasks required to bring the well to the point of testing for initial production flow rates," states Grid Petroleum Corp. president James Powell. "We expect that the Garcia #3 will produce commercially as expected, if not significantly better than previously estimated."
The completion process can take several weeks before reliable production numbers can be disseminated.
The company will provide progress updates as they become available regarding the Garcia #3 and other anticipated drilling activity in the near future.
Grid Petroleum Corp. is a development stage company focused on the acquisition and development of low cost high reward oil and gas prospects with infield drilling for proven potential reserves in the United States and Canada.
Contact: www.gridpetroleum.com Parkside Communications Inc. Phone: 1-877-798-4165 Info@ParksideCommunications.comwww.ParksideCommunications.com
Legal Notice Regarding Forward-Looking Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined, and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed.
Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas reserves, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of oil or gas are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information on risks for the Company can be found in the Company's periodic filings filed from time to time with US Securities and Exchange Commission at www.sec.gov.
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). They may not be offered or sold in the United States (as defined in Regulation S under the Securities Act), except pursuant to an exemption from the registration requirements of the Securities Act.
Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms such as estimates of a mean of undiscovered natural gas and estimates of a mean of undiscovered oil that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K and other periodic reports filed by us from time to time with the SEC, available from us at www.sec.gov. You can also obtain this form from the SEC by calling 1-800-SEC-0330.
SOURCE Grid Petroleum Corp.
PR Newswire
DENVER, Aug. 22, 2012 /PRNewswire/ -- Grid Petroleum Corp. (OTCBB: GRPR): The Board of Directors is pleased to announce that Grid Petroleum has received Notification from the Premont Joint Venture Operator, Progas Services Inc, that the Scorpion Number 1 has completed the drilling of the Garcia #3 well.
The Scorpion drilling rig #1 has been on location drilling for 11 days and has reached a depth of over 3850 feet.
The well has been Gamma Ray logged and Percussion Cored with the onsite geologist analyzing and interpreting the logs to determine the commercial viability of the Garcia #3 well.
It has been determined that the Garcia #3 well will be cased to depth and cemented for completion by August 21.
Upon the completion of the final cementing of the casing the Scorpion #1 Rig will be released to allow for the contracting of a lighter work-over rig to complete the Garcia #3 well.
"The completion is an involved and multi step process that requires a lighter duty rig to clean the drill bore, perforate the casing and hang tubing to name but a few of the tasks required to bring the well to the point of testing for initial production flow rates," states Grid Petroleum Corp. president James Powell. "We expect that the Garcia #3 will produce commercially as expected, if not significantly better than previously estimated."
The completion process can take several weeks before reliable production numbers can be disseminated.
The company will provide progress updates as they become available regarding the Garcia #3 and other anticipated drilling activity in the near future.
Grid Petroleum Corp. is a development stage company focused on the acquisition and development of low cost high reward oil and gas prospects with infield drilling for proven potential reserves in the United States and Canada.
Contact: www.gridpetroleum.com Parkside Communications Inc. Phone: 1-877-798-4165 Info@ParksideCommunications.comwww.ParksideCommunications.com
Legal Notice Regarding Forward-Looking Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined, and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed.
Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas reserves, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of oil or gas are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information on risks for the Company can be found in the Company's periodic filings filed from time to time with US Securities and Exchange Commission at www.sec.gov.
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). They may not be offered or sold in the United States (as defined in Regulation S under the Securities Act), except pursuant to an exemption from the registration requirements of the Securities Act.
Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms such as estimates of a mean of undiscovered natural gas and estimates of a mean of undiscovered oil that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K and other periodic reports filed by us from time to time with the SEC, available from us at www.sec.gov. You can also obtain this form from the SEC by calling 1-800-SEC-0330.
SOURCE Grid Petroleum Corp.
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Re: GRID PETROLEUM
Garcia #3 Well Percussion Core Sample Analysis
PR Newswire
DENVER, Aug. 27, 2012 /PRNewswire/ -- Grid Petroleum Corp. (OTCBB: GRPR): The Board of Directors is pleased to announce that Grid Petroleum has received from the Premont Joint Venture Operator, Progas Services Inc, a geological summary derived from the core analysis of the Garcia #3 percussion core samples taken the week of August 22 through August 24, 2012 by Geologist Patrick Robinson.
"The Progas 'Garcia' #3 well in the Premont Northwest field was drilled to a depth of 3780' and logged on August 19, 2012. This well was a 1200' offset to the south of the Progas "Garcia" #2 well which is producing 10 bopd from the Lower Bardsdall Frio sand at from 3434'-44', after that zone has produced close to 30,000 bbls of oil. The primary objective for this well was to establish production from the Lower Bardsdall sand while evaluating other Miocene and Frio sands.
Weatherford ran a triple-combo log from total depth to 1500' (Nuclear and electric log), and took 48 percussion sidewall cores in the well, recovering 47. Core and log analysis indicates that the well encountered 3 well developed potentially productive oil sands and 6 gas-productive sands totaling 104' of gas sands and 29' of oil sands. The total potentially productive pay in this well total 133'. Completion targets are to be the oil sands. Gas sands will likely be left behind pipe until gas prices rebound, which they always do over time, as demand increases and supply diminishes due to lack of drilling from gas being as such low prices.
The well is pleasant surprise since the oil sands in this well seem to be much more developed and much higher on structure than anticipated. After analyzing the log and cores in this well, it was determined that the objective Lower Bardsdall, our primary target sand was present and 11' thick with the top found at -3216' (8' structurally high to this producing sand in the "Garcia" #2 well.) In addition to the oil-bearing Lower Bardsdall sand, two other probable oil sands were found in this well, the 16' thick Bardo sand and 5' of the Caddo sand (under 4' of gas) for a total of 29' of oil sand. The Bardo is much higher on structure (see comments below) and the Caddo appears to be running about 2 to 3 feet higher on structure than offset wells.
A summary of a few of the potentially productive oil and gas sands found in the Progas "Garcia" #3 well based on core and log analysis are as follows:
Lower Bardsdall Sand (11' Potential Oil Pay): The top of this 11' thick sand was encountered at 3420' drill depth (-3216' Subsea) in the "Garcia" #3 well, 8' structurally high to the zone in the Progas "Garcia" #2 well approximately 1200' to the north which is currently producing 10 bopd. The Lower Bardsdall sand has a good Rwa response on the electric log and 6 cores taken in it analyzed oil with permeability's from 29-107 millidarcies and porosities ranging from 24.1%-27.9%. Unlike the Laughlin and Bardo sands, the Lower Bardsdall has the characteristics of a blanket-sand deposition or at least a much larger sand lens then found in those sands. It is estimated that this sand will have an initial flow rate in the range of 25-35 bopd because of its distance from the "Garcia" #2 well.
Fair-Woodward Sand: The top of this sand was encountered at 3457' drill depth in the "Garcia" #3. A core taken at 3462' analyzed water suggesting that this is a separate sand body or lens from the same sand in the "Garcia" #2 well which analyzed gas. (See note above).
Bardo Sand (3' Potential Gas Pay; 13' Potential Oil Pay): The top of this sand was encountered at 3520' drill depth in the "Garcia" #3 well where it is present in the form of 2 lobes. The top lobe is 10' thick and has very good Rwa log response. A core in the top of this zone at 3522' analyzed gas. A core at 3523' was transitional between gas and oil and the remaining cores in this lobe analyzed oil. The permeability's in this lobe analyzed between 51 and 115 millidarcies and the porosities ranged between 25.8%-27.8%. The second lobe is 6' thick and shows good Rwa response on the triple-combo log. Cores in this zone analyzed oil with permeability's ranging from 140-265 millidarcies and porosities from 28.8%-30%.
As discussed above, the fact that the top of the Bardo sand in the "Garcia" #2 well is 28' structurally lower than in the "Garcia" #3 where it analyzed gas on cores with no oil indicates that these must be separate reservoirs or sand lens. The same is true for the "Guerra" #2 well which has an oil/water contact that is higher than could be possible in the "Garcia" #3 well. This means that we are dealing with a distinct separate sand body in the Bardo in the "Garcia" #3 well which appears to be oil productive. Because these sands are separate, it is impossible to estimate their sizes without further drilling.
The Bardo sand is oil and gas productive in the Premont Northwest field with the closest production being over 1 mile to the southeast in the Laughlin "Felipe Hinojosa" #3 well where it produced 9331 barrels of oil, and was abandoned in favor of gas production at that time and never was produced again. The Hinojosa #4 well, drilled by the previous operator was tested by Progas through a re-entry and tested 9 bophr through a ¼" choke and then flowed through a 1/16" choke for a number of months before a completion attempt failed due to casing failure. On the Seeligson Ranch approximately 2.5 miles to the southeast of the "Garcia" #2 well, the Bardo sand was a primary producing zone giving up 248,934 barrels of oil in the Mobil "Seeligson" #6 well alone. This trapping mechanism on this sand is probably a combination of structure and stratigraphic pinch out of intervals within individual sand bodies. It is suggested that this zone be tested first in this well as it could be a very prolific oil producer, possibly flowing oil for some time before it needs to be put on pump.
Caddo Sand (4' Potential Gas Pay and 5' Potential Oil Pay): The top of the Caddo sand was encountered at 3596' drill depth in the "Garcia" #3 well. The top 9' of this zone exhibits good Rwa response on the electric log and cores taken in this sand analyzed gas in the top 4' and oil for the next 5'. Permeability's in the cores in the top 9' of the Caddo sand ranged from 33-165 millidarcies while porosities ranged from 24.9%-28.4%. This zone will likely be oil productive.
The bottom lobe of the Caddo is 11' thick with excellent Rwa log response. A core was taken in this lobe at 3650' analyzed gas with 49 millidarcies of permeability and 25.3% porosity. 2 cores in the top of this zone the "Garcia" #2 well analyzed gas with lower cores in this zone analyzing water suggesting the possibility that commercial gas could be produced from this lobe of the sand in the structurally higher "Garcia" #3 well. This zone should be tested before the well is abandoned
The top of the Caddo sand is primarily oil productive in the Premont Northwest field. The closest productive well from the Caddo sand is the Kibbe "Engleking" #2A well over a mile to the south. This well produced 3709 barrels of oil from the Caddo sand. This zone could potentially produce between 5000-20,000 bo in the "Garcia" #3 well."
The previous excerpts have been provided from an analysis report provided to the company by Geologist, Patrick Robinson.
The completion process can take several weeks before reliable production numbers can be disseminated.
The company will provide progress updates as they become available regarding the Garcia #3 and other anticipated drilling activity in the near future.
Grid Petroleum Corp. is a development stage company focused on the acquisition and development of low cost high reward oil and gas prospects with infield drilling for proven potential reserves in the United States and Canada.
Contact: www.gridpetroleum.com Parkside Communications Inc. Phone: 1-877-798-4165 Info@ParksideCommunications.comwww.ParksideCommunications.com
Legal Notice Regarding Forward-Looking Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined, and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed.
Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas reserves, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of oil or gas are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information on risks for the Company can be found in the Company's periodic filings filed from time to time with US Securities and Exchange Commission at www.sec.gov.
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). They may not be offered or sold in the United States (as defined in Regulation S under the Securities Act), except pursuant to an exemption from the registration requirements of the Securities Act.
Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms such as estimates of a mean of undiscovered natural gas and estimates of a mean of undiscovered oil that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K and other periodic reports filed by us from time to time with the SEC, available from us at www.sec.gov. You can also obtain this form from the SEC by calling 1-800-SEC-0330.
SOURCE Grid Petroleum Corp.
PR Newswire
DENVER, Aug. 27, 2012 /PRNewswire/ -- Grid Petroleum Corp. (OTCBB: GRPR): The Board of Directors is pleased to announce that Grid Petroleum has received from the Premont Joint Venture Operator, Progas Services Inc, a geological summary derived from the core analysis of the Garcia #3 percussion core samples taken the week of August 22 through August 24, 2012 by Geologist Patrick Robinson.
"The Progas 'Garcia' #3 well in the Premont Northwest field was drilled to a depth of 3780' and logged on August 19, 2012. This well was a 1200' offset to the south of the Progas "Garcia" #2 well which is producing 10 bopd from the Lower Bardsdall Frio sand at from 3434'-44', after that zone has produced close to 30,000 bbls of oil. The primary objective for this well was to establish production from the Lower Bardsdall sand while evaluating other Miocene and Frio sands.
Weatherford ran a triple-combo log from total depth to 1500' (Nuclear and electric log), and took 48 percussion sidewall cores in the well, recovering 47. Core and log analysis indicates that the well encountered 3 well developed potentially productive oil sands and 6 gas-productive sands totaling 104' of gas sands and 29' of oil sands. The total potentially productive pay in this well total 133'. Completion targets are to be the oil sands. Gas sands will likely be left behind pipe until gas prices rebound, which they always do over time, as demand increases and supply diminishes due to lack of drilling from gas being as such low prices.
The well is pleasant surprise since the oil sands in this well seem to be much more developed and much higher on structure than anticipated. After analyzing the log and cores in this well, it was determined that the objective Lower Bardsdall, our primary target sand was present and 11' thick with the top found at -3216' (8' structurally high to this producing sand in the "Garcia" #2 well.) In addition to the oil-bearing Lower Bardsdall sand, two other probable oil sands were found in this well, the 16' thick Bardo sand and 5' of the Caddo sand (under 4' of gas) for a total of 29' of oil sand. The Bardo is much higher on structure (see comments below) and the Caddo appears to be running about 2 to 3 feet higher on structure than offset wells.
A summary of a few of the potentially productive oil and gas sands found in the Progas "Garcia" #3 well based on core and log analysis are as follows:
Lower Bardsdall Sand (11' Potential Oil Pay): The top of this 11' thick sand was encountered at 3420' drill depth (-3216' Subsea) in the "Garcia" #3 well, 8' structurally high to the zone in the Progas "Garcia" #2 well approximately 1200' to the north which is currently producing 10 bopd. The Lower Bardsdall sand has a good Rwa response on the electric log and 6 cores taken in it analyzed oil with permeability's from 29-107 millidarcies and porosities ranging from 24.1%-27.9%. Unlike the Laughlin and Bardo sands, the Lower Bardsdall has the characteristics of a blanket-sand deposition or at least a much larger sand lens then found in those sands. It is estimated that this sand will have an initial flow rate in the range of 25-35 bopd because of its distance from the "Garcia" #2 well.
Fair-Woodward Sand: The top of this sand was encountered at 3457' drill depth in the "Garcia" #3. A core taken at 3462' analyzed water suggesting that this is a separate sand body or lens from the same sand in the "Garcia" #2 well which analyzed gas. (See note above).
Bardo Sand (3' Potential Gas Pay; 13' Potential Oil Pay): The top of this sand was encountered at 3520' drill depth in the "Garcia" #3 well where it is present in the form of 2 lobes. The top lobe is 10' thick and has very good Rwa log response. A core in the top of this zone at 3522' analyzed gas. A core at 3523' was transitional between gas and oil and the remaining cores in this lobe analyzed oil. The permeability's in this lobe analyzed between 51 and 115 millidarcies and the porosities ranged between 25.8%-27.8%. The second lobe is 6' thick and shows good Rwa response on the triple-combo log. Cores in this zone analyzed oil with permeability's ranging from 140-265 millidarcies and porosities from 28.8%-30%.
As discussed above, the fact that the top of the Bardo sand in the "Garcia" #2 well is 28' structurally lower than in the "Garcia" #3 where it analyzed gas on cores with no oil indicates that these must be separate reservoirs or sand lens. The same is true for the "Guerra" #2 well which has an oil/water contact that is higher than could be possible in the "Garcia" #3 well. This means that we are dealing with a distinct separate sand body in the Bardo in the "Garcia" #3 well which appears to be oil productive. Because these sands are separate, it is impossible to estimate their sizes without further drilling.
The Bardo sand is oil and gas productive in the Premont Northwest field with the closest production being over 1 mile to the southeast in the Laughlin "Felipe Hinojosa" #3 well where it produced 9331 barrels of oil, and was abandoned in favor of gas production at that time and never was produced again. The Hinojosa #4 well, drilled by the previous operator was tested by Progas through a re-entry and tested 9 bophr through a ¼" choke and then flowed through a 1/16" choke for a number of months before a completion attempt failed due to casing failure. On the Seeligson Ranch approximately 2.5 miles to the southeast of the "Garcia" #2 well, the Bardo sand was a primary producing zone giving up 248,934 barrels of oil in the Mobil "Seeligson" #6 well alone. This trapping mechanism on this sand is probably a combination of structure and stratigraphic pinch out of intervals within individual sand bodies. It is suggested that this zone be tested first in this well as it could be a very prolific oil producer, possibly flowing oil for some time before it needs to be put on pump.
Caddo Sand (4' Potential Gas Pay and 5' Potential Oil Pay): The top of the Caddo sand was encountered at 3596' drill depth in the "Garcia" #3 well. The top 9' of this zone exhibits good Rwa response on the electric log and cores taken in this sand analyzed gas in the top 4' and oil for the next 5'. Permeability's in the cores in the top 9' of the Caddo sand ranged from 33-165 millidarcies while porosities ranged from 24.9%-28.4%. This zone will likely be oil productive.
The bottom lobe of the Caddo is 11' thick with excellent Rwa log response. A core was taken in this lobe at 3650' analyzed gas with 49 millidarcies of permeability and 25.3% porosity. 2 cores in the top of this zone the "Garcia" #2 well analyzed gas with lower cores in this zone analyzing water suggesting the possibility that commercial gas could be produced from this lobe of the sand in the structurally higher "Garcia" #3 well. This zone should be tested before the well is abandoned
The top of the Caddo sand is primarily oil productive in the Premont Northwest field. The closest productive well from the Caddo sand is the Kibbe "Engleking" #2A well over a mile to the south. This well produced 3709 barrels of oil from the Caddo sand. This zone could potentially produce between 5000-20,000 bo in the "Garcia" #3 well."
The previous excerpts have been provided from an analysis report provided to the company by Geologist, Patrick Robinson.
The completion process can take several weeks before reliable production numbers can be disseminated.
The company will provide progress updates as they become available regarding the Garcia #3 and other anticipated drilling activity in the near future.
Grid Petroleum Corp. is a development stage company focused on the acquisition and development of low cost high reward oil and gas prospects with infield drilling for proven potential reserves in the United States and Canada.
Contact: www.gridpetroleum.com Parkside Communications Inc. Phone: 1-877-798-4165 Info@ParksideCommunications.comwww.ParksideCommunications.com
Legal Notice Regarding Forward-Looking Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined, and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed.
Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas reserves, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of oil or gas are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information on risks for the Company can be found in the Company's periodic filings filed from time to time with US Securities and Exchange Commission at www.sec.gov.
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). They may not be offered or sold in the United States (as defined in Regulation S under the Securities Act), except pursuant to an exemption from the registration requirements of the Securities Act.
Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms such as estimates of a mean of undiscovered natural gas and estimates of a mean of undiscovered oil that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K and other periodic reports filed by us from time to time with the SEC, available from us at www.sec.gov. You can also obtain this form from the SEC by calling 1-800-SEC-0330.
SOURCE Grid Petroleum Corp.
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Re: GRID PETROLEUM
2 x RNS's below
Grid Petroleum Completes $2,500,000.00 Financing Agreement
By Grid Petroleum Corp.
Published: Monday, Sep. 24, 2012 - 6:12 am
DENVER, Sept. 24, 2012 -- /PRNewswire/ -- Grid Petroleum Corp. (OTCBB: GRPR): The Board of Directors is pleased to announce that Grid Petroleum has completed negotiations of an initial round of convertible preferred financing in the amount of $2,500,000.00 by a private Small Cap Venture Fund.
The Company is please to announce the terms of the financing are to provide the company with a commitment to fund up to $2,500,000.00 during the next 5 quarters of 2012. The financing will be available to the company in tranches of $500,000.00 based upon completion of certain milestones by the company concerning lease acquisition and field development.
The proceeds of the initial round of financing are to provide direct drilling and field development working capital and expenses.
The Company will receive the first tranche of funding under the terms of the agreement this next financial quarter.
The Company previously announced September 20, 2012.
Grid Petroleum Production Inc has entered into a Letter of Intent for the Leasing and Commercial Oil and Gas development of a significant prospect in the Northwest Premont area of Texas, not related to any Areas of Mutual Interest previously Identified by Progas Services Inc, the current Joint Venture Operator.
This prospect has identical Geology as the current Northwest Premont Field, with shut in production from both Oil and Gas, not currently being produced.
It is anticipated that the company will begin the process of developing this new prospect immediately. The prospect once developed has the potential to equal the estimated recoverable Oil reserves of the North West Premont Field the company is developing as a Joint Venture Partner.
"This Financing will allow the Company to continue to execute upon its business plan to explore and drill it's new and existing lease hold prospects," states company President James Powell, "The Company intents to begin the development of the new significant lease opportunity upon receiving the first tranche of funding."
The Company has calculated upon completion of development of the new prospect, the company will have estimated recoverable oil reserves in the range of 75,000 to 150,000 barrels of oil per well. The Company anticipates the ability to drill a minimum of 20 Oil wells.
The company is diligently pursuing the development and control of all of its future exploration and drilling business.
Grid Petroleum Corp. is a development stage company focused on the acquisition and development of low cost high reward oil and gas prospects with infield drilling for proven potential reserves in the United States and Canada.
Contact: www.gridpetroleum.com Parkside Communications Inc. Phone: 1-877-798-4165 Info@ParksideCommunications.com www.ParksideCommunications.com
Legal Notice Regarding Forward-Looking Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined, and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed.
Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas reserves, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of oil or gas are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information on risks for the Company can be found in the Company's periodic filings filed from time to time with US Securities and Exchange Commission at www.sec.gov.
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). They may not be offered or sold in the United States (as defined in Regulation S under the Securities Act), except pursuant to an exemption from the registration requirements of the Securities Act.
Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms such as estimates of a mean of undiscovered natural gas and estimates of a mean of undiscovered oil that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K and other periodic reports filed by us from time to time with the SEC, available from us at www.sec.gov. You can also obtain this form from the SEC by calling 1-800-SEC-0330.
SOURCE Grid Petroleum Corp.
Read more here: http://www.sacbee.com/2012/09/24/484913 ... rylink=cpy
Grid Petroleum Completes $2,500,000.00 Financing Agreement
By Grid Petroleum Corp.
Published: Monday, Sep. 24, 2012 - 6:12 am
DENVER, Sept. 24, 2012 -- /PRNewswire/ -- Grid Petroleum Corp. (OTCBB: GRPR): The Board of Directors is pleased to announce that Grid Petroleum has completed negotiations of an initial round of convertible preferred financing in the amount of $2,500,000.00 by a private Small Cap Venture Fund.
The Company is please to announce the terms of the financing are to provide the company with a commitment to fund up to $2,500,000.00 during the next 5 quarters of 2012. The financing will be available to the company in tranches of $500,000.00 based upon completion of certain milestones by the company concerning lease acquisition and field development.
The proceeds of the initial round of financing are to provide direct drilling and field development working capital and expenses.
The Company will receive the first tranche of funding under the terms of the agreement this next financial quarter.
The Company previously announced September 20, 2012.
Grid Petroleum Production Inc has entered into a Letter of Intent for the Leasing and Commercial Oil and Gas development of a significant prospect in the Northwest Premont area of Texas, not related to any Areas of Mutual Interest previously Identified by Progas Services Inc, the current Joint Venture Operator.
This prospect has identical Geology as the current Northwest Premont Field, with shut in production from both Oil and Gas, not currently being produced.
It is anticipated that the company will begin the process of developing this new prospect immediately. The prospect once developed has the potential to equal the estimated recoverable Oil reserves of the North West Premont Field the company is developing as a Joint Venture Partner.
"This Financing will allow the Company to continue to execute upon its business plan to explore and drill it's new and existing lease hold prospects," states company President James Powell, "The Company intents to begin the development of the new significant lease opportunity upon receiving the first tranche of funding."
The Company has calculated upon completion of development of the new prospect, the company will have estimated recoverable oil reserves in the range of 75,000 to 150,000 barrels of oil per well. The Company anticipates the ability to drill a minimum of 20 Oil wells.
The company is diligently pursuing the development and control of all of its future exploration and drilling business.
Grid Petroleum Corp. is a development stage company focused on the acquisition and development of low cost high reward oil and gas prospects with infield drilling for proven potential reserves in the United States and Canada.
Contact: www.gridpetroleum.com Parkside Communications Inc. Phone: 1-877-798-4165 Info@ParksideCommunications.com www.ParksideCommunications.com
Legal Notice Regarding Forward-Looking Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined, and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed.
Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas reserves, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of oil or gas are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information on risks for the Company can be found in the Company's periodic filings filed from time to time with US Securities and Exchange Commission at www.sec.gov.
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). They may not be offered or sold in the United States (as defined in Regulation S under the Securities Act), except pursuant to an exemption from the registration requirements of the Securities Act.
Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms such as estimates of a mean of undiscovered natural gas and estimates of a mean of undiscovered oil that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K and other periodic reports filed by us from time to time with the SEC, available from us at www.sec.gov. You can also obtain this form from the SEC by calling 1-800-SEC-0330.
SOURCE Grid Petroleum Corp.
Read more here: http://www.sacbee.com/2012/09/24/484913 ... rylink=cpy
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Re: GRID PETROLEUM
Garcia #3 Well Completion Initial Update
By Grid Petroleum Corp.
Published: Monday, Oct. 1, 2012 - 10:20 am
DENVER, Oct. 1, 2012 -- /PRNewswire/ -- Grid Petroleum Corp. (OTCBB: GRPR): The Board of Directors is pleased to announce that Grid Petroleum has received a preliminary report of the initial flow testing of the Bardo Sand, the deepest potential pay zone of the Garcia #3 well.
Bardo Sand (3' Potential Gas Pay; 13' Potential Oil Pay): The top of this sand was encountered at 3520' drill depth in the "Garcia" #3 well where it is present in the form of 2 lobes. The top lobe is 10' thick and has very good Rwa log response. A core in the top of this zone at 3522' analyzed gas. A core at 3523' was transitional between gas and oil and the remaining cores in this lobe analyzed oil. The permeability's in this lobe analyzed between 51 and 115 millidarcies and the porosities ranged between 25.8%-27.8%. The second lobe is 6' thick and shows good Rwa response on the triple-combo log. Cores in this zone analyzed oil with permeability's ranging from 140-265 millidarcies and porosities from 28.8%-30%.
Work over unit was moved onto the Garcia #3, tubing was run to bottom ensuring total depth of well bore. The Rig then ran a Baker packer in the hole on 2 3/8 inch tubing, packer was set just above the top of the Bardo Sand zone.
Wireline services were then brought onto location to run a cement bond log, utilizing the Gama Ray tool to detect cement bonding on both the casing and outside formation, which proved to be in excellent condition.
Wireline services then ran into the hole through the 2 3/8 inch tubing a perforating gun to shoot the top 4 feet of the Bardo Sand, perforating the casing.
After Wireline services completed perforating the initial test zone, the work over rig began to swab the tubing to take the hydrostatic head off of the Bardo Sand formation to allow hydrocarbons to the surface. After the fifth swab run the well began to flow gas to the surface on its own. The gas flowing pressure grew to 200 PSI with a shut in pressure of 750 PSI.
The well will be allowed to flow to ensure that the gas has cleaned up any down hole drilling fluids before any performance flow testing can be completed.
The Company expects that flow results will be finalized in the near future. The completion process is near completion and the Company is awaiting confirmation of flow numbers from the Joint Venture Operator, Progas Services Inc.
The following link provided below to the oil and gas blog on twitter for a short video of the initial gas and oil shows.
OilGasBlog@oilgasblog
Twitter.com/oilgasblog
GRPR Oil & Gas shows from Garcia #3 Play Media.
The completion process can take several weeks before reliable production numbers can be disseminated.
The company will provide progress updates as they become available regarding the Garcia #3 and other anticipated drilling activity in the near future.
Grid Petroleum Corp. is a development stage company focused on the acquisition and development of low cost high reward oil and gas prospects with infield drilling for proven potential reserves in the United States and Canada.
Contact: www.gridpetroleum.com Parkside Communications Inc. Phone: 1-877-798-4165 Info@ParksideCommunications.com www.ParksideCommunications.com
Legal Notice Regarding Forward-Looking Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined, and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed.
Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas reserves, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of oil or gas are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information on risks for the Company can be found in the Company's periodic filings filed from time to time with US Securities and Exchange Commission at www.sec.gov.
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). They may not be offered or sold in the United States (as defined in Regulation S under the Securities Act), except pursuant to an exemption from the registration requirements of the Securities Act.
Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms such as estimates of a mean of undiscovered natural gas and estimates of a mean of undiscovered oil that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K and other periodic reports filed by us from time to time with the SEC, available from us at www.sec.gov. You can also obtain this form from the SEC by calling 1-800-SEC-0330.
SOURCE Grid Petroleum Corp.
Read more here: http://www.sacbee.com/2012/10/01/487093 ... rylink=cpy
By Grid Petroleum Corp.
Published: Monday, Oct. 1, 2012 - 10:20 am
DENVER, Oct. 1, 2012 -- /PRNewswire/ -- Grid Petroleum Corp. (OTCBB: GRPR): The Board of Directors is pleased to announce that Grid Petroleum has received a preliminary report of the initial flow testing of the Bardo Sand, the deepest potential pay zone of the Garcia #3 well.
Bardo Sand (3' Potential Gas Pay; 13' Potential Oil Pay): The top of this sand was encountered at 3520' drill depth in the "Garcia" #3 well where it is present in the form of 2 lobes. The top lobe is 10' thick and has very good Rwa log response. A core in the top of this zone at 3522' analyzed gas. A core at 3523' was transitional between gas and oil and the remaining cores in this lobe analyzed oil. The permeability's in this lobe analyzed between 51 and 115 millidarcies and the porosities ranged between 25.8%-27.8%. The second lobe is 6' thick and shows good Rwa response on the triple-combo log. Cores in this zone analyzed oil with permeability's ranging from 140-265 millidarcies and porosities from 28.8%-30%.
Work over unit was moved onto the Garcia #3, tubing was run to bottom ensuring total depth of well bore. The Rig then ran a Baker packer in the hole on 2 3/8 inch tubing, packer was set just above the top of the Bardo Sand zone.
Wireline services were then brought onto location to run a cement bond log, utilizing the Gama Ray tool to detect cement bonding on both the casing and outside formation, which proved to be in excellent condition.
Wireline services then ran into the hole through the 2 3/8 inch tubing a perforating gun to shoot the top 4 feet of the Bardo Sand, perforating the casing.
After Wireline services completed perforating the initial test zone, the work over rig began to swab the tubing to take the hydrostatic head off of the Bardo Sand formation to allow hydrocarbons to the surface. After the fifth swab run the well began to flow gas to the surface on its own. The gas flowing pressure grew to 200 PSI with a shut in pressure of 750 PSI.
The well will be allowed to flow to ensure that the gas has cleaned up any down hole drilling fluids before any performance flow testing can be completed.
The Company expects that flow results will be finalized in the near future. The completion process is near completion and the Company is awaiting confirmation of flow numbers from the Joint Venture Operator, Progas Services Inc.
The following link provided below to the oil and gas blog on twitter for a short video of the initial gas and oil shows.
OilGasBlog@oilgasblog
Twitter.com/oilgasblog
GRPR Oil & Gas shows from Garcia #3 Play Media.
The completion process can take several weeks before reliable production numbers can be disseminated.
The company will provide progress updates as they become available regarding the Garcia #3 and other anticipated drilling activity in the near future.
Grid Petroleum Corp. is a development stage company focused on the acquisition and development of low cost high reward oil and gas prospects with infield drilling for proven potential reserves in the United States and Canada.
Contact: www.gridpetroleum.com Parkside Communications Inc. Phone: 1-877-798-4165 Info@ParksideCommunications.com www.ParksideCommunications.com
Legal Notice Regarding Forward-Looking Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined, and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed.
Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas reserves, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of oil or gas are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information on risks for the Company can be found in the Company's periodic filings filed from time to time with US Securities and Exchange Commission at www.sec.gov.
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). They may not be offered or sold in the United States (as defined in Regulation S under the Securities Act), except pursuant to an exemption from the registration requirements of the Securities Act.
Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms such as estimates of a mean of undiscovered natural gas and estimates of a mean of undiscovered oil that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K and other periodic reports filed by us from time to time with the SEC, available from us at www.sec.gov. You can also obtain this form from the SEC by calling 1-800-SEC-0330.
SOURCE Grid Petroleum Corp.
Read more here: http://www.sacbee.com/2012/10/01/487093 ... rylink=cpy
Re: GRID PETROLEUM
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