Perkins Oil & Gas, Inc. (OTC Pink: PEKN) operates as an oil & gas exploration and development company. Shares of the energy company are rallying 15.82%, through early trading on Thursday, September 14, 2017. Over the past month, Perkins Oil & Gas, Inc. has seen average daily volume of 23,090 shares. However, volume of 35,185 shares or dollar volume of $151,999, has already exchanged hands on the day.
Shares of Perkins Oil & Gas, Inc. are gaining today, after the company announced that it has acquired a 640-acre lease located in Niobrara, Wyoming. The lease was purchased directly from the State of Wyoming and carries a 16.67% royalty on oil & gas extraction. Here is the full press release detailing of the land lease acquisition:
Perkins Oil & Gas, Inc. Press Release:
DALLAS, TX — (Marketwired) — 09/14/17 — Perkins Oil & Gas, Inc (OTC PINK: PEKN) (“Perkins” or the “Company”) today announced that it has completed the purchase of a 640-acre oil and gas lease located in Niobrara, WY. The parcel’s exact location is T33N, R66W in Section 36.
The lease was purchased directly from the State of Wyoming and carries a 16.67% royalty rate on both oil and gas.
According to information from the COG Association, the Niobrara formation holds approximately 2 billion barrels of recoverable oil.
“Two of the most notable wells: The Jake and The Gemini, produced more than 1,000 barrels per day when they were completed. We are excited at the potential our new lease could hold,” said the Chief Executive Officer of Perkins Oil and Gas.
About Perkins Oil & Gas, Inc
Perkins Oil & Gas, Inc. is an oil and gas exploration and development company focused on US-soil projects. The Company intends to build a portfolio of oil and gas leases in up and coming areas which allow for low cost-per-acre acquisitions.
Safe Harbor Statement
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company’s financing plans; (ii) trends affecting the company’s financial condition or results of operations; (iii) the company’s growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words “may,” “would,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “intend,” and similar expressions and variations thereof are intended to identify forward-looking statements. Also, forward-looking statements represent our management’s beliefs and assumptions only as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk disclosed in the Company’s filings with the Securities and Exchange Commission.