Del Mar 4/14/2010 11:50:07 PM
Penny Stocks you need to watch
Big Bear Mining Corp. (OTC:BGBR), Blugrass Energy Inc. (OTC:BLUG)
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Big Bear Mining Corp. (OTC:BGBR)
Ariz., April 14 -- Big Bear Mining Corp. (OTC Bulletin Board: BGBR) is pleased to announce the acquisition of a new group of claims in the Birch/Uchi portion of the Red Lake Mining Division. The group of claims are located in Honeywell and McNaughton Township and comprise 9 claims for a total of 4,104 acres. This group is host to the Sol d'or Mine which saw limited production between 1932 to 1937 at which time 560.07 tons of ore were processed for a total of 258 oz gold and 33 oz silver (Ontario Geological Survey Open File Report 5835). A small resource of 8,565 tons grading .57 oz of gold per ton has been reported. (Energy, Mines and Resources Canada 1989) Multiple quartz veins and a silicified shear zone make this property an excellent exploration target using modern methods which will be implemented during initial phases of exploration by the company.
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Blugrass Energy Inc. (OTC:BLUG)
CALGARY, AB, Apr 13, 2010 -- Blugrass Energy Inc. (BLUG) is pleased to announce that the Company has acquired data for its initial two Canyon Sands locations, Block CS-S-A consisting of CSL 1-3 and Block CS-S-B consisting of CSL 4-6. The Canyon Sands formation on the Childress-Soto prospect has numerous targets shown by 3D seismic data. 3D seismic buildups provides detailed subsurface mapping including probable reservoir locations.
Petro Grande has designated over 75 locations on lands located on the Soto Lease (Canyon Wells) that it believes would be economic to drill. In addition Petro Grande has identified 75 targets for Strawn and Ellenburger formations. Petro Grande estimates that there could be approximately 500 BCF of natural gas in its acreage position, this potentially represents an opportunity of recovering over $2 billion of natural gas based on today's approximate value of $4 per thousand cubic feet of natural gas. However to date an independent third party reserve report has not been completed. The three main natural gas formations are Canyon Sands which are approximately 6,300' in depth; Strawn formation, approximately 12,000' in depth; and the Ellenburger is approximately 14,000' in depth.
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