www.QualityStocks.Net would like to highlight Sentry Petroleum Ltd. (OTCBB: SPLM). The company is a junior oil and gas exploration company focused in Asia. Its mission is to secure large land positions with drill ready prospects in the regions of the world with the most promise for large scale discovery.
In the company’s news Friday,
Sentry Petroleum Ltd. announced the Department of Mines and Energy has approved the company’s acquisition of Authorities to Prospect #862, #864, and #866. The U.S. oil and gas exploration company was also awarded the rights to all conventional oil and gas deposits associated with the wells.
According to the press release, the acquisition gives the company 6.8 million acres of acreage, leveraging it as the largest land holder in the commercially proven Adavale Basin in Australia. The acreage has an aggregate of 11 trillion cubic feet of gas production and more than 90 million barrels of oil production.
“Over the past several months, Sentry management has concentrated its efforts on closing this acquisition,” Sentry president and CEO Dr. Raj Rajeswaran stated. “Sentry Petroleum has now become one of the largest net on shore land holders in Australia. The acquisition has significantly enhanced shareholder value and positions the Company for rapid growth.”
According to Alan Hart, head of exploration for Sentry, the company has identified several potential prospects in and around the wells.
“Many hydrocarbon shows have been recorded in Quilberry, Yongala, Leopardwood and Bodalla wells. We have identified potential new petroleum reef reservoirs within the Cooladdi Dolomite where both the Gilmore and Log Creek discoveries were made,” Hart stated.
About QualityStocks
QualityStocks, based in Scottsdale, Arizona is a free service that collects data from hundreds Small-Cap and Micro-Cap online Investment Newsletters into one Free Daily Newsletter Report. QualityStocks is dedicated to assisting emerging public companies with their advertising efforts and now has over 500,000+ subscribers that receive The Daily Stock Newsletters.
To sign up for “The QualityStocks Daily Newsletter” please visit http://www.qualitystocks.net/
Please see disclaimer on QualityStocks website: http://Disclaimer.QualityStocks.net
Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
