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[gfsd] [re:] Watcher TopNews
[gfsd] [re:] Watcher TopNews
Wed, 29 Mar 2006 12:10:21 -0120
There is a Big PR Campaign running ALL Week!
Get PIFR First Thing, This Is Going To Explode!
Check out HOT NEWS!!!
KOKO PETROLEUM (KKPT) - THIS STOCK IS UNDISCOVERED ST0CK GEM
Current Price: 1.30
This is been a great producer in our last PR Campaign
KOKO Petroleum, Inc. (PKKPT - News) announced today that it has revised its
Letter of Intent with JMT Resources, Ltd. Fort Worth Texas regarding the
Development of JMT's polymer flood pilot program on its leasehold located in
The previous agreement focused only on the pilot program for the polymer flood
in a specific area of JMT's acreage. The revised agreement gives KOKO the
right, via a master joint venture, to participate in all of JMT's acreage in
the Corsicana Field which totals 7,838 acres. As mentioned in previous
releases, this leasehold is the oldest oil field in Texas and was discovered in
the 1890's by a company that eventually became Mobil Oil.
Recent geological analyses indicated there are several zones under the Nacatoch
zone (where the polymer flood is being developed) which are oil bearing and
have an excellent possibility for commercial production. These zones include
the Pecan Gap, Austin Chalk and Wolf City. The joint venture plans on shooting
3D seismic over portions of the Field to better understand the potential of
these zones and corresponding reserves. Subsequently, an aggressive horizontal
and vertical drilling plan will be implemented to capitalize on the seismic
The joint venture will also continue to develop its polymer pilot project which
to date has drilled and completed two wells of the 13 well project. Rig
availability has hampered the original drilling schedule; however, six
consecutive wells are schedule to start drilling on February 28, 2006.
Geological engineering studies have shown that an effective ASP flood could
yield as much as 30% to 40% of the original oil in place with lifting costs
below $7 per barrel. Original Oil in Place was estimated to be in excess of 100
mi||i0n barrels by engineers previously associated with the field.
Koko Petroleum, Inc. has committed to fund up to $4 mi||i0n USD for the right
to participate in all of JMT's acreage in the Corsicana Field.
Ted Kozub, CEO of KOKO Petroleum, Inc., stated the following: "KOKO has an
0pp0rtunity to become involved with veteran oil people in the development of
this field that combines technology with vast resources. We have created a
structure that mitigates our downside risk while exposing us to tremendous
upside potential. This is an important step in KOKO Petroleum's financial
development and we feel it will translate to significant shareholder value."
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