Sun Cal Energy Inc. (OTCBB:SCEY), an energy exploration company focused in the Southern San Joaquin Valley of California, the Anadarko Basin of Oklahoma, the Breton Sound of Louisiana and the Green River Basin of Wyoming is pleased to update its shareholders that Range Production Company filed applications and obtained spacing and pooling orders for a third well on Sun Cal Energy Inc.’s Hobart Prospect in Oklahoma.
Filed before the Corporate Commission of the State of Oklahoma, Range Production Company applied to establish 640- acre drilling and spacing unit and pooling orders in Section 14, Township 8 North, Range 18 West in Washita County, Oklahoma. Such applications are a normal precursor to filings of Intents to Drill and the subsequent commencement of operations. With a target depth of 19,800 feet, the estimated completion costs for the deep development well are estimated at $12,245,000.
Commenting on these developments, Lewis Dillman, President and CEO of Sun Cal Energy, Inc., states: “We are excited that the Hobart Prospect continues to gain the attention of major operators such as Marathon Oil and Range. This area is becoming very active, and with the successful drilling and commercial results of our 1st two wells in Oklahoma, the Sturgeon 1-11 and Cunningham 1-02, and the 1st well in the 83/84 prospect in West Texas, we believe that our acquisition strategy is being validated.”
Sun Cal Energy Inc owns a 1.5% gross overriding royalty interest in the 1211 acre Hobart prospect strategically located in the Anadarko Basin and part of the Springer Morrow play – the largest such play in the State and Mid-Continent. Key players running rigs in the immediate area include Marathon Oil, Chesapeake Energy, and Range Resources.
“We intend to continue to build on these successes, and also provide our shareholders the opportunity to share projects in North America,” stated Lewis Dillman: “We will continue to look at opportunities to develop our other high impact California and Wyoming properties in the near future, and possibly enter into partnerships with key players already established in these areas.”
Further Information
Shareholders and prospective investors are encouraged to visit Sun Cal Energy’s website: www.suncaloil.com and download Sun Cal Energy’s Investor Summary. Please feel free to call investor relations toll-free at 1-800-798-8334 to receive a full corporate investor's package.
About Sun Cal Energy Inc.
Sun Cal Energy Inc. is a publicly traded independent oil and gas exploration company with headquarters in Calgary, Alberta, and an operational office in San Francisco, California. Sun Cal Energy aims to secure and develop a portfolio of oil and gas properties throughout America. The company is strategically placed in the Southern San Joaquin Valley of California, the Anadarko Basin of Oklahoma, the Breton Sound of Louisiana, and the Green River Basin of Wyoming. Sun Cal Energy Inc. trades under the ticker symbol: SCEY - "Sun Cal Energy Inc. – Providing Energy Solutions to America".
On behalf of the Board
Lewis Dillman, President and CEO
Forward-Looking Statements
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. 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, including, but not limited to, the Company's belief that Sun Cal Energy Inc. can identify and successfully negotiate leases for oil and gas properties in California, Oklahoma, Louisiana and Wyoming that the Company can participate in the exploration of those properties. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission.
Sun Cal Energy Inc.
Lewis Dillman, CEO, 800-798-8334
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