Correction SXLP Update
Hello All,
I made an error in the title of my last email. I am sorry about that.
It should have read SXLP Update.
I noticed my alert SXLP came out with news after the close. (Sorry
I didn't see it earlier)
This news coupled with the spike in volume and the breakout above
resistance today could send SXLP higher.
Get ready to book some profits with this oil and gas play.
Good Investing,
Mark
Here is the news.
Signature Exploration and Production Corp. Provides Update on the
Frio Sands Target in South Texas
Total Gas Reserves Estimated at $225 Million
Press Release Source: Signature Exploration and Production Corp. On
Monday March 8, 2010, 4:00 pm EST HOUSTON, TX--(Marketwire -
03/08/10) - Signature Exploration and Production Corporation
(OTC.BB:SXLP - News), an independent energy company engaged in the
exploration, development, exploitation and acquisition of oil and
natural gas properties in the U.S., announced today that its joint
venture partner in South Texas has leased a 1,043 net acre (m/l)
Frio Sand (gas) target in South Texas. The target was identified
through the acquisition of a 303 sq. mile 3D seismic database.
Signature currently owns a 10% working interest with an option of
10% on additional wells on the prospect. The prospect has two
potential targets for drilling, which previously have produced over
500,000 bbls.
The exploration team believes the multiple Frio sands identified in
the seismic profile could contain significant gas and condensate
reserves and proposes to drill one to two wells to test the Frio
zones. "The Frio formation, a sandstone interval, is one of the
most prolific producers in South Texas. Our interests in this
prospect lie directly on the trend with many other major
gas/condensate producing fields," said Steven Weldon, Chairman and
CEO of Signature Exploration and Production Corp.
According to Texas Railroad Commission records, many of the wells
have an accumulating production exceeding 200BCF (200 million MCF)
and 300MBO. The Frio zones generally have higher permeability and
porosity that lead to higher flow rates. "The oil and gas reserves
on the lease are valued at approximately $225,000,000 based on a
price of $4.50 per mcf. Based on the attractive sands formation and
plentiful reserves, we are looking at a potentially lucrative,
cash-generating property," concluded Weldon.
3D seismic surveys can better define prospective oil/gas structures
and pinpoint drilling locations, thus increasing chances for
successful wells. 3D seismic has become an invaluable tool for
developing drilling prospects and has become the prospecting tool
of choice in today's oil and gas exploration industry. The
technique is utilized by major oil and gas companies throughout the
world.
About Signature Exploration and Production Corp.
Signature Exploration and Production Corp. is an independent energy
company engaged in the exploration, development, exploitation and
acquisition of on-shore oil and natural gas properties in
conventional producing areas along the gulf coast of Texas.
Management's strategy is to continue making acquisitions of select
properties that have been identified as economically attractive,
technically and geologically sound and have significant upside
potential.
This news release contains forward-looking statements within the
meaning of Section 27A of the United States Securities Act of 1933,
as amended, and Section 21E of the United States Securities and
Exchange Act of 1934, as amended. Statements in this news release,
which are not purely historical, are forward-looking statements and
include any statements regarding beliefs, plans, expectations or
intentions regarding the future. These statements involve risks and
uncertainties, which could cause actual results to differ
materially from those in the forward-looking statements contained
herein. Such risks and uncertainties may include, but are not
limited to, the impact of oil and gas prices, the ability to manage
growth and acquisitions, equipment or human resources, the effect
of economic and business conditions, the ability to attract and
retain skilled personnel and factors outside the control of the
Company. These forward-looking statements are made as of the date
of this news release, and the Company assumes no obligation to
update the forward-looking statements or to update the reasons why
actual results could differ from those projected in the
forward-looking statements. Although the Company believes that the
beliefs, plans, expectations and intentions contained in this news
release are reasonable, there can be no assurance those beliefs,
plans, expectations or intentions will prove to be accurate.
Investors should consider all of the information set forth herein
and should also refer to the risk factors disclosed in the
Company's periodic reports filed from time-to-time with the United
States Securities and Exchange Commission. This news release shall
not constitute an offer to sell or the solicitation of an offer to
buy nor shall there be any sale of these securities in any
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
If you do not trade with a broker that allows stops GET ONE.
ChoiceTrades does allow stops and they only charge $5 commissions
on OTC stocks. Open an account by following this link.
http://wfwsconsulting.com/choicetrades
Important Disclaimer:
WFWS Consulting Inc (who along with its affiliates, subsidiaries,
officers, directors, representatives and agents is collectively
referred to as "WFWS") maintains this website and newsletter as a
service to its customers, who have paid for the publication of the
information regarding their respective company or business. By
using this website, you agree to the following terms of use, which
WFWS may unilaterally change at any time. WFWS is not a Registered
Investment Advisor or a Broker/Dealer.
No Investment Advice or Recommendation Made by WFWS:
The advertisements and materials relating to WFWS's respective
customers are not intended directly or indirectly provide advice as
to the advisability of investing in, purchasing, holding or selling
such securities. Instead WFWS's customers have prepared and paid
for the advertising; and the publications are not endorsements,
recommendations, analysis or advisors of any nature by WFWS. WFWS
does not endorse any opinions or recommendations regarding the
materials advertised, nor does it give tax or investment advice or
advocate the purchase or sale of any security or investment. All
information provided on the WFWS website pertaining to investing,
stocks, securities must be understood as information provided and
not investment advice.
No Representation as to Content of Advertisement:
In preparing this publication, WFWS has relied upon information
supplied by its customers, which it believes to be reliable;
however, such reliability cannot be guaranteed. Investors should
not rely on the information contained in this website. Rather,
investors should use the information contained in this website as a
starting point for doing additional independent research on the
featured companies. The advertisements in this website are believed
to be reliable, however, WFWS and its owners, affiliates,
subsidiaries, officers, directors, representatives and agents
disclaim any liability as to the completeness or accuracy of the
information contained in any advertisement and for any omissions of
materials facts from such advertisement. WFWS is not responsible
for any claims made by the companies advertised herein. BY
ACCESSING THIS WEBSITE, YOU AGREE THAT THE INFORMATION PROVIDED IS
"AS IS" AND WITHOUT WARRANTY, EXPRESS OR IMPLIED, INCLUDING WITHOUT
LIMITATION CURRENTNESS OR RELIABILITY OF THE CONTENT OF THE
ADVERTISEMENTS MAINTAINED ON THIS WEBSITE; AND WARRANTIES OF
MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. WFWS shall
not be liable for any damage or costs arising out of or in any way
connected with your use of the materials or advertisements provided
or accessed through this website.
No Offer of Securities:
None of the materials or advertisements herein constitute offers or
solicitations to purchase or sell securities of the companies
profiled herein and any decision to invest in any such company or
other financial decisions should not be made based upon the
information provide herein. Instead WFWS strongly urges you conduct
a complete and independent investigation of the respective
companies and consideration of all pertinent risks. WFWS does not
offer such advice or analysis, and WFWS further urges you to
consult your own independent tax, business, financial and
investment advisors. Investing in micro-cap and growth securities
is highly speculative and carries and extremely high degree of
risk. It is possible that an investor's investment may be lost or
impaired due to the speculative nature of the companies profiled.
Compensation:
WFWS may have been compensated by one or more third parties or
purchased shares in the open market in the companies listed herein.
WFWS has received a fee of twenty five thousand dollars cash from a
third party (WallStreet Grand LLC) for this SXLP advertisement.
WFWS and its owners, affiliates, subsidiaries, officers, directors,
representatives and agents may at time hold positions in securities
mentioned on WFWS's website, and may make purchases or sales in
such securities featured on WFWS's website. This compensation
should be viewed as a potential conflict of interest. Furthermore,
WFWS, or its owners, affiliates, subsidiaries, officers, directors,
representatives and agents may have financial positions in featured
companies. WFWS and its owners, affiliates, subsidiaries, officers,
directors, representatives and agents may or may not increase or
decrease its ownership in featured companies at any time before,
during, or after distribution of information. WFWS and its owners,
affiliates, subsidiaries, officers, directors, representatives and
agents may profit in the event the shares of the company featured
by WFWS increase in value. These positions may be liquidated from
time to time even after WFWS has made positive comments regarding
the company.
Buying and Selling of Shares:
WFWS intends to any sell shares in the event the shares rise in
value. WFWS may sell its shares for less than target prices given
in opinions. WFWS's affiliates, officers, directors and employees
may have also bought or may buy the shares discussed in this report
and may profit in the event those shares rise in value. WFWS will
not advise as to when it decides to sell and does not and will not
offer any opinion as to when others should sell; each investor must
make that decision based on his or her judgment of the market.
Public Filings:
WFWS urges its readers who are considering an investment in a
specific company to check the company's filings with the Securities
and Exchange Commission ("SEC") on the SEC's Edgar Website located
at http://www.sec.gov.
No Liability Relating to External Links:
This website contains links to other World Wide Web Internet sites,
and WFWS is not responsible for the availability of these outside
resources, or their contents. WFWS does not endorse, nor is it
responsible for any of the contents, advertising products or other
materials.
Safe Harbor for Forward-Looking Statements:
Information presented on the WFWS website contains "forward looking
statements" within the meaning of Section 27A of the Securities
Exchange Act of 1933 and Section 21B of the Securities Exchange Act
of 1934. Any statements that express or involve discussions with
respect to predictions, expectations, beliefs, plans, projections,
objectives, goals, assumptions or future events or performance are
not statements of historical fact may be "forward looking
statements". Forward looking statements are based on expectations,
estimates, and projections at the time the statements are made that
involve a number of risks and uncertainties which could cause
actual results or events to differ materially from those presently
anticipated. Forward looking statements in this action may be
identified through use of words such as "projects", "foresee",
"expects", "will", "anticipates", "estimates", "believes",
"understands", or that by statements indicating certain actions
"may", "could", or "might" occur. Understand there is no guarantee
past performance will be indicative of future results.
1900 Empire Blvd. #212 Webster, New York 14580
To unsubscribe or change subscriber options visit: