DALLAS, TX--(Marketwired - December 06, 2017) - Perkins Oil and Gas, Inc. (OTC PINK: PEKN) ("Perkins" or the "Company") today announced that it participated in a government lease auction and successfully purchased 160 gross acres in Lincoln, Colorado.
The tract is in township 10S, carries a 1/5th royalty rate and is located on the Niobrara formation.
According to a report by COGA, some analysts estimate the recoverable oil reserves at approximately 2 billion barrels. Liquid natural gas is also found and extracted in this formation.
"We are very excited to have acquired this lease which I believe holds a lot of potential. We expect to begin formulating a drilling plan in January of 2018," said the CEO of Perkins.
About Perkins Oil and Gas, Inc.
Perkins Oil and Gas, Inc. is an oil and gas exploration and development company focused on US-soil projects. The Company intends to build a portfolio of oil and gas leases in up and coming areas which allow for low cost-per-acre acquisitions.
Safe Harbor Statement
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial condition or results of operations; (iii) the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Also, forward-looking statements represent our management's beliefs and assumptions only as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk disclosed in the Company's filings with the Securities and Exchange Commission.
Perkins Oil and Gas, Inc.
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