Southern Plains Oil Corp Announces Commencement of Workover Activities in Both Texas and Oklahoma
ROGERS COUNTY, Okla., July 14 /PRNewswire-FirstCall/ — Southern Plains Oil Corp (OTC Pink Sheets: SPLN) announces scheduled treatment of its Charlene #1 well on its Big Sky unit in Rogers County, Oklahoma. The company has also scheduled beginning in August an enhanced recovery program consisting of both waterflood and NCO2 injection throughout the entire unit with plans to more rapidly produce the unit’s more than 1.3 million barrels of proven recoverable oil.
The company produced 430 barrels of oil from June 1 to July 10 on its Big Sky and Arco Selby leases in Oklahoma, and the company’s net interest in such oil is 20%. The company expects to substantially increase production on the 2 leases as it commences NCO2 and waterflood on the 2 leases over the next 45 days.
Workover activities have also been scheduled for the company’s Great Plains project located in Wichita County, Texas. The project consists of 45 wells and workover of the first 12 wells is scheduled for late July and early August.
Southern Plains Oil Corp is an independent oil company focused on the workover and enhancement of known oil production in Texas and Oklahoma.
Except for historical information contained herein, the statements in this News Release about Southern Plains Oil Corp. are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements and the business prospects of Southern Plains are subject to a number or risks and uncertainties that may cause Southern Plains actual results in future periods to differ materially from the forward-looking statements. These risks and uncertainties include, among other things, volatility of commodity prices, product supply and demand, competition, the ability to obtain environmental and other permits and the timing thereof, other government regulation or action, third party approvals, the costs and results of drilling and operations, access to and availability of drilling equipment and transportation, processing and refining facilities, Southern Plains’s ability to implement is business plans or complete its development projects as scheduled, access to and cost of capital, uncertainties about estimates of reserves and resource potential and the ability to book proved reserves in the future, the assumptions underlying production forecasts, quality of technical data and environmental and weather risks. These and other risks are described in Southern Plains’s 10-K and 10-Q Reports and other filings with the Securities and Exchange Commission. In addition, Sun River may be subject to currently unforeseen risks that may have a materially adverse impact on it. Southern Plains undertakes no duty to publicly update these statements except as required by law.
Southern Plains Oil Corp
CONTACT: Rick Wilkins, Vice President, Southern Plains Oil Corp,+1-770-794-1215
Web site: http://www.southernplainsoil.com/