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Winston-Salem, NC, United States, 2011/03/07 - SmallCapReview, A leading site for news and information on small caps, penny stocks and microcaps is adding Liberty Energy Corp. (LBYE) to its list of stocks "On the Radar".
Liberty Energy Corp. (LBYE) Liberty Energy Corp is an Independent Oil and Gas Exploration and Production Company dedicated to the sourcing and production of fuel supplies in the United States and Europe.
Headquartered in Houston, Texas, the company has leases and royalties in both Texas and Bulgaria, covering several wells with extensive potential for future development. In Texas, four leases -- Dahlstrom, Ratliff, and two at Lockhart Northeast -- are identified as rich oil and gas sites based around numerous geological pay zones.
In North-West Bulgaria, Liberty has royalty rights to a 1,000, 000+ acre natural gas property (the A-Lovech exploration block), an area of high quality, low- sulphur natural gas condensate. Through this combined international reach and domestic focus, Liberty Energy is committed to the development of U.S. fuel reserves while seeking out further opportunities for the global energy markets.
LBYE Investor Highlights
The Company has recently announced the successful work-over of 3 wells on its Lockhart lease. The three wells are now producing consistently and recovered approximately 250 bbls of oil during the first 36 hours of production. Sales of oil from the Lockhart are now ongoing, providing a key source of revenue to the company.
Announced that it has signed a memorandum of understanding to acquire an estimated 400 acres in Caldwell and Travis Counties. The Company intends to conduct further geological and geophysical surveys to complete the plan of development for this project.
Announced that after evaluating a number of different options with various consultants, it has scheduled a cement squeeze to be performed on the Dahlstrom #1 well.
"With the continued support of the financing agreement, we hope to proceed with developing new and existing assets whilst maintaining zero debt on our balance sheet," commented Daniel Martinez-Atkinson, CFO of Liberty Energy Corp.
Announced it is a member of the Texas Oil and Gas Association. (TxOGA) TxOGA member companies produce a quarter of the nation's oil, a third of its natural gas, and account for one quarter of the U.S. refining capacity.
Announced that it has successfully rigged up on the Alexander A well also known as the Alexander A # 2 well situated on the Lockhart Lease, Texas. The company intends to drill the well to a target depth to produce from the Edwards shale zone. The company expects to have the work completed and online within weeks.
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