This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Rio Bravo Oil, Inc. Announces Initiation Of Field Development





HOUSTON, Aug. 27, 2012 /PRNewswire/ -- Rio Bravo Oil, Inc. (OTCBB: RIOB) (" Rio Bravo" or the "Company"), a domestic oil company based in Houston, TX, announced today that it has begun drilling operations on its leasehold in Luling, Texas.  The Company recently completed a lease trade with Eagle Energy Trust (EGL-Un.TO) which allows for the extension of a horizontal well across the front of its D.G. Tiller leasehold, located on the Salt Flat Field.  The Company then filed for and has received a permit to drill the D.G. Tiller 4H well into the Edwards formation.  Drilling on the well is scheduled to commence in October 2012.  In addition to the horizontal well, the Company has also begun recompletion of four of its existing Austin Chalk wells.

The Company's plan is to drill several new wells on its acreage in close proximity to existing Edwards production, and then to evaluate the results.  The work on the D.G. Tiller 4H well is consistent with the Company's business plan.  The Company believes this approach may provide valuable information that may enable Rio Bravo to access significant proved oil reserves associated with its leasehold.  Additionally, Company management believes the results from this initial drilling program may provide the basis for guiding the Company's future development plans.  Rio Bravo hopes to report initial results from this drilling program in the early part of the 4 th quarter.

Management Comments

Rio Bravo's CEO, Tom Bowman, commented, "Development of the Edwards formation has continued with strong results in the Luling Area.  Rio Bravo is now positioned to potentially realize value by demonstrating results on the DG Tiller 4H.  We continue to define new locations, and will initiate new well permits to expand the drilling program upon completion of the DG Tiller 4H."

About Rio Bravo Oil, Inc.

Headquartered in Houston, Texas, Rio Bravo Oil, Inc. is a growth-oriented, publicly traded exploration and production company with a strategic focus on development of proven undeveloped reservoirs on its properties in the United States and the expansion of its fields through unconventional exploration methods and resource development. Rio Bravo Oil's leasehold position in the Salt Flat and Luling Branyon field has positioned the Company to expand through focused drilling in a productive environment. Additional information is available on the Company's website at http://www.riobravooil.com/

Forward Looking Statements

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release that address activities, events, or developments the Company expects, believes, or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made by the Company based on management's experience and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Such statements are subject to a number of assumptions, risks, and uncertainties, many of which are beyond the Company's control, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Further information on such assumptions, risks and uncertainties is available in the Company's filings with the U.S. Securities and Exchange Commission ("SEC"). The Company's SEC filings are available on its website at www.RioBravoOil.com and on the SEC's website at www.sec.gov. Any forward-looking statement speaks only as of the date on which such statement is made and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

SOURCE Rio Bravo Oil, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,080.30 -33.24 -0.19%
S&P 500 1,985.69 +2.16 0.11%
NASDAQ 4,468.3160 +12.30 0.28%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs