Bayport International Holdings, Inc. Acquires New Interest In Two More Wells To Be Drilled In Pennsylvania
At the time of this report oil is $90/barrel on the world market and natural gas is approx. $3.50/MCF. When feasible a natural gas contact can be obtained through industrial buyers that enhance the price paid.
It is imperative that all prudent oil field operations as to drilling, completing, and operating of these wells be observed. All potential producing formations should be evaluated, not only for the presence of oil and gas but also to avoid any excess bring production. It is my opinion that with the nature of off-set drilling success rates, known production zones, relatively low cost to drill and operate, and the high price being currently paid for the end product of oil and gas, wells drilled on the Milford Lease have an excellent change of being financially successful.
Drilling Operator: Coastal Petroleum Corporation "CPC" an independent producer of crude oil and natural gas, licensed by the State of Pennsylvania as an oil and gas operator and Turnkey Driller. CPC is actively involved in drilling activities within the state of Pennsylvania, USA. CPC has over 50 years of experience in the oil and Gas business
About Bayport International Holdings, Inc.Bayport International Holdings, Inc. is a company formed to exploit the various precious minerals in the U.S. to acquaint the public with practical investment opportunities in strategic metals and minerals. Bayport International Holdings, Inc. is primarily focused on precious metals, rare earth, and oil and gas ventures. Bayport International Holdings, Inc. is developing mining and oil and gas properties with economic potential with the aim of bringing such properties to commercial production. The company's portfolio of properties is primarily located in the prolific western USA in Utah and Texas. www.BayportInternational.com Cautionary Note Regarding Forward-Looking Statements
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