Shares of American Liberty Petroleum Corp. (OTC: OREO), a Bakersfield, California-based company focused on reducing America’s need for imported oil by discovering new onshore U.S. energy resources and tapping overlooked or undervalued domestic onshore resources, are marginally lower in trading currently.
At last check, OREO shares were trading 0.77% lower at $0.385 on volume of 594,169.
American Liberty Petroleum today provided a summary of its recent progress on the Cortez operation in Nye County, Nevada. The 3,840 acre Cortez lease, which is located in the Gabbs Valley, includes two wells; Cobble Cuesta 1-12 and Paradise 2-12.
OREO said that it resumed work on Paradise 2-12 well in early May 2012. The work undertaken by OREO included a fluid level test that showed a 1920’ fluid column in the well bore above the pump. After applying hot water and a new proprietary chemical formula treatment, the well managed to produce additional fluid comprising of an oil/water mix.
OREO shipped about 29 barrels of oil to Foreland’s Eagle Springs Refinery.
Alvaro Vollmers, President of American Liberty Petroleum, said that OREO is encouraged to have completed a second sale of crude to the Foreland refinery.
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