KOKO PETROLEUM
Undervalued
Special Situation |
| Symbol: |
KKPT |
| 52 Week Range |
0.40 - 2.50 |
| Shares Float: |
25,000,000 |
| Current Price: |
$1.52 |
| 12 Mo.Target Price |
$8.70 |
| Last 5 days gain |
$ .97 | |
Breaking News
Alerts!
Big News
Expected
Dec 28th
Value should
climb quickly! Be ready for the ride of your life, as
you can see so far
KOKO Petroleum Issues Update on Drilling Projects
in the Barnett Shale and Corsicana
KOKO Petroleum, Inc. to Participate in
Barnett Shale Drilling Program
Petroleum and natural gas production in the Barnett
Shale play has been increasing steadily year after year. This is by
far one of the most active and prolific gas fields in America right
now and as such is garnering a lot of attention all the way from the
oil patch to Wall Street. The group that we have joined in this
Barnett Shale drilling program is affiliated with one of the major
stakeholders in the area with scores of wells already in production.
We are very confident in their proven ability to locate the best
drilling sites in the area and to efficiently tap the vast gas
resources held in Barnett Shale. This project is one of several next
steps in KOKO Petroleum's ongoing program to build a diverse
portfolio of promising oil and gas properties and prospects. We plan
to continue pursuing other promising prospects that should help us
build a diverse portfolio with long-term value for our
shareholders," says Mr. Ted Kozub, Chief Executive Officer of KOKO
Petroleum, Inc
The Barnett Shale is the largest natural gas play in
Texas. It is presently producing 900 MMCF of gas per day and is
considered one of the largest U.S. domestic natural gas plays with
sizable, remaining resource potential. The first Barnett Shale wells
were drilled and completed in the early 1980s by Mitchell Energy of
Houston, Texas. According to an in-depth 2004 sector report on the
Barnett Shale, developed by Morgan Stanley , the Barnett Shale play
is estimated to hold reserves in the non-core area that could be as
high as 150 BCF per 1,000 acres. The report estimated that because
of the amount of gas available in the area, successful wells in the
Barnett Shale should be economically viable in almost any gas price
environment. There are 75 rigs currently operating in the area.
KKPT is
getting ready to break out. We recommend this as a VERY strong
buy.
|