Oil Penny Stocks In the News
Jul 24, 2008 9:05:00 AM
NEMAHA COUNTY, Kan.--(BUSINESS WIRE)--
Heartland Oil and Gas Corp. (OTC BB: HTOG) (FWB: HOCA) was recently informed by its drilling partner that the first well drilled on Heartland's farmout acreage in Northern Kansas yielded a well producing 65 barrels per day of crude oil. As a result of this success, Heartland has undertaken planning to expand this farmout program and to begin drilling additional wells on the 500,000 acres it has under lease in this area.
"This is obviously a very exciting prospect," remarked Heartland spokesman Jack Baker. "The discovery of a 65 barrel per day well in the heart of our vast acreage in Northern Kansas establishes great value in that acreage that we intend to aggressively exploit and since many of our leases up there have terms of 5 or 6 years or more, we will have drilling opportunities for many years into the future. Coupled with the successes of our coalbed methane fields in the southern portion of the state, our accomplishments in Kansas seem boundless."