Eco-Trade Corp. (BOPT) Reviews Report That Estimates Reserve of between 80 and 120 Million Barrels of Oil at its South Bakken Prospect
Data released by the EIA found that November and December oil production in the USA was at its highest levels since December 1992
GREAT FALLS, Mont.–(BUSINESS WIRE)– Eco-Trade Corp. (OTCQB BOPT), an independent oil and gas exploration Company, has received a third party report that estimates that the unproven recoverable reserve is between 80 and 120 million barrels of oil at its South Bakken Prospect according to a report issued by BAKKENQUEST, LLC from Clancy, MT.
In the report, the South Bakken Prospect has a potential reserve of between 80 and 120 million barrels of oil based on 9 sections within the property 10 to 15 MMBO per section recoverable. Major oil companies are aggressively purchasing mineral leases and drilling in the Bakken Fairway including Rosetta Resources, which has drilled over 6 exploratory wells and confirms”significant oil hydrocarbons in place, 13-15 MMBOE per section, and over-pressured reservoirs”.
The U.S. Energy Information Administration (EIA) recently released its monthly report on petroleum supply and found that U.S. crude oil production exceeded an average of 7 million barrels a day between November and December of 2012. This represents the highest levels of production since December 1992.
Canon Bryan, Director at Eco-Trade, noted, “By the time we have acquired a property or have signed a prospect development agreement, we have an excellent idea where our assets are positioned. It is at this stage that we spend our energies and expertise mapping out the best strategies to build solid returns on investment.”
About Eco-Trade
Eco-Trade is fully-reporting, independent oil and gas exploration company, that has drilling and production rights on a property in Lewis & Clark County in Montana, near Great Falls totaling over 5,800 acres called the South Bakken Prospect. Please visit www.ecotradecorporation.com
Safe Harbor
The information in this release includes forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this release. You should carefully review the information disclosed within the section entitled “Risk …read more
Source: FULL ARTICLE at DailyFinance
