LAS VEGAS, NV -- (Marketwire) -- 07/23/10 -- (OTCBB: MASP) (FRANKFURT: 0MP) Mass Petroleum is an oil and gas production company backed by an experienced and dedicated management team. Mass Petroleum is engaged in the acquisition of producing oil and gas projects to build its reserves and ensure sustainable growth through focused project development and acquisitions.
MASS Petroleum has been continuing its efforts to determine key areas of interest through evaluating oil and gas assets with development and drilling upside potential. Mass Petroleum has determined the Kansas areas provide low-risk, multi-well oil and gas investments via direct participation programs through a direct ownership position in the wells or joint venture opportunities. Key facts about Kansas oil production include;
- The first oil well in Kansas was drilled in 1860.
- Currently Kansas produces oil and gas in 89 of the 105 counties.
- Over 4000 permits to drill have been issued in Kansas to date.
- The average well depth is about 3,500 feet.
- Over 59,000 wells are actively producing oil and natural gas in Kansas.
- 70% of the wells produce oil and the other 30% produce natural gas.
- There are over 2100 oil and gas producers operating in Kansas.
Mass Petroleum is currently reviewing several acquisition targets in Kansas that offer the potential to increase cash flow through production and offer additional blue sky potential through equipment refurbishment, drilling new wells on prolific land packages and joint venture opportunities.
About Mass Petroleum
MASS Petroleum is an oil and gas production company backed by an experienced and dedicated management team. MASS Petroleum is engaged in the acquisition of producing oil and natural gas wells, interests and leases from existing companies, governments, and through the open market.
The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to commencement of drilling operations, concentration in mineral deposits, delays in testing and evaluation of ore samples, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.