PEII Company Description
Petron Energy II, Inc. is a Dallas-based, oil and gas exploration and production company.
Petron Energy II, Inc. continues a tradition of developing oil and gas properties in low risk areas with years of proven production history.
The Oklahoma Oil and Gas Fields have produced over 100 years and are still active today. Oklahoma has played a very significant role in meeting our nation’s energy needs with its rich history of production and its enormous oil and gas reserves. The first recorded oil well in Oklahoma was completed in 1859, the same year that Colonel Edwin Drake ushered in the age of oil at Titusville, Pennsylvania. Although Oklahoma’s first oil find was accidental – the driller was seeking saltwater – other oilmen quickly invaded the Indian Territory in search of “black gold.” Just before Indian Territory and Oklahoma Territory were united in single statehood in 1907, a fantastic oil-boom era began in the region. Its immense oil riches ignited a mineral rush that would ebb and flow across the twin territories and the state for more than thirty years and would rival all previous quests for hidden wealth in the American West.
PEII Products and Services
Petron Energy II, Inc. is engaged primarily in the acquisition, development, production, exploration for and the sale of oil, gas and gas liquids in the United States. As of December 31, 2012 the Company is operating in the states of Texas and Oklahoma. The Company sells its oil and gas products primarily to a domestic pipeline and to another oil company.
SUBSIDIARIES
Petron Energy II Pipeline, Inc. is engaged primarily in the transmission of gas and gas liquids for its own wells and third party wells in the United States. As of December 31, 2012 the Company is operating in the state of Oklahoma. In addition, the Company owns two gas gathering systems located in Tulsa, Wagoner, Rogers and Mayes counties of Oklahoma, one of which is fully operational. The pipeline consists of approximately 132 miles of steel and poly pipe, a gas processing plant and other ancillary equipment.
Petron Energy II Well Service, Inc. is engaged primarily in Well Service operation for its own wells currently and expects to begin well service operations for third party operators in the future. As of December 31, 2012 the Company is operating in the states of Oklahoma and Texas. The Company owns all of its equipment used in the Petron Energy II Well Service, Inc.
TEXAS PROPERTIES
The company recently agreed to acquire approximately 2800 acres in Munday (Knox County) Texas, this property is comprised of 48 wells. The property has 34 of 48 existing wells capable of producing commercial quantities of oil. We are reviewing the property for further producing zones which may be available.
OKLAHOMA PROPERTIES
Petron purchased a 75% stake in approximately 1100 acres with 59 wells in Wagoner and Tulsa Counties, Oklahoma. We have 56 existing wells and 3 newly drilled wells. This acreage has 5 to 7 payzones, which are capable of producing oil, gas and or both commodities.
The company has purchased 75% equity stake in a 105 mile pipeline gas system, Petron Energy II Pipeline, Inc. The pipeline system extends from Wagoner County into Tulsa County Oklahoma. This system is critical to our development in the area because it provides us access to deliver our gas to market at minimal cost. We believe our ownership of the gas pipeline system will provide us opportunities to grow our acreage as we are the only transporter of natural gas in the area.
The company has also purchased a 75% stake in a second gas pipeline system, Petron Energy II TNT, Inc. This pipeline system extends 30 miles through Wagoner, Mayes, Rogers and Tulsa Counties Oklahoma. There were over 450+ wells drilled and tested in anticipation of the completion of this gas system. This system provides access to a natural gas market for us along with development opportunities for the company. Petron Energy II TNT pipeline is the only gathering system to transport natural gas the area.
The mission of Petron Energy II, Inc. (PE II)
…is to create an asset base consisting of oil and gas properties in low risk areas with years of proven production history. The company will increase the value of its assets through acquisitions, drilling operations and reworking existing wells. We will concentrate our development efforts in Oklahoma and Texas where we presently have 5,000 acres under lease. These contain 93 existing wells which will require rework operations to attempt reestablishing commercial production.
Petron Energy II, Inc. (PE II) strategy
…is to acquire assets in proven areas with multiple pay zones, manage development cost and take advantage of new technology to maximize daily production rates.
Our target market is the Woodford Shale in Northeast Oklahoma and the Tannehill Sand in Texas, each offer high success rates and the potential for long term cash flow.
Watch this video to see Petron’s vision: http://petronenergyii.com/mission-statement/
PEII Key Company Management
Floyd L. Smith – CEO
Mr. Smith holds a Bachelor of Business Administration from Harding University, and has over 19 years of experience working in the oil and gas industry. In October 1998, Mr. Smith started Petron Energy, Inc. and has been involved in all administrative and field operations for the company. Under his leadership, the company has funded and drilled over 50 wells in twelve years. Petron Energy II, Inc. is the successor to Petron Energy, Inc. He has knowledge in all phases of drilling, completion and production. He has worked closely with the project geologists and engineers in the origination and acquisition of oil and gas prospects. Mr. Smith is also a member of the president’s council of Harding University in Searcy, Arkansas.
Jerry K. Ebanks – Geologist
Mr. Ebanks received his Bachelor of Science in Geology from Lamar University and his Masters in Geology from the University of Texas. He has worked in varies senior level position in his 46 year career. Mr. Ebanks has extensive experience in East Texas, North Louisiana, Mississippi, Alabama, South Arkansas, Florida, Offshore Gulf of Mexico, Alaska, China, Australia, New Zealand and Indonesia. In addition, he performed geological evaluations, wellsite planning, mapping seismic planning, seismic oversight and seismic interpretation. Mr. Ebanks brings a very unique set of skill sets which will be very to our company.
David Knepper – Petroleum Engineer
Mr. Knepper has a Bachelor of Science in Engineering from Texas A&M University. He has over 37 years of experience working with oil and gas companies, specializing in production, completions, operations, reservoir analysis and acquisitions. Additionally, Mr. Knepper has expertise in both the technical and financial sides of the oil and gas business.
Luke C. Zouvas – Legal Council
Mr. Zouvas has a Bachelor of Arts degree from San Diego ’96 and his Juris Doctor is from Thomas Jefferson School of Law ’99. His primary focus in law has been the areas of corporate securities, mergers and acquisitions, as well as real estate. He has worked on numerous mergers and acquisitions, advised public companies on securities law issues, advised private companies on general corporate governance matters and engaged in the pro bono representation of small business owners.
Mr. Zouvas has represented issuers and underwriters in initial public offerings, Direct Public Offerings and secondary offerings of securities under the Securities Act of 1933. He also regularly counsels issuers in connection with the preparation of and filing with the Securities and Exchange Commission of periodic reports under the Securities Exchange Act of 1934.
He has a mastery of securities law compliance, having prepared proxy statements, periodic reporting documents, private placement documentation and registration statements, among others. He also has counseled numerous entrepreneurs and early stage companies. Mr. Zouvas has advised issuers, private equity funds, and placement agents in private equity and debt transactions. He also has worked with placement agents and issuers with respect to offerings of securities pursuant to Regulation S and Rule 144A under the Securities Act.
Bob Currier – V.P. of Finance
Bob Currier has a CPA certificate and has over 35 years of experience both in the public accounting and corporate sectors. Since 1987, Mr. Currier has been involved with entrepreneurial ventures in industries ranging from medical to real estate to oil and gas. With these companies, he has been responsible for developing financial reporting systems, helping raise capital, implementing internal controls and budget preparation. His experience has included both public and private entrepreneurial companies. He has also worked on SEC reporting engagements on a contract basis.
Mr. Currier started his professional career in 1971 with the audit staff at Ernst & Ernst in Kansas City. After six years, he transferred to the Paris, France office where he spent six years working on the audit of the French national oil company (Elf Aquitaine) and U. S. companies such as Eli Lilly and Harris Corporation. On the French national oil company audit he was responsible for the exploration and production subsidiaries, the consolidation and joint venture audits. From Paris he moved to the Dallas office and transitioned from oil and gas auditing to entrepreneurial services and was named the Vice Chairman of the entrepreneurial services group. Mr. Currier’s experience with the entrepreneurial services group included working with business plans and financial projections for various start-up companies. We believe Mr. Currier’s level of experience provides Petron II with a clear advantage and he is a true asset to the company.
PEII Contact Info
Petron Energy II, Inc. (PE II)
7950 Preston Road
Suite 960
Dallas, TX 75252
Blog: http://petronenergyii.com/blog/category/shareholder-letter/
Website: http://www.petronenergyii.com
Phone: 972-272-8190
Email: info@petronenergyii.com
PEII SEC Filings
http://www.otcmarkets.com/stock/PEII/filings
PEII Headlines
http://finance.yahoo.com/q/h?s=PEII+Headlines
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$PEII Awesome News -Signs Acquisition Agreement to Purchase Garrett Lease in Creek County, OK
ReplyDeleteDALLAS, Texas, June 12, 2014 (GLOBE NEWSWIRE) -- via PRWEB - Petron Energy II, Inc. ("Petron II" or the "Company") (PEII) Petron Energy II signs Acquisition Agreement to purchase Garrett Lease in Creek County, Ok.
Petron Energy II, Inc., together with its subsidiaries, engages in the acquisition and development of properties for the production of crude oil and natural gas, the transportation of natural gas through its pipeline subsidiary and well servicing through its servicing subsidiary. The Company's operations are based in the United States.
Floyd Smith, President and CEO of Petron Energy II, Inc., states "On June 2, 2014 we signed an acquisition agreement and tendered the initial down payment with Mr. Bill Sperling to purchase the Garrett Lease which has existing wells. One of the key wells we intend to attempt a recompletion is the Garrett #3; the Garrett #3 well has a well developed Mississippi pay zone which we will test for commercial production. Our geologist and a third party petroleum engineer have reviewed the Garrett #3 logs and found them to have all of the key components for oil based on their log analysis and to be very comparable to some of the better producing Mississippi wells which offset our lease." Smith goes on to say, "The Mississippi pay zone has proven to be a very prolific oil producing zone in the area, vertical completions on area wells have realized initial production rates of 30 -- 100 barrels of oil per day.
The company is scheduled to test the Garrett #3 well after the completion of the Snyder/Simon lease project which will be completed during the month of June 2014. The company will report results for both projects as soon as they are available."
http://finance.yahoo.com/news/petron-energy-ii-inc-signs-130236901.html?soc_src=mediacontentstory