MASS Petroleum (MASP) A Dead Cat Bounce Play
SmallCapReview.com a leading site for small cap information is adding MASS Petroleum (OTCBB: MASP) to its list of stocks “On the Radar” on Potential of a Dead Cat Bounce after losing 57% in one day, OUCH!. We’re looking to see if they can put together an equally impressive rally.
Some facts about the Company:
MASS Petroleum (MASP) 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 by focused exploration and acquisition strategy to create shareholder value.
MASS Petroleum is currently in the process of acquiring several producing oil and gas assets in Western Canada. The target acquisitions offer a stable production base with low risk drilling opportunities. This provides steady cash flow for continued exploration and development in various prospect areas within the Western Canadian Sedimentary Basin. Canada’s proven oil reserves are well developed and holds more than 175 billion barrels of oil. The area is politically stable and has been a major oil producer of many decades.
MASS Petroleum’s primary objective is to make strategic acquisitions balanced with a focused exploration and development plan. The Company will focus on high Working Interest (WI) projects will upside drilling prospects.
MASP Investor Highlights
MASP signed an LOI to acquire Guardian Exploration’s Girouxville Project located in Northern Alberta. The project consists of a high working interest light oil operation which is producing approximately 215-225 bbl/d from three light oil wells, high rate multi zone oil 37 to 42 API oil. The final purchase price is CAD $3,350,000 and will consist of a combination of cash and common stock.
To date at Girouxville a success rate of approximately 90% drilling light sweet oil discoveries has been achieved and the potential remains to develop lands for new light oil pool discoveries.
The Girouxville project offers extensive upside drilling potential with multiple farm in opportunities to increase production significantly over time.
To add to the appeal of the Girouxville area, the Alberta government is offering a $1 million royalty free holiday for newly drilled oil wells in addition to providing a drilling royalty credit for new qualifying wells of $200 per metre which can cover almost half the drilling costs.
Announced that has completed its due diligence efforts on the Girouxville project.
MASP owns a 2.34% net working interest in three producing wells in Kingfisher County, Oklahoma. With a cumulative production total of over 45,000 barrels of oil.
It appears that the three wells acquired in Kingfisher County, Oklahoma, will continue to deliver an average of 125 mcfgpd +1 bbl of oil for the foreseeable future with no drastic decline anticipated.
To learn more about MASP visit http://www.smallcapreview.com/masp.htm
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