Kallisto Energy Corp. - MINNEHIK-BUCK LAKE
Five-O Oil and Gas Ltd. engages NRG Divestitures Inc. to market their producing oil & Gas properties in Wainwright Alberta.
After investing in significant property improvements in 2011 production has increased to an average of 10 bbls/d from the two producing wells generating an average net cash flow of approximately $15,000 per month for the first four months of the year.
A third well is awaiting re-completion which Five-O expects will increase production and net revenue further.
Five-O is a private oil and gas company with its head office in Lloydminster, Alberta. Their property consists of one section of land in the Wainwright area with 2 wells producing approximately 10 bbls/d of light oil. Their property is surrounded with off setting production from Husky, Petrobakken and Talisman. Their interests also include 44% interest in a gas well operated by Talisman. The potential exists to increase production through servicing and work overs as well as 14 new drilling locations.
Five-O is looking for cash offers.