%20is%20looking%20to%20leave%20a%20major%20footprint%20in%20the%20sands%20in%20Western%20Canada.That%20just%20might%20be%20the%20Alberta%20Oil%20Sands,%20the%20second%20largest%20source%20of%20oil%20in%20the%20world%20after%20Saudi%20Arabia.%20Mass%20Petroleum(Mass),%20which%20engages%20in%20the%20acquisition%20of%20producing%20oil%20and%20gas%20projects,%20is%20in%20the%20process%20of%20acquiring%20several%20producing%20oil%20and%20gas%20assets%20in%20Western%20Canada....){kind=link}
Mass Petroleum & Anadarko: Kansas Is Not Just For Toto Or Alice
Mass Petroleum (MASP.OB) is looking to leave a major footprint in the sands in Western Canada.
That just might be the Alberta Oil Sands, the second largest source of oil in the world after Saudi Arabia. Mass Petroleum(Mass), which engages in the acquisition of producing oil and gas projects, is in the process of acquiring several producing oil and gas assets in Western Canada. With the target acquisition offering a stable production base with low risk drilling opportunities, a steady cash flow for continued exploration and development in various prospect areas within the Western Canadian Sedimentary Basin is assured.
Mass Petroleum's primary objective is to make strategic acquisitions balanced with focused exploration and development plans It also seeks to build core areas with significant undeveloped land, high working interest and/or operatorship, balance a light oil and gas portfolio with large scalable reserves, and focus on high Working Interest (WI) projects with an upside drilling prospect.
This is a great opportunity for MASS Petroleum and you might want to put this company right in front of your spyglass. This may well be a great investment opportunity, who knows what their stock may do with these leases coming on line.
Mass Petroleum Corp. is currently in the process of acquiring several leases in the Walnut, Southeast field in Crawford County Kansas. The target leases consist of six separate leases within the Walnut Southeast field area. The leases are: Engle, Mein, Bammann, Westhoff, Steffens and Bradshaw. Each lease is developed with a number of producing wells and in some cases water injection as well. Production is primarily taken from the Bartlesville and Cattleman formations of Pennsylvanian age. Average well depth is approximately 380 feet. There are approximately 130 total wells on the property; leases are 100% working interest (WI), with net revenue interest (NRI) at approximately 80%. Total acreage on all leases is 1,300 acres.
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Anadarko Petroleum Corporation
Recent New: BP: Cracks in Well Head Still Possible As Cap Test Goes On
APC is among the largest independent oil and natural gas exploration and production companies in the world, with approximately 2.3 billion barrels of oil equivalent (BBOE) of proved reserves at year-end 2009. APCs portfolio of assets encompasses premier positions in nearly a dozen major U.S. onshore natural gas resource plays.
APC also is the largest independent deepwater producer in the Gulf of Mexico, and has production and/or exploration in Alaska, Algeria, Brazil, China, Indonesia, East and West Africa.
Kahn Swick & Foti, LLC (KSF) has filed a class action lawsuit against APC in the United States District Court for the Southern District of New York, on behalf of purchasers of the common stock of the Company between June 12, 2009 and June 9, 2010, inclusive (the Class Period). No class has yet been certified in this action.
In particular, the Complaint charges APC, 25% owner of the Macondo/Deepwater Horizon well currently leaking millions of gallons of oil into the Gulf of Mexico, with failing to disclose, among other things: that there was no effective Exploration and Oil Spill Response Plan for Macondo/Deepwater Horizon; that BP implemented drilling procedures solely to cut costs at the expense of safety; that the Company lacked adequate systems of internal, operational or financial controls to maintain adequate insurance reserves or to meet the known or foreseeable risks associated with its deepwater drilling liabilities; and that defendants lacked any reasonable basis to claim that APC was operating according to plan, or that APC could achieve guidance sponsored and/or endorsed by defendants.
More about APC at www.anadarko.com
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