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1:22 pm
June 25, 2010
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PENNYGURU
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I just got an alert on PPWE, Company looks good. I am currently not holding this one but I figured i would share it with you all. Company is going to start drilling in Utah as soon as they decide which of the three potental companies they are going to venture with. The three companis are around the area and have experice in drilling in the area and already have there equipment near the site. This will be useful when drilling starts. Theres some chatter of news coming out on this soon so this might be the time to load up before it runs.. Good luck to you all Heres the latest news for u to start off with..
TAMPA, Fla., June 21 /PRNewswire-FirstCall/ – Proper Power & Energy, Inc. (OTC Bulletin Board:PPWE.ob – News) announced today that over the past few months, the Company has been interviewing and evaluating potential joint venture partners for the commencement of drilling on its Utah property. In the recent meeting, the Board of Directors has decided to narrow their choices to three companies. All three companies possess the characteristics that Proper Power feels it will need for future success in Utah. All three companies have more than 10 years experience in both Oil and Gas drilling. Most important to the Company is that all three companies maintain equipment and properties in surrounding areas.
Mr. Joe Abdo, President of Proper Power & Energy, commented, “Aligning ourselves with a Company that has vast experience and resources in the general area of where we will commence drilling is invaluable to our success in Utah.”
Mr. Tanel Rashid was also consulted in the evaluation process. Mr. Rashid was appointed Production Advisor by the Company last month on an outside, after hours, basis.
Mr. Rashid added, “Given my extensive experience in the industry, I am in complete agreement with Mr. Abdo that having potential partners in the same geographic area is very useful to successful implementation of our business plan
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1:03 pm
June 28, 2010
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PENNYGURU
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PPWE News just hit the wire. Looks like there going to have more reserves than anticipated. This well has the potental of 12,000 barrels a day This is the time to take a position in the company. This is also an awesome time to be in the oil sector with the consistant rise in oil prices. Good luck to you all remember to do your dd!! Heres the news
TAMPA, Fla., June 28 /PRNewswire-FirstCall/ — Proper Power & Energy, Inc. (OTC Bulletin Board:PPWE.ob – News) announced today the Company released the first data analysis report of its Central Utah prospect as compiled by Thrust Resources geophysicist Robert Dunbar. The Company retained Thrust Resources' compiled Radiometrics Plus survey when it purchased its lease in the Rush Valley in late 2007. This past summer, the Company purchased independent, reprocessed seismic data on the same fields to compare those readings with the Radiometrics Plus. Radiometrics measures radioactive hydrocarbons as they migrate upward through the Earth's underground. Seismic data is based on traditional geological measurement of sound waves through the Earth's crust.
Based on his initial review of the seismic, Mr. Dunbar believes that the previous reserve projections may have been severely understated. ”In comparing the Rush Valley Prospect to Covenent Field, a thicker Mississippian shale source bed should be present, since the Mississippian shale thickens westward from approximately 1000 feet at Covenent to 7000 feet in Central Nevada. Vertical migration of hydrocarbon from the Mississippian is believed to be the reason for the Navaho accumulation at Covenent. Also the Navaho section at Rush Valley should be thicker and is expected to be approximately 1500 feet. Therefore, the 10 to 15 million barrels of oil reserve per well on 80 acre spacing at Covenent may be quite conservative when applied to Rush Valley,” stated Robert Dunbar. ”Depths may be roughly calculated by applying a factor or 7 times the seismic time in milliseconds. Example – one second or a time of 1000 milliseconds times 7 equals 7000 feet.”
The ”Covenant Field” prospect that Mr. Dunbar points to in his comparison refers to the Central Utah prospect developed by Wolverine Oil commencing in 2006. That prospect is producing an estimated 12,000 barrels of crude daily in Sevier County, Utah. The Company plans to release follow-ups to Mr. Dunbar's analysis of the seismic data, and has already released independent seismic reports and recent testimonials from independent sources concerning Thrust Resources' success rate in accurately predicting reserves, or just as importantly, the lack of reserves on prospects throughout the contiguous geographic area.
“We are happy to report that after weighing in with this new seismic data, our Utah holdings may have been understated and our reserves could be substantially greater than anticipated,” stated Proper Power & Energy President, Joseph E. Abdo, commenting on the seismic report
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11:15 pm
June 30, 2010
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PENNYGURU
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Good evening all, I see PPWE came with another news release after the bell today. Looks like this company is on the right track to be a great long term stock. Imo with oil being up 18% these past few months this is the sector we want to be in.This could be a crucial buying time for PPWE. It has been a slow week with many equities coming off their lows, but now could be a great entrance opportunity for a stock in the oil and gas sector. I think this one is going to be a wildcat in the morning. Huge volume brings in huge gains!! I dont think anyone wants to miss out on this one. Remember to take you profits people all pigs will be slaughtered. Heres the latest news..
Proper Power & Energy Discusses Shareholder Dividend
TAMPA, Fla., June 30, 2010 /PRNewswire via COMTEX/ — Proper Power & Energy, Inc. (OTC Bulletin Board: PPWE) announced today that in a move to maintain shareholder confidence, the board has called a meeting for Thursday, July 1st, at the office of Proper Power to discuss possible plans for the issuance of a stock dividend to its shareholders. Once the terms and structure of this dividend is set and agreed upon, Proper Power will release a statement outlining this issuance.
“Proper Power has been hard at work taking all of the necessary steps that it feels are needed to succeed as a productive oil and gas company. We realize that a large part of our success will be a direct result of our ongoing investor support. Identifying the importance of shareholder confidence is yet another step we must take. A stock dividend for shareholders could be a great way to demonstrate our support for them,” said Joseph Abdo, President, Proper Power & Energy.
About Proper Power & Energy:
Proper Power & Energy was formed in 2006 as an exploration and production company for oil and gas. The organization is committed to utilizing a very dynamic system of research and testing, and as a result of this extensive research and testing, have selected several sites with very good to excellent potential for productivity
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9:35 am
August 18, 2010
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PENNYGURU
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PPWE came with news yesterday after the bell. Seeing alot of chatter about it this morning. Looks like were going to see this one reall move today. Keep watch on it
Proper Power Reveals Results of Independent Study
TAMPA, Fla., Aug 17, 2010 /PRNewswire via COMTEX/ — Proper Power and Energy, Inc., (OTC Bulletin Board: PPWE) today released elected results from an independent study of seismic data on its oil and gas leases. The Company commissioned Howard Dunn, P.E. Chem, B Sc. G.E., M Sc. MT E of Meridian, Idaho to review raw seismic data that Proper Power purchased from an independent source.
The interpretations made by Dunn concerned a body of older seismic velocity stack trace image. The opinion is a review of the interpreted subsurface geological structures. The expected purpose of Proper Power's scope of work is to determine a best effort location to complete an exploratory well in the Paleozoic – Mesozoic subsurface sedimentary rock stratigraphic sequences in the area. Dunn has completed a comprehensive literary search of relevant geological information that has been reviewed and utilized to opine on the completed seismic interpretation.
Dunn states in his report, “Utah has a significant history of oil and gas production. Moving into Central Utah the dominant feature is the over-thrust belt region which extends from the Northeast (Anschutz field) arcing southeast down into the Southern Central region of Utah to include areas such as the recently discovered Covenant field near Ritchfield.”
Current estimates of recent production in the Central Utah play include 10 – 12 thousand barrel/day production by Wolverine Oil.
Current Related Activity:
“Recent exploration activity (since the Covenant field discovery, 2003) has been significant along the north-northeasterly trending over-thrust region laying parallel to Highway 15 with off-set exploratory drilling being completed on the trend-axis both to the west and east along the longitudinal direction of the trend. The producing unit is the well known Navaho eolian-sandstone section of Jurassic age. The source material is believed to be the thick underlying late Paleozoic sequences of the Mississippian shales. Secondary targets also include the interbedded twin creek sandstone units up section from the Jurassic Navaho. The exploration activities would be considered, in the author's opinion, to be on-trend plays,” concluded Mr. Dunn.
“These 'on-trend plays,' stated by Mr. Dunn, are obviously an exciting development in our continuing efforts to educate the public on the incredible reserve potentials right here in the U.S.,” stated Proper Power President, Joseph Abdo.
Mr. Dunn is a well respected petroleum engineer with past experience with oil and gas exploration in the states of Kentucky, North Dakota, Utah and Texas, as well as countries in South America. He is a graduate of the Colorado School of Mines and is a leader in the development of downstream gas-to-liquids process (GTL) facilities, and is a member of the Society for Petroleum Engineers.
Mr. Dunn is not now, nor ever has been as Officer or Director of Proper Power and Energy, Inc. or any subsidiary thereof. He has never been an insider or shareholder of the Company. The Company plans to release the balance of Mr. Dunn's independent report at a future date. |
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