Free Trial!
Today’s Best Stocks To Trade! Click Here
Visit the only LIVE CHAT ROOM on the internet dedicated to (OTCBB: KDKN) shareholders, by visiting: http://www.stockwire.com ----------------------------------------------------------
CALGARY, ALBERTA, Mar 12, 2008 - Kodiak Energy, Inc.-New Mexico First Well Operations Update.
Kodiak Energy, Inc. (OTCBB: KDKN | news | PowerRating | PR Charts ) is pleased to announce that the Sofia #2 well in northeastern New Mexico, was spudded on March 1/2008 and was drilled to total depth and cased on March 11/2008. CO2 was found in three formations, two of which were the targeted formations. Well site samples showed 100% quality CO2 from the formations. CO2 is in high demand for enhanced recovery of oil in the Permian Basin of southwest Texas.
The drilling rig is moving and will spud Sofia #1 well within 24 to 36 hrs. Sofia #3 lease has been prepared.
A three well program is planned on these properties. The cost to drill per well is estimated at average $320,000. Upon completion of the drilling program, the wells will be completed, logged, tested and evaluated as soon as possible.
A 38 mile seismic program on these properties has been licensed and the program is expected to commence within 14 days. Budgeted cost is $500,000.
Good relationships have developed with the surface rights stakeholders and the State of New Mexico, as Kodiak continues to prove be a capable operator in all areas it operates in.
Kodiak is operator of and has 100% working interest owner in this high impact project located in northeastern New Mexico currently comprising approximately 62,000 acres and signed letters of intent for purchase of another 24,000 acres. Additional lands continue to be evaluated and sourced as appropriate. This land position in northeast New Mexico will place Kodiak as one of the larger mineral rights holders in the area.
These drilling, seismic and testing programs will further define the project with testing for deliverability, pay thicknesses, reserve estimates, helium potential and other hydrocarbons and thus overall project economics. An engineering firm has been contracted to perform feasibility studies and cost estimates for the development.
Target dates are subject to change as new information becomes available.
About Kodiak: Kodiak Energy, Inc. is a Calgary based publicly traded oil and gas development company focused on creating a portfolio of North American assets that offer production opportunities and asset growth through exploration. Kodiak has lease holdings in Montana, southeastern Alberta, northeastern Alberta and high impact prospects located in the central Mackenzie River Valley of the Northwest Territories, Canada and in northeastern New Mexico.
----------------------------------------------------------
About Stockwire: Stockwire is one of the largest communities for Micro Cap Investors. We are the only place on the internet to provide LIVE CHAT ROOMS for dedicated stocks.
We have also pioneering a new way to research companies before you invest them. It's called a Stockumentary. A Stockumentary is a documentary on a publicly traded company. Imagine a Dateline NBC segment, but on a publicly traded company. We are the first company to ever bring this type of quality research to investors in this format.
The Stockumentary has video interviews with management, product demos, video tours of office or factory, research reports, sec filings and much more. All of this is delivered to investors in high quality video, either by mail or email.
Stockwire.com is owned by Stockwire Research Group Inc. (SRGI) and is an independent electronic publication committed to providing our readers with factual information on selected publicly traded companies.
As detailed below, this publication accepts compensation from some of the companies from which it features. To the degrees listed herein, this Newsletter should not be regarded as an independent publication. All statements and expressions are the sole opinions of the editors and are subject to change without notice. A profile, description, or other mention of a company in the Newsletter is neither an offer nor solicitation to buy or sell any securities mentioned.
While we believe all sources of information to be factual and reliable, in no way do we represent or guarantee the accuracy thereof, nor the statements made herein.
We encourage our readers to invest carefully and read the investor information available at the web sites of the Securities and Exchange Commission ("SEC") at www.sec.gov and/or the National Association of Securities Dealers ("NASD") at www.nasd.com. The NASD has published information on how to invest carefully at its web site.
Readers can review all public filings by companies at the SEC's EDGAR page. www.sec.gov/edgar.shtml
Stockwire.com is an independent electronic publication committed to providing our readers with factual information on selected publicly traded companies. Stockwire.com is not a registered investment advisor or broker-dealer. All companies are chosen on the basis of certain financial analysis and other pertinent criteria with a view toward maximizing the upside potential for investors while minimizing the downside risk, whenever possible.
From time to time SRGI sells shares in the open market it receives as compensation for coverage of client companies. Since the shares are received as compensation for services as previously disclosed, and not for investment purposes, the editors do not view the sale of the shares as contradictory to any advice delivered in the content. This should be viewed as a conflict of interest by shareholders or prospective shareholders of the client companies.
Moreover, as detailed below, this publication accepts compensation from third party consultants and/or companies which it features on Stockwire.com. To the degrees enumerated herein, this newsletter and website should not be regarded as an independent publication.
The editor, members of the editor's family, and/or entities with which the editor is affiliated aside from Stockwire Research Group Inc. (SRGI) itself, are forbidden by company policy to own, buy, sell or otherwise trade stock for their own benefit in the companies who appear in the publication unless specifically disclosed in the newsletter.
THE READER SHOULD VERIFY ALL CLAIMS AND DO THEIR OWN DUE DILIGENCE BEFORE INVESTING IN ANY SECURITIES MENTIONED. INVESTING IN SECURITIES IS SPECULATIVE AND CARRIES A HIGH DEGREE OF RISK. THE INFORMATION FOUND IN THIS PROFILE IS PROTECTED BY THE COPYRIGHT LAWS OF THE UNITED STATES AND MAY NOT BE COPIED, OR REPRODUCED IN ANY WAY WITHOUT THE EXPRESSED, WRITTEN CONSENT OF THE EDITORS OF STOCKWIRE.COM.
We often accept restricted shares of company stock; by SEC regulations, restricted shares cannot be sold into the market for a period of at least one year from the time that the shares are issued. In such cases, we detail in the Disclaimer the specific term of any restrictions. We also receive compensation in the form of stock options, in which case we receive the right to buy shares of the stock of the company at issue, at a specified time and a specified price. In such circumstances, we specify on our Disclaimer the terms of the options received. On occasion, we also accept free-trading shares in a company that we cover. However, by policy we generally do not buy or sell any shares of a company's stock within three trading days after any such company's profile, commentary, or other company-specific information is disseminated on Stockwire.com Web site. In cases where we do trade within the three day window, our volume will never represent more than 5% of the daily volume, thereby minimizing any effect we could have on the potential price movement.
While our policies as detailed above are designed to minimize any impact upon our members of a conflict of interest between our company and our members, each member should be fully aware that such potential and actual conflicts of interest may well exist due to the compensation structure detailed herein. For this reason, and because the information contained on Stockwire.com is updated on a regular basis as circumstances change, each member is strongly encouraged to periodically review the Profile Compensation section at http://www.stockwire.com/disclaimer_profiles.htm
CONTACT: The Stockwire Group Tel: +1 512 358 8440 e-mail: info@stockwire.com
M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com.
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
