Demand for oil and
oil derivatives generally keep pace with the broader U.S. economy and rate of
new jobs creation. According to an early April report issued by the Energy
Information Administration, spot prices for West Texas Intermediate crude oil
are on track to average at $95.60 a barrel this year, a hike over previous
forecast of $95.33 a barrel. Start Scientific aims to build on these estimates
to create shareholder value and play a role in supplying growing demand by
using its management and industry experience as catalysts for continued growth.
Leveraging a
management team with more than 65 years of combined relative experience, Start
Scientific focuses on the exploration, drilling, extraction, and delivery of
sweet crude oil. Current company assets include holdings in Romania and
Mississippi. Leveraging management contacts, Start Scientific aims to expand
its holdings by acquiring additional oil and gas assets, as well as to expand
its exploration and development of existing properties.
Romanian assets
include roughly 120,000 acres of concession and leases covering six existing
oil and gas fields with significant undrained and undeveloped oil and gas
reserves. The company’s strategy in Romania is to drill one new well in each of
three fields in Romania; participate in two new wells in the two fields
operated by Amromco; recomplete one existing well in the Catrunesti Field; and
initiate necessary repair and replacement on the existing pipeline in the
Alexandria Block.
In Mississippi,
Start Scientific holds a significant interest in the Pickens Field 35 miles
north of Jackson. The company estimates that as many as 20 locations are
possible, and total recovery forecast at roughly 200,000 barrels of oil per
well. Depending on the western extent of the field, an estimated 4 million to 5
million barrels of oil may be recoverable.
For more
information, visit www.startscientificoil.com
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