Eco-Trade Corp. Signs Letter of Intent to Develop South Bakken Prospect in Montana with an Estimated Reserve Potential of between 80 to 120 Million of Barrels of Oil Recoverable
Montana is home to a large portion of the Bakken Shale formation, which is estimated to hold 3 to 4.3 billion barrels of undiscovered, technically recoverable oil (SOURCE: USGS)
GREAT FALLS, Mont.--(BUSINESS WIRE)-- Eco-Trade Corp. (OTCQB BOPT), an independent oil and gas exploration Company, announced today that it has signed a Letter of Intent to purchase the South Bakken Prospect in Montana in an area that has the potential to produce between 80 and 120 million of barrels of oil recoverable.
Eco-Trade Corporation will have the rights to the exploration, drilling and production rights on a property in Lewis & Clark County in Montana, near Great Falls totaling over 5,800 acres called the South Bakken Prospect. The property is located in the southern part of the Alberta Bakken Fairway, which is at least 175 miles long (north-south) and 50 miles wide (east-west), and which extends from Alberta southwards through Montana's Glacier, Toole, Pondera, Teton and Lewis & Clark counties.
The Alberta Bakken Fairway is time-equivalent to the Bakken Petroleum System of the Williston Basin, and is considered a proven play with production and DST hydrocarbon recoveries from the Bakken, and Exshaw Formation in Canada.
While management believes that the letter of intent and subsequent agreement may conclude successfully, the Company cannot warranty or guarantee success.
Please visit www.ecotradecorporation.com for more information
The information in this release includes forward-looking statements. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this release. You should carefully review the information disclosed within the section entitled "Risk Factors" contained in the Company's Report on Form 10Q filed on 2012-09-06, as well as the information contained in this release, when assessing the Company and its business. The Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms, such as prospective resource or Original Oil in Place (OOIP) or Petroleum Initially In Place (PIIP), or Estimated Reserve Potential (ERP), Estimated Ultimate Recovery (EUR) that the SEC's guidelines strictly prohibit us from including in filings with the SEC. Additional information may be found at the following web site:
Scott P. Gerard, 855-645-9378
KEYWORDS: United States North America Arizona Colorado Montana Nevada New Mexico Utah Wyoming
The article Eco-Trade Corp. Signs Letter of Intent to Develop South Bakken Prospect in Montana with an Estimated Reserve Potential of between 80 to 120 Million of Barrels of Oil Recoverable originally appeared on Fool.com.
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