Eco-Trade Corp. (BOPT) Reports That Property is in Emerging Montana Section of Alberta Bakken Fairwa
Eco-Trade Corp. (BOPT) Reports That Property is in Emerging Montana Section of Alberta Bakken Fairway with Neighbors in General Vicinity Including Rosetta Resources, Primary Petroleum, Stone Energy and FX Energy, Inc.
According to BMO capital Markets, "While the play is still emerging, the Alberta Bakken appears to be developing into a potential new unconventional tight oil resource play"
GREAT FALLS, Mont.--(BUSINESS WIRE)-- Eco-Trade Corp. (OTCQB: BOPT), an independent oil and gas exploration Company, today comments with reports that its neighbors in general vicinity include Rosetta Resources, Primary Petroleum, Stone Energy and FX Energy, Inc.
The advent of the Alberta Bakken Fairway creates another opportunity for Bakken production outside of the boundaries of the Williston Basin. The Bakken Fairway was first discovered and drilled in Alberta, Canada, but now extends deep into northwest Montana into Lewis & Clark County where it is bordered by the Rocky Mountain Thrust Zone on the west and the Sweetgrass Arch to the west.
Major oil companies have now made the early move into the Bakken Fairway of northwest Montana and activity is accelerating rapidly. Rosetta Resources (NAS: ROSE) , Newfield, and Primary Petroleum (PIE.V) are the largest and most active to date. Other companies in the general vicinity include Stone Energy (NYSE:SGY ), Anschutz Exploration Corp., Quicksilver Resources Inc. NYSE: KWK, Fairways Offshore Exploration Inc., Arkanova Energy Corp. (AKVA:OTC US), FX Energy, Inc. (NAS: FXEN) and American Eagle Energy Inc. (AMZG: OTCBB).
Rosetta reportedly has a new discovery well with an IP of 450 BOPD north of the prospect area, and Primary Petroleum completed a Bakken well just west of the prospect area. Rosetta's initial discovery well in 2009, the Gunsight 31-16V, found oil saturation in the Lodgepole, Bakken, Three Forks and Nisku. To date, Rosetta has drilled 6 exploratory wells and confirms "significant oil hydrocarbons in place, 13-15 MMBOE per section, and over-pressured reservoirs."
According to BMO capital Markets, "While the play is still emerging, the Alberta Bakken appears to be developing into a potential new unconventional tight oil resource play."
A company spokesperson noted, "Given our location to strong and insulated markets situated in areas of pro-industry regulation and minimal environmental opposition, we have developed assets that have the potential of being very valuable to our shareholders. There are numerous competing pipeline companies and end-users providing us with an active market for our petroleum products in an industry that continues to grow to meet worldwide demand."
Eco-Trade is fully-reporting, independent oil and gas exploration company, that has drilling and production rights on a property in Lewis & Clark County in Montana, near Great Falls. Please visit www.ecotradecorporation.com
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 November 13 2012, as well as the information contained in this release, and amended risk factors to investment that may be found at http://www.ecotradecorporation.com/contact/safe_harbor.html 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:
Canon Bryan, 855-645-9378
KEYWORDS: United States North America Montana
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