Eco-Trade Provides Shareholders With Update Regarding Market Trading Activity As Company Continues Growth Towards Execution of Business Plan and Future Revenues
GREAT FALLS, Mont.--(BUSINESS WIRE)-- Eco-Trade Corp. (OTCQB BOPT), an independent oil and gas exploration company (the "Company"), today commented on its recent market activity believing that there may be a smear campaign against the Company and a coordinated effort to short the Company's common stock.
The Company wishes to communicate proactively with its shareholders that it takes the matters of its share value seriously and has engaged legal counsel with the intention to investigate further on any short selling that may be taking place on its common stock. The Company's legal counsel, who specialize in Securities Law, will be looking at comments made on online blogs, social media and other similar venues, especially where the Company feels that there may be slanderous accusations and untruths.
Eco-Trade Corp. has a dynamic business model coupled with an outstanding management and advisory team that has experience in the petroleum industry, corporate finance and regulatory governance.
Some of the recent news includes:
1. A letter of intent with Ambrosia Holding and Finance ltd. for a $5 million dollar financing for the development its first Bakken well.
2. The engagement of Integrated Petroleum Technologies Inc., an industry respected firm that will be providing an engineering report on the property.
3. An overhaul of all key management personnel, and the addition of a world class Board of Directors.
Many see as the 'Contender for the US Oil Drilling Crown'.
According to a recent article on CNBC, the Bakken is an oil hub that some believe could challenge the Gulf Coast's crude output. See http://www.cnbc.com/id/100579131
"Bakken, a region stretching through swaths of North Dakota and Montana, has transformed itself into a major site of US crude production. The formation is now seen as the future of oil drilling in the U.S., and is an epicenter of pipeline expansion projects designed to capitalize on production. Estimates say the region's oil output has more than doubled over the last two years."
"According to official data cited by North Dakota's Department of Mineral Resources and the Energy Information Agency, Bakken crude production surged from 274,000 barrels per day in January 2011 to 673,000 in January 2013."
"Yet private estimates put that figure even higher, stating Bakken generates more than 800,000 barrels per day — with the potential to top one million barrels within the next few years. Analysts expect some 33,000 wells will be drilled there over the next 20 years, with more than 5,000 coming by 2015."
Oil production from both Western Canada and the Bakken is expected to continue to grow at a rapid clip for years to come. Even relatively conservative forecasts suggest that combined production growth from the Bakken and Western Canada may exceed 1 million barrels a day in the next three years. Many other industry forecasts anticipate even faster growth rates including forecasts by CIBC for Canada and one by PIRA for the Bakken).
Eco-Trade Corp. has excellent prospects moving forward, and is garnering interest from the financial community. Here are some of the key points:
Single-basin strategy with a scalable position
Low-risk development opportunities and exploration upside
Non-operated business model reduces overhead
Experienced management and operations team
Substantial production and revenue growth in the near-term
The Company believes that it has positioned itself in the middle of a major new oil play in Continental America, and is looking forward to developing its assets further.
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:
David Price, 855-645-9378
KEYWORDS: United States North America Montana
The article Eco-Trade Provides Shareholders With Update Regarding Market Trading Activity As Company Continues Growth Towards Execution of Business Plan and Future Revenues originally appeared on Fool.com.
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