Posted on 03 October 2011. Tags: FXPT
Current PPS: $0.0254
Avg. 10day Vol: 2.0M
Outstanding Shares: 128.1M
Fox Petroleum Inc. (FXPT) is a New York based oil and gas company, which through its subsidiaries Renfro Energy LLC Renfro and Cameron Parish LLC, strives to become a major force in the booming oil and gas industry. FXPT is focused on the acquisition, development, and operation of small to medium sized producing oil and gas reserves. FXPT, via Renfro Energy and it’s predecessor company, has purchased and sold over $6M of oil and gas producing properties through approximately 15 acquisitions.
FXPT’s current project, Cameron Parish School Board Lease, is located in Cameron Parish, Louisiana, which is comprised of 880 acres, two oil wells, and two shut-in wells of gas and salt disposal. FXPT has also recently re-acquired four wells that were orphaned by the Louisiana Office of Conservation. These recent acquisitions all follow in plan with FXPT’s mission to fully develop and exploit all potential oil reserves from 200,000 to 500,000 barrels.
-Renfro Energy LLC previously owned asset, Cameron Parish Lease, was purchased in 2002 and seven years later was sold for over 10 times the acquisition price; Since its formation in 1995, Renfro Energy LLC has gone through 15 acquisitions throughout Texas, Oklahoma and Louisiana and has bought and sold over $6 million of gas and oil properties
-FXPT plans to have the two oil wells, in the Cameron Parish Project, to be in full development within thirty days of its recent acquisition to actively produce between 15-20 barrels a day or an estimated 600 barrels per month.
-FXPT’s Cameron Parish School Board Lease was founded in the 1930’s and has since then cumulatively produced over 6 million barrels of oil.
– FXPT’s newly appointed President, James Renfro, has an experienced background as having been in the oil business for over 30 years and was a former petroleum engineer for Exxon and Shell Oil and served as an energy investment banker as well.
-According to the National Association of Consumer Shows (NACS), the world oil consumption was 86.6 million barrels a day in 2010 and the U.S gas demand was 9.06 million barrels per day; The U.S oil and gas demand is rising each day and FXPT will help companies in need of strategic resources to operate at the U.S demand.
FXPT looks like it is sitting at PERFECT ENTRY POINT for PROFIT!!
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