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ORFG (Orofino Gold Corp.)


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orfgOrofino Gold Corp. (ORFG) is an international company who currently focuses on the acquisition, exploration, and development of mineral and oil and natural gas properties, both in the U.S and internationally, and will soon undergo a Company Name and Symbol Change to formally become Bakken Energy Corp.

Through its Newly Acquired Subsidiary, known as Nations Oil and Gas, the company’s properties include several oil and gas leases in the San Juan and Uinta basins, and surrounding locations in the state of Utah totaling approximately 15,000 net acres. The core area of ORFG’s operations is in the Unita Basin that details to have recoverable oil resources in excess of 14.5 billion barrels of Shale Oil whereas the company’s property in the San Juan basin previously produced 1.32 trillion cubic feet of natural gas and became known as the Largest Source of Natural Gas in the U.S.

Furthermore, the company is seeking to expand its properties and is currently Negotiating an Acquisition to acquire Alberta Gas Co., who is current owner of seven wells in two separate fields in Utah and enough space to add an additional 22 wells, and a New Oil Refinery in Southern Utah with an estimated property value exceeding $70 million. However, the biggest news is ORFG’s latest Signing of Letter of Intent for a joint venture with Indigo Resources Inc. to access assets in the oil and gas properties in the Unita Basin, which will coincide with Indigo Resource’s intent to purchase approximately 150,000 barrels of oil per week from the company.

 

Symbol: ORFG   [ Current PPS: $0.0144   Outstanding Shares: 303.4M   Float: 300.9M – a/o July 7, 2014 ]

orfg chart

Website(s): www.nationsoilandgas.com

 

Market

  • The U.S Energy Information Administration forecasts the natural gas market production will increase to 70.5 billion in 2014.
  • The U.S Energy Information Administration (EIA) estimates the global oil consumption increased 1.2 million barrels per day in 2013 and will continue to increase in 2014 to 1.3 million barrels per day and 1.4 million barrels per day in 2015.
  • Natural Gas consumption is expected to increase to 185 trillion cubic feet by 2040.
  • As detailed by MSN News, the U.S will become the world’s top oil producer in 2015.
  • The article also stated the International Energy Agency projects the price of oil per barrel will steadily reach $216 by 2035.
  • By 2035, U.S demand for oil will reach 101 million barrels per day.
  • The state of Utah produced over 35 billion barrels of oil and over 470.7 MCF of natural gas in 2013.
  • Research indicates the states of Utah and Wyoming is estimated to hold approximately 3 trillion barrels of oil.

 

Recent News

  • Annual Net Revenues of approximately $10 million will result from the company’s role as a facilitator in the Oil, Coal, and Leasing sectors by bringing together the buyer and seller and/or becoming a buyer or seller in the transactions.
  • The company is currently selecting properties in Utah, North Dakota, South Dakota, New Mexico, Colorado, and Wyoming for property expansion.
  • A highly anticipated stock dividend by current shareholders will soon occur.
  • ORFG has Appointed a New CEO, Michael James, who brings over 36 years of experience as a Geologist and extensive knowledge and experience in the Oil, Gas, and Energy sectors.

 

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