SOURCE: Sun Cal Energy, Inc.

March 31, 2010 09:15 ET

Sun Cal Energy Engages Stepp Law Group

SAN FRANCISCO, CA--(Marketwire - March 31, 2010) -  Sun Cal Energy Inc. (PINKSHEETS: SCEY), reports that it has engaged the Stepp Law Group of Newport Beach to assist in the process of completing the company's filings and regaining its OTC BB listing status.

"We are committed to becoming a fully reporting entity once again," states Company president George Drazenovic. "The company will be providing an update to its shareholders regarding the ongoing operations in the very near future."

The company reiterates the following press release regarding its Kern County property:

On July 22, 2009, Occidental Petroleum Corporation announced that it had made a significant discovery of oil and gas reserves in Kern County, California. At the time of the announcement, Occidental believed there were between 150 million and 250 million gross barrels of oil equivalent (BOE) reserves within the outlined area where it drilled six wells to delineate the discovery.

Previously, in April 2007, Sun Cal Energy announced that it had exclusive oil and gas rights for the Lokern Prospect owning a 45% working interest in 480 acres of prime land in the oil and gas rich Kern County region, the most prolific area in the San Joaquin Valley in Southern California. Surrounded by oil fields that produce greater than 500,000 barrels of oil/day and with Occidental controlling a large amount of mineral rights and 3D seismic data covering the Lokern Property vicinity, the Company believed that it was well positioned to take advantage of increased activity in the area over the next few years.

Most recently, in March 2010, Forbes Magazine published an article suggesting that Occidental's discovery "is shaping up to be the biggest onshore oil discovery the U.S. has seen in three decades and likely holds more than one billion barrels of oil (and natural gas equivalents) that will be easy and cheap to extract." The Article further states that "the reservoir is 20,000 feet underground and could stretch 50 miles."

By all indications Sun Cal's property is within 3 miles of the initial discovery well drilled by Occidental Petroleum, and therefore is reasonably projected that its structure and scope runs through the Sun Cal property.

George Drazenovic, President and Chief Executive Officer of Sun Cal Energy, Inc., states: "We are pleased to update our shareholders and announce the recent discovery of this oil field by Occidental. We intend to explore opportunities to finance and develop this high impact opportunity, and to provide our shareholders the opportunity to participate in one of North America's most significant oil and gas discoveries in a generation."

With the stabilization of oil prices, the weakness in natural gas prices, and most importantly, the recent discovery of a massive and nearby oil field by Occidental, Sun Cal Energy has chosen to shift its primary company focus to developing its Lokern Prospect in California.

This news release contains information that is "forward-looking" in that it describes events and conditions, which Sun Cal Energy Inc. ("SCEY") reasonably expects to occur in the future. Expectations for the future performance of the business of SCEY are dependent upon a number of factors, and there can be no assurance that SCEY will achieve the results as contemplated herein and there can be no assurance that SCEY will be able to conduct its operations or production from its properties will result from or continue as contemplated herein. Certain statements contained in this report using the terms "may," "expects to," and other terms denoting future possibilities, are forward-looking statements. The accuracy of these statements cannot be guaranteed as they are subject to a variety of risks, which are beyond the Company's ability to predict, or control and which may cause actual results to differ materially from the projections or estimates contained herein. SCEY disclaims any obligation to update any forward-looking statement made herein.

Contact Information

  • For further Information:
    Sun Cal Energy, Inc.
    Investor Relations: 415 738 8039