SOURCE: Bayport International Holdings, Inc.
TULSA, OK--(Marketwired - Dec 6, 2013) - Bayport International Holdings, Inc. (OTC Pink: BAYP) We would like to update our shareholders with interest held by BAYP. The following is a list of producing wells which Bayport International Holdings, Inc. has several different types of interest in.
Steffelbeam Lease, Forest County Pennsylvania. BAYP owns 5.0% WI and 3.75% NRI in four individual wells, permit numbers 1,2,3 and 4. Steffelbeam Lease has been in production since 8-3-2013 and has produced a total of 2309.45 BBLS. We are very pleased with the outcome and success we are having in these oil rich fields. We completed this purchase through Downhole Energy, LLC. In Rockwall Texas. Operator is Coastal Petroleum Corporation.
Peck Lease, Gaines County, Texas. BAYP owns 3.5 % Non Participating Working Interest (Royalty) only. The wells are located within Section 372, Block "G", Gaines County, Texas. The Peck "A" lease covers 320 acres in the prolific Permian Basin, Devonian and San Andres formations.
Trawick Gas Unit 21, (Trawick Gas Field), Nacogdoches County, Texas. BAYP owns Royalty Interest. Info on the wells can be found on the Texas Railroad Commission website. The operator for this unit is the Exxon Mobil Corporation.
Star Duster No. 1 Gas & Oil Well, Nacogdoches County, Texas. BAYP owns Royalty Interest. Lease ID 225303 Info on the wells can be found on the Texas Railroad Commission website. The operator for this unit is the Sonerra Resource Corporation.
J. H. Wade Oil Well Field Name (PHANTOM LAKE (TANNEHILL) Jones County, Texas. BAYP owns Royalty Interest & Overriding Royalty Interest. Lease ID 11407 Info on the wells can be found on the Texas Railroad Commission website. The operator is Schkade Bros. Operating Company.
Baker 1H Gas Well, BAYP owns Royalty Interest in Lease ID 263188 & API number 347-33238 per Texas Railroad Commission. Operator is Eog Resources, Inc. The field name is Hayneville Shale, a major natural gas field in the United States located in the East Texas region. Since November 2011 to August 2013 production number per MCF is 1,821.380.
Future Oil Gas & Developments
Scott Lease, Venango County, Pennsylvania. LOI in place. We are working with Downhole Energy, LLC. In Rockwall Texas to complete this contract. Interest is for 15.0% WI and 11.25% NRI to be acquired in each of the five wells, permit numbers 1,2,3,4 and 5. The Lease is approximately 52 acre lease is on the Scott Lease north east of the town of Oil City, Pa.
Peck Lease, Gaines County, Texas. We are in negotiations and evaluating our situation in Gaines County Texas. Recenty, positive developments have arisen for larger participation in this Peck Lease and other geographical locations in Gaines Co. Texas. Management will release further information first part of January 2014 or sooner.
Updates on the several other wells Bayport International Holdings, Inc. has Interest in will be released shortly. We want to keep our shareholders up to date and the company transparent with operations as possible. Our acquisitions have been successful thus far in the Oil, Gas and Energy industry. We look forward to prosperous growth with our shareholders.
We would like to also update our shareholders on the progress of the Audit and Form 10 completion. In the last several weeks we have been working towards SEC Fully Reporting Status and OTC:QB up listing. It is our understanding that the process is going well, and we expect to achieve Fully Reporting Status before the end of the 4th quarter.
We have supplied our attorney with business plan, Industry Standard Asset Questionnaire, Articles of Incorporation, Bylaws, Meeting Notes and Amendments. Our auditor has received 3 years bank statements, digital financial documentation, permission forms to speak to all associated banks, transfer agent and other financial institutions, mining bonds, asset valuations, and a series of receipts and invoices for cash payment support. As they request additional documentation we will promptly provide the requested information.
About Bayport International Holdings, Inc.
Bayport International Holdings, Inc. is a company formed to exploit the various precious minerals in the U.S. to acquaint the public with practical investment opportunities in strategic metals and minerals. Bayport International Holdings, Inc. is primarily focused on precious metals, rare earth, and oil and gas ventures. Bayport International Holdings, Inc. is developing mining and oil and gas properties with economic potential with the aim of bringing such properties to commercial production. The company's portfolio of properties is primarily located in the prolific western USA in Utah and Texas.
Cautionary Note Regarding Forward-Looking Statements
This press release and the statements of representatives of Bayport International Holdings, Inc. (the "Company") related thereto contain, or may contain, among other things, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements," including any other statements of non-historical information. These forward-looking statements are subject to significant known and unknown risks and uncertainties and are often identified by the use of forward-looking terminology such as "guidance," "projects," "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "ultimately" or similar expressions. All forward-looking statements involve material assumptions, risks and uncertainties, and the expectations contained in such statements may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results (including, without limitation, Bayport's ability to advance its business, generate revenue and profit and operate as a public company) could differ materially from those stated or anticipated in these forward-looking statements as a result of a variety of factors, including factors and risks discussed in the periodic reports that the Company files with OTC Markets (Pink Sheets). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.