SOURCE: OTC Report

October 03, 2012 07:00 ET

Kansas Still Seeing an Increase in Wells Drilled

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by The OTC Report.

NEW YORK, NY--(Marketwire - Oct 3, 2012) - In a recent article in The Wichita Eagle, Sandridge Energy (NYSE: SD) President Matt Grubb said the results from their presence in Kansas has justified spending in Kansas and estimates are they will have 100 wells in the state by year end. SandRidge expects to drill roughly 200 wells in Kansas in 2013. (http://www.kansas.com/2012/08/20/2456786/oil-exec-sandridge-finding-increasing.html)

GlobalGroup Investment Holdings (PINKSHEETS: GIHI) announced yesterday that they have completed two well re-works on their now 100% owned Kansas lease. The company expects to have two more wells completed by year end, and all 10 completed by the second quarter of 2013. The Company expects 10 completed Kansas wells to bring improved annual revenues of $600,000.

Other companies that have a presence in Kansas include MV Oil Trust (NYSE: MVO), Saxon Oil, Heartland Oil and Gas and Constellation Energy (NYSE MKT: CEP).

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