ROCKVILLE CENTER, NY--(Marketwired - Mar 6, 2017) - Supernova Energy, Inc. (OTC PINK: SPRN) ("Supernova" or the "Company") is pleased to provide additional details regarding the Company's productive oil and gas operations in Pratt County, Kansas.
Pratt County Leases - 780 acres - 100% Working Interest
Supernova is operator and 100% working Interest owner of its Pratt County leases (5 leases totaling 780 acres) located within the established Sawyer Field and is currently producing both oil and gas. The Sawyer field has produced an accumulative 3,383,397 MCF and 2,137,418 barrels of oil from four pay zones, (Lansing-Kansas city, Viola, Simpson and Arbuckle); the first well was drilled in 1957.
Since taking control as operator of the Pratt County leases in late 2015, Supernova has successfully reworked and restarted production in two temporarily abandoned (TA'D) wells (Keyes A #1 and Keyes B). An existing salt water disposal well (Harrell D) on the leases was also refitted and ungraded in August 2016 to support increased production levels in the field. The Company expects to further upgrade equipment on producing wells to increase flow rate and decrease water cut.
There are several other currently shut-in and temporarily abandoned (TA'D) wells on the Company's Pratt County leases that are being considered for reworking. Supernova believes many of its Pratt County wells are also candidates for secondary recovery (gas injection and waterflooding).
Kevin Malone, CEO of Supernova Energy, Inc., commented, "Our oil and gas producing Pratt County leases are an ideal project for Supernova to expand with a series of relatively low-risk well recompletions and workovers. The next step of this strategy is to have an engineering report commissioned to target the best recompletion candidates and to determine the best potential pay zones for each well. This same engineering report will also allow us to assess bringing gas production back online that could further add to our bottom line."
About Supernova Energy, Inc.
Supernova Energy, Inc. is an American based oil and gas production and exploration company with key holdings in Kansas and Kentucky. The Company's goal is to acquire economical leases in known oil and gas formations with low cost of recovery. The strategy is to specialize in well bore completion, re-completion and workovers on existing oil and gas production.
For more information investors can visit www.supernovaenergyinc.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
The foregoing contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. We intend for these forward-looking statements to be covered by the safe harbor provisions of the federal securities laws relating to forward-looking statements. This release contains forward-looking statements that reflect Supernova Energy INC., plans and expectations. In this press release and related comments by Company management, words like "expect," "anticipate," "estimate," "goal" and similar expressions are used to identify forward-looking statements, representing management's current judgment and expectations about possible future events. Management believes these forward-looking statements and the judgments upon which they are based to be reasonable, but they are not guarantees of future performance and involve numerous known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance, achievements or financial position to be materially different from any expressed or implied by these forward-looking statements. Important factors that could cause actual results to differ materially from the forward-looking statements are set forth in our quarterly and annual reports. Other information can be obtained at www.supernovaenergyinc.com.