Business
Bayport International Holdings, Inc. Announces the Signing of a Contract to Purchase Interest in the Steffelbeam Oil Gas Lease Prospect
Bayport International Holdings, Inc. Announces the Signing of a Contract to Purchase Interest in the Steffelbeam Oil Gas Lease Prospect.
About this update from Bayport International Holdings, Inc.
[{"type":"text","content":"LAS VEGAS, NV, June 20, 2013 -- Bayport International Holdings, Inc. (OTC Pink: BAYP). Today we are pleased to announce the signing of contract to acquire 5.0% working Interest and 3.75% net revenue in a new drilling program in the Steffelbeam Lease, Forest County, Pennsylvania. The contract is for wells with permit numbers 3 and 4, which have been submitted to Pennsylvania Department of Environmental Protection (PA DEP).\nResults of such will be updated in the next few weeks. We will also update our shareholders of the spud date and put updated pictures on our web site www.bayportinternational.com of the actual spud. Bayport plans on participating in several of many well projects in the Steffelbeam Lease program. We should have a final spud date on Drilling permit 3 and 4 on the Steffelbeam Lease in the next few weeks. We will produce BBL and other fact base data as we get it in. Spud data and drilling permits can be found at:\nhttp://www.portal.state.pa.us/portal/server.pt/community/oil_and_gas_reports/20297\nBayport International Holdings, Inc. is on an aggressive plan with focus on the Oil & Gas Energy acquisitions of leasehold, mineral interest and royalties to further our shareholder value and revenue streams. We are in final completion stages of our Gaines County Texas prospect as well. We are in completion stages of the Milford Lease drilling program, permit numbers, 38,39,30,68 each well constitutes a 5.0% working interest and a 3.75% net revenue. The past press releases of Jones, Nacogdoches County Texas and the Mississippi Pike County Interest will have a full update and listed under our projects page in our website this month. Feel free to call or email us with any questions.\nThis will bring the shareholders and company a direct revenue stream from Interest in six wells with a 3.75% share of the net revenue in each of the Milford and Steffelbeam lease in Forest County Pennsylvania and interest in wells that are in current production in Jones, Pike and Nacogdoches County Texas.\nMilford Lease Forrest County Pennsylvania: \nThe location Forest County, Pennsylvania is east of the town of Titusville, Pa. This area has always been prolific in the production of oil and natural gas. The preliminary target zones for wells on this lease will be the 1st Sands, 2nd Sands, 3rd Sands, and Red Valley Formations. These oils an...