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Bayport International Holdings, Inc. (BAYP) Announces Memorandum of Acquisition.
Bayport International Holdings, Inc. (BAYP) Announces Memorandum of Acquisition..
About this update from Bayport International Holdings, Inc.
[{"type":"text","content":"Aug 29, 2016\n\nBayport International Holdings, Inc.\n(BAYP) Announces Memorandum of\nAcquisition.\n\nBayport International Holdings, Inc., Has negotiated a\npreliminary agreement to acquire a property over ten thousand acres in Daniels\nCo. Montana has been signed, it would consist of a 3 well program focused on\nshallow drill. Drilling targeting the Madison, the Charles and Mission canyon group\nformations. This play could have a repeatable, low-risk, multi-stage frac for\nbest recovery.\n\nSubstantial quantities of oil and gas were produced from\nDaniels County in the early1990’s. Oil production peaked in 1993 at around 300,000\nbarrels a month, mostly from the Mississippian reservoirs. Currently the area\nis being explored by majors for the Bakken and Three Forks horizons. Other\ntargets could include: McGowan, Mission Canyon, Ratcliffe and Charles\nformations. The red river is the 2nd best producing river formation\nin the basin. Bakken is ranked as #3 producing zone.\n\nThe Bakken Play is the largest shale oil field in the world,\nwith current production at 1 million barrels per day and is more than 200,000\nsquare miles underlying parts of Montana, North & South Dakotas and\nSaskatchewan/Alberta, Canada. Estimated amount of recoverable oil by 2008 USGS\nstudy ─ 4.3 billion barrels. As the production areas and basin contours have\nextended, 2013 USGS study estimates the amount of recoverable oil as 7.4\nbillion barrels. Some industry experts believe this number could be as high as\n25-30 billion barrels of recoverable oil.\n\nAdding producing properties in the oil and gas industry will\nbecome a future priority for the company as we set our goals for a foundation\nof growth. \n\nAbout Bayport International Holdings, Inc.\n\nBayport International Holdings, Inc. is a company formed to\nexploit the various precious minerals in the U.S. to acquaint the public with\npractical investment opportunities in strategic metals and minerals. Bayport\nInternational Holdings, Inc. is primarily focused on precious metals, rare\nearth, plus oil and gas ventures. Bayport International Holdings, Inc. is a\ndeveloping mining, oil and gas properties firm with economic potential with\nhaving the aim of bringing such properties to commercial production. The\ncompany's portfolio of properties is primarily located in the prolific western...