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Bayport International Holdings, Inc. Updates Interest in the Steffelbeam Oil Gas Lease Prospect
Bayport International Holdings, Inc. Updates Interest in the Steffelbeam Oil Gas Lease Prospect.
About this update from Bayport International Holdings, Inc.
[{"type":"text","content":"Bayport International Holdings, Inc. Updates Interest in the Steffelbeam Oil Gas Lease Prospect\nAugust 2, 2013\nTulsa OK. \nTulsa, OK, August 2, 2013 -- Bayport International Holdings, Inc. (OTC Pink: BAYP). Today we announce updates to the previously announced contract for 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 1, 2, 3 and 4, which have been submitted to Pennsylvania Department of Environmental Protection (PA DEP) and approved.\nCurrent activity as of August 2, 2013 on the well site is as follows:\n \nSteffelbeam Well 1 has had the tubing and rods set in, a unit has been set and has power.\n \nSteffelbeam Well 2 has had the tubing and rods set in, a unit has been set and has power.\n \nSteffelbeam Well 3 has been fracked and has had the tubing and rods set in, power unit to be installed Friday August 2nd.\n \nSteffelbeam Well 4 drilling has been completed, casing has been set and cemented, fracking scheduled for Tuesday August 6th.\n \nWells 1 and 2 should be online by Monday August 5th. We will update as further information becomes available.\nSpud data and drilling permits as they become available 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.\nSteffelbeam Lease Forrest County Pennsylvania:\nThe Steffel Beam Lease is directly adjacent from the Milford Lease Forrest County Pennsylvania. And thus has all the same shale and play potential. The 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 and gas bearing formations are found t...