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CGrowth Capital, Inc. Closes Escrow on Wyoming Oil Leases
CGrowth Capital, Inc. Closes Escrow on Wyoming Oil Leases.
About this update from Cgrowth Capital, Inc.
[{"type":"text","content":"\n \n \n CGrowth Capital, Inc. Closes Escrow on Wyoming Oil Leases\n \n \nCGrowth Capital, Inc. Closes Escrow on Wyoming Oil Leases\n\nWest Salt Creek Property Boarders Anadarko Reserve\n\n \n SILVERDALE, WA--(Marketwired - Oct 29, 2013) - CGrowth Capital, Inc. (OTC Pink: CGRA) (the \"Company\") is pleased to announce that it has closed escrow and completed the purchase of 2,064 acres of Wyoming oil leases with 65 offset drilling locations from West Salt Creek, Inc. (\"WSC\"). The leases include active wells with current production along with the associated fixtures, pumps, vehicles, and tanks for the current field operation. Located in the Powder River Basin, the property boarders and shares the same physical characteristics as Anadarko Petroleum's Salt Creek project (thus the West Salt Creek name).\n \"Success!\" stated Bill Wright, CEO of CGrowth Capital, Inc. \"A great deal of time and energy by everyone involved has paid off. Again, I want to personally thank the West Salt Creek, Inc. management, staff, and consultants, as well as our internal staff and partners, for their professionalism in closing this transaction timely. It is rewarding to see everyone smiling at the conclusion of our hard work.\"\n Mr. Wright continued, \"The closing of this transaction does much more for us than proving our diligence in completing transactions. We truly have acquired an asset with yet untapped potential -- both in terms of the fields and wells themselves, as well as the team of people coming on board. To really appreciate what the Company has you need to actually see it. Being able to throw a rock from our property to one of the biggest Anadarko reserves in North America is really quite special.\"\n Montgomery George, President of West Salt Creek, Inc., stated, \"It is amazing to see how much a relatively unknown company has in the works and how quickly they are able to get things done. CGrowth Capital's enthusiasm for this project, as well as their unwavering commitment to their current mining project, has been very infectious. We are excited to be helping the company moving forward and to be a part of the future success. While the immediate daily production from the oil fields is helpful, we are already seeing results from the revitalization work on the existing wells. Our first well workover increased production from a half barrel a...