Aug 29, 2016
Bayport International Holdings, Inc. (BAYP) Announces Memorandum of Acquisition.
Bayport International Holdings, Inc., Has negotiated a preliminary agreement to acquire a property over ten thousand acres in Daniels Co. Montana has been signed, it would consist of a 3 well program focused on shallow drill. Drilling targeting the Madison, the Charles and Mission canyon group formations. This play could have a repeatable, low-risk, multi-stage frac for best recovery.
Substantial quantities of oil and gas were produced from Daniels County in the early1990’s. Oil production peaked in 1993 at around 300,000 barrels a month, mostly from the Mississippian reservoirs. Currently the area is being explored by majors for the Bakken and Three Forks horizons. Other targets could include: McGowan, Mission Canyon, Ratcliffe and Charles formations. The red river is the 2nd best producing river formation in the basin. Bakken is ranked as #3 producing zone.
The Bakken Play is the largest shale oil field in the world, with current production at 1 million barrels per day and is more than 200,000 square miles underlying parts of Montana, North & South Dakotas and Saskatchewan/Alberta, Canada. Estimated amount of recoverable oil by 2008 USGS study ─ 4.3 billion barrels. As the production areas and basin contours have extended, 2013 USGS study estimates the amount of recoverable oil as 7.4 billion barrels. Some industry experts believe this number could be as high as 25-30 billion barrels of recoverable oil.
Adding producing properties in the oil and gas industry will become a future priority for the company as we set our goals for a foundation of growth.
About Bayport International Holdings, Inc.
Bayport International Holdings, Inc. is a company formed to exploit the various precious minerals in the U.S. to acquaint the public with practical investment opportunities in strategic metals and minerals. Bayport International Holdings, Inc. is primarily focused on precious metals, rare earth, plus oil and gas ventures. Bayport International Holdings, Inc. is a developing mining, oil and gas properties firm with economic potential with having the aim of bringing such properties to commercial production. The company's portfolio of properties is primarily located in the prolific western USA in Utah and Pennsylvania, Texas.
Cautionary Note Regarding Forward-Looking Statements
This press release and the statements of representatives of Bayport International Holdings, Inc. (the "Company") related thereto contain, or may contain, among other things, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements," including any other statements of non-historical information. These forward-looking statements are subject to significant known and unknown risks and uncertainties and are often identified by the use of forward-looking terminology such as "guidance," "projects," "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "ultimately" or similar expressions. All forward-looking statements involve material assumptions, risks and uncertainties, and the expectations contained in such statements may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results (including, without limitation, Bayport's ability to advance its business, generate revenue and profit and operate as a public company) could differ materially from those stated or anticipated in these forward-looking statements as a result of a variety of factors, including factors and risks discussed in the periodic reports that the Company files with OTC Markets (Pink Sheets). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.
Investor Inquiries:
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