Trophy Resources (TRSI) Acquires Mineral Lease Rights of 3300 Acres In Freemont County, Wyoming
CLEVELAND, OH -- Trophy Resources (Oil and Natural Gas Division) (PINKSHEETS: TRSI) is pleased to announce the acquisition of 100% working interest in the mineral lease rights of 3300 acres of prospective oil and natural gas property in Freemont County, Wyoming. Early engineering reports have provided the company with an estimated recoverable reserve of 9.8 million barrels of oil and 44.5 million MCF of natural gas.
The Diamond Springs prospect is composed of three independent but geologically similar prospective locations located within the 3300 acre track. West of Casper, Wyoming, in the Sweetwater Mountains, this prospect is adjacent to both the Wind River Basin and the Casper Arch in Freemont County and is in close proximity to productive gas and oil fields.
The Northwest, North, and West Diamond Springs are shallow drilling prospects, 200’ to 1100’ in depth, with a possible 72 drilling sights between the three locations based on 20 to 40 acre spacing, with stratigraphic pinch-outs of sands of the Cretaceous Frontier, Dakota, and Lakota formations; and, Jurassic Morrison and Sundance formations.
“C. P. Abrassart, the geologist reporting on this prospect has compared the stratigraphic trap within this location to that of the nearby Cottonwood Creek Field (Big River Basin) which has an estimated reserve of over 60 million barrels of oil,” stated Trophy CEO, Eric Leonetti, adding “we feel fortunate to have brought this prospect into our now growing list of assets as many stratigraphic traps with significant reserves have been successfully drilled in the Rocky Mountain area.”
Trophy will actively develop the three areas in this prospect independently of each other and is pursuing joint venture partners to aid in the process. The company intends to update its shareholders as major events occur. This report includes anticipated reserves that were unintentionally omitted from the initial news release.
About Trophy Resources
Trophy Resources, Inc. (www.trophyoil.com) is an independent natural resource company with the goal of controlling lease hold acreage and mineral rights. Trophy’s oil interests to date are in the Fort Worth Basin in central Texas, and the Williston Basin, Montana. Trophy expects to acquire advanced-stage projects and/or producing mines in some of the most prolific precious metal districts in the world. The Company’s goal is to evaluate profitable options, build a solid foundation of assets through acquisition of land and/or leases, and explore and develop opportunities on these leases.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “future,” “plan” or “planned,” “will” or “should,” “expected,” “anticipates,” “draft,” “eventually” or “projected.” You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks. Trophy Resources, Inc. is an early exploration and production company. At the time of this release Trophy Resources lacks the financial capabilities to meet its financial obligations and its management may find it necessary to dilute the company’s shares to raise the necessary operating capital. Based upon industry standards Trophy would be considered highly speculative and lacks any competitive advantage over its competition. Additional risks you should consider, this list is limited and additional risk not mentioned may apply: failure to meet Trophy’s financial and contractual obligations, Trophy’s managerial errors made based upon the Company’s limited experience and knowledge of the industry, commodity risk, acts of God and regulatory risk. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements.
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