Baron Energy, Inc. Updates Year-End Production and Outlines 1Q 2012 Work Plans
12 Gennaio 2012 - 4:41PM
Baron Energy, Inc. (Pink Sheets:BROE) ("Baron" or the "Company"),
an independent oil and gas company, announced today results for
year 2011 and outlined plans for the first quarter 2012.
Management Comments
Ronnie L. Steinocher, President and CEO, said, "We ended 2011
with net production of 32 BOPD, an increase of 20 BOPD for the
year. This included three small acquisitions and several well
reactivations. We also carried into 2012 ongoing negotiations
for three new producing property acquisitions."
Mr. Steinocher added, "We're starting 2012 in much better shape
than 2011. Our acquisitions last year set the stage for a
number of new opportunities and we are working to close these as
soon as possible. We have a well-thought-out plan for this
year and are working to have the required resources in place to
execute this plan."
"This year will be an extension of our 2011 program, but with
more focus on larger acquisitions with in-fill drilling locations
for later this year. We are also working diligently to
complete our audited financials, move to the OTCBB, and restructure
or eliminate our debt."
About Baron Energy, Inc.
Baron Energy, Inc. (Pink Sheets:BROE) is an independent oil and
gas production, exploitation, and exploration company headquartered
in New Braunfels, Texas, with producing assets in the prolific oil
producing Permian Basin of West Texas and North Central Texas.
Baron owns production that is 100% oil, both operated and
non-operated, with working interests ranging from 12.5% to 100% in
oil fields located in Archer, Baylor, Garza, Jones, Runnels,
Scurry, Taylor, and Young counties, Texas.
Baron's growth strategy centers on making accretive
acquisitions, production enhancement programs, reactivation
projects, and in-fill drilling, all within the Company's core area
of North Central and West Texas. Baron's primary focus is on
conventional oil production.
For more information, please visit www.baronenergy.com.
Forward-Looking Statement
Certain statements in this press release that are not historical
facts are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such
statements may be identified by the use of words such as
"anticipate," "believe," "expect," "future," "may," "will,"
"would," "should," "plan," "projected," "potential," "intend," and
similar expressions. Such forward-looking statements, involved
known and unknown risks, uncertainties and other factors that may
cause the actual results, performance or achievements of Baron
Energy, Inc. (the "Company") to be materially different from those
expressed or implied by such forward-looking statements. The
Company's future operating results are dependent upon many factors,
including risk factors discussed in the Company's periodic fillings
with the Securities and Exchange Commission, which are available
for review at www.sec.gov, including the Company's Annual Report on
Form 10-K filed on October 23, 2009. The Company undertakes no
obligation to update any forward-looking statement, whether as a
result of new information, future events, or otherwise.
CONTACT: Baron Energy, Inc.
Investor Contact
Brad Holmes
(713) 654-4009
b_holmes@att.net
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