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Article Excerpt
M2 PRESSWIRE-11 January 2008-OTCPicks.com: OTCPicks.com Daily Market Movers Digest Midday Report for Friday, January 11th CYPE, JADG, ISBL, PRPM(C)1994-2008 M2 COMMUNICATIONS LTD
RDATE:11012008
Our Stocks to Watch today include Century Petroleum Corp. (OTCBB: CYPE), Jade Art Group Inc. (OTCBB: JADG), Ise Blu Equity Corp. (OTC: ISBL), Propalms, Inc. (OTC: PRPM)
Visit http://www.otcpicks.com to register for our Daily Market Mover's Digest Newsletter, and Email Stock Watch Alerts.
CENTURY PETROLEUM (OTCBB: CYPE) "Up 13.43% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/CYPE.php
Century Petroleum Corp., an exploration stage company, engages in the acquisition, exploration, and development of oil and gas properties in the United States. The company owns a 100% working interest in Wilcox 105 and Miocene 101 prospects comprising 32 leases totaling 1,224 gross acres situated in Beauregard Parish, Louisiana. It also has a 4% working interest in the Thunder Stud prospect located in southern Louisiana; an undivided 8.92353% before casing point and 7.585% after casing point interest on the Shadyside Prospect located in St. Mary Parish, Louisiana; and a 10% interest in the Alligator Bayou Prospect located in Matagorda and Brazoria Counties, Texas. Century Petroleum was founded in 2004. It was formerly known as Som Resources, Inc. and changed its name to Century Petroleum Corp. in 2006. The company is based in The Woodlands, Texas.
CYPE News:
January 10 - Century Petroleum Announces Shadyside Initial Production
Century Petroleum Corp. (OTCBB: CYPE) ("Century" or "the Company") announced that the newly discovered gas condensate field on the Shadyside Farm has begun hydrocarbon sales. The project went on stream on January 7th, 2008 at 1pm. Century holds a 15.17% working interest after casing point in the project. At current prices, Shadyside #1 could generate potential gross revenues of approximately $375,000 per quarter to Century.
On its first day of production, the Shadyside #1 flowed at a rate of 84 BOC and 0.9 MMCFG via a 5/64 choke. No water was produced. The FTP was 7,700 PSI with no stimulation. On the second day of production, the production rate was increased to 136 BOC and 1.6 MMCFG. The Company plans to increase production rates gradually until reaching a stabilized optimal rate based on reservoir...
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