World Oil Group Inc. Wires out Payment for 10th Oil Well and to Begin Fracking
March 16 2015 - 08:30AM
Access Wire
DEBARY, FL / ACCESSWIRE / March 16, 2015 /
World Oil Group, Inc. (PINKSHEETS:WOGI) is pleased to announce the
Company has wired out the payment for the 10th well to be drilled
and to begin fracking the first 5 of 10 oil wells. Xite Energy has
currently scheduled fracking to begin April 15, 2015.
WOGI will closely monitor the market after it begins fracking to
determine if we will continue fracking or stop fracking and use the
in ground reserves as a holding tank to reduce above ground storage
cost. WOGI previously held off from fracking to allow the market to
stabilize but will move ahead to meet contractual obligations.
The geological reports and visible oil from drilling the first 9
wells has shown heavy oil saturation prior to the wells being
fracked. WOGI is excited about what visible reports have shown in
oil saturation and is looking forward to get started on the
fracking. Once Oil production is online, Ergon is in place to start
purchasing oil from WOGI's production.
WOGI will release an updated report on the fracking and flow
rate of barrels per day (bpd) once it's been determined,
calculated, and sold.
WOGI's CEO purely believes the Oil markets are entirely being
directed by political reasons and not true markets conditions. The
Oil demand continues to get stronger as population continues to
grow and create more demands. The current overflow of Oil in the
USA will be quickly absorbed and then the lack of current
production will cause an even greater demand because companies have
stopped drilling during this time period. Therefore, WOGI is
optimistic in its strategic position in the Oil business and its
markets.
About World Oil Group, Inc.
World Oil Group, Inc. (WOGI) is a petroleum company that has
traditionally focused on Oil & Gas Exploration in the
Pennsylvania markets by and through its wholly owned subsidiary EPA
Petroleum, Inc. First Quarter, WOGI is scaling up operations in the
MENA, Gulf and Central/South American regions in 2015, the company
will keep its shareholders updated.
EPA Petroleum, Inc. "EPA" is a wholly owned
subsidiary of World Oil Group, Inc. (WOGI). The Company is an
independent producer of crude oil and natural gas. EPA Petroleum is
actively involved in drilling activities within the Commonwealth of
Pennsylvania using Xite Energy, Inc. as its subcontractor drilling
partner.
World Oil Group, Inc. is now taking the path
breaking challenge to lead the world on its "Sustainable Oil &
Gas Field Model" implementing the concepts and related applications
model in the Petroleum Industry. WOGI is always seeking new
opportunities in the petroleum industry and will look to develop
economic growth in the areas it works. As WOGI enters into a
market, it will seek to help bring jobs within its foot print.
World Oil Group's vision is to grow exponentially
with the Petroleum Industries using "The Sustainable Oil & Gas
Fields" concepts and applications for E&P & EOR, and Energy
Trading in the USA and around the world.
The foregoing press announcement contains forward-looking
statements that can be identified by such terminology such as
"believes," "expects," "potential," "plans," "suggests," "may,"
"should," "could," "intends," or similar expressions. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results
to be materially different from any future results, performance or
achievements expressed or implied by such statements. In
particular, management's expectations could be affected by, among
other things, uncertainties relating to our success in completing
acquisitions, financing our operations, entering into strategic
partnerships, engaging management and other matters disclosed by us
in our public filings from time to time. Forward-looking statements
speak only as to the date they are made. The Company does not
undertake to update forward-looking statements to reflect
circumstances or events that occur after the date the
forward-looking statements are made.
For more information contact:
CONTACT:
Nathan Hall, President CEO
World Oil Group, Inc.
Ph. 407-777-9228
info@epapetroleum.com
www.WorldOilGroup.com
Twitter.com/epapetroleum
Facebook.com/epapetroleum
SOURCE: World Oil Group, Inc.