HEALDTON, Okla. , Nov. 2, 2005 (PRIMEZONE) -- Greater Sooner Exploration, Inc. (Pink Sheets:GSNH) signed a Definitive Agreement to acquire two oil leases in Carter County, Oklahoma. The leases, The Creel and The Koski, consist of 35 acres of proven oil reserves and four wells. Greater Sooner will perform minor maintenance, update some equipment and begin production of oil within 30 days. In addition, the Company will explore opportunities for offset wells at these locations.
Upon commencement of pumping, Greater Sooner estimates these leases will generate approximately 300 to 400 barrels per month, which does not include the offset wells. "Greater Sooner is excited to reach this agreement for our initial production wells," stated Paul Kinsey, CEO. "As we move forward with our business plan of acquiring valuable oil and gas properties, we will be announcing additional agreements as they are completed."
Greater Sooner Exploration, Inc. is a crude oil and natural gas exploration and production company with operations in Healdton, Oklahoma. The Company's model is to combine existing operating wells with shut-in wells with proven reserves. In addition, the Company intends to drill new offset wells of existing producing wells to maximize revenue for each location. With this three-tiered approach, management will realize cash flow with the upside potential for additional producing wells coming online after the wells are reworked.
Safe Harbor: This release and the Company's website referenced in this release contain forward-looking statements regarding Greater Sooner Holdings, Inc.'s future plans and expected performance that are based on assumptions the Company believes to be reasonable. A number of risks and uncertainties could cause actual results to differ materially from these statements, including, without limitation, the success rate of drilling efforts and the timeliness of development activities, fluctuations in oil and gas prices, and other risk factors described from time to time in the Company's reports filed with the SEC. In addition, the Company operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond the Company's control. This press release may include the opinions of Greater Sooner Holdings, Inc. and does not necessarily include the views of any other person or entity. Statements contained in this press release that are not historical facts are forward-looking statements as the term is defined in the Private Securities Litigation Reform Act of 1995. All forward-looking statements are subject to risks and uncertainties which could cause actual results to differ from the forward-looking statements contained in this release and which may affect the Company's prospects in general. Contact: