NEW BRAUNFELS, Texas, Oct. 5, 2011 (GLOBE NEWSWIRE) -- Baron Energy, Inc. (Pink Sheets:BROE) ("Baron" or the "Company"), an independent oil and gas company, announced today that it has acquired interest in an oil producing property located in Archer County, Texas.
Ronnie L. Steinocher, President and CEO, said, "We recently acquired a 20% working interest in an oil property in Archer County, Texas producing from the Gunsight Formation. We have also retained an option to purchase an additional 20% working interest in this property within the next six months. There appears to be production upside via a three-well workover program and production enhancement procedures within this five-well property. Baron is the operator of the property."
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.
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 filings 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.
Baron Energy, Inc. Investor Contact Brad Holmes (713) 654-4009