IRVINE, Calif., April 22, 2010 (GLOBE NEWSWIRE) -- SectorWatch.biz announces the availability of a commentary of interest to investors in Grid Petroleum (OTCBB:GRPR) and other oil & gas-related equities making news and driving markets today. Investors can view our free commentaries at: www.SectorWatch.biz – in association with BoardMark.com, a dynamic social networking site for investors.
Enthusiasm and support for natural gas is driving a chorus of analysts, clean energy advocates and Washington insiders toward adopting policies that would make natural gas our top energy source. Fanning the flames of this fervor is none other than legendary Texas Oil Tycoon, T. Boone Pickens. Pickens feels so strongly that he is staking his future on it by personally launching a revolutionary plan to reduce America's dependence on foreign oil, replacing that dependence with natural gas and other clean energy sources.
This is great news for companies with valuable natural gas assets such as Grid Petroleum Corporation (OTCBB:GRPR). Grid recently announced its acquisition of assets in the SE Jonah Field, an area of premium natural gas reserves within the Greater Green River Basin of Wyoming.
Regarded as one of the foremost gas fields in the Rocky Mountains, the Green River Basin area contains approximately 26 TCF (Trillion Cubic Feet) of natural gas, with the Jonah Field estimated to contain 7 to 10 TCF according to the Wyoming State Geological Survey. The Jonah Field currently produces from in excess of 500 wells. This well-defined region also fits Grid's model of low-risk, high-impact exploration and development, in that the region has an incredibly high success rate for drilling and completion. It is reported that in 2006, over 3,000 wells were drilled with a success rate of almost 98%.
Schlumberger, a world leader in Oilfield Services, completed a technical evaluation of Grid Petroleum's SE Jonah Prospect that can be viewed on the company's web site: www.gridpetroleum.com
View a profile on Grid Petroleum here: http://www.stockupticks.com/profiles/4-22-10.html
Grid Petroleum Corp. is a London, UK-based Independent Oil and Gas Exploration Company with an operational office in Denver Colorado.
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