ROCKVILLE CENTER, NY, April 11, 2018 (GLOBE NEWSWIRE) -- Supernova Energy, Inc. (OTC PINK: SPRN) ("Supernova" or the "Company"), an American based oil and gas production and exploration company, is pursuing expansion of oil and gas assets in Kentucky.
Supernova Energy, Inc. currently holds a 50% working interest (WI) on the Monroe, 500 acre oil producing lease and has entered into negotiations for a farm-out agreement to have several wells drilled on the lease. The Company is actively looking to increase acreage under lease and has been presented numerous options for both producing and non-producing leases.
“We have strong ties to Kentucky and have built a great working relationship with our operator,” states Kevin Malone, CEO of Supernova. Kevin continues, “We feel this makes Kentucky an ideal location for expansion.”
About the Monroe Lease:
The Monroe Lease has two producing wells approximately 1200 feet deep. Both wells are producing from the Knox formation. A geology report was commissioned, and a drill grid has been outlined for future exploration.
About Kentucky:
Kentucky has a long and successful history of oil production. Currently the Kentucky Geology Survey (KGS) lists over 12,000 producing oil wells and over 15,000 gas wells with total production of 2.85 MMbo and 192.1 bcf for 2015. Kentucky has multiple pay zones including Sunnybrook, Stones River, Murfreesboro and Knox.
For more information - http://www.uky.edu/KGS/education/oilgas.pdf
About Supernova Energy, Inc.
Supernova Energy Inc. is an American based oil and gas production and exploration company with key holdings in Kansas and Kentucky. The Company's goal is to acquire economical leases in known oil and gas formations with low cost of recovery. The strategy is to specialize in well bore completion, re-completion and workovers on existing oil and gas production.
For more information investors can visit www.supernovaenergyinc.com
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The foregoing contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. We intend for these forward-looking statements to be covered by the safe harbor provisions of the federal securities laws relating to forward-looking statements. This release contains forward-looking statements that reflect Supernova Energy INC., plans and expectations. In this press release and related comments by Company management, words like "expect," "anticipate," "estimate," "goal" and similar expressions are used to identify forward-looking statements, representing management's current judgment and expectations about possible future events. Management believes these forward-looking statements and the judgments upon which they are based to be reasonable, but they are not guarantees of future performance and involve numerous known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance, achievements or financial position to be materially different from any expressed or implied by these forward-looking statements. Important factors that could cause actual results to differ materially from the forward-looking statements are set forth in our quarterly and annual reports. Other information can be obtained at www.supernovaenergyinc.com