CALGARY, AB / ACCESSWIRE / February 2, 2015 / Strongbow Resources Inc. (OTCQB:STBR) (“Strongbow” or the “Company”) is a junior oil and gas production, development and exploration company with properties in Western Canada. It current owns 100% working interest on eight sections (5120 acres) of contiguous land with one well on production, producing light sweet crude oil from the Viking formation.
With a development plan in place, Strongbows team is currently identifying a five well drill program, which will help to determine the reserves and value of its current asset. Strongbow has positioned itself to build its company around projects that have less risk and low marginal costs in order to withstand today’s oil prices.
Michael Caetano, President and CEO stated “As a Viking oil and gas producer, the company has kept our operating costs down to about $25 a barrel, which still generates a net revenue of 20 to 25 dollars a barrel in todays market. Not only is this profitable, but it also creates a bigger upside for when commodity prices begin to rise.”
Strongbow is disciplined in keeping its expenses low and will continue to do so during this downturn in oil prices. It is times like this that allow the company to build a portfolio of assets that can withstand the downward pressures of commodity price volatility and take advantage of cheaper assets and services. With an abundance of assets predicted to be available in 2015 due to these market conditions, Strongbow can benefit from buying at a relative discount compared to recent years. The company is currently looking at various opportunities and working with its financers to initiate an accretive acquisition. We will continue to work diligently and update our shareholders once a successful agreement has been negotiated.
About Strongbow Resources Inc.
Strongbow Resources Inc. is a publicly-listed, emergent junior oil and gas company with oil and gas properties located in Western Canada. Strongbow is engaged in the business of seeking out, evaluating and acquiring working interests in oil and gas projects, domestically and internationally, which it plans to enhance through its technical, operational and financial efforts. Strongbow operates as Big Lake Energy Ltd. in Alberta and as Strongbow Resources Inc. in Saskatchewan. The Company’s common shares trade on the OTCQB US Exchange under the symbol STBR.
On behalf of Strongbow Resources Inc.
President and Chief Executive Officer
Strongbow Resources Inc.
SOURCE: Strongbow Resources Inc.