HOUSTON, TX–(Marketwired – December 28, 2016) – Petrogas Company, Inc. (OTC PINK: PTCO) (“Petrogas Company” or “the Company”), today announced that it has acquired a fractional interest in four wells located in Dewey County, Oklahoma. Two of the wells are currently producing commercial quantities of oil and gas and are operated by Vanguard of Houston and Lighthouse Oil and Gas.
“We plan to continue making acquisitions in the sector as we believe oil prices could continue going up through 2017 based on the data we are seeing,” commented Mr. Huang, CEO of Petrogas Company. “Through the first two weeks of November, upstream oil and gas deal-making hit $56.7 billion, compared with $26.8 billion seen in the same period last year. Also, the US rig count jumped by 13 to 523 this week, according to oilfield-services company Baker Hughes which represents 8 weeks of consecutive rise.”
About Petrogas Company, Inc.
Petrogas Company, Inc. is an oil and gas exploration and production company focused on the acquisition of properties in areas with significant oil reserves and drilling potential. The Company’s growth strategy includes the acquisition of oil fields from distressed third parties at a substantial discount to value, and development of fields whose potential has not been fully maximized. For more information investors can visit www.petrogas-company.com.