Supernova Energy Inc. Has Completed the Transfer of Operations and Increased Ownership on Multiple Oil and Gas Leases in Kansas
ROCKVILLE CENTER, NY - (NewMediaWire) - November 12, 2015 - Supernova Energy Inc. (
- Anderson lease - 8.375% working interest and lease operations.
- Dannebohm lease - 72% working interest and lease operations.
- Sanders lease - 30% working interest and lease operations.
- Harrel D, Thompson, Keyes A, Keyes B, Larrison #2 Mason leases - 30% working interest and lease operations.
- Asmussen lease - 27% working interest and lease operations.
As a result of this agreement, Supernova increased the working interest ownership on the following leases:
Barton County, KS - Anderson lease, to 8.375% working interest (WI) and the Dannebohm lease, to 95% working interest (WI).
Stafford County, KS - Sanders lease, to 65% working interest (WI).
Butler County - Asmussen lease, to 39.5% working interest (WI).
Pratty County, KS - Harrel D, Larrison #2, Mason #2, Keyes A, Keys B, Thompson leases, to 100% working interest (WI).
Currently, the Anderson oil lease is the only producing property; the Company plans to bring the Dannebohm and Asmussen back into production shortly. The Dannebohm lease is the Company's first priority and work has already begun. Supernova will assess all other oil assets for the most cost effective way to bring production back online.
Kevin Malone, CEO of Supernova, states: "This settlement agreement is an important start to increasing oil production in the state of Kansas. The transfer of operations is the key to properly assessing the leases and lowering the cost of production. With approximately 1300 acres under lease in Kansas our focus will be to determine new drill sites and identify wells that can be reworked and brought back into production quickly with low costs."
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 avoid risk by using new technologies on shallow oil wells to increase production on existing oil producing leases. For more information investor can visit www.supernovaenergyinc.com
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