Petro Resources Corporation (AMEX: PRC), an independent exploration and production company, is focused on acquiring exploratory leases, producing properties, and secondary enhanced oil recovery projects as well as exploratory drilling and production of oil and natural gas in the United States. The company’s aim is to create and maximize shareholder value by leveraging the expertise of its management team with industry partners to grow a diversified portfolio of oil and natural gas producing projects and prospects. For further information, visit the Company’s web site at www.petroresourcescorp.com.
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Petro Resources Corporation is an independent oil and natural gas company whose business is the acquisition, drilling and production of oil and natural gas properties and prospective properties in the United States. The company does not directly manage the exploration or development operations, but instead seeks to acquire joint ownership in oil and natural gas properties with other companies that have exploration, development, production and operational expertise.
The company’s strategy is to leverage the knowledge and expertise of its partners with regard to specific oil and natural gas projects, and add to that the energy, knowledge and experience of its management team, so to rapidly grow its diversified portfolio of oil and natural gas producing properties. It plans to generate a balanced portfolio of petroleum producing properties by participating in onshore and offshore oil and natural gas projects.
The company targets low-to-medium risk projects that provide significant reserve, production and cash flow growth. These projects are generally located in North Dakota, Texas, offshore Gulf of Mexico, Louisiana, and New Mexico and Utah.
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