Category Archives: Savoy Energy Corp. SNVP

Savoy Energy Corp. (SNVP.OB) Finds Profit in its Ability to React in Any Condition

September 30, 2009

Given the current state of the energy markets, being a large company is not necessarily a good thing. Flexibility is a distinct advantage. Mid and larger energy companies tend to focus on larger properties where capital costs can be extreme, limiting the ability to adapt to changing conditions. As the book says, “small is beautiful.” In a variable market, a company that can adapt quickly is one that will be profitable.

Savoy Energy Corp., an oil and gas extraction company, works to extract and sell oil and gas primarily in the United States. The company recently signed agreements to explore for oil in Fiji.

Although the company is open to all potential properties, it is currently extracting and re-working existing wells in Gonzales, Texas. The company appears to be extremely structured in its operations with a particular focus on cost controls. Generally speaking, the company works with existing technology to bring closed wells back on-line. This process, and the way that the company approaches each well, allows it to keep costs low and cash flow moving in a positive direction. For the most part, the company has been working with smaller tracts of land, ranging in size from 82 acres to 485 acres. It also appears that the company is fairly choosy in the parcels it acquires, purchasing only those tracts it feels it can quickly and easily bring back on-line in short order.

The current state of the oil and gas markets dictates the need for flexibility and the ability to react to quickly changing conditions. In this sense, Savoy Energy is uniquely positioned. As the price of oil and gas move in an uncertain environment, the company is better positioned to react with less exposure if conditions worsen or improve. As companies in all sectors have found out, this is a particular advantage and one that can dictate success or failure. Savoy Energy Corp. has a very prudent and experienced team in place and appears to have found a plan that should keep it moving forward for some time to come regardless of conditions.

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Savoy Energy Corp. (SNVP.OB) Receives $10 Million in Funding

September 22, 2009

Savoy Energy Corp. is an independent oil and gas company building a portfolio of valuable oil and gas assets in the United States. The company’s strategy is to meticulously identify abandoned oil and gas assets, which are then brought online through modern well technology involving recompletion and work-over activities.

The target market for Savoy Energy is rather large. The company is looking to extract “left-behind” oil in abandoned wells across the United States. According to the US Department of Energy, nearly 2 out of every 3 barrels of oil has been “left behind” in over 500,000 wells across the United States, amounting to a staggering 200 billion barrels of oil.

The company announced a couple weeks ago that it had finalized an agreement with Tangiers Investors LP for a $10 million equity line of credit. The financing will commence after Savoy’s company audits have been completed and within 30 days after the definitive financing documents are executed.

This financing is key to the company’s future. In order to grow and be able to obtain leases on abandoned oil properties, the company needs access to ready capital. An estimate from small cap research firm Grass Roots Research and Distribution Inc. said that the company would experience significant top-line growth – revenue of $1.1 million in 2009, rising to $8.6 million in 2013 – if the company received a capital injection of at least $2 million.

Art Bertagnolli, CEO of Savoy Energy, confirmed the importance of the financing from Tangiers Investors by stating, “We are pleased to have established this line of credit. This financing will assist our company as we move forward with our recompletion programs, as well as our plans for future growth and expansion.”

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Savoy Energy Corp. (SNVP.OB) Sees Increasing Returns, Reduced Costs

September 16, 2009

Savoy Energy Corp., an independent oil and gas company specializing in the turnaround of abandoned wells, is in a rather unique position within the industry. While many oil and gas companies depend upon searching for and discovering new wells, still a largely speculative process in spite of all the technologies now being applied, Savoy goes after existing wells. These are wells that still have oil, but which were abandoned earlier because previously available technologies and processes were simply not able to economically extract the remaining stock. Using innovative approaches, Savoy is able to tap into those remaining resources, bringing the wells back online.

Savoy is currently producing oil from four wells, with another 18 being evaluated. This is expected to increase significantly over the next few years. However, the company is very careful in identifying and evaluating well candidates, a move that greatly reduces the risks for the company and its investors.

Most people are unaware that nearly two thirds of all the oil discovered in the U.S., a whopping 200 billion barrels, remains trapped underground after conventional recovery operations. Many old wells in the Los Angeles area, for example, were originally shut down after less than ¼ of the oil was taken out. There are an estimated ½ million wells containing residual oil. Large oil companies, with high overhead, are quick to turn their back on low producing wells. Savoy’s low overhead allows profitability at very low production rates. In addition, the company continues to increase efficiency.

This unique approach, coupled with an anticipated rise in oil and gas prices as the economy recovers, paint a bright future for Savoy. It is expected that the company will go from 4 wells to 24 operating wells by 2013, producing over 100,000 barrels and generating projected revenues of $9.6 million. Gross margins, already at 54.7%, are expected to reach over 58% by 2013, with net margins remaining attractive.

The key factors supporting Savoy’s prospects are:

• Ability to economically extract leftover oil
• Increasing oil and gas prices
• Small overhead costs compared to other companies and other approaches
• Continued push for U.S. oil independence
• Strong industry contacts
• Overall advanced technologies and managerial experience

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Savoy Energy Corp. (SNVP.OB) Finds a Profitable Niche in the Oil Industry

September 11, 2009

Savoy Energy Corp. currently performs recompletion and workover activities on wells in Texas. The company identifies and acquires abandoned oil and gas assets and brings them back into production using effective, low-cost methods.

The company is focused on recovering oil in wells that has been “left behind.” There are many such oil fields all over the United States which have been closed with oil trapped inside as it was uneconomical to extract further oil from the well at the time. Such activities should be profitable for Savoy Energy, a company with low overhead, an efficient cost structure and effective technologies to extract the oil.

Oil that has been left behind represents a large opportunity for Savoy Energy. Nearly two out of every three barrels of oil discovered in the United States remains trapped underground after conventional recovery operations. According to the US Department of Energy, there are approximately 200 billion barrels of oil still trapped underground – a truly staggering amount.

The company already holds leases on and is producing oil from four wells. Savoy is looking for more opportunities across the US and has identified another 18 wells that the company believes are favorable candidates for recompletion or work-over activities. With the price of oil regaining strength, Savoy Energy is in the right place at the right time.

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Savoy Energy Corp. (SNVP.OB) Announces $10 Million in Funding

September 9, 2009

Savoy Energy Corporation announced this morning that it has finalized an agreement with Tangiers Investors, LP for a $10 Million equity line of credit.

“We are pleased to have established this line of credit. This financing will assist our company as we move forward with our recompletion programs, as well as our plans for future growth and expansion,” commented Art Bertagnolli, CEO of Savoy Energy Corporation.

According to the press release, the financing will initiate after the company’s audits have been completed and within 30 days after the definitive financing documents have been executed.

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Savoy Energy Corp. (SNVP.OB) Brings Old Sources Back Online

September 4, 2009

Savoy Energy Corporation, an independent oil and gas company based in Texas, specializes in what is called “recompletion” and “workover” activities. What this means is that the company is very good at identifying and acquiring abandoned oil and gas wells that still have a lot to give, and bringing them back into production using advanced processing technologies and careful management. Savoy is known for its ability to economically extract significant remaining product from abandoned wells.

Savoy is already producing oil from four wells, and has identified 18 other U.S. wells that are favorable candidates for turnaround. In addition, the company recently announced plans to create a joint venture in the South Pacific island of Fiji to license properties there for oil exploration and drilling.

As long term fossil fuel prices continue to rise, the demand for more production from previously producing wells is expected to increase. According to the U.S. Department of Energy, fossil fuels, which include coal, oil, and natural gas, still make up more than 85% of all energy consumed in the U.S., with oil accounting for 40% of energy use.

New technology now allows up to 50% of oil in wells to be drained before the well is capped, considerably more than old technologies. Many wells in the Los Angeles area were shut down after only 25% or less of the oil being extracted. These old fields are now being tapped, with other previously ignored wells now being re-evaluated. Wells that are up to 45 years old are being brought back online.

Savoy is very careful in evaluating wells before considering investment, and aggressively applies modern well technology and management controls. All this significantly reduces initial drilling costs and risks associated with traditional oil and gas projects. This helps ensure a much more stable financial outlook for the company and its investors.

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Savoy Energy Corp. (SNVP.OB) Issued a ‘BUY’ Rating from Grass Roots Research

September 2, 2009

Savoy Energy Corp. is a domestic, independent oil and gas company building a portfolio of oil and gas properties. Savoy Energy currently holds leases on and has oil production from four wells. Eighteen other wells (2 producing, 16 abandoned) have already been identified by the company’s meticulous evaluation process as favorable targets for recompletion or work-over activities. The company expects to acquire these properties within the next 12 months.

Nearly two out of every three barrels of oil discovered in the United States remain trapped underground after conventional recovery operations. As per the US Department of Energy, this amount of oil comes to a staggering 200 billion barrels. Savoy Energy is focusing its efforts on this huge base of trapped oil.

A new research report has been issued on Savoy Energy by Grass Roots Research, Wall Street’s number one small cap research firm. The report gave Savoy Energy a ‘BUY’ recommendation and a $2.92 long term price target. Its current price is around $0.40.

The research report projects oil and gas revenues for Savoy Energy of approximately $1.1 million in 2009, with oil production of about 23,000 barrels from 4 wells. By 2013, Grass Roots Research projects oil production of nearly 115,000 barrels of oil from 24 wells which will produce revenues of approximately $9.6 million.

The Grass Roots Research report stated the following, “We expect the company to be cost efficient and margins to be healthy. We expect gross margins to improve from 54.7% in 2009 to 58.2% in 2013. Net margins are attractive.” The report also projects funding requirements of only approximately $2 million between 2009 and 2010.

In conclusion, Grass Roots Research stated, “We believe Savoy is on a fast paced growth trajectory as the demand for oil increases. The company is in the right place at the right time. We believe Savoy is a lucrative opportunity for risk adverse investors.”

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Savoy Energy Corp. (SNVP.OB) Executes Initiative to Reduce Environmental Impact and Operating Costs

August 12, 2009

Savoy Energy Corporation announced this morning that it is converting all applicable wells to operate on electricity as a source of energy to help lower maintenance costs and increase efficiency. The company commenced the conversion initiative Monday of this week to have electricity provided to those well sites.

“Electricity is cheaper as an energy source and electric motors don’t have the same maintenance issues as gas operated engines. Our Rozella Kifer well, which will soon be fitted with a jack shaft reducer, already operates on electricity. It’s our way of contributing to the protection of the environment and we intend to continue this trend with all future wells,” commented Art Bertagnolli, CEO of Savoy Energy Corporation.

Savoy Energy Corp. recently announced that its representatives and joint venture, Savoy-Masi Petroleum Corporation Limited, met with The Republic of Fiji Islands Ministry of Lands and Mineral Resources’ Netani Sukanaivalu. Topics discussed included stimulating Fiji’s economy through Oil exploration licenses, recompletion, and work-over activities of previously drilled wells.

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Savoy Energy Corporation (SNVP.OB) Receives Coverage from Standard & Poor’s

August 4, 2009

Standard & Poor’s (S&P) announced this morning that it has commenced Factual Stock Report coverage on Savoy Energy Corporation. The stock report provides factual research coverage to a wide investor audience of Buy and Sell-side investors, helping them understand Savoy’s fundamentals and business prospects.

Savoy Energy Corp. focuses its business operations on performing recompletion and workover activities on wells in Texas. The company re-enters, recompletes, extracts oil from, and sells oil from previously drilled wells in the United States. Currently, it holds leases on and is producing oil from four wells: Ali-O No.1, Rozella Kifer, Zavadil No.1, and Wright, all located in the state of Texas. Savoy plans to continue its workover efforts on these wells, and desires to duplicate its efforts with other wells.

With the assistance of a petroleum consulting firm, Savoy plans to locate and evaluate a number of abandoned oil wells. In addition to its four wells, the company has also identified 18 other wells, including two that are producing and 16 that have been shut in but have seismic or other data indicating that they are viable candidates for recompletion or workover.

Currently profiling more than 1,000 issuers, S&P Factual Stock Reports increase market awareness in the investment community with insightful commentary and crucial information. Their reports are accessible on an ongoing basis to the investment community, including scores of buy-side institutions and sell-side firms that utilize S&P research and information platforms daily. Millions of independent retail investors also have access to the report via their e-brokerage accounts.

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Savoy Energy Corp. (SNVP.OB) to Upgrade Rozella Kifer Well’s Technology for Increase in Efficiency and Decrease in Costs

July 31, 2009

Yesterday after the closing bell, Savoy Energy Corp. announced that in the near future the company intends to upgrade the technology at its Rozella Kifer Well. The company has ordered a Jack Shaft Reducer that will be installed on the well. The installation is anticipated to increase efficiency by 25% while decreasing maintenance by 23-35%. The new technology is also expected to extend the life of the well’s production.

The Rozella Kifer Well is positioned on 193 acres of land in Gonzales County, Texas. Savoy Energy’s lease has no expiration date as long as the company conducts operations without termination for more than 120 days. It has been estimated that oil reserves for the well are 19,730 Mbbl while the gas reserves are estimated at 3,090 MMcf.

“We are continuously keeping our eye on the bottom line. With today’s technology, we can decrease costs associated with pulling oil out of the ground while increasing profits and in turn, shareholder value,” stated Art Bertagnolli, CEO of Savoy Energy Corp.

Savoy Energy Corporation also reminded investors that its representatives and its joint venture, Savoy-Masi Petroleum Corporation Limited, recently met with The Republic of Fiji Islands Ministry of Lands and Mineral Resources’ Netani Sukanaivalu. Topics discussed included stimulating Fiji’s economy through Oil exploration licenses, recompletion, and work-over activities of previously drilled wells.

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Savoy Energy Corp.’s (SNVP.OB) Recent Board Member Additions

July 30, 2009

Savoy Energy Corporation, an independent oil and gas company based in Houston, recently announced three new appointments to its Board of Directors. All have extensive experience in their individual fields, and are scheduled to fill the positions until the next regularly scheduled shareholder meeting, at which time they can be voted on by voting shareholders.

• William F. Howell has 47 years of oil and gas experience, both onshore and offshore, and has worked as a geologist in Oklahoma, Texas, the Gulf of Mexico, and overseas in Libya. He began his career as an exploration geologist at Continental Oil Company for 13 years, followed by 6 years as Gulf Coast Exploration Manager for Mesa Petroleum where he originated prospects and organized a bidding group for the Gulf of Mexico Shelf Exploration. He founded Paragon Petroleum in 1978, where he still serves, and was also Exploration VP for Roberts Oil & Gas until 1988. From 1989 to 2000, he was Sr. Exploration Advisor for Hardy Oil & Gas, and also participated in its transition to Mariner Energy. He continues today to serve as President of Paragon Petroleum.

• Raymond A. Crabbe has had 35 years of experience, with extensive work in the areas of pipeline, chemical, petrochemical, and refining, including offshore work. His domestic and international career covers all 50 states, along with South America, Russia, Asia, Indonesia, Canada, Africa, the Middle East, and the Virgin Islands. His expertise includes a range of oil and gas gathering, pipeline, storage, transmission, and loading facilities development. He has worked for Chevron and STV Inc., and currently works for Mustang Engineering. He has a BS degree in Construction Management, with an MBA in Management.

• Charles J. Jacobus has 36 years as an accomplished real estate attorney and publisher, and maintains a law office and affiliation with many real estate associations relating to commercial and residential real estate law in Texas. He has published numerous books focused on Texas, as well as Georgia and Ohio real estate law, co-authoring many of them. He holds a State Bar of Texas license, and a Texas Real Estate Broker license. He received his Doctor of Jurisprudence from the University of Houston, and has an AV Rating from Martindale-Hubbell.

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Savoy Energy Corp. (SNVP.OB) Answers Questions about Eagleford Shale Formation

July 28, 2009

Savoy Energy Corporation, the Texas-based oil and gas company focused on bringing old well sites back to life, is actively working the Texas Cretaceous Trend, the largest single pool field in Texas. The company has a special interest in the Eagleford Shale Formation, which has a history of long-producing wells, and holds a number of properties in the Gonzales County area of southern Texas. Savoy feels it can pull from 5,000 to as much as 140,000 barrels from a single vertical well.

In response to investor inquiries, Savoy has addressed the most frequently asked questions regarding their plans for Eagleford.

• Will the production be oil or gas?
In most cases, production will be oil, primarily above the 11,000 foot level.

• What is oil quality in the area?
Oil quality in Savoy’s area of interest varies from heavy to very desirable high-gravity crude.

• How much oil can be recovered from the initial target area?
Hundreds of millions of barrels are in place. Identifying the “sweet spots” for exploitation is key in determining what can actually be recovered. Savoy plans to start in areas of known tests or where high-quality oil shows.

• How much production can be expected from a good horizontal well at Eagleford?
Based upon the production profile of the best vertical Eagleford well, 300-400 BOPD (barrels of oil per day) can be expected, and possibly above 75 BOPD for an extended period of 5-8 years. A dual lateral well in the basal Eagleford may well recover 400,000 barrels of oil. The idea is to explore with vertical and exploit with horizontal. The sweet spots can be identified with vertical wells before taking on the higher costs associated with horizontal wells.

• Why are Savoy’s properties in Gonzales County considered prime for tapping the Eagleford?
The Savoy/Louis Zavadil #1 actually flowed 35 BOPD on test from the Eagleford back in 1978 before being plugged in search of higher deliverability. The well is also in close proximity to an Eagleford well that produced 142 MBO as a vertical completion.

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Savoy Energy Corp. (SNVP.OB) Lays Out the Details

July 23, 2009

Savoy Energy Corp., a Houston based oil and gas company currently focused on the reworking of existing Texas wells, has detailed their plans covering their acquired wells in Gonzales County, Texas, between San Antonio and Houston. Since oil and gas recovery always involves a certain amount of risk in achieving the desired production rates and final recovery goals, even in existing and proven wells, the information is especially useful and welcome to investors who have helped fund the company’s operations.

Savoy laid out a wide range of technical specifics regarding the wells, their potential, and the company’s operational plans.

• Initial wells will be completed in the Austin Chalk trend, a formation known for long-lived wells.
• The wells are shut-in or plugged wells, approximately 7,000 to 8,000 deep, all with casings and a previous production history, and all considered low to medium risk.
• Plugged wells will be drilled out, shut-in wells will be cleaned out and reconditioned, with wells being acidized if necessary.
• Pumping units, tanks, heater treaters, rods, and tubing will be installed as needed, and wells will be connected to tank batteries.
• Reconditioning should be completed within 3-4 months, with equipment installation expected to take another 1-3 months, and with some wells being completed early.
• Expected initial production will be in the 150 BOPD (barrels of oil per day) range, though potentially higher or lower, with the historic long life of the Austin Chalk trend wells being a major consideration.
• Savoy will use an independent purchaser to sell the oil, with the oil generally being marketed to a major refinery or pipeline.
• The current average oil price in the area is $50 per bbl.
• The company will continue to expand into other promising areas, including outside of Texas.

The overall process will involve the application of modern well technology and stringent management controls against these carefully selected sites. By evaluating and choosing existing wells carefully, and reworking them aggressively, the risks associated with traditional exploration projects is removed, minimizing the high overhead normally associated with oil and gas operations. The result is an increased asset base and cash flow.

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Savoy Energy Corp. (SNVP.OB) to Form Joint Venture to Capitalize on Fiji’s Oil Reserves

July 21, 2009

Savoy Energy Corp. is an independent oil and gas company seeking growth through a diversified portfolio of valuable oil and gas assets. The company recently announced it is in negotiations with Masi Corp. Holdings Ltd to finalize an oil exploration joint venture. The completed joint venture will result in the Savoy-Masi Petroleum Corp. Ltd. entity, which will license properties in Fiji for oil exploration, recompletion and work-over activities.

Savoy is approaching the Fiji market because of rising oil costs and the opportunity for company shareholders.

“In the early 80s, a lot of the big oil companies were drilling for oil in Fiji before the price per barrel dropped. As a result of their activity, a significant amount of data was accumulated, including seismic data for reefal traps and proven reserves from drilling,” Art Bertagnolli, CEO of Savoy stated in the press release. “Now with oil being above US$60 a barrel and Fiji’s proximity to China, opening up new drilling makes economic sense and will create tremendous shareholder value.”

According to The Pacific Islands Applied Geoscience Commission’s report “Fiji Petroleum Data Package,” more than 20 structural reefal traps lay on the seismic lines in the Late Miocene and Pliocene sequences, mostly in Bligh Water Basin. The report estimates the potential of recoverable reserves at 270 million barrels of oil (mmbo) per structure. It continued that if structural-stratigraphic trapping does occur, recoverable reserves could grow to more than 1 billion barrels of oil per structure.

This information supports the company’s move toward a joint venture to take advantage of Fiji’s reserves, and correlates with Savoy’s expansion strategy.

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Savoy Energy Corp. (SNVP.OB) Sees Big Potential in Eagleford

July 16, 2009

Savoy Energy Corporation, an oil and gas company known for the re-working of previously abandoned sites, is focusing on getting oil and gas from source rocks. The primary emphasis is in the Texas Cretaceous Trend, the largest single pool field in Texas, which has already given up over 1.2 billion barrels. The plan is to establish long-term, maintenance-light production from existing completions, providing the cash flow to then push into areas where proven resources have yet to be exploited.

Of particular interest to Savoy is the Eagleford Shale Formation in south Texas. The oil quality in the company’s focus area varies from heavy to very desirable high gravity crude. In most cases Savoy plans to pull oil from above the 11,000 foot level. The company believes it can pull from 5,000 to as much as 140,000 barrels from a single vertical well, depending upon natural fractures, with the entire initial target area holding hundreds of millions of barrels. However, identifying the best spots is key to effective recovery.

Savoy has several properties in Gonzales County, Texas, which it considers prime for tapping Eagleford resources. Their Savoy/Louis Zavadil #1 well generated up to 35 BOPD (barrels of per day) on tests back in 1978 before being plugged in search of higher deliverability. The best long-term producing Eagleford well in Gonzales County produced over 8,700 barrels per year for 9 years, plus an average of 5,378 barrels per year for another 5 years. This shows a decline that is relatively slow, suggesting significant opportunity for profitable long-term development.

Savoy isn’t the only company that sees potential in the Eagleford. Apache Corporation (NYSE: APA) has begun fairly widespread production there and is now producing approximately 200 BOPD from the Eagleford since commencing operations in December, 2007.

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Savoy Energy Corp. (SNVP.OB) Announces Meeting with Minister of Lands & Mineral Resources

July 9, 2009

Savoy Energy Corporation announced this morning that its representatives and its joint venture, Savoy-Masi Petroleum Corporation Limited, met with The Republic of Fiji Islands Ministry of Lands & Mineral Resources’ Netani Sukanaivalu. Topics discussed included stimulating Fiji’s economy through Oil exploration licenses, recompletion, and work-over activities of previously drilled wells.

According to the press release, Fiji Islands Trade and Investment Bureau granted Savoy-Masi Petroleum a Foreign Investment Registration Certificate (FIRC) number 09-0081 issued under the provisions of the Foreign Investment Act 1999 and the Foreign Investment (Amendment) Act 2004 to commence Oil and Gas Exploration.

“We are very pleased how professional, courteous, and efficient the Fiji government has been in working with us to accomplish our goals,” commented Art Bertagnolli, CEO of Savoy Energy Corporation. “The Minister of Lands & Mineral Resources, Netani Sukanaivalu, is a respected and intelligent business man, who’s focused on helping Fiji and its people.”

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Savoy Energy Corp. (SNVP.OB) Adds New Board Members Retaining International Oil Exploration Experience

July 8, 2009

Today, Savoy Energy Corp. announced that on June 25, 2009 the Board of Directors of the company appointed Mr. William F. Howell, Mr. Raymond A. Crabbe, and Mr. Charles J. Jacobus to the Board of Directors. All three will remain in their newly appointed positions until the next regularly scheduled shareholder meeting at which time they may stand for re-election.

Mr. William Howell’s oil and gas experience spans nearly 50 years, both onshore and offshore. He has worked as a geologist domestically in Oklahoma, Texas and the Gulf of Mexico as well as internationally in Libya. Mr. Howell’s previous experience includes 13 years (1955 – 1968) as an exploration geologist at Continental Oil Company, 6 years (1968 – 1974) as Gulf Coast Exploration Manager for Mesa Petroleum, originating prospects and organizing a bidding group for participation in the Gulf of Mexico Shelf Exploration when he founded Paragon Petroleum, Inc., serving as Exploration Vice President for Roberts Oil and Gas, and serving as a Senior Exploration Advisor to Hardy Oil & Gas.

Mr. Raymond Crabbe retains more than thirty-five years of extensive knowledge and experience in the oil and gas industry. This experience includes pipeline, chemical, petrochemical, refining and offshore. Mr. Crabbe has both domestic and international expertise in oil and gas gathering, pipeline, storage, transmission and loading facilities. His domestic experience covers all fifty of the United States and his international experience includes South America, Russia, Asia, Middle East, Indonesia, Canada, Africa and the Virgin Islands. Most recently, Mr. Crabbe has been employed by Chevron (2005 – 2006); STV Inc. in 2007; and Mustang Engineering from 2007 to present. Mr. Crabbe has never served on the board of a publicly traded company.

Since 1973, Mr. Charles Jacobus has been an accomplished real estate attorney and publisher. Receiving his Bachelor of Science from the University of Houston and Doctor of Jurisprudence from the University of Houston, he has a sole practice law office and maintains affiliations with many real estate associations as they pertain to commercial and residential real estate law in the State of Texas. Mr. Jacobus has also published numerous books focused on Georgia, Ohio and Texas Real Estate Law, co-authoring many of them.

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Savoy Energy Corp. (SNVP.OB) Selects PricewaterhouseCoopers to Audit New Fiji Joint Venture

July 7, 2009

Savoy Energy Corp., an independent oil and gas company building a diversified portfolio of valuable oil and gas assets, announced today that PricewaterhouseCoopers has been hired to audit its Fiji Joint Venture, Savoy-Masi Petroleum Corporation.

“We hired PricewaterhouseCoopers because of their well known international reputation and integrity as accountants and auditors,” commented Art Bertagnolli, CEO of Savoy Energy Corporation. “It will instill confidence in our shareholders that our numbers and production will always be correct,” continues Mr. Bertagnolli.

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Savoy Energy Corp. (SNVP.OB) Record Volume Alert!

July 6, 2009

Savoy Energy Corp. (SNVP.OB) has already broken its previous record volume of 432,000 traded shares and it’s only noon! So far, today’s volume is more than 700% greater than the average daily volume of 78,235 traded shares.

Earlier this morning, Savoy Energy Corporation announced that its representatives met with representatives of Masi Corp Holdings Limited to complete an Oil Exploration Joint Venture (JV). The JV, Savoy-Masi Petroleum Corporation Limited, is focused on licensing properties in Fiji for Oil Exploration, recompletion, and work-over activities.

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Savoy Energy Corp. (SNVP.OB) Announces Completion of Joint Venture for Fiji Oil Exploration

Savoy Energy Corporation announced this morning that its representatives met with representatives of Masi Corp Holdings Limited to complete an Oil Exploration Joint Venture (JV). The signing of a Letter of Intent (LOI) concerning the JV was announced earlier last month. The JV, Savoy-Masi Petroleum Corporation Limited, is focused on licensing properties in Fiji for Oil Exploration, recompletion, and work-over activities.

Art Bertagnolli, CEO of Savoy Energy Corp., stated, “In the early 80’s a lot of the big Oil companies were drilling for Oil in Fiji before the price per barrel dropped. As a result of their activity, a significant amount of data was accumulated, including seismic data for reefal traps and proven reserves from drilling. Now with Oil being above US$60 a barrel and Fiji’s proximity to China, opening up new drilling makes economic sense and will create tremendous shareholder value.”

According to the press release, the Pacific Islands Applied Geoscience Commission’s report “Fiji Petroleum Data Package” states: “Over twenty structural reefal traps have been identified on the seismic lines in the Late Miocene and Pliocene sequences, mostly in Bligh Water Basin. Estimates of potential un-risked recoverable reserves are 270 million barrels of oil (mmbo) per structure. If structural-stratigraphic trapping occurs, recoverable reserves could increase to over 1 billion barrels of oil per structure.”

Fiji lies on the same regional play trend of Miocene reefs, which produce oil in Irian Jaya, Indonesia and gas/condensate in offshore Papua New Guinea. Fiji’s basins have many similarities with the oil and gas producing, arc-related basins of Southeast Asia. An oil seep in Bligh Water Basin and oil and gas shows in wells provide evidence that hydrocarbons have been generated in the basins. The Bligh Water Basin and Bau Waters Basin both possess excellent potential for hydrocarbons.

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Savoy Energy Corp. (SNVP.OB) Appoints Three New Board of Directors

July 2, 2009

Today in an 8-K, Savoy Energy Corp. announced the appointment of William F. Howell, Raymond A. Crabbe and Charles J. Jacobus to the Board of Directors. All three will hold their positions until the company’s next scheduled shareholder meeting at which time shareholders will vote for re-election.

Mr. Howell retains nearly five decades of oil and gas experience, both onshore and offshore. His previous experience includes 13 years (1955 – 1968) as an exploration geologist at Continental Oil Company, 6 years (1968 – 1974) as Gulf Coast Exploration Manager for Mesa Petroleum, 7 years as an Exploration Vice President for Roberts Oil and Gas, and 11 years as Senior Exploration Advisor for Hardy Oil & Gas. He has also served on the Board of Directors of Roberts Oil and Gas, Inc., but no longer holds that position. Since 2000, Mr. Howell has served as the President of Paragon Petroleum, Inc.

Mr. Crabbe has also accumulated many years of experience within the oil and gas industry, including pipeline, chemical, petrochemical, refining and offshore. He has both domestic and international expertise in oil and gas gathering, pipeline, storage, transmission and loading facilities. His domestic experience covers all fifty U.S. states and his international experience includes South America, Russia, Asia, Middle East, Indonesia, Canada, Africa and the Virgin Islands. In the past five years, Mr. Crabbe has been employed by Chevron; STV Inc.; and Mustang Engineering.

For more than 25 years, Mr. Jacobus has been an accomplished real estate attorney and publisher. He has a sole practice law office and maintains affiliations with many real estate associations as they pertain to commercial and residential real estate law in the State of Texas. Mr. Jacobus has published multiple books focused on Georgia, Ohio and Texas Real Estate Law, co-authoring many of them. Receiving his Bachelor of Science from the University of Houston and Doctor of Jurisprudence from the University of Houston, Mr. Jacobus holds a State Bar of Texas license as well as a Texas Real Estate Broker license.

Let us hear your thoughts: Savoy Energy Corp. Message Board

Savoy Energy Corp. (SNVP.OB) Brings New Life to Abandoned Wells

July 1, 2009

Savoy Energy Corp., an independent oil and gas company, is building a diversified portfolio of oil and gas assets with the goal of turning around previously abandoned sites. The step-by-step process involves the aggressive application of modern well technology and stringent management controls, but only on sites that have passed a meticulous evaluation process. This approach significantly reduces the cost of initial drilling, while removing the risks associated with traditional exploration projects, thus minimizing the high overhead normally associated with oil and gas operations. The result is an increased asset base and cash flow.

The company has already taken the first steps in the process, the careful research and acquisition of sites with significant remaining oil and gas potential. They have already acquired leases on the following properties in Gonzales County, Texas, between San Antonio and Houston.

• Ali-O No. 1 – 82.660 acres
• Rozella Kifer – 193.003 acres
• Wright Leases – 485.410 acres
• Zavadil No. 1 – 45.000 acres

All of the above leases are open-ended, extending for as long as Savoy conducts operations without cessation for more than 120 days. In addition, the leases include ownership of all machinery, fixtures, equipment, tanks, well bore, casing, and all other equipment used in connection with the operation of the associated wells.

But Savoy’s plans don’t end in Texas. The company recently announced that it has signed a letter of intent with Masi Corp. Holdings Limited to create a joint venture in Fiji. The venture will create a new combined entity to license properties in Fiji for oil exploration and drilling rights. Savoy CEO Art Bertagnolli commented on the plan. “Our research has shown the island of Fiji and its structural reefal traps has a tremendous amount of oil reserves, and we’re hoping to work closely with Masi Corp in an effort to harvest those reserves in the most efficient, profitable, and responsible way possible.”

Let us hear your thoughts: Savoy Energy Corp. Message Board

Savoy Energy Corp. (SNVP.OB) is Wringing Out Much Needed Energy

June 29, 2009

Savoy Energy Corporation is an independent oil and gas company building a diversified portfolio of valuable oil and gas assets in the United States. The company is focused on identifying abandoned oil and gas assets, which are then brought online through recompletion and work-over activities.

To bring these abandoned wells online, Savoy Energy not only applies modern well technology but uses a meticulous process of evaluation and stringent management controls. This process allows the company to increase its asset base and cash flow, while significantly reducing the cost of initial drilling. This process also takes away the risk of traditional exploration projects and allows Savoy to minimize the high overhead costs of traditional exploration and production companies.

Savoy Energy’s small size is actually an advantage in their niche market of bringing abandoned wells online. There is no competition from larger and mid-sized companies, which are searching for large acquisitions and large drilling projects in order to be meaningful to a company of that size. To date, all of the company’s wells are located in Gonzales County, Texas.

Savoy Energy believes it has the experience and knowledge necessary to find the location of the best abandoned properties for acquisition. The company’s officers, directors, and geologists have over 100 years of combined experience in the oil and gas industry. Savoy Energy is focused on increasing shareholder value by acquiring the right properties, reducing the cost of bringing the wells back online, and getting the oil to flow.

Let us hear your thoughts: Savoy Energy Corp. Message Board

Savoy Energy Corp. (SNVP.OB) Inks LOI to Create JV for Oil Exploration

June 24, 2009

Savoy Energy Corporation announced earlier today that it has signed a Letter of Intent (LOI) with Masi Corp Holdings Limited to create a Joint Venture (JV) in Fiji. The joint venture/partnership would be designed to license properties in Fiji for Oil Exploration and drilling rights.

According to the press release, the Pacific Islands Applied Geoscience Commission’s report “Fiji Petroleum Data Package” states: “Over twenty structural reefal traps have been identified on the seismic lines in the Late Miocene and Pliocene sequences, mostly in Bligh Water Basin. Estimates of potential un-risked recoverable reserves are 270 million barrels of oil (mmbo) per structure. If structural-stratigraphic trapping occurs, recoverable reserves could increase to over 1 billion barrels of oil per structure.”

“Our research has shown the island of Fiji and its structural reefal traps has a tremendous amount of oil reserves, and we’re hoping to work closely with Masi Corp in an effort to harvest those reserves in the most efficient, profitable, and responsible way possible,” commented Art Bertagnolli, CEO of Savoy Energy Corporation.

Fiji forms part of the Southwest Pacific island arc system, which marks the boundary between the Indo-Australia and Pacific plates. The Bligh Water Basin and Bau Waters Basin both possess excellent potential for hydrocarbons. Fiji lies on the same regional play trend of Miocene reefs, which produce oil in Irian Jaya, Indonesia and gas/condensate in offshore Papua New Guinea. Fiji’s basins have many similarities with the oil and gas producing, arc-related basins of Southeast Asia. An oil seep in Bligh Water Basin and oil and gas shows in wells provide evidence that hydrocarbons have been generated in the basins.

Let us hear your thoughts: Savoy Energy Corp. Message Board

Savoy Energy Corp. (SNVP.OB) – Building a Portfolio of Oil & Gas Properties

June 22, 2009

Savoy Energy Corporation is an independent oil and gas company building a diversified portfolio of valuable oil and gas assets in the United States. The company is focused on identifying abandoned oil and gas assets, which are then brought online through recompletion and work-over activities.

Savoy Energy uses a meticulous process of evaluation, application of modern well technology, and stringent management controls when deciding if leasing a property will be a viable undertaking. This process allows the company to increase its asset base and cash flow, while significantly reducing the cost of initial drilling. This process takes away the risk of traditional exploration projects while lowering the overhead costs.

To date, Savoy Energy has acquired a portfolio of leases of oil and gas properties which are all located in Gonzales County, Texas. The company’s portfolio of oil and gas leases consists of the following four properties: Rozela Kifer (193 acres), Ali-O No.1 (83 acres), Zavadil No.1 (45 acres) and Wright (485 acres).

The leases on all of the properties are similar. Savoy’s leases on the properties extend for as long as the company conducts operations without cessation for more than 120 days. With the lease, Savoy also acquired ownership of all machinery, fixtures, equipment, tanks, well bore, casing, and all other equipment used in connection with the operation of, and production of an oil well located on the leased premises.

Let us hear your thoughts: Savoy Energy Corp. Message Board

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