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After the market
closed on Wednesday, May 7th
Toro Ventures, Inc. (OTCBB: TORO) has moved from
an exploration-based company to a producing
and
company, and the company should have
the attention of investors and traders this morning. Yesterday after the
markets closed, the company issued a press release announcing that the rework
program on the Crown Lease #1 is complete.
This should be a great addition for the company, as the press release states
that the company was able to complete all the rework operations on the Crown #1
as of May 2, 2008. This well should be online and producing within days. The
Crown #3 will be fully complete and online this week as well.
Frederick Graham, President and CEO of Toro, stated that, "This is another major
leap forward for Toro. The rework program has been completed on our first lease.
This week we plan on putting both wells online and updating shareholders with
our initial production numbers. The timeframe with which Toro has been able
to go from an exploration-based company to now a producing company demonstrates
the Company's ability to meet project milestones.
Nitro Petroleum, Inc., operator of the Crown leases, has stated they are
"extremely excited to be working with Toro on this first rework program on the
Crown Lease. Working with Toro has been a pleasure and as soon as possible Toro
will update shareholders on Production Numbers. Also, we are very eager to move
to our next larger project with Toro, the drilling of the Quinlan #3 well. The
Quinlan Leases have a potential for a further 20 wells. Initial production
numbers from the Quinlan #1 were 334 Barrels of Oil a Day and the #2 Initial
production was 298 Barrels of Oil per day so we are all eager and excited to be
moving onto this very productive lease.
Investors are urged to monitor the progress of the company! |
Must Read News!
04/04/08::
TORO VENTURES INC.
Files SEC form 8-K, Entry into a Material Definitive Agreement, Financial
Statements and Exhibits
04/04/08:: Toro Ventures, Inc.
Closes Its Previously Announced $500,000 Private Placement;
Proceeds Will Complete the Crown Lease; Toro Can Now Complete
Steps Leading to Oil and Gas
Production
04/02/08:: Toro Ventures, Inc.
Executes Turnkey Agreement on the Crown Oil and Gas Lease; Work
Program on Lease Commencing
Immediately
03/26/08:: Toro Ventures, Inc.
Signs Letter of Intent on the Quinlan #3 Oil and Gas Lease in
Pottowatomie County, Oklahoma; This Is the Second LOI Toro
Ventures Has Signed in the Last 30
Days
03/11/08:: Toro Ventures, Inc.
(OTCBB: TORO) Announces Details of Proposed Private
Placement
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Sky-high energy prices and their up
trends reveal that
 and  stocks will outperform every
other stock market segment for the next several years. A recent
Goldman-Sachs report states Super spike period may be upon us: Sector
Attractive. We believe oil markets may have entered the early stages of
a super spike period, which we now think can drive oil prices toward and
over the $100/bbl. (*obviously this analyst was correct, as
is now
over $120/bbl) We see as much as 80% upside to the Super Spike Peak
values and reiterate our attractive coverage view .
The timing could not be better for the investor in Toro. Crude
is at
an all time high...and will continue to climb. The Oklahoma Crown
 lease is a perfect example of exploiting those hard-to-get pockets
and mature fields that suddenly have lower-hanging fruit. look At the
same time, new drilling technologies make it easier and less expensive
to get this profit making product out of the ground. Small, fast and
agile wildcat companies like Toro and Nitro have already sewn up
thousands of prime acres of highly productive land in Oklahoma. |
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prices are at high
levels due to increased world energy demands and supply
shortfalls.
Frederick Graham, President and CEO of Toro, has stated that,
Toro's objective is to develop opportunities in the
and natural sectors that represent lower than industry
average risk. As well, Toro aims to define larger projects that
can be developed with Joint Venture partners. Toro is confident
that these opportunities exist in a sector that holds long-term
fundamental strength. By doing so Toro intends to continuing
building
and natural reserves thereby increasing capital appreciation
to TORO shareholders.Toro
announces that it has entered into a LOI with Nitro Petroleum to drill in
Oklahoma s famed Shawnee Field!
The Turnkey agreement provides that Toro has acquired a 60% working interest
in the Crown
leases in
Pottowatomie County, Oklahoma. In consideration of the 60% working interest in
the Crown
leases, Toro Ventures
Inc. made a payment of $250,000 to Nitro Petroleum, Inc.
Toro Ventures, Inc. Signs Letter of Intent on the Quinlan #3
and
Lease in Pottowatomie County, Oklahoma; This Is the
Second LOI Toro Ventures Has Signed in the Last 30 Days
Toro Ventures announced that the company has entered into its
second letter of intent with Nitro Petroleum, Inc. The eventual
Turnkey agreement will provide that Toro acquires a 60% working
interest in the Quinlan #3
lease. Toro
Ventures, Inc. previously signed a LOI on the Crown Lease in
Oklahoma with Nitro Petroleum.
The Quinlan Lease is located in the Hunton Limestone formation
and this is considered to be one of the best producing formations
in Oklahoma. The region has produced in excess of 5.8
barrels of
to date with value of over 626
USD.
Frederick Graham, President and CEO of Toro, has stated that,
"The Company has an immediate opportunity to acquire producing
leases and further drilling opportunities within North America.
With plans for both the Quinlan lease and the Crown lease to be
soon added to the Company's
portfolio, the
company will be able to take advantage of strong market prices
for
and and generate cash flow to
develop further reserves and production
capabilities." |
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Toro Ventures Incorporated is a
publicly traded growth orientated
and exploration
company. Their objective is to seek out and define opportunities
that represent a low risk opportunity to develop positive cash
flow. As well, they aim to define larger projects that can be
developed with Joint Venture partners or be entered into by a
Joint Venture.
To build near-term shareholder value, Toro Ventures strategy is
to seek opportunities where discoveries can be appraised rapidly,
and developments can be advanced by accessing existing
infrastructure, while further benefiting from the extensive
experience of established operators.
In 2005 the U.S. was the world’s third-largest producer
of
, ahead Of Iran, Kuwait and many
other countries that are considered major producers. We also have
the world’s sixth largest reserves of natural
– an
estimated 193 trillion cubic feet! The problem is that so much of
the
and under our feet is difficult to get at. When
was $20 a barrel and natural
was less than $2
per 1,000 cubic feet, there wasn’t much sense in going
after it, even when we knew exactly where it was. But all of that
has changed. With natural gas as high as $10 per 1,000 cubic feet
– and hitting $85
a barrel on its way up to $95 and even higher! – those
hard-to-get pockets and mature fields are suddenly looking pretty
good. At the same time, new drilling technologies are making it
easier and less expensive than ever to both find these hidden
treasures and get them out of the ground – all while doing
minimal damage to the environment. |
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Toro Ventures Incorporated has
just recently entered into a LOI in the State of Oklahoma.
read more
Oklahoma Quick
Facts
 Oklahoma is one of the top
natural
-producing States in the Nation.
More than a dozen of the 100
largest natural fields in the country are found in Oklahoma.
Oklahoma has five petroleum
refineries with a combined capacity of roughly 3% of the total
U.S. distillation capacity.
Cushing, Oklahoma, is the
designated delivery point for NYMEX crude
futures
contracts.
The Oklahoma State Legislature created the Commission on
Marginally Producing
Wells in 1992 to keep State production decline to a
minimum. |
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