Magnum Energy and ECFL Begin a Combined Program of Drilling-Stimulated Productionadmin
Magnum Energy Inc. & ECFL – are currently engaged in drilling, acquiring, and producing oil reserves in West Texas oil fields. Geologists have confirmed multiple pay zones and have estimated reserves at over a million plus barrels in one particular location. Magnum is preparing to start a drilling program to begin the recovery process in this zone ASAP. With the current price of oil, the estimated total reserves in the ground at this one location is in excess of $50 million dollars.
Ongoing negotiations will continue for new oil leases to allow more onsite production at drilling sites. Magnum Energy is currently utilizing new and old technologies to enhance oil recovery for new production to add to their current portfolio.
CEO of Magnum Energy, Dave Alldredge says, ”This could be one of the most profitable finds in Magnum’s history. Our drilling partners are very excited to be taking on this lucrative project. The energy industry will be blown away by these new oil reserves thus fueling momentum needed for future drilling locations, and spawning an even bigger edge for our investors.”
As the merger comes to a close, ”The outlook is very positive. We want to move forward and get this merge going,” says CEO of eCarfly, Inc., Des Milligan. He also added, ”This means substantial dollars for our current and future investors. Texas is where it’s at for finding oil and the more people who know that, the better.”
”We welcome qualified investors to contact us regarding opportunities to invest in the prospects of Magnum Energy, Inc. According to our business model, the risk to return ratio is very low for the energy industry. We have committed ourselves to making sure the deals we are involved with are prudent, strategic, and in-line with the short/long term goals of our company and limit the risk for our shareholders.” stated Dave Alldredge, Magnum Energy’s CEO.
Magnum Energy Inc.
Magnum Energy, Inc. is an independent oil and gas company active in the acquisition, production, and exploration of domestic operations. The company officiates in North-Central Texas and is continuing its growth in operations, seeking additional domestic and international properties.