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Cheyenne Resources Negotiating to Secure Large Oil Property

CNN Money.com -- BAKERSFIELD, Calif., Nov. 6, 2009 (GLOBE NEWSWIRE) -- Cheyenne Resources Corp. (OTCBB:CYRS), an emerging company focusing on major exploration and production reclamation projects in the oil and gas sector, today reported that it currently is in negotiations to secure 1,000 acres of property in Abilene, Texas.

The site has reported reserves of 15.7 million barrels of oil at depths of less than 1,000 feet. There are 11 additional zones on the property with recoverable crude at depths of 500 to 4,500 feet.

"Upon successful completion of negotiations," states Cheyenne Resources President Thomas J. Cunningham, "re-work will commence immediately. Within six months, we expect production of 150 barrels of oil per day.

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Submitted Nov 07, 2009 By: liltruckman

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samIam09 Rookie Author Louisville Posts:1 Points:245 Joined:Nov 2009	Message Posted: Nov 9, 2009 11:47:58 AM Ignore samIam09 Report Abuse This company is gonna go up. Theyre making the right moves while momentum for oil independance is strong. With that much oil less than 1500ft. I wonder just how much more will "turn up" as they begin extraction ;)
RobRD Champion Author Alberta Posts:3,828 Points:896,020 Joined:Jul 2007	Message Posted: Nov 7, 2009 10:26:30 PM Ignore RobRD Report Abuse It must be an oil field that they are using newer techniques to get out the remaining oil. At 150 barrels a day, it is not a very productive field.
BEngr Champion Author Illinois Posts:1,691 Points:610,110 Joined:May 2008	Message Posted: Nov 7, 2009 2:20:32 PM Ignore BEngr Report Abuse Cheyenne Resources Corp. seems to know what they are doing and will make a good profit.
Mr.Dirt Champion Author Albany Posts:4,978 Points:1,782,365 Joined:Mar 2004	Message Posted: Nov 7, 2009 2:07:45 PM Ignore Mr.Dirt Report Abuse any oil find sounds good to me
DFleming All-Star Author Alberta Posts:500 Points:105,445 Joined:May 2008	Message Posted: Nov 7, 2009 1:59:17 PM Ignore DFleming Report Abuse It always amazes me how they find new oil fields after a crisis
craveninnj Sophomore Author New Jersey Posts:110 Points:22,700 Joined:Oct 2009	Message Posted: Nov 7, 2009 1:57:30 PM Ignore craveninnj Report Abuse sounds good to me
janctx Champion Author Lubbock Posts:2,629 Points:853,585 Joined:Nov 2007	Message Posted: Nov 7, 2009 1:54:23 PM Ignore janctx Report Abuse Sounds good for somebody
jwduke1 Champion Author Iowa Posts:11,310 Points:2,218,360 Joined:Apr 2004	Message Posted: Nov 7, 2009 1:53:11 PM Ignore jwduke1 Report Abuse Sounds good from what little I can read.......
Wolfwings Champion Author Delaware Posts:3,911 Points:815,530 Joined:May 2004	Message Posted: Nov 7, 2009 1:49:06 PM Ignore Wolfwings Report Abuse If I can't read the article because of ads, I can't make a worthwhile comment.
garman87 Champion Author Austin Posts:1,277 Points:1,508,940 Joined:Aug 2005	Message Posted: Nov 7, 2009 1:48:46 PM Ignore garman87 Report Abuse Good news for America.
threewheeler Champion Author Seattle Posts:2,299 Points:282,790 Joined:Jun 2008	Message Posted: Nov 7, 2009 1:46:25 PM Ignore threewheeler Report Abuse drill now
Tatalah Champion Author Riverside Posts:5,727 Points:1,499,385 Joined:May 2003	Message Posted: Nov 7, 2009 1:46:19 PM Ignore Tatalah Report Abuse Drill for more oil dependance.
Wolfwings Champion Author Delaware Posts:3,911 Points:815,530 Joined:May 2004	Message Posted: Nov 7, 2009 1:44:23 PM Ignore Wolfwings Report Abuse If I can't read the article because of ads, I can't make a worthwhile comment.
Zeke33 Champion Author New Hampshire Posts:2,827 Points:965,245 Joined:Sep 2005	Message Posted: Nov 7, 2009 1:36:23 PM Ignore Zeke33 Report Abuse The drilling moratorium has to be lifted first.
CISA Champion Author Orange County Posts:2,099 Points:674,520 Joined:Dec 2006	Message Posted: Nov 7, 2009 1:36:00 PM Ignore CISA Report Abuse "Drill, baby, drill" Larry Kudlow
rjoeh Champion Author Michigan Posts:3,790 Points:1,582,765 Joined:Jun 2004	Message Posted: Nov 7, 2009 1:35:39 PM Ignore rjoeh Report Abuse This only proves America has the resources... but most have been too lazy to go after getting them.
PaylessKY Champion Author Kentucky Posts:3,575 Points:662,330 Joined:Oct 2008	Message Posted: Nov 7, 2009 1:23:57 PM Ignore PaylessKY Report Abuse I hope it works and they get the oil.
DellDude2 Champion Author Nashville Posts:3,979 Points:1,149,435 Joined:Aug 2005	Message Posted: Nov 7, 2009 1:19:32 PM Ignore DellDude2 Report Abuse Drill, baby drill.
waynemustang Champion Author Indiana Posts:3,203 Points:840,300 Joined:Nov 2006	Message Posted: Nov 7, 2009 1:19:18 PM Ignore waynemustang Report Abuse This is very good.
pulpwood Champion Author Mississippi Posts:4,035 Points:1,190,190 Joined:Sep 2006	Message Posted: Nov 7, 2009 1:18:51 PM Ignore pulpwood Report Abuse Why has nobody drilled it yet?
jwalkerh Champion Author Louisiana Posts:2,095 Points:561,260 Joined:Oct 2008	Message Posted: Nov 7, 2009 1:14:17 PM Ignore jwalkerh Report Abuse Anything viable to wean our dependence on foreign oil!
LanguageMan1 Champion Author Tampa Posts:5,957 Points:689,370 Joined:Apr 2008	Message Posted: Nov 7, 2009 1:11:34 PM Ignore LanguageMan1 Report Abuse 15.7 million barrels of oil is nothing, but every little bit helps when it's here at home. Drill more, produce more and refine more here at home! Move forward, NOW, with tidal, wind, nuclear, hydrogen, natural gas, solar, geo-thermal, non-food source based bio-fuels, etc. Get off of OPEC!
lpj Champion Author Macon Posts:7,386 Points:1,523,040 Joined:Apr 2006	Message Posted: Nov 7, 2009 1:05:33 PM Ignore lpj Report Abuse bring it on , more oil , drill baby !!
lindact Champion Author New Haven Posts:3,999 Points:784,390 Joined:May 2008	Message Posted: Nov 7, 2009 1:05:13 PM Ignore lindact Report Abuse Let's hope they proceed responsibly.
nimpy Champion Author Indianapolis Posts:4,117 Points:891,970 Joined:Oct 2007	Message Posted: Nov 7, 2009 12:56:27 PM Ignore nimpy Report Abuse Well OK but it isn't going to have any real effect yet
NavyStore Champion Author Seattle Posts:2,681 Points:1,184,325 Joined:Aug 2005	Message Posted: Nov 7, 2009 12:53:23 PM Ignore NavyStore Report Abuse Press releases aren't really news.
dhnbBUG Champion Author Pennsylvania Posts:2,621 Points:730,455 Joined:Apr 2008	Message Posted: Nov 7, 2009 12:50:29 PM Ignore dhnbBUG Report Abuse More domestic produced oil is better for the US economy.
dopster Champion Author Toledo Posts:2,187 Points:1,354,210 Joined:Aug 2004	Message Posted: Nov 7, 2009 12:47:55 PM Ignore dopster Report Abuse Good news for a change? Domestic oil?
PDQBlues Champion Author San Diego Posts:2,279 Points:502,325 Joined:Jan 2009	Message Posted: Nov 7, 2009 12:42:55 PM Ignore PDQBlues Report Abuse Good for Cheyenne Resources Corp..
repeater1 Champion Author Kansas Posts:3,441 Points:1,401,320 Joined:Oct 2005	Message Posted: Nov 7, 2009 12:42:50 PM Ignore repeater1 Report Abuse Sounds like a P.R. release. I'll believe it when they actually get something useful out of the ground.
ByGuy Champion Author Dallas Posts:3,226 Points:785,660 Joined:Nov 2005	Message Posted: Nov 7, 2009 12:39:48 PM Ignore ByGuy Report Abuse It's a start at 150 b/day.
arnerator Champion Author Seattle Posts:3,227 Points:652,160 Joined:Sep 2008	Message Posted: Nov 7, 2009 12:37:29 PM Ignore arnerator Report Abuse 150 barrels/day ?? Doesn't sound like much.
mazda03 Rookie Author Quebec City Posts:75 Points:711,060 Joined:Nov 2006	Message Posted: Nov 7, 2009 12:35:58 PM Ignore mazda03 Report Abuse go go go
Cuzilla Champion Author Indianapolis Posts:8,803 Points:1,548,265 Joined:Sep 2005	Message Posted: Nov 7, 2009 12:32:07 PM Ignore Cuzilla Report Abuse At those depths, you could almost take it out with a straw!
SUPERQUACK Champion Author Sacramento Posts:1,467 Points:986,025 Joined:Jun 2007	Message Posted: Nov 7, 2009 12:30:00 PM Ignore SUPERQUACK Report Abuse we need a LOT MORE of this
CLM06 Champion Author Tampa Posts:4,684 Points:1,112,215 Joined:Sep 2006	Message Posted: Nov 7, 2009 12:25:46 PM Ignore CLM06 Report Abuse LET'S GET IT out of the ground
balljars Champion Author Michigan Posts:3,638 Points:722,250 Joined:Aug 2008	Message Posted: Nov 7, 2009 12:23:38 PM Ignore balljars Report Abuse 1000 acres is a good size chunk of land.
DWME Champion Author Indiana Posts:1,113 Points:215,775 Joined:Aug 2009	Message Posted: Nov 7, 2009 12:21:53 PM Ignore DWME Report Abuse Lots of successful prospecting going on with little affect on oil prices.
Asbury09 Champion Author Iowa Posts:2,372 Points:556,805 Joined:Jan 2009	Message Posted: Nov 7, 2009 12:20:40 PM Ignore Asbury09 Report Abuse some cities drill deeper than this for good water
OHMS Champion Author Orange County Posts:8,063 Points:909,635 Joined:May 2005	Message Posted: Nov 7, 2009 12:20:07 PM Ignore OHMS Report Abuse then they won't be able to get processing facilities built onsite, nor build pipelines across sensitive areas with pupfish, desert tortoises and LA environmentalists vegan farms
Tonester1 Champion Author New Jersey Posts:7,637 Points:1,365,145 Joined:Oct 2006	Message Posted: Nov 7, 2009 12:17:38 PM Ignore Tonester1 Report Abuse Drill, Baby.
civicdutie Champion Author Rochester Posts:2,667 Points:539,390 Joined:Nov 2008	Message Posted: Nov 7, 2009 12:14:51 PM Ignore civicdutie Report Abuse I wish I owned that property.
milespergallon Champion Author Illinois Posts:4,983 Points:1,047,395 Joined:Feb 2007	Message Posted: Nov 7, 2009 12:14:42 PM Ignore milespergallon Report Abuse At least it is in the USA
Paw5X Champion Author Gary Posts:5,699 Points:1,541,145 Joined:May 2005	Message Posted: Nov 7, 2009 12:14:14 PM Ignore Paw5X Report Abuse Does that mean the price of gas will come down? Most likely not!
pgerassi Champion Author Milwaukee Posts:5,944 Points:1,167,160 Joined:Apr 2007	Message Posted: Nov 7, 2009 12:09:06 PM Ignore pgerassi Report Abuse A billion dollar property.
TECH500 Champion Author Alberta Posts:3,141 Points:654,655 Joined:Apr 2008	Message Posted: Nov 7, 2009 12:07:42 PM Ignore TECH500 Report Abuse Interesting read.
DirtDauber Champion Author San Antonio Posts:1,820 Points:650,695 Joined:Nov 2005	Message Posted: Nov 7, 2009 12:06:20 PM Ignore DirtDauber Report Abuse 15 million barrels at less than 1,000 feet. Sounds like a winner.
Sam195 Champion Author San Bernardino Posts:3,205 Points:616,325 Joined:Oct 2008	Message Posted: Nov 7, 2009 12:03:41 PM Ignore Sam195 Report Abuse How did this micro-deal make it on to CNNMoney?
mobil2009 Champion Author Chicago Posts:1,466 Points:364,170 Joined:Jun 2009	Message Posted: Nov 7, 2009 12:01:07 PM Ignore mobil2009 Report Abuse 150 barrel thats nothing
netman044 Champion Author Texas Posts:3,844 Points:646,060 Joined:Sep 2005	Message Posted: Nov 7, 2009 12:01:06 PM Ignore netman044 Report Abuse It's hard to imagine that these pay zones had been overlooked during previous drilling. Most of the area around Abilene has been drilled enough that you can't go any where w/o seeing a pump jack.