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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:3,693 Points:868,820 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 All-Star Author Illinois Posts:903 Points:451,780 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:4,220 Points:1,668,795 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 Veteran Author Alberta Posts:487 Points:101,160 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:1,996 Points:694,745 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:10,475 Points:2,053,155 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:3,068 Points:653,505 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 All-Star Author Austin Posts:665 Points:1,346,495 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:1,548 Points:117,735 Joined:Jun 2008	Message Posted: Nov 7, 2009 1:46:25 PM Ignore threewheeler Report Abuse drill now
Tatalah Champion Author Riverside Posts:4,590 Points:1,331,640 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:3,068 Points:653,505 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.
guyincognitoNY Champion Author New York Posts:2,529 Points:511,060 Joined:Sep 2008	Message Posted: Nov 7, 2009 1:42:04 PM Ignore guyincognitoNY Report Abuse good now drill it
Zeke33 Champion Author New Hampshire Posts:2,271 Points:833,115 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:1,363 Points:553,835 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:3,184 Points:1,454,305 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:2,310 Points:493,205 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:3,091 Points:980,290 Joined:Aug 2005	Message Posted: Nov 7, 2009 1:19:32 PM Ignore DellDude2 Report Abuse Drill, baby drill.
waynemustang Champion Author Indiana Posts:2,516 Points:692,760 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:3,319 Points:1,033,800 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:1,434 Points:407,155 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:4,830 Points:547,925 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:6,413 Points:1,354,985 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:3,173 Points:624,760 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:3,495 Points:766,490 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:1,872 Points:1,018,665 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:2,528 Points:599,570 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:1,317 Points:1,222,685 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:1,524 Points:352,700 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:2,592 Points:1,232,410 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:2,428 Points:624,950 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:2,371 Points:485,285 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:61 Points:592,030 Joined:Nov 2006	Message Posted: Nov 7, 2009 12:35:58 PM Ignore mazda03 Report Abuse go go go
Cuzilla Champion Author Indianapolis Posts:7,992 Points:1,397,535 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 All-Star Author Sacramento Posts:630 Points:821,835 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:3,836 Points:948,750 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:2,835 Points:563,850 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:1,063 Points:205,925 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:1,520 Points:387,905 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:6,746 Points:740,360 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:6,768 Points:1,201,120 Joined:Oct 2006	Message Posted: Nov 7, 2009 12:17:38 PM Ignore Tonester1 Report Abuse Drill, Baby.
civicdutie Champion Author Rochester Posts:1,929 Points:388,125 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:4,293 Points:928,070 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:4,964 Points:1,418,035 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:5,025 Points:1,005,750 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 All-Star Author San Antonio Posts:975 Points:485,060 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:2,400 Points:458,880 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:1,137 Points:234,410 Joined:Jun 2009	Message Posted: Nov 7, 2009 12:01:07 PM Ignore mobil2009 Report Abuse 150 barrel thats nothing