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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 12:47:58 PM 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 11:26:30 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:4,278 Points:1,117,555 Joined:May 2008	Message Posted: Nov 7, 2009 3:20:32 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:6,771 Points:2,166,740 Joined:Mar 2004	Message Posted: Nov 7, 2009 3:07:45 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 2:59:17 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 2:57:30 PM Ignore craveninnj Report Abuse sounds good to me
janctx Champion Author Lubbock Posts:2,715 Points:882,880 Joined:Nov 2007	Message Posted: Nov 7, 2009 2:54:23 PM Ignore janctx Report Abuse Sounds good for somebody
jwduke1 Champion Author Iowa Posts:13,860 Points:2,724,740 Joined:Apr 2004	Message Posted: Nov 7, 2009 2:53:11 PM Ignore jwduke1 Report Abuse Sounds good from what little I can read.......
gasforus Champion Author Michigan Posts:6,784 Points:1,728,590 Joined:Dec 2005	Message Posted: Nov 7, 2009 2:50:38 PM Ignore gasforus Report Abuse Go green, boys!!!!
Wolfwings Champion Author Delaware Posts:6,408 Points:1,314,165 Joined:May 2004	Message Posted: Nov 7, 2009 2:49:06 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:2,359 Points:1,944,065 Joined:Aug 2005	Message Posted: Nov 7, 2009 2:48:46 PM Ignore garman87 Report Abuse Good news for America.
threewheeler Champion Author Seattle Posts:2,377 Points:318,330 Joined:Jun 2008	Message Posted: Nov 7, 2009 2:46:25 PM Ignore threewheeler Report Abuse drill now
Tatalah Champion Author Riverside Posts:8,807 Points:2,006,030 Joined:May 2003	Message Posted: Nov 7, 2009 2:46:19 PM Ignore Tatalah Report Abuse Drill for more oil dependance.
Wolfwings Champion Author Delaware Posts:6,408 Points:1,314,165 Joined:May 2004	Message Posted: Nov 7, 2009 2:44:23 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:3,873 Points:1,279,655 Joined:Sep 2005	Message Posted: Nov 7, 2009 2:36:23 PM Ignore Zeke33 Report Abuse The drilling moratorium has to be lifted first.
CISA Champion Author Orange County Posts:4,450 Points:1,102,475 Joined:Dec 2006	Message Posted: Nov 7, 2009 2:36:00 PM Ignore CISA Report Abuse "Drill, baby, drill" Larry Kudlow
rjoeh Champion Author Michigan Posts:5,745 Points:2,059,440 Joined:Jun 2004	Message Posted: Nov 7, 2009 2:35:39 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:6,120 Points:1,125,425 Joined:Oct 2008	Message Posted: Nov 7, 2009 2:23:57 PM Ignore PaylessKY Report Abuse I hope it works and they get the oil.
DellDude2 Champion Author Nashville Posts:6,788 Points:1,657,060 Joined:Aug 2005	Message Posted: Nov 7, 2009 2:19:32 PM Ignore DellDude2 Report Abuse Drill, baby drill.
waynemustang Champion Author Indiana Posts:4,671 Points:1,239,030 Joined:Nov 2006	Message Posted: Nov 7, 2009 2:19:18 PM Ignore waynemustang Report Abuse This is very good.
pulpwood Champion Author Mississippi Posts:5,631 Points:1,498,750 Joined:Sep 2006	Message Posted: Nov 7, 2009 2:18:51 PM Ignore pulpwood Report Abuse Why has nobody drilled it yet?
jwalkerh Champion Author Louisiana Posts:4,324 Points:1,011,955 Joined:Oct 2008	Message Posted: Nov 7, 2009 2:14:17 PM Ignore jwalkerh Report Abuse Anything viable to wean our dependence on foreign oil!
LanguageMan1 Champion Author Tampa Posts:9,150 Points:1,199,210 Joined:Apr 2008	Message Posted: Nov 7, 2009 2:11:34 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:8,583 Points:1,700,640 Joined:Apr 2006	Message Posted: Nov 7, 2009 2:05:33 PM Ignore lpj Report Abuse bring it on , more oil , drill baby !!
lindact Champion Author New Haven Posts:6,492 Points:1,271,485 Joined:May 2008	Message Posted: Nov 7, 2009 2:05:13 PM Ignore lindact Report Abuse Let's hope they proceed responsibly.
nimpy Champion Author Indianapolis Posts:6,313 Points:1,334,810 Joined:Oct 2007	Message Posted: Nov 7, 2009 1:56:27 PM Ignore nimpy Report Abuse Well OK but it isn't going to have any real effect yet
NavyStore Champion Author Seattle Posts:3,769 Points:1,661,435 Joined:Aug 2005	Message Posted: Nov 7, 2009 1:53:23 PM Ignore NavyStore Report Abuse Press releases aren't really news.
dhnbBUG Champion Author Pennsylvania Posts:2,625 Points:1,097,110 Joined:Apr 2008	Message Posted: Nov 7, 2009 1:50:29 PM Ignore dhnbBUG Report Abuse More domestic produced oil is better for the US economy.
dopster Champion Author Toledo Posts:4,793 Points:1,827,580 Joined:Aug 2004	Message Posted: Nov 7, 2009 1:47:55 PM Ignore dopster Report Abuse Good news for a change? Domestic oil?
PDQBlues Champion Author San Diego Posts:4,716 Points:982,400 Joined:Jan 2009	Message Posted: Nov 7, 2009 1:42:55 PM Ignore PDQBlues Report Abuse Good for Cheyenne Resources Corp..
repeater1 Champion Author Topeka Posts:6,048 Points:1,915,520 Joined:Oct 2005	Message Posted: Nov 7, 2009 1:42:50 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:5,664 Points:1,271,355 Joined:Nov 2005	Message Posted: Nov 7, 2009 1:39:48 PM Ignore ByGuy Report Abuse It's a start at 150 b/day.
arnerator Champion Author Seattle Posts:5,826 Points:1,156,735 Joined:Sep 2008	Message Posted: Nov 7, 2009 1:37:29 PM Ignore arnerator Report Abuse 150 barrels/day ?? Doesn't sound like much.
mazda03 Sophomore Author Quebec City Posts:179 Points:1,006,265 Joined:Nov 2006	Message Posted: Nov 7, 2009 1:35:58 PM Ignore mazda03 Report Abuse go go go
Cuzilla Champion Author Indianapolis Posts:10,648 Points:1,970,410 Joined:Sep 2005	Message Posted: Nov 7, 2009 1:32:07 PM Ignore Cuzilla Report Abuse At those depths, you could almost take it out with a straw!
SUPERQUACK Champion Author Sacramento Posts:3,990 Points:1,487,715 Joined:Jun 2007	Message Posted: Nov 7, 2009 1:30:00 PM Ignore SUPERQUACK Report Abuse we need a LOT MORE of this
CLM06 Champion Author Tampa Posts:6,841 Points:1,496,065 Joined:Sep 2006	Message Posted: Nov 7, 2009 1:25:46 PM Ignore CLM06 Report Abuse LET'S GET IT out of the ground
balljars Champion Author Michigan Posts:6,145 Points:1,219,200 Joined:Aug 2008	Message Posted: Nov 7, 2009 1:23:38 PM Ignore balljars Report Abuse 1000 acres is a good size chunk of land.
DWME Champion Author Indiana Posts:1,223 Points:250,000 Joined:Aug 2009	Message Posted: Nov 7, 2009 1:21:53 PM Ignore DWME Report Abuse Lots of successful prospecting going on with little affect on oil prices.
Asbury09 Champion Author Iowa Posts:4,983 Points:1,072,680 Joined:Jan 2009	Message Posted: Nov 7, 2009 1:20:40 PM Ignore Asbury09 Report Abuse some cities drill deeper than this for good water
OHMS Champion Author Orange County Posts:10,808 Points:1,251,680 Joined:May 2005	Message Posted: Nov 7, 2009 1:20:07 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:10,380 Points:1,861,785 Joined:Oct 2006	Message Posted: Nov 7, 2009 1:17:38 PM Ignore Tonester1 Report Abuse Drill, Baby.
civicdutie Champion Author Rochester Posts:3,010 Points:611,275 Joined:Nov 2008	Message Posted: Nov 7, 2009 1:14:51 PM Ignore civicdutie Report Abuse I wish I owned that property.
milespergallon Champion Author Illinois Posts:7,503 Points:1,481,340 Joined:Feb 2007	Message Posted: Nov 7, 2009 1:14:42 PM Ignore milespergallon Report Abuse At least it is in the USA
Paw5X Champion Author Gary Posts:7,759 Points:1,880,345 Joined:May 2005	Message Posted: Nov 7, 2009 1:14:14 PM Ignore Paw5X Report Abuse Does that mean the price of gas will come down? Most likely not!
pgerassi Champion Author Milwaukee Posts:8,526 Points:1,667,950 Joined:Apr 2007	Message Posted: Nov 7, 2009 1:09:06 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 1:07:42 PM Ignore TECH500 Report Abuse Interesting read.
DirtDauber Champion Author San Antonio Posts:4,420 Points:1,163,325 Joined:Nov 2005	Message Posted: Nov 7, 2009 1:06:20 PM Ignore DirtDauber Report Abuse 15 million barrels at less than 1,000 feet. Sounds like a winner.
Sam195 Champion Author San Bernardino Posts:5,765 Points:1,116,950 Joined:Oct 2008	Message Posted: Nov 7, 2009 1:03:41 PM Ignore Sam195 Report Abuse How did this micro-deal make it on to CNNMoney?
mobil2009 Champion Author Chicago Posts:1,467 Points:407,140 Joined:Jun 2009	Message Posted: Nov 7, 2009 1:01:07 PM Ignore mobil2009 Report Abuse 150 barrel thats nothing