KANSAS CITY, Mo., June 29, 2012 /PRNewswire/ -- JBH Consulting Group & Southlake Resources Group announced today the Initial Production from its K&J (Parkerson) Well in Ness County, Kansas is 100 Barrels of Oil.
The pressures have remained consistent and the flow rates have been anywhere between 100-135 barrels of oil per day.
Brian Hudnall, President of JBH Consulting Group, said, "I'm ecstatic about the initial production from the K&J well. Based on the initial data, we believe this well should produce at a high level for good amount of time. We are going to continue to search for good oil reserves in West Central Kansas as the economics make total sense for the company and our partners. Palomino Petroleum has been able to supply us with solid prospects and we will continue to use them as our contracted operator in West Central Kansas."
Southlake Resources Group President Cody M. Winters stated, "We continue to remain excited with the results from our central Kansas development. We hit this one out of the park and will continue to allocate a good portion of our drilling CAPEX to these Mississippian vertical plays."
About JBH Consulting Group:
JBH Consulting Group is a private oil and gas company headquartered in Kansas City, Missouri. Further information can be found on the company's website at www.jbhconsultinggroup.com
Southlake Resources Group based out of Dallas, Texas is a private, limited liability company formed to provide working capital and partner with highly successful operators for domestic oil and gas drilling programs. For more information on this and other activities of the Company, see the Southlake Resources Group web site at http://www.southlakeresourcesgroup.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act on 1995- Forward-looking statements in this release do not constitute guarantees of future performance. Such forward-looking statements are subject to risks and uncertainties that could cause our actual results to differ materially from those anticipated. Forward-looking statements in this document include statements regarding the Company's exploration, drilling, and development plans, the Company's expectations regarding the timing and success of such programs. Factors that could cause or contribute to such differences include, but are not limited to, fluctuations in the prices of oil and gas, uncertainties inherent in estimating quantities of oil and gas reserves and projecting future rates of production and timing of development activities, competition, operating risks, acquisition risks, liquidity and capital requirements, the effects of governmental regulation, adverse changes in the market for the Company's oil and gas production, dependence upon third-party vendors, and other risks associated with the oil and gas market. We assume no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
SOURCE JBH Consulting Group