TAMPA, Fla., June 25 /PRNewswire-FirstCall/ -- Proper Power & Energy, Inc. (OTC Bulletin Board: PPWE) announced today receipt of additional letters of support for the RadioMetrics Plus (RMP) survey tool. The Company has based its petroleum reserve projections of its leased mineral rights on the RMP method and subsequent historic seismic data readings.
In a written statement from Red Fork Production, LLC of San Antonio, Texas, the statement reads, "I have known of Don Metcalfe and Robert Dunbar for almost 20 years.
"Who says the Wild-Catter is dead? A small company, with eight employees, out of Grand Rapids, Michigan, has just discovered a field in Central Utah, with over one billion barrels of recoverable oil. The company, Wolverine Oil and Gas, now sits atop a gigantic oil field, one of the largest in the Continental United States ... I will never forget that. But Mr. Dunbar and Mr. Metcalfe have many times in their careers been at the center of historic discoveries and their humble attitude and tireless persistence is an inspiration to all of us.
"On a smaller scale, Mr. Dunbar and Mr. Metcalfe have performed RadioMetrics Plus Surveys for our Company, as well. From 2005 – 2010, we have utilized RadioMetrics Plus technology in our operations in Texas and Oklahoma, and the effective rate has been measurably higher than the industry average. We have taken the raw numbers and derived excellent drill targets, and we have used the same technologies to eliminate areas of low/no potential."
"Clearly this statement represents more objective support for the RadioMetrics Plus data survey tool for hydrocarbons release," stated Proper Power & Energy President, Joseph Abdo. "Additionally, this case study continues to suggest that Thrust is the best outfit to conduct exploration in the state of Utah given their verifiable extensive activity and experience there," concluded Abdo.
About Proper Power & Energy:
Proper Power & Energy was formed in 2006 as an exploration and production company for oil and gas. The organization is committed to utilizing a very dynamic system of research and testing, and as a result of this extensive research and testing, have selected several sites with very good to excellent potential for productivity.
Safe Harbor Statement:
Certain statements made in this press release constitute forward-looking statements that are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates" and variations of these words and similar expressions are intended to identify forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors. All forward-looking statements speak only as of the date of this press release and the company does not undertake any obligation to update or publicly release any revisions to forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release.
SOURCE Proper Power & Energy, Inc.