DALLAS, TX -- (Marketwired) -- 06/27/13 -- Petron Energy II, Inc. (OTCBB: PEII) announced today very early production progress from rework operations in Oklahoma.
Petron Energy II, Inc., together with its subsidiaries, engages in the acquisition and development of properties for the production of crude oil and natural gas, transporting natural gas through its pipeline subsidiary and well servicing through its servicing subsidiary, in the United States.
Floyd Smith, President and CEO of Petron Energy II, Inc. states, "in our June 24, 2013 press release we stated, "We had successfully finalized recompletion operations on 4 of the 6 wells in the Oklahoma market." "These wells are in the very early stages of delivering production results, currently we have realized a 20% increase in new production from two of the six reworked wells and our cumulative total is 20BOE/D." "We expect to have more to report next week as more wells begin to deliver production results." The company expects more production results from two previously drilled wells on its Edwards lease which it stimulated this week. The company will report production results as soon as they are available.
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