Drake Gold Resources operator confirms announces initial re-works producing oil

Thursday, Dec 06, 2012

Drake Gold Resources Inc. (OTC:DKGR), a natural resources company with a focus in oil and gas, announces today that its operator, Chris Repasky, has confirmed that as of last week, the company has 26 barrels of oil in the battery tank and more will be added each day based on current production; in total the company has two tank batteries with a 100 barrel capacity each.

“I am pleased with the progress we have made since July of this year. Chris has worked diligently to exceed our expectations. We have a dedicated team in place working toward a cost-effective plan for growth in revenues and shareholder value.”

There are currently a number of active wells that have been reworked and are being pumped, each producing varying amounts of oil. Weather permitting; the company will rework additional wells with similar expectations over the coming months.

“This is tremendous news,” states DKGR CEO, Peter Matousek. “I am pleased with the progress we have made since July of this year. Chris has worked diligently to exceed our expectations. We have a dedicated team in place working toward a cost-effective plan for growth in revenues and shareholder value.”

Continued updates are forthcoming in line with the company’s progress on its initial project in Pennsylvania as well as discussions toward additional strategic alliances and/or joint ventures the company feels will serve as leverage for exponential growth.

Source: Business Wire

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