DALLAS, TX — (Marketwired) — 07/02/13 — Petron Energy II, Inc. (OTCBB: PEII) announced today 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 27, 2013 press release we stated, that our wells were in very early stages of delivering production results and we realized a 20% increase in new production from two of the six reworked wells, achieving a cumulative total of 20BOE/D.” Smith goes on to say, “Increases in our natural gas pipeline production allowed the company to achieve a 50% increase in its daily production, bringing the cumulative total to 30BOE/D. We expect to have more results to report next week as more wells begin to deliver production results.”
Gil Steedley