LAS VEGAS, NV — (Marketwired) — 12/11/13 — Tiger Oil and Energy, Inc. (OTCQB: TGRO) is pleased to announce that it has signed an election to participate in the first of three wells with TOTO Energy LLC in Cowley County Kansas. Tiger will earn a 30% working interest and a 24.45% Net Royalty Interest in the well. Cost of the first well has increased to $630,000 because of the cold weather for drilling and fracking each well with Tiger–s cost of 30% to be $189,000 per well.
Toto Energy LLC will be the operator of these wells. Toto is a Texas oil and gas producer with over 100,000 acres under lease in Kansas currently for future joint development. Toto has been aggressively drilling in Kansas in 2013 with 8 wells completed and four more in stages of completion by December in Cowley County KS.
Tiger Oil and Energy is a diversified oil exploration company expanding its portfolio of projects with value added acquisitions and participations. TGRO previously closed an exchange agreement with Jett Rink Oil, LLC, wherein the Company acquired 100% of Jett Rink Oil, LLC. With this purchase, the Company acquired interests in two oil and gas leases located in Creek County, State of Oklahoma, together with all equipment located thereon.
Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the Company–s expectations with regard to the future impact on the Company–s results from new products in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. A complete “SAFE HARBOR: Disclosure” is listed on the Company–s Website tigeroilandenergy.com under “News”.
Kenneth B Liebscher