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Cheyenne Resources Negotiating to Secure Large Oil Property

CNN Money.com -- BAKERSFIELD, Calif., Nov. 6, 2009 (GLOBE NEWSWIRE) -- Cheyenne Resources Corp. (OTCBB:CYRS), an emerging company focusing on major exploration and production reclamation projects in the oil and gas sector, today reported that it currently is in negotiations to secure 1,000 acres of property in Abilene, Texas.

The site has reported reserves of 15.7 million barrels of oil at depths of less than 1,000 feet. There are 11 additional zones on the property with recoverable crude at depths of 500 to 4,500 feet.

"Upon successful completion of negotiations," states Cheyenne Resources President Thomas J. Cunningham, "re-work will commence immediately. Within six months, we expect production of 150 barrels of oil per day.

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Submitted Nov 07, 2009 By: liltruckman

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samIam09 Rookie Author Louisville Posts:1 Points:245 Joined:Nov 2009	Message Posted: Nov 9, 2009 11:47:58 AM Ignore samIam09 Report Abuse This company is gonna go up. Theyre making the right moves while momentum for oil independance is strong. With that much oil less than 1500ft. I wonder just how much more will "turn up" as they begin extraction ;)
RobRD Champion Author Alberta Posts:3,132 Points:756,785 Joined:Jul 2007	Message Posted: Nov 7, 2009 10:26:30 PM Ignore RobRD Report Abuse It must be an oil field that they are using newer techniques to get out the remaining oil. At 150 barrels a day, it is not a very productive field.
BEngr Veteran Author Illinois Posts:349 Points:341,875 Joined:May 2008	Message Posted: Nov 7, 2009 2:20:32 PM Ignore BEngr Report Abuse Cheyenne Resources Corp. seems to know what they are doing and will make a good profit.
Mr.Dirt Champion Author Albany Posts:3,689 Points:1,562,725 Joined:Mar 2004	Message Posted: Nov 7, 2009 2:07:45 PM Ignore Mr.Dirt Report Abuse any oil find sounds good to me
DFleming Veteran Author Alberta Posts:430 Points:89,735 Joined:May 2008	Message Posted: Nov 7, 2009 1:59:17 PM Ignore DFleming Report Abuse It always amazes me how they find new oil fields after a crisis
craveninnj Rookie Author New Jersey Posts:95 Points:19,475 Joined:Oct 2009	Message Posted: Nov 7, 2009 1:57:30 PM Ignore craveninnj Report Abuse sounds good to me
janctx Champion Author Texas Posts:1,364 Points:581,605 Joined:Nov 2007	Message Posted: Nov 7, 2009 1:54:23 PM Ignore janctx Report Abuse Sounds good for somebody
jwduke1 Champion Author Iowa Posts:9,890 Points:1,937,380 Joined:Apr 2004	Message Posted: Nov 7, 2009 1:53:11 PM Ignore jwduke1 Report Abuse Sounds good from what little I can read.......
Wolfwings Champion Author Delaware Posts:2,493 Points:548,325 Joined:May 2004	Message Posted: Nov 7, 2009 1:49:06 PM Ignore Wolfwings Report Abuse If I can't read the article because of ads, I can't make a worthwhile comment.
garman87 Sophomore Author Austin Posts:226 Points:1,233,705 Joined:Aug 2005	Message Posted: Nov 7, 2009 1:48:46 PM Ignore garman87 Report Abuse Good news for America.
threewheeler All-Star Author Seattle Posts:947 Points:49,880 Joined:Jun 2008	Message Posted: Nov 7, 2009 1:46:25 PM Ignore threewheeler Report Abuse drill now
Tatalah Champion Author Riverside Posts:4,228 Points:1,268,040 Joined:May 2003	Message Posted: Nov 7, 2009 1:46:19 PM Ignore Tatalah Report Abuse Drill for more oil dependance.
Wolfwings Champion Author Delaware Posts:2,493 Points:548,325 Joined:May 2004	Message Posted: Nov 7, 2009 1:44:23 PM Ignore Wolfwings Report Abuse If I can't read the article because of ads, I can't make a worthwhile comment.
guyincognitoNY Champion Author New York Posts:1,943 Points:395,285 Joined:Sep 2008	Message Posted: Nov 7, 2009 1:42:04 PM Ignore guyincognitoNY Report Abuse good now drill it
Zeke33 Champion Author New Hampshire Posts:1,877 Points:750,550 Joined:Sep 2005	Message Posted: Nov 7, 2009 1:36:23 PM Ignore Zeke33 Report Abuse The drilling moratorium has to be lifted first.
CISA All-Star Author Orange County Posts:830 Points:481,680 Joined:Dec 2006	Message Posted: Nov 7, 2009 1:36:00 PM Ignore CISA Report Abuse "Drill, baby, drill" Larry Kudlow
rjoeh Champion Author Michigan Posts:2,649 Points:1,340,785 Joined:Jun 2004	Message Posted: Nov 7, 2009 1:35:39 PM Ignore rjoeh Report Abuse This only proves America has the resources... but most have been too lazy to go after getting them.
socalusra Champion Author California Posts:3,090 Points:2,073,615 Joined:Aug 2003	Message Posted: Nov 7, 2009 1:29:41 PM Ignore socalusra Report Abuse Drill Now
PaylessKY Champion Author Kentucky Posts:1,430 Points:377,430 Joined:Oct 2008	Message Posted: Nov 7, 2009 1:23:57 PM Ignore PaylessKY Report Abuse I hope it works and they get the oil.
DellDude2 Champion Author Nashville Posts:2,469 Points:867,535 Joined:Aug 2005	Message Posted: Nov 7, 2009 1:19:32 PM Ignore DellDude2 Report Abuse Drill, baby drill.
waynemustang Champion Author Indiana Posts:2,074 Points:595,330 Joined:Nov 2006	Message Posted: Nov 7, 2009 1:19:18 PM Ignore waynemustang Report Abuse This is very good.
pulpwood Champion Author Mississippi Posts:2,773 Points:922,005 Joined:Sep 2006	Message Posted: Nov 7, 2009 1:18:51 PM Ignore pulpwood Report Abuse Why has nobody drilled it yet?
jwalkerh Champion Author Louisiana Posts:1,089 Points:313,135 Joined:Oct 2008	Message Posted: Nov 7, 2009 1:14:17 PM Ignore jwalkerh Report Abuse Anything viable to wean our dependence on foreign oil!
LanguageMan1 Champion Author Tampa Posts:4,354 Points:471,325 Joined:Apr 2008	Message Posted: Nov 7, 2009 1:11:34 PM Ignore LanguageMan1 Report Abuse 15.7 million barrels of oil is nothing, but every little bit helps when it's here at home. Drill more, produce more and refine more here at home! Move forward, NOW, with tidal, wind, nuclear, hydrogen, natural gas, solar, geo-thermal, non-food source based bio-fuels, etc. Get off of OPEC!
lpj Champion Author Macon Posts:5,834 Points:1,240,030 Joined:Apr 2006	Message Posted: Nov 7, 2009 1:05:33 PM Ignore lpj Report Abuse bring it on , more oil , drill baby !!
lindact Champion Author New Haven Posts:2,588 Points:512,735 Joined:May 2008	Message Posted: Nov 7, 2009 1:05:13 PM Ignore lindact Report Abuse Let's hope they proceed responsibly.
nimpy Champion Author Indianapolis Posts:2,978 Points:658,675 Joined:Oct 2007	Message Posted: Nov 7, 2009 12:56:27 PM Ignore nimpy Report Abuse Well OK but it isn't going to have any real effect yet
NavyStore Champion Author Seattle Posts:1,296 Points:904,260 Joined:Aug 2005	Message Posted: Nov 7, 2009 12:53:23 PM Ignore NavyStore Report Abuse Press releases aren't really news.
dhnbBUG Champion Author Pennsylvania Posts:2,252 Points:515,350 Joined:Apr 2008	Message Posted: Nov 7, 2009 12:50:29 PM Ignore dhnbBUG Report Abuse More domestic produced oil is better for the US economy.
dopster All-Star Author Toledo Posts:832 Points:1,115,250 Joined:Aug 2004	Message Posted: Nov 7, 2009 12:47:55 PM Ignore dopster Report Abuse Good news for a change? Domestic oil?
PDQBlues Champion Author San Diego Posts:1,058 Points:260,325 Joined:Jan 2009	Message Posted: Nov 7, 2009 12:42:55 PM Ignore PDQBlues Report Abuse Good for Cheyenne Resources Corp..
repeater1 Champion Author Kansas Posts:2,008 Points:1,116,675 Joined:Oct 2005	Message Posted: Nov 7, 2009 12:42:50 PM Ignore repeater1 Report Abuse Sounds like a P.R. release. I'll believe it when they actually get something useful out of the ground.
ByGuy Champion Author Dallas Posts:1,893 Points:517,175 Joined:Nov 2005	Message Posted: Nov 7, 2009 12:39:48 PM Ignore ByGuy Report Abuse It's a start at 150 b/day.
arnerator Champion Author Seattle Posts:1,784 Points:370,260 Joined:Sep 2008	Message Posted: Nov 7, 2009 12:37:29 PM Ignore arnerator Report Abuse 150 barrels/day ?? Doesn't sound like much.
mazda03 Rookie Author Quebec City Posts:49 Points:510,615 Joined:Nov 2006	Message Posted: Nov 7, 2009 12:35:58 PM Ignore mazda03 Report Abuse go go go
Cuzilla Champion Author Indianapolis Posts:7,461 Points:1,303,325 Joined:Sep 2005	Message Posted: Nov 7, 2009 12:32:07 PM Ignore Cuzilla Report Abuse At those depths, you could almost take it out with a straw!
SUPERQUACK Rookie Author Sacramento Posts:91 Points:715,985 Joined:Jun 2007	Message Posted: Nov 7, 2009 12:30:00 PM Ignore SUPERQUACK Report Abuse we need a LOT MORE of this
CLM06 Champion Author Tampa Posts:3,250 Points:840,775 Joined:Sep 2006	Message Posted: Nov 7, 2009 12:25:46 PM Ignore CLM06 Report Abuse LET'S GET IT out of the ground
balljars Champion Author Michigan Posts:2,269 Points:453,075 Joined:Aug 2008	Message Posted: Nov 7, 2009 12:23:38 PM Ignore balljars Report Abuse 1000 acres is a good size chunk of land.
DWME All-Star Author Indiana Posts:526 Points:95,235 Joined:Aug 2009	Message Posted: Nov 7, 2009 12:21:53 PM Ignore DWME Report Abuse Lots of successful prospecting going on with little affect on oil prices.
Asbury09 All-Star Author Iowa Posts:935 Points:272,130 Joined:Jan 2009	Message Posted: Nov 7, 2009 12:20:40 PM Ignore Asbury09 Report Abuse some cities drill deeper than this for good water
OHMS Champion Author Orange County Posts:5,728 Points:624,810 Joined:May 2005	Message Posted: Nov 7, 2009 12:20:07 PM Ignore OHMS Report Abuse then they won't be able to get processing facilities built onsite, nor build pipelines across sensitive areas with pupfish, desert tortoises and LA environmentalists vegan farms
Tonester1 Champion Author New Jersey Posts:6,125 Points:1,085,570 Joined:Oct 2006	Message Posted: Nov 7, 2009 12:17:38 PM Ignore Tonester1 Report Abuse Drill, Baby.
civicdutie Champion Author Rochester Posts:1,402 Points:282,490 Joined:Nov 2008	Message Posted: Nov 7, 2009 12:14:51 PM Ignore civicdutie Report Abuse I wish I owned that property.
milespergallon Champion Author Illinois Posts:3,725 Points:824,965 Joined:Feb 2007	Message Posted: Nov 7, 2009 12:14:42 PM Ignore milespergallon Report Abuse At least it is in the USA
paw4X Champion Author Gary Posts:4,443 Points:1,327,005 Joined:May 2005	Message Posted: Nov 7, 2009 12:14:14 PM Ignore paw4X Report Abuse Does that mean the price of gas will come down? Most likely not!
pgerassi Champion Author Milwaukee Posts:4,411 Points:890,785 Joined:Apr 2007	Message Posted: Nov 7, 2009 12:09:06 PM Ignore pgerassi Report Abuse A billion dollar property.
TECH500 Champion Author Alberta Posts:2,789 Points:562,740 Joined:Apr 2008	Message Posted: Nov 7, 2009 12:07:42 PM Ignore TECH500 Report Abuse Interesting read.
DirtDauber Veteran Author San Antonio Posts:453 Points:379,435 Joined:Nov 2005	Message Posted: Nov 7, 2009 12:06:20 PM Ignore DirtDauber Report Abuse 15 million barrels at less than 1,000 feet. Sounds like a winner.
Sam195 Champion Author San Bernardino Posts:1,865 Points:352,975 Joined:Oct 2008	Message Posted: Nov 7, 2009 12:03:41 PM Ignore Sam195 Report Abuse How did this micro-deal make it on to CNNMoney?