OTCPK:STOSF - Post by User
Post by
beavertonon Jul 17, 2006 6:14pm
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Post# 11095261
stock down -33 cents already
stock down -33 cents alreadystock sink already on the bad news 47%
tommorrow stock will be trading at .25 -.35 cents range
Zenon Potoczny, president of Shelton, states: "We are obviously disappointed in the apparent lack of hydrocarbon saturation in the Lower Cretaceous however are encouraged by the quality and quantity of potential reservoir rock and will await final test results with interest. The drilling operation was done on time and on budget with excellent quality control by our operating partner Chernomorneftogaz. Test results for the Lower Cretaceous as well as the Maikop zone will be released as information is reported from the well. Shelton will continue to add to its inventory of exploration and exploitation projects in the Azov and Black Sea regions of Ukraine as appropriate opportunities are developed."
In addition, Shelton is pleased to report that the North and East Biryucha Structures have recently been included in the Shelton/Chernomorneftogaz joint venture and application for these lands has been filed with the regulating authority in Ukraine.
The second well in the Biryucha appraisal program is expected to be drilled in March of 2007 following integration of new well information.
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