TRSI - Strong Buy
Haier : TRSI - Strong Buy
CLEVELAND, OH, Oct 01, 2007 (MARKET WIRE via COMTEX News Network) --
Trophy Resources (PINKSHEETS: TRSI) is happy to announce that they have completed the re-work / reentry on the R&W #1's initial oil well and the associated water disposal well and are again producing oil. The well will be closely observed as production should be brought up to optimum levels over the next week.
"We expect production to settle in and maintain the rates we produced last fall of 16-20 BOPD," stated Eric Leonetti, Trophy President and CEO. "We are proceeding with the two additional re-work / reentry wells on the R&W and expect to have them both online in the next 60 days."
Future updates will be forthcoming as results are achieved.
About Trophy Resources
Trophy Resources, Inc. (www.trophyoil.com) is an independent natural resource company with the goal of controlling lease hold acreage and mineral rights. Trophy's oil interests are in the Fort Worth Basin in central Texas and the Casper Arch / Wind River Basin in Wyoming. Trophy expects to acquire advanced-stage projects and/or producing mines in some of the most prolific precious metal districts in the world. The Company's goal is to evaluate profitable options, build a solid foundation of assets through acquisition of land and/or leases, and explore and develop opportunities on these leases.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks. Trophy Resources, Inc. is an exploration with limited experience in the oil and gas industry. At the time of this release Trophy Resources lacks the financial capabilities to meet its financial obligations and its management expects to dilute the company's shares to raise the necessary operating capital. Based upon industry standards Trophy would be considered highly speculative and lacks any competitive advantage over its competition. Additional risks you should consider, this list is limited and additional risk not mentioned may apply: failure to meet Trophy's financial and contractual obligations, Trophy's managerial errors made based upon the Company's limited experience and knowledge of the industry, commodity risk, acts of God and regulatory risk.
You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements.
Contact: Trophy Resources, Inc. Eric Leonetti 866-284-8617 email@example.com
SOURCE: Trophy Resources, Inc.
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