Petron Energy II, Inc. Reports on Production on its Texas Wells

DALLAS, Texas, July 17, 2014 (GLOBE NEWSWIRE) — via PRWEB – Petron Energy II, Inc. (“Petron II” or the “Company”) (PEIID) Petron Energy II, Inc. reports on Production on its Texas wells.

On July 1, 2014 Petron Energy II, Inc. announced that it had returned its Texas wells back to full production and projected Texas production should add an additional 8-10 barrels of oil per day. As of this morning the company is reporting that its Texas daily oil production is 15 barrels of oil per day. Additionally, Petron Energy II, Inc. has roughly 450 barrels of oil in its gathering tanks expected to sell next week.

Floyd Smith, President and CEO of Petron Energy II, Inc., states, “This production is better than we projected, we believe that we may be able to enhance our daily barrel rates more in Texas by performing acid treatments on our Texas wells. We plan to move ahead with those treatments very soon.”

The next phase of operations for the company in Texas will involve the design of its secondary recovery waterflood development plan on the Redder Lease. The Redder Lease will be the last of three large leases planned for secondary recovery waterflooding procedures in the company’s 2014 CAPEX budget. When all waterflood development plans have been implemented, the company projects the total daily oil production range of all three leases to be 125 — 200 barrels of oil per day. We will provide more updates as they become available.

NOTICE: This news release contains “forward-looking statements” (statements which are not historical facts) made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

CORRECTION – Petron Energy II, Inc. Announces $10M Line of Credit is Approved and Plans for Use of Proceeds

DALLAS, Texas, July 10, 2014 (GLOBE NEWSWIRE) — via PRWEB – Petron Energy II, Inc. (“Petron II” or the “Company”) (PEIID) CORRECTION – Petron Energy II, Inc. announces that its $10Million Dollar Line of Credit has been approved by the SEC.

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, the transportation of natural gas through its pipeline subsidiary and well servicing through its servicing subsidiary. The Company’s operations are based in the United States.

Petron Energy II, Inc., is filing this press release to correct an error inadvertently reported on our press release dated May 9, 2014 (the “Press Release”). The press release inadvertently stated that the Company’s $10 Million Dollar Line of Credit had been approved by the U.S. Securities and Exchange Commission (the “SEC”). However, more accurately, the press release intended to report that the SEC submitted to the Company a “Notice of Effectiveness” in connection with the Company’s registration statement on Form S-1, which was made effective on April 25, 2014. As disclosed in the Form S-1 and pursuant to an Investment Agreement with CPUS Income Group LLC (“CPUS”), the Company may “put” up to $10,000,000 in shares of its common stock upon exercise of the put right offered by CPUS.

Floyd Smith, President and CEO of Petron Energy II, Inc., states “We sincerely regret any confusion this may have caused and will make every effort to insure this does not happen again”.

NOTICE: This news release contains “forward-looking statements” (statements which are not historical facts) made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Petron Energy II, Inc. reports on Operations of Garrett Lease in Creek County, OK

Petron Energy II, Inc. reports Garrett Lease Operations

DALLAS, Texas, July 9, 2014 (GLOBE NEWSWIRE) — via PRWEB – Petron Energy II, Inc. (“Petron II” or the “Company”) (PEIID) Petron Energy II, Inc. (Petron II) announces Operations update on Garrett Lease in Creek County, OK.

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, the transportation of natural gas through its pipeline subsidiary and well servicing through its servicing subsidiary. The Company’s operations are based in the United States.

On July 8, 2014 the company announced that it had closed on its Garret Lease acquisition with Mr. Bill Sperling. The company announced this morning that they have stimulated two zones in the Garrett #3 well and have begun to swab the well back. Floyd Smith, President and CEO of Petron Energy II, Inc., states “Our swab test on the Garrett #3 well have been successful thus far and we hope to finalize our testing sometime this week and put the well online for commercial production very soon.” “The company plans to commingle the Wilcox and Dutcher zones and produce both pay zones simultaneously. The Garrett #3 has a very well developed payzones remaining behind pipe for potential future production. The company will report results as soon as they are available.”

NOTICE: This news release contains “forward-looking statements” (statements which are not historical facts) made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

 

Petron Energy II, Inc. Announces Garrett Lease Purchase

Petron Energy II, Inc. Announces Closing of Garrett Lease Acquisition in Creek County, OK

DALLAS, Texas, July 8, 2014 (GLOBE NEWSWIRE) — via PRWEB – Petron Energy II, Inc. (“Petron II” or the “Company”) (PEIID) Petron Energy II signs Acquisition Agreement to purchase Garrett Lease in Creek County, OK.

Floyd Smith, President and CEO of Petron Energy II, Inc., states “On June 2, 2014 we announced that we signed an acquisition agreement and tendered the initial down payment with Mr. Bill Sperling to purchase the Garrett Lease which has existing wells. As of this morning we announced that we have closed on the purchase of the Garrett Lease. One of the key wells we intend to attempt a recompletion is the Garrett #3; the Garrett #3 well has a 3 well developed pay zones which we will test for commercial production. Our geologist and a third party petroleum engineer have reviewed the Garrett #3 logs and found them to have all of the key components for oil; based on their log analysis.”

“The company is scheduled to test the Garrett #3 well during the next 7 — 10 days weather permitting. The company will report results as soon as they are available.”

NOTICE: This news release contains “forward-looking statements” (statements which are not historical facts) made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Texas Wells back to Commercial Production

Petron II brings Texas Wells Online

DALLAS, Texas, July 7, 2014 (GLOBE NEWSWIRE) — via PRWEB – Petron Energy II, Inc. (“Petron II” or the “Company”) (PEII) Petron Energy II, Inc. returns its Texas wells back to Commercial Production.

On June 30, 2014, Petron II previously announced that on Friday June 27, 2014 the Texas Railroad Commission (RRC) approved their P-5 application, effectively clearing the way for all of its Texas wells to be returned to commercial production. This morning the company announced that it had returned its Texas wells back to full production. Floyd Smith, President and CEO of Petron Energy II, Inc., stated, “We are very pleased with the addition of our Texas properties at this time and we estimate that our Texas production should add and additional 8-10 barrels of oil per day. The next phase of operations for Petron II in Texas will involve the design of its secondary recovery waterflood development plan for the Redder Lease. The Redder Lease is the last of three large leases planned for secondary recovery waterflooding procedures in the company’s 2014 CAPEX budget.” Petron II will provide more updates as they become available.

NOTICE: This news release contains “forward-looking statements” (statements which are not historical facts) made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

1:500 reverse stock split

On July 3rd, there was a 500 to 1 reverse stock split on all PEII stock.  That means every 500 shares of existing PEII stock was exchanged for 1 share of PEIID.  The stock price was adjusted upwards by the same ratio so that the split does not change the total value of the shares.  With the reverse split in force, our trade symbol is now PEIID.  As a result, trading under the symbol PEII is not valid at this time.

Form 8-K for PETRON ENERGY II, INC.

Change in Directors or Principal Officers

ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS
Resignation

On June 30, 2014, Mr. Judson Hoover resigned as Director of Petron Energy II, Inc., a Nevada Corporation (the “Company”). The resignation was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.

Operational Approval on all of our Texas Wells

DALLAS, Texas, June 30, 2014 (GLOBE NEWSWIRE) — via PRWEB – Petron Energy II, Inc. (“Petron II” or the “Company”) (PEII) Petron Energy II, Inc. gains operational approval on all of its Texas wells.

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, the transportation of natural gas through its pipeline subsidiary and well servicing through its servicing subsidiary. The Company’s operations are based in the United States.

Floyd Smith, President and CEO of Petron Energy II, Inc., states, “On March 28, 2014 we announced that we had completed all workovers and submitted all paperwork including our P-5 renewal application to the Texas Railroad Commission (RRC). On Friday June 27, 2014 the RRC approved our P-5 application, effectively clearing the way for all of our Texas wells to be returned to production. We are obviously very pleased to gain full approval from the RRC and will move immediately to return our Texas wells back to commercial production this week.” The company projects its Texas production should add and additional 8-10 barrels of oil per day. Smith goes on to say, “The next major phase of Texas operations will involve the design of our secondary recovery waterflood development plan for the Redder Lease. The Redder Lease is the last of our three largest leases planned for secondary recovery waterflooding procedures in our 2014 CAPEX budget.”

When all waterflood development plans have been implemented, the company projects the total daily oil production range of all three leases to be 125 — 200 barrels of oil per day. We will provide more updates as they become available.

NOTICE: This news release contains “forward-looking statements” (statements which are not historical facts) made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.