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Operational Update on Snyder/Simon Secondary Recovery Project in Oklahoma

Operational Update on Snyder/Simon Secondary Recovery Project in Oklahoma

DALLAS, Texas, May 28, 2014 (GLOBE NEWSWIRE) — via PRWEB – Petron Energy II, Inc. (“Petron II” or the “Company”) (PEII) Petron Energy II, Inc. announces operational update on its Snyder/Simon Secondary Recovery project in Wagoner County, Oklahoma.

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., stated, “In our May 12, 2014 press release we announced that we had completed the drilling of our supply well and finalized installation of all high pressure flow lines and electrical to our injection wells. As we complete our final stage, one key component to a successful supply well is the stimulation treatment. Recently we received the recommended stimulation treatment proposal which once completed should provide us with the most optimal saltwater fluid levels for injection into the Dutcher reservoir. Achieving a maximum saltwater flow rate from the supply well is extremely crucial as we seek to increase reservoir pressure.” Smith further states, “Of course increasing reservoir pressure provides the best opportunity to produce the highest volume of oil per day. These are very exciting times at Petron II because once we have completed our final stage we will return this lease back to full production operations. Based on our engineering design for this project we estimate injecting gas and roughly 1,000 barrels of saltwater per day into the Dutcher reservoir over a period of several months. Once the reservoir has achieved its optimal level of pressure we anticipate a peak in sustained daily oil production levels, our analysis estimate the daily range to be 50 — 75BO/D. The Snyder/Simon lease is the first of three of our largest leases which we have budgeted for funding this year. The Edwards lease which is the second lease we have planned for secondary recovery development in our 2014 CAPEX budget is currently in the design phase with our engineers.” 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.