NEW BRAUNFELS, Texas, March 9, 2011 (GLOBE NEWSWIRE) -- Baron Energy, Inc. (Pink Sheets:BROE) ("Baron" or the "Company"), an independent oil and gas company, announced today that its production enhancement program is now complete. Production has been increased by approximately 80% since the beginning of the year.
Management Comments
Ronnie L. Steinocher, President and CEO, said, "This wraps up Phase-3 of our production enhancement program that we started in December last year. Severe winter weather conditions in January and February caused substantial delays in our field work but we were finally able to complete the program with excellent results."
"In December we divested of some of our non-operated properties as we continue to move the Company to operated only properties. This production enhancement program has now replaced most of the production sold," Steinocher added.
About Baron Energy, Inc.
Baron Energy, Inc. (Pink Sheets:BROE) is an independent oil and gas production, exploitation, and exploration company headquartered in New Braunfels, Texas with producing assets in the prolific oil producing Permian Basin of West Texas.
Baron owns production that is 100% oil, both operated and non-operated, with working interest ranging from 12.5% to 100% in oil fields located in Baylor, Jones, Runnels, Scurry, and Taylor Counties, Texas.
Baron's growth strategy centers on making accretive producing property acquisitions located in its core operating area in West Texas. The Company targets properties that have oil production with upside development potential.
For more information, please visit www.baronenergy.com.
Forward-Looking Statement
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "potential," "intend," and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Baron Energy, Inc. (the "Company") to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov, including the Company's Annual Report on Form 10-K filed on October 29th, 2009. The Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.