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ABL - Abilene Oil and Gas

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Re: WLR - World Oil Resources

Could be somethink indications in ASX ann today . This will be avoided due to companies past in Brazil. Could well change over night .dyor ,worth looking at .

Dont hold WLR
 

springhill

Make the drill work for YOU
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Re: WLR - World Oil Resources

MC - $5.5m
SP - 1.4c
Shares - 390m
Options - NQ
Cash - $975k

June Quarter Highlights:
• Socrates 1H fracced and completed with production testing underway, Welch Bornholdt Wherry Oil Field, Kansas. WLR holds a 50% NWI in approximately 15,000 acres covering this field.
• 9% increase in oil production compared to previous quarter at Klick East Oil Field, Oklahoma

Klick East Oil Field
Woods County, Oklahoma USA (WLR 49.2% WI)
The Company’s gross revenue from production was $154,738, which includes oil sales for March, April and May as oil accounts are settled in the month after the month of production. Additional income was received from an insurance settlement and this is reflected in the Appendix 5B.
Joint venture production for this period was 3,856 Barrels and 17,213 mscf of gas. World Oil Resources Limited has a 40% share of this production after royalties. Oil production volumes were 9.3% higher than the previous quarter and gas production volumes were 24% higher.
World Oil Resources Limited and CMX Inc (“CMX”) each own a 49.2% NWI in Klick East which comprises 320 acres. CMX is the operator and Chesapeake Energy owns the remaining 1.6% NWI.

Wherry and Welch-Bornholdt Oil Fields
Rice and McPherson Counties, Kansas USA (WLR 50% WI)
The Socrates 1H well was fracced and completed for production. Oil and reservoir fluid were being recovered at surface. However mechanical issues with the pump have meant that only approximately 10% of the frac fluid has been returned, which is in-sufficient to determine an initial flow rate for the well.
World Oil Resources Limited holds a 50% net working interest in approximately 15,000 acres (60.6 square kilometres) covering the field in Rice and McPherson Counties. CMX holds the remaining 50% NWI in the acreage and is operator.

Gavea Joint Venture, Sergipe-Alagoas Basin on-shore Brazil

• Harpia Oil Field (WLR 40%)
• Guara Oil Field - Previously Block 430, Tatu Discovery (WLR 40%)
Brazil’s oil industry regulator the ANP reports regularly to the public on the status of production and development licences in the country. The Harpia and Guara oil fields (WLR 40%) continue to be reported, respectively, as production and development licences.
 

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On December 12th, 2014, World Oil Resources Limited (WLR) changed its name and ASX code to Abilene Oil and Gas Limited (ABL).
 
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