S&P Capital IQ Initiates Coverage on Marksmen Energy, Inc. in Standard & Poor’s Factual Stock Reports
NEW YORK--(BUSINESS WIRE)--S&P Capital IQ announced today that it has commenced Standard & Poor’s Factual Stock Report coverage on Marksmen Energy Inc.
Marksmen Energy Inc. (MAH: TSX-V) is an emerging light oil player, with a new management team with a positive track record in exploring and developing conventional assets in regions with proven oil production. The Company is focused on bringing modern exploration tools into under explored basins with minimal existing competition. Marksmen is currently pursuing a number of projects in NW Ohio and Michigan which have excellent potential for low cost, high reward oil targets.
Marksmen is pursuing two distinct geological formations that can be found at shallow drilling depths with low cost drilling and completions, without the need for hydraulic fracturing. These formations generate high quality light oil which sells for a minimal discount to West Texas Intermediate crude oil prices. These sales prices combined with low land, capital and operating costs, guarantee high profitability and an excellent rate of return.
The Company’s first project comprises ownership of 49.5% of a US private operating company that owns a land base of 12,500 acres with some 2D and 3D seismic coverage. The project consists of a number of existing vertical wells and two recently drilled horizontal wells both of which had significant oil and gas shows at surface during drilling. Opportunities exist for production enhancement through recompletion, improved operating practices and additional drilling.
More importantly, Marksmen is now making the transition to a full operating entity and has assembled a complete engineering, land and geo-technical team based in Calgary, Alberta and Columbus, Ohio. The Company is currently engaged in a thorough geological mapping project which will be combined with state of the art airborne high resolution, gravity and magnetic surveys. These programs will allow for optimal placement of 3D seismic for final drilling target selection. The current availability of large amounts of relatively inexpensive acreage provides Marksmen with an excellent opportunity to commence an aggressive land acquisition strategy.
The President and CEO, Stephen Gibson stated that ‘Marksmen is expecting superior economic returns to be generated from its Ohio projects based on a combination of reasonable acreage costs, and low operating and royalty expense that results in high per barrel net-backs. Simply put, Marksmen is bringing new technology and best practices to the redevelopment of a previously world class oil and gas basin located in the American heartland. The quality of the reservoirs we are seeking means that we can carry out our operations without the need for hydraulic fracturing’.
On the corporate front Marksmen is now in the process of obtaining a United States public market listing on the OTC-QX Exchange. This program is being undertaken to enhance market awareness while facilitating Marksmen’s ability to attract both retail and institutional investment in the United States. The Standard and Poor’s Factual Stock Report is an important first step in the process of becoming listed in the United States. We anticipate completion of this listing process in the second quarter. In association with these initiatives Marksmen has scheduled participation in a number of investment conferences over the next few months in New York and California.
The new Marksmen team is looking forward to accelerating its new business plan which is designed to capture a significant land base and unlock the tremendous potential of this under explored area of the United States. As a publicly traded entity, maximizing shareholder value in a safe and environmentally responsible way is at the core of its mandate.
Standard & Poor’s Factual Stock Report coverage on Marksmen Energy Inc. will also be accessible on an ongoing basis to the investment community by scores of buy-side institutions and sell-side firms that utilize S&P Capital IQ research and information platforms daily. Millions of self-directed investors also have access to the report via their e-brokerage accounts. Please visit http://www.marksmen.ca for additional information.
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Currently profiling over 500 issuers, Standard & Poor’s Factual Stock Reports, produced by S&P Capital IQ, increase market awareness of issuers in the investment community with insightful commentary and key statistics and information. Standard & Poor’s Factual Stock Reports provide factual research coverage about company fundamentals and business prospects, thereby enabling information about covered companies to reach a wide investor audience of Buy and Sell-side investors. Updated weekly with the latest pricing, trading volume, and other data, the reports include recent developments, a financial review, key operating information, industry and peer comparisons, institutional holdings analysis, Street Consensus and opinions, performance charts, business summary, fundamental data, and news. Because coverage of these reports is underwritten by the issuer, S&P Capital IQ does not offer investment opinions concerning the advisability of investing in these stocks.
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