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Oracle Energy Corporation:
Searching For Oil Around The World
by Glenn Wilkins - AllPennyStocks.com News Reporter
August 28, 2006 (AllPennyStocks.com Media, Inc.) - In the ever
competitive world of energy, one Vancouver based company is
raising eyebrows and expectations as it establishes itself.
That company is Oracle Energy Corporation
(TSX Venture: OCL), a junior energy company active in the
exploration and development of oil and gas projects
internationally. Oracle is placing its stamp on world markets
by exploring and drilling in countries off the beaten track.
A number of investment periodicals remain bullish on oil
prices over the next few years, and are firmly convinced that
the companies that flourish during this period will be well
diversified geographically.
Oracle not only has an interest in large blocks in the
famously oil rich middle-east (Yemen) and South America
(Peru); but is also poised to drill in significant hydrocarbon
producing countries in Europe (Romania and Italy).
The company holds a 20% interest in 6 oil and gas fields in
Romania with Carpathian Energy as operator. An engineering
report on three of the 6 fields assigned a proven and probable
net reserve of 240,000 stock tank barrels of crude oil and
more than 1.7 billion cubic feet of gas. This does not include
the upside of proving on extensions to the existing pools,
additional zones of interest and further discoveries. One of
these fields is projected soon to be producing gas and natural
gas liquids some time this year, which is the start of
sustainable cash flow for years to come.
The company's Peruvian asset is 15% of Area 13 in the
Maranon basin which geologists believe has generated up to 137
billion barrels of oil. Any drilling will likely be towards
massive targets of 100 million plus barrels. The Maranon
remains one of the last underdeveloped elephant hunting
grounds.
Oracle Energy also owns a 20 % interest in the Fiumme
Arrone permit in Italy which is scheduled to be drilled this
October. Teamed with partners, JKX petroleum, Ascent
Resources, and Italmin Exploration, the goal is to
commercialize gas shows which were encountered during the
building of Rome's Fiumicino airport in 1955.
In Yemen, Oracle is teamed with proven oil finders Yemen
Mayfair Petroleum whose principals were instrumental in the
very first giant oil discovery in Yemen as geologists for Hunt
Oil. The current play, (Fatima) is modeled after a discovery
to the north in Saudi Arabia. It targets a prize of up to 200
million barrels and is scheduled for a fall drilling. Last
years high of $1.36 rode upon a similar size play on a
different part of the block.
President Nasim Tyab brings more than 15 years experience
with public companies, including six in the oil and gas
sector. He has raised all of the necessary capital to date for
Oracle Energy in addition to negotiating its business
agreements. Chief Financial Officer Loren Currie has been
involved in the public market for 18 years. Technical Director
Dr. Robert McTavish is a geologist and has a 35 year career
with companies such as Conoco and West Australia Petroleum and
has also held directorships with other such companies. Oracle
has a fairly small float of about 35 million shares
outstanding and currently trades on the Toronto Venture
Exchange (0CL), on Frankfurt (O2E ) and the Pink Sheets (OECPF).
With drilling and reworks to commence shortly on three
exciting fronts the market might soon be giving this junior
lots of attention; and if all or even just one were to hit...
then Oracle Energy may well prove to be a company worth
watching.
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