DALLAS, TEXAS : StockGuru announces that Nitro Petroleum Inc. (OTCBB: NTRO) is in the StockGuru Spotlight. Nitro Petroleum Incorporated is an independent, energy company engaged in the acquisition, exploitation and development of oil and natural gas properties in the United States and Canada. Nitro’s objective is to seek out and develop opportunities in the oil and natural gas sectors that represent a low risk opportunity. As well, Nitro aims to define larger projects that can be developed with Joint Venture partners.
On Tuesday, the company put out news announcing that the company has currently has a re-completion development project in progress on the McNeil # 1 well. The well has been re-equipped, perforated and stimulated. The company is planning on fracking this well within the next 10 days. The company is estimating this could add an additional $12,000 to $14,000 cash flow per month to the company income. The company has identified an additional development project on 4 of the company wells. This project will require change in production equipment on surface and sub-surface. We are currently discussing this project with our industry partners. We are estimating this project to be completed within the next 2 to 3 months. Estimated cost of this project is approximately $600,000 to $700,000.
Shares for Nitro Petroleum Inc. (OTCBB: NTRO) were steady during the late afternoon of trading on Tuesday and closed with no change at closing.
To view our StockGuru Spotlight on Nitro Petroleum Inc. (OTCBB: NTRO), please visit: http://www.stockguru.com/category/latest-spotlights/
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