Petro River Oil Corp. (OTCBB: PTRC) is an independent energy company focused on the exploration and development of conventional oil and gas assets. Having just completed a corporate reorganization, including the addition of new management, the acquisition of several promising new assets, and an infusion of cash, Petro River is taking advantage of the downturn in oil prices to enter highly prospective plays with industry-leading partners. Diversification over a number of projects, each with low initial capital expenditures and strong risk reward characteristics, reduces risk and provides cross-functional exposure to a number attractive risk adjusted opportunities.
Presently, Petro River’s core holding is in the Mid-Continent Region in Oklahoma. Following the closing of our acquisition of Horizon I Investments, LLC, anticipated to be completed in April 2016, Petro River will hold a 20% equity interest in Horizon Energy Partners, LLC (“Horizon”). Pending the close of several acquisitions by Horizon, our combined portfolio of assets, both directly owned and through our investment in Horizon, will include several highly attractive oil and gas assets located in:
A common theme underlying each project is the application of modern technology, primarily through the acquisition, processing and specialized interpretation of 3D seismic data, to better delineate opportunities and improve well placement in order to increase the success rates and economic ultimate recovery. By applying state of the art technology in combination with local and global expertise and industry know-how, Petro River is well positioned to effectively and efficiently exploit hydrocarbon-prone resources to build reserves and to create value for the Company and its shareholders.
While other energy companies are playing defense, turning off production, slashing exploration budgets and facing balance sheet issues, we are able to play offense, thanks in part to our recent investment in Horizon. We have taken advantage of this low priced oil environment to close on our key strategic initiatives, positioning the company for growth through our newly acquired and potentially lucrative domestic and international assets; seasoned management team, and a recapitalized balance sheet.
Scot Cohen, Executive Chairman