American Liberty Petroleum Corp. (OTCBB: OREO.OB; herein after "American Liberty" and/or "the Company") is pleased to announce that on April 27, 2012, it signed an engagement letter with Netherland, Sewell & Associates Inc. ("NSAI") – an oil and gas consulting services firm that provides a complete range of geological, geophysical, petrophysical, and engineering services – to perform consulting petroleum engineering work. In particular, NSAI will provide consulting services as needed to assist the Company in determining its next steps in the development of its Nevada-based Cortez operation.
The two wells located on the 3,840-acre Cortez lease (Cobble Cuesta 1-12 and Paradise 2-12) are situated on the Cobble Cuesta structure, a 12-mile by 5-mile faulted anticline that appears to be positioned to receive oil migrated from deeper areas in the eastern part of Gabbs Valley . The Cobble Cuesta 1-12 well was drilled on the Cobble Cuesta structure’s crestal area in 2006-2007 and had shows of live hydrocarbons. The Paradise 2-12 well was drilled in 2010, resulting in numerous fair to good quality oil and gas shows, and a drillstem test that recovered 87 feet of oil with pressure data indicating a low permeability oil reservoir.
American Liberty Petroleum's President, Alvaro Vollmers, commented: "NSAI represents the range and depth of experience needed to help us identify the best course of action to further develop the Cortez operation. By working together, we'll be able to quickly move forward with our development activities in an informed and cost-effective manner.”
"indicating a low permeability oil reservoir."
That means it's going to be REAL HARD to get that oil to the surface which is probably why nothing has been done since 2010. Wow, all these great prospects but NO DRILLING because they don't have a clue what to do?? Give us more consultation while we sell more worthless stock!