Xtreme Oil & Gas Achieves Excellent Drilling Results on Texas Property

Xtreme Oil & Gas Achieves Excellent Drilling Results on Texas Property

 

August 25, 2011 10:53 AM ET.

 

Xtreme Oil & Gas, Inc. (OTCBB: XTOG) (OTCQB: XTOG) announced today that after completing the drilling of three new wells on the Company’s West Thrifty property in Brown County Texas, those wells achieved a 50-90% oil cut on their initial production. An oil cut is the percentage of oil in the total fluids that are produced by the well. These are excellent initial results for shallow wells in this area. In addition, the Company completed acidizing all of the wells and have finalized the pressure calculations for injection in this project.

 

Willard G. McAndrew III, CEO of Xtreme, commented, “By using a targeted water-flooding methodology within our 1,200 acre Texas property, we expect to produce 50-100 barrels of oil per day from this project and there is room for an additional 60+ wells to be drilled or reworked. We do not expect to maintain such high oil cut percentages when we are in full production but these initial results are very encouraging. In addition we are proceeding with reworking additional nearby wells to increase oil production on this project.”

 

Xtreme Oil & Gas, Inc. is a rapidly growing Dallas-based independent energy company engaged in the exploration, development, acquisition, and production of crude oil and natural gas with operations from properties it owns in Texas, Oklahoma, and Kansas.

 

Statements included in this release related to Xtreme Oil & Gas, Inc. constitute or may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as the inherent uncertainty of finding and developing oil and gas properties, the technological and financial difficulties inherent in these activities, the price of hydrocarbons and the Company’s ability to estimate accurately net revenues due to variability in size, scope and duration of projects. Further information on potential risk factors that could affect the Company’s financial results can be found in the Company’s reports filed with the Securities and Exchange Commission.

 

Xtreme Oil & Gas, Inc.
(214) 432-8002
www.xtoginc.com

Xtreme Oil & Gas Receives Letter of Intent for 10,000 Barrels/Day of Saltwater Disposal

August 22, 2011 09:15 ET

 

Xtreme Oil & Gas Receives Letter of Intent for 10,000 Barrels/Day of Saltwater Disposal

 

PLANO, TX–(Marketwire - Aug 22, 2011) - Xtreme Oil & Gas, Inc. (OTCBB: XTOG) (OTCQB: XTOG) announced today that the Company has received a Letter of Intent from AMEREX Resources, a company that has specifically been active in Central Oklahoma since the late 1970s, to dispose of 10,000 barrels per day of saltwater in Xtreme’s Oklahoma commercial disposal well. AMEREX has been hauling water in the area for six years from fifty of its affiliated medium and small size oil and gas wells in the area. During the first full year of operations, Xtreme expects this well to generate over $5 Million in top-line operating revenue to all investors in the project. In addition, AMEREX has agreed to help form alliances with other producers in the area for additional volumes and additional commercial disposal wells.

 

Willard G. McAndrew III, CEO of Xtreme, 4th generation former Exxon employee, commented, “Production in this area is booming and with it, the need to dispose of saltwater. Our well is the closest environmentally responsible way for some operators to dispose of their waste water and is conveniently located in an industrial area on a major highway for easier large truck access that will help reduce costs and our transportation times. We expect this project to bring strong cash flows to our Company when we begin disposal.”

 

Xtreme Oil & Gas, Inc. is a rapidly growing Dallas based independent energy company engaged in the exploration, development, acquisition, and production of crude oil and natural gas with operations from properties it owns in Texas, Oklahoma, and Kansas.

 

Statements included in this release related to Xtreme Oil & Gas, Inc. constitute or may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as the inherent uncertainty of finding and developing oil and gas properties, the technological and financial difficulties inherent in these activities, the price of hydrocarbons and the Company’s ability to estimate accurately net revenues due to variability in size, scope and duration of projects. Further information on potential risk factors that could affect the Company’s financial results can be found in the Company’s reports filed with the Securities and Exchange Commission.

 

Contact Information
Xtreme Oil & Gas, Inc.
(214) 432-8002
www.xtoginc.com

Xtreme Oil & Gas Announces Second Consecutive Profitable Quarter

Xtreme Oil & Gas Announces Second Consecutive Profitable Quarter

 

August 15, 2011 9:10 AM ET.

 

Xtreme Oil & Gas, Inc. (OTCBB: XTOG) (OTCQB: XTOG) announced its quarterly results today reporting a profit of $0.02 per share for the quarter versus a loss of $0.05 per share during the same quarter in 2010. The Company’s quarterly revenue was $1,253,968 from oil sales and project completion with net income of $694,486 versus a loss of $1,903,518 during the same quarter in 2010. For the six months ending June 30, 2011, Xtreme reported a profit of $0.03 per share for the half versus a loss of $0.09 per share during the same period in 2010. The Company’s six month revenue was $2,271,223 from oil sales and project completion with net income of $1,149.045 versus a loss of $3,672,556 during the same period in 2010.

 

Willard G. McAndrew III, CEO of Xtreme, (4th generation former Exxon employee), commented, “Our second consecutive profitable quarter is truly a milestone for Xtreme. With our projects nearing completion, an experienced management team and our diversity of reserves across properties in Kansas, Oklahoma and Texas, we are well positioned for future growth and to contribute America’s energy independence goals.”

 

Xtreme Oil & Gas, Inc. is a rapidly growing Dallas-based independent energy company engaged in the exploration, development, acquisition, and production of crude oil and natural gas with operations from properties it owns in Texas, Oklahoma, and Kansas.

 

Statements included in this release related to Xtreme Oil & Gas, Inc. constitute or may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as the inherent uncertainty of finding and developing oil and gas properties, the technological and financial difficulties inherent in these activities, the price of hydrocarbons and the Company’s ability to estimate accurately net revenues due to variability in size, scope and duration of projects. Further information on potential risk factors that could affect the Company’s financial results can be found in the Company’s reports filed with the Securities and Exchange Commission.

 

Xtreme Oil & Gas, Inc.
(214) 432-8002
www.xtremeoilandgas.com

Xtreme Oil & Gas Announces First Profitable Quarter

Xtreme Oil & Gas Announces First Profitable Quarter

 

PLANO, TX, May 16, 2011 (MARKETWIRE via COMTEX) — Xtreme Oil & Gas, Inc. (OTCBB: XTOG) (OTCQB: XTOG) announced its quarterly results on Friday. The company reported a profit of $0.01 per share for the quarter versus a loss of $0.04 per share during the same quarter in 2010. The company’s quarterly revenue was $1,017,255 from oil sales and project completion with net income of $454,559 versus a loss of $1,769,038 during the same quarter in 2010.

 

Willard G. McAndrew, CEO of Xtreme, commented, “We have a smooth process that allowed us to post each of our last six filings on time or early. Xtreme has made significant progress this past year as a public company completing an S-1 registration statement, a 15C-211 filing with FINRA, three quarterly reports and one year-end report. Operationally we have completed drilling our first 5-Star waterflood project on the West Thrifty property in Texas, completed drilling the first Commercial Saltwater Disposal well in Oklahoma, acquired over 8,500 acres with 10,000,000 barrels of recoverable oil in Kansas, and acquired an interest in a producing property in Oklahoma. As soon as we receive final regulatory approval, all of those projects will begin generating revenues. Launching our saltwater disposal business is an important element of our business plan and nicely balances exploiting our 15,000,000 barrels of recoverable oil on over 10,000 acres in Texas, Oklahoma, and Kansas.”

 

Xtreme Oil & Gas, Inc. is a rapidly growing Dallas-based independent energy company engaged in the exploration, development, acquisition, and production of crude oil and natural gas with operations from properties it owns in Texas, Oklahoma, and Kansas.

 

Statements included in this release related to Xtreme Oil & Gas, Inc. constitute or may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as the inherent uncertainty of finding and developing oil and gas properties, the technological and financial difficulties inherent in these activities, the price of hydrocarbons and the Company’s ability to estimate accurately net revenues due to variability in size, scope and duration of projects. Further information on potential risk factors that could affect the Company’s financial results can be found in the Company’s reports filed with the Securities and Exchange Commission.

 

Xtreme Oil & Gas, Inc.
(214) 432-8002
www.xtremeoilandgas.com

Southwest Investment Association (SWIA) Welcomes Presenting Companies for the Saturday, May 14th Capital Conference at Cantina Laredo in Frisco, TX

Southwest Investment Association (SWIA) Welcomes Presenting Companies for the Saturday, May 14th Capital Conference at Cantina Laredo in Frisco, TX

 

May 13, 2011 11:44 AM ET

 

The SWIA will be holding their fifteenth conference this Saturday at Cantina Laredo in Frisco, Texas. To register as an attendee please visit www.swiaconferences.com. The address for Cantina Laredo is 1125 Legacy Drive, Frisco, TX 75034 (214 618-9860). The networking breakfast and registration will begin at 8:00 am with the first company presentation starting at 9:00 am and will run in twenty minute segments until 12:00 pm. Lunch will run from 12:00-1:00 pm at which time the conference will conclude.

 

A list of presenting companies are as follows:

 

Voice Assist, Inc. (OTCBB: VSST) http://www.voiceassist.com/
Xtreme Oil & Gas (OTCBB: XTOG) http://xtremeoilandgas.com/
Elevate, Inc. (OTCBB: HGLB) A wholly owned subsidiary of Highland Business Services
TexCom, Inc. (PINKSHEETS: TEXC) http://www.texcomresources.com/
GWG Life (private) http://gwglife.com/
LaserStim, Inc. (private)
American Trustee, Inc. (private)
YamHill Valley Vineyards (private) www.yamhill.com

 

About Southwest Investment Association:
The Southwest Investment Association (”SWIA”) was formed to help select companies share information and present investment opportunities. The SWIA assists small to mid-sized emerging-growth public and private companies in gaining exposure and creating funding awareness. SWIA conferences are intended to provide FINRA broker/dealers, investment bankers, investment advisors, analysts, financial managers, fund managers, institutions, media and accredited investors with a forum for networking and communication. For more information or to register for the May 14th, 2011 Capital Conference please visit www.swiaconferences.com.

 

Contact:
Steve Jones
Email Contact
972 712-1039 phone

Xtreme Oil & Gas Completes Third Party Valuation of $102 Million

August 17, 2011 11:16 ET

 

Xtreme Oil & Gas Completes Third Party Valuation of $102 Million

 

PLANO, TX–(Marketwire - Aug 17, 2011) - Xtreme Oil & Gas, Inc. (OTCBB: XTOG) (OTCQB: XTOG) announced today that over the last 18 months, the Company has been successful in filing with the Securities & Exchange Commission a Form 10 and a S-1 Registration Statement (both approved), a 15C-211 with FINRA through Spartan Securities (approved), three years of Audited Financials and as part of the process of becoming a fully reporting company updated and completed a third party private valuation that concluded the Company was worth $102,520,900 or $2.24 per share today.

 

The valuation was performed using several methods including discounted cash flow, price to earnings based on market comparable data, and book value. The results from each method were combined and averaged to determine a fair value for the Company.

 

Willard G. McAndrew III, CEO of Xtreme, (4th generation former Exxon employee), commented, “We have made substantial and steady progress executing our business model, bringing projects online, and acquiring assets for our Company. With a number of projects nearing completion, our experienced management team, and increased reserves, we are closer to generating significant oil production and saltwater disposal bringing additional returns to our shareholders.”

 

Xtreme Oil & Gas, Inc. is a rapidly growing Dallas-based independent energy company engaged in the exploration, development, acquisition, and production of crude oil and natural gas with operations from properties it owns in Texas, Oklahoma, and Kansas.

 

Statements included in this release related to Xtreme Oil & Gas, Inc. constitute or may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as the inherent uncertainty of finding and developing oil and gas properties, the technological and financial difficulties inherent in these activities, the price of hydrocarbons and the Company’s ability to estimate accurately net revenues due to variability in size, scope and duration of projects. Further information on potential risk factors that could affect the Company’s financial results can be found in the Company’s reports filed with the Securities and Exchange Commission.

 

Contact Information:

 

Xtreme Oil & Gas, Inc.
(214) 432-8002
www.xtremeoilandgas.com

Xtreme Oil & Gas Completes Drilling Saltwater Disposal Well in Oklahoma

Xtreme Oil & Gas Completes Drilling Saltwater Disposal Well in Oklahoma

 

PLANO, TX, May 09, 2011 (MARKETWIRE via COMTEX) — Xtreme Oil & Gas, Inc. (OTCBB: XTOG) (OTCQB: XTOG) announced today it has drilled its first commercial Saltwater Disposal Well in Oklahoma into the Arbuckle formation.
Since drilling has been completed, all required information has been filed with the Oklahoma Corporate Commission for them to issue final approval on the permit. Upon receiving that approval, Xtreme will move rapidly to complete the surface equipment and begin disposing of saltwater.

 

Commercial saltwater disposal is complementary to the Company’s oil production operations and it expects this business will generate about 50% of XTOG’s revenues during the next five years as it expands disposal operations across its properties.

 

Willard G. McAndrew, CEO of Xtreme, commented, “We believe commercial saltwater disposal coupled with oil production operations is a unique combination for a public company business model. Disposal wells have inherently lower risk because we do not need to find oil or gas. Launching our saltwater disposal business is an important element of our business plan and nicely balances exploiting our 15,000,000 barrels of recoverable oil on over 10,000 acres in Texas, Oklahoma, and Kansas.”

 

Xtreme Oil & Gas, Inc. is a rapidly growing Dallas-based independent energy company engaged in the exploration, development, acquisition, and production of crude oil and natural gas with operations producing oil and gas from properties it owns and operates in Texas, Oklahoma, and Kansas.

 

Statements included in this release related to Xtreme Oil & Gas, Inc. constitute or may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as the inherent uncertainty of finding and developing oil and gas properties, the technological and financial difficulties inherent in these activities, the price of hydrocarbons and the Company’s ability to estimate accurately net revenues due to variability in size, scope and duration of projects. Further information on potential risk factors that could affect the Company’s financial results can be found in the Company’s reports filed with the Securities and Exchange Commission.

 

Contact:
Xtreme Oil & Gas, Inc.
(214) 432-8002
www.xtremeoilandgas.com

Xtreme Oil & Gas Completes 5 Well Drilling Program on Texas Property

Xtreme Oil & Gas Completes 5 Well Drilling Program on Texas Property

 

PLANO, TX, May 03, 2011 (MARKETWIRE via COMTEX) — Xtreme Oil & Gas, Inc. (OTCBB: XTOG) (OTCQB: XTOG) announced today it has completed its first 5-well drilling program on the West Thrifty Property in Brown County, Texas.

 

Xtreme’s newest project on this property targets expected oil rich areas of the property and focuses three injection wells near two producing wells. Xtreme will inject high pressure saltwater in close proximity to the production wells to wash oil to the surface.

 

The Company expects this targeted waterflooding methodology will be implemented across the 1,200 plus acres potentially deploying over 20 of these 5-spot patterns during the next five years in an effort to exploit the 4,500,000 barrels of recoverable oil the engineering reports show to be on this property.

 

Willard G. McAndrew, CEO of Xtreme, commented, “Xtreme spent the past year understanding the geology of this property and consulting with our geologic and engineering experts targeting what everyone believes is a high value area. Production will begin upon receiving the final injection approval from the Railroad Commission of Texas.”

 

Exploiting these potential reserves in Texas, coupled with the Company’s latest 8,500 acre acquisition in Kansas, gives Xtreme over 15,000,000 barrels of recoverable oil on over 10,000 acres in Texas, Oklahoma, and Kansas.

 

Xtreme Oil & Gas, Inc. is a rapidly growing Dallas-based independent energy company engaged in the exploration, development, acquisition, and production of crude oil and natural gas with operations producing oil and gas from properties it owns and operates in Texas, Oklahoma, and Kansas.

 

Statements included in this release related to Xtreme Oil & Gas, Inc. constitute or may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as the inherent uncertainty of finding and developing oil and gas properties, the technological and financial difficulties inherent in these activities, the price of hydrocarbons and the Company’s ability to estimate accurately net revenues due to variability in size, scope and duration of projects. Further information on potential risk factors that could affect the Company’s financial results can be found in the Company’s reports filed with the Securities and Exchange Commission.

 

Contact:
Xtreme Oil & Gas, Inc.
(214) 432-8002
www.xtremeoilandgas.com

Xtreme Oil & Gas Acquires Interest in Producing Well

Xtreme Oil & Gas Acquires Interest in Producing Well

 

PLANO, TX, Apr 27, 2011 (MARKETWIRE via COMTEX) — Xtreme Oil & Gas, Inc. (OTCBB: XTOG) (OTCQB: XTOG) announced today it has acquired a minor working interest in a well producing initially over 400 barrels of oil per day and over 950,000 cubic feet of gas per day. Xtreme agreed to purchase the working interest for 15,000 shares of restricted common stock from one of its partners, further strengthening their relationship.

 

This newest project verifies their recent geologic studies in the area and they expect this well to produce 200,000 barrels of oil and 500 Million cubic feet of gas during its lifetime. Xtreme and its partners will continue to seek additional working interest and to participate in leasing acreage in the area to continue to exploit these resources.

 

Willard G. McAndrew III, CEO of Xtreme, commented, “This acquisition represents another step in our expending relationships and gives us a new series of leases to explore in what we hope to be a prolific formation that responds well to today’s drilling and recovery technologies.”

 

Xtreme Oil & Gas, Inc. is a rapidly growing Dallas-based independent energy company engaged in the exploration, development, acquisition, and production of crude oil and natural gas with operations producing oil and gas from properties it owns and operates in Texas and Oklahoma.

 

Statements included in this release related to Xtreme Oil & Gas, Inc. constitute or may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as the inherent uncertainty of finding and developing oil and gas properties, the technological and financial difficulties inherent in these activities, the price of hydrocarbons and the Company’s ability to estimate accurately net revenues due to variability in size, scope and duration of projects. Further information on potential risk factors that could affect the Company’s financial results can be found in the Company’s reports filed with the Securities and Exchange Commission.

 

Contact:
Xtreme Oil & Gas, Inc.
(214) 432-8002
www.xtremeoilandgas.com

Xtreme Oil & Gas to Present at RedChip Virtual Equities Conference

Xtreme Oil & Gas to Present at RedChip Virtual Equities Conference

 

PLANO, TX–(Marketwire - 04/19/11) - Xtreme Oil & Gas, Inc. (OTC.BB:XTOG - News) (Pinksheets:XTOG - News) (”Xtreme”) today announced that it will present at the RedChip Small-Cap Equities Virtual Conference to take place April 19-20, 2011.

 

Willard G. McAndrew III, CEO of Xtreme, is scheduled to present on Wednesday, April 20, 2011 at 1:15 p.m. EDT. Following the presentation, investors will have the opportunity to speak one-on-one with Mr. McAndrew during a 15-minute question-and-answer session. The online presentation will be webcast live at http://www.RedChip.com and will be archived for a minimum of 30 days.

 

RedChip’s virtual investor conferences are offered throughout the year and feature publicly traded companies from a wide range of industries including oil & gas, alternative energy, biotechnology, manufacturing, industrial mining, basic materials, business software, construction, Internet services, consumer goods, and more. For more information, or to register to attend the RedChip Small-Cap Equities Virtual Conference, please visit Red Chip’s website.

 

Xtreme Oil & Gas, Inc. is a rapidly growing Dallas-based independent energy company engaged in the exploration, development, acquisition, and production of crude oil and natural gas with operations producing oil and gas from properties it owns and operates in Texas and Oklahoma.

 

Forward-Looking Statements

 

Statements included in this release related to Xtreme Oil & Gas, Inc. constitute or may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as the inherent uncertainty of finding and developing oil and gas properties, the technological and financial difficulties inherent in these activities, the price of hydrocarbons and the Company’s ability to estimate accurately net revenues due to variability in size, scope and duration of projects. Further information on potential risk factors that could affect the Company’s financial results can be found in the Company’s reports filed with the Securities and Exchange Commission.

 

Contact:
Xtreme Oil & Gas, Inc.
(214) 432-8002
http://www.xtremeoilandgas.com

Next Page »