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As of 8:10 PM 04/16/14 All times are local (Market data is delayed by at least 15 minutes).

conquest petroleum inc (CQPT) Snapshot

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01/29/14 - $0.25
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01/16/14 - $0.0014
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conquest petroleum inc (CQPT) Details

Conquest Petroleum Incorporated, an independent oil and natural gas company, engages in the production, acquisition, and exploitation of oil and natural gas properties on the onshore United States. It has approximately 32,000 acres under lease in the oil and natural gas field assets located in Louisiana and Kentucky. The company was formerly known as Maxim TEP, Inc. and changed its name to Conquest Petroleum Incorporated in August 2009. Conquest Petroleum Incorporated was founded in 2004 and is headquartered in Houston, Texas.

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conquest petroleum inc (CQPT) Key Developments

Conquest Petroleum Incorporated to Drill Well in Marion Field

Conquest Petroleum Incorporated plans to spud a well on or before June 17, 2012. Not only will the new well add to the production volume, but, the information gathered will be beneficial in proving that no drainage in undeveloped areas has taken place through offset existing wells. The company also has the rights to approximately 8,200 acres for the deeper Smackover/Brown Dense formation. The company has some seismic coverage over the acreage and there are indications of a positive anomaly on the lands. The anomaly exists 2 miles from a well that has tested 500 BOPD and 3MMCFD of gas from a zone thought to be the same as prospect. The offset operator is currently installing a pipeline to tie into a major gas transportation system. The Brown Dense is a Resource Play spread over southern Arkansas and North Louisiana. Among the options for monetization, the company will entertain a cash sale for the deep acreage.

Conquest Petroleum Mulls Acquisitions

Conquest Petroleum Incorporated has business plans of acquiring producing properties with upside potential, restoring wells on those properties to production, and drilling infill wells to capture reserves. The major areas of activity include two producing fields in North Louisiana and an acreage position in Kentucky.


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