IRVINE, Calif., Feb. 23, 2009 (GLOBE NEWSWIRE) -- The axiom 'Location, location, location' has been a staple of the business and real estate world for ages, expressing dogmatically the notion that nothing is more important than the actual locale of the venture. For oil and gas companies, the mantra may be even more critical.
This is perhaps best exemplified via a recent move by Bald Eagle Energy Inc. (OTCBB:BEEI) which acquired the exclusive right to drill for and produce oil and natural gas under six separate leases in Alaska's North Slope. A U.S. Department of Energy report released last year stated that through 2050, the North Slope could yield up to 36 billion barrels of oil and 137 trillion cubic feet of natural gas.
Moreover, the location is further enhanced by the leases' close proximity to the Trans Alaska Pipeline and the Dalton Highway, which logically should reduce operational costs and in effect lower the minimum field size required for commercial development relative to other parts of the North Slope. Clearly, the location of the leases in Alaska's intriguing North Slope and the serendipity of access to transportation of extracted oil perhaps best explains why Bald Eagle Energy has decided to focus entirely on its Alaskan initiatives.
While America's dependence on foreign oil may have momentarily decreased, it clearly has not disappeared. Neither has the call for increased domestic exploration and production to increase our energy independence. For Bald Eagle Energy and its shareholders, the company may well be positioned in the right place at the right time.
Bald Eagle Energy Inc. was formed in response to America's oil crisis with the purpose of working toward American energy independence. As a publicly traded Oil and Gas exploration company based in The Woodlands, Texas, Bald Eagle is also focused on building company and shareholder value with an eye on long-term growth.
For a StockUpTicks profile on BEEI please visit: http://stockupticks.com/profiles/1-25-09.html
The SmallCap Sentinel logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3664
Statements herein may contain forward-looking statements and are subject to significant risks and uncertainties affecting results. SmallCap Sentinel is property of Market Pathways Financial Relations Inc. (MP). MP provides no assurance as to the subject company's plans or ability to effect proposed actions and cannot project capabilities, intent, resources, or experience. The subject companies have not always approved the statements made in this report. This report is neither a solicitation to buy nor offer to sell securities but is for information purposes only and shouldn't be used as basis for any investment decision. MP isn't an investment advisor, analyst or licensed broker/dealer and this report isn't investment advice. MP has been paid $1,500 by Winning Media for preparation/distribution of this report and other advertising services. This constitutes a conflict of interest as to MP's ability to remain objective in communication regarding subject companies.