SAN MARCOS, Texas, July 05, 2016 (GLOBE NEWSWIRE) -- Baron Energy, Inc. (Pink Sheets:BROE) (“Baron” or the “Company”), an independent crude oil and natural gas company, has provided a mid-year update on its operations.
Management Comments
Ronnie L. Steinocher, President and CEO, said, “We have completed our transition from direct ownership in oil and gas assets to business development and petroleum management. This fee-based model provides greater diversity and flexibility in the generation of revenue and allows us to leverage the extensive experience of our management team.”
Mr. Steinocher added, “In late 2015, we began assisting various clients in acquiring and managing oil and gas assets in South Texas. We have now coordinated the closing of five producing property acquisitions on behalf of our clients. Baron is the operator of these properties. We are currently completing due diligence on another 3-5 potential acquisitions for our clients, which Baron will operate. Our goal is to build a portfolio of producing properties over the next three years that has substantial value and then, pending market conditions, monetize the portfolio.”
Additional information about Baron Energy and its’ South Texas Project can be found on the Company’s website.
About Baron Energy, Inc.
Baron Energy, Inc. (Pink Sheets:BROE) is an independent crude oil and natural gas acquisition, production, and exploitation company headquartered in San Marcos, Texas, managing producing assets in South Texas.
For more information, please visit www.baronenergy.com.
Forward-Looking Statement
Certain statements in this press release that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as “anticipate,” “believe,” “expect,” “future,” “may,” “will,” “would,” “should,” “plan,” “projected,” “potential,” “intend,” and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Baron Energy, Inc. (the “Company”) to be materially different from those expressed or implied by such forward-looking statements. The Company’s future operating results are dependent upon many factors, including risk factors discussed in the Company’s periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.