Switching from the Solar Power business in Jamaica to the Oil and Gas Exploration business in the U.S., Tuesday marks the beginning of the penny stock of Blue Water Petroleum Corp. (BWPC). Changing its name and ticker from Degaro Innovations Corp. (DGRN), BWPC stock will be lead by Thomas Hynes who has extensive experience and expertise in developing early stage oil and gas exploration and development companies and building shareholder value. The mere fact that the term “building shareholder value” was even mentioned in the Hynes appointment forces anyone looking for a pre-pump position to have this on their watchlist.
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BWPC Stock Quote
Market Cap: 29.67M
Last (Thursday, Jul 18th): 0.58
Issued and Outstanding: 51,155,00
Thomas Hynes: 2,500,000
Sheryl Briscoe: 27,500,000
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Blue Water Petroleum has already started to beef up its stance by entering into a farmout agreement for 12,979.28 gross acres located in Big Horn County, Montana. The agreement called for $50,000 to be paid to Blue Water Petroleum LLC (the Farmor) and have Blue Water Petroleum Corp. complete the following by the end of 2013:
(i) Provide capital to deepen the existing 11-22 Tribal water well, and prepare for water production necessary for injection project;
(ii) Provide capital to conduct required EPA testing of the designated #51122 injection well, and prepare for injection operations;
(iii) Provide capital to drill two additional oil production wells, and prepare wells for oil production;
(iv) Provide capital for steam injection testing of designated injection well and 4 oil production wells (2 currently existing); and
(v) Drill and complete two permitted exploration wells, to a depth not to exceed 1,500 feet, in Sections 10 and 21, Township 5 South, Range 25 East in Big Horn County, Montana
Once those are in place, drilling of the scheduled injection well and 4 surrounding producing wells can begin on or before April 30, 2014 with steam injection operations on the wells beginning on or before August 31, 2014. Failure to complete the projects shall eliminate the company’s chances of earning their earned interest – the 12,979.28 gross acres.
Adding to Hynes, the Company appointed Frederick Taylor to the Company’s Board of Directors, effective July 15th. Taylor is what they call in Montana an “oil land man” with extensive experience in leasing State, BLM and Tribal lands in Montana, North Dakota, Wyoming and Texas.
What looks the part of a big campaign to come is the fact that Degaro Innovations Corp. has been filing 8K’s with the SEC each time they issue a press release so as not to get Blue Water Petroleum into hot water before BWPC even begins to trade. To comply with Canadian standards, they have also filed the studies by which the claims of recoverable oil and gas on the nearly 13,000 acres have been derived from. That should keep BWPC stock from following the suspension path of Polar Petroleum (POLR).
About BWPC Stock
Blue Water Petroleum Corp. is a development stage company in the renewable energy business and the exploration of conventional sources of energy such as oil and natural gas in the United States.
Last 5 Trading History:
BWPC is fresh and clean at this stage and should be on the list of penny stocks to watch for a possible promotion in Q3 or Q4. Everything looks to be on the up-and-up at present which could change when the Q2 filing is up and details of any financing arrangements can be reviewed since its going to take some cash to get operations up and running and BWPC stock is likely how that will occur.
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