Mississauga, ON -- (SBWIRE) -- 07/06/2017 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled "Elite Group Roars 22.5% Higher On Two Purchase Agreements In Texas."
Companies mentioned in this article include Elite Group, Inc. (OTCPK:ELTZ).
Article Excerpt:
Investors are bidding up shares of Elite Group, Inc. (OTCPK:ELTZ) as the company signed purchase agreements for two properties in Texas. The first purchase agreement was to acquire a 75% working interest in a previously announced 2 well package in the Permian Basin of Texas. The company has arranged for $200,000 in debt financing for this acquisition, without increasing the number of outstanding shares.
Initial production from these wells is estimated at 20 barrels per day plus 350 – 400 MCFD, indicating a payout of approximately 12 months. The wells are both in the San Andres formation, at around 4500 feet in depth. This formation is a multi-billion barrel field in the Permian Basin.
The full version of this article can be found at:
http://www.allpennystocks.com/aps_us/special-reports/781/elite-group-roars-225-higher-on-two-purchase-agreements-in-texas.htm
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