Green Star Energies Releases Its Operational Plan for Crows Run
Green Star Management Is Pleased to Announce Crows Run Has Powered On
Feb 4, 2009 11:00:00 AM
View Additional ProfilesVANCOUVER, WA -- (MARKET WIRE) -- 02/04/09 -- Green Star Energies, Inc. (PINKSHEETS: GSRE) announces today that they have released their Operations Plan for Crow Run Project (CRP) which includes all details on step-by-step development, financing needs for such development, and management's conceptual revenue projections once the project is producing at full capacity.
OPERATIONS - At the time of this release, Green Star has engaged Duquesne Light to provide electricity for the Crows Run Project in Pennsylvania which will now be able to start production consistent with the last few years for the 27 current wells producing.
Our well service partners are scheduled for infrastructure review and development once our on-site coordinator has confirmed oil production has commenced. When our partners have started on-site review we will know which tanks and lines we intend to replace and initiate the process. Once we reach this point the reworks can begin.
"Once we obtained access to the required bond, getting the power on was the next step to getting production. We will be updating the Event Table as we accomplish new tasks and will promptly report when new wells come on-line after reworks," stated President Brandon Toth. "Additionally you can download a copy of the Operations Plan under the latest additions on our new home page."
New Website:
Green Star Energies, Incorporated Home Page
PROJECTIONS - Original projections were run at approx. double these numbers based on higher energy prices. Management believes firmly that prices will rise near 50% going into the next 6-12 months where oil @ $75 and gas @ $8 is very realistic. These numbers are based on $43 average current BBL price and $5.00 average current MMCF price:
2,287.5 BBL per month = $98,362.5 per month
7930 MMBTU per month = $39,650 per month
Total Gross Revenue = $138,012.5 per month
Lease Payment: (Land Owners 12.5%)
Total Revenue = $120,760.93 per month of production revenue
Net Expenses 25% = $30,190.23 per month [management, updates, contractor,
etc.]
Total Net Revenue = $90,570.70 [figure is before joint venture partners are
paid out]
Spokesperson Rick Hupe stated, "Since day one I have been saying that the #1 Priority should be increased assets and cash-flow in this company. Upon achieving the goals pointed out in this release it should set a solid foundation in my opinion."
ABOUT GREEN STAR ENERGIES, INC. - Green Star is an energy company with interests in oil and gas development and production. Titan follows an aggressive business model, focusing on redevelopment of oil and gas fields with a history of production, and also, exploration of green projects and businesses such as biodiesel and wind power.