Arenal Energy Corporation Seeks Austin Chalk/Eagle Ford Shale Oil Opportunities

Arenal Energy Corporation, an independent exploration, development and production company that evaluates and acquires undervalued oil and gas leasehold property interests, announced today that it is seeking oil reclamation and production opportunities in the Austin Chalk geologic formation, which extends through Texas into Louisiana and overlays the Eagle Ford shale formation.

With oil prices rising, extracting peak production from aging oil wells has become increasingly profitable, while new ecologically-friendly oil recovery methods have dramatically reduced the adverse environmental impacts which accompanied conventional oil and gas recovery methods.

Last week Goldman Sachs predicted that West Texas Intermediate crude, the U.S. benchmark for oil prices, will hit $135 per barrel by the end of 2012. J.P. Morgan and Morgan Stanley also predicted that oil prices will almost certainly be higher later this year. The investment banks said the recent 15 percent drop in benchmark crude was only a brief pause in what will likely be a long-term rise to near-record levels.

Oil prices have risen this year as unrest in the Middle East and North Africa toppled leaders in Tunisia and Egypt and spread to Libya, Iran and Syria. Hundreds of Yemeni families fled gun battles in the capital and the U.S. State Department urged Americans to leave the country while commercial transportation is available. In light of the volatility and unreliability of foreign oil resources, stimulating domestic oil production has become essential to the United States’ national security.

Arenal Energy can move quickly to analyze and acquire undervalued producing oil and gas properties in the Austin Chalk/Eagle Ford trend. Oil and gas leaseholders, prospective joint venture partners and operators can submit proposals to the Company at info@arenalenergy.com.

Contact:
Arenal Energy Corporation
Tel: 888.713.7730
info@arenalenergy.com
SOURCE: Arenal Energy Corporation

About Arenal Energy Corporation
We are a junior oil and gas company engaged in development, rehabilitation and production activities. Our management team has over 40 years' combined experience in oil and gas development and construction management.
Utilizing a low-risk strategy of “exploit instead of explore”, we concentrate our operations in areas with proven reserves and production history with a primary focus on acquiring and re-working marginal oil wells that have been abandoned, shut-in, or are underperforming. As oil prices rise and new supplemental recovery techniques are perfected, these wells have become an opportunity for reentry and production restoration.

8707 E. Vista Bonita Dr.
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This release was published on openPR.