The Reserve Petroleum Company the Company is engaged principally in managing its owned mineral properties and the exploration for and the development of oil and natural gas properties. Other business segments are not significant factors in the Company s operations. The Company is a corporation organized under the laws of the State of Delaware in . OWNED MINERAL PROPERTIES MANAGEMENT The Company owns non producing mineral interests in , gross acres equivalent to , net acres at December , . These mineral interests are located in nine different states in the north and south central United States. A total of , net acres are located in the States of Arkansas, Kansas, Oklahoma, South Dakota and Texas, the areas of concentration for the Company in its recent exploration and development programs. The Company has several options relating to the exploration and/or development of these owned mineral interests. Management continually reviews various industry reports and other sources for activity leasing, drilling, significant discoveries, etc. in areas where the Company has mineral ownership. Based on its analysis of any activity and assessment of the potential risk relative to the particular area, management may negotiate a lease or farmout agreement and accept a royalty interest, or it may choose to participate as a working interest owner and pay its proportionate share of any exploration or development drilling costs DEVELOPMENT PROGRAM Development drilling by the Company is usually initiated in one of three ways. The Company may participate as a working interest owner with a third party operator in the development of non producing mineral interests, which it owns with a joint interest operator, it may participate in drilling additional wells on its producing leaseholds or if its exploration program, discussed below, results in a successful exploratory well, it may participate in the drilling of additional wells on the exploratory prospect. EXPLORATION PROGRAM The Company s exploration program is normally conducted by purchasing interests in prospects developed by independent third parties participating in third party exploration of Company owned non producing minerals developing its own exploratory prospects or a combination of the above. The Company normally acquires interests in exploratory prospects from someone in the industry with whom management has conducted business in the past and/or if management has confidence in the quality of the geological and geophysical information presented for evaluation by Company personnel. If evaluation indicates the prospect is within the Company s risk limits, the Company may negotiate to acquire an interest in the prospect and participate in a non operating capacity. The Company develops exploratory drilling prospects by identification of an area of interest, development of geological and geophysical information and purchase of leaseholds in the area. The Company may then attempt to sell an interest in the prospect to one or more companies in the petroleum industry with one of the purchasing companies functioning as operator.
Quote | Reserve Petroleum Co. (OTCMKTS:RSRV)
Last: | $175 |
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Change Percent: | 0.0% |
Open: | $175 |
Close: | $175 |
High: | $175 |
Low: | $175 |
Volume: | 5 |
Last Trade Date Time: | 12/31/1969 07:00:00 pm |
News | Reserve Petroleum Co. (OTCMKTS:RSRV)
Cedar Creek Partners is a hedge fund. The fund applies the typical bottom-up concentrated value approach of looking for a discount to intrinsic value to the neglected areas of the market, micro and nano caps. Cedar Creek held during the first quarter and managed to end the quarter up ...
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Message Board Posts | Reserve Petroleum Co. (OTCMKTS:RSRV)
Subject | By | Source | When |
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Emylers: RSRV Financials 07/16/2014 15:04:41 Reserve Petroleum Company (The) Period Ending Dec 31, 2 | Emylers | investorshangout | 07/16/2014 8:04:37 PM |
chartguy89: RSRV 440.00 Stock Charts $RSRV 1 Month Chart | chartguy89 | investorshangout | 03/09/2014 7:17:40 PM |
chartguy89: RSRV Stock Charts Last: +25.00 Saturday, March 1, 2014 at 10:59:25 AM $RSRV 1 Mo | chartguy89 | investorshangout | 03/01/2014 3:59:36 PM |