EyeCity.com, Inc. Announces Acquisition Program for Oil and Gas Production in
Turner Valley Field, Alberta, Canada.
LAKE MARY, Fla., Dec. 13, 2012
LAKE MARY, Fla., Dec.13, 2012 /PRNewswire/ --EyeCity.com, Inc. (Pink Sheets:
ICTY.PK) announces today its initiative to acquire under performing oil and
gas wells in the Turner Valley located in Alberta, Canada. EyeCity.com,
Inc.'s ("ICTY") management team is executing on their strategy to target
underexploited oil and gas producing assets within proven oil field systems to
create turnkey production and revenue models.
ICTY has optioned lands with multiple wells in the Turner Valley oil field
system and is in the final stages of negotiations for the acquisition of oil
and gas production working interests located in the Turner Valley area of
Southwestern, Alberta, Canada. As previously disclosed in the news release
dated November 15, 2012, ICTY's management is focusing its business efforts on
acquiring underexploited oil and gas assets within proven fields in North
The Turner Valley oil and gas field has been producing oil and gas since 1914
and was the first oil and gas field developed in Canada; it also has been one
of its most productive regions. The main oil and gas operators in the area
include Devon Canada, ConocoPhillips Canada, Shell Oil and Legacy Oil and
Gas. The lands being evaluated by the company are adjacent to the main Turner
Valley Rundle pool in an unexploited oil accumulation called the KEW structure
which is believed to be a faulted out slice of the main Turner Valley oil
ICTY's management believes that the Turner Valley area meets their
requirements for an initial turnkey property and a significant future
opportunity to be exploited for the company. Chapman Petroleum Engineering
Ltd. completed an engineering evaluation study of the average oil recovery
data from one section area of the Turner Valley Rundle field which data
indicated an average oil recovery of 5.7 million STB ("stock tank barrel").
Chapman Petroleum Engineering Ltd has assigned resources on areas being
evaluated by the Company ranging from 2.9 million STB (lower case) to 8.7
million STB (high case) with the most likely oil recovery being 4.8 million
STB over the 640 acre field.
Mr. Bradley Wilson, CEO of ICTY, stated "We have been in discussion and
negotiations for several months now and are in the final stages of the
acquisition; this brings the promise of near term production, exploration and
development prospects in the Turner Valley area. The oil and gas wells and
properties being evaluated show the near term production potential of 75
barrels of oil per day and significant additional prospective development
About EyeCity.com, Inc.
EyeCity.com, Inc. is currently transitioning its business model towards a
focus on natural resources. The primary focus in this sector is targeted
towards oil and gas and the exploration and mining.
For further Information and inquiries:
FORWARD LOOKING STATEMENTS
Certain statements in this release, other than statements of historical fact,
may include forward-looking information that involves various risks and
uncertainties. There can be no assurance that such forward-looking statements
will prove to be accurate. Actual result and future events could differ
materially from those anticipated in such statements. These and all
subsequent written and oral forward-looking statements are based on the
estimates and opinions of management on the dates they are made and expressly
qualified in their entirety by this notice. The Company assumes no obligation
to update forward-looking statements should circumstances or management's
estimates or opinions change, other than as required pursuant to applicable
SOURCE EyeCity.com, Inc.
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