Gray Fox Petroleum Corp. announced delayed annual 10-K filing
Jun 29 15
On 06/29/2015, Gray Fox Petroleum Corp. announced that they will be unable to file their next 10-K by the deadline required by the SEC.
Gray Fox Petroleum Corp.Deleted From OTCBB
Jul 17 14
Gray Fox Petroleum Corp.’s common stock has been deleted from OTC Bulletin Board effective July 17, 2014 on account of its ineligibility for quotation on OTCBB due to quoting inactivity under SEC Rule 15c2-11.
Gray Fox Petroleum Corp. Provides Exploration Update for West Ranch Prospect
May 22 14
Gray Fox Petroleum Corp. provided an update on its exploration plan to identify drilling targets on its 32,723-acre West Ranch Prospect (100% Working Interest; 82% Net Revenue Interest). The prospect is comprised of 22 Federal leases in the Butte Valley Oil Play Region of north-central Nevada, located in Elko and White Pine Counties, 50 miles north of Ely, NV. The Company's initial exploration plan is designed to identify new drilling locations targeting the peak of structural closures. Completed Work to Date: as of May 22, 2014, Gray Fox had completed two phases of a previously announced 8-phase exploration plan designed to systematically reduce risk and optimize selection of one or more new drilling targets by incorporating the results of the two test wells drilled to date. The company has successfully acquired all available non-exclusive gravity and magnetic data in the areas of interest, as well as additional proprietary data. This data has been used to reinterpret the prospect's geology with a more complete data set than was initially used when selecting the two older wells. In turn, three structural highs (Lead A, Lead B, Lead C) have been identified within the West Ranch Acreage, the data also shows a large residual gravity high outside the West Ranch Acreage (Upside Lead) - this anomaly is mapped and linked to Lead B in the residual gravity map, although it could be fault separated - Gray Fox has expressed its interest in this area for lease. Work Currently in Progress: Gray Fox has recorded rapid progress in relation to its exploration plan and is actively working on the remaining phases of exploration, which involves the acquisition of seismic data, the commencement of a well permitting process and the outlining of an effective drilling strategy. The third phase of the company's exploration plan is currently underway with the Gray Fox management team having initiated discussions with a number of parties with an aim of engaging a contractor/seismic company to handle the Bureau of Land Management (BLM) and State-private property permitting process for seismic data acquisition. This phase is expected to be completed by the end of August 2014. In addition to the seismic already identified and acquired on the West Ranch prospect, Gray Fox has sought out data across any potential traps or structures near the two existing wells. This is being done in order to map any structures identified in the gravity and magnetic data, as accurately as possible. This phase of exploration is expected to be completed by the end of September 2014. The company is currently in the process of completing a geologic and geophysical interpretation that will enhance the possibility of locating a successful oil and gas drill site. Through the acquisition of additional seismic and gravity data, drilling targets of wells that might have been missed will be identified. This phase of exploration is expected to be completed by the end of October 2014. Finally, with the above mentioned processes underway, the company is also currently working to define drilling location(s) and complete its reserves assessment. This phase of exploration expected to be completed by the end of January 2015. Well Permitting and Confirmation of a Drilling Strategy: the final two phases of the company's exploration plan will be focused on the commencement of the well permitting process and the confirmation of a drilling strategy. Management expects that both of these phases will be completed by the end of May 2015.