Baron Energy, Inc. reported the continuation of Phase 3 of its Texas Panhandle oil reactivation program and its intentions to proceed with Phase 4 immediately after the completion of Phase 3.

Ronnie L. Steinocher, President and CEO, said, "The completion of Phase 3 was delayed due to severe weather and downed electric power lines. Necessary repairs have been made and we have recommenced field operations for Phase 3. Phase 3 should be completed near the end of July at which time at least 22 oil wells will be on production."

Mr. Steinocher added, "Based on the positive production results to date, a Phase 4 will definitely be implemented on this project. We currently are planning to begin Phase 4 immediately upon completion of Phase 3."

Tags: Baron Energy