Heartland Oil and Gas Corp. (OTCBB: HTOG) (FWB: HOCA) announced record revenue for the month of April. Since being acquired by UPDA about a year ago, production in Kansas has been constantly increasing. The company stated that 12 additional wells will soon be completed and that revenues may double once operational. Heartland Oil and Gas stated sales at the Kansas coal beds were over $100,000 for the first time, and over $266,000 for natural gas.
“Even in this difficult investment climate and despite steadily increasing costs for oil field equipment and services, we have maintained our commitment to the growth of our field operations,” concluded Heartland’s Baker. “Progress has been slower than anticipated but steady. We will continue to apply all available resources to the development of our vast acreage in Kansas and to exploit the considerable potential of our well-positioned assets in Texas. While the results we have already achieved are significant, we are even more confident in the promise of the future.”
Heartland Oil and Gas is expecting to have 12 more wells connected to the pipeline extension in the near future. The company is also moving forward in drilling another saltwater disposal well in Palo Pinto County, Texas. Heartland Oil and Gas stated that production from the Catlin Oil and Gas Field has expanded the production of crude oil. That expansion, coupled with the reductions of G & A and payroll costs, should have a significant impact increasing the bottom line.
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