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SCEY.OB-SUN CAL ENERGY

Started by gman88, June 01, 2007, 01:49:44 PM

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gman88

Stock is on fire. Starting a DD.

Recent news-

Sun Cal Energy Inc. Announces Successful Drilling and Testing of its Deep Development Well in Washita, County, Oklahoma
Wednesday May 30, 10:07 am ET

SAN FRANCISCO--(BUSINESS WIRE)--Sun Cal Energy Inc. (OTCBB:SCEY - News), an energy exploration company focused in the Southern San Joaquin Valley of California, the Anadarko Basin of Oklahoma, and the Breton Sound of Louisiana is pleased to announce successful drilling and testing of its deep development well in Washita, County, Oklahoma.

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Operated by Marathon Oil, well data collection and evaluation has been completed on the Sturgeon 1-11 well, and has been deemed commercially viable. The well reached a final depth of 19,990 feet on May 15, 2007 after slightly more than 3 months of drilling. To help evaluate the amount of pay encountered in the well, an open hole logging suite consisting of density, neutron, HRI induction, sonic, and gamma tools was run to a depth of 19,980 feet. Marathon then ran production casing to a depth of 19,978 feet. The drilling rig was then moved off location and it is expected that completion operations will commence soon.

Commenting on these developments, Lewis Dillman, President and Chief Executive Officer of Sun Cal Energy Inc. states: "We are excited that the well shows hydrocarbons and that Marathon Oil has expanded its drilling program on our Hobart lease. This is a significant step for our Company as we progress towards production and cash flow."

Sun Cal Energy Inc. owns a 1.5% gross overriding royalty interest in the 1211 acre Hobart prospect strategically located in the Anadarko Basin and part of the Springer Morrow play -- the largest such play in the State and Mid-Continent. Marathon Oil will commence assembly of a more permanent drilling platform to support well completion on the Sturgeon 1-11 well, and is estimated to spend an additional $4 million for oil and gas extraction.

"We believe that Marathon Oil's testing and subsequent success on the development well validates our acquisition strategy, and sets the stage for larger successes and discoveries," stated Lewis Dillman: "In addition to a second well previously permitted, we are confident that Marathon Oil will continue to pursue additional drilling activities on our Hobart lease. Revenues from our Hobart Lease will provide stability and long-term growth prospects for our Company and our shareholders. We look forward to further encouraging results by the operator, Marathon Oil, and will continue to execute on our strategy to acquire properties with minimal cost, low risk, and potential for partnerships or joint ventures with major industry leaders."

Further Information

Shareholders and prospective investors are encouraged to visit Sun Cal Energy's website: www.suncaloil.com and download Sun Cal Energy's Investor Summary. Please feel free to call investor relations toll-free at 1-800-798-8334 to receive a full corporate investor's package.

About Sun Cal Energy Inc.

Sun Cal Energy Inc. is a publicly traded independent oil and gas exploration company with headquarters in Calgary, Alberta, and an operational office in San Francisco, California. Sun Cal Energy aims to secure and develop a portfolio of oil and gas properties throughout America. The company is strategically placed in the Southern San Joaquin Valley of California, the Anadarko Basin of Oklahoma, and the Breton Sound of Louisiana. Sun Cal Energy Inc. trades under the ticker symbol: SCEY - "Sun Cal Energy Inc. -- Providing Energy Solutions to America".

On behalf of the Board

Lewis Dillman, President and CEO

Forward-Looking Statements

Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management, including, but not limited to, the Company's belief that Sun Cal Energy Inc. can identify and successfully negotiate leases for oil and gas properties in California, Oklahoma and Louisiana that the Company can participate in the exploration of those properties. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission.


kslifka

SCEY....I believe this one is setting up for a strong bull-run.   ;DPossibly starting today.  If SCEY.ob opens at the closing price today (or slightly above)....this one should break out. ;)

Volume has been good since the first pop in early September.  Fundamentally...News was released on Tuesday and Wednesday which some sold on the positive developments:

Sun Cal Energy Inc. Announces Production of Its Sturgeon 1-11 Well in Washita County, Oklahoma
Tuesday September 25, 9:00 am ET

SAN FRANCISCO--(BUSINESS WIRE)--Sun Cal Energy Inc. ("Sun Cal") (OTCBB:SCEY - News), an energy exploration company focused in the Southern San Joaquin Valley of California, the Anadarko Basin of Oklahoma, the Breton Sound area in offshore Louisiana and the Green River Basin of Wyoming is pleased to announce that the Sturgeon 1-11 well is in production.

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Currently, flow rates from the first pay zone are in excess of 3 mmcfd. The second and third pay zones are expected to undergo fracing operations and thus provide greater flow rates for the well. The target depth is the Springer Morrow, which has proved to be very productive in Oklahoma and Texas, and has gas-bearing shallower zones which may be commercial. Production on the Sturgeon 1-11 follows on the recent activity in the Hobart prospect with the spudding of the Cunningham 1-12 well, and the application by Range Resources for a third well.

Production on this well follows the recent announcement that Sun Cal has signed a Letter of Intent to acquire a 100% working interest in 8,695 acres of leases in the Cherokee and Forest City Basins of Kansas. The Kansas leases consist of 24.9 BCF of gas and over 2 million BBLS of oil in reserves, and are producing 2,250 BBLS of oil per month. Together, along with the participation in the Centurion Property, these two developments provide production and cash flow to Sun Cal.

Sun Cal Energy Inc. owns a 1.5% gross overriding royalty interest in the 1,211 acre Hobart prospect strategically located in the Anadarko Basin and part of the Springer Morrow play - the largest such play in the State and Mid-Continent. Key players running rigs in the immediate area include Marathon Oil, Chesapeake Energy, and Range Resources.

Commenting on these developments, Lewis Dillman, President and Chief Executive Officer of Sun Cal Energy stated: "We are very excited to announce successful flow rates on our initial well and thus enter into production. We look forward to building on these results and to further develop our portfolio of oil and gas assets, two of which are now in production. The successful drilling of our Hobart lease validates our strategy to acquire low risk, high potential assets and ultimately our goal to achieve production and cash flow."



Sun Cal Energy Closes European Institutional $1 Million Equity Financing
Wednesday September 26, 9:00 am ET

SAN FRANCISCO--(BUSINESS WIRE)--Sun Cal Energy Inc., ("Sun Cal Energy")(OTC BB:SCEY - News), an energy exploration company focused in the Southern San Joaquin Valley of California, the Anadarko Basin of Oklahoma, the Breton Sound of Louisiana, and the Green River Basin of Wyoming is please to announce that it has closed an equity financing for $1 Million.

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To date, Sun Cal Energy has raised in excess of $4.3 million for the purpose of advancing exploration projects and investing in high impact oil and gas assets. Sun Cal Energy remains debt free. The proceeds from this financing will be used for project development and general corporate purposes.

J. Lewis Dillman, President and Chief Executive Officer of Sun Cal Energy, states: "Our recent track record of success in the field has allowed us to reach milestones ahead of schedule, and access necessary capital to ensure our ability to complete the projects before us. From the capital raised, in excess of 90% has been directly spent on these properties. We look forward to seeing our current projects develop cash flow for the Company, and we eagerly look forward to the further development of our vast and growing portfolio of oil and gas assets."