NEW YORK, NY -- (Marketwire) -- 04/25/12 -- American Liberty Petroleum, Corp. (OTCBB: OREO), a company focused on reducing America's need for imported oil through discovering major, new onshore US energy resources, has announced today that Foreland Refining Corp. has signed an agreement to purchase all of their crude oil production from Gabbs Valley oil field in Nye County, Nevada. Payments will be made to American Liberty on the 20th day of each month following the month of delivery.
In a report issued today by The Paragon Report, high crude prices will drive quarterly results up on companies like ConocoPhillips (NYSE: COP) and ExxonMobil (NYSE: XOM). Higher crude prices also allow for smaller companies like American Liberty (OTCBB: OREO) and Magellan Petroleum (NASDAQ: MPET) to explore project areas that may not have been financially prudent just a few years ago.
The report further states, "Analysts are predicting an increase in earnings for the major oil companies, as concerns about oil supplies in the Persian Gulf have driven crude prices higher. The Brent crude benchmark, used by oil companies to price their production, traded at an average that was 12 percent higher than the same period last year."
For more information on American Liberty Petroleum, please visit www.americanlibertypetro.com
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