NEW YORK, NY -- (Marketwire) -- 03/21/12 -- American Liberty Petroleum, Corp. (OTCBB: OREO), a company focused on reducing America's need for imported oil through discovering major, new onshore U.S. energy resources, announced background information on their acquisition of Paradise 2-12, a well located in Gabbs Valley in Nye County, Nevada.
The Western US is not only a target by American Liberty, but companies like Occidental Petroleum (NYSE: OXY), whose California discovery is so large it could run into land controlled by Chevron (NYSE: CVX), ExxonMobil (NYSE: XOM) and Royal Dutch Shell. The United States Geological Survey estimates the total, undiscovered, technically recoverable crude oil onshore in the US is 48.5 billion barrels, a majority of this falls into the Western half of the US.
According to the Baker Hughes rig count, the number of oil rigs on US fields has quadrupled in the past three years to 1,272. The US now has more rigs at work than the entire rest of the world. Marshall Adkins, Director of Energy Research at Raymond James, has recently stated, "If we continue growing anywhere near that pace and keep squeezing demand out of the system, that puts you in a world where we are not importing oil in 10 years."
Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor's reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. A third party has hired and paid IO Circuit twelve hundred and ninety five dollars for the publication and circulation of this news release. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. We have no ownership of equity, no representation; do no trading of any kind and send no faxes or emails.