Zone Resources Inc. (TSX-V: ZNR) is a junior oil and gas company based in Western Canada with a focus on developing past producing oil and shale gas natural resources projects. This strategy allows for a project portfolio with lower-than-average industry risk and the ability to build a stable, predictable, and long-lasting revenue stream.
Zone Resources Inc. has entered into an agreement with Consolidated Oil and Gas Corp. of Barbourville, Kentucky, to find underdeveloped assets to evaluate for potential of rehabilitation. As long as crude oil remains above $25 per barrel, these projects are expected to remain profitable.
Consolidated Oil and Gas Corp. has determined that there are several hundred abandoned oil wells in the planned area of operation along with several hundred other wells that were previously plugged by other operators that could be re-opened for purpose of rehabilitation.
