Las Vegas, Nevada--(Newsfile Corp. - March 21, 2017) - Virtus
Oil and Gas Corporation (OTC Pink: VOIL), is pleased to announce
the purchase of Squaw Canyon and Tin Cup Mesa oil fields. Both
properties are located in San Juan County Utah. The effective date
of the purchase is March 1, 2017.
Virtus acquired 100% Working Interest in Tin Cup and 75% WI in
Squaw Canyon. After remedial work on various wells, the Company
anticipates gross production of 250 bopd.
Tin Cup Mesa Unit and Squaw Canyon are in the Paradox Basin
producing in the Upper Ismay formation. The cumulative production
for Tin Cup Mesa is 2,138,000 BO and 3,263,000 Mcf of gas. The
cumulative production for Squaw Canyon is 356,000 BO and 930,000
Mcf of gas. There is potential production in the Lower Ismay and
Desert Creek. Eight of the wells are candidates for Horizontal
About Virtus Oil and Gas Corporation
Virtus Oil and Gas Corp. (OTC Pink: VOIL) is a Nevada-based oil
and gas exploration and production company currently focused on
producing assets in the State of Colorado and Utah. Virtus'
strategy is to acquire proven and producing assets and/or develop
oil and gas resources in proven, onshore basins in the United
This news release may contain "forward-looking" statements.
These forward-looking statements are only predictions and are
subject to certain risks, uncertainties and assumptions that could
cause actual results to differ from those in the forward
looking-statements. Potential risks and uncertainties include such
factors as uncertainty of consumer demand for the Company's
products, as well as additional risks and uncertainties that are
identified and described in the Company's SEC reports. The company
will need to raise additional financing in order to advance its
exploration and drilling program. Actual results may differ
materially from the forward-looking statements in this press
release. Statements made herein are as of the date of this press
release and should not be relied upon as of any subsequent date.
The Company does not undertake, and it specifically disclaims, any
obligation to update any forward-looking statements to reflect
occurrences, developments, events or circumstances after the date
of such statement.
Virtus Oil and Gas Corporation
848 North Rainbow Blvd. #170
Las Vegas, NV 89107
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