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According to Andrew J. Kacic, President of Proper Power & Energy, Inc. (OTC MARKETS: PPWE), the company looks forward to having a very productive 2011 and anticipates announcing the first revenues from the sale of oil this quarter.
Proper Power plans to drill additional wells on its Kentucky property no later than the first month of the second quarter of 2011. The Company also intends to commence exploratory drilling to prove out the reserves on its Utah property by the third quarter of this year. The current price of oil, combined with the rising demand for domestic production could make this a very promising year for the Company.
Proper Power has recently been approached by two independent financing groups and has submitted a $10 million private placement memorandum to both parties involved. These two groups are seeking domestic oil and gas production in light of the Middle East tensions.
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