BAKERSFIELD, Calif.--(BUSINESS WIRE)--American Liberty Petroleum Corp. (OTCBB: OREO)(herein after "American Liberty" and/or "the Company") is pleased to review Western America's established energy production legacy while exploring its ongoing potential.
American Liberty Petroleum's President, Alvaro Vollmers, commented: "We consider ourselves fortunate to have the opportunity to further America's tradition of western US energy production. Our Nevada-based projects represent our belief that there are real solutions within our own borders that will contribute to the nation’s increased energy independence."
In 1865, the first commercial oil well in California was drilled. Today, hundreds of thousands of barrels of oil are produced in the area every day through the combined efforts of major western industry players such as Chevron, Occidental Petroleum and Aera Energy (jointly owned by ExxonMobil and Royal Dutch Shell).
As of 2009, California’s average crude oil production was 568,000 barrels per day, making it the third highest oil producing state behind Texas and Alaska. At the same time, abundant oil and gas reserves still remain untapped in the western US. As of year-end 2008, California represented:
- 2.7 billion barrels of proved crude oil reserves
- 2.4 trillion cubic feet of natural gas reserves
- 17 of America’s 100 largest oil fields 
- 18 giant oil fields (production > 100 million barrels each)
- 4 super giant fields (production >1 billion barrels each) 
In 2009, Occidental Petroleum made a significant oil and gas discovery believed to be the largest in California in over 35 years (1+ billion barrels of oil and natural gas equivalents).
To the immediate east is the state of Nevada, where the Shell Oil Company first discovered oil in 1954. As of March 2010, 51.12 million barrels of oil had been produced in Nevada. Among Nevada's 9 producing fields is the world class Grant Canyon oil field, which for some years was the site of two of America’s highest producing wells. As of February 2010, the Grant Canyon oil field represents total production of 21.13 million barrels of oil. While production and exploration continues in Nevada, the state is considered under-explored.
FOR MORE INFORMATION
Learn more about Western America's energy production potential at the American Liberty Petroleum website, where you can also find more information about the Company as well as the latest news releases: http://www.americanlibertypetro.com.
ABOUT AMERICAN LIBERTY PETROLEUM CORP.
Based in Bakersfield, California, American Liberty is a publicly traded company (OTCBB: OREO.OB) focused on reducing America’s need for imported oil through discovering major, new onshore US energy resources and by tapping overlooked or undervalued onshore domestic resources through exploration and development technologies not previously available. Recent significant discoveries, such as Occidental Petroleum's estimated 1+ billion barrels of oil and natural gas equivalents in California*, underscore the potential for developing new oil and gas production solutions in western America. Next door in the under-explored state of Nevada, American Liberty's 6,397-acre Gabbs Valley Prospect is located on the 26,000-acre Cobble Cuesta structure, which is estimated to represent oil reserves of 4+ billion barrels**. The Company's 7,270-acre Kibby Flat Prospect in the Monte Cristo basin, meanwhile, represents estimated ultimate recovery (EUR) of as high as 669 million barrels of oil according to a 2008 report***.
* Occidental Petroleum's Path to Easy Oil. Forbes Magazine, March 29,
** Reserve Estimates for the Cobble Cuesta Structure, Alfred H. Pekarek, Ph.D., Geologist, January, 2008
*** Kibby Flat Prospect report, Jerry Walker, Consulting Geologist, Sept. 2008
ON BEHALF OF THE BOARD OF DIRECTORS,
American Liberty Petroleum Corp.
Alvaro Vollmers, President
4900 California Ave
Certain statements in this press release are considered to be forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. American Liberty Petroleum Corp. bases these forward-looking statements on current expectations and projections about future events, which are based on information currently available. The forward-looking statements in this press release may also include statements relating to American Liberty Petroleum Corp.'s anticipated business prospects, new developments, financial performance, strategies and similar matters. American Liberty Petroleum Corp. disclaims any obligation to update any of its forward-looking statements, except as may be required by law.
Cautionary Note to U.S. Investors -The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We may use certain terms in this press release, such as “measured,” “indicated,” and “inferred” “resources,” which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K which may be secured from us, or from our website at http://www.sec.gov/edgar.shtml.
1. US Energy Information Administration (EIA) website, June 25, 2010
2. ABC News website, Oct. 28, 2009
3. San Joaquin Geological Society, 2002
4. Forbes Magazine, March 11, 2010
5. Nevada Commission of Mineral Resources website, Feb. 9, 2004
6. State of Nevada Division of Minerals website, June 23, 2010
7. Rig Zone website, March 23, 2005