Jun 28 2012
Baby All Corp. On May 17, 2012, as previously announced, Baby All Corp., a Delaware corporation, changed its name to Santa Fe Petroleum, Inc. ("Santa Fe") with the Secretary of State of the State of Delaware. The name change reflects Santa Fe's business strategy and sole focus of acquisition, exploration, production and development of oil and gas properties. Santa Fe Petroleum will now begin preparing properties for drilling.
Santa Fe continues to further its lease operations and plans for drilling and production operations. With its confirmed leased acreage to date, Santa Fe projects that the number of drilling projects could range from ten to fifteen. Santa Fe's master plan with respect to drilling projects is to spread the drilling locations in a pattern over the total acreage, such that the minimum number of projects would PUD ("proven undeveloped") the maximum number of acres. Santa Fe believes PUD acreage, which adjoins the producing acreage, to be the most valuable acreage, second only to the actual producing acreage. Santa Fe expects this plan to create maximum oil reserve asset value with the fewest number of drilling projects.
Santa Fe's strategy is to focus on the most efficient planning and drilling programs to produce the highest oil and gas daily production possible. This strategy has been proven effective by Santa Fe through its successful operating history.
On Monday, June 18, 2012, the Financial Industry Regulatory Authority (FINRA) approved Santa Fe's voluntary change of its ticker symbol from BABA to SFPI. Santa Fe's web site, sfpetroleum.com, provides access to Santa Fe's previous press releases.
This news release does not constitute an offer to sell or a solicitation of an offer to buy securities in any jurisdiction.
SOURCE Baby All Corp.