''Archer-Wildlands #1'' Well Drilling Ahead at North Franklin.TUCSON, Ariz. -- Fidelis Energy, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :FDEI FDEI Fluor Daniel Eurasia, Inc. (Moscow, Russia) ), today announces that the "Archer-Wildlands #1" well has spudded and is drilling ahead at the North Franklin Project, Sacramento Basin of California. The well was spudded on June 25th is a close offset to the "Archer-Whitney #1" well that has been in production since March 2005. This is the second gas well to be drilled in the North Franklin gas reservoir gas reservoir In geology, a naturally occurring storage area, characteristically a folded rock formation, that traps and holds natural gas. The reservoir rock must be permeable and porous to contain the gas, and it has to be capped by impervious rock in order to form an under the 2005 development plan. The Company is optimistic that the Winters sand gas pay zone will be thicker at this location than the "Archer-Whitney #1" well, based on 2D seismic and geological mapping of the formation. Drilling to the 8,000 foot depth should take 8-10 days following which the well will be completed and tied-in to the pipeline. Fidelis receives PG&E-Citygate gas prices for sales and was last quoted June 22 at $6.72 per mcf. ABOUT FIDELIS ENERGY INC. Based in Tucson, AZ, Fidelis Energy is an oil and gas company dedicated to solving North America's complex energy problems. Fidelis Energy identifies, acquires and develops working interest percentages in smaller, underdeveloped oil and gas projects in California, Canada, and other promising locales that do not meet the requirements of larger producers and developers. Through the use of modern development techniques such as horizontal drilling and 3-D seismic, the company enhances production from underdeveloped and under-utilized projects, as it pursues oil and gas production throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . Safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for Forward-Looking Statements: Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Fidelis Energy, Inc. has little or no control. For more information, please visit our website at www.FidelisEnergy.com, or contact: Investor Relations Investor relations The process by which the corporation communicates with its investors. 1-888-894-3334 (Contact: William Marshall William Marshall is a name shared by several people:
ON BEHALF OF THE BOARD Fidelis Energy Inc. William Marshall -- President |
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