American Resources of Delaware announces Ship Shoal 150 lease block production levels.SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Nov. 15, 1995--American Resources of Delaware Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :GASS GASS Greenland Air Surveillance System GASS Gas Analyzing Sensor System GASS Guidance Accuracy Study for SPRINT GASS Google AdSense Stats Syndrome GASS Generic Application Simulation System (Boeing Rotocraft) ) ("ARI ARI Acute respiratory infection, see there ") announced that both the B-3 Well and B-4 Sidetrack Well No. 2 on the Ship Shoal 150 lease block, offshore Louisiana, are now in production. The B-3 Well is currently producing at the rate of approximately 1,450 barrels of oil and 752 MCF of natural gas per day, while the B-4 Sidetrack Well No. 2 is currently producing at the rate of approximately 1,033 barrels of oil and 602 MCF of natural gas per day. ARI's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Southern Gas Co. of Delaware Inc., owns 50.0 percent working interest (30.15 percent net revenue interest) in both of these wells. Century Offshore Management Corp. is operator and 50 percent working interest partner in the Block. At current oil prices, the company estimates that it will realize approximately $380,000 per month in cash flow from the two wells. For information about the company, contact Michael Salter at 602/945-9195. CONTACT: American Resources of Delaware Inc. Investor Relations Investor relations The process by which the corporation communicates with its investors. , 602/945-9195 |
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