Angus Energy Completes Financing and Acquires Major Texan Gas Property.Energy Editors/Business Editors DALLAS--(BUSINESS WIRE)--Oct. 9, 2003 Angus Energy Corp., www.angusenergycorp.com (Pink Sheets:AGSC AGSC Azerbaijan Gas Supply Company AGSC American Grease Stick Company (Muskegon, Michigan) AGSC Adaptive Generalized Sidelobe Canceller AGSC Alpine Golf & Sports Club (Thailand) ) today announced that it has completed a $3 million private placement and has acquired one of the largest acreage positions in the expanding Barnett Shale natural gas play in central Texas. In connection with the financing Angus has acquired the exclusive drilling rights and operating interests in the Stanton Powell Ranch and surrounding properties located in Bosque County, Texas Bosque County (pronounced BOSS-key) is a county located in the U.S. state of Texas. As of 2000, the population is 17,204. Its county seat is Meridian6. Clifton, however, is the largest city and the cultural/financial center of the county. . The Company now controls over 17,000 acres of mineral interests in the Barnett Shale, making it one of the largest leaseholders in the area. Angus also holds an option to acquire an additional 141,500 Barnett Shale acres. The Barnett Shale gas play is the largest natural gas field in Texas and a primary supplier to the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. gas market. The USGS USGS United States Geological Survey (US Department of the Interior) estimates the Barnett may hold 10 TCF See Trenton Computer Festival. of recoverable natural gas with production in the region currently exceeding 6 BCF BCF Billion Cubic Feet BCF Bioconcentration Factor BCF British Chess Federation BCF British Coatings Federation BCF Breast Cancer Fund BCF Bank Credit Facility BCF Bulked Continuous Filament BCF British Cycling Federation BCF Boeing Converted Freighter per month. Natural gas was discovered on the Powell Ranch property in 1996. Angus will employ the latest proven horizontal drilling and fracture technologies to recover the gas within its Bosque County properties. Seismic has already been shot on the property and drilling operations will commence immediately. As part of the financing agreement Angus will submit certain filings to the SEC and apply for a listing on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. within 120 days. About the Company Angus Energy is a Dallas-based independent energy company engaged in oil and gas exploration and development with significant lease holdings in Central Texas. For more information, please contact Roger Kelly or Dan Ardiel, Investor Relations, at 972-501-1479, or visit the Company's website at www.angusenergycorp.com. For Media Relations, contact George Duggan at National Media at 818-542-6880. Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements included in this release other than statements of fact are forward-looking statements that involve risks and uncertainties. |
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