Apex Resources Group Inc. Announces Drilling Rig to Well in Goliad County, Texas and Further Developments on Bastian Bay Well at Plaquemines Parish, Louisiana.Energy Editors/Business Editors SALT LAKE CITY--(BUSINESS WIRE)--March 8, 2004 Publicly traded Apex Resources Group Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :APXR) announces the drilling rig has been moved to the well in Goliad County, Texas Goliad County is a county located in the U.S. state of Texas. As of 2000, the population is 6,928. Its county seat is Goliad6. Goliad is named for the Mexican Municipality of Goliad, which in turn is named for Father Miguel Hidalgo; "Goliad" is an anagram of Hidalgo, and further developments on Bastian Bay Well State Lease 16152 at Plaquemines Parish, Louisiana Plaquemines Parish (Cajun French: Paroisse Plaquemine) is the parish with the most combined land and water area in the U.S. state of Louisiana. The parish seat is Pointe à la Hache. As of 2000, the parish's population was 26,757. . Goliad County, Texas The operator (PB Energy Partners Ltd.) has informed Apex Resources of the following: RE: MANAHUILLA CREEK PROSPECT We are pleased to provide the following update of our Manahuilla Creek Prospect in Goliad County, Texas as follows: 1. All the funds have been submitted from the recent cash call from the partners ($600,000.00) 2. Site preparation including construction of 300 feet of gravel roadbed road·bed n. 1. a. The foundation upon which the ties, rails, and ballast of a railroad are laid. b. A layer of ballast directly under the ties. 2. The foundation and surface of a road. , pressure testing of the saltwater disposal well, and creation of a containment pit is underway. 3. A turnkey drilling contact with EDDE EDDE Aerodrome Erfurt, Germany DRILLING has been signed and EDDE has confirmed that drilling should commence immediately following completion of their current project, which is expected to be around March 10, 2004. Additionally, we are please to report that EDDE is sending a recently constructed, brand new drill rig with their most competent drilling crew, experienced in handling over-pressured drilling and completion programs. 4. While the turnkey price is slightly higher (10%) than our original AFE (Apple File Exchange) An earlier Macintosh utility that converted data files between Mac and PC formats. It also included a file translator between IBM's DCA format and MacWrite. cost we feel that given the potential of the discovery the reduced exposure to risk far outweighs the cost of a turnkey contract. 5. At the recent NAPE nape (nap) the back of the neck. nape n. The back of the neck. nape the back of the neck. Called also nucha. Conference in Houston we were fortunate to meet Tom Ewing, perhaps the foremost authority of the Yegua Trend along the Gulf Coast. Tom was kind enough to provide us with the enclosed map showing the location of a number of very large gas fields along the same trend within which our Manahuilla Creek anomaly is located. Significantly, this map(a) provides further validation of the potential magnitude of our play. (a)The map can be viewed on our website at: http://www.westerngascorporation.com/pdf/MannMapMarch.pdf Plaquemines Parish, Louisiana The operator (Royal "T" Oil) has notified all participants of the January 2004 production number for gas and an update of the work program. During January, of the five days of the well being turned on, a total of 1.699 million cubic feet of gas was produced. The work crews have cleared three rust bridges and are continuing to pump water from the well in order to proceed with gas production. The well diagram can be viewed at this web address: http://www.apexresourcesgroup.com/images/RoyalTOilWellDiagram.jpg As stated in the January 20, 2004, news release, this well has proven approximately two million cubic feet of gas per day. This is an extremely good well and Apex with a 6.25% interest would be expecting monthly income of approximately $15,000.00 after working interest and royalty. Further news updates will be published as work progresses. By the Board of Directors Apex Resources Group Inc. Investor Relations Investor relations The process by which the corporation communicates with its investors. - Roger Reynolds American composer and teacher at the University of California at San Diego Roger Reynolds was born July 18, 1934 in Detroit, Michigan. He received an undergraduate degree in engineering physics from the University of Michigan and was a founding member ONCE Group with Robert Ashley. 136 East South Temple, Suite 1600 Salt Lake City, UT, 84111 Tel: 801-363-2599 Email: ContactUs@ApexResourcesGroup.com www.ApexResourcesGroup.com |
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