Asdar Group - Two Primary And Five Secondary Completion Targets Identified.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 5, 2001 Asdar Group (XBET: OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB) reports that the Projects Petroleum Engineer, Robert M. Scoggins P.Eng. of Benton Louisiana, USA has identified two primary and five secondary completion targets in the Harvester harvester, farm machine that mechanically harvests a crop. Small-grain harvesting has been mechanized to a certain extent since early times. In the modern period the first harvester to gain general acceptance was made by Cyrus McCormick in 1831 (see reaper). no.1-25 well located in the San Joaquin Valley Noun 1. San Joaquin Valley - a vast valley in central California known for its rich farmland Calif., California, Golden State, CA - a state in the western United States on the Pacific; the 3rd largest state; known for earthquakes , California. The well is located northeast of the East Lost Hills deep gas discovery. One primary target is located in the Vedder formation at 13,300 feet and is contained in clean productive gas sand. The sand exhibits porosity ranging between 18% and 22%. Expected production is gas with associated oil/condensate. The second primary target is located in the Temblor formation at 11,700 feet and is contained in clean productive gas sand. The sand exhibits porosity ranging between 18% and 23%. Expected production is gas with associated oil/condensate. The secondary targets occur in the Kreyenhagen, Vedder and Temblor formations and are contained within productive sands. Expected production from these zones is oil, gas and associated oil/condensate. The Company's completion engineers are designing a completion program to account for the anticipated high pressure contained within the primary targets. Pricing is being conducted for high-pressure production tubing Production tubing is a tubular used in a wellbore through which production fluids are produced. Production tubing is run into the drilled well after the casing is run and cemented in place. from suppliers. The Company has arranged for a completion rig to be on site on the delivery of the production tubing. Demand for natural has and condensate condensate, matter in the form of a gas of atoms, molecules, or elementary particles that have been so chilled that their motion is virtually halted and as a consequence they lose their separate identities and merge into a single entity. is expected to remain high in California for the foreseeable future, assuring favorable prices and strong economics for the project. When production is achieved from any of the indicated zones, it will be considered a new field discovery. The Company holds a 50% interest in the Harvester no.1-25 well and adjoining acreage. /s/ Robert Waters Robert Waters M.B.A., President For further information please contact Investor Relations at: 1-888-488-6882 Website: www.asdargroup.com 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. Statement under 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: The statements contained herein which are not historical fact are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but no limited to, certain delays in testing and evaluation of products and other risks detailed from time to time in Asdar's filings with the Securities & Exchange Commission. |
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