Brighton Oil to Acquire 951,230 Acres of Oil & Gas Mineral Rights in New Mexico and Arizona.LOS ANGELES Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. -- National Healthcare Technology (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : NHCT), currently doing business as Brighton Oil, announced today that it has entered into a lease agreement with PetroSun, Inc. Brighton Oil will acquire from PetroSun a fifty percent working interest in 951,230.64 acres of oil and gas mineral rights within the Holbrook Basin of Arizona and the San Juan Basin The San Juan Basin is a drainage basin and geologic structural basin in the Four Corners region of the Southwestern United States; its main portion covers around 4,600 square miles, encompassing much of northwestern New Mexico, northeastern Arizona, and parts of Colorado and Utah. of New Mexico New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). . An assessment of that leasehold has anticipated eighteen prospective areas of oil and gas potential. During the initial term of the agreement, Brighton Oil plans to engage in strategic joint ventures with industry partners to fully exploit the prospective acreage. Brighton will be acquiring drilling rigs in order to provide the drilling services for the projects. The company expects to begin its exploration activities within the leasehold during the next quarter of 2006. The San Juan Basin, located primarily in New Mexico, is the second largest natural gas field in the contiguous United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The basin contains more than 300 oil and gas fields that produce from Paleozoic, Jurassic, Cretaceous and Tertiary reservoirs. A geologic assessment by the U.S. Geological Survey The term geological survey can be used to describe both the conduct of a survey for geological purposes and an institution holding geological information. A geological survey discussed 50.6 trillion cubic feet of potential undiscovered natural gas in the basin, which is already rated as one of the richest natural gas reserves in the world. The Holbrook Basin is located in east-central Arizona and contains Paleozoic rocks including sabkha sabkha A flat area between a desert and an ocean, characterized by a crusty surface consisting of evaporite deposits (including salt, gypsum, and calcium carbonate), windblown sediments, and tidal deposits. deposits of Permian age. The sabkha deposits consist primarily of fine-grained red beds that are locally interbedded with limestone, anhydrite anhydrite Rock-forming mineral, anhydrous calcium sulfate (CaSO4), which differs chemically from gypsum (to which it changes in humid conditions) by having no water of crystallization. and salt. The Holbrook Basin sabkha deposits are similar in age and characteristics to the deposits found in the Permian Basin of West Texas. The Holbrook Basin has produced commercial quantities of helium, contains a large discovery of carbon dioxide carbon dioxide, chemical compound, CO2, a colorless, odorless, tasteless gas that is about one and one-half times as dense as air under ordinary conditions of temperature and pressure. and has recorded numerous shows of oil and gas in exploration wells. The drilling depths in the basin range from 1,000 feet to 6,000 feet. The approximate purchase price is $4.7 million, with a closing date on or before November 15, 2006, and is subject to certain terms and conditions of the purchase agreement. About Brighton Brighton is an oil and gas company with a focus on gulf coast oil and gas prospects and properties. Brighton is careful to develop a thorough drilling plan using the latest in technology in both mapping and the use of 3D seismic reports and information. Brighton Energy trades under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors NHCT. For more information on the Company visit www.Brightonoil.com. This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement identified by the words "expects," "projects," "plans," and certain of the other foregoing statements may be deemed "forward-looking statements." Although Brighton Oil believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this press release. These include risks inherent in the drilling of oil and natural gas wells, including risks of fire, explosion, blowout, pipe failure, casing collapse, unusual or unexpected formation pressures, environmental hazards, and other operating and production risks inherent in oil and natural gas drilling and production activities, which may temporarily or permanently reduce production or cause initial production or test results to not be indicative of future well performance or delay the timing of sales or completion of drilling operations; risks with respect to oil and natural gas prices, a material decline in which could cause the Company to delay or suspend planned drilling operations or reduce production levels; and risks relating to the availability of capital to fund drilling operations that can be adversely affected by adverse drilling results, production declines and declines in oil and gas prices and other risk factors. Except historical matter contained herein, matters discussed in this news release are forward-looking statements and are made pursuant to the 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. provision 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. These forward-looking statements reflect assumptions and involve risks and uncertainties, which may affect the Company's business and prospects and cause actual results to differ materially from these forward-looking statements. |
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