CSLG Retains Dean Philpot as Vice President; Management Gains Significant Experience Locating Overlooked Producing Zones in Existing Wells.HOUSTON -- Consolidated Oil and Gas, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : CSLG.PK) is pleased to announce they have retained Dean Philpot as Vice President. Mr. Philpot has extensive experience in oil and gas exploration, lease acquisitions as well as salvage salvage, in maritime law, the compensation that the owner must pay for having his vessel or cargo saved from peril, such as shipwreck, fire, or capture by an enemy. Salvage is awarded only when the party making the rescue was under no legal obligation to do so. and re-completion of missed and overlooked producing zones in existing wells. Mr. Philpot's experience began in the late 70's where he worked for Master Drillers Inc., a Dallas based drilling contractor and exploration company operating 5 rotary drilling rigs in the Ft. Worth Basin of Texas. During his career, Mr. Philpot has leased or acquired over 80,000 acres of oil and gas leases in North Central and Central Texas. These leases are now in play in the Barnett Shale The Barnett Shale is a geological formation of economic significance. It consists of sedimentary rocks of Mississippian age in the U.S. State of Texas. The formation is estimated to stretch from the city of Dallas to west of the city of Fort Worth and south, covering 5,000 square Gas Field. He has worked with a number of successful energy explorers including James E. Peterson who discovered the Lockhart Crossing Field in Mississippi, Sanford Dvorin, who drilled the first commercial gas well in Dallas and Tarrant County completed in the Barnet Barnet (bär`nət), outer borough (1991 pop. 283,000) of Greater London, SE England. Although mainly residential, manufactures there include automobile and aircraft parts, electrical components, and beverages. Shale. Mr. Philpot was also a partner in Quantum Oil and Gas Inc. in Dallas. Quantum Oil and Gas specialized in purchasing salvage wells and re-completing them in overlooked producing zones. His experience and knowledge will enhance Consolidated Oil & Gas, Inc.'s expertise in bringing on previously overlooked production in South Texas. For more information please contact Investor Relations Investor relations The process by which the corporation communicates with its investors. at (973) 351-3868 or visit www.consolidatedoilgas.com. About Consolidated Oil and Gas: Consolidated Oil and Gas, Inc. is a US based company engaged in the exploration and production of onshore on·shore adj. 1. Moving or directed toward the shore: an onshore wind. 2. Located on the shore: an onshore beacon; an onshore patrol. adv. domestic oil and natural gas properties. The company's exploration and production activities are focused primarily in Texas. Their mission is to apply strong technical expertise to unlock substantial oil and gas resources in areas where production can be achieved quickly and efficiently. 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: This press release may contain forward looking statements, as defined in the Securities Reform Act of 1995. Actual events or results may differ from Consolidated Oil & Gas, Inc. expectations on a negative or positive basis and are subject to a number of known and unknown risks and uncertainties: including economic conditions, and availability of timely financing for projects. |
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