Chancellor Group, Inc. Announces Plans for Natural Gas Pipeline Construction.Business Editors BOSTON--(BUSINESS WIRE)--April 26, 2001 Oil and Natural Gas company Chancellor Group Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CHAG CHAG Christian Health Association of Ghana CHAG Chancellor Group Inc (stock symbol) CHAG Community Health Awareness Group CHAG Charles Hammer Autosport Group - news) announced today plans for the construction of a natural gas pipeline on their Shinkle Field property. As part of its development program at its Shinkle Field property, the company is committed to evaluating the construction and operation of a new gas pipeline, which will have a capacity of more than 250 million cubic feet per day. The proposed new pipeline would extend approximately 65 miles to the nearest main distribution hub. Chancellor group over the next several months, in course of drilling and evaluating the extent of its gas reserves, will complete a feasibility study "A Feasibility Study" is an episode of the original The Outer Limits television show. It first aired on 13 April, 1964, during the first season. It was remade in 1997 as part of the revived The Outer Limits series with a minor title change. into the proposed pipeline. Our current estimates for gas production from the Shinkle Field property are in the order of 30 to 40 million cubic feet per day as the field reaches full production. We expected to quickly obtain third party customers from surrounding sur·round tr.v. sur·round·ed, sur·round·ing, sur·rounds 1. To extend on all sides of simultaneously; encircle. 2. To enclose or confine on all sides so as to bar escape or outside communication. n. properties for at least another 100 million cubic feet per day of presently stranded strand 1 n. The land bordering a body of water; a beach. v. strand·ed, strand·ing, strands v.tr. 1. To drive or run ashore or aground. 2. gas. We'll charge those customers a toll of at least .30 cents per thousand cubic feet of transported gas, suggesting potential added revenues of more than $11 million. Most of this added revenue would go straight to the bottom line, after financing costs. Chancellor Group said it had a number of financing options available to it, including several strong expressions of interest from prospective joint venture partners. A geographical map of the Shinkle Field and surrounding oil and gas properties can be found here http://www.wallstreetnewscast.com/profile/chag/geo-map.html Chancellor Group, Inc. currently has approximately 29.7 million shares of primary common stock issued and outstanding, and 36 million shares fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. . Chancellor Group web site: http://www.chancellorgroupinc.com Investor Research (real audio): http://www.wallstreetnewscast.com/chag.html Chancellor Group Yahoo Club: http://clubs.yahoo.com/clubs/chancellorgroup Certain information included in this communication contains statements that are forward-looking, such as statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the future anticipated direction of the industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts. These 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. are subject to a number of known and unknown risks and uncertainties that could cause actual operations or results to differ materially from those anticipated. |
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