Cheniere Energy Recompletion Increases Gas Production.Business/Energy Editors HOUSTON--(BUSINESS WIRE)--Feb. 17, 2000 Cheniere Energy Inc. (Nasdaq:CHEX CHEX Confined Helium Experiment CHEX Channel Expanded ) today announced the successful recompletion of its State Lease 16017 No. 1 well, located in West Cameron Cam·er·on , Mount A peak, 4,342.6 m (14,238 ft) high, in the Rocky Mountains of central Colorado. Block 49. Based upon testing results, Cheniere anticipates the well to produce initially at the rate of 10 million cubic feet of gas per day and ultimately 15 million cubic feet per day. Combined with production from the State Lease 16018 No. 1 well, Cheniere's net share of production from the block is expected to be between 8 and 10 million cubic feet per day. During the fourth quarter of 1999, the two wells produced approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. 0.5 billion cubic feet of natural gas net to Cheniere, or an average of 5.3 million cubic feet per day. Michael Harvey For Michael Harvey, the type designer and calligrapher, see Michael Harvey (lettering artist) For Michael Harvey, the software executive, see Michael Harvey (software executive) Michael Harvey, aka MC Harvey , Cheniere's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , commented, &uot;We are extremely pleased with the results of this recompletion. The increase in production is right in line with what we had expected. Combined with the effect of current prices for gas, it will have a significant impact on our revenues.&uot; The company also announced that it has recently created an Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the web site at http://www.cheniere.com to provide interested parties a quick and accurate way to get current information about Cheniere. The site includes background information on the company and its management, copies of press releases, links to financial statements and Securities and Exchange Commission filings, and presentation materials used in meetings with the investment community. This news release includes 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 based on assumptions which in the future may prove not to be accurate. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Certain risks and uncertainties inherent in the Company's business are set forth in the Company's periodic reports that are filed with and available from the Securities and Exchange Commission. |
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