Creston Resources Announces Initial Results of Tank Battery Renovation.ROOSEVELT, Utah Roosevelt is a city in Duchesne County, Utah, United States. The population was 4,299 at the 2000 census. Geography Roosevelt is located at (40.298721, -109.994035)GR1. -- Creston Creston may refer to:
The Uintas are one of the few major mountain ranges in the United States oriented from east to west, rather than north to south. , Utah, has averaged production of 68 BOE/d since coming back on line one week ago. With cumulative production of approximately 151,000 BOE BOE Based on Experience BOE Board of Education BOE Boletín Oficial del Estado (Spanish) BOE Bank of England BOE Board of Equalization BOE Board of Elections BOE Barrel of Oil Equivalent BOE Bind on Equip in an area surrounded 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. by wells that have produced significantly more, the Company believes that the well has yet to approach its economic potential. Work has already begun on the next well, which is located in the same field. The Company intends to install a new pump unit and several other pieces of equipment to increase production and reduce maintenance cost of the location. These renovations, using internal personnel and equipment, proceed simultaneous to the ongoing recompletion efforts the Company has with Fellows Energy ("Fellows") (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :FLWE). About the Uintah Basin The Uintah Basin is regarded as one of the most petroliferous Petroliferous is a word used to describe a rock or geologic formation containing or yielding petroleum. See Bituminous rocks areas in the country. Oil and gas production in the Uintah Basin began in the late 1940's with major development in the 1960's and expanding in the 1970s and 1980s. Since the 1980s there has been a tremendous surge of exploration and production activity in the basin with literally thousands of wells being drilled and completed. Within the last decade discoveries using the latest oilfield technological advances, including 3D seismic methods have yielded significant discoveries in previously unproductive formations, opening up thousands of acres of the basin for exploration and development. About the Company Creston Resources, Ltd. is a development stage company, which focuses on exploration, development, and production of its oil and natural gas properties in Utah and Wyoming Wyoming, city, United States Wyoming, city (1990 pop. 63,891), Kent co., W Mich., in the greater Grand Rapids metropolitan area, on the Grand River; settled 1832, inc. 1959. held through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. Homeland Gas & Oil. Currently, the company has interests in 46 wells on a total of approximately 17,000 acres. In addition to the potential to tap into both oil and gas resources, these properties offer the opportunity for both shallow and deep new drilling. The company is aggressively pursuing a strategy under which we will seek to simultaneously increase our existing production, drill new wells, acquire existing wells and production, and secure additional acreage. We believe this balanced approach will allow Creston to secure both additional reserves and a solid cash flow foundation to support ongoing endeavors. Creston is headquartered in Roosevelt, Utah. Statements in this press release that are not historical facts 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 involve risks and uncertainties which may cause the Company's actual results in future periods to be materially different from any results discussed in or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, the Company's ability to acquire productive oil and/or gas properties and to successfully drill and complete oil and/or gas wells on such properties, the inherent uncertainty of oil and gas exploration and production, general economic conditions, as well as other risks and uncertainties that may be detailed from time to time in additional documents issued by the Company. Readers are cautioned not to place undue reliance on any forward-looking statements. The Company assumes no obligation to update any forward-looking statements contained in this document. |
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