Creston Resources Inc. Announces New Oil and Gas Well Developed by Its Subsidiary Homeland Gas and Oil Ltd.SALT LAKE CITY -- Creston Resources Inc. (Pink Sheets: CSTJ) announced today the successful test of its newly acquired well # 1-14-B-1E (Arrow Mud) located on the Ute Tribal lands in the Uintah basin The Uintah Basin is a geologic structural basin in eastern Utah, east of the Wasatch Mountains and south of the Uinta Mountains. The Uintas are one of the few major mountain ranges in the United States oriented from east to west, rather than north to south. of eastern Utah. The well tested 74 BOPD/300 MCFPD/oBWPD, with a flowing TBJ TBJ Trial by Jury TBJ Toronto Blue Jays (Major League baseball team) TBJ Terrain Bounce Jamming TBJ Turbulent Bounded Jet pressure of 3200 psig. "We are very excited about the ultimate potential of this well," said Paul McCulliss, president of Creston Resources, "because the test results that we obtained were achieved on a 7/64ths choke." The 74 barrels per day Barrels per day (abbreviated BPD, bbl/d, bpd, bd or b/d) is a measurement used to describe the amount of crude oil (measured in barrels) produced or consumed by an entity in one day. of crude oil is of the highest quality yellow wax which sells at a premium of up to $1/bbl over WTI WTI West Texas Intermediate WTI Western Transportation Institute (Montana State University) WTI World Tribunal on Iraq WTI With The Idea (used in chess to point to the idea behind a specific move) (West Texas Intermediate). "We anticipate having a connection to a natural gas sales line within 30 days," said McCulliss, "at which time we will proceed with putting the well into full production. "This successful test of the Arrow Mud well is enormously important to Creston Resources," said McCulliss, "as a good indicator of the high-quality prospects that Creston currently has in its undeveloped leasehold drilling inventory. Combining the production potential of the Arrow Mud well with the Creston 3-2 well in Carbon County, Wyo.(a), will make it possible for Creston to have ample resources to continue developing our other potential well sites. We anticipate that within 18 months Creston will have at least 30 wells in production," said McCulliss. ((a)The Creston 3-2 well located in Carbon County, Wyo., is a joint venture between BP American Production Inc. and Creston Resources. On Sept. 1 Creston announced that BP American Production Inc. had completed bringing the Creston 3-2 well into production and that it had been tested at 1.15 MMCF MMCF Million Cubic Feet MMCF Multimedia Communications Forum MMCF Mint Mocha Chip Frappuccino MMCF Multi Media Communication Forum per day of natural gas.) Forward-looking statements and comments in this press release 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. provisions of the Securities and Exchange Act of 1934. Such statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc , among other things, the prospects for the companies to complete the transactions and enhance the operating results, are necessarily subject to risks and uncertainties, some of which are significant in scope and nature. These risks may be further discussed in periodic reports and registration statements to be filed by the company from time to time with the Securities and Exchange Commission in the future. |
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