Crimson Exploration Announces Commencement of Production from the Madisonville-Rodessa.HOUSTON -- Crimson Exploration Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CXPO) today announced that it has commenced production from the Fuhlberg #1 well in the Rodessa section of its Madisonville Field in Madison County, Texas Madison County is a county located in the U.S. state of Texas. In 2000, its population was 12,940. Its seat is Madisonville6, and it is named for James Madison, the fourth president of the United States. Geography According to the U.S. . The Fuhlberg #1, which initially tested at a gross rate of 9.0 mmcfe per day, is currently producing through two sets of perforations at a curtailed rate of approximately 3.3 mmcfe per day due to limited plant capacity. Production will continue at a curtailed rate until the expansion of the sour gas Sour gas is natural gas or any other gas mixture which contains significant amounts of hydrogen sulfide (H2S). According to this reference [1], natural gas is usually considered sour if there are more than 5. processing plant is completed, which the plant owner/operator projects will be completed, in two equal stages, by the end of July and the end of August. We continue to work on the completion of the Johnston #2 well, the first well we drilled in the Rodessa formation in the Madisonville Field. A mechanical problem caused by one of our service providers during the completion of the Johnston #2 has resulted in a delay in the final completion and fracing of that well. We expect the repair and completion of the well, and the commencement of production, by the end of the third quarter. We will monitor production results from these first two wells, and determine by yearend our strategy on the drilling of the third well planned in the field. We have an approximate 78% working interest ownership in the Madisonville-Rodessa project and an approximate 58% net revenue interest. The gas stream from the Rodessa is sour gas that includes approximately 30% inerts. Allan Keel keel 1. the ventrally directed large surface of the bird's sternum, the site of attachment of the major muscles of flight. Called also carina. 2. the prominent area over the sternum in Dachshunds. , President and 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. of the Company, commented, "We are pleased that we have finally commenced production from the Madisonville-Rodessa. We have had numerous frustrating frus·trate tr.v. frus·trat·ed, frus·trat·ing, frus·trates 1. a. To prevent from accomplishing a purpose or fulfilling a desire; thwart: operational, regulatory and supply hurdles to overcome in getting to this point, timing on much of which was beyond our control; so this commencement of production is a satisfying accomplishment." This press 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. " as defined by the Securities and Exchange Commission ("SEC"). Such statements include those concerning Crimson's strategic plans, expectations and objectives for future operations. All statements included in this press release that address activities, events or developments that Crimson expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions Crimson made based on its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or . Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond Crimson's control. Statements regarding future capital expenditures and production are subject to all of the risks and uncertainties normally incident to the exploration for and development and production of oil and gas. These risks include, but are not limited to, inflation or lack of availability of goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. , environmental risks, drilling risks and regulatory changes and the potential lack of capital resources. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Please refer to our filings with the SEC for a further discussion of these risks. |
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