Drilling on Micron Enviro Systems, Inc.'s Substantial 50 Well Oil Project Nearing Commencement.Energy Editors/Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--June 3, 2003 Micron Enviro en·vi·ro n. pl. en·vi·ros Informal An environmentalist. Systems, Inc. ("MSEV") (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :MSEV) is pleased to report that the operator has informed MSEV that surface leases have now been acquired for the next phase of the drilling program on the proposed 50 well drill program in Saskatchewan, Canada. MSEVexpects the licenses to be issued this week and mobilization of the crews and equipment to follow. Minimal preparation work is required at the drill site, as these next nine targets are on relatively flat ground. The first ten wells drilled on this prospect earlier this year all achieved commercial success and the operator is anticipating similar results for the next set of nine wells. Saskatchewan is one of the largest oil producers in Canada, second only to Alberta. The province produces approximately 20% of total Canadian oil production. Cumulative oil production from Saskatchewan as of December 31, 2000 was 3.6 billion barrels. Remaining recoverable reserves are estimated to be 1.2 billion barrels. More than 18,000 active wells in Saskatchewan produce in excess of 400,000 barrels of oil per day. Van Levy, an analyst at CIBC World Markets CIBC World Markets is the investment banking division of the Canadian Imperial Bank of Commerce. It helps governments, large companies, and other large institutions obtain capital and credit and is a primary dealer in U.S. Treasury securities. , said interest in independent producers is being driven by robust commodity prices. On the New York Mercantile Exchange New York Mercantile Exchange (NYMEX) The world's largest physical commodity futures exchange. , July crude settled at $30.71 a barrel, up $1.15, for its first plus-$30 finish in about six weeks. Natural gas for July delivery advanced by 16.4 cents to settle at close at $6.415 per million British thermal units British thermal unit, abbr. Btu, unit for measuring heat quantity in the customary system of English units of measurement, equal to the amount of heat required to raise the temperature of one pound of water at its maximum density [which occurs at a temperature of 39. . "Prices have been just phenomenal," said Levy, who explained that concerns about supply disruptions are driving crude prices, while oil and inventory concerns are boosting natural gas. MSEV is also currently conducting due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. on another large potential gas project also located in Saskatchewan, Canada. Both wells that were recently completed and put on-line for sales on the Green Ranch Prospect in Texas are producing and are generating revenue for MSEV. We are in the midst Adv. 1. in the midst - the middle or central part or point; "in the midst of the forest"; "could he walk out in the midst of his piece?" midmost of generating a substantial multi-well program to attempt to exploit the new formation that was discovered while testing the Z2 well and we are hoping that the Z3 well will commence drilling in the near term. If you have any questions, please call MSEV at 604/646-6903. If you would like to be added to MSEV's update email list, please send an email to info@micronenviro.com requesting to be added. Bernie McDougall, President of MSEV states, "As this project commences, we anticipate tremendous attention will be focused on MSEV as it will give the company two major multi-well drill programs. If you look at a historical chart for MSEV, the most activity is generated as new drill programs commence and we anticipate this trend to continue. There are few, if any, stocks trading at MSEV's level that can boast the kind of upside the company can from the drilling programs MSEV is undertaking right now. We are very excited about the future growth prospects for MSEV." MSEV is an emerging oil and gas company with the goal of becoming a mid-range oil and gas producer that focuses on the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. marketplace. This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that 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. provision of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, volatility of oil and gas prices, product demand, market competition, and imprecision im·pre·cise adj. Not precise. im pre·cise ly adv. of reserve estimates, and actual ability to recovery oil and gas that is present or represented to the company by the operator. You should independently investigate and fully understand all risks before making investment decisions.
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