Dune Energy Announces Plan to Drill Second Welder Ranch Development Well.Energy Editors/Business Editors HOUSTON--(BUSINESS WIRE)--June 15, 2004 Dune dune, mound or ridge of wind-blown sand formed in arid regions and along coasts. Dunes are common in most of the great deserts of the world. Often a dune begins to form because material is deposited by the wind as it encounters a bush, a rock, or other obstacle to Energy, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: DENG DEng Doctor of Engineering DENG Digital Electronic News Gathering ), today announced its planned spudding of the Hamilton Fee/Dune Energy #1 well, located on its Welder Ranch property in Victoria County, Texas Victoria County is a county located in the U.S. state of Texas. In 2000, its population was 84,088. It is included in the Victoria, Texas Metropolitan Statistical Area. Its county seat is Victoria6. It is a part of the Victoria, Texas, metropolitan statistical area. . Dune said a rig has been secured, and that it expects to spud the well within the next two weeks, weather conditions permitting. The well will be drilled to a planned total depth of 9,000 feet as a test of the Upper Wilcox formation, with additional uphole objectives in the Frio and Miocene sands. The company also said that completion operations continue at the Rob Welder/Dune Energy #1, with testing of both the Upper Wilcox and Yegua formations. In addition, evaluation of recently-acquired 3D seismic covering the area also continues. Commenting on the Welder project, Dune Chairman 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. Alan Gaines said, "Multiple horizon objectives and additional prospects continue to be delineated de·lin·e·ate tr.v. de·lin·e·at·ed, de·lin·e·at·ing, de·lin·e·ates 1. To draw or trace the outline of; sketch out. 2. To represent pictorially; depict. 3. by our technical staff on the Welder Ranch. This promises to be an exciting source of organic growth for our company for years to come." Dune Energy is a diversified energy company with operations presently focused in South Texas. FORWARD-LOOKING STATEMENTS: This document includes forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning estimates of expected drilling and development wells and associated costs, statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc estimates of, and increases in, production, cash flows and values, statements relating to the continued advancement of Dune Energy, Inc.'s projects and other statements which are not historical facts. When used in this document, words such as "could," "plan," "estimate," "expect," "intend," "may," "potential," "should," and similar expressions are forward-looking statements. Although Dune Energy, Inc., believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include the potential that the company's projects will experience technological and mechanical problems, geological conditions in the reservoir may not result in commercial levels of oil and gas production, changes in product prices and other risks disclosed in Dune's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed with the U.S. Securities and Exchange Commission. |
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