Eldorado Exploration Well Results.IRVINE, Calif. -- Eldorado Exploration, Inc. (PINK SHEETS:EDEX) announced today that the Sparkman well in Hardeman County Hardeman County is the name of two counties in the United States:
per·me·a·bil·i·ty n. 1. The property or condition of being permeable. 2. and would not have been a commercial producer. Eldorado had a 5% working interest. The company's Mesa well being drilled in Roosevelt County, New Mexico Roosevelt County is a county located in the U.S. state of New Mexico. As of 2000, the population is 18,018. Its county seat is Portales6. Geography According to the U.S. Census Bureau, the county has a total area of 6,358 km² (2,455 mi²). is at approximately 5000 ft. in depth and is expected to reach its first targeted zone at 6100 ft. sometime this weekend. The total depth of 7200 ft. would also allow the well to test the Montoya Dolomite dolomite (dō`ləmīt', dŏl`ə–). 1 Mineral, calcium magnesium carbonate, CaMg (CO3)2. zone at 7000 ft. Geology studies indicate the structure to be primary gas bearing with possible reserves of up to one trillion cubic feet. Eldorado has a net 33% working interest in the Mesa well and 11,300 leased acres covering the center of this very large reef based structure. Eldorado Exploration, Inc. is an independent oil and gas company that utilizes a process called Passive Induced Polarization Induced polarization (IP) is a geophysical imaging technique used to identify subsurface materials, such as ore. The method is similar to electrical resistivity tomography, in that an electric current is induced into the subsurface through two electrodes, and voltage is 'PIP' to detect electrostatic Stationary electrical charges in which no current flows. For example, laser printers and copier machines place a positive charge of the image on a drum, and negatively charged toner is attracted onto the drum. The toner is then transferred to positively charged paper and fused to the paper by heat. signals given off of some geological anomalies. In most cases a positive response indicates a hydrocarbon accumulation and a negative reading almost is always a dry hole. When used with the standard geological tools and methods, the PIP process enhances the odds of success for discovering oil and gas. For further information about the company visit www.eldoradoexploration.com or email at eldoex@yahoo.com. Please be advised that statements made herein, other than historical data, constitute 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 that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that Eldorado Exploration is a non-reporting Pink Sheets company and is not required to be registered with the Securities and Exchange Commission. |
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