Energas Announces Successful Results for 2nd Kansas Well.OKLAHOMA CITY Oklahoma City (1990 pop. 444,719), state capital, and seat of Oklahoma co., central Okla., on the North Canadian River; inc. 1890. The state's largest city, it is an important livestock market, a wholesale, distribution, industrial, and financial center, and a farm -- Energas Resources, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : EGSR EGSR Eurographics Symposium on Rendering EGSR Employer Support of the Guard and Reserve EGSR Engineer General Service Regiment ) is pleased to announce the successful completion results of the 2nd well in Kansas. This well is currently producing 130 barrels of oil per day and 200 MCF of natural gas per day. The Company's net interest in this well is 13.7%. "We were delightfully surprised by the oil production in this well. We will learn a lot about this well over the next 30 days but I'm excited that we could possibly hit more dual producing wells in this field," stated President George Shaw George Shaw (December 10, 1751 - July 22, 1813) was an English botanist and zoologist. Shaw was born at Bierton, Buckinghamshire and was educated at Magdalen Hall, Oxford, receiving his M.A. in 1772. He took up the profession of medical practitioner. . "We are projecting that the added revenue from this well will put the Company in a profitable position for the first time since 1997. Praise the Lord!" The Operator has reported that the next rig available is scheduled January 5, 2005 to drill the 3rd well in this prospect, however the Operator will proceed to drill sooner if a rig becomes available before that time. This prospect covers approximately 2,750 acres and the spacing is 160 acres per gas well and 40 acres per oil well. Further announcements will be forthcoming. 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. Statement When used in this press release, the words "intends," "believes," "anticipated" and "expects" and similar expressions are intended to identify 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. . Such statements are subject to risks and uncertainties which could cause actual results to differ materially from those projected. Factors that could cause or contribute to such differences include normal risks associated with oil and gas drilling activities. The primary risk lies in the drilling of dry holes or drilling and completing wells which, though productive, do not produce gas and/or oil in sufficient amounts to return the amounts expended ex·pend tr.v. ex·pend·ed, ex·pend·ing, ex·pends 1. To lay out; spend: expending tax revenues on government operations. See Synonyms at spend. 2. and produce a profit. Hazards, such as unusual or unexpected formation pressures, downhole fires, blowouts, loss of circulation of drilling fluids and other conditions are involved in drilling and completing oil and gas wells and, if such hazards are encountered, completion of any well may be substantially delayed or prevented. In addition, adverse weather conditions can hinder or delay operations, as can shortages of equipment and materials or unavailability of drilling, completion, and/or work-over rigs. Even though a well is completed and is found to be productive, water and/or other substances may be encountered in the well, which may impair or prevent production or marketing of oil or gas from the well. |
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