Lavaca County Gas Wells Update - 15 Day Test Completed and In Production.DENVER -- Lions Petroleum Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :LPET LPET Logarithmic Poisson Execution Time ) announced today they have been advised by SunCoast Technical Services, Inc. the operator of the Lavaca County, Texas Lavaca County is a county located in the U.S. state of Texas. In 2000, its population was 19,210. Its county seat is Hallettsville6. The county is named for the Lavaca River. Geography According to the U.S. drilling program, that the two successful gas wells are now producing gas and are hooked up to a pipeline. The combined production over the 15 day test period was 5346 MCF, which equals 356 MCF per/day. At today's gas price of $7+ per Million Cubic Feet, the company anticipates their Net Revenue Income to be approximately $10,000 per month. Production is presently being monitored and a full month estimated production report is expected from SunCoast by the middle of November. ABOUT LIONS Lions Petroleum Inc. (The Company) is a Delaware corporation A Delaware corporation is a corporation chartered in the U.S. state of Delaware. Delaware is well known as a corporate haven, and thus, over 50% of US publicly-traded corporations and 58% of the Fortune 500 companies are incorporated in the state. that has oil and gas leases in Northern Alberta Norhern Alberta is a region located in the Canadian province of Alberta. Its primary industry is oil and gas, with large heavy oil reserves being exploited at the Athabasca Oil Sands and Wabasca Area in the east of the region. and the Williston Basin in South Saskatchewan South Saskatchewan: see Saskatchewan, river. . The Company has an interest in two producing wells in Lavaca County Texas with an option to participate in two additional undrilled wells. The Company has signed Letters of Intent to acquire 20 miles of pipeline, tap into the main Southern Star Line, 45 gas wells, and 38,277 acres of petroleum leases, located in Bourbon, Crawford & Neosho counties in South East Kansas, located in the Cherokee Basin. The Company has signed a Letter of Intent to acquire 14,184 acres of petroleum leases in Harrison and Davies Counties, N.E. Missouri, which are located in the Forest City Basin. The Company is currently seeking additional projects throughout North America. 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. The information provided in this Press Release does not constitute an offer or a solicitation of an offer for the purchase or sale of any shares or other securities of Lions Petroleum Inc. There are substantial risks associated with investing in development stage energy exploration companies. No Securities Commission or similar authority has in any way approved any of the information contained in this press release. |
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