Micron Enviro Systems, Inc. Announces Manahuilla Creek Prospect Scheduled to Commence Operations.Energy Editors/Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--April 23, 2004 Micron Enviro en·vi·ro n. pl. en·vi·ros Informal An environmentalist. Systems, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :MSEV) ("MSEV") has been notified by the operator that barring any unforeseen issues the Manahuilla Creek Prospect in Goliad County, Texas Goliad County is a county located in the U.S. state of Texas. As of 2000, the population is 6,928. Its county seat is Goliad6. Goliad is named for the Mexican Municipality of Goliad, which in turn is named for Father Miguel Hidalgo; "Goliad" is an anagram of Hidalgo, is scheduled to commence operations on Monday, April 26. A 6,700-foot test well will be located on approximately 1,265 acres of oil and gas leases covering the expanded Yegua trend. The Middle Eocene sands of the expanded Yegua trend of the onshore Gulf Coast basin has been a prolific over pressured gas-condensate producer with total gas production to date exceeding 800 billion cubic feet, with an estimated trend recovery close to 2 trillion cubic feet of gas. The first well is scheduled to commence on or about March 15, 2004 barring any unforeseen issues. Bernie McDougall, President of MSEV stated, "It is quite exciting to have so many different projects all being worked on at once. This is definitely the most active time the company has had in its oil and gas drilling. When this prospect starts it will give us two separate prospects occurring simultaneously. Considering our recently announced negotiations in Ukraine and our two recent successful wells, this shows that MSEV's management is busy trying to build the growth of the company." Several fairly prolific fields have been discovered and exploited in Goliad County, the two most recent being the Jobar and Perdido Creek fields located approximately five miles north. The Jobar field is located in a normal pressured Yegua sequence with bottom-hole pressures of 2,600 pounds per square inch Noun 1. pounds per square inch - a unit of pressure psi pressure unit - a unit measuring force per unit area at 5,400 feet. The Perdido Creek field is down dip and geopressured ge·o·pres·sured also ge·o·pres·sur·ized adj. Being under high pressure within the earth. , having bottom-hole pressures of 3,600 pounds per square inch at 5,600 feet with recoverable reserves of 1.1 million cubic feet per ac.feet and a condensate condensate, matter in the form of a gas of atoms, molecules, or elementary particles that have been so chilled that their motion is virtually halted and as a consequence they lose their separate identities and merge into a single entity. content of 30 barrels per million cubic feet. Initial production rates are approximately two million cubic feet per day. Both fields above were discovered by drilling 2-D seismic amplitude anomalies, which produced oil, gas and condensates in various proportions. Reservoirs are discontinuous discontinuous /dis·con·tin·u·ous/ (dis?kon-tin´u-us) 1. interrupted; intermittent; marked by breaks. 2. discrete; separate. 3. lacking logical order or coherence. small fluvial flu·vi·al adj. 1. Of, relating to, or inhabiting a river or stream. 2. Produced by the action of a river or stream. [Middle English, from Latin sand bars and channel deposits of the Yegua formation. Comparative 2-D data have identified similar amplitude anomalies within the Yegua sands on the Manahuilla Creek prospect which are much more extensive and contiguous. Geological interpretation indicates the sands were deposited as extensive deltaic sands at the edge of the ocean basin. As such, these deltaic sands are much more widespread and stratigraphically lower than the smaller discontinuous river deposits to the north. MSEV is an emerging oil and gas company that has both oil and gas producing properties. MSEV's goal is to become a mid-range oil and gas producer that focuses on the exploration, discovery and delivery of gas and oil to the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. marketplace. MSEV currently has thirteen independent sources of oil and/or gas revenue. MSEV's production is from nine oil wells in Canada and three wells producing both oil and gas revenue in Texas. MSEV is currently involved in four separate multi-well oil and gas prospects, and we continue to look for additional projects that would contribute in building market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. . 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. 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 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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