North Franklin Gas Field Flows Gas.TUCSON, Ariz. -- Fidelis Energy Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :FDEI FDEI Fluor Daniel Eurasia, Inc. (Moscow, Russia) ) announces that the pipeline connecting the North Franklin Gas Field to the gas buyers' delivery system is flowing gas. The operator of the project has choked down and metered the flow at an initial rate of 2.0MMcf and will be increasing the flow in small increments until the pressures from the reservoir stabilize at an acceptable rate that will not damage the casing or productive sand layer. It is critical for the field health to inhibit a simple open flow and to choke down Verb 1. choke down - suppress; "He choked down his rage" choke back, choke off conquer, inhibit, stamp down, suppress, subdue, curb - to put down by force or authority; "suppress a nascent uprising"; "stamp down on littering"; "conquer one's desires" pressures to prevent gas reservoir gas reservoir In geology, a naturally occurring storage area, characteristically a folded rock formation, that traps and holds natural gas. The reservoir rock must be permeable and porous to contain the gas, and it has to be capped by impervious rock in order to form an "coning" and drawing water into the sands by the outgoing gas. The Company and its partners anticipate a final flow rate of 4MMcf to 5MMcf. When the Initial Production Rate (IPR IPR Intellectual Property Rights IPR Inprocess/Inprogress Review IPR Industrial Property Rights IPR Institute for Policy Research (Northwestern University and University of Cincinnati) IPR Institute of Public Relations ) has been determined, expected within 10-15 days, the Company will release the figure. As of today, the Company has entered "the black" and anticipates being cash-flow and earnings positive for the foreseeable future. Closing Citygate gas price as at 21 March was $7.19/Mcf. ABOUT FIDELIS ENERGY INC. Based in Tucson, Ariz., Fidelis Energy is an oil and gas company dedicated to solving North America's complex energy problems. Fidelis Energy identifies, acquires and develops working interest percentages in smaller, underdeveloped oil and gas projects in California, Texas, Canada, and other promising locales that do not meet the requirements of larger producers and developers. Through the use of modern development techniques such as horizontal drilling and 3-D seismic, the company enhances production from underdeveloped and under-utilized projects, as it pursues oil and gas production 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. for Forward-Looking Statements: Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning 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. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Fidelis Energy Inc. has little or no control. For more information, please visit our Web site at www.FidelisEnergy.com, or contact: Investor Relations Investor relations The process by which the corporation communicates with its investors. 1-888-894-3334 (Contact: Dan Hodges) ON BEHALF OF THE BOARD Fidelis Energy Inc. ______________________________ Dan Hodges - President |
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