U.S. Oil and Gas, Consolidated Odyssey and August Energy Assured of Production at Iowa Field.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- U.S. Oil and Gas Resources (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:USR See U.S. Robotics. 1. USR - U.S. Robotics, Inc. 2. usr - User. The "/usr" directory hierarchy on Unix systems. Once upon a time, in the early days of Unix, this area actually held users' home directories and files. ); Consolidated Odyssey Exploration Inc. (TSX VENTURE:ODE ode, elaborate and stately lyric poem of some length. The ode dates back to the Greek choral songs that were sung and danced at public events and celebrations. ); and August Energy Corp. (PINK SHEETS:AENC AENC Association Executives of North Carolina ) (herein together called the "Companies") are pleased to announce the following update on drilling. Iowa Field - Southwest Louisiana. The operator reports that the Fred Dennison #2 well has reached a depth of 9,028 ft. The well bore has been logged and evaluated to depth. Gilbert Talafuse consulting Petroleum Geologist has identified approximately seventy feet of cumulative oil and gas in four potentially productive sands, including a new pay zone at 8958ft that yielded 4800 units of gas, which Mr. Talafuse calculates should flow at a rate of 3,000,000 cubic feet of gas per day. The operator has commenced setting protective intermediate 7" casing and anticipates continuation of drilling on Tuesday February 15th 2005. The primary target is a suspected zone at 10,100 ft which should contain 200 ft of high pressure gas and 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. bearing formation. As reported in earlier press releases, USR, ODE and AENC are each sharing 1/3rd of the drilling expenses in this well. See each of these Companies' previous news releases for more detailed information. ON BEHALF OF THE BOARD OF U.S. OIL AND GAS RESOURCES INC. AND AUGUST ENERGY CORP. Jurgen Wolf, Director ON BEHALF OF THE BOARD OF CONSOLIDATED ODYSSEY EXPLORATION INC. Basil Pantages, President Certain information included in this communication (as well as information included in oral statements or other written statements made or to be made by August Energy Corp.) contain statements that are forward looking, such as statements related to the future anticipated direction of the oil and gas industry, plans for future expansion, various property development activities, planned capital expenditures, future funding resources, anticipated production and reserve growth. These forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual operations or results to differ materially from those anticipated. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. does not accept responsibility for the adequacy or accuracy of this release. August Energy Corp. (PINK SHEETS:AENC) Consolidated Odyssey Exploration Inc. (TSX VENTURE:ODE) U.S. Oil and Gas Resources Inc. (TSX VENTURE:USR) |
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