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Vinoble Announces Data on the Clovelly Prospect.


MALIBU, Calif. -- Vinoble, Inc. (OTCBB:VNBL), announced today further data from a 3D Seismic survey of the Clovelly South Prospect located in southwest Louisiana in the Lafourche Parish. The Clovelly Field is host to many oil and gas producers and has produced in excess of 30 MMBO MMBO - Million Barrels of Oil (Million barrels of oil) and 200 BCFG BCFG - Billion Cubic Feet Gas
BCFG - British Cold Forging Group
 (Billion cubic feet of gas) since its discovery in 1950.

The originally proposed target was to test the "M" Sand at a depth of approximately 13,500 feet with a prospective size of 3.6 million barrels of oil. After further geophysical review of a 3D Seismic survey of the property, the operator has contacted the interest owners of the prospect and put forth a further development plan for a deeper horizon. The additional drilling target will test the "P" Sand at approximately 14,200 feet and if successful, would significantly increase the reserves in the well for a nominal increase in the dry hole cost. It is expected that drilling will commence as soon as a rig becomes available. A discovery would lead to the drilling of several development wells on the 1260-acre property where facilities for the production of the well are available.

While global political turmoil continues to keep oil prices above $60 per barrel and by some recent analysts' reports that oil could reach as high as $100 a barrel in the near future, the Company is moving forward in acquiring additional growth and investment opportunities in the resource sector. Vinoble believes that these additional assets will provide the Company and its shareholders a much-improved increase in shareholder value. The Company is focused on increasing value by means on continuing acquisitions, development projects and exploration drilling through joint venture networks.

Safe Harbor Statement: This press release contains forward-looking statements as defined in The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan", "confident that", "believe", "scheduled", "expect", or "intend to", and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties, and actual results may differ materially from those expressed in any forward-looking statement. Such risks and uncertainties include, but are not limited to, the ability of Vinoble to complete the proposed acquisition(s), the results of Vinoble's due diligence review of the candidate(s), the success of the business of the acquisition candidate(s), including the ability of Vinoble to continue to sell the applicable products and the acceptance of those newly designed products by the market, market conditions, the general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's SEC reports and filings. The closing of the transaction will be subject to complete due diligence, inspections, and completion of audited financial statements in accordance to GAAP as required by the SEC prior to consummation.

Vinoble, Inc. (OTC Bulletin Board:VNBL)
COPYRIGHT 2006 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Feb 10, 2006
Words:504
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