EMERSON
Posted: 09 May 2005
Emerson Oil and Gas, Inc., is pleased to announce that the Company has advanced the final payment of drilling funds to the operator for the Acadia Project, a multi-objective oil and gas exploration play.
The Acadia Project consists of 15 sections in Alberta in an area that produces natural gas from the Viking formation, has oil potential in the
Bakken zone and gas potential in the Colony and Second White Specks zones. The Viking contains natural gas in wells around the Acadia project and has the potential for 13 Bcf gas in the reservoir under the leases. Gas wells in the area have calculated AOF rates up to 14 Mmcf per day.
The Project is located in eastern Alberta with year round access and an established production and equipment infrastructure. Well costs are expected to be $600,000 drilled, cased and completed and the advanced funds will go towards the drilling of the first well. Each well drilled by Emerson on the licenses earns a 49% Working Interest in 4 sections.
Each well on a lease earns Emerson a 49% Working Interest in one section.
Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act 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 Emerson Oil and Gas Inc. has little or no control.
Posted by Editor Pipeline Magazine
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