1st Texas Natural Gas Company, Inc. Continues a 100% Success Rate in Finding Natural Gas
Posted on: Monday, 29 October 2007, 06:00 CDT
1st Texas Natural Gas Company, Inc. (Pink Sheets:FTXN) announced today that is has hit natural gas on Adams 127-15 well. Located in the heart of the Permian Basin, the leases are located in the 6th largest known oil and gas reserves in the world.
Well #127-15 reached target depth on October 9, 2007. The week of October 15th the well was logged, casing ran, and was cemented. The well is scheduled for completion the week of October 29, 2007.
Mr. Dial stated, "The Company continues a 100% success rate in finding natural gas in the prolific canyon sandstones. We are extremely optimistic in moving forward to achieving our goal of having 40 producing wells by the end of 2008. With this latest find, this currently gives the company 5 producing wells.
Each well takes approximately 3-4 weeks to drill and bring to production. Additional drilling rigs and crews will be brought online in the shortest time possible in order to take advantage of the continued high demand of natural gas.
About 1st Texas Natural Gas Co., Inc.
1st Texas Natural Gas Co., Inc. is based in Conroe, TX with field offices in Ozona, TX and Midland, TX. Through its wholly owned subsidiary, Universal Energy Resources, Inc., the company has more than 200 potential drilling site options in its portfolio. More information is available at www.1sttexasnaturalgas.com.
Forward Looking Statement The contents of this Press Release may be deemed to include forward-looking statements within the meaning of United States securities laws and the Private Securities Litigation Reform Act of 1995. Forward-looking statements are only predictions and you should not rely on them. Actual results might differ materially from those projected in any such forward-looking statements. Forward looking statements involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by the forward-looking statements. We cannot guarantee future results, levels of activity, performance or achievements. In evaluating forward-looking statements you should consider various factors including risks inherent in the oil and gas business sector.
Source: Business Wire
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