Heartland Continues to Expand Production
As Heartland Oil and Gas Corp. (OTC BB: HTOG)(FWB: HOCA) continues to expand its production through the drilling of new wells and the recompletion of existing wells it is also building a professional staff prepared to design and execute its plans for the aggressive growth of production and revenues. With the recent hiring of T. Brian Clancy as its Manager of Petroleum Engineering and Paul D. Newsom as Senior Petroleum Geologist and the retention of local petroleum engineers to consult on the expansion of production from the wells it is acquiring in Texas and the execution of the well drilling and pipeline extension program at its vast coalbed methane field in Eastern Kansas, Heartland is positioning itself to maximize the opportunities presented by rising energy prices heading into winter.
In announcing these appointments, Heartland CEO Steven A. Fall remarked that "Paul Newsom’s experience in managing field operations will yield immediate results in Kansas where the first five new wells nearly doubled the production we had been generating from 16 wells. As Paul works with our new consulting engineers to design fracs and perforations and map and construct the pipeline expansion, we anticipate even better results going forward. Brian Clancy’s work on our reserve analysis should enable us to establish accurate estimates and increase production from previously untapped zones particularly the Barnett Shale in Palo Pinto County, Texas where, working with our consulting engineer, we expect to more than double production. We will continue to add technical staff and consultants in order to maximize revenue growth and build shareholder value."
Paul D. Newsom, 48, has in excess of twenty-five years of diversified E&P industry experience in drilling, well completions, and production operations. He has successfully drilled hundreds of wells in unconventional reservoirs. Mr. Newsom graduated from Trinity University in 1981 with a Bachelor of Science degree in Geology. He served as Chief Geologist for Ames Oil and Gas Corporation and has consulted as an independent geologist for numerous companies during the past two decades and has extensive experience in managing field operations and directing project management. Mr. Newsom will concentrate on management of the drilling program in Kansas.
T. Brian Clancy is a Petroleum Engineering graduate of Texas A&M University. He has experience working with oilfield service companies and applying various field engineering principles. Mr. Clancy focuses on in-house reserves for Heartland Oil and Gas Corp., as well as working with consulting field engineers on specific projects, particularly the recompletions planned for the wells in Jack and Palo Pinto counties in Texas.
About Heartland Oil and Gas Corp.
In April 2007, Universal Property Development and Acquisition Corporation (OTC BB: UPDA)(FWB: UP1) acquired a controlling interest in Heartland Oil and Gas Corp. and designated Heartland as its exploration and production arm. Since that time, UPDA acquired additional wells and acreage in Palo Pinto County, Texas with current production of approximately 1000 mcfg/day and will soon transfer those wells as well as all of its wells and acreage in Jack County, Texas to Heartland. For further information, visit www.heartlandoilandgas.com
Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or described pursuant to similar expressions.