Enhanced Oil Resources Hires Tristone Capital to Explore Joint Venture Alternatives for Its St. Johns Helium and CO2 Field in Arizona and New Mexico
EOR is the majority owner and operator of the St. Johns Field which is believed to be the largest undeveloped Helium and CO2 field in
Lasker continued, “Over the last several years EOR has diligently and rigorously pursued the early development of this world-class field, including test wells and third party reports covering reservoir analysis, reserves quantification, facility design and costs. The Company is well-positioned now to bring in a joint venture partner to continue with full development of the project and thereby provide a new and reliable long term source of CO2 supply to the Permian Basin. In discussions with potential third party CO2 gas purchasers in the Permian Basin the Company became aware of several instances whereby these potential gas purchasers expressed an interest in ownership of this tremendous resource. The agreement with Tristone will provide these Companies, and others, the formal process to potentially invest in the project.”
About Enhanced Oil Resources Inc. --------------------------------- Enhanced Oil Resources Inc. (EOR) is an early-stage company focused on developing the St. Johns Helium/CO2 field, and producing oil via enhanced oil recovery processes using CO2 injection in the United States. The Company owns and operates the St. Johns Field, the largest undeveloped helium and CO2 field in North America. About Tristone Capital ---------------------- Tristone Capital is a global energy advisory firm that provides fully integrated investment banking, acquisitions and divestitures, and global equity-capital-markets services. Tristone employs more than 180 technical and financial professionals with offices in Houston, Calgary, Denver, London and Buenos Aires. For more information on Tristone please visit www. tristonecapital.com Forward-Looking Statement -------------------------
Certain statements contained herein are forward-looking statements, including statements relating to Enhanced Oil Resources’ operations; business prospects, expansion plans and strategies. Forward-looking information typically contains statements with words such as “intends,” “anticipate,” “estimate,” “expect,” “potential,” “could,” “plan” or similar words suggesting future outcomes. Readers are cautioned not to place undue reliance on forward-looking information because it is possible that expectations, predictions, forecasts, projections and other forms of forward-looking information will not be achieved by Enhanced Oil Resources. By its nature, forward-looking information involves numerous assumptions, inherent risks and uncertainties. A change in any one of these factors could cause actual events or results to differ materially from those projected in the forward-looking information. Although Enhanced Oil Resources believes that the expectations reflected in such forward-looking statements are reasonable, Enhanced Oil Resources can give no assurance that such expectations will prove to be correct. Forward-looking statements are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by Enhanced Oil Resources and described in the forward-looking statements or information. The forward-looking statements are based on a number of assumptions which may prove to be incorrect. Readers should be aware that the list of factors, risks and uncertainties set forth above are not exhaustive. Readers should refer to Enhanced Oil Resources’ current filings, which are available at www.sedar.com, for a detailed discussion of these factors, risks and uncertainties. The forward-looking statements or information contained in this news release are made as of the date hereof and Enhanced Oil Resources undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable laws or regulatory policies.
ON BEHALF OF THE BOARD OF DIRECTORS (signed) Barry D Lasker, CEO THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE Enhanced Oil Resources Inc.