Deep Rock Oil & Gas, Inc. To Drill Third Well in Four Well Project
Posted on: Monday, 6 February 2006, 12:00 CST
Deep Rock Oil & Gas, Inc. to Drill Third Well in Four Well Project
TULSA, Okla., Feb. 6, 2006 (PRIMEZONE) -- Deep Rock Oil & Gas, Inc. (Pink Sheets:DPRK) announced today that it has begun drilling on the third of a four well project in Northern Oklahoma. The drilling is being done as part of the Company's efforts to develop its joint-venture pipeline with Apollo Resources International, Inc. (OTCBB:AOOR)
As part of a previously announced agreement, Deep Rock will initially develop gas production within a 5 mile radius of the Washington Gathering System. The joint-venture gives Deep Rock a 49% revenue interest in all fees for production that flows through the pipeline. The pipeline is located in a large, undeveloped area prone to shallow gas reserves and relatively inexpensive exploration and production costs.
Robert Garner, CEO of Deep Rock stated, "We have been pleased with the initial reports on the first two wells and hope these next two wells allow us to profile the best geology for determining where we drill in the future."
About Deep Rock Oil & Gas, Inc.
Deep Rock Oil & Gas, Inc. ("Deep Rock or the Company"), is an oil and gas exploration and production company and currently has working interests in 33 wells, ten of which are operated by the Company. By utilizing advanced recovery technologies, sound engineering and experienced committed management, Deep Rock has developed a proven corporate growth strategy of identification, acquisition and development of domestic oil and gas reserves thereby reducing U.S. dependence on foreign oil.
Safe Harbor Statement
Certain statement included in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that meet defined specifications. When used in this press release, the words "plan,""expect,""believe," and similar expressions are generally considered forward-looking statements. These statements reflect our current expectations.
CONTACT: The Argent Group (918) 459-8469
Copyright © 2006 PrimeZone Media Network, Inc.
Source: PrimeZone Media Network
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