Kansas Update: LiteWave's Natural Gas Wells in Production; Ten Well Drilling Program Commences
Posted on: Monday, 13 March 2006, 09:01 CST
LiteWave Corp. (OTC BB: LTWV) is pleased to confirm that the first five shallow gas wells on its leasehold properties in Bourbon County, Kansas, have been placed into production. Operating personnel have stabilized production at a rate of between 75,000 and 100,000 cubic feet per day, with excellent back pressure on the lines.
The wells are connected via its 11-mile gathering system to Bourbon County Pipeline L.L.C. The second group of five wells have been drilled and are being connected to the gathering system. The final group of five drilled wells are expected be in operation thirty days after the second five are competed.
A commitment has been made to commence Infill drilling on its 3,879 acres of existing leasehold property, with a drill rig being mobilized for a further ten-well program. The Company expects to commit to additional development over the next few months, with up to thirty targets identified. As well, LiteWave is continuing a planned acquisition of leasehold acreage in the region.
The Company has also entered into negotiations with Arrandale Financial Corp. to acquire an 75% net revenue interest in the Roark Prospect, Steuben County, New York oil and gas leases covering approximately 885 net acres.
About LiteWave
LiteWave (OTC BB: LTWV) is an oil and gas company that is focusing its current efforts on the development of natural gas prospects in the United States and Europe.
Certain information included in this communication (as well as information included in oral statements or other written statements made or to be made by LiteWave Corp.) contains statements that are forward-looking, such as statements related to the future anticipated direction of the oil and gas industry, plans for future expansion, various property development activities, planned capital expenditures, future funding resources, anticipated production and reserves growth. These forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual operations or results to differ materially from those anticipated
For More Information Contact: Jim Newton 1 877-811-4518 ext 229 Email: info@litewavecorp.com Or visit our Website at www.litewavecorp.com
SOURCE: LiteWave Corp.
Source: MARKET WIRE
Related Articles
- Research and Markets: Tokyo Gas Co., Ltd. Analysis Across The Oil and Gas Value Chain Provides Historical Production and Capacity Data on This Exciting Company
- Fox Petroleum Announces Production From the Spears Gas Unit 2, Well #1 in Pecos County Texas
- Forster Drilling Corporation Signs Multi-Well Contract With Enhanced Oil Resources, Inc.
- Wentworth Energy Announces Completion of Red Lake Gas Unit #1-R Well
- Catlin Oil and Gas Brings 7 Wells Online - Natural Gas Pipeline Repairs to Deliver Additional Production to Market
- US asks Japan to stop Iran oil development-paper
- \\China to Build Four Major Oil, Natural Gas Pipelines in Next Five Years
- Paradigm Oil and Gas Successful Well Completed in Major Oil Sands Development Project
- UPDA Subsidiary Canyon Creek Oil and Gas Inc. Continues Its Pursuit of Oil and Gas Reserves -- Purchases Two Additional Fields in Texas
- Five W. Kentucky Oil Wells Planned
 |
 |
User Comments (0)
RSS Feeds